[Federal Register Volume 79, Number 116 (Tuesday, June 17, 2014)]
[Notices]
[Pages 34555-34556]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-14069]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission to OMB for 
Request for a New Collection; Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for Comment.

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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 appointed Liquidating Agent of a 
credit union when a credit union is placed into liquidation. NCUA is 
required to notify creditors (of the liquidated credit union) that they 
need to submit a claim to NCUA's Asset Management & Assistance Center 
(AMAC). This is a one-time requirement of which creditors will respond 
via the Proof of Claim form.

DATES: Comments will be accepted until August 18, 2014.

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 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 requesting comments on this new proposed collection. 
Section 709.4(b) of the NCUA Rules and Regulations (12 CFR 709) 
requires the liquidating agent to publish notice to creditors, 
instructing creditors to present their claims to the liquidating agent 
by a specified date. The collection of information requirement is that 
those creditors making a claim must document their claim and submit it 
to the liquidating agent. The information is used by NCUA to determine 
if a claim has been made against a liquidated credit union. Entities 
would be notified of the need to submit a claim via a letter sent 
directly to them, a published notice or via the NCUA Web site. 
Generally, one entity would have one claim against a credit union 
placed into liquidation. The liquidating agent would use the submitted 
form to determine a claim had been filed and evaluate it for payment. 
The information requested by this collection is required to be supplied 
only once by each creditor making a claim. The timeline for submitting 
claims is covered by statute.
    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.

II. Data

    Title: Proof of Claim Form and Instructions.
    OMB Number: 3133--NEW.
    Form Number: None.
    Type of Review: New collection.
    Description: Section 709.4(b) of the NCUA Rules and Regulations (12 
CFR 709) requires the liquidating agent to publish notice to creditors, 
instructing creditors to present their claims to the liquidating agent 
by a specified date via use of the Proof of Claim form. The information 
requested is required to be supplied only once by each creditor making 
a claim.
    Respondents: Creditors making a claim against a liquidated credit 
union.
    Estimated No. of Respondents/Recordkeepers: 200.
    Estimated Burden Hours per Response: 1 hour.
    Frequency of Response: Reporting and on occasion.
    Estimated Total Annual Burden Hours: 200 hours.
    Estimated Total Annual Cost: $10,000.


[[Page 34556]]


    By the National Credit Union Administration Board on: June 9, 
2014.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2014-14069 Filed 6-16-14; 8:45 am]
BILLING CODE 7535-01-P