[Federal Register Volume 83, Number 144 (Thursday, July 26, 2018)]
[Notices]
[Page 35501]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-15982]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request; Purchase of Assets and Assumption of Liabilities

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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SUMMARY: The National Credit Union Administration (NCUA), as part of a 
continuing effort to reduce paperwork and respondent burden, invites 
the general public and other Federal agencies to comment on the 
following extension of a currently approved collection, as required by 
the Paperwork Reduction Act of 1995.

DATES: Written comments should be received on or before September 24, 
2018 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, Suite 5080, Alexandria, Virginia 
22314; 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 or telephone 703-548-2279.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0169.
    Title: Purchase of Assets and Assumption of Liabilities.
    Type of Review: Extension of a currently approved collection.
    Abstract: In accordance with Sec.  741.8, federally insured credit 
unions (FICUs) must request approval from the NCUA prior to purchasing 
assets or assuming liabilities of a privately insured credit union, 
other financial institution, or their successor interest. A FICU 
seeking approval must submit a letter to the appropriate NCUA Regional 
Director stating the nature of the transaction, and include copies of 
relevant transaction documents. Relevant transaction documents may 
include, but are not limited to: the credit union's financial 
statements, strategic plan, and budget, inventory of the assets and 
liabilities to be transferred, and any relevant contracts or agreements 
regarding the transfer. NCUA will use the information to determine the 
safety and soundness of the transaction and risk to the National Credit 
Union Share Insurance Fund (NCUSIF).
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Number of Respondents: 7.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Responses: 7.
    Estimated Burden Hours per Response: 120.
    Estimated Total Annual Burden Hours: 840.
    Reason for Change: The estimated hour burden per response has 
increased substantially from previous requests. NCUA has increased the 
time necessary to prepare and assemble the cover letter and the 
required transaction documents to reflect a more accurate accounting of 
burden associated with this reporting requirement.
    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 
execution 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 July 23, 2018.

    Dated: July 23, 2018.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2018-15982 Filed 7-25-18; 8:45 am]
BILLING CODE 7535-01-P