Involuntary Liquidation of Federal Credit Unions and Claims Procedures
The NCUA Board (Board) proposes to amend part 709 of its rules to update and clarify the procedures that apply to claims administration for federally insured credit unions that enter involuntary liquidation. Specifically, the proposal would amend the current rule's payout priority provision by specifying the conditions that claims in the nature of severance must meet to be allowed as provable claims.
Modernizing Data Collection for Supervision of Credit Unions
At the May 19, 2016, meeting of the NCUA Board, the agency discussed plans for modernizing NCUA's collection of data from federally insured credit unions. Key goals of the modernization effort include reducing the reporting burden on credit unions, improving offsite supervision capability, and updating the organization of the forms and related instructions. In June 2016, the NCUA issued a Request for Information in the Federal Register seeking public input on the regulatory data collected through the Call Report and Profile, resulting in 684 individual comments. In September 2016, the Call Report Modernization Working Group solicited feedback from agency staff and state supervisory authorities, resulting in 492 comments. The working group also hosted phone calls with state supervisory authorities and credit unions representing each of the five asset peer groups during October 2016. These calls gave stakeholders an additional opportunity to have a dialogue on recommendations for the Call Report and Profile. The working group reviewed all stakeholder comments and posted summaries of the comments on the NCUA's Call Report Modernization web page. The working group also conducted additional technical research, such as on generally accepted accounting principles relevant to the Call Report. The working group's comprehensive analysis resulted in this proposal to reorganize the schedules in the Call Report and Profile, retire obsolete account codes, and relocate some account codes to other collections. The proposed streamlining for the Call Report results in a net reduction of roughly 40 percent of account codes. The proposed changes to the Profile result in approximately a 20 percent net reduction. The proposed updates to the 5300 Call Report and 4501A Profile forms, instructions, and related background material are available for review and comment, online at https://www.ncua.gov/About/Pages/open- government/call-report-modernization.aspx. Target participants include credit unions, credit union leagues, trade associations, regulators, and industry-related persons.
Submission for OMB Review; Comment Request
The National Credit Union Administration (NCUA) will be submitting the following information collection request 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.
Agency Information Collection Activities: Proposed Collections; Comment Request; Capital Planning and Stress Testing
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 currently approved collection, as required by the Paperwork Reduction Act of 1995.
Civil Monetary Penalty Inflation Adjustment
The NCUA Board (Board) is amending its regulations to adjust the maximum amount of each civil monetary penalty (CMP) within its jurisdiction to account for inflation. This action, including the amount of the adjustments, is required under the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996 and the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.