[Federal Register Volume 67, Number 89 (Wednesday, May 8, 2002)]
[Rules and Regulations]
[Pages 30772-30774]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-11220]


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NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Parts 790 and 792


Description of NCUA; Requests for Agency Action and Requests for 
Information under the Freedom Of Information Act and Privacy Act, and 
by Subpoena; Security Procedures for Classified Information

AGENCY: National Credit Union Administration (NCUA).

ACTION: Final rule.

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SUMMARY: The National Credit Union Administration (NCUA) Board approved 
its fiscal year 2002 budget at its November 15, 2002, board meeting. 
The fiscal year 2002 budget includes several changes to NCUA's central 
office structure that will reduce costs and improve efficiency at the 
agency. The changes involve the elimination of some offices and a 
transfer of the duties of

[[Page 30773]]

those offices to either existing offices or the newly created Office of 
Strategic Program Support and Planning (OSPSP).

EFFECTIVE DATE: This rule is effective May 8, 2002.

FOR FURTHER INFORMATION CONTACT: Mary Rupp, Staff Attorney, Division of 
Operations, Office of General Counsel, (703) 518-6540, National Credit 
Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428.

SUPPLEMENTARY INFORMATION: NCUA in conjunction with its fiscal year 
2002 budget is restructuring its central office. This restructuring 
consists of: establishing an OSPSP; transferring the functions of the 
Office of Investment Services (OIS) and the Director of Strategic 
Planning (DSP) into OSPSP; transferring the functions of the Office of 
Administration (OA) to the Office of Chief Information Officer (OCIO), 
the Office of Public and Congressional Affairs (PACA) and the Office of 
the Chief Financial Officer (OCFO); and integrating the Office of 
Training (OTD) into the Office of Human Resources (OHR). The NCUA Board 
is amending parts 790 and 792 of its regulations, to conform them to 
the restructured central office. 12 CFR parts 790 and 792.

Regulatory Procedures

Final Rule Under the Administrative Procedure Act

    The revisions made to this part are not subject to the notice and 
comment provisions of the Administrative Procedure Act (APA), 5 U.S.C. 
551 et seq. The final rule revisions relate only to matters relating to 
agency management and personnel, topics exempt from APA requirements. 5 
U.S.C. 553(a)(2).

Effective Date

    NCUA also finds good cause to dispense with the 30-day delayed 
effective date requirement under sec. 553(d)(3) of the APA. The rule 
relates only to internal agency procedures and does not affect the 
public. The rule will, therefore, be effective immediately upon 
publication of this notice.

Regulatory Flexibility Act

    An initial regulatory flexibility analysis under the Regulatory 
Flexibility Act is required only when an agency is required to publish 
a general notice of proposed rulemaking for any proposed rule. 5 U.S.C. 
603. As noted previously, NCUA has determined that it is unnecessary to 
publish a notice of proposed rulemaking for this rule. Accordingly, an 
initial regulatory analysis is not required. Moreover, since this final 
rule imposes no new requirements and makes only housekeeping 
amendments, NCUA has determined and certifies that this rule will not 
have any significant economic impact on a substantial number of small 
credit unions (primarily those under $1 million in assets).

Small Business Regulatory Enforcement Fairness Act

    Title II of the Small Business Regulatory Enforcement Fairness Act 
(SBREFA) of 1996 (Pub. L. 104-121) provides, generally, for 
congressional review of agency rules. A reporting requirement is 
triggered in instances where NCUA issues a final rule as defined by 
Section 551 of the Administrative Procedures Act. 5 U.S.C. 551. The 
Office of Management and Budget has reviewed this rule and has 
determined that for purposes of the Small Business Regulatory 
Enforcement Fairness Act of 1996 it is not a major rule.

Paperwork Reduction Act

    NCUA has determined that the final rule does not increase paperwork 
requirements under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 
et seq.) and regulations of the Office of Management and Budget.

Executive Order 13132 Statement

    Executive Order 13132 encourages independent regulatory agencies to 
consider the impact of their regulatory actions on state and local 
interests. In adherence to fundamental federalism principles, NCUA, an 
independent regulatory agency as defined in 44 U.S.C. 3502(5), 
voluntarily complies with the executive order. NCUA has determined that 
this final rule does not constitute a policy that has federalism 
implications for purposes of the executive order.

List of Subjects

12 CFR Parts 790 and 792

    Credit unions.

    By the National Credit Union Administration Board on April 29, 
2002.
Becky Baker,
Secretary of the Board.

    For the reasons stated in the preamble, NCUA amends 12 CFR chapter 
VII as set forth below:

PART 790--DESCRIPTION OF NCUA; REQUESTS FOR AGENCY ACTION

    1. The authority citation for part 790 continues to read as 
follows:

    Authority: 12 U.S.C. 1766, 1789, 1795f.


