(a) Any credit union which is insured pursuant to title II of the Act must adhere to the requirements stated in part 703 of this chapter concerning transacting business with corporate credit unions.

(b) Any credit union which is insured pursuant to title II of the Act must notify the applicable NCUA Regional Director in writing at least 30 days before it begins engaging in derivatives.

[79 FR 5247, Jan. 31, 2014, as amended at 84 FR 1608, Feb. 5, 2019]