Sunshine Act Meetings; Annual Board of Directors Meeting, 35444-35445 [2020-12611]

Download as PDF jbell on DSKJLSW7X2PROD with NOTICES 35444 Federal Register / Vol. 85, No. 112 / Wednesday, June 10, 2020 / Notices requirements for a loan participation program. Federally insured credit unions (FICU) are required to execute a written loan participation agreement with the lead lender. Additionally, the rule requires all FICUs to maintain a loan participation policy that establishes underwriting standards and maximum concentration limits. Credit unions may apply for waivers on certain key provisions of the rule. NCUA reviews the loan participation policies and through these reviews determine whether the credit union is engaging in a safe and sound loan participation program. Type of Review: Extension of a currently approved collection. Affected Public: Private sector: notfor-profit institutions. Estimated No. of Respondents: 1,898. Estimated No. of Responses per Respondent: 2. Estimated Total of Annual Responses: 3,806. Estimated Burden Hours per Response: 0.79. Estimated Total Annual Burden Hours: 3,025. Reason for Change: Section 701.22 was amended to temporarily raising the maximum aggregate amount of loan participation that a FICU may purchase from a single originating lender to the greater of $5,000,000 or 200 percent of the FICU’s net worth. These temporary modifications will be in place until December 31, 2020, unless extended. It is anticipated that there will be no increase in the number of credit unions currently participating. It is estimated that these credit unions may see a slight increase in the number of loan participation agreements. The recordkeeping requirement to retain and maintain a copy of the agreement is minimal, and would not impact the recordkeeping burden. Because of the net worth increase, NCUA estimates that the waiver request on the limits will be reduced by 50 percent, for an estimated reduction of 20 burden hours. OMB Number: 3133–0127. Title: Purchase, Sale and Pledge of Eligible Obligations, 12 CFR 701.23. Abstract: The Federal Credit Union Act limits the amount of eligible obligations a federal credit union (FCU) is permitted to purchase, sell, pledge, discount, receive or dispose of under Section 107(13), 12 U.S.C. 107. NCUA’s rules and regulations further govern this limitation by prescribing additional requirements under § 701.23. The various information collections are in place to ensure a FCU’s activities related to the purchase, sale, and pledge of eligible obligations comply with VerDate Sep<11>2014 17:06 Jun 09, 2020 Jkt 250001 applicable laws and are conducted in a safe and sound manner. Type of Review: Extension of a currently approved collection. Affected Public: Private sector: notfor-profit institutions. Estimated No. of Respondents: 1,097. Estimated No. of Responses per Respondent: 44. Estimated Total of Annual Responses: 48,403. Estimated Burden Hours per Response: 3.79 Estimated Total Annual Burden Hours: 12,748. Reason for Change: Section 701.23 was amended to temporarily suspend limitations on the eligible obligations that a FCU may purchase and hold. These temporary modifications will be in place until December 31, 2020, unless extended. NCUA estimates a minimal increase in the number of respondents from the suspension of the limitations and in the number of agreements. The recordkeeping requirement to retain and maintain these records would increase based on this estimate. Due to the expanded authority, waivers would not be necessary and appeals to the waivers are null during this period. An estimated increase of 2,208 burden hours is due to this change. OMB Number: 3133–0040. Title: Federal Credit Union Occupancy, Planning, and Disposal of Acquired and Abandoned Premises, 12 CFR 701.36. Abstract: The Federal Credit Union Act authorizes an FCU to purchase, hold, and dispose of property necessary or incidental to its operations under Section 107(4). NCUA Rules and Regulations implements this statute by including three parts to the information collection associated with the rule: Waiver of requirement for partial occupation, waiver of requirement to dispose of abandoned property and waiver of prohibited transactions. NCUA responds to the waivers by either granting or denying the request, or otherwise compromising to meet the needs of the credit union without raising safety and soundness concerns. Type of Review: Extension of a currently approved collection. Affected Public: Private sector: notfor-profit institutions. Estimated No. of Respondents: 3. Estimated No. of Responses per Respondent: 1. Estimated Total of Annual Responses: 3. Estimated Burden Hours per Response: 10. Estimated Total Annual Burden Hours: 30. PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 Reason for Change: Section 701.36 was amended by temporarily tolling the required timeframes for the occupancy or disposition of properties not being used for FCU business or that have been abandoned. These temporary modifications will be in place until December 31, 2020, unless extended. The temporary rule will suspend the time limit assigned to partial occupancy, disposal of abandoned property, and advertisement of the sale of abandoned property, that falls on the date of the publication of the rule through December 31, 2020; not to begin until January 1, 2021. The suspension of time requirements will eliminate the need for a waiver during this period for a reduction of 325 burden hours. Request for Comments: Comments submitted in response to this notice will be summarized and included in the request for OMB approval. All comments will become a matter of public record. The public is invited to submit comments concerning: (a) Whether the collection of information is necessary for the proper execution of the function of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information, including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of the information on the respondents, including the use of automated collection techniques or other forms of information technology. By Gerard Poliquin, Secretary of the Board, the National Credit Union Administration, on June 5, 2020. Dated: June 5, 2020. Mackie I. Malaka, NCUA PRA Clearance Officer. [FR Doc. 2020–12569 Filed 6–9–20; 8:45 am] BILLING CODE 7535–01–P NEIGHBORHOOD REINVESTMENT