Agency Information Collection Activities: Submission to OMB for Reinstatement, With Change, of a Previously Approved Collection; Comment Request, 59975-59976 [2013-23803]

Download as PDF Federal Register / Vol. 78, No. 189 / Monday, September 30, 2013 / Notices imminent threats to the safety of human life or protection of property. Since it would be impracticable for the OFR to make case-by-case determinations as to whether certain documents are directly related to activities that qualify for an exemption under the Antideficiency Act, the OFR will place responsibility on agencies submitting documents to certify that their documents relate to emergency activities authorized under the Act. During a funding hiatus affecting one or more Federal agencies, the OFR will remain open to accept and process documents authorized to be published in the daily Federal Register in the absence of continuing appropriations. An agency wishing to submit a document to the OFR during a funding hiatus must attach a transmittal letter to the document which states that publication in the Federal Register is necessary to safeguard human life, protect property, or provide other emergency services consistent with the performance of functions and services exempted under the Antideficiency Act. Under the August 16, 1995 opinion of the Office of Legal Counsel of the Department of Justice, exempt functions and services would include activities such as those related to the constitutional duties of the President, food and drug inspection, air traffic control, responses to natural or manmade disasters, law enforcement and supervision of financial markets. Documents related to normal or routine activities of Federal agencies, even if funded under prior year appropriations, will not be published. At the onset of a funding hiatus, the OFR may suspend the regular three-day publication schedule to permit a limited number of exempt personnel to process emergency documents. Agency officials will be informed as to the schedule for filing and publishing individual documents. Authority: The authority for this action is 44 U.S.C. 1502 and 1 CFR 2.4 and 5.1. Dated: September 25, 2013. Charles A. Barth, Director of the Federal Register. [FR Doc. 2013–23713 Filed 9–27–13; 8:45 am] tkelley on DSK3SPTVN1PROD with NOTICES BILLING CODE 1505–02–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. NCUA requires this information collection to comply with the Depository Institution Management Interlocks Act (Interlocks Act) and to determine federally insured credit unions’ compliance with NCUA’s Management Official Interlocks regulation at 12 CFR Part 711. DATES: Comments will be accepted until October 30, 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. For information about the Interlocks Act and NCUA’s regulation at Part 711, please contact NCUA’s Office of General Counsel at (703) 518–6540 or ogcmail@ncua.gov. SUPPLEMENTARY INFORMATION: SUMMARY: I. Abstract and Request for Comments NCUA is reinstating its OMB collection number 3133–0152 for its Management Official Interlocks regulation, 12 CFR Part 711, which implements the Interlocks Act for federally insured credit unions. The VerDate Mar<15>2010 18:06 Sep 27, 2013 Jkt 229001 PO 00000 Frm 00065 Fmt 4703 Sfmt 4703 59975 Interlocks Act generally prohibits financial institution management officials from serving simultaneously with two unaffiliated depository institutions or their holding companies. 12 U.S.C. 3201–3208. For credit unions, the Interlocks Act restricts interlocks between credit unions and other types of financial institutions, not between two or more credit unions. 12 U.S.C. 3204(3). NCUA last substantively revised 12 CFR Part 711 in 1999, as part of a coordinated interagency effort with other federal financial regulatory agencies. 64 FR 66356–66360, Nov. 26, 1999. NCUA finds information collection burdens associated with this regulation still apply and is reinstating this OMB collection number 3133–0152. The information collections associated with Part 711 are as follows. • Under 711.3, a credit union may have to maintain records to determine whether the major assets prohibition applies. • Under 711.4(h)(1)(i), a credit union must notify NCUA to obtain approval to have a director in common with a diversified savings and loan holding company. • Under 711.5, a credit union may have to maintain records to comply with the small market share exemption. • Under 711.6(a), a credit union seeking a general exemption to a management official interlocks prohibition in 711.3 would have to compile information and submit an application to NCUA for approval. The NCUA requests that you send your comments on this collection to the location(s) 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: Management Official Interlocks, 12 CFR Part 711. OMB Number: 3133–0152. Form Number: None. E:\FR\FM\30SEN1.SGM 30SEN1 59976 Federal Register / Vol. 78, No. 189 / Monday, September 30, 2013 / Notices Type of Review: Reinstatement, with change, of a previously approved collection. Description: NCUA’s management official interlocks regulation at 12 CFR Part 711 directs federally insured credit unions having a common management official with another type financial institution to compile and maintain records and, in some cases, submit an application to NCUA for a general exemption to certain prohibitions, or otherwise obtain NCUA approval. Respondents: All federally insured credit unions. Estimated No. of Respondents/ Recordkeepers: 2. Estimated Burden Hours per Response: 3 hours. Frequency of Response: Recordkeeping; upon application and reporting. Estimated Total Annual Burden Hours: 6. Estimated Total Annual Cost: $0. By the National Credit Union Administration Board on September 25, 2013. Gerard Poliquin, Secretary of the Board. [FR Doc. 2013–23803 Filed 9–27–13; 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 not from any new requirements. It is a reinstatement of a prior collection related to NCUA’s leasing rule. The rule requires a federal credit union engaged in leasing to obtain or have on file financial documentation demonstrating that the guarantor of an estimated residual value can meet the guarantee. This information collection is being published to obtain comments from the public. DATES: Comments will be accepted until October 30, 2013. ADDRESSES: Interested parties are invited to submit written comments to tkelley on DSK3SPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 18:06 Sep 27, 2013 Jkt 229001 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 amending and reinstating the collection for 3133–0151 for NCUA’s leasing regulation. 12 CFR part 714. In a leasing situation, the NCUA requires the financially responsible party to guarantee the excess when the residual value of a lease will exceed 25% of the original cost of the leased property. 12 CFR 714.5. The guarantor may be the manufacturer or an insurance company. The federal credit union must obtain and have on file financial documentation demonstrating that the guarantor has the resources to meet the guarantee. If a manufacturer is involved, the federal credit union must review financial statements for the period that would establish a reasonable financial trend. If an insurance company is involved, it must have a major company rating of at least a B+. The federal credit union will use the information as part of the risk assessment process to analyze and evaluate the financial capabilities and resources of a party that guarantees the residual value used in a leasing arrangement. There are currently 35 federal credit unions offering leases. Most leases are offered with residual payments of less than 25% of the original leased property value. Therefore, there are a limited number of leases requiring a guarantee. This is estimated to be 5 transactions per year for federal credit unions offering leases. The hourly burden per transaction is approximately 2 hours. Completing the financial review requires a combination of clerical and officer time which is estimated to be a blended hourly rate of $60. Therefore, the estimated annual hourly burden for federal credit unions offering leases is 350 hours, at an hourly cost of $60 PO 00000 Frm 00066 Fmt 4703 Sfmt 9990 resulting in an estimated annual financial burden of $21,000. The burden is minimal and offset by the additional benefit of mitigating and reducing the potential for losses to the credit union. 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: Leasing—Statistical Documentation Required for a Guarantor of a Residual Value, 12 CFR Part 714. OMB Number: 3133–0151. Form Number: None. Type of Review: Reinstatement, with change, of a previously approved collection. Description: Part 714 of NCUA’s Rules and Regulations directs federal credit unions to evaluate whether a guarantor of a residual value has the financial resources to meet the guarantee. Respondents: All federal credit unions. Estimated No. of Respondents/ Recordkeepers: 35. Estimated Burden Hours Per Response: 2 hours Estimated Frequency of Response: 5 annually for each respondent/ recordkeeper. Estimated Total Annual Burden Hours: 350. Estimated Total Annual Cost: $21,000. By the National Credit Union Administration Board on September 25, 2013. Gerard Poliquin, Secretary of the Board. [FR Doc. 2013–23806 Filed 9–27–13; 8:45 am] BILLING CODE 7535–01–P E:\FR\FM\30SEN1.SGM 30SEN1

