[Federal Register Volume 89, Number 137 (Wednesday, July 17, 2024)]
[Notices]
[Pages 58194-58195]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-15708]


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NATIONAL CREDIT UNION ADMINISTRATION


Renewal of Agency Information Collections for Comments Request: 
Proposed Collections

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comments.

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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: Written comments should be received on or before September 16, 
2024 to be assured consideration.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to Dacia Rogers, National Credit Union 
Administration, 1775 Duke Street, Alexandria, Virginia 22314, Suite 
5067; Fax No. (703) 519-8579; or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by contacting Dacia Rogers at (703) 718-1155.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0138.
    Title: Community Development Revolving Loan Fund--Loan and Grant 
Programs, 12 CFR part 705.
    Type of Review: Extension of a previously approved collection.
    Abstract: The Fund is used to support credit unions that serve low-
income communities by providing loans and technical assistance grants 
to qualifying institutions. The programs are designed to increase 
income, ownership, and employment opportunities for low-income 
residents, and to stimulate economic growth. In addition, the programs 
provide assistance to improve the quality of services to the community 
and formulate more effective and efficient operations of credit unions. 
The information will allow NCUA to assess a credit union's capacity to 
repay the Funds and/or ensure that the funds are used as intended to 
benefit the institution and community it serves.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 872.

    OMB Number: 3133-0149.
    Title: Credit Union Service Organizations (CUSOs) 12 CFR part 712.
    Type of Review: Extension of a previously approved collection.
    Abstract: Part 712 of NCUA's rules and regulations regulates the 
relationship between federally insured credit unions (FICUs) and credit 
union service organizations (CUSOs). The rule requires that FICUs enter 
into a written agreement with a CUSO (prior to investing in or loaning 
money to) which stipulates the CUSO will follow general accepted 
accounting principles (GAAP); prepare quarterly financial statements; 
grant NCUA access to the CUSO books and records, and annually report 
directly to NCUA via a CUSO registry.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 3,318.

    OMB Number: 3133-0183.
    Title: Golden Parachute and Indemnification Payments, 12 CFR part 
750.
    Type of Review: Extension of a previously approved collection.
    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 750.6 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 Total Annual Burden Hours: 19.

    OMB Number: 3133-0184.
    Title: Requirements for Insurance--Interest Rate Risk Policy.
    Type of Review: Extension of a previously approved collection.
    Abstract: Section 741.3(b)(5) of NCUA's rules and regulations 
requires federally-insured credit unions with assets of more than $50 
million to develop, as a prerequisites for insurability of its member 
deposits, a written interest rate risk management policy and a program 
to effectively implement the policy. The need for

[[Page 58195]]

FICU to have a written policy to establish responsibilities and 
procedures for identifying, measuring, monitoring, controlling, and 
reporting, and establishing risk limits are essential components of 
safe and sound credit union operations and to ensure the security of 
the National Credit Union Share Insurance Fund (NCUSIF).
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 773.

    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 previously approved collection.
    Abstract: The rule 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 Total Annual Burden Hours: 514.

    OMB Number: 3133-0198.
    Title: Appeals Procedures--12 CFR 746, Subpart B.
    Type of Review: Extension of a previously approved collection.
    Abstract: Part 746, subpart B, will govern most authorized appeals 
to the Board of adverse determinations made at program office levels 
under agency regulations that permit such an appeal. The procedures are 
intended to result in greater efficiency, consistency, and better 
understanding of the way in which matters under covered regulations may 
be appealed to the Board.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 440.
    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 
performance 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 the National Credit Union Administration Board.
Melane Conyers-Ausbrooks,
Secretary of the Board.
[FR Doc. 2024-15708 Filed 7-16-24; 8:45 am]
BILLING CODE 7535-01-P