Request for Comment Regarding National Credit Union Administration Draft 2018-2022 Strategic Plan, 46297-46298 [2017-21304]

Download as PDF Federal Register / Vol. 82, No. 191 / Wednesday, October 4, 2017 / Notices requirements. It is imperative that the meeting be held on these dates to the scheduling priorities of the key participants. [FR Doc. 2017–21448 Filed 10–2–17; 4:15 pm] BILLING CODE 9211–03–P NATIONAL AERONAUTICS AND SPACE ADMINISTRATION Patricia D. Rausch, Advisory Committee Management Officer, National Aeronautics and Space Administration. [Notice: (17–072)] NASA Advisory Council; Science Committee; Ad Hoc Task Force on Big Data; Meeting National Aeronautics and Space Administration. ACTION: Notice of meeting. AGENCY: sradovich on DSK3GMQ082PROD with NOTICES VerDate Sep<11>2014 20:18 Oct 03, 2017 Jkt 244001 BILLING CODE 7510–13–P NATIONAL CREDIT UNION ADMINISTRATION In accordance with the Federal Advisory Committee Act, as amended, the National Aeronautics and Space Administration (NASA) announces a meeting of the Ad Hoc Big Data Task Force (BDTF). This task force reports to the NASA Advisory Council’s Science Committee. The meeting will be held for the purpose of soliciting and discussing, from the scientific community and other persons, scientific and technical information relevant to big data. DATES: Wednesday, November 1, 2017, 8:30 a.m.–5:00 p.m.; Thursday, November 2, 2017, 8:30 a.m.–5:00 p.m.; and Friday, November 3, 2017, 8:30 a.m.–5:00 p.m., Local Time. ADDRESSES: Jet Propulsion Laboratory ´ ´ (JPL), Theodore von Karman Auditorium, 4800 Oak Grove Drive, Pasadena, CA 91011. FOR FURTHER INFORMATION CONTACT: Ms. KarShelia Henderson, Science Mission Directorate, NASA Headquarters, Washington, DC 20546, (202) 358–2355, fax (202) 358–2779, or khenderson@ nasa.gov. SUPPLEMENTARY INFORMATION: The meeting will be open to the public up to the capacity of the room. The meeting will also be available telephonically and by WebEx. You must use a touch tone phone to participate in this meeting. Any interested person may dial the USA toll free conference call number 888– 324–9653, or toll number 1–312–470– 7273, passcode 3883300, to participate in this meeting by telephone for all three days. The WebEx link is https:// nasa.webex.com/; the meeting number is 991 009 965 and the password is BDTFmtg#6 for all three days. The agenda for the meeting includes the following topics: —Update on JPL/Caltech Data Science Programs and Projects —Review of BDTF Studies —Discussion of Draft Findings and Recommendations. Attendees will be requested to sign a register and to comply with JPL security SUMMARY: [FR Doc. 2017–21255 Filed 10–3–17; 8:45 am] Request for Comment Regarding National Credit Union Administration Draft 2018–2022 Strategic Plan National Credit Union Administration (NCUA). ACTION: Notice and request for comment. AGENCY: The NCUA Board (Board) is requesting comment on its 2018–2022 Draft Strategic Plan. The NCUA 2018– 2022 Draft Strategic Plan summarizes our analysis of the internal and external environment impacting NCUA; evaluates NCUA programs and risks; and provides goals and objectives for the next five years. While the Board welcomes all comments from the public and stakeholders, it specifically invites comments and input on the proposed goals and objectives of the strategic plan. SUMMARY: Comments must be received on or before December 4, 2017 to be assured of consideration. ADDRESSES: You may submit comments by any of the following methods (Please send comments by one method only): • NCUA Web site: https:// www.ncua.gov/about/pages/boardcomments.aspx. Follow the instructions for submitting comments. • Email: Address to boardcomments@ ncua.gov. Include ‘‘[Your name]— Comments on NCUA 2018–2022 Draft Strategic Plan’’ in the email subject line. • Fax: (703) 518–6319. Include your name and the following subject line: ‘‘Comments on NCUA 2018–2022 Draft Strategic Plan.’’ • Mail: Address to Gerard Poliquin, Secretary of the Board, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314– 3428. • Hand Delivery/Courier: Same as mail address. Public Inspection: You can view all public comments on NCUA’s Web site at https://www.ncua.gov/about/pages/ board-comments.aspx as submitted, except for those we cannot post for technical reasons. NCUA will not edit or DATES: PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 46297 remove any identifying or contact information from the public comments submitted. You may inspect paper copies of comments at NCUA’s headquarters at 1775 Duke Street, Alexandria, Virginia 22314, by appointment weekdays between 9 a.m. and 3 p.m. To make an appointment, call (703) 518–6570 or send an email to boardcomments@ncua.gov. FOR FURTHER INFORMATION CONTACT: Melissa Lowden, Management Analyst, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314–3428 or telephone: (703) 518– 1182. Authority: 5 U.S.C. 306. The Government Performance and Results Act of 1993 (GPRA) requires agencies to prepare strategic plans, annual performance plans and annual performance reports with measurable performance indicators to address the policy, budgeting and oversight needs of both Congress and agency leaders, partners/stakeholders, and program managers. In 2010, Congress passed the GPRA Modernization Act of 2010, which further requires a leadershipdriven governance model with emphasis on quarterly reviews and transparency. The GPRA Modernization Act requires agencies to set priority goals linked to longer-term Agency strategic goals. Part 6 of Office of Management and Budget (OMB) Circular A–11 provides additional guidance and requirements for federal agencies to implement these laws. The NCUA Draft Strategic Plan 2018–2022 is issued pursuant to the GPRA, the GPRA Modernization Act, and OMB Circular A–11. The NCUA 2018–2022 Draft Strategic Plan outlines how the agency will continue to effectively supervise and insure a growing and evolving credit union system. As the financial services and the credit union sector evolve, NCUA must adjust to meet the challenges the changes provide. In response, we are adopting new technology and analytical tools to improve the agency’s offsite monitoring capabilities. Additionally, we are recalibrating our examination approach to reflect a more stable economic environment. We also are revising the agency’s operations, priorities and structure to ensure our objectives match those prescribed in the Federal Credit Union Act, while at the same time efficiently using the agency’s resources. In the years ahead, NCUA also plans to advance meaningful regulatory relief by fully reevaluating our rules and working to modify them as appropriate, improving the uniformity of SUPPLEMENTARY INFORMATION: E:\FR\FM\04OCN1.SGM 04OCN1 46298 Federal Register / Vol. 82, No. 191 / Wednesday, October 4, 2017 / Notices examinations, implementing an improved examination appeals process, and mitigating the largest risks to the Share Insurance Fund. By publishing the proposed NCUA 2018–2022 Strategic Plan in the Federal Register, as well as posting it on our Web site at www.ncua.gov, NCUA continues its ongoing commitment to transparency about the agency’s future plans and actions. The NCUA 2018–2022 Draft Strategic Plan is available at the following Web address: https://www.ncua.gov/About/ Pages/budget-strategic-planning/ annual-plan.aspx. By the National Credit Union Administration Board on September 28, 2017. Gerard Poliquin, Secretary of the Board. [FR Doc. 2017–21304 Filed 10–3–17; 8:45 am] BILLING CODE P NATIONAL CREDIT UNION ADMINISTRATION Closing the Temporary Corporate Credit Union Stabilization Fund and Setting the Share Insurance Fund Normal Operating Level National Credit Union Administration (NCUA). ACTION: Final notice. AGENCY: In July 2017, the NCUA Board (Board) sought comments on its plan to close the Temporary Corporate Credit Union Stabilization Fund (Stabilization Fund) in 2017, prior to its scheduled closing date in June 2021, and raise the normal operating level of the National Credit Union Share Insurance Fund (Insurance Fund) to 1.39 percent. This final notice provides a discussion of comments received and explains the Board’s decision to close the Stabilization Fund in 2017. This notice also explains the Board’s decision to set the normal operating level of the Insurance Fund to 1.39 percent. FOR FURTHER INFORMATION CONTACT: Anthony Cappetta, Supervisory Financial Analyst, Amanda Parkhill, Loss/Risk Analysis Officer, or Kevin Tuininga, Senior Staff Attorney, at 1775 Duke Street, Alexandria, VA 22314, or telephone: (703) 518–1592. SUPPLEMENTARY INFORMATION: sradovich on DSK3GMQ082PROD with NOTICES SUMMARY: I. Background II. Comments Received III. The Board’s Response to Comments IV. Final Action I. Background On July 20, 2017, the Board approved a Notice and Request for Comment (July VerDate Sep<11>2014 20:18 Oct 03, 2017 Jkt 244001 2017 Notice) requesting comments on its plan to close the Stabilization Fund in 2017 and set the normal operating level at 1.39 percent. The notice appeared in the Federal Register on July 27, 2017.1 Specific matters the Board sought comment on included whether the NCUA should: • Close the Stabilization Fund in 2017, close it at some future date, or wait until it is currently scheduled to close in 2021. • Set the normal