Agencies

[Federal Register Volume 78, Number 189 (Monday, September 30, 2013)]
[Notices]
[Pages 59975-59976]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-23803]


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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. NCUA requires this information collection to 
comply with the Depository Institution Management Interlocks Act 
(Interlocks Act) and to determine federally insured credit unions' 
compliance with NCUA's Management Official Interlocks regulation at 12 
CFR Part 711.

DATES: Comments will be accepted until October 30, 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. For information about the Interlocks Act and NCUA's 
regulation at Part 711, please contact NCUA's Office of General Counsel 
at (703) 518-6540 or ogcmail@ncua.gov.

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is reinstating its OMB collection number 3133-0152 for its 
Management Official Interlocks regulation, 12 CFR Part 711, which 
implements the Interlocks Act for federally insured credit unions. The 
Interlocks Act generally prohibits financial institution management 
officials from serving simultaneously with two unaffiliated depository 
institutions or their holding companies. 12 U.S.C. 3201-3208. For 
credit unions, the Interlocks Act restricts interlocks between credit 
unions and other types of financial institutions, not between two or 
more credit unions. 12 U.S.C. 3204(3). NCUA last substantively revised 
12 CFR Part 711 in 1999, as part of a coordinated interagency effort 
with other federal financial regulatory agencies. 64 FR 66356-66360, 
Nov. 26, 1999.
    NCUA finds information collection burdens associated with this 
regulation still apply and is reinstating this OMB collection number 
3133-0152. The information collections associated with Part 711 are as 
follows.
     Under 711.3, a credit union may have to maintain records 
to determine whether the major assets prohibition applies.
     Under 711.4(h)(1)(i), a credit union must notify NCUA to 
obtain approval to have a director in common with a diversified savings 
and loan holding company.
     Under 711.5, a credit union may have to maintain records 
to comply with the small market share exemption.
     Under 711.6(a), a credit union seeking a general exemption 
to a management official interlocks prohibition in 711.3 would have to 
compile information and submit an application to NCUA for approval.
    The NCUA requests that you send your comments on this collection to 
the location(s) 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: Management Official Interlocks, 12 CFR Part 711.
    OMB Number: 3133-0152.
    Form Number: None.

[[Page 59976]]

    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Description: NCUA's management official interlocks regulation at 12 
CFR Part 711 directs federally insured credit unions having a common 
management official with another type financial institution to compile 
and maintain records and, in some cases, submit an application to NCUA 
for a general exemption to certain prohibitions, or otherwise obtain 
NCUA approval.
    Respondents: All federally insured credit unions.
    Estimated No. of Respondents/Recordkeepers: 2.
    Estimated Burden Hours per Response: 3 hours.
    Frequency of Response: Recordkeeping; upon application and 
reporting.
    Estimated Total Annual Burden Hours: 6.
    Estimated Total Annual Cost: $0.

    By the National Credit Union Administration Board on September 
25, 2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-23803 Filed 9-27-13; 8:45 am]
BILLING CODE 7535-01-P
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