[Federal Register Volume 80, Number 236 (Wednesday, December 9, 2015)]
[Notices]
[Page 76583]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-30934]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission for Office 
of Management and Budget Review; Comment Request; for Reinstatement 
With Change of a Previously Approved Collection; Organization and 
Operation of Federal Credit Unions--Loan Participation

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for comment.

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SUMMARY: National Credit Union Administration is announcing that a 
proposed collection of information has been submitted to the Office of 
Management and Budget (OMB) for review and clearance under the 
Paperwork Reduction Act of 1995 (PRA). This is related to NCUA's 
regulation 701.22 that outlines requirements for loan participation 
programs. The rule requires various information collections, which NCUA 
uses to ensure credit unions have implemented a safe and sound loan 
participation program.

DATES: Comments will be accepted until January 8, 2016.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to:

NCUA Contact: Tracy Crews, National Credit Union Administration, 1775 
Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-2861, 
Email: [email protected]
OMB Reviewer: 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 
should be directed to:

NCUA Contact: Tracy Crews, National Credit Union Administration, 1775 
Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-2861, 
Email: [email protected]

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is requesting comments on 3133-0141; Organization and 
Operation of Federal Credit Unions--Loan Participation, 12 CFR part 
701.22. NCUA's regulation, 12 CFR (Sec.  701.22), outlines loan 
participation requirements. Loan participations pose inherent risk to 
the NCUSIF due to the interconnectedness between participants. Section 
741.225 extends the requirements of Section 701.22 of NCUA's 
regulations to Federally Insured State Chartered Credit Unions 
(FISCUs), noting there are strong indications of potential risk to the 
NCUSIF from FISCUs' loan participation activity. Section 701.22 
includes three collection requirements (1) maintenance of a written 
policy, (2) requirements on the purchasing credit union to have a 
written loan participation agreement, (3) options to apply for waivers 
from concentration limits.
    In the Federal Register of August 28, 2015, (80 FR 52344), NCUA 
published a 60-day notice requesting public comment on the proposed 
collection of information. NCUA received no comments.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid OMB control number.
    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: Organization and Operation of Federal Credit Unions--Loan 
Participation, 12 CFR part 701.22.
    OMB Number: 3133-0141.
    Form Number: None.
    Type of Review: Reinstatement with change.
    Description: Section 701.22 of NCUA's regulations, 12 CFR 701.22, 
outlines the requirements for the administration of a loan 
participation program. Section 741 of NCUA's regulations, 12 CFR 
741.225, extends 12 CFR 701.22 to Federally Insured State Chartered 
Credit Unions. Section 701.22 includes various collections which NCUA 
uses to ensure credit unions have implemented a safe and sound program.
    Respondents: Federally Insured Credit Unions.
    Estimated No. of Respondents/Recordkeepers: 1,515 for loan 
participation policy revision and loan agreement retention, 10 for 
waiver submission and 1 for appeal request.
    Estimated Burden Hours per Response: 3 hours per policy revision, 4 
hours per waiver submission and 4 hours per appeal.
    Frequency of Response: One time and optionally with each waiver 
submission.
    Estimated Total Annual Burden Hours: 4,589 hours total.
    Estimated Total Annual Cost: $146,343.21.

    By the National Credit Union Administration Board on November 
18, 2015.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2015-30934 Filed 12-8-15; 8:45 am]
BILLING CODE 7535-01-P