Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request, 43242-43243 [2013-17343]
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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.
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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
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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
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
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Frm 00104
Fmt 4703
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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
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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]
-----------------------------------------------------------------------
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