81_FR_38851 81 FR 38737 - Agency Information Collection Activities: Proposed Collection; Comment Request; Supervisory Committee Audits and Verifications

81 FR 38737 - Agency Information Collection Activities: Proposed Collection; Comment Request; Supervisory Committee Audits and Verifications

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 81, Issue 114 (June 14, 2016)

Page Range38737-38738
FR Document2016-13949

NCUA, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on a reinstatement of a previously approved collection, as required by the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. Chapter 35).

Federal Register, Volume 81 Issue 114 (Tuesday, June 14, 2016) 
[Federal Register Volume 81, Number 114 (Tuesday, June 14, 2016)]
[Notices]
[Pages 38737-38738]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-13949]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request; Supervisory Committee Audits and Verifications

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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SUMMARY: NCUA, as part of its continuing effort to reduce paperwork and 
respondent burden, invites the general public and other Federal 
agencies to comment on a reinstatement of a previously approved 
collection, as required by the Paperwork Reduction Act of 1995 (Pub. L. 
104-13, 44 U.S.C. Chapter 35).

DATES: Written comments should be received on or before August 15, 2016 
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, Alexandria, Virginia 22314-3428; Fax 
No. 703-519-8579; or Email at [email protected].

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to the address above.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0059.
    Title: Supervisory Committee Audits and Verifications, 12 CFR part 
715.
    Abstract: Title 12 CFR part 715 prescribes the responsibilities of 
the supervisory committee to obtain an audit of the credit union and 
verification of member accounts as outlined in Section 115 of the 
Federal Credit Union Act (Act), 12 U.S.C. 1761d. A supervisory 
committee audit is required at least once every calendar year covering 
the period since the last audit and to conduct a verification of 
members' accounts not less frequently than once every two years. The 
Act specifies the minimum annual audit a credit union is required to 
obtain according to its charter type and asset size, the licensing 
authority required of persons performing certain audits, the auditing 
principles which apply to certain audits, and the accounting principles 
which must be followed in reports filed with the NCUA Board.
    The information is used by both the credit union and the NCUA to 
ensure through audit testing that the credit union's assets, 
liabilities, equity, income, and expenses exist, are properly valued, 
controlled and meet ownership, disclosure and classification 
requirements of sound financial reporting.
    A written report on the audit must be made to the board of 
directors and, if requested, NCUA. Working papers must be maintained 
and made available to NCUA. Independence requirements must be met; 
standards governing verifications and the methods used to verify 
member's passbooks and accounts are set forth. Section 741.202 makes 
these requirements applicable to federally insured state-chartered 
credit unions.
    Type of Review: Extension of a previously approved collection.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated No. of Respondents: 6,025.
    Estimated No. of Responses per Respondent: 3.42.
    Estimated Annual Responses: 20,600.
    Estimated Burden Hours per Response: 1.88.
    Estimated Total Annual Burden Hours: 38,693.
    Adjustments in the number of credit unions reflect a decrease from 
the previous submission and recordkeeping requirements associated with 
the membership verification, previously omitted, are now included in 
this request.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and included in the

[[Page 38738]]

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 performance 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 8, 2016.

    Dated: June 8, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-13949 Filed 6-13-16; 8:45 am]
 BILLING CODE 7535-01-P

