80 FR 76583 - Agency Information Collection Activities: Submission for Office of Management and Budget Review; Comment Request; for Reinstatement With Change of a Previously Approved Collection; Organization and Operation of Federal Credit Unions-Loan Participation

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 80, Issue 236 (December 9, 2015)

Page Range		76583-76583
FR Document		2015-30934

National Credit Union Administration is announcing that a proposed collection of information has been submitted to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (PRA). This is related to NCUA's regulation 701.22 that outlines requirements for loan participation programs. The rule requires various information collections, which NCUA uses to ensure credit unions have implemented a safe and sound loan participation program.

Federal Register, Volume 80 Issue 236 (Wednesday, December 9, 2015)

[Federal Register Volume 80, Number 236 (Wednesday, December 9, 2015)]
[Notices]
[Page 76583]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-30934]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission for Office 
of Management and Budget Review; Comment Request; for Reinstatement 
With Change of a Previously Approved Collection; Organization and 
Operation of Federal Credit Unions--Loan Participation

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for comment.

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SUMMARY: National Credit Union Administration is announcing that a 
proposed collection of information has been submitted to the Office of 
Management and Budget (OMB) for review and clearance under the 
Paperwork Reduction Act of 1995 (PRA). This is related to NCUA's 
regulation 701.22 that outlines requirements for loan participation 
programs. The rule requires various information collections, which NCUA 
uses to ensure credit unions have implemented a safe and sound loan 
participation program.

DATES: Comments will be accepted until January 8, 2016.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to:

NCUA Contact: Tracy Crews, National Credit Union Administration, 1775 
Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-2861, 
Email: [email protected]
OMB Reviewer: 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 
should be directed to:

NCUA Contact: Tracy Crews, National Credit Union Administration, 1775 
Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-2861, 
Email: [email protected]

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is requesting comments on 3133-0141; Organization and 
Operation of Federal Credit Unions--Loan Participation, 12 CFR part 
701.22. NCUA's regulation, 12 CFR (Sec.  701.22), outlines loan 
participation requirements. Loan participations pose inherent risk to 
the NCUSIF due to the interconnectedness between participants. Section 
741.225 extends the requirements of Section 701.22 of NCUA's 
regulations to Federally Insured State Chartered Credit Unions 
(FISCUs), noting there are strong indications of potential risk to the 
NCUSIF from FISCUs' loan participation activity. Section 701.22 
includes three collection requirements (1) maintenance of a written 
policy, (2) requirements on the purchasing credit union to have a 
written loan participation agreement, (3) options to apply for waivers 
from concentration limits.
    In the Federal Register of August 28, 2015, (80 FR 52344), NCUA 
published a 60-day notice requesting public comment on the proposed 
collection of information. NCUA received no comments.
    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.
    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: Organization and Operation of Federal Credit Unions--Loan 
Participation, 12 CFR part 701.22.
    OMB Number: 3133-0141.
    Form Number: None.
    Type of Review: Reinstatement with change.
    Description: Section 701.22 of NCUA's regulations, 12 CFR 701.22, 
outlines the requirements for the administration of a loan 
participation program. Section 741 of NCUA's regulations, 12 CFR 
741.225, extends 12 CFR 701.22 to Federally Insured State Chartered 
Credit Unions. Section 701.22 includes various collections which NCUA 
uses to ensure credit unions have implemented a safe and sound program.
    Respondents: Federally Insured Credit Unions.
    Estimated No. of Respondents/Recordkeepers: 1,515 for loan 
participation policy revision and loan agreement retention, 10 for 
waiver submission and 1 for appeal request.
    Estimated Burden Hours per Response: 3 hours per policy revision, 4 
hours per waiver submission and 4 hours per appeal.
    Frequency of Response: One time and optionally with each waiver 
submission.
    Estimated Total Annual Burden Hours: 4,589 hours total.
    Estimated Total Annual Cost: $146,343.21.

    By the National Credit Union Administration Board on November 
18, 2015.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2015-30934 Filed 12-8-15; 8:45 am]
BILLING CODE 7535-01-P

Federal Register / Vol. 80, No. 236 / Wednesday, December 9, 2015 / Notices 76583

