Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request, 53163-53164 [2013-20943]

Download as PDF 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 PO 00000 Frm 00037 Fmt 4703 Sfmt 4703 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 E:\FR\FM\28AUN1.SGM 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 VerDate Mar<15>2010 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 E:\FR\FM\28AUN1.SGM 28AUN1

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]


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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. 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
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