operating level based on the Insurance Fund’s ability to withstand a moderate recession without requiring assessments over a five-year period. • Set the normal operating level based on the Insurance Fund’s ability to withstand a severe recession without requiring assessments over a five-year period. • Base the approach to setting the normal operating level on preventing the equity ratio from declining below 1.20 percent, or some other higher minimum level. The Board requested comments by September 5, 2017, which would allow the Board sufficient time to permit closing before the end of 2017 and establish a distribution method to insured credit unions to the extent the closure caused the Insurance Fund’s equity ratio to exceed its normal operating level, as of the end of 2017. In a separate but related proposal, also adopted on July 20, 2017, the Board requested comments on its regulation governing equity distributions from the Insurance Fund.2 A. Stabilization Fund Background Public Law 111–22, the Helping Families Save Their Homes Act of 2009 (Helping Families Act), signed into law by the President on May 20, 2009, created the Stabilization Fund. Congress provided the NCUA with this temporary fund to accrue the losses of the corporate credit union system and assess insured credit unions for such losses over time. This prevented insured credit unions from bearing a significant burden for losses associated with the insolvency of five corporate credit unions within a short period. Without creation of the Stabilization Fund, corporate credit union losses would have been borne by the Insurance Fund. The magnitude of losses would have exhausted the Insurance Fund’s retained 1 Closing the Temporary Corporate Credit Union Stabilization Fund and Setting the Share Insurance Fund Normal Operating Level, 82 FR 34982 (July 27, 2017). 2 Requirements for Insurance; National Credit Union Share Insurance Fund Equity Distributions, 82 FR 35705 (Aug. 1, 2017). PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 earnings and significantly impaired credit unions’ one percent contributed capital deposit.3 The deposit impairment, along with premiums 4 that would have been necessary to restore the Insurance Fund’s equity ratio, would have resulted in a significant, immediate cost to credit unions at a time when their earnings and capital were already under stress due to the Great Recession.5 In June 2009, the Board formally approved use of the Stabilization Fund for the costs of the Corporate System Resolution Program.6 Since then, all of these costs have been accounted for in the financial statements of the Stabilization Fund. The Act specifies that the Stabilization Fund will terminate 90 days after the seven-year anniversary of its first borrowing from the U.S. Treasury.7 The first borrowing occurred on June 25, 2009, making the original closing date September 27, 2016. However, the Act provided the Board, with the concurrence of the Secretary of the U.S. Treasury, authority to extend the closing date of the Stabilization Fund. In June 2010, the Board voted to extend the life of the Stabilization Fund and, on September 24, 2010, the NCUA received concurrence from the Secretary of the U.S. Treasury to extend the closing date to June 30, 2021. Unlike in 2009, the Insurance Fund’s $13.2 billion now exceeds both the corporate credit union Legacy Asset balance and NGN balance (as of June 30, 2017). Due primarily to the nearly $4 billion in net legal recoveries, the Stabilization Fund has a positive net position of approximately $2.0 billion as of June 2017. Additionally, there are no outstanding U.S. Treasury borrowings. Closing the Stabilization Fund in 2017 will, barring the unexpected, result in an equity distribution to insured credit unions in 2018, putting funds to work in the credit union system prior to its current scheduled closure in 2021. 3 Prior to reassignment of these costs to the Stabilization Fund, the equity ratio of the Insurance Fund would have been only about 0.11 percent at year-end 2009—resulting in a deposit impairment of 89 percent. 4 Throughout this document, the terms ‘‘premium’’ and ‘‘assessment’’ are used interchangeably. 5 Because the contributed capital deposit is reflected as an asset on the financial statements of insured credit unions, under applicable accounting rules any impairment results in an immediate expense to credit unions. 6 For more details on the Corporate System Resolution Program, please see the NCUA Corporate System Resolution Costs Web page (https:// www.ncua.gov/regulation-supervision/Pages/ corporate-system-resolution.aspx). 7 12 U.S.C. 1790e(h). E:\FR\FM\04OCN1.SGM 04OCN1

