Agency Information Collection Activities: Submission to OMB for Reinstatement, Without Change, of a Previously Approved Collection; Comment Request, 53172 [2013-20942]

Agencies

• National Credit Union Administration

[Federal Register Volume 78, Number 167 (Wednesday, August 28, 2013)]
[Notices]
[Page 53172]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-20942]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission to OMB for 
Reinstatement, Without Change, of a Previously Approved Collection; 
Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for comment.

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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. This information 
collection is published to obtain comments from the public and 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.

DATES: Comments will be accepted until 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 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.
    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 August 22, 
2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-20942 Filed 8-27-13; 8:45 am]
BILLING CODE 7535-01-P