Written Agreements
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 Written
Agreements are formal written documents, executed by the institution(s) and/or
IAPs and the appropriate agency or agencies
- State agencies may also be party to these
agreements.
- They set forth corrective actions to be taken
Violation
of written agreements can lead to more serious enforcement actions such as
 Authorized
by Sections 8(a), 8(b) and 8(i) of the FDIA,
12 U.S.C. 1818 (a),
(b) and
(i); Section 206(e) of the FCU Act,
12 U.S.C. 1786(e)
In
the case of the NCUA, violations of published Letters of Understanding and
Agreement LUAs may result in further administrative action
Examples
of Written Agreements
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Capital Directives
SEC_CODE_REF_0090001192884
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Written
directive, issued after notice to an institution, requiring an institution
to achieve and maintain specified levels of capital and to take other action These
directives can be enforced like cease and desist orders
12 CFR 325.6(a)
Regulations
Examples
of Capital directives
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Safety and Soundness Orders
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Written
order issued by the appropriate banking agency requiring the institution to
correct a safety and soundness deficiency or to take or refrain from taking
other actions Authorized
by Section 39 of the FDI Act
12
U.S.C. 1831p-1 Note:
NCUA does not utilize Safety and Soundness Orders per se. Rather,
violations of such standards may subject a credit union to "reclassification"
procedures of
12
CFR Part 702
Safety
and Soundness Order Regulations
- Unlike the other agencies, FDIC has placed its
Safety and Soundness Standards in a separate part of CFR from the enforcement
provisions
- The only substantive material in Part 364 is
found in the inter-agency Appendixes at
12 CFR 364, Appendix A and
12 CFR 364, Appendix B
Examples
of Safety and Soundness Orders
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