[Federal Register Volume 81, Number 117 (Friday, June 17, 2016)]
[Notices]
[Pages 39719-39720]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-14362]


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NATIONAL CREDIT UNION ADMINISTRATION


Submission for OMB Review; Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice.

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SUMMARY: The National Credit Union Administration (NCUA) will submit 
the following information collection requests to the Office of 
Management and Budget (OMB) for review and clearance in accordance with 
the Paperwork Reduction Act of 1995, Public Law 104-13, on or after the 
date of publication of this notice.

DATES: Comments should be received on or before July 18, 2016 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
NCUA, New Executive Office Building, Room 10235, Washington, DC 20503, 
or email at [email protected] and (2) NCUA PRA Clearance 
Officer, 1775 Duke Street, Alexandria, VA 22314-3428 or email at 
[email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by emailing [email protected] or viewing the entire 
information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION:
    OMB Number: 3133-0039.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    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.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 935.
    OMB Number: 3133-0125.
    Title: Appraisals, 12 CFR 722.
    Abstract: NCUA Regulation Sec.  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

[[Page 39720]]

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 Annual Burden Hours: 280,000.
    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on June 8, 2016.

    Dated: June 14, 2016.
Troy S. Hillier,
NCUA PRA Clearance Officer.
[FR Doc. 2016-14362 Filed 6-16-16; 8:45 am]
 BILLING CODE 7535-01-P