    2. Amend Sec. 790.2 as follows:
    a. Remove paragraphs (b)(3), and (b)(15);
    b. Redesignate paragraphs (b)(4) through (b)(14) as paragraphs 
(b)(3) through (b)(13) and paragraph (b)(16) as paragraph (b)(14);
    c. Add one new sentence to the end of redesignated paragraphs 
(b)(4), (b)(8), (b)(9) and (b)(11);
    d. Add ``and carrying out the Board's responsibilities under the 
Privacy Act'' to the end of the last sentence of redesignated paragraph 
(b)(7); and
    e. Revise redesignated paragraph (b)(13) as follows:


Sec. 790.2  Central and Regional Office Organization.

* * * * *
    (b) * * *
    (4) * * * The Director is also responsible for providing NCUA's 
executive offices and Regional Directors with administrative services, 
including: agency security; contracting and procurement; management of 
equipment and supplies; acquisition; printing; and warehousing and 
distribution.
* * * * *
    (8) * * * The Director is also responsible for providing a 
comprehensive program for the training and development of NCUA's staff, 
including developing policy consistent with the Government Employees 
Training Act; providing training opportunities equitably so that all 
employees have the skills necessary to help meet the agency's mission; 
evaluating the agency's training and development efforts; and ensuring 
that the agencies training monies are spent in a cost efficient manner 
and in accordance with the law.
    (9) * * * The Chief Information Officer is also responsible for 
carrying out the Board's responsibilities under the Paperwork Reduction 
Act and in directing NCUA responses to reporting requirements.
* * * * *
    (11) * * *. The Director is also responsible for providing NCUA's 
executive offices and Regional Directors with graphics.
* * * * *
    (13) Office of Strategic Program Support and Planning. This office 
is responsible for providing interest rate risk assessment, investment 
expertise and advice to the Board and agency staff and conducting 
research and development to assess risk areas of emerging products, 
delivery systems, infrastructure issues, and investments. The office 
provides leadership, vision and focus on the internal and external 
environment related to the development

[[Page 30774]]

of the agency's long range planning and implementation of the 
Government Performance Act of 1993. The office provides a macro view of 
the industry in a way that can be integrated into the day-to-day 
program functions. A working relationship is maintained with the 
financial marketplace to develop resources available to the NCUA and 
keep abreast of product initiatives. The NCUA Investment Hotline housed 
in this office is a toll-free number that is available to examiners, 
credit unions and financial product vendors to ask investment related 
questions. The Hotline provides NCUA an opportunity to be aware of 
current investment issues as they arise in credit unions and has 
permitted NCUA to become proactive, rather than reactive, to such 
issues. In addition, investment officers advise agency management on 
the purchase of authorized investments for the NCUSIF and the CLF.
* * * * *

PART 792--REQUESTS FOR INFORMATION UNDER THE FREEDOM OF INFORMATION 
ACT AND PRIVACY ACT, AND BY SUBPOENA; SECURITY PROCEDURES FOR 
CLASSIFIED INFORMATION

    3. The authority citation for part 792 continues to read as 
follows:

    Authority: 12 U.S.C. 1766, 12 U.S.C. 1789, 12 U.S.C. 1795f, 5 
U.S.C. 552b, Executive Orders 12600 and 12356.


Sec. 792.50  [Amended]

    4. In 12 CFR 792.50(b) remove the last sentence.


Sec. 792.51  [Amended]

    5. In 12 CFR 792.51(b) remove the words ``Administrative Office'' 
in the third sentence and add in their place, the words ``Office of 
Chief Financial Officer''.


Secs. 792.50 and 792.51  [Amended]

    6. In addition to the amendments set forth above, in 12 CFR part 
792 remove the words ``Director of Office of Administration'' and add 
in their place, the words ``NCUA's Chief Financial Officer'' and remove 
the words ``Director'' and add in their place, the words ``Chief 
Financial Officer'' in the following places:
    a. Section 792.50 (a) and (b); and
    b. Section 792.51(a), (b), (c) and (d).


Sec. 792.54  [Amended]

    7. In 12 CFR 792.54(a) remove the words ``Director of the 
Administrative Office'' in the second sentence and add in their place 
the words ``Privacy Act Officer, Office of General Counsel.''


Sec. 792.69  [Amended]

    7. In 12 CFR 792.69(a) remove the words ``Director of the Office of 
Training and Development'' and add in their place the words ``Director 
of the Office of Human Resources.''

[FR Doc. 02-11220 Filed 5-7-02; 8:45 am]
BILLING CODE 7535-01-U