Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request, 54683-54684 [2013-21493]
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Federal Register / Vol. 78, No. 172 / Thursday, September 5, 2013 / Notices
maintain any information as specified
the bylaws. NCUA staff also reviewed
each Article of the FCU Bylaws to
estimate current annual burden hours
for FCUs attached to each ICR, and we
have listed these estimates below in the
Data section.
NCUA does not believe that FCUs will
incur any additional labor costs as a
result of the bylaw requirements since
these are in accordance with the FCUs’
usual and customary business practices.
The FCU bylaws address integral parts
of an FCU’s operations as memberowned, not-for-profit financial
cooperatives. Since an FCU could not
operate as federally chartered and
insured credit union without complying
with these collections, there is no
additional labor cost burden.
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 any
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.
ehiers on DSK2VPTVN1PROD with NOTICES
II. Data
Title: Federal Credit Union (FCU)
Bylaws, 12 CFR § 701.2, and App. A to
Part 701.
OMB Number: 3133–0052.
Form Number: N/A.
Type of Review: Reinstatement, with
change.
Description: FCUs use the information
they collect and maintain pursuant to
their bylaws in their operations and to
provide services to members. NCUA
uses the information both to regulate the
safety and soundness of FCUs and
protect the National Credit Union Share
Insurance Fund.
Respondents: All FCUs and, for Art. 2,
estimated number of new FCU members
(per year).
Estimated No. of Respondents/
Recordkeepers: 4,220 FCUs and
1,461,335 new members = 1,465,555.
Frequency of Response:
Recordkeeping, Reporting and on
occasion.
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14:10 Sep 04, 2013
Jkt 229001
Estimated Total Annual Hours
Requested: 458,477.75.
Estimated Total Annual Cost: N/A.
Specifically, NCUA Staff identified
the following articles as containing ICRs
with the following number of
respondents and the estimated annual
burden in hours, as follows:
ICRs related to FCU Bylaws,
specifically for newly chartered FCUs:
Respondents/record-keepers: 2 per
year.
Estimated annual burden: 20 hours.
Total annual hours: 40 hours.
ICRs related to Bylaws for all FCUs:
Article II. Qualifications for
Membership
ICR: Membership applications.
Respondents: 1,461,335 new members
of FCUs.
Estimated Annual Burden: 15 minutes
per application.
Total Annual Hours: 365,334.
ICR: Membership denial.
Respondents/record-keepers: 1055 [1⁄4
of all FCUs deny one member per year].
Estimated Annual Burden: 15 minutes
per denial.
Total Annual Hours: 263.75.
Article IV. Meetings of Members
ICR: Notices related to member
meetings.
Respondents/record-keepers: All
FCUs (4,220).
Estimated Annual Burden: 1 hour.
Total Annual Hours: 4,220.
Article V. Elections
ICR: Collecting and maintaining
information for FCU elections.
Respondents/record-keepers: All
FCUs (4,220).
Estimated Annual Burden: 8 hours.
Total Annual Hours: 33,760.
*Please note Article V, section 6,
contains an ICR on the report of
officials.
This ICR is addressed in another
NCUA PRA submission, 3133–0004.
Article VI. Board of Directors
ICR: Board meeting notices.
Respondents/record-keepers: All
FCUs (4,220).
Estimated Annual Burden: 1 hour.
Total Annual Hours: 4,220.
Article XVI. General
ICR: FCU recordkeeping specified in
sections 5 and 6. This includes, for
example, the time that it takes each FCU
time to prepare and maintain the
minutes of its board meetings, annual
meeting, and committees meetings.
NCUA’s estimate also includes retention
of the FCU’s certificate of incorporation,
bylaws, and any records of bylaw
amendments, which occur infrequently.
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54683
Respondents/record-keepers: All
FCUs (4,220).
Estimated Annual Burden: 12 hours
(1 hour per month).
Total Annual Hours: 50,640.
By the National Credit Union
Administration Board on August 29, 2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013–21495 Filed 9–4–13; 8:45 am]
BILLING CODE 7535–01–P
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 701.36 of the NCUA Rules and
Regulations regulates ownership of
fixed assets by federal credit unions.
This rule ensures that federal credit
unions do not undertake undue risk
related to fixed assets. Specifically,
section 701.36 limits the aggregate
amount of fixed assets, defines the
duration for which property can be held
before it must be occupied or disposed
and, defines prohibited transactions.
This information collection enables
NCUA to evaluate waiver requests of
these limitations.
DATES: Comments will be accepted until
October 7, 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
SUMMARY:
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54684
Federal Register / Vol. 78, No. 172 / Thursday, September 5, 2013 / Notices
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:
ehiers on DSK2VPTVN1PROD with NOTICES
I. Abstract and Request for Comments
NCUA is reinstating and amending
the collection for 3133–0040. 12 CFR
701.36 requires that a federal credit
union with $1 million or more in assets
obtain the approval of the NCUA before
investing in fixed assets in excess of 5%
of shares and retained earnings. This
section also requires that a federal credit
union prepare a definitive plan for full
use of premises acquired for future
expansion if it has not fully occupied
the premises within one year of
acquisition, and that a federal credit
union that has not at least partially
occupied such premises within three
years, six years for unimproved real
property, obtain NCUA approval to
continue without partial occupation.