Federal Register / Vol. 81, No. 114 / Tuesday, June 14, 2016 / Notices 38737 meet up to four times a year in regarding membership to the Vice SUPPLEMENTARY INFORMATION: Washington, DC or via video/ President for Compact Operations based OMB Number: 3133–0059. teleconferencing. on criteria including: Title: Supervisory Committee Audits (1) Professional or academic expertise, and Verifications, 12 CFR part 715. FOR FURTHER INFORMATION CONTACT: All experience, and knowledge; (2) Abstract: Title 12 CFR part 715 nomination materials or requests for stakeholder representation; (3) prescribes the responsibilities of the additional information should be availability and willingness to serve; supervisory committee to obtain an emailed to MCC’s Advisory Council and (4) skills working collaboratively on audit of the credit union and Management Officer, Beth Roberts at committees and advisory panels. Based verification of member accounts as MCCAdvisoryCouncil@mcc.gov or upon the selection team’s outlined in Section 115 of the Federal mailed to Millennium Challenge recommendations, the Vice President Credit Union Act (Act), 12 U.S.C. 1761d. Corporation, Attn: Beth Roberts, 1099 for Compact Operations will select A supervisory committee audit is 14th St. NW., Suite 700, Washington, representatives. In the selection of required at least once every calendar DC 20005. members for the Advisory Council, MCC year covering the period since the last SUPPLEMENTARY INFORMATION: The audit and to conduct a verification of will seek to ensure a balanced Advisory Council shall consist of not members’ accounts not less frequently representation and consider a cross- more than twenty-five (25) individuals than once every two years. The Act section of those directly affected, who are recognized thought leaders, specifies the minimum annual audit a interested, and qualified, as appropriate business leaders and experts credit union is required to obtain to the nature and functions of the representing U.S. companies, the according to its charter type and asset Advisory Council. business community, advocacy Nominations are open to all size, the licensing authority required of organizations, non-governmental individuals without regard to race, persons performing certain audits, the organizations, non-profit organizations, color, religion, sex, national origin, age, auditing principles which apply to foundations, and industry sectors mental or physical disability, marital certain audits, and the accounting including infrastructure, information status, or sexual orientation. principles which must be followed in and communications technology, reports filed with the NCUA Board. industry/manufacturing and finance, as Dated: June 8, 2016. The information is used by both the well as sustainable development/ Sarah E. Fandell, credit union and the NCUA to ensure environment. Qualified individuals may VP/General Counsel and Corporate Secretary, through audit testing that the credit self-nominate or be nominated by any Millennium Challenge Corporation. union’s assets, liabilities, equity, individual or organization. To be [FR Doc. 2016–14075 Filed 6–13–16; 8:45 am] income, and expenses exist, are considered for the Advisory Council, BILLING CODE 9211–03–P properly valued, controlled and meet nominators should submit the following ownership, disclosure and classification information: requirements of sound financial • Name, title, organization and NATIONAL CREDIT UNION reporting. relevant contact information (including ADMINISTRATION A written report on the audit must be phone and email address) of the made to the board of directors and, if individual under consideration; Agency Information Collection requested, NCUA. Working papers must • A letter, on organization letterhead, Activities: Proposed Collection; be maintained and made available to containing a brief description why the Comment Request; Supervisory NCUA. Independence requirements nominee should be considered for Committee Audits and Verifications must be met; standards governing membership; verifications and the methods used to • Short biography of nominee AGENCY: National Credit Union Administration (NCUA). verify member’s passbooks and accounts including professional and academic are set forth. Section 741.202 makes credentials; Please do not send ACTION: Notice and request for comment. these requirements applicable to company, trade association, or federally insured state-chartered credit SUMMARY: NCUA, as part of its organization brochures or any other unions. continuing effort to reduce paperwork information. Materials submitted should Type of Review: Extension of a and respondent burden, invites the total two pages or less. Should more previously approved collection. general public and other Federal information be needed, MCC staff will Affected Public: Private Sector: Not- agencies to comment on a reinstatement contact the nominee, obtain information for-profit institutions. of a previously approved collection, as from the nominee’s past affiliations, or Estimated No. of Respondents: 6,025. required by the Paperwork Reduction obtain information from publicly Estimated No. of Responses per Act of 1995 (Pub. L. 104–13, 44 U.S.C. available sources. Respondent: 3.42. Chapter 35). All members of the Advisory Council Estimated Annual Responses: 20,600. will be independent of the agency, DATES: Written comments should be Estimated Burden Hours per representing the views and interests of received on or before August 15, 2016 Response: 1.88. their respective industry or area of to be assured consideration. Estimated Total Annual Burden expertise, and not as Special ADDRESSES: Interested persons are Hours: 38,693. Government employees. All members invited to submit written comments on Adjustments in the number of credit shall serve without compensation. the information collection to Dawn unions reflect a decrease from the Nominees selected for appointment to Wolfgang, National Credit Union previous submission and recordkeeping srobinson on DSK5SPTVN1PROD with NOTICES the Advisory Council will be notified by Administration, 1775 Duke Street, requirements associated with the return email and receive a letter of Alexandria, Virginia 22314–3428; Fax membership verification, previously appointment. A selection team No. 703–519–8579; or Email at omitted, are now included in this comprised of representatives from PRAComments@NCUA.gov. request. several MCC departments will review FOR FURTHER INFORMATION CONTACT: Request for Comments: Comments the nomination packages. The selection Requests for additional information submitted in response to this notice will team will make recommendations should be directed to the address above. be summarized and included in the VerDate Sep<11>2014 19:36 Jun 13, 2016 Jkt 238001 PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 E:\FR\FM\14JNN1.SGM 14JNN1

