Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request, 43242-43243 [2013-17343]

Download as PDF 43242 Federal Register / Vol. 78, No. 139 / Friday, July 19, 2013 / Notices Comments will be accepted until September 17, 2013. ADDRESSES: Interested parties are invited to submit written comments to the NCUA Contact and the OMB Reviewer listed below: NCUA Contact: Tracy Crews, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314–3428, Fax No. 703–837–2861, Email: OCIOPRA@ncua.gov. OMB Contact: Office of Management and Budget, ATTN: Desk Officer for the National Credit Union Administration, Office of Information and Regulatory Affairs, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Requests for additional information, a copy of the information collection request, or a copy of submitted comments should be directed to Tracy Crews at the National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314–3428, or at (703) 518–6444. SUPPLEMENTARY INFORMATION: DATES: emcdonald on DSK67QTVN1PROD with NOTICES I. Abstract and Request for Comments NCUA is reinstating the collection for 3133–0169. FICUs will apply to the NCUA for approval to purchase assets or assume liabilities of privately-insured credit unions or other financial institutions. NCUA will use the information in the application to determine the safety and soundness of the transaction and risk to the National Credit Union Share Insurance Fund (NCUSIF). NCUA anticipates a FICU’s application for approval to purchase assets or assume liabilities of a privately-insured credit union or other financial institution would consist of a cover letter and any transaction documents already prepared by the FICU in conjunction with the anticipated purchase or assumption. NCUA believes this would take one hour or less to prepare and transmit the cover letter and attach any additional documents; therefore, there is no increase or decrease in the burden for this data collection. The term ‘‘transaction documents’’ include contracts, agreements, letters, offers, or similar documents already created between two parties as evidence of a transaction or negotiation. NCUA does not require FICUs to prepare these documents and believes they are created in the regular course of business. Therefore, NCUA has used one burden hour per credit union per filing required from an FICU to prepare a letter requesting NCUA’s approval of the transaction and describing the transaction. VerDate Mar<15>2010 15:33 Jul 18, 2013 Jkt 229001 The NCUA requests that you send your comments on this collection to the location listed in the addresses section. Your comments should address: (a) The necessity of the information collection for the proper performance of NCUA, including whether the information will have practical utility; (b) the accuracy of our estimate of the burden (hours and cost) of the collection of information, including the validity of the methodology and assumptions used; (c) ways we could enhance the quality, utility, and clarity of the information to be collected; and (d) ways we could minimize the burden of the collection of the information on the respondents such as through the use of automated collection techniques or other forms of information technology. It is NCUA’s policy to make all comments available to the public for review. II. Data Title: Purchase of Assets and Assumptions of Liabilities. OMB Number: 3133–0169. Form Number: None. Type of Review: Reinstatement without change. Description: This information collection is required under Section 205 of the Federal Credit Union Act (FCU Act) to allow federally-insured credit unions (FICUs) to purchase assets or assume liabilities of privately-insured credit unions, other financial institutions, or their successor in interest. Respondents: FICUs will apply to the NCUA for approval to purchase assets or assume liabilities of privately-insured credit unions or other financial institutions. Estimated No. of Respondents/ Recordkeepers: 5. Estimated Burden Hours per Response: 1 hour. Frequency of Response: Reporting and on occasion. Estimated Total Annual Burden Hours: 5 hours. Estimated Total Annual Cost: None. By the National Credit Union Administration Board, on July 15, 2013. Mary Rupp, Secretary of the Board. [FR Doc. 2013–17354 Filed 7–18–13; 8:45 am] BILLING CODE 7535–01–P PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 NATIONAL CREDIT UNION ADMINISTRATION Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request National Credit Union Administration (NCUA). ACTION: Request for comment. AGENCY: The NCUA intends to submit the following information collection to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104–13, 44 U.S.C. Chapter 35). This information collection notice is published to obtain comments from the public. This is related to NCUA’s regulation on mergers of federallyinsured credit unions and voluntary termination or conversion of insured status. SUMMARY: Comments will be accepted until September 17, 2013. ADDRESSES: Interested parties are invited to submit written comments to the NCUA Contact and the OMB Reviewer listed below: NCUA Contact: Tracy Crews, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314–3428, Fax No. 703–837–2861, Email: OCIOMail@ncua.gov. OMB Contact: Office of Management and Budget, ATTN: Desk Officer for the National Credit Union Administration, Office of Information and Regulatory Affairs, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Requests for additional information, a copy of the information collection request, or a copy of submitted comments should be directed to Tracy Crews at the National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314–3428, or at (703) 518–6444. SUPPLEMENTARY INFORMATION: DATES: I. Abstract and Request for Comments NCUA is reinstating a previously approved collection of information for 12 CFR part 708b, Mergers of FederallyInsured Credit Unions; Voluntary Termination or Conversion of Insured Status. The Federal Credit Union Act (Act) authorizes the NCUA Board to prescribe rules regarding mergers of federally-insured credit unions and changes in insured status and requires written approval of the Board before one or more federally-insured credit union(s) merge or before a federallyinsured credit union terminates federal E:\FR\FM\19JYN1.SGM 19JYN1 Federal Register / Vol. 78, No. 139 / Friday, July 19, 2013 / Notices emcdonald on DSK67QTVN1PROD with NOTICES share insurance or converts to nonfederal share insurance. 