Agency Information Collection Activities: Proposed Collections, Bank Conversions and Mergers, 53022 [2022-18629]
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53022
Federal Register / Vol. 87, No. 167 / Tuesday, August 30, 2022 / Notices
NATIONAL CREDIT UNION
ADMINISTRATION
Agency Information Collection
Activities: Proposed Collections, Bank
Conversions and Mergers
National Credit Union
Administration (NCUA).
ACTION: Notice and request for comment.
AGENCY:
The National Credit Union
Administration (NCUA), as part of a
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other Federal
agencies to comment on the following
extension of a currently approved
collection, as required by the Paperwork
Reduction Act of 1995.
DATES: Written comments should be
received on or before October 31, 2022
to be assured consideration.
ADDRESSES: Interested persons are
invited to submit written comments on
the information collection to Dawn
Wolfgang, National Credit Union
Administration, 1775 Duke Street, Suite
6032, Alexandria, Virginia 22314; email
at PRAComments@NCUA.gov. Given the
limited in-house staff because of the
COVID–19 pandemic, email comments
are preferred.
FOR FURTHER INFORMATION CONTACT:
Address requests for additional
information to Dawn Wolfgang at the
address above or telephone 703–548–
2279.
SUPPLEMENTARY INFORMATION:
OMB Number: 3133–0182.
Title: Bank Conversions and Mergers,
12 CFR part 708a.
Type of Review: Extension of a
currently approved collection.
Abstract: Part 708a of NCUA’s Rules
and Regulations covers the conversion
of federally insured credit unions (credit
unions) to mutual savings banks (MSBs)
and mergers of credit unions into both
mutual and stock banks (banks). Part
708a requires credit unions that intend
to convert to MSBs or merge into banks
to provide notice and disclosure of their
intent to convert or merge to their
members and NCUA, and to conduct a
membership vote. In addition, Subpart
C requires credit unions that intend to
merge into banks to determine the
merger value of the credit union. The
information collection allows NCUA to
ensure compliance with statutory and
regulatory requirements for conversions
and mergers and ensures that members
of credit unions have sufficient and
accurate information to exercise an
informed vote concerning a proposed
conversion or merger.
Affected Public: Private Sector: Notfor-profit institutions.
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
17:24 Aug 29, 2022
Jkt 256001
Estimated No. of Respondents: 1.
Estimated No. of Responses per
Respondent: 13.
Estimated Total Annual Responses:
13.
Estimated Burden Hours per
Response: 30.
Estimated Total Annual Burden
Hours: 391.
Request for Comments: Comments
submitted in response to this notice will
be summarized and included in the
request for Office of Management and
Budget 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 Melane Conyers-Ausbrooks,
Secretary of the Board, the National
Credit Union Administration, on August
24, 2022.
Dated: August 25, 2022.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2022–18629 Filed 8–29–22; 8:45 am]
BILLING CODE 7535–01–P
NATIONAL CREDIT UNION
ADMINISTRATION
Submission for OMB Review;
Comment Request
National Credit Union
Administration (NCUA).
ACTION: Notice.
AGENCY:
The National Credit Union
Administration (NCUA) will submit the
following information collection
requests to the Office of Management
and Budget (OMB) for review and
clearance in accordance with the
Paperwork Reduction Act of 1995, on or
after the date of publication of this
notice.
SUMMARY:
Comments should be received on
or before September 29, 2022 to be
assured of consideration.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent
DATES:
PO 00000
Frm 00122
Fmt 4703
Sfmt 4703
within 30 days of publication of this
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.
FOR FURTHER INFORMATION CONTACT:
Copies of the submission may be
obtained by contacting Dawn Wolfgang
at (703) 548–2279, emailing
PRAComments@ncua.gov, or viewing
the entire information collection request
at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
OMB Number: 3133–0039.
Type of Review: Extension of a
currently approved collection.
Title: Borrowed Funds from Natural
Persons, 12 CFR 701.38.
