[Federal Register Volume 84, Number 68 (Tuesday, April 9, 2019)]
[Notices]
[Pages 14135-14136]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-06969]
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NATIONAL CREDIT UNION ADMINISTRATION
Agency Information Collection Activities: Proposed Collection;
Comment Request
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 renewals of a currently approved collection, as required by
the Paperwork Reduction Act of 1995.
[[Page 14136]]
DATES: Written comments should be received on or before June 10, 2019
to be assured consideration.
ADDRESSES: Interested persons are invited to submit written comments on
the information collections 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: Address requests for additional
information to Dawn Wolfgang at the address above or telephone 703-548-
2279.
SUPPLEMENTARY INFORMATION:
OMB Number: 3133-0039.
Title: Borrowed Funds from Natural Persons, 12 CFR 701.38.
Type of Review: Extension of a currently approved collection.
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: Not-for-profit institutions.
Estimated No. of Respondents: 187.
Estimated Annual Frequency: 1.
Estimated Total Annual Responses: 187.
Estimated Annual Responses per Respondent: 0.167.
Estimated Total Annual Burden Hours: 31.
Reason for Change: Review of the previously reported burden has
been adjusted to only account for burden that falls under the PRA.
Regulatory burden has been removed. A reduction of 904 burden hours is
due to this adjustment. A total of 31 burden hours is requested.
OMB Number: 3133-0129.
Title: Corporate Credit Union, 12 CFR part 704.
Type of Review: Extension of a currently approved collection.
Abstract: Part 704 of NCUA's regulations established the regulatory
framework for corporate credit unions. This includes various reporting
and recordkeeping requirements as well as safety and soundness
standards. NCUA has established and regulates corporate credit unions
pursuant to its authority under sections 120, 201, and 209 of the
Federal Credit Union Act, 12 U.S.C. 1766(a), 1781, and 1789. The
collection of information is necessary to ensure that corporate credit
unions operate in a safe and sound manner by limiting risk to their
natural person credit union members and the National Credit Union Share
Insurance Fund.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated No. of Respondents: 11.
Estimated Annual Frequency: 20.18.
Estimated Total Annual Responses: 222.
Estimated Annual Responses per Respondent: 2.40.
Estimated Total Annual Burden Hours: 534.
Reason for Change: The adjustment in the number of respondents are
due to the decrease in the number of Corporate Credit Unions from 12 to
11 and the inclusion of information collection requirements that had
been omitted on the previous submission. These adjustments increase the
total burden request by 51 hours, for a total of 534 burden hours
requested.
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 April 4, 2019.
Dated: April 4, 2019.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2019-06969 Filed 4-8-19; 8:45 am]
BILLING CODE 7535-01-P