[Federal Register Volume 87, Number 167 (Tuesday, August 30, 2022)]
[Notices]
[Pages 53022-53023]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-18633]


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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, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before September 29, 2022 to 
be assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by contacting Dawn Wolfgang at (703) 548-2279, emailing 
[email protected], or viewing the entire information collection 
request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION:
    OMB Number: 3133-0039.
    Type of Review: Extension of a currently 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: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 31.
    OMB Number: 3133-0129.
    Type of Review: Extension of a currently approved collection.
    Title: Corporate Credit Union, 12 CFR 704.
    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.

[[Page 53023]]

    Estimated Total Annual Burden Hours: 230.
    By Melane Conyers-Ausbrooks, Secretary of the Board, the National 
Credit Union Administration, on August 24, 2022.

    Dated: August 25, 2022.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2022-18633 Filed 8-29-22; 8:45 am]
BILLING CODE 7535-01-P