CORPORATION Sunshine Act Meetings; Annual Board of Directors Meeting 2:00 p.m., Thursday, June 18, 2020. PLACE: Via Conference Call. STATUS: Open (with the exception of Executive Session). MATTERS TO BE CONSIDERED: The General Counsel of the Corporation has certified that in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552 TIME AND DATE: E:\FR\FM\10JNN1.SGM 10JNN1 Federal Register / Vol. 85, No. 112 / Wednesday, June 10, 2020 / Notices (b)(2) and (4) permit closure of the following portion(s) of this meeting: • Executive Session Agenda I. CALL TO ORDER II. Executive Session: Executive Compensation Review III. Executive Session: Report from CEO IV. Executive Session: Report of CFO V. Action Item Approval of Minutes VI. Action Item Board Elections VII. Action Item Grants to Capital Corps VIII. Action Item Revising the Fundraising Policy to Reflect the December 2019 Board Resolution IX. Discussion Item Capital Corporations Master Investment Agreement Renewal X. Discussion Item Annual Ethics Review XI. Discussion Item Annual Review of Governance Operations Guide XII. Management Program Background and Updates XIII. Adjournment CONTACT PERSON FOR MORE INFORMATION: Lakeyia Thompson, Special Assistant, (202) 524–9940; Lthompson@nw.org. Lakeyia Thompson, Special Assistant. [FR Doc. 2020–12611 Filed 6–8–20; 11:15 am] BILLING CODE 7570–02–P PENSION BENEFIT GUARANTY CORPORATION Submission of Information Collections for OMB Review; Comment Request; Liability for Termination of SingleEmployer Plans Pension Benefit Guaranty Corporation. ACTION: Notice of request for extension of OMB approval of collection of information. AGENCY: The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval, under the Paperwork Reduction Act, of a collection of information contained in its regulation on Liability for Termination of Single-Employer Plans (OMB control number 1212–0017; expires August 31, 2020). This notice informs the public of PBGC’s request and solicits public comment on the collection of information. DATES: Comments must be submitted by July 10, 2020. ADDRESSES: Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this jbell on DSKJLSW7X2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:06 Jun 09, 2020 Jkt 250001 notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. A copy of the request will be posted on PBGC’s website at https:// www.pbgc.gov/prac/laws-andregulation/federal-register-notices-openfor-comment. It may also be obtained by writing to Disclosure Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005–4026, or calling 202–326–4040 during normal business hours. TTY users may call the Federal Relay Service toll-free at 800– 877–8339 and ask to be connected to 202–326–4040. FOR FURTHER INFORMATION CONTACT: Melissa Rifkin (rifkin.melissa@ pbgc.gov), Attorney, Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington DC 20005–4026; 202–229–6563. (TTY users may call the Federal Relay Service tollfree at 800–877–8339 and ask to be connected to 202–229–6563.) SUPPLEMENTARY INFORMATION: Section 4062 of the Employee Retirement Income Security Act of 1974, as amended, provides that the contributing sponsor of a single-employer pension plan and members of the sponsor’s controlled group (‘‘the employer’’) incur liability (‘‘employer liability’’) if the plan terminates with assets insufficient to pay benefit liabilities under the plan. PBGC’s statutory lien for employer liability and the payment terms for employer liability are affected by whether and to what extent employer liability exceeds 30 percent of the employer’s net worth. Section 4062.6 of PBGC’s employer liability regulation (29 CFR part 4062) requires a contributing sponsor or member of the contributing sponsor’s controlled group that believes employer liability upon plan termination exceeds 30 percent of the employer’s net worth to so notify PBGC and submit net worth information to PBGC. This information is necessary to enable PBGC to determine whether and to what extent employer liability exceeds 30 percent of the employer’s net worth. The collection of information under the regulation has been approved by OMB under control number 1212–0017 (expires August 31, 2020). On March 10, 2020, PBGC published in the Federal Register (at 85 FR 13953) a notice informing the public of its intent to request an extension of this collection of information without modification. PO 00000 Frm 00034 Fmt 4703 Sfmt 4703 35445 PBGC received a comment from one member of the public. The commenter suggested that PBGC require additional net worth information. After consideration of this comment, PBGC determined that the regulation already requires the submission of the information that the commenter suggested and that no change is needed. The comment and PBGC’s rationale for its decision are discussed in the supporting statement submitted to OMB for this information collection. PBGC is requesting that OMB extend its approval for another three years. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. PBGC estimates that an average of 29 contributing sponsors or controlled group members per year will respond to this collection of information. PBGC further estimates that the average annual burden of this collection of information will be 12 hours and $5,400 per respondent, with an average total annual burden of 348 hours and $156,600. Issued in Washington, DC, by: Hilary Duke, Assistant General Counsel for Regulatory Affairs, Pension Benefit Guaranty Corporation. [FR Doc. 2020–12510 Filed 6–9–20; 8:45 am] BILLING CODE 7709–02–P POSTAL REGULATORY COMMISSION [Docket Nos. MC2020–152 and CP2020–163; MC2020–153 and CP2020–164; MC2020–154 and CP2020–165] New Postal Products Postal Regulatory Commission. Notice. AGENCY: ACTION: The Commission is noticing a recent Postal Service filing for the Commission’s consideration concerning negotiated service agreements. This notice informs the public of the filing, invites public comment, and takes other administrative steps. DATES: Comments are due: June 12, 2020. SUMMARY: Submit comments electronically via the Commission’s Filing Online system at https:// www.prc.gov. Those who cannot submit comments electronically should contact the person identified in the FOR FURTHER INFORMATION CONTACT section by telephone for advice on filing alternatives. ADDRESSES: E:\FR\FM\10JNN1.SGM 10JNN1

Agencies

Neighborhood Reinvestment Corporation

[Federal Register Volume 85, Number 112 (Wednesday, June 10, 2020)]
[Notices]
[Pages 35444-35445]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-12611]


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NEIGHBORHOOD REINVESTMENT CORPORATION


Sunshine Act Meetings; Annual Board of Directors Meeting

TIME AND DATE: 2:00 p.m., Thursday, June 18, 2020.

PLACE: Via Conference Call.

STATUS: Open (with the exception of Executive Session).

 MATTERS TO BE CONSIDERED: The General Counsel of the Corporation has 
certified that in his opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552

[[Page 35445]]

(b)(2) and (4) permit closure of the following portion(s) of this 
meeting:

 Executive Session

Agenda

I. CALL TO ORDER
II. Executive Session: Executive Compensation Review
III. Executive Session: Report from CEO
IV. Executive Session: Report of CFO
V. Action Item Approval of Minutes
VI. Action Item Board Elections
VII. Action Item Grants to Capital Corps
VIII. Action Item Revising the Fundraising Policy to Reflect the 
December 2019 Board Resolution
IX. Discussion Item Capital Corporations Master Investment Agreement 
Renewal
X. Discussion Item Annual Ethics Review
XI. Discussion Item Annual Review of Governance Operations Guide
XII. Management Program Background and Updates
XIII. Adjournment

CONTACT PERSON FOR MORE INFORMATION: Lakeyia Thompson, Special 
Assistant, (202) 524-9940; [email protected].

Lakeyia Thompson,
Special Assistant.
[FR Doc. 2020-12611 Filed 6-8-20; 11:15 am]
 BILLING CODE 7570-02-P

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