Or. Admin. Code § 441-720-0340 - Aggregate (Net) Member Business Loan Limit
(1) For purposes of this rule, "net member
business loans" means the amount of outstanding balances and any unfunded
commitments of the member business loans, reduced by any loan in which a
federal or state agency (or its political subdivision) fully insures repayment,
fully guarantees repayment, provides an advance commitment to purchase the loan
in full, or any loan that is fully secured by a lien on a 1-4 family dwelling;
or any portion of a loan sold as a participation interest without recourse and
qualifying for true sales accounting under GAAP.
(2) The aggregate limit on the amount of a
credit union's net member business loan balances and any unfunded commitments,
is the lesser of:
(a) 1.75 times the credit
union's actual net worth; or
(b)
1.75 times the minimum net worth required under section 1790d(c)(l)(A) of the
Federal Credit Union Act (12 USC
1790d(c)(1)(A), as of
2018).
(3) Purchases of
non-member commercial loans or non-member participation interests are excluded
from the aggregate member business loan limit provided the credit union
acquired the non-member loans or participation interests in compliance with all
relevant laws and regulations and it is not, with one or more credit unions,
trading member business loans to circumvent the aggregate limit.
Notes
Statutory/Other Authority: ORS 723.102
Statutes/Other Implemented: ORS 723.152, 723.156 & 723.512
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