[Federal Register Volume 81, Number 57 (Thursday, March 24, 2016)]
[Notices]
[Pages 15754-15755]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-06667]


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

NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request; Central Liquidity Facilities, 12 CFR Part 725

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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

SUMMARY: NCUA, as part of its continuing effort to reduce paperwork and 
respondent burden, invites the general public and other Federal 
agencies to comment on a reinstatement of a previously approved 
collection, as required by the Paperwork Reduction Act of 1995 (Pub. L. 
104-13, 44 U.S.C. Chapter 35).

DATES: Written comments should be received on or before May 23, 2016 to 
be assured consideration.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to Troy Hillier, National Credit Union 
Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428; Fax 
No. 703-519-8595; or Email at [email protected].

[[Page 15755]]


FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to the address above.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0061.
    Title: Central Liquidity Facility, 12 CFR part 725.
    Form Number: NCUA Forms 7000, 7001, 7002, 7003, 7004, and CLF Forms 
8702, and 8703.
    Abstract: Part 725 contains the regulations implementing the 
National Credit Union Central Liquidity Facility Act, subchapter III of 
the Federal Credit Union Act. The NCUA Central Liquidity Facility is a 
mixed-ownership Government corporation within NCUA. It is managed by 
the NCUA Board and is owned by its member credit unions. The purpose of 
the Facility is to improve the general financial stability of credit 
unions by meeting their liquidity needs and thereby encourage savings, 
support consumer and mortgage lending and provide basic financial 
resources to all segments of the economy. The Central Liquidity 
Facility achieves this purpose through operation of a Central Liquidity 
Fund (CLF)
    Credit unions must join the CLF to gain access to CLF services. 
NCUA Rules and Regulations Sec.  725.3(a)(1) and 725.4(a)(1) state a 
credit union may become a member of the CLF by making application on a 
form approved the CLF and furnishing applicable supporting 
documentation. The information requested on the form and the supporting 
documentation is necessary to establish the relationship between the 
CLF and the credit union and to determine the amount of the applicant's 
stock subscription as required by 12 U.S.C. 1795c.
    NCUA Rules and Regulations Sec.  725.20, requires member of the 
Central Liquidity Fund (CLF), to sign the repayment, security and 
credit reporting agreement in order to receive loans from the CLF. This 
form (CLF-8703) is the contract required to document loans made by the 
CLF to have an enforceable legal right to repayment of said loan, 
create a security interest in the specified asset in case of non-
repayment, and establish reporting requirements for monitoring the 
credit union's financial condition when it has a CLF loan.
    A Central Liquidity Facility (CLF) member may apply for extensions 
of credit for short-term adjustment, seasonal and protracted adjustment 
credit to meet liquidity needs. The forms are necessary for the CLF to 
determine credit worthiness, as required by 12 U.S.C 1795e(2).
    Type of Review: Reinstatement with change of a previously approved 
collection.
    Affected Public: Any credit union wishing to join the CLF or apply 
for an extension of credit for the fund.
    Estimated No. of Respondents: 60.
    Frequency of Response: Upon occurrence of triggering action.
    Estimated Burden Hours per Response: For Repayment, Security and 
Credit Report Agreement, one hour; to copy and submit financial 
reports, one hour; to complete CLF application forms, 1.5 hours; to 
submit membership application, one hour.
    Estimated Total Annual Burden Hours: 175.
    Reason for Change: These forms were previously approved under 
separate OMB control numbers. This action combines them under a single 
number without making any substantive change to any of the forms 
themselves.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and included in the request for Office of Management 
and Budget approval. All comments will become a matter of public 
record. The public is invited to submit comments concerning: (a) 
Whether the collection of information is necessary for the proper 
performance of the function of the agency, including whether the 
information will have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information, 
including the validity of the methodology and assumptions used; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collection of 
the information on the respondents, including the use of automated 
collection techniques or other forms of information technology.

    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on March 21, 2016.
    Dated: March 21, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-06667 Filed 3-23-16; 8:45 am]
 BILLING CODE 7535-01-P