82 FR 16073 - Submission for OMB Review; Comment Request
NATIONAL CREDIT UNION ADMINISTRATION Federal Register Volume 82, Issue 61 (March 31, 2017)
Federal Register Volume 82, Issue 61 (March 31, 2017)
| Page Range | 16073-16073 | |
| FR Document | 2017-06353 |
[Federal Register Volume 82, Number 61 (Friday, March 31, 2017)] [Notices] [Page 16073] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-06353] ======================================================================= ----------------------------------------------------------------------- NATIONAL CREDIT UNION ADMINISTRATION Submission for OMB Review; Comment Request AGENCY: National Credit Union Administration (NCUA). ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: The National Credit Union Administration (NCUA) will be submitting 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. DATES: Comments should be received on or before May 1, 2017 to be assured of consideration. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestions for reducing the burden, to (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for NCUA, New Executive Office Building, Room 10235, Washington, DC 20503, or email at [email protected] and (2) NCUA PRA Clearance Officer, 1775 Duke Street, Alexandria, VA 22314, Suite 5067, or email at [email protected]. FOR FURTHER INFORMATION CONTACT: Copies of the submission may be obtained by contacting Dawn Wolfgang, NCUA PRA Clearance Officer, at (703) 548-2279, emailing [email protected], or viewing the entire information collection request at www.reginfo.gov. SUPPLEMENTARY INFORMATION: OMB Number: 3133-0151. Title: Leasing, 12 CFR part 714. Abstract: Section 714.5 of NCUA's Regulations requires a federal credit union engaged in leasing to obtain or have on file financial documentation demonstrating that the guarantor of an estimated residual value has the resources to meet the guarantee. Estimated residual value is the projected future value of leased property at lease end. The accuracy of the estimated residual values used in a lease program is a fundamental element in the success or failure of a lease program. The higher the estimated residual values used by a federal credit union, the greater the potential for loss. To mitigate this risk, the leasing rule requires that if the amount of the estimated residual value relied on by the federal credit union to satisfy the full payout lease requirement exceeds 25 percent of the original cost of the leased property, the credit union must obtain a guarantee of the excess from a financially capable party. If the guarantor cannot meet its guarantee, a federal credit union may suffer serious financial loss. Accordingly, it is important that a federal credit union documents that a guarantor has the financial resources and capability to meet the guarantee. If the guarantor is an insurance company, the federal credit union may satisfy this record keeping requirement by obtaining and maintaining information demonstrating that the insurance company has a rating equivalent to a B+ or better from a major rating company. Type of Review: Extension of a currently approved collection. Affected Public: Private Sector: Not-for-profit institutions. Estimated Total Annual Burden Hours: 680. OMB Number: 3133-0135. Title: Authorization Agreement for Electronic Funds Transfer Payment. Abstract: The NCUA is required under the Debt Collection Improvement Act of 1996 to issue payments to credit unions and all other entities electronically. The ``Authorization Agreement for Electronic Funds Transfer Payment'' form is used to maintain up-to-date and accurate electronic payment data for new and existing credit unions. NCUA uses this information to update their electronic routing and transit database to enable transmittal of funds and payments. This collection of information is needed to allow NCUA authorization to make financial transactions electronically through the Automated Clearing House (ACH) in compliance with the Debt Collection Improvement Act of 1996. Type of Review: Extension of a currently approved collection. Affected Public: Private Sector: Businesses or other for-profits. Estimated Total Annual Burden Hours: 25. OMB Number: 3133-0166. Title: Home Mortgage Disclosure Act (HMDA), 12 CFR 1003 (Regulation C). Abstract: Regulation C, 12 CFR part 1003, requires financial institutions that meet certain thresholds to report data annually about: Each application or loan, including the application date; the action taken and the date of that action; the loan amount; the loan type, and purpose; and, if the loan is sold, the type of purchaser; Each applicant or borrower, including ethnicity, race, sex, and income; and Each property, including location and occupancy status. A covered lender generally must update information quarterly and must submit the completed loan application register (LAR) annually to the appropriate Federal agency by March 1 of the year following the year covered by the LAR. The Federal Financial Institutions Examination Council (FFIEC) then prepares a disclosure statement from data submitted by the financial institutions, and provides the disclosure statement to the financial institution to make available at its home office. A covered lender must make each public disclosure statement available to the public for five years and retain its completed LAR for three years. Type of Review: Extension of a currently approved collection. Affected Public: Private Sector: Not-for-profit institutions. Estimated Total Annual Burden Hours: 74,542. By Gerard Poliquin, Secretary of the Board, the National Credit Union Administration, on March 28, 2017. Dated: March 28, 2017. Dawn D. Wolfgang, NCUA PRA Clearance Officer. [FR Doc. 2017-06353 Filed 3-30-17; 8:45 am] BILLING CODE 7535-01-P
![Federal Register / Vol. 82, No. 61 / Friday, March 31, 2017 / Notices 16073
section will cease. Accumulations of information collection request at through the Automated Clearing House
coal and combustible materials www.reginfo.gov. (ACH) in compliance with the Debt
referenced in 30 CFR 75.400 will be SUPPLEMENTARY INFORMATION: Collection Improvement Act of 1996.
