The NCUA board finalized two rules at its Thursday meeting, the final meeting of 2017. Both rules, on emergency mergers and agency reorganization, were approved unanimously.

The emergency mergers rule, which CUNA supported, was finalized without modification. It amends the definition of “in danger of insolvency” and creates a fourth category of existing net worth categories.

According to the agency, this gives it earlier authority to preserve asset values for an undercapitalized, failing credit union.

The rule does not impact the three criteria that exist to determine whether an emergency merger will be approved. It will become effective 30 days after being published in the Federal Register, which is expected in the coming days.

The second final rule involves previously announced internal reorganization, it moves several agency functions from the Office of Consumer Financial Protection and Access into the new Office of Credit Union Resources and Expansion.

The functions include minority depository institutions, grants, chartering and field of membership issues. The rule is effective Jan. 6.

The board is scheduled to meet in 2018 on:

• Jan. 25;
• Feb. 15;
• March 15;
• April 19;
• May 24;
• June 21;
• July 26;
• Sept. 20;
• Oct. 18;
• Nov. 15; and
• Dec. 20.