Abstract: Section 701.38 of the NCUA
regulations grants federal credit unions
the authority to borrow funds from a
natural person as long as they maintain
a signed promissory note which
includes the terms and conditions of
maturity, repayment, interest rate,
method of computation and method of
payment; and the promissory note and
any advertisements for borrowing have
clearly visible language stating that the
note represents money borrowed by the
credit union and does not represent
shares and is not insured by the
National Credit Union Insurance Fund
(NCUSIF). NCUA will use this
information to ensure a credit union’s
natural person borrowings are in
compliance and address all regulatory
and safety and soundness requirements.
Affected Public: Private Sector: Notfor-profit institutions.
Estimated Total Annual Burden
Hours: 31.
OMB Number: 3133–0129.
Type of Review: Extension of a
currently approved collection.
Title: Corporate Credit Union, 12 CFR
704.
Abstract: Part 704 of NCUA’s
regulations established the regulatory
framework for corporate credit unions.
This includes various reporting and
recordkeeping requirements as well as
safety and soundness standards. NCUA
has established and regulates corporate
credit unions pursuant to its authority
under §§ 120, 201, and 209 of the
Federal Credit Union Act, 12 U.S.C.
1766(a), 1781, and 1789. The collection
of information is necessary to ensure
that corporate credit unions operate in
a safe and sound manner by limiting
risk to their natural person credit union
members and the National Credit Union
Share Insurance Fund.
Affected Public: Private Sector: Notfor-profit institutions.
E:\FR\FM\30AUN1.SGM
30AUN1
]]>Agencies
[Federal Register Volume 87, Number 167 (Tuesday, August 30, 2022)]
[Notices]
[Page 53022]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-18629]
[[Page 53022]]
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NATIONAL CREDIT UNION ADMINISTRATION
Agency Information Collection Activities: Proposed Collections,
Bank Conversions and Mergers
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The National Credit Union Administration (NCUA), as part of a
continuing effort to reduce paperwork and respondent burden, invites
the general public and other Federal agencies to comment on the
following extension of a currently approved collection, as required by
the Paperwork Reduction Act of 1995.
DATES: Written comments should be received on or before October 31,
2022 to be assured consideration.
ADDRESSES: Interested persons are invited to submit written comments on
the information collection to Dawn Wolfgang, National Credit Union
Administration, 1775 Duke Street, Suite 6032, Alexandria, Virginia
22314; email at [email protected]. Given the limited in-house staff
because of the COVID-19 pandemic, email comments are preferred.
FOR FURTHER INFORMATION CONTACT: Address requests for additional
information to Dawn Wolfgang at the address above or telephone 703-548-
2279.
SUPPLEMENTARY INFORMATION:
OMB Number: 3133-0182.
Title: Bank Conversions and Mergers, 12 CFR part 708a.
Type of Review: Extension of a currently approved collection.
Abstract: Part 708a of NCUA's Rules and Regulations covers the
conversion of federally insured credit unions (credit unions) to mutual
savings banks (MSBs) and mergers of credit unions into both mutual and
stock banks (banks). Part 708a requires credit unions that intend to
convert to MSBs or merge into banks to provide notice and disclosure of
their intent to convert or merge to their members and NCUA, and to
conduct a membership vote. In addition, Subpart C requires credit
unions that intend to merge into banks to determine the merger value of
the credit union. The information collection allows NCUA to ensure
compliance with statutory and regulatory requirements for conversions
and mergers and ensures that members of credit unions have sufficient
and accurate information to exercise an informed vote concerning a
proposed conversion or merger.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated No. of Respondents: 1.
Estimated No. of Responses per Respondent: 13.
Estimated Total Annual Responses: 13.
Estimated Burden Hours per Response: 30.
Estimated Total Annual Burden Hours: 391.
Request for Comments: Comments submitted in response to this notice
will be summarized and included in the request for Office of Management
and Budget 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 Melane Conyers-Ausbrooks, Secretary of the Board, the National
Credit Union Administration, on August 24, 2022.
Dated: August 25, 2022.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2022-18629 Filed 8-29-22; 8:45 am]
BILLING CODE 7535-01-P