removed before testing begins to provide OMB Number: 3133–0151. Type of Review: Extension of a
additional safety to miners. Title: Leasing, 12 CFR part 714. currently approved collection.
(7) All electronic testing and Abstract: Section 714.5 of NCUA’s Affected Public: Private Sector:
diagnostic equipment will be used in Regulations requires a federal credit Businesses or other for-profits.
accordance with the manufacturer’s union engaged in leasing to obtain or Estimated Total Annual Burden
recommendations. have on file financial documentation Hours: 25.
(8) Qualified personnel who use demonstrating that the guarantor of an OMB Number: 3133–0166.
electronic testing and diagnostic estimated residual value has the Title: Home Mortgage Disclosure Act
equipment will be properly trained to resources to meet the guarantee. (HMDA), 12 CFR 1003 (Regulation C).
recognize the hazards and limitations Estimated residual value is the projected Abstract: Regulation C, 12 CFR part
associated with use of the equipment. future value of leased property at lease 1003, requires financial institutions that
The petitioner asserts that the end. The accuracy of the estimated meet certain thresholds to report data
proposed alternative method will at all residual values used in a lease program annually about: Each application or
times guarantee no less than the same is a fundamental element in the success loan, including the application date; the
measure of protection afforded by the or failure of a lease program. The higher action taken and the date of that action;
existing standard. the estimated residual values used by a the loan amount; the loan type, and
Sheila McConnell, federal credit union, the greater the purpose; and, if the loan is sold, the
Director, Office of Standards, Regulations, potential for loss. To mitigate this risk, type of purchaser; Each applicant or
and Variances. the leasing rule requires that if the borrower, including ethnicity, race, sex,
[FR Doc. 2017–06344 Filed 3–30–17; 8:45 am] amount of the estimated residual value and income; and Each property,
BILLING CODE 4520–43–P relied on by the federal credit union to including location and occupancy
satisfy the full payout lease requirement status.
exceeds 25 percent of the original cost A covered lender generally must
NATIONAL CREDIT UNION of the leased property, the credit union update information quarterly and must
ADMINISTRATION must obtain a guarantee of the excess submit the completed loan application
from a financially capable party. register (LAR) annually to the
Submission for OMB Review; If the guarantor cannot meet its appropriate Federal agency by March 1
Comment Request guarantee, a federal credit union may of the year following the year covered
suffer serious financial loss. by the LAR. The Federal Financial
AGENCY: National Credit Union Accordingly, it is important that a Institutions Examination Council
Administration (NCUA). federal credit union documents that a (FFIEC) then prepares a disclosure
ACTION: Notice. guarantor has the financial resources statement from data submitted by the
and capability to meet the guarantee. If financial institutions, and provides the
SUMMARY: The National Credit Union the guarantor is an insurance company, disclosure statement to the financial
Administration (NCUA) will be the federal credit union may satisfy this institution to make available at its home
submitting the following information record keeping requirement by office. A covered lender must make each
collection requests to the Office of obtaining and maintaining information public disclosure statement available to
Management and Budget (OMB) for demonstrating that the insurance the public for five years and retain its
review and clearance in accordance company has a rating equivalent to a B+ completed LAR for three years.
with the Paperwork Reduction Act of or better from a major rating company. Type of Review: Extension of a
1995, on or after the date of publication Type of Review: Extension of a currently approved collection.
of this notice. currently approved collection. Affected Public: Private Sector: Not-
DATES: Comments should be received on Affected Public: Private Sector: Not- for-profit institutions.
or before May 1, 2017 to be assured of for-profit institutions. Estimated Total Annual Burden
consideration. Estimated Total Annual Burden Hours: 74,542.
ADDRESSES: Send comments regarding Hours: 680. By Gerard Poliquin, Secretary of the Board,
the burden estimate, