[Federal Register Volume 81, Number 108 (Monday, June 6, 2016)]
[Notices]
[Page 36353]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-13240]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request; Payments on Shares by Public Units and Nonmembers

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 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 August 5, 2016 
to be assured consideration.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to Dawn Wolfgang, National Credit Union 
Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428; Fax 
No. 703-519-8579; or Email at [email protected].

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

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0114.
    Title: Payments on Shares by Public Units and Nonmembers.
    Abstract: Under section 107(6) of the Federal Credit Union Act 
(Act) and Sec.  701.32 of the NCUA Rules and Regulations, a Federal 
Credit Union may receive from public units and political subdivisions 
(as defined in Sec.  754.1) and nonmember credit unions, payments on 
shares. Limitations on nonmember and public unit deposits in federally 
insured credit unions is 20 percent of their shares or $3 million, 
whichever is greater. This collection of information is necessary to 
protect the National Credit Union Share Insurance Fund (``Fund''). The 
NCUA Board has determined that deposits in excess of 20 percent of 
shares or $3 million can cause an undue risk to the Fund and a loss of 
confidence in the credit union system. The NCUA must be made aware of 
and be able to monitor those credit unions seeking an exemption from 
the requirement.
    The information collection requirements is for those credit unions 
seeking an exemption from the nonmember deposit limit must adopt a 
specific written plan concerning the intended use of those shares and 
submit along with their lending and investment policies to the NCUA 
Regional Director. NCUA uses this information to determine whether or 
not a particular credit union will be granted an exemption to the limit 
on nonmember and public unit deposits. This collection of information 
is necessary to protect the National Credit Union Share Insurance Fund.
    Type of Review: Extension of a previously approved collection.
    Affected Public: Private Sector: Non-for-profit institutions.
    Estimated No. of Respondents/Recordkeepers: 20.
    Estimated Annual Frequency: 2.1.
    Estimated Annual No. of Responses: 42.
    Estimated Burden Hours per Response: 1.95.
    Estimated Total Annual Burden Hours: 82.
    Adjustment are being made to included additional information 
collections requirements of Sec.  701.32 that were omitted in the 
previous submission.
    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 June 1, 2016.

    Dated: June 1, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-13240 Filed 6-3-16; 8:45 am]
 BILLING CODE 7535-01-P