12 U.S.C. 1752(7), 1766(a), 1785(b), 1785(c), and 1789(a). Part 708b of NCUA’s rules sets forth the procedural and disclosure requirements for mergers of federallyinsured credit unions, federal share insurance terminations, and conversions from federal share insurance to nonfederal (private) insurance. The rule is designed to ensure NCUA has sufficient information to determine whether to approve a proposed merger, share insurance termination, or share insurance conversion. It further ensures that members of credit unions have sufficient and accurate information to exercise their vote properly concerning a proposed merger, insurance termination, or insurance conversion. The rule also protects the property interests of members who may lose their federal share insurance due to a merger, share insurance termination, or share insurance conversion. 12 CFR part 708b. The categories of burden for credit unions complying with part 708b may include the following: Mergers Each year, there are approximately 240 mergers involving federally-insured credit unions (both natural person and corporate credit unions). NCUA estimates it will take two merging credit unions approximately 35 hours between them to: a. Prepare the required merger documents (§ 708b.103); b. Collect and submit the required information to NCUA (§ 708b.104); c. Provide the required insurance disclosures in other communications that the credit union plans to send to its members if the merger involves a share insurance conversion (§ 708b.206); d. Notify members of the merger and send them the ballot (§§ 708b.106, 708b.303(a), 708b.303(b)); e. Notify NCUA of the results of the merger vote (§§ 708b.107, 708b.303(c)); f. Notify NCUA of the merger’s completion (§ 708b.108); and g. Notify members of the results of the merger and the possible effect on their insurance coverage (§ 708b.101(e)). The 240 respondents (the two merging credit unions together treated as one respondent) times 35 hours per respondent equals 8,400 total annual burden hours associated with this collection of information. Share Insurance Termination Typically, no credit unions each year engage in share insurance terminations. If one or more credit unions were to engage in a voluntary termination of insurance in the future, NCUA estimates VerDate Mar<15>2010 15:33 Jul 18, 2013 Jkt 229001 there will be minimal burden in the form of collections of information on those credit unions. NCUA estimates it will take each credit union approximately 12 hours to: a. Prepare the required termination documents and submit the required information to NCUA (§ 708b.201); b. Notify the members and send them the ballot (§ 708b.202); c. Provide the required insurance disclosures in other communications that the credit union plans to send to its members (§ 708b.206); d. Notify NCUA of the results of the termination vote (§ 708b.201(d)(2)); and e. Provide members notice of termination of insurance (§ 708b.202(c)). Zero respondents times 12 hours per respondent equals zero total annual burden hours associated with this collection of information. Share Insurance Conversions Approximately two credit unions each year engage in private share insurance conversions outside of the merger context. NCUA estimates there will be minimal burden in the form of collections of information, since NCUA provides forms and form language in the regulation. NCUA estimates that it will take each credit union approximately 12 hours to: a. Prepare the required conversion documents and submit the required information to NCUA (§§ 708b.203, 708b.301(a)); b. Notify members of the conversion and send them the ballot (§§ 708b.204, 708b.301(b) and (c)); c. Provide the required insurance disclosures in other communications that the credit union plans to send to its members (§ 708b.206); d. Notify NCUA of the results of the conversion vote (§ 708b.301(d)); and e. Provide members notice of conversion of insurance (§ 708b.204(c)). Two respondents times 12 hours per respondent equals 24 total annual burden hours associated with this collection of information. The NCUA requests that you send your comments on this collection for part 708b to the locations listed in the addresses section. Your comments should address: (a) The necessity of the information collection for the proper performance of NCUA, including whether the information will have practical utility; (b) the accuracy of our estimate of the burden (hours and cost) of the collection of information, including the validity of the methodology and assumptions used; (c) ways we could enhance the quality, utility, and clarity of the information to be collected; and (d) ways we could PO 00000 Frm 00104 Fmt 4703 Sfmt 9990 43243 minimize the burden of the collection of the information on the respondents such as through the use of automated collection techniques or other forms of information technology. It is NCUA’s policy to make all comments available to the public for review. II. Data OMB Number: 3133—0024. Form Number: None. Title: Mergers of Federally-Insured Credit Unions; Voluntary Termination or Conversion of Insured Status, 12 CFR part 708b. Type of Review: Reinstatement, with change, of a previously approved collection. Description: Part 708b of NCUA’s rules sets forth the procedural and disclosure requirements for mergers of federally-insured credit unions, federal share insurance terminations, and conversions from federal share insurance to nonfederal (private) insurance. Submission of this information is designed to ensure NCUA has sufficient information whether to approve a proposed merger, share insurance termination, or share insurance conversion. It further ensures that members of credit unions have sufficient and accurate information to exercise their vote properly concerning a proposed merger, insurance termination, or insurance conversion. The rule also protects the property interests of members who may lose their federal share insurance due to a merger, share insurance termination, or share insurance conversion. Respondents: Federally-insured credit unions. Estimated No. of Respondents: 242. Frequency of Response: Once; On occasion. Estimated Time per Response: Ranges from 12 to 35 hours. Estimated Total Annual Burden Hours: 8,424 hours. Estimated Total Annual Cost: $336,960. By the National Credit Union Administration Board on July 15, 2013. Mary Rupp, Secretary of the Board. [FR Doc. 2013–17343 Filed 7–18–13; 8:45 am] BILLING CODE 7535–01–P E:\FR\FM\19JYN1.SGM 19JYN1