Agencies

National Credit Union Administration

[Federal Register Volume 82, Number 191 (Wednesday, October 4, 2017)]
[Notices]
[Pages 46297-46298]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-21304]


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NATIONAL CREDIT UNION ADMINISTRATION


Request for Comment Regarding National Credit Union 
Administration Draft 2018-2022 Strategic Plan

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

-----------------------------------------------------------------------

SUMMARY: The NCUA Board (Board) is requesting comment on its 2018-2022 
Draft Strategic Plan. The NCUA 2018-2022 Draft Strategic Plan 
summarizes our analysis of the internal and external environment 
impacting NCUA; evaluates NCUA programs and risks; and provides goals 
and objectives for the next five years. While the Board welcomes all 
comments from the public and stakeholders, it specifically invites 
comments and input on the proposed goals and objectives of the 
strategic plan.

DATES: Comments must be received on or before December 4, 2017 to be 
assured of consideration.

ADDRESSES: You may submit comments by any of the following methods 
(Please send comments by one method only):
     NCUA Web site: https://www.ncua.gov/about/pages/board-comments.aspx. Follow the instructions for submitting comments.
     Email: Address to boardcomments@ncua.gov. Include ``[Your 
name]--Comments on NCUA 2018-2022 Draft Strategic Plan'' in the email 
subject line.
     Fax: (703) 518-6319. Include your name and the following 
subject line: ``Comments on NCUA 2018-2022 Draft Strategic Plan.''
     Mail: Address to Gerard Poliquin, Secretary of the Board, 
National Credit Union Administration, 1775 Duke Street, Alexandria, 
Virginia 22314-3428.
     Hand Delivery/Courier: Same as mail address.
    Public Inspection: You can view all public comments on NCUA's Web 
site at https://www.ncua.gov/about/pages/board-comments.aspx as 
submitted, except for those we cannot post for technical reasons. NCUA 
will not edit or remove any identifying or contact information from the 
public comments submitted. You may inspect paper copies of comments at 
NCUA's headquarters at 1775 Duke Street, Alexandria, Virginia 22314, by 
appointment weekdays between 9 a.m. and 3 p.m. To make an appointment, 
call (703) 518-6570 or send an email to boardcomments@ncua.gov.

FOR FURTHER INFORMATION CONTACT: Melissa Lowden, Management Analyst, 
National Credit Union Administration, 1775 Duke Street, Alexandria, 
Virginia 22314-3428 or telephone: (703) 518-1182.

    Authority:  5 U.S.C. 306.


SUPPLEMENTARY INFORMATION: The Government Performance and Results Act 
of 1993 (GPRA) requires agencies to prepare strategic plans, annual 
performance plans and annual performance reports with measurable 
performance indicators to address the policy, budgeting and oversight 
needs of both Congress and agency leaders, partners/stakeholders, and 
program managers. In 2010, Congress passed the GPRA Modernization Act 
of 2010, which further requires a leadership-driven governance model 
with emphasis on quarterly reviews and transparency. The GPRA 
Modernization Act requires agencies to set priority goals linked to 
longer-term Agency strategic goals. Part 6 of Office of Management and 
Budget (OMB) Circular A-11 provides additional guidance and 
requirements for federal agencies to implement these laws. The NCUA 
Draft Strategic Plan 2018-2022 is issued pursuant to the GPRA, the GPRA 
Modernization Act, and OMB Circular A-11.
    The NCUA 2018-2022 Draft Strategic Plan outlines how the agency 
will continue to effectively supervise and insure a growing and 
evolving credit union system. As the financial services and the credit 
union sector evolve, NCUA must adjust to meet the challenges the 
changes provide. In response, we are adopting new technology and 
analytical tools to improve the agency's offsite monitoring 
capabilities. Additionally, we are recalibrating our examination 
approach to reflect a more stable economic environment. We also are 
revising the agency's operations, priorities and structure to ensure 
our objectives match those prescribed in the Federal Credit Union Act, 
while at the same time efficiently using the agency's resources.
    In the years ahead, NCUA also plans to advance meaningful 
regulatory relief by fully reevaluating our rules and working to modify 
them as appropriate, improving the uniformity of

[[Page 46298]]

examinations, implementing an improved examination appeals process, and 
mitigating the largest risks to the Share Insurance Fund.
    By publishing the proposed NCUA 2018-2022 Strategic Plan in the 
Federal Register, as well as posting it on our Web site at 
www.ncua.gov, NCUA continues its ongoing commitment to transparency 
about the agency's future plans and actions.
    The NCUA 2018-2022 Draft Strategic Plan is available at the 
following Web address: https://www.ncua.gov/About/Pages/budget-strategic-planning/annual-plan.aspx.

    By the National Credit Union Administration Board on September 
28, 2017.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2017-21304 Filed 10-3-17; 8:45 am]
 BILLING CODE P

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