This section also requires a federal
credit union that does not dispose of
abandoned property within 5 years of
abandonment obtain NCUA approval to
continue to hold the property. Federal
credit unions must also obtain NCUA
approval prior to investing in property
from a prohibited party. The rule
requires federal credit unions to submit
documentation in support of any of the
above requests. This information
collection requirement is submitted for
approval. The intent of the regulation
and associated information collection is
to prevent, or at least curb, excess
investments in fixed assets and the
related costs and expenses that may be
beyond the financial capability of the
credit union. Statistics indicate a
correlation between high fixed asset
investments and difficulty in achieving
positive earnings. Further, the Federal
Credit Union Act does not permit
federal credit unions to own real estate
for purposes other than for providing
financial services to members. NCUA
uses the information collection to
evaluate the impact a waiver approval
may have on the safety and soundness
of a federal credit union. The increase
in burden hours is associated with the
termination of the Regulatory Flexibility
Program. This program exempted
federal credit unions in certain standing
from the 5 percent limitation on fixed
assets. The end of the program has
resulted in an increase in waiver
requests. The NCUA requests that you
send your comments on this collection
to the location listed in the addresses
section. Your comments should address:
VerDate Mar<15>2010
14:10 Sep 04, 2013
Jkt 229001
(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.
AGENCY:
(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.
DATES: Comments will be accepted until
October 7, 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,
The NCUA intends to submit
the following information collection to
the Office of Management and Budget
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.
II. Data
Title: Federal Credit Union
Ownership of Fixed Assets.
OMB Number: 3133–0040.
Form Number: None.
Type of Review: Reinstatement, with
change, of a previously approved
collection.
Description: The rule limits the
aggregate amount of fixed assets, defines
the duration for which property can be
held before it must be occupied or
disposed and, defines prohibited
transactions. Credit unions may apply
for a waiver to these limitations, which
is the purpose of this data collection.
Respondents: Federal credit unions.
Estimated No. of Respondents/
Recordkeepers: 193.
Estimated Burden Hours per
Response: 14.7 hours.
Frequency of Response: On occasion.
Estimated Total Annual Burden
Hours: 2,830 hours.
Estimated Total Annual Cost:
$82,213.80
By the National Credit Union
Administration, Board August 29, 2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013–21493 Filed 9–4–13; 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).
ACTION: Request for comment.
SUMMARY:
PO 00000
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Fmt 4703
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]]>Agencies
[Federal Register Volume 78, Number 172 (Thursday, September 5, 2013)]
[Notices]
[Pages 54683-54684]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-21493]
-----------------------------------------------------------------------
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 701.36 of the NCUA Rules and
Regulations regulates ownership of fixed assets by federal credit
unions. This rule ensures that federal credit unions do not undertake
undue risk related to fixed assets. Specifically, section 701.36 limits
the aggregate amount of fixed assets, defines the duration for which
property can be held before it must be occupied or disposed and,
defines prohibited transactions. This information collection enables
NCUA to evaluate waiver requests of these limitations.
DATES: Comments will be accepted until October 7, 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
[[Page 54684]]
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 and amending the collection for 3133-0040. 12
CFR 701.36 requires that a federal credit union with $1 million or more
in assets obtain the approval of the NCUA before investing in fixed
assets in excess of 5% of shares and retained earnings. This section
also requires that a federal credit union prepare a definitive plan for
full use of premises acquired for future expansion if it has not fully
occupied the premises within one year of acquisition, and that a
federal credit union that has not at least partially occupied such
premises within three years, six years for unimproved real property,
obtain NCUA approval to continue without partial occupation. This
section also requires a federal credit union that does not dispose of
abandoned property within 5 years of abandonment obtain NCUA approval
to continue to hold the property. Federal credit unions must also
obtain NCUA approval prior to investing in property from a prohibited
party. The rule requires federal credit unions to submit documentation
in support of any of the above requests. This information collection
requirement is submitted for approval. The intent of the regulation and
associated information collection is to prevent, or at least curb,
excess investments in fixed assets and the related costs and expenses
that may be beyond the financial capability of the credit union.
Statistics indicate a correlation between high fixed asset investments
and difficulty in achieving positive earnings. Further, the Federal
Credit Union Act does not permit federal credit unions to own real
estate for purposes other than for providing financial services to
members. NCUA uses the information collection to evaluate the impact a
waiver approval may have on the safety and soundness of a federal
credit union. The increase in burden hours is associated with the
termination of the Regulatory Flexibility Program. This program
exempted federal credit unions in certain standing from the 5 percent
limitation on fixed assets. The end of the program has resulted in an
increase in waiver requests. 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: Federal Credit Union Ownership of Fixed Assets.
OMB Number: 3133-0040.
Form Number: None.
Type of Review: Reinstatement, with change, of a previously
approved collection.
Description: The rule limits the aggregate amount of fixed assets,
defines the duration for which property can be held before it must be
occupied or disposed and, defines prohibited transactions. Credit
unions may apply for a waiver to these limitations, which is the
purpose of this data collection.
Respondents: Federal credit unions.
Estimated No. of Respondents/Recordkeepers: 193.
Estimated Burden Hours per Response: 14.7 hours.
Frequency of Response: On occasion.
Estimated Total Annual Burden Hours: 2,830 hours.
Estimated Total Annual Cost: $82,213.80
By the National Credit Union Administration, Board August 29,
2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-21493 Filed 9-4-13; 8:45 am]
BILLING CODE 7535-01-P
