Corporate Credit Unions; Fidelity Bond and Insurance Coverage for Federally Insured Credit Unions

Issuing agencies

Abstract

The NCUA Board (Board) seeks comment on proposed amendments to its regulations governing fidelity bond and insurance coverage for federally insured credit unions (FICUs). The proposed rule would eliminate certain prescriptive procedural mandates and simplify requirements for coverage amounts and deductibles. The intended effect is greater flexibility for FICUs, simplified compliance, and reduced administrative costs without compromising safety and soundness.

Full Text

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<title>Federal Register, Volume 91 Issue 198 (Thursday, October 15, 2026)</title>
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[Federal Register Volume 91, Number 198 (Thursday, October 15, 2026)]
[Proposed Rules]
[Pages 65475-65478]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-21087]


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Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

========================================================================


Federal Register / Vol. 91, No. 198 / Thursday, October 15, 2026 / 
Proposed Rules

[[Page 65475]]



NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Parts 704 and 713

RIN 3133-AG04


Corporate Credit Unions; Fidelity Bond and Insurance Coverage for 
Federally Insured Credit Unions

AGENCY: National Credit Union Administration (NCUA).

ACTION: Proposed rule.

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SUMMARY: The NCUA Board (Board) seeks comment on proposed amendments to 
its regulations governing fidelity bond and insurance coverage for 
federally insured credit unions (FICUs). The proposed rule would 
eliminate certain prescriptive procedural mandates and simplify 
requirements for coverage amounts and deductibles. The intended effect 
is greater flexibility for FICUs, simplified compliance, and reduced 
administrative costs without compromising safety and soundness.

DATES: Comments must be received on or before December 14, 2026.

ADDRESSES: Comments may be submitted in one of the following ways. 
(Please send comments by one method only):
    <bullet> Federal eRulemaking Portal: <a href="https://www.regulations.gov">https://www.regulations.gov</a>. 
The docket number for the proposed rule is NCUA-2026-1882. Follow the 
``Submit a comment'' instructions. If you are reading this document on 
<a href="http://federalregister.gov">federalregister.gov</a>, you may use the green ``SUBMIT A PUBLIC COMMENT'' 
button beneath this rulemaking's title to submit a comment to the 
<a href="http://regulations.gov">regulations.gov</a> docket. A plain language summary of the proposed rule 
is also available on the docket website.
    <bullet> Mail: Address to Melane Conyers-Ausbrooks, Secretary of 
the Board, National Credit Union Administration, 1775 Duke Street, 
Alexandria, Virginia 22314-3428.
    <bullet> Hand Delivery/Courier: Same as mailing address. Mailed and 
hand-delivered comments must be received by the close of the comment 
period.
    Public Inspection: Please follow the search instructions on <a href="https://www.regulations.gov">https://www.regulations.gov</a> to view the public comments. Do not include any 
personally identifiable information (such as name, address, or other 
contact information) or confidential business information that you do 
not want publicly disclosed. All comments are public records; they are 
publicly displayed exactly as received and will not be deleted, 
modified, or redacted. Comments may be submitted anonymously. If you 
are unable to access public comments on the internet, you may contact 
the NCUA for alternative access by calling (703) 518-6540 or emailing 
<a href="/cdn-cgi/l/email-protection#014e46424c60686d416f6274602f666e77"><span class="__cf_email__" data-cfemail="29666e6a6448404569474a5c48074e465f">[email&#160;protected]</span></a>.

FOR FURTHER INFORMATION CONTACT: Damon P. Frank, Senior Trial Attorney, 
Office of General Counsel, at (703) 518-6540 or at 1775 Duke Street, 
Alexandria, VA 22314.

SUPPLEMENTARY INFORMATION:

I. Legal Authority and Background

    The Board proposes to amend its regulations at part 713, which 
govern fidelity bond and insurance coverage for FICUs. The provisions 
of part 713 note the responsibility of a FICU's board of directors to 
maintain adequate insurance, set the minimum requirements for fidelity 
bond coverage and deductibles, and outline NCUA's process for approving 
bond forms.

A. Legal Authority

    The Board has the legal authority to issue the proposed rule 
pursuant to its plenary rulemaking authority under the Federal Credit 
Union Act and its specific rulemaking authority related to statutory 
requirements mandating the bonding of FICU employees and officials to 
protect against losses. The NCUA's statutory authority for these rules 
is found at 12 U.S.C. 1761a, 1761b(2), 1766(a), 1766(h), and 
1789(a)(11).

