[Federal Register Volume 81, Number 69 (Monday, April 11, 2016)]
[Notices]
[Pages 21404-21405]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-08224]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities; Proposed Collections; 
Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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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 these reinstatements of previously approved 
collections, as required by the Paperwork Reduction Act of 1995 (Pub. 
L. 104-13, 44 U.S.C. Chapter 35).

DATES: Comments should be received on or before June 10, 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].

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

SUPPLEMENTARY INFORMATION:
    OMB Number: 3133-0039.
    Title: Borrowed Funds from Natural Persons, 12 CFR 701.38.
    Abstract: Section 701.38 of the NCUA regulations grants federal 
credit unions the authority to borrow funds from a natural person as 
long as they maintain a signed promissory note which includes the terms 
and conditions of maturity, repayment, interest rate, method of 
computation and method of payment; and the promissory note and any 
advertisements for borrowing have clearly visible language stating that 
the note represents money borrowed by the credit union and does not 
represent shares and is not insured by the National Credit Union 
Insurance Fund (NCUSIF). NCUA will use this information to ensure a 
credit union's natural person borrowings are in compliance and address 
all regulatory and safety and soundness requirements.
    Type of Review: Reinstatement without change of a previously 
approved collection.
    Affected Public: Private sector: not-for-profit institutions.
    Estimated No. of Respondents: 187.
    Estimated No. of Responses per Respondent: 2.
    Estimated Burden Hours per Response: 2.5.
    Estimated Total Annual Burden Hours: 935.

    OMB Number: 3133-0125.
    Title: Appraisals, 12 CFR part 722.
    Abstract: NCUA Regulation part 722 implements a statutory 
requirement that appraisals used in real estate transactions be made in 
writing and meet certain standards. This collection of information is 
associated with the requirement that credit unions retain a copy of the 
written assessment for real estate transactions over $250,000. Each 
federally insured credit union uses the information in determining 
whether and upon what terms to enter into a federally related 
transaction, such as making a loan secured by real estate. In addition, 
NCUA uses this information in its examinations of federally insured 
credit unions to ensure that extensions of credit by the federally-
insured credit union that are collateralized by real estate are 
undertaken in accordance with appropriate safety and soundness 
principles.
    Type of Review: Reinstatement without change of a previously 
approved collection.
    Affected Public: Private sector; not-for-profit institutions.
    Estimated No. of Respondents: 4,000.
    Estimated No. of Responses per Respondent: 280.
    Estimated Burden Hours per Response: 0.25.
    Estimated Total Annual Burden Hours: 280,000.

    OMB Number: 3133-0140.
    Title: Secondary Capital for Low-Income Designated Credit Unions.
    Abstract: Section 701.34 (b) of NCUA's regulations provide that 
designated low income credit unions (LICU) may accept secondary capital 
under certain conditions. This collection of information is necessary 
to obtain the information needed to ensure compliance with requirements 
related to acceptance and management of secondary capital. For those 
LICUs wishing to exercise their option to access secondary capital, 
NCUA requires that credit unions accepting secondary capital must 
develop and submit a plan for its acquisition, use and repayment. The 
information is used by NCUA to determine if the secondary capital will 
be managed by the credit union without risk to its financial condition, 
the U.S. government or the National Credit Union Share Insurance Fund.
    Type of Review: Reinstatement without change of a previously 
approved collection.
    Affected Public: Private sector; not-for-profit institutions.
    Estimated No. of Respondents: 72.
    Estimated No. of Responses per Respondent: 1.
    Estimated Burden Hours per Response: 15.92.
    Estimated Total Annual Burden Hours: 1,146.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and included in the

[[Page 21405]]

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 April 6, 2016.

    Dated: April 6, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-08224 Filed 4-8-16; 8:45 am]
 BILLING CODE 7535-01-P