2026-22538·NATIONAL CREDIT UNION ADMINISTRATION

Treatment of Emergency Amendments: Paycheck Protection Program Liquidity Facility and Paycheck Protection Program Loans

Final RuleEffective

Published: Nov 4, 2026
Effective: Nov 4, 2026
Citation: 91 FR 69493

Final rule.

Summary

The National Credit Union Administration (NCUA) has issued a final rule that updates how credit unions must treat assets and loans tied to the Paycheck Protection Program (PPP) and the PPP Liquidity Facility. The revisions clarify the way these emergency‑originated items count toward a credit union’s capital requirements and its limits on business lending, ensuring that the pandemic‑related support can be reflected accurately in a union’s financial health without penalizing them for holding or originating PPP loans. The rule, adopted by the NCUA Board, applies to all federally‑insured credit unions that participate in the PPP Liquidity Facility or have made PPP loans to their members. By incorporating changes first introduced in an interim final rule from April 2020, the regulation aims to keep credit unions’ capital calculations consistent with the temporary relief measures while preserving the safety and soundness standards that protect members. The final rule was published in the Federal Register on November 4, 2026 (91 FR 69493) and became effective the same day. No further public comment period is required, as the rule is already finalized. Credit unions must now adjust their accounting and reporting practices to reflect the new treatment of PPP‑related assets and loans, and they will continue to monitor any additional guidance the NCUA may issue as the PPP program winds down.

AI-generated summary — verify against the Federal Register text.

Official abstract

The NCUA Board (Board) is issuing a final rule adopting as final the revisions to the capital adequacy rule and the member business lending rule made under an interim final rule (IFR) published in the Federal Register on April 27, 2020.