Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request, 53163-53164 [2013-20943]
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Federal Register / Vol. 78, No. 167 / Wednesday, August 28, 2013 / Notices
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.
The NCUA rules and regulations, place
a maximum borrowing limit on
federally insured credit unions. State
chartered federally insured credit
unions must seek a waiver of the
borrowing limit from the NCUA
Regional Director prior to exceeding this
limitation.
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:
SUMMARY:
wreier-aviles on DSK5TPTVN1PROD with NOTICES
I. Abstract and Request for Comments
NCUA is reinstating the collection for
3133–0168. The collection of
information requirement is for those
state chartered federal insured credit
unions seeking a waiver from the
borrowing limit. These credit unions
must submit a detailed safety and
soundness analysis, a proposed
aggregate amount, a letter from the state
regulator approving the request and an
explanation of the need for the waiver
to the NCUA Regional Director. This
collection of information is necessary to
protect the National Credit Union Share
Insurance Fund (‘‘Fund’’). The NCUA
Board has determined that borrowing in
excess of 50 percent of paid-in and
unimpaired capital and surplus may
cause an undue risk to the Fund and a
loss of confidence in the credit union
system. The NCUA must be made aware
of and be able to monitor those credit
unions seeking a waiver from the
VerDate Mar<15>2010
15:21 Aug 27, 2013
Jkt 229001
requirement. There is no change in
burden hours from previous submission.
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.
NATIONAL CREDIT UNION
ADMINISTRATION
II. Data
53163
DATES:
Title: Maximum Borrowing Authority,
12 CFR 741.2.
OMB Number: 3133–0168.
Form Number: None.
Type of Review: Reinstatement,
without change, of a previously
approved collection.
Description: 12 CFR 741.2 places a
maximum borrowing limitation on
federally insured credit unions of 50
percent of paid-in and unimpaired
capital and surplus. The collection of
information requirement is for those
federally insured state-chartered credit
unions seeking a waiver from the
maximum borrowing limitation of 50
percent of paid-in and unimpaired
capital and surplus. These credit unions
must submit a detailed safety and
soundness analysis, a proposed
aggregate amount, a letter from the state
regulator approving the request and an
explanation of the need for the waiver
to the NCUA Regional Director.
Respondents: Credit unions.
Estimated No. of Respondents/
Recordkeepers: 2.
Estimated Burden Hours per
Response: 8 hours.
Frequency of Response: Reporting,
and on occasion.
Estimated Total Annual Burden
Hours: 16 hours.
Estimated Total Annual Cost: $496.
By the National Credit Union
Administration Board on August 22, 2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013–20940 Filed 8–27–13; 8:45 am]
BILLING CODE 7535–01–P
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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.
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 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: 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 federallyinsured credit union terminates federal
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28AUN1
53164
Federal Register / Vol. 78, No. 167 / Wednesday, August 28, 2013 / Notices
wreier-aviles on DSK5TPTVN1PROD 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 and
Regulations 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 (§ 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
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15:21 Aug 27, 2013
Jkt 229001
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 (§ 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
PO 00000
Frm 00038
Fmt 4703
Sfmt 9990
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 and Regulations 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 Number 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 August 22, 2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013–20943 Filed 8–27–13; 8:45 am]
BILLING CODE 7535–01–P
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]]>Agencies
[Federal Register Volume 78, Number 167 (Wednesday, August 28, 2013)]
[Notices]
[Pages 53163-53164]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-20943]
-----------------------------------------------------------------------
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. 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 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: 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 53164]]
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 and Regulations 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 and Regulations 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 Number 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 August 22,
2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-20943 Filed 8-27-13; 8:45 am]
BILLING CODE 7535-01-P