Agencies

[Federal Register Volume 78, Number 139 (Friday, July 19, 2013)]
[Notices]
[Pages 43242-43243]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-17343]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission to OMB for 
Reinstatement, With Change, of a Previously Approved Collection; 
Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for comment.

-----------------------------------------------------------------------

SUMMARY: The NCUA intends to submit the following information 
collection to the Office of Management and Budget (OMB) for review and 
clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 
U.S.C. Chapter 35). This information collection notice is published to 
obtain comments from the public. This is related to NCUA's regulation 
on mergers of federally-insured credit unions and voluntary termination 
or conversion of insured status.

DATES: Comments will be accepted until September 17, 2013.

ADDRESSES: Interested parties are invited to submit written comments to 
the NCUA Contact and the OMB Reviewer listed below:
    NCUA Contact: Tracy Crews, National Credit Union Administration, 
1775 Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-
2861, Email: OCIOMail@ncua.gov.
    OMB Contact: Office of Management and Budget, ATTN: Desk Officer 
for the National Credit Union Administration, Office of Information and 
Regulatory Affairs, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Requests for additional information, a 
copy of the information collection request, or a copy of submitted 
comments should be directed to Tracy Crews at the National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314-3428, or at 
(703) 518-6444.

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is reinstating a previously approved collection of information 
for 12 CFR part 708b, Mergers of Federally-Insured Credit Unions; 
Voluntary Termination or Conversion of Insured Status. The Federal 
Credit Union Act (Act) authorizes the NCUA Board to prescribe rules 
regarding mergers of federally-insured credit unions and changes in 
insured status and requires written approval of the Board before one or 
more federally-insured credit union(s) merge or before a federally-
insured credit union terminates federal

[[Page 43243]]

share insurance or converts to nonfederal share insurance. 12 U.S.C. 
1752(7), 1766(a), 1785(b), 1785(c), and 1789(a). Part 708b of NCUA's 
rules sets forth the procedural and disclosure requirements for mergers 
of federally-insured credit unions, federal share insurance 
terminations, and conversions from federal share insurance to 
nonfederal (private) insurance. The rule is designed to ensure NCUA has 
sufficient information to determine whether to approve a proposed 
merger, share insurance termination, or share insurance conversion. It 
further ensures that members of credit unions have sufficient and 
accurate information to exercise their vote properly concerning a 
proposed merger, insurance termination, or insurance conversion. The 
rule also protects the property interests of members who may lose their 
federal share insurance due to a merger, share insurance termination, 
or share insurance conversion. 12 CFR part 708b.
    The categories of burden for credit unions complying with part 708b 
may include the following:

