Notice2024-24705
Renewal of Agency Information Collection of a Previously Approved Collection; Request for Comments
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
October 24, 2024
Issuing agencies
National Credit Union Administration
Abstract
As required by the Paperwork Reduction Act of 1995, The National Credit Union Administration (NCUA) is submitting the following extensions and revisions of currently approved collections to the Office of Management and Budget (OMB) for renewal.
Full Text
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<title>Federal Register, Volume 89 Issue 206 (Thursday, October 24, 2024)</title>
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[Federal Register Volume 89, Number 206 (Thursday, October 24, 2024)]
[Notices]
[Pages 84936-84938]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-24705]
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NATIONAL CREDIT UNION ADMINISTRATION
Renewal of Agency Information Collection of a Previously Approved
Collection; Request for Comments
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice of submission to the Office of Management and Budget.
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SUMMARY: As required by the Paperwork Reduction Act of 1995, The
National Credit Union Administration (NCUA) is submitting the following
extensions and revisions of currently approved collections to the
Office of Management and Budget (OMB) for renewal.
DATES: Written comments should be received on or before November 25,
2024 to be assured consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. 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 Dacia Rogers at (703) 518-6547, emailing
<a href="/cdn-cgi/l/email-protection#cd9d9f8c8ea2a0a0a8a3b9be8da3aeb8ace3aaa2bb"><span class="__cf_email__" data-cfemail="f6a6a4b7b5999b9b93988285b698958397d8919980">[email protected]</span></a>, or viewing the entire information collection
request at <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
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 Number of Respondents: 34.
[[Page 84937]]
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 34.
Estimated Hours per Response: 12.94117647.
Estimated Total Annual Burden Hours: 440.
OMB Number: 3133-0184.
Title: Requirements for Insurance--Interest Rate Risk Policy.
Type of Review: Revision of a currently 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 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 Number of Respondents: 2,460.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 2,460.
Estimated Hours per Response: 0.31504065.
Estimated Total Annual Burden Hours: 775.
Reason for Change: Number of respondents increased from 2,452 to
2,460.
OMB Number: 3133-0183.
Title: Golden Parachute and Indemnification Payments, 12 CFR part
750.
Type of Review: Revision of a currently 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 Number of Respondents: 3.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 7.
Estimated Hours per Response: 2.
Estimated Total Annual Burden Hours: 14.
Reason for Change: Number of respondents decreased from 4 to 3.
OMB Number: 3133-0149.
Title: Credit Union Service Organizations (CUSOs) 12 CFR part 712.
Type of Review: Revision of a currently 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 Number of Respondents: 1,256.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 1,256.
Estimated Hours per Response: 1.455414013.
Estimated Total Annual Burden Hours: 1,828.
Reason for Change: Number of respondents adjusted.
OMB Number: 3133-0197.
Title: Safe Harbor; Treatment of Financial Assets Transferred in
Connection with a Securitization or Participation.
Type of Review: Revision of a currently 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 Number of Respondents: 7.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 63.
Estimated Hours per Response: 10.
Estimated Total Annual Burden Hours: 630.
Reason for Change: Number of respondents increased from 514 to 630.
OMB Number: 3133-0138.
Title: Community Development Revolving Loan Fund--Loan and Grant
Programs, 12 CFR part 705.
Type of Review: Revision of a currently 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 Number of Respondents: 335.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 761.
Estimated Hours per Response: 1.033508541.
Estimated Total Annual Burden Hours: 787.
Reason for Change: Number of respondents adjusted.
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,
[[Page 84938]]
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. 2024-24705 Filed 10-23-24; 8:45 am]
BILLING CODE 7535-01-P
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