B. Regulatory History

    The Board established the current framework for fidelity bond and 
insurance coverage in a final rule published on May 27, 1999.\1\ The 
1999 rule created part 713 by redesignating and revising the 
requirements previously set forth in Sec.  701.20. The primary purpose 
of the 1999 rule was to update and clarify the requirements related to 
fidelity bond coverage, for credit unions to better understand them and 
to enhance regulatory effectiveness.
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    \1\ 64 FR 28720 (May 27, 1999).
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    Over the years, the Board has amended part 713 to keep pace with 
the evolving financial and technological environment. In a final rule 
published on October 26, 2005,\2\ the Board modernized the regulation 
by increasing the minimum required coverage limits to account for 
inflation, asset growth, and increased risks from technology and 
insider fraud. The 2005 rule also increased the maximum permissible 
deductible from $200,000 to $1 million for certain credit unions.
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    \2\ 70 FR 61713 (Oct. 26, 2005).
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    The Board enacted a significant update to part 713 with a final 
rule published on July 24, 2019.\3\ This amendment was prompted by an 
increase in losses to the National Credit Union Share Insurance Fund 
resulting from bond issuers rescinding coverage when the signatory on 
the application was aware of fraudulent activity. To strengthen 
oversight by boards of directors and mitigate this risk, the 2019 rule 
amended Sec.  713.2 to require a FICU's board of directors to do the 
following:
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    \3\ 84 FR 35517 (July 24, 2019).
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    <bullet> Review all applications for bond purchase or renewal;
    <bullet> Approve submission of any such application by board 
resolution; and
    <bullet> Delegate a non-employee board member to sign the agreement 
updating bond coverage, with the individual signing the agreement 
rotating to prevent the same signatory on consecutive renewals.
    To better protect the National Credit Union Share Insurance Fund 
from losses related to liquidations, the 2019 rule amended Sec.  713.3 
to require that additional coverage be offered after a FICU is 
liquidated, which if purchased would provide a 12-month window enabling 
a claim to be filed under the bond for losses discovered after 
liquidation. In the 2019 rule, the Board amended Sec.  713.4 by 
introducing a 10-year expiration period for any Board-approved bond 
form, to ensure the form remained current. This change was instituted 
after the Board discovered that some fidelity bonds issued on 
previously approved forms contained

[[Page 65476]]

outdated provisions, unapproved additions, or were being 
misinterpreted. The 2019 rule likewise amended Sec.  704.18, which 
provides fidelity bonds requirements for federally insured corporate 
credit unions, to add these requirements for fidelity bond purchases 
and renewals made by corporate credit unions.
    On October 27, 2021, the Board published a final rule \4\ that made 
a technical amendment to Sec.  713.6 as part of a broader update to the 
NCUA's supervisory ratings, which added the ``S'' component to the 
CAMELS rating system.
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    \4\ 86 FR 59289 (Oct. 27, 2021).
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II. Proposed Rule

    The Board is proposing several amendments to parts 704 and 713 to 
reduce regulatory burden, eliminate overly prescriptive requirements, 
and streamline the regulation while still requiring FICUs to maintain 
adequate fidelity bond coverage to protect against loss. The following 
discussion details the proposed changes and the Board's rationale. The 
Board invites comments on all aspects of this proposal.