Mergers

    Each year, there are approximately 240 mergers involving federally-
insured credit unions (both natural person and corporate credit 
unions). NCUA estimates it will take two merging credit unions 
approximately 35 hours between them to:
    a. Prepare the required merger documents (Sec.  708b.103);
    b. Collect and submit the required information to NCUA (Sec.  
708b.104);
    c. Provide the required insurance disclosures in other 
communications that the credit union plans to send to its members if 
the merger involves a share insurance conversion (Sec.  708b.206);
    d. Notify members of the merger and send them the ballot 
(Sec. Sec.  708b.106, 708b.303(a), 708b.303(b));
    e. Notify NCUA of the results of the merger vote (Sec. Sec.  
708b.107, 708b.303(c));
    f. Notify NCUA of the merger's completion (Sec.  708b.108); and
    g. Notify members of the results of the merger and the possible 
effect on their insurance coverage (Sec.  708b.101(e)).
    The 240 respondents (the two merging credit unions together treated 
as one respondent) times 35 hours per respondent equals 8,400 total 
annual burden hours associated with this collection of information.

Share Insurance Termination

    Typically, no credit unions each year engage in share insurance 
terminations. If one or more credit unions were to engage in a 
voluntary termination of insurance in the future, NCUA estimates there 
will be minimal burden in the form of collections of information on 
those credit unions. NCUA estimates it will take each credit union 
approximately 12 hours to:
    a. Prepare the required termination documents and submit the 
required information to NCUA (Sec.  708b.201);
    b. Notify the members and send them the ballot (Sec.  708b.202);
    c. Provide the required insurance disclosures in other 
communications that the credit union plans to send to its members 
(Sec.  708b.206);
    d. Notify NCUA of the results of the termination vote (Sec.  
708b.201(d)(2)); and
    e. Provide members notice of termination of insurance (Sec.  
708b.202(c)).
    Zero respondents times 12 hours per respondent equals zero total 
annual burden hours associated with this collection of information.

Share Insurance Conversions

    Approximately two credit unions each year engage in private share 
insurance conversions outside of the merger context. NCUA estimates 
there will be minimal burden in the form of collections of information, 
since NCUA provides forms and form language in the regulation. NCUA 
estimates that it will take each credit union approximately 12 hours 
to:
    a. Prepare the required conversion documents and submit the 
required information to NCUA (Sec. Sec.  708b.203, 708b.301(a));
    b. Notify members of the conversion and send them the ballot 
(Sec. Sec.  708b.204, 708b.301(b) and (c));
    c. Provide the required insurance disclosures in other 
communications that the credit union plans to send to its members 
(Sec.  708b.206);
    d. Notify NCUA of the results of the conversion vote (Sec.  
708b.301(d)); and
    e. Provide members notice of conversion of insurance (Sec.  
708b.204(c)).
    Two respondents times 12 hours per respondent equals 24 total 
annual burden hours associated with this collection of information.
    The NCUA requests that you send your comments on this collection 
for part 708b to the locations listed in the addresses section. Your 
comments should address: (a) The necessity of the information 
collection for the proper performance of NCUA, including whether the 
information will have practical utility; (b) the accuracy of our 
estimate of the burden (hours and cost) of the collection of 
information, including the validity of the methodology and assumptions 
used; (c) ways we could enhance the quality, utility, and clarity of 
the information to be collected; and (d) ways we could minimize the 
burden of the collection of the information on the respondents such as 
through the use of automated collection techniques or other forms of 
information technology. It is NCUA's policy to make all comments 
available to the public for review.

II. Data

    OMB Number: 3133--0024.
    Form Number: None.
    Title: Mergers of Federally-Insured Credit Unions; Voluntary 
Termination or Conversion of Insured Status, 12 CFR part 708b.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Description: Part 708b of NCUA's rules sets forth the procedural 
and disclosure requirements for mergers of federally-insured credit 
unions, federal share insurance terminations, and conversions from 
federal share insurance to nonfederal (private) insurance. Submission 
of this information is designed to ensure NCUA has sufficient 
information whether to approve a proposed merger, share insurance 
termination, or share insurance conversion. It further ensures that 
members of credit unions have sufficient and accurate information to 
exercise their vote properly concerning a proposed merger, insurance 
termination, or insurance conversion. The rule also protects the 
property interests of members who may lose their federal share 
insurance due to a merger, share insurance termination, or share 
insurance conversion.
    Respondents: Federally-insured credit unions.
    Estimated No. of Respondents: 242.
    Frequency of Response: Once; On occasion.
    Estimated Time per Response: Ranges from 12 to 35 hours.
    Estimated Total Annual Burden Hours: 8,424 hours.
    Estimated Total Annual Cost: $336,960.

    By the National Credit Union Administration Board on July 15, 
2013.
Mary Rupp,
Secretary of the Board.
[FR Doc. 2013-17343 Filed 7-18-13; 8:45 am]
BILLING CODE 7535-01-P