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Federal forms, ICRs, and supporting documents

OMB control number

Prompt Corrective Action, 12 CFR 702 (Subparts A-D)

OMB 3133-0154 · NCUA.

OMB 3133-0154

Section 216 of the Federal Credit Union Act (12 U.S.C. §1790d) mandates prompt corrective action requirements for federally insured credit unions (FICUs) that become less than well capitalized. The NCUA Board is required to (1) adopt, by regulation, a system of prompt corrective action to restore the net worth of inadequately capitalized FICUs; and (2) develop an alternative system of prompt corrective action for new credit unions that carries out the purpose of prompt corrective actions while allowing an FICU reasonable time to build its net worth to an adequately capitalized level. Part 702 implements the statutory requirements and, to achieve this, various information collections to meet the purpose of prompt corrective action as circumstances require.

The latest form for Prompt Corrective Action, 12 CFR 702 (Subparts A-D) expires 2026-10-31 and is listed under ICR 202308-3133-007.

Latest Forms, Documents, and Supporting Material

Latest forms, documents, and information collections
DocumentType
3133-0154 Supporting Statement as of 09-2023.docxSupporting Statement A
Final_Rule_12CFR702_85FR31952_28MAY20.pdf Supplementary Document
12CFR702_Sub-B (1-1-20 ED).pdf Supplementary Document
12CFR702_SubA-D_(1-1-18 ED).pdf Supplementary Document
Prompt Corrective Action Information collection

All Historical Document Collections

Historical document collections
ReferenceFilingReceivedConcludedAction
202308-3133-007 Revision of a currently approved collection 2023-09-12 Approved without change
202008-3133-001 Extension without change of a currently approved collection 2020-08-19 Approved without change
202005-3133-006 Revision of a currently approved collection 2020-05-28 Approved without change
202004-3133-011 Revision of a currently approved collection 2020-05-21 Preapproved
201805-3133-003 Extension without change of a currently approved collection 2018-09-28 Approved without change
201503-3133-003 Reinstatement with change of a previously approved collection 2015-07-31 Approved without change
199906-3133-005 New collection (Request for a new OMB Control Number) 1999-06-04 Approved without change