Troubled condition

Troubled condition means: In the case of an insured natural person credit union:
(i) A federal credit union that has been assigned a 4 or 5 CAMEL composite rating by NCUA; or
(ii) A federally insured, state-chartered credit union that has been assigned a 4 or 5 CAMEL composite rating by either NCUA, after an on-site contact, or its state supervisor; or
(iii) A federal credit union or a federally insured, state-chartered credit union that has been granted assistance under section 208 of the Federal Credit Union Act, 12 U.S.C. 1788, that remains outstanding and unextinguished.
(2) In the case of an insured corporate credit union:
(i) A Federal credit union that has been assigned a 4 or 5 CAMEL rating by NCUA; or
(ii) A federally insured, state-chartered credit union that has been assigned a 4 or 5 CAMEL rating by either NCUA, after an on-site contact, or its state supervisor; or
(iii) A Federal credit union or a federally insured, state-chartered credit union that has been granted assistance under section 208 of the Federal Credit Union Act, 12 U.S.C 1788, that remains outstanding and unextinguished.

Source

12 CFR § 700.2


Scoping language

As used in this chapter:

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