[Federal Register Volume 87, Number 125 (Thursday, June 30, 2022)]
[Notices]
[Pages 39131-39132]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-14053]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collections

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 currently approved collections, as required by 
the Paperwork Reduction Act of 1995.

DATES: Written comments should be received on or before August 29, 2022 
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: 3133-0039.
    Title: Borrowed Funds from Natural Person.
    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 No. of Responses per Respondent: 1.
    Estimated Total Annual Responses: 187.
    Estimated Burden Hours per Response: 0.167.
    Estimated Total Annual Burden Hours: 31.
    OMB Number: 3133-0129.
    Title: Corporate Credit Union, 12 CFR 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 Sec. Sec.  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 No. of Responses per Respondent: 21.91.
    Estimated Total Annual Responses: 241.
    Estimated Burden Hours per Response: 0.95.
    Estimated Total Annual Burden Hours: 230.
    Reason for change: Adjustments were made to correct the ``type'' of 
burden identified and the addition of a few information collection 
requirements previously omitted; for a decrease of 266 burden hours.
    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

[[Page 39132]]

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 June 27, 2022.

    Dated: June 27, 2022.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2022-14053 Filed 6-29-22; 8:45 am]
BILLING CODE 7535-01-P