A. Streamlining Procedural Requirements

    The Board proposes to amend provisions in Sec. Sec.  704.18, 713.2, 
and 713.4 that impose specific procedural requirements related to 
fidelity bonds. The Board believes these to be unnecessarily 
prescriptive and that their removal will reduce administrative burden 
on FICUs and bond issuers without compromising safety and soundness.
    First, the Board proposes to amend Sec.  713.2(b) by removing the 
requirement that the FICU's full board of directors review all 
applications for purchase or renewal of fidelity bond coverage. The 
Board believes that this requirement is unduly burdensome. The 2019 
rule added this requirement in part to strengthen board oversight of 
fidelity bond purchases and renewals. The Board now believes that FICU 
boards can retain effective oversight by reviewing coverage annually, 
as Sec.  713.2 required before 2019 and would continue to require under 
the proposed rule.
    However, as noted in the 2019 rule, the Board was and remains 
concerned about the risk of a FICU's fidelity bond being revoked based 
on its signatory's knowledge of fraud or other potential claims under 
the bond, and thus believes it should retain some procedural 
safeguards. Accordingly, the Board is proposing to revise Sec.  
713.2(b) to authorize a FICU board to delegate, or otherwise authorize, 
review and approval of applications for purchase and of renewals to an 
individual member of the board or the supervisory or audit committee of 
the FICU. The proposed rule would also authorize a FICU board to 
similarly delegate or otherwise authorize the final signature to a 
member of the board, supervisory, or audit committee who is not also an 
employee of the FICU. This limitation is meant to mitigate against the 
risk cited in the 2019 rule that a manager or chief executive officer 
would be more likely than a board member to be engaged in, or know of, 
fraud or other potential claims. By continuing to bar people in those 
positions from authorizing new or renewed bonds, NCUA is seeking to 
limit the possibility that a bond will be revoked, while recognizing 
that FICU boards may benefit from delegating these administrative 
functions to appropriate individuals. Under the proposed rule, a FICU 
board would still be able to review and approve fidelity bond purchases 
and renewals, despite the new option to delegate this task. The 
proposed rule is also intended to be flexible procedurally. That is, a 
FICU board may specifically delegate this authority to an individual 
member of the board or supervisory or audit committee, or such an 
individual may be deemed duly authorized by virtue of their assigned 
duties or areas of responsibility.
    Likewise, the Board is proposing to remove language in Sec.  
713.2(b) that prohibits a member of the FICU's board of directors from 
signing consecutive fidelity bond purchase or renewal agreements. The 
requirement was added in the 2019 rule for the reasons just noted for 
the board approval requirement. However, the Board finds that this is 
an overly prescriptive requirement that creates an undue burden, 
particularly for smaller FICUs that may have a limited number of non-
employee board members available to serve as a signatory. Accordingly, 
the Board is proposing to remove this rotation requirement.
    Second, the Board proposes to eliminate Sec.  713.4(d) in its 
entirety. This paragraph establishes an automatic 10-year expiration 
period for the Board's approval of all fidelity bond forms. The 
statutory authority in 12 U.S.C. 1766(h) grants the Board the power to 
approve the ``form'' of the bond but does not specify a temporal limit 
for that approval. The creation of an automatic 10-year expiration 
cycle is a substantive requirement not found in the statute. This 
provision was added in 2019 to reduce occurrences of Board-approved 
bond forms becoming outdated or conflicting with post-approval 
statutory or regulatory changes. The Board now believes this automatic 
sunset provision creates an unnecessary and recurring administrative 
burden for both FICUs and bond issuers who must seek re-approval for 
forms that may still be suitable. A FICU board would remain responsible 
for ensuring that it uses only NCUA-approved forms and should contact 
NCUA if they need to confirm the validity of specific forms. The 
proposed change does not diminish the Board's authority to review bond 
forms at any time and rescind approvals as appropriate. Removing Sec.  
713.4(d) will eliminate a recurring burden while retaining the Board's 
ability to ensure all approved forms remain current.
    Finally, the Board proposes to make parallel changes to Sec.  
704.18 for corporate credit unions. Specifically, the Board proposes to 
revise Sec.  704.18(b)(2) to provide the same delegation option and 
limitation proposed for Sec.  713.2(b). The 2019 rule added these 
requirements to the corporate credit union regulation for the same 
reasons that supported the changes to part 713. Accordingly, the Board 
finds it appropriate to propose the same changes in Sec.  704.18(b)(2) 
as for Sec.  713.2(b). Likewise, the Board is proposing to revise Sec.  
704.18(c)(3) to remove the 10-year expiration provision that it is 
proposing to remove from Sec.  713(d). The reasons for removing this 
provision from part 713 apply equally to corporate credit unions--that 
is, the change would reduce burden on FICUs and fidelity bond carriers 
who would otherwise need to have all their forms reapproved by NCUA 
even if they remain suitable. As with Sec.  713.2(a), Sec.  
704.18(b)(1) would continue to require a corporate credit union's board 
to review coverage carefully, which would keep its oversight intact.
    The Board invites public comment on these proposed changes.

B. Simplifying Coverage Requirements

    The Board also proposes changes to Sec.  713.5 to simplify the 
rules governing the minimum amount of fidelity bond coverage under a 
FICU's bond. The change is intended to eliminate redundant or advisory 
language and remove inflexible formulas.
    First, the Board proposes removing two paragraphs from Sec.  713.5, 
which specify the minimum required dollar amount of fidelity bond 
coverage. These paragraphs use the word ``should,'' which creates 
uncertainty for FICUs as to whether the provision is a requirement or a 
recommendation, leading to potential confusion regarding

[[Page 65477]]

compliance. Changing the minimum requirements stated in Sec.  713.5(a) 
through use of ambiguous thresholds for additional coverage is not the 
best reading of the Board's statutory authority to prescribe a required 
``amount'' for ``reasonable coverage.''
    The proposal would eliminate paragraph (b), which states a FICU's 
board of directors ``should purchase'' additional coverage beyond the 
regulatory minimum as circumstances warrant. A FICU's board of 
directors already has a fundamental fiduciary duty to ensure the 
institution operates in a safe and sound manner, which includes 
securing insurance coverage that is adequate for its specific risk 
profile. This paragraph is purely advisory and restates a basic 
principle of corporate governance. Its removal simplifies the 
regulation without diminishing underlying responsibilities of the 
FICU's board of directors.
    In addition, the proposal would eliminate paragraph (c), which 
states that FICUs ``should maintain increased coverage'' based on a 
specific formula tied to the amount of daily cash on hand or money in 
transit. The Board believes this provision is both overly prescriptive 
and ambiguous. Moreover, a rigid formula focused on only two specific 
criteria may not be the most relevant measure of risk for all FICUs in 
a modern financial environment. The existing requirement in Sec.  
713.2(a) for the board of directors to conduct an annual review based 
on potential risks contains a sufficiently effective, flexible, 
principles-based approach to determining a FICU's amount of fidelity 
bond coverage.
    The Board invites comment on these proposed changes. The Board also 
specifically requests comment on one aspect of current Sec.  704.18. 
The Board notes that Sec.  704.18(d)(2) contains a ``duty'' for a 
corporate credit union's board to provide adequate protection for its 
unique circumstances by obtaining, when necessary, coverage above the 
minimum required amounts. While this provision is stated as a mandate 
and not guidance, the Board requests comment on eliminating this 
provision. The reason for removing this provision would differ from the 
reason for removing the guidance in part 713. The Board is interested 
in public feedback on whether the part 704 duty is too vague to offer a 
corporate credit union board enough direction on when or whether NCUA 
would expect it to obtain extra coverage voluntarily.

C. Making Technical Corrections

    The Board additionally proposes to make a conforming change to 
Sec.  704.18(c)(3) for corporate credit unions, in a manner more 
consistent with the parallel provision of Sec.  713.4(c) for FICUs. The 
separation of current Sec.  704.18(c)(3) into new subsections (i) and 
(ii) would be to make clear there are two distinct prohibited 
scenarios. No substantive effect is intended by this technical 
conforming amendment.
    The Board similarly proposes to make a conforming change to Sec.  
713.4(c) for FICUs, to correct an inconsistency with the parallel 
provision of Sec.  704.18(c)(3) for corporate credit unions. The two 
clauses found in the proposed Sec.  704.18(c)(3)(i) and (ii) are 
separated by the word ``and,'' while the same clauses found in the 
current Sec.  713.4(c) are separated by the word ``or.'' However, these 
provisions were always intended to create identical prohibitions, and 
have both been treated as the same in practice since the 2019 
amendments. To eliminate this textual discrepancy, the Board now 
proposes to use ``or'' in both Sec.  704.18(c) and Sec.  713.4(c), 
which is best read in a way consistent with present practice that 
prohibits credit unions from using any of the bond documents described. 
No substantive effect is intended by this technical conforming 
amendment.

III. Regulatory Procedures

A. Providing Accountability Through Transparency Act of 2023

    The Providing Accountability Through Transparency Act of 2023 \5\ 
requires that a notice of proposed rulemaking include the internet 
address of a summary of not more than 100 words in length of a proposed 
rule, in plain language, that shall be posted on the internet website 
under section 206(d) of the E-Government Act of 2002 \6\ (commonly 
known as Regulations.gov).
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    \5\ 5 U.S.C. 553(b)(4).
    \6\ 44 U.S.C. 3501 note.
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    In summary, the Board seeks comment on proposed amendments to its 
regulations governing fidelity bond and insurance coverage for FICUs. 
The proposed rule would eliminate certain prescriptive procedural 
mandates and simplifies requirements for coverage amounts and 
deductibles. The intended effect is greater flexibility for FICUs, 
simplified compliance, and reduced administrative costs without 
compromising safety and soundness. The proposal and the required 
summary can be found at <a href="https://www.regulations.gov">https://www.regulations.gov</a>.

B. Regulatory Review--Executive Orders 12866, 13563 and 14192

    Pursuant to Executive Order 12866 (``Regulatory Planning and 
Review''), a determination must be made whether a regulatory action is 
significant and therefore subject to review by the Office of 
Information and Regulatory Affairs (OIRA), within the Office of 
Management and Budget (OMB) in accordance with the requirements of the 
Executive Order.\7\ Executive Order 13563 (``Improving Regulation and 
Regulatory Review'') supplements and reaffirms the principles, 
structures, and definitions governing contemporary regulatory review 
established in Executive Order 12866.\8\ This proposed rule was drafted 
and reviewed in accordance with Executive Order 12866 and Executive 
Order 13563. OIRA has determined that this proposed rule is not a 
``significant regulatory action'' as defined by section 3(f) of 
Executive Order 12866.
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    \7\ 58 FR 51735 (Oct. 4, 1993).
    \8\ 76 FR 3821 (Jan.21, 2011).
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    Executive Order 14192 (``Unleashing Prosperity Through 
Deregulation'') requires that any new incremental costs associated with 
new regulations shall, to the extent permitted by law, be offset by the 
elimination of existing costs associated with at least 10 prior 
regulations.\9\ This proposed rule is not an Executive Order 14192 
regulatory action because this rule is not significant under Executive 
Order 12866. The proposed rule is expected to be a deregulatory action 
under Executive Order 14192.
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    \9\ 90 FR 9065 (Feb. 6, 2025).
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C. The Paperwork Reduction Act

    The Paperwork Reduction Act of 1995 (PRA) generally provides that 
an agency may not conduct or sponsor, and notwithstanding any other 
provision of law, a person is not required to respond to, a collection 
of information unless it displays a currently valid Office of 
Management and Budget control number. The PRA applies to rulemakings in 
which an agency creates a new or amends existing information collection 
requirements. For purposes of the PRA, an information-collection 
requirement may take the form of a reporting, recordkeeping, or third-
party disclosure requirement. The NCUA has determined that the changes 
addressed in this notice do not create a new information collection or 
revise an existing information collection as defined by the PRA.

[[Page 65478]]

D. The Regulatory Flexibility Act

    The Regulatory Flexibility Act generally requires an agency to 
conduct a regulatory flexibility analysis of any rule subject to notice 
and comment rulemaking requirements, unless the agency certifies that 
the rule will not have a significant economic impact on a substantial 
number of small entities. If the agency makes such a certification, it 
shall publish the certification at the time of publication of either 
the proposed rule or the final rule, along with a statement providing 
the factual basis for such certification. For purposes of this 
analysis, the NCUA considers small credit unions to be those having 
under $100 million in assets. The Board fully considered the potential 
economic impacts of the regulatory amendments on small credit unions.
    To the extent that the proposed rule would have any economic 
impacts, they will be deregulatory in nature. The proposed rule would 
eliminate certain prescriptive procedural mandates and simplify 
requirements for coverage amounts and deductibles. The intended effect 
is greater flexibility for FICUs, simplified compliance, and reduced 
administrative costs without compromising safety and soundness. While 
the proposed changes could create an economic benefit for FICUs, they 
are unlikely to be significant for purposes of the Regulatory 
Flexibility Act. Accordingly, the NCUA certifies the proposed rule 
would not have a significant economic impact on a substantial number of 
small entities.

E. Executive Order 13132 on Federalism

    Executive Order 13132 encourages certain regulatory agencies to 
consider the impact of their actions on state and local interests. The 
NCUA, an agency as defined in 44 U.S.C. 3502(5), complies with the 
order to adhere to fundamental federalism principles. The proposed rule 
would apply to all FICUs, including state-chartered credit unions. The 
NCUA expects that any effect on states or on the distribution of power 
and responsibilities among the various levels of government will be 
minor. The proposed changes would mainly clarify the existing 
regulations and guidance in this area, eliminating certain prescriptive 
provisions but not fundamentally altering the calculation of or 
provision of insurance or fidelity bond coverage for FICUs. The 
proposed changes are not intended to affect the division of 
responsibilities between the NCUA and state regulatory authorities with 
oversight of federally insured, state-chartered credit unions. The NCUA 
welcomes comments on ways to eliminate, or at least minimize, any 
potential impact in this area.

F. Assessment of Federal Regulations and Policies on Families

    The NCUA has determined that the proposed rule would not affect 
family well-being within the meaning of section 654 of the Treasury and 
General Government Appropriations Act, 1999. The proposed rule relates 
to fidelity bond coverage that protects credit unions against losses 
due to fraud, dishonesty, and theft committed by credit union employees 
or volunteers; accordingly, any effect on family well-being is expected 
to be indirect.

List of Subjects

12 CFR Part 704

    Credit unions, Reporting and recordkeeping requirements, Surety 
bonds.

12 CFR Part 713

    Bonds, Credit unions, Insurance.

    By the National Credit Union Administration Board, this 13th day 
of October, 2026.
Melane Conyers-Ausbrooks,
Secretary of the Board.

    For the reasons set forth in the preamble, the Board proposes to 
amend 12 CFR parts 704 and 713 as follows:

PART 704--CORPORATE CREDIT UNIONS

0
1. The authority citation for part 704 continues to read as follows:

    Authority:  12 U.S.C. 1766(a), 1781, 1789.

0
2. Amend Sec.  704.18 by:
0
a. Revising paragraph (b)(2); and
0
b. Removing the last sentence in paragraph (c)(3).
    The revisions read as follows:


Sec.  704.18   Fidelity bond coverage.

* * * * *
    (b) * * *
    (2) The board of directors of each corporate credit union, or a 
duly authorized individual who sits on the corporate credit union's 
board of directors or supervisory committee or audit committee, must 
review and approve all applications for purchase or renewal of its 
fidelity bond coverage. After such review, a non-employee who is either 
an individual board member of the corporate credit union or a duly 
authorized individual who sits on the corporate credit union's 
supervisory committee or audit committee, must sign the purchase or 
renewal agreement and all attachments.
    (c) * * *
    (3) The NCUA Board must approve all bond forms before a corporate 
credit union may use them. Corporate credit unions may not use any of 
the following without first receiving approval from the NCUA Board:
    (i) any bond form that has been amended since the time the NCUA 
Board approved the form; or
    (ii) any rider, endorsement, renewal, or other document that limits 
coverage of approved bond forms.
* * * * *

PART 713--FIDELITY BOND AND INSURANCE COVERAGE FOR FEDERALLY 
INSURED CREDIT UNIONS

0
3. The authority citation for part 713 continues to read as follows:

    Authority:  12 U.S.C. 1761a, 1761b, 1766(a), 1766(h), 
1789(a)(11).

0
4. Amend Sec.  713.2 by revising paragraph (b) to read as follows:


Sec.  713.2   What are the responsibilities of a federally insured 
credit union's board of directors under this section?

* * * * *
    (b) The board of directors of each federally insured credit union, 
or a duly authorized individual who sits on the federally insured 
credit union's board of directors or supervisory committee or audit 
committee, must review and approve all applications for purchase or 
renewal of its fidelity bond coverage. After such review, a non-
employee who is either an individual board member of the federally 
insured credit union or a duly authorized individual who sits on the 
federally insured credit union's supervisory committee or audit 
committee, must sign the purchase or renewal agreement and all 
attachments.
0
5. Amend Sec.  713.4 by:
0
a. Revising paragraph (c); and
0
b. Deleting paragraph (d).
    The revisions read as follows:


Sec.  713.4   What bond forms may a federally insured credit union use?

* * * * *
    (c) * * *
    (1) Any bond form that has been amended or changed since the time 
the NCUA Board approved the form; or
    (2) Any rider, endorsement, renewal, or other document that limits 
coverage of approved bond forms.


Sec.  713.5   [Amended]

0
6. Amend Sec.  713.5 by:
0
a. removing paragraphs (b) and (c);
0
b. redesignating paragraphs (d) and (e) as paragraphs (b) and (c).

[FR Doc. 2026-21087 Filed 10-14-26; 8:45 am]
BILLING CODE 7535-01-P


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