IV. Request for Comments Duke Street, Alexandria, Virginia be collected; and (d) ways we could
Comments are invited on: (a) Whether 22314–3428, Fax No. 703–837–2861, minimize the burden of the collection of
the proposed collection of information Email: OCIOPRA@ncua.gov the information on the respondents such
is necessary for the proper performance OMB Reviewer: Office of Management as through the use of automated
of the functions of the agency, including and Budget, ATTN: Desk Officer for collection techniques or other forms of
whether the information shall have the National Credit Union information technology. It is NCUA’s
practical utility; (b) the accuracy of the Administration, Office of Information policy to make all comments available
agency’s estimate of the burden and Regulatory Affairs, Washington, to the public for review.
(including hours and cost) of the DC 20503
II. Data
proposed collection of information; (c) FOR FURTHER INFORMATION CONTACT:
ways to enhance the quality, utility, and Requests for additional information Title: Organization and Operation of
clarity of the information to be should be directed to: Federal Credit Unions—Loan
collected; and (d) ways to minimize the NCUA Contact: Tracy Crews, National Participation, 12 CFR part 701.22.
burden of the collection of information OMB Number: 3133–0141.
Credit Union Administration, 1775
on respondents, including through the Form Number: None.
Duke Street, Alexandria, Virginia
use of automated collection techniques Type of Review: Reinstatement with
22314–3428, Fax No. 703–837–2861,
or other forms of information change.
Email: OCIOPRA@ncua.gov Description: Section 701.22 of
technology. SUPPLEMENTARY INFORMATION:
In general, comments submitted in NCUA’s regulations, 12 CFR 701.22,
response to this notice will be I. Abstract and Request for Comments outlines the requirements for the
summarized and/or included in the administration of a loan participation
NCUA is requesting comments on program. Section 741 of NCUA’s
request for OMB approval of this 3133–0141; Organization and Operation
information collection; they also will regulations, 12 CFR 741.225, extends 12
of Federal Credit Unions—Loan CFR 701.22 to Federally Insured State
become a matter of public record. Participation, 12 CFR part 701.22. Chartered Credit Unions. Section 701.22
Mark Reger, NCUA’s regulation, 12 CFR (§ 701.22), includes various collections which
Deputy Controller. outlines loan participation NCUA uses to ensure credit unions have
[FR Doc. 2015–30986 Filed 12–8–15; 8:45 am]
requirements. Loan participations pose implemented a safe and sound program.
inherent risk to the NCUSIF due to the Respondents: Federally Insured Credit
BILLING CODE P
interconnectedness between Unions.
participants. Section 741.225 extends Estimated No. of Respondents/
the requirements of Section 701.22 of Recordkeepers: 1,515 for loan
NATIONAL CREDIT UNION
NCUA’s regulations to Federally Insured participation policy revision and loan
ADMINISTRATION
State Chartered Credit Unions (FISCUs), agreement retention, 10 for waiver
Agency Information Collection noting there are strong indications of submission and 1 for appeal request.
Activities: Submission for Office of potential risk to the NCUSIF from Estimated Burden Hours per
Management and Budget Review; FISCUs’ loan participation activity. Response: 3 hours per policy revision, 4
Comment Request; for Reinstatement Section 701.22 includes three collection hours per waiver submission and 4
With Change of a Previously Approved requirements (1) maintenance of a hours per appeal.
Collection; Organization and Operation written policy, (2) requirements on the Frequency of Response: One time and
of Federal Credit Unions—Loan purchasing credit union to have a optionally with each waiver submission.
Participation written loan participation agreement, (3) Estimated Total Annual Burden
options to apply for waivers from Hours: 4,589 hours total.
AGENCY: National Credit Union concentration limits. Estimated Total Annual Cost:
Administration (NCUA). In the Federal Register of August 28, $146,343.21.
ACTION: Request for comment. 2015, (80 FR 52344), NCUA published
By the National Credit Union
a 60-day notice requesting public
SUMMARY: National Credit Union Administration Board on November 18, 2015.
comment on the proposed collection of
Administration is announcing that a information. NCUA received no Gerard Poliquin,
proposed collection of information has comments. Secretary of the Board.
been submitted to the Office of An agency may not conduct or [FR Doc. 2015–30934 Filed 12–8–15; 8:45 am]
Management and Budget (OMB) for sponsor, and a person is not required to BILLING CODE 7535–01–P
review and clearance under the respond to, a collection of information
Paperwork Reduction Act of 1995 unless it displays a currently valid OMB
(PRA). This is related to NCUA’s control number. NATIONAL CREDIT UNION
regulation 701.22 that outlines NCUA requests that you send your ADMINISTRATION
requirements for loan participation comments on this collection to the
programs. The rule requires various location listed in the addresses section. Agency Information Collection
information collections, which NCUA Your comments should address: (a) The Activities: Submission to OMB for
uses to ensure credit unions have necessity of the information collection Reinstatement With Change, Bank
implemented a safe and sound loan for the proper performance of NCUA, Conversions and Mergers, 12 CFR Part
participation program. 708a; Comment Request
mstockstill on DSK4VPTVN1PROD with NOTICES

including whether the information will
DATES: Comments will be accepted until have practical utility; (b) the accuracy of AGENCY: National Credit Union
January 8, 2016. our estimate of the burden (hours and Administration (NCUA).
ADDRESSES: Interested persons are cost) of the collection of information, ACTION: Request for comments.
invited to submit written comments on including the validity of the
the information collection to: methodology and assumptions used; (c) SUMMARY: NCUA intends to submit the
NCUA Contact: Tracy Crews, National ways we could enhance the quality, following information collection to the
Credit Union Administration, 1775 utility, and clarity of the information to Office of Management and Budget

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Document Created: 2015-12-14 13:32:52
Document Modified: 2015-12-14 13:32:52

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Request for comment.
Dates		Comments will be accepted until January 8, 2016.
Contact		Requests for additional information should be directed to:
FR Citation		80 FR 76583