Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request, 45572 [2013-18087]

Download as PDF 45572 Federal Register / Vol. 78, No. 145 / Monday, July 29, 2013 / Notices 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 is published to obtain comments from the public. Section 721.1(h) of the NCUA Rules and Regulations regulates purchases by federally insured credit unions of indirect vehicle loans serviced by thirdparties. 721.1(h) limits the aggregate amount of these loans serviced by any single third-party to a percentage of the credit union’s net worth. This rule ensures that federally insured credit unions do not undertake undue risk with these purchases. This data collection enables NCUA to evaluate waiver requests of these limits. DATES: Comments must be received on or before September 27, 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: mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: I. Abstract and request for comments NCUA is reinstating, with change, the collection for 3133–0171. NCUA Rules and Regulations § 701.21(h) establishes limits at federally-insured credit unions on the purchase of interests in indirect vehicle loans serviced by any particular third-party servicer. These indirect, VerDate Mar<15>2010 18:00 Jul 26, 2013 Jkt 229001 outsourced programs create numerous risks to the credit union, and the rule ensures that these risks will not lead to significant negative impacts on the credit union’s net worth and losses to the National Credit Union Share Insurance Fund. The rule allows a credit union to apply for a waiver of the limits, but to obtain a waiver the credit union must demonstrate to the NCUA that it understands the risks and has taken appropriate measures to monitor and protect itself against the risks. Because the waiver requests consist primarily of qualitative data, the NCUA call report system cannot be used for this collection. 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: Third Party Servicing of Indirect Vehicle Loans, 12 CFR § 701.21(h) OMB Number: 3133–0171. Form Number: None. Type of Review: Reinstatement, with change, of a previously approved collection. Description: The rule limits the aggregate amount of indirect vehicle loans that federally insured credit unions loans may have serviced by any single third-party to a percentage of the credit union’s net worth. Credit unions may apply for a waiver to this rule, which is the purpose of this data collection. Respondents: Federally insured credit unions. Estimated No. of Respondents/ Recordkeepers: 15. Estimated Burden Hours Per Response: 50 hours. Frequency of Response: Upon waiver request. Estimated Total Annual Burden Hours: 750 hours. Estimated Total Annual Cost: 750 hours x $31.56/hr, or $23,670. PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 By the National Credit Union Administration Board on July 23, 2013. Mary Rupp, Secretary of the Board. [FR Doc. 2013–18087 Filed 7–26–13; 8:45 am] BILLING CODE 7535–01–P NATIONAL CREDIT UNION ADMINISTRATION Agency Information Collection Activities: Submission to OMB for Reinstatement, Without Change, of a Previously Approved Collection; Comment Request National Credit Union Administration (NCUA). AGENCY: ACTION: Request for comment. 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 is published to obtain comments from the public. On March 22, 2010, the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and National Credit Union Administration (the agencies) published in the Federal Register a joint final notice (75 FR 13656) implementing the guidance effective on May 21, 2010. The Guidance reiterates the process that institutions should follow to appropriately identify, measure, monitor, and control their funding and liquidity risk. In particular, the Guidance re-emphasizes the importance of cash flow projections, diversified funding sources, stress testing, a cushion of liquid assets, and a formal well-developed contingency funding plan (CFP) as primary tools for measuring and managing liquidity risk. The agencies expect all financial institutions 1 to manage liquidity risk using processes and systems that are commensurate with the institution’s complexity, risk profile, and scope of operations. Liquidity risk management processes and plans should be well documented and available for supervisory review. Failure to maintain an adequate liquidity risk management process is considered an unsafe and unsound practice. SUMMARY: 1 This interagency guidance uses the term ‘‘financial institutions’’ or ‘‘institutions’’ to include banks, saving associations, credit unions, affiliated holding companies, state and federally chartered U.S. branches and agencies of foreign banks, and Edge and agreement corporations. E:\FR\FM\29JYN1.SGM 29JYN1

Agencies

[Federal Register Volume 78, Number 145 (Monday, July 29, 2013)]
[Notices]
[Page 45572]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-18087]



[[Page 45572]]

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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 is published to obtain 
comments from the public. Section 721.1(h) of the NCUA Rules and 
Regulations regulates purchases by federally insured credit unions of 
indirect vehicle loans serviced by third-parties. 721.1(h) limits the 
aggregate amount of these loans serviced by any single third-party to a 
percentage of the credit union's net worth. This rule ensures that 
federally insured credit unions do not undertake undue risk with these 
purchases. This data collection enables NCUA to evaluate waiver 
requests of these limits.

DATES: Comments must be received on or before September 27, 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:

I. Abstract and request for comments

    NCUA is reinstating, with change, the collection for 3133-0171. 
NCUA Rules and Regulations Sec.  701.21(h) establishes limits at 
federally-insured credit unions on the purchase of interests in 
indirect vehicle loans serviced by any particular third-party servicer. 
These indirect, outsourced programs create numerous risks to the credit 
union, and the rule ensures that these risks will not lead to 
significant negative impacts on the credit union's net worth and losses 
to the National Credit Union Share Insurance Fund. The rule allows a 
credit union to apply for a waiver of the limits, but to obtain a 
waiver the credit union must demonstrate to the NCUA that it 
understands the risks and has taken appropriate measures to monitor and 
protect itself against the risks. Because the waiver requests consist 
primarily of qualitative data, the NCUA call report system cannot be 
used for this collection.
    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: Third Party Servicing of Indirect Vehicle Loans, 12 CFR 
Sec.  701.21(h)
    OMB Number: 3133-0171.
    Form Number: None.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Description: The rule limits the aggregate amount of indirect 
vehicle loans that federally insured credit unions loans may have 
serviced by any single third-party to a percentage of the credit 
union's net worth. Credit unions may apply for a waiver to this rule, 
which is the purpose of this data collection.
    Respondents: Federally insured credit unions.
    Estimated No. of Respondents/Recordkeepers: 15.
    Estimated Burden Hours Per Response: 50 hours.
    Frequency of Response: Upon waiver request.
    Estimated Total Annual Burden Hours: 750 hours.
    Estimated Total Annual Cost: 750 hours x $31.56/hr, or $23,670.

    By the National Credit Union Administration Board on July 23, 
2013.
Mary Rupp,
Secretary of the Board.
[FR Doc. 2013-18087 Filed 7-26-13; 8:45 am]
BILLING CODE 7535-01-P