[Federal Register Volume 77, Number 102 (Friday, May 25, 2012)]
[Notices]
[Pages 31400-31401]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-12782]


=======================================================================
-----------------------------------------------------------------------

NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission to OMB for 
Revision to a Currently Approved Information Collection; Comment 
Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for comment.

-----------------------------------------------------------------------

SUMMARY: The NCUA intends to submit the following information 
collection to the Office of Management and Budget (OMB) for review and 
clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 
U.S.C. Chapter 35). This information collection is published to obtain 
comments from the public. NCUA is proposing a data collection change to 
the credit union Profile as well as the 5300 Call Report. NCUA is 
proposing to add a new account to the Contacts section of the Profile 
to identify the initial date of election or appointment of each 
official to help assess the longevity of credit union board members. 
Additionally, NCUA is planning to add a question to the Regulatory 
section of the Profile where credit unions will be required to certify 
their compliance with 12 CFR 701.4. On the 5300 Call Report, NCUA will 
revise the regulatory reporting requirements by eliminating the data 
collection on modified loans and target data collection efforts on 
loans meeting the definition of a troubled debt restructured loan under 
Generally Accepted Accounting Principles.

DATES: Comments will be accepted until July 24, 2012.

ADDRESSES: Interested parties are invited to submit written comments to 
the NCUA Contact and the OMB Reviewer listed below:
NCUA Contact: Tracy Crews, National Credit Union Administration, 1775 
Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-2861, 
Email: [email protected].
OMB Contact: Office of Management and Budget, Attn: Desk Officer for 
the National Credit Union Administration, Office of Information

[[Page 31401]]

and Regulatory Affairs, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Requests for additional information, a 
copy of the information collection request, or a copy of submitted 
comments should be directed to Tracy Crews at the National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314-3428, or at 
(703) 518-6444.

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is amending the currently approved collection for 3133-0004. 
Two specific forms are used, NCUA Form 5300 and NCUA Profile Form 
4501A, also known as the Call Report and Profile, respectively. Section 
741.6 of the NCUA Rules and Regulations requires all federally insured 
credit unions to submit a Call Report quarterly. 12 CFR 741.6. The 
information enables the NCUA to monitor credit unions whose share 
accounts are insured by the National Credit Union Share Insurance Fund. 
NCUA uses the information collected from these Call Reports to fulfill 
its mission of supervising credit unions and the Federal Reserve Board 
uses it to monitor and control the nation's money supply and the system 
of financial institutions. Congress and various state legislatures use 
this information to monitor, regulate, and control credit unions and 
financial institutions. The changes made to the Profile and Call Report 
form for December 2012 will help the National Credit Union 
Administration assess the longevity of credit union board members and 
provide data to assess financial risks and loan practices of credit 
unions. There is a decrease of 4,515 hours from the last submission 
(2011). The decrease is noted as an adjustment of the number of credit 
unions completing Form 5300 from 7,264 federally insured credit unions 
to 7,093. This decline is due strictly to credit union mergers and 
liquidations.
    The NCUA requests that you send your comments on this collection to 
the location listed in the addresses section. Your comments should 
address: (a) The necessity of the information collection for the proper 
performance of NCUA, including whether the information will have 
practical utility; (b) the accuracy of our estimate of the burden 
(hours and cost) of the collection of information, including the 
validity of the methodology and assumptions used; (c) ways we could 
enhance the quality, utility, and clarity of the information to be 
collected; and (d) ways we could minimize the burden of the collection 
of the information on the respondents such as through the use of 
automated collection techniques or other forms of information 
technology. It is NCUA's policy to make all comments available to the 
public for review. Comments submitted in response to this notice will 
be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record.

II. Data

    Proposal for the following collection of information:
    OMB Number: 3133-0004.
    Form Number: NCUA 5300.
    Type of Review: Revision to the currently approved collection.
    Title: Revisions to NCUA Call Reports.
    Description: The financial and statistical information is essential 
to NCUA in carrying out its responsibility for the supervision of 
federally insured credit unions. The information also enables NCUA to 
monitor all federally insured credit unions whose share accounts are 
insured by the National Credit Union Share Insurance Fund (NCUSIF).
    Respondents: All Credit Unions.
    Estimated Number of Respondents/Recordkeepers: 7,093.
    Estimated Burden Hours per Response: 6.6 hours.
    Frequency of Response: Quarterly.
    Estimated Total Annual Burden Hours: 187,255.
    Estimated Total Annual Cost: $5,495,934.

    By the National Credit Union Administration Board on May 18, 
2012.
Mary Rupp,
Secretary of the Board.
[FR Doc. 2012-12782 Filed 5-24-12; 8:45 am]
BILLING CODE 7535-01-P