Notice2024-15708
Renewal of Agency Information Collections for Comments Request: Proposed Collections
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
July 17, 2024
Issuing agencies
National Credit Union Administration
Abstract
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.
Full Text
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<title>Federal Register, Volume 89 Issue 137 (Wednesday, July 17, 2024)</title>
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[Federal Register Volume 89, Number 137 (Wednesday, July 17, 2024)]
[Notices]
[Pages 58194-58195]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[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 <a href="/cdn-cgi/l/email-protection#24747665674b4949414a5057646a6771650a434b52"><span class="__cf_email__" data-cfemail="1d4d4f5c5e7270707873696e5d535e485c337a726b">[email protected]</span></a>.
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
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