38738 Federal Register / Vol. 81, No. 114 / Tuesday, June 14, 2016 / Notices request for Office of Management and FOR FURTHER INFORMATION CONTACT: (OMB) for review. The agency Budget approval. All comments will Copies of the submission may be regulation authorizes the NRC to collect become a matter of public record. The obtained by emailing PRAComments@ information about applicants and public is invited to submit comments ncua.gov or viewing the entire recipients who are either applying for, concerning: (a) Whether the collection information collection request at or receiving Federal Financial of information is necessary for the www.reginfo.gov. Assistance (FFA) from the Commission. proper performance of the function of SUPPLEMENTARY INFORMATION: DATES: Submit comments by July 14, the agency, including whether the OMB Number: 3133–0133. 2016. information will have practical utility; Type of Review: Reinstatement with ADDRESSES: Submit comments directly (b) the accuracy of the agency’s estimate change of a previously approved to the OMB reviewer at: Vlad Dorjets, of the burden of the collection of collection. Desk Officer, Office of Information and information, including the validity of Title: Investment and Deposit Regulatory Affairs (3150–0209), NEOB– the methodology and assumptions used; Activities, 12 CFR part 703. 10202, Office of Management and (c) ways to enhance the quality, utility, Abstract: The National Credit Union Budget, Washington, DC 20503; and clarity of the information to be Administration (NCUA) Federal Credit telephone: 202–395–7315, email: oira_ collected; and (d) ways to minimize the Union Act, 12 U.S.C. 1757(7), 1757(8), submission@omb.eop.gov. burden of the collection of the 1757(15), lists securities, deposits, and information on the respondents, FOR FURTHER INFORMATION CONTACT: other obligations in which a Federal David Cullison, NRC Clearance Officer, including the use of automated Credit Union (FCU) may invest. The collection techniques or other forms of U.S. Nuclear Regulatory Commission, regulations related to these areas are Washington, DC 20555–0001; telephone: information technology. contained in part 703 and section 721.3 By Gerard Poliquin, Secretary of the 301–415–2084; email: of the NCUA regulations and set forth INFOCOLLECTS.Resource@nrc.gov. Board, the National Credit Union requirements related to maintaining an Administration, on June 8, 2016. SUPPLEMENTARY INFORMATION: adequate investment program. Dated: June 8, 2016. The information collected is used to I. Obtaining Information and Dawn D. Wolfgang, limit and monitor the level of risk that Submitting Comments NCUA PRA Clearance Officer. exists within a credit union, the actions A. Obtaining Information [FR Doc. 2016–13949 Filed 6–13–16; 8:45 am] taken by the credit union to mitigate such risk, and help prevent losses to Please refer to Docket ID NRC–2015– BILLING CODE 7535–01–P federal credit unions and the National 0273 when contacting the NRC about Credit Union Share Insurance Fund the availability of information for this NATIONAL CREDIT UNION (NCUSIF). action. You may obtain publicly- ADMINISTRATION Affected Public: Private Sector: Not- available information related to this for-profit institutions. action by any of the following methods: Submission for OMB Review; Estimated Annual Burden Hours: • Federal Rulemaking Web site: Go to Comment Request 211,935. http://www.regulations.gov and search By Gerard Poliquin, Secretary of the for Docket ID NRC–2015–0273. A copy AGENCY:National Credit Union Board, the National Credit Union of the collection of information and Administration (NCUA). Administration, on June 8, 2016. related instructions may be obtained ACTION: Notice. without charge by accessing Docket ID Dated: June 8, 2016. NRC–2015–0273 on this Web site. Dawn D. Wolfgang, SUMMARY: The National Credit Union • NRC’s Agencywide Documents NCUA PRA Clearance Officer. Access and Management System Administration (NCUA) will submit the [FR Doc. 2016–13948 Filed 6–13–16; 8:45 am] (ADAMS): You may obtain publicly- following information collection request to the Office of Management and Budget BILLING CODE 7535–01–P available documents online in the (OMB) for review and clearance in ADAMS Public Documents collection at accordance with the Paperwork http://www.nrc.gov/reading-rm/ Reduction Act of 1995, Public Law 104– NUCLEAR REGULATORY adams.html. To begin the search, select 13, on or after the date of publication of COMMISSION ‘‘ADAMS Public Documents’’ and then this notice. select ‘‘Begin Web-based ADAMS [Docket No. NRC–2015–0273] Search.’’ For problems with ADAMS, DATES: Comments should be received on please contact the NRC’s Public or before July 14, 2016 to be assured of Information Collection: Document Room (PDR) reference staff at consideration. Nondiscrimination on the Basis of Sex 1–800–397–4209, 301–415–4737, or by in Education Programs or Activities ADDRESSES: Send comments regarding email to pdr.resource@nrc.gov. A copy Receiving Federal Financial the burden estimate, or any other aspect of the collection of information and Assistance of the information collection, including related instructions may be obtained suggestions for reducing the burden, to AGENCY: Nuclear Regulatory without charge by accessing ADAMS (1) Office of Information and Regulatory Commission. Accession ADAMS ML16145A294. The Affairs, Office of Management and ACTION: Notice of submission to the supporting statement and NRC Form Budget, Attention: Desk Officer for 781, ‘‘SBCR Compliance Review,’’ and srobinson on DSK5SPTVN1PROD with NOTICES Office of Management and Budget; NCUA, New Executive Office Building, request for comment. NRC Form 782 ‘‘Complaint Form,’’ are Room 10235, Washington, DC 20503, or available in ADAMS under Accession email at OIRA_Submission@ SUMMARY: The U.S. Nuclear Regulatory numbers ML16145A343, ML16145A302, OMB.EOP.gov and (2) NCUA PRA Commission (NRC) has recently and ML16145A305. Clearance Officer, 1775 Duke Street, submitted a request for renewal of an • NRC’s PDR: You may examine and Alexandria, VA 22314–3428 or email at existing collection of information to the purchase copies of public documents at PRAComments@ncua.gov. Office of Management and Budget the NRC’s PDR, Room O1–F21, One VerDate Sep<11>2014 19:36 Jun 13, 2016 Jkt 238001 PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 E:\FR\FM\14JNN1.SGM 14JNN1


Document Created: 2016-06-14 02:58:29
Document Modified: 2016-06-14 02:58:29
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for comment.
DatesWritten comments should be received on or before August 15, 2016 to be assured consideration.
ContactRequests for additional information
FR Citation81 FR 38737 
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