The charitable donations accounts final rule is on the agenda ofthe NCUA's Dec. 12 board meeting released on Thursday.

The proposed rule would establish safeguards for charitabledonation accounts including limiting CDA aggregate investments to3% of the credit union's net worth.

Under the rule, at least 51% of total return from an accountmust be distributed to one or more qualified charities.Distributions are required to be made no less than every five years.

“Earlier this year, officials from federal credit unions told usthat our investment rule prevented them from investing inthird-party trust accounts that help fund charitable causes orevents,” NCUA Board Chairman Debbie Matz said in September. “Through my RegulatoryModernization Initiative, we worked to fix this unintendedconsequence.”

The agenda for the December meeting also includes technicalamendments and the corporate credit union rating system final rule,parts 700, 701, and 704.

The 2014 oversight budget for the Temporary Corporate CreditUnion Stabilization is also on the agenda.

The requirements for FCU examination sites proposed rule will bediscussed at the meeting as well.