[Federal Register Volume 86, Number 164 (Friday, August 27, 2021)]
[Notices]
[Pages 48251-48252]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-18475]


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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 extensions of a currently approved collection, as required by 
the Paperwork Reduction Act of 1995.

DATES: Written comments should be received on or before October 26, 
2021 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 6032, Alexandria, Virginia 
22314; email at [email protected]. Given the limited in-house staff 
because of the COVID-19 pandemic, email comments are preferred.

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: 3133-0183.
    Title: Golden Parachute and Indemnification Payments, 12 CFR part 
750.
    Type of Review: Extension of a currently approved collection.

[[Page 48252]]

    Abstract: This rule prohibits, in certain circumstances, a 
federally insured credit union (FICU) from making golden parachute and 
indemnification payments to an institution-affiliated party (IAP). 
Section 750.4 prescribed written concurrence of the appropriate state 
supervisory authority, if applicable; Sec.  750.5 covers recordkeeping 
requirements of permissible indemnification payments, and Sec.  750.6 
requires requests by a troubled FICU to make a severance or golden 
parachute payment to an IAP, to be submitted in writing to NCUA. The 
information will be used by the NCUA to determine whether an exception 
to the general prohibition on golden parachute payments should be 
approved.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Number of Respondents: 4.
    Estimated Number of Responses per Respondent: 2.25.
    Estimated Total Annual Responses: 9.
    Estimated Burden Hours per Response: 2.05.
    Estimated Total Annual Burden Hours: 19.
    Reason for Change: The number of respondents has been update to 
reflect current estimates and recordkeeping requirements prescribed 
under Sec.  750.5 are added that were previously omitted.

    OMB Number: 3133-0197.
    Title: Safe Harbor; Treatment of Financial Assets Transferred in 
Connection with a Securitization or Participation.
    Type of Review: Extension of a currently approved collection.
    Abstract: Section 709.9 clarifies the conditions for a safe harbor 
for securitization or participation and sets forth safe harbor 
protections for securitizations that do not comply with the new 
accounting standards for off balance sheet treatment by providing for 
expedited access to the financial assets that are securitized if they 
meet the conditions defined in the rule. The conditions contained in 
the rule will serve to protect the National Credit Union Share 
Insurance Fund (NCUSIF) and NCUA's interests as liquidating agent or 
conservator by aligning the conditions for the safe harbor with better 
and more sustainable lending practices by insured credit unions 
(FICUs).
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Number of Respondents: 4.
    Estimated Number of Responses per Respondent: 9.
    Estimated Total Annual Responses: 36.
    Estimated Burden Hours per Response: 14.28.
    Estimated Total Annual Burden Hours: 514.
    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 Melane Conyers-Ausbrooks, Secretary of the Board, the National 
Credit Union Administration, on August 23, 2021.

    Dated: August 24, 2021.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2021-18475 Filed 8-26-21; 8:45 am]
BILLING CODE 7535-01-P