Notice2023-20453
Agency Information Collection Activities: Proposed Collection
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 21, 2023
Issuing agencies
National Credit Union Administration
Abstract
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 new collection, as required by the Paperwork Reduction Act of 1995.
Full Text
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<title>Federal Register, Volume 88 Issue 182 (Thursday, September 21, 2023)</title>
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[Federal Register Volume 88, Number 182 (Thursday, September 21, 2023)]
[Notices]
[Pages 65205-65206]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-20453]
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NATIONAL CREDIT UNION ADMINISTRATION
Agency Information Collection Activities: Proposed Collection
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice and request for comments.
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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 new collection, as required by the Paperwork Reduction Act of
1995.
DATES: Written comments should be received on or before November 20,
2023 to be assured consideration.
[[Page 65206]]
ADDRESSES: Interested persons are invited to submit written comments on
the information collection to Mahala Vixamar, National Credit Union
Administration, 1775 Duke Street, Suite 6032, Alexandria, Virginia
22314; email at <a href="/cdn-cgi/l/email-protection#2c7c7e6d6f4341414942585f6c626f796d024b435a"><span class="__cf_email__" data-cfemail="9bcbc9dad8f4f6f6fef5efe8dbd5d8cedab5fcf4ed">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: Address requests for additional
information to Mahala Vixamar at the address above or telephone (703)
718-1155.
SUPPLEMENTARY INFORMATION:
OMB Number: 3133-NEW.
Title: Supervisory Stress Test Annual Data Collection, 12 CFR part
702, subpart C.
Type of Review: New collection.
Abstract: The NCUA Board (Board) has determined, to protect the
National Credit Union Share Insurance Fund (NCUSIF) and the credit
union system, that the largest Federally Insured Credit Unions (FICUs)
should have systems and processes in place to monitor and maintain
their capital adequacy. Subpart C of part 702 of NCUA's regulations
codifies capital planning and stress testing requirements for federally
insured credit unions with $10 billion or more in assets (covered
credit unions). Covered credit unions are further delineated by asset
tiers. Tier I are credit union with $10 billion or more in total
assets, but less than $15 billion in total assets; tier II are credit
union with $15 billion or more in total assets, but less than $20
billion in total assets; and tier III are credit union with $20 billion
or more in total assets. Tier II and III credit unions are required to
conduct supervisory stress tests and section 702.306 (b) codifies that
NCUA reserves the right to conduct stress tests of covered credit
unions at any time and where both NCUA and a covered credit union have
conducted the tests, the results of NCUA's tests will determine whether
the covered credit union has met the requirements of this subpart. To
facilitate NCUA's ability to conduct supervisory stress test on covered
credit unions, section 702.306(d) requires that covered credit unions
must provide NCUA with any relevant qualitative or quantitative
information requested by NCUA pertinent to capital plans or stress test
under this part.
Affected Public: Private sector: Not-for-profit institutions.
Estimated Number of Respondents: 12.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 12.
Estimated Hours per Response: 20.
Estimated Total Annual Burden Hours: 240.
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. 2023-20453 Filed 9-20-23; 8:45 am]
BILLING CODE 7535-01-P
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