Part 6801 Supplemental Standards of Ethical Conduct for Employees of the Board of Governors of the Federal Reserve System

Terms Used In CFR > Title 5 > Chapter LVIII

  • Authorized officer: means any employee of the Bureau of Land Management who has been delegated the authority and responsibility to make decisions and perform the duties described in this part. See 43 CFR 2200.0-5
  • CLF-related bridge loan: means interim financing, extending up to ten business days, that a corporate credit union provides for a natural person credit union from the time the CLF approves a loan to the natural person credit union until the CLF funds the loan. See 43 CFR 2201.3-3
  • Compensation: means all salaries, fees, wages, bonuses, severance payments, current year contributions to employee benefit plans (for example, medical, dental, life insurance, and disability), current year contributions to deferred compensation plans and future severance payments, including payments in connection with a merger or similar combination (whether or not funded. See 43 CFR 2201.3-3
  • Corporate credit union: means an organization that:

    (1) Is chartered under Federal or state law as a credit union. See 43 CFR 2201.3-3

  • Daily average net assets: means the average of net assets calculated for each day during the period. See 43 CFR 2201.3-3
  • Embedded option: means a characteristic of certain assets and liabilities which gives the issuer of the instrument the ability to change the features such as final maturity, rate, principal amount and average life. See 43 CFR 2201.3-3
  • Fair value: means the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date, as defined by GAAP. See 43 CFR 2201.3-3
  • Federal lands: means any lands or interests in lands, such as mineral or timber interests, that are owned by the United States and administered by the Secretary of the Interior through the Director of the Bureau of Land Management, without regard to how the United States acquired ownership, except: (1) Lands located on the Outer Continental Shelf. See 43 CFR 2200.0-5
  • Financial statements: means the presentation of a corporate credit union's financial data, including accompanying notes, derived from accounting records of the credit union, and intended to disclose the credit union's economic resources or obligations at a point in time, or the changes therein for a period of time, in conformity with GAAP. See 43 CFR 2201.3-3
  • Hazardous substances: means those substances designated under Environmental Protection Agency regulations at 40 CFR part 302. See 43 CFR 2200.0-5
  • Lands: means any land and/or interests in land. See 43 CFR 2200.0-5
  • Mineral laws: means the mining laws, mineral leasing laws, and the Geothermal Steam Act, but not the Materials Sales Act, administered by the Secretary of the Interior through the Bureau of Land Management. See 43 CFR 2200.0-5
  • Moving daily average net assets: means the average of daily average net assets for the month being measured and the previous eleven (11) months. See 43 CFR 2201.3-3
  • NCUA: means NCUA Board (Board), unless the particular action has been delegated by the Board. See 43 CFR 2201.3-3
  • Net assets: means total assets less Central Liquidity Facility (CLF) stock subscriptions, CLF-related bridge loans, loans guaranteed by the National Credit Union Share Insurance Fund (NCUSIF), and member reverse repurchase transactions. See 43 CFR 2201.3-3
  • Official: means any director or committee member. See 43 CFR 2201.3-3
  • Outstanding interests: means rights or interests in property held by an entity other than a party to an exchange. See 43 CFR 2200.0-5
  • Party: means the United States or any person, State or local government who enters into an agreement to initiate an exchange. See 43 CFR 2200.0-5
  • Public land laws: means that body of general land laws administered by the Secretary of the Interior through the Bureau of Land Management, excepting, however, the mineral laws. See 43 CFR 2200.0-5
  • Segregation: means the removal for a limited period, subject to valid existing rights, of a specified area of the Federal lands from appropriation under the public land laws and mineral laws, pursuant to the authority of the Secretary of the Interior to allow for the orderly administration of the Federal lands. See 43 CFR 2200.0-5
  • Total capital: means the sum of Tier 1 capital and Tier 2 capital, less the corporate credit union's equity investments not otherwise deducted when calculating Tier 1 capital. See 43 CFR 2201.3-3
  • Weighted average life: means the weighted-average time to the return of a dollar of principal, calculated by multiplying each portion of principal received by the time at which it is expected to be received (based on a reasonable and supportable estimate of that time) and then summing and dividing by the total amount of principal. See 43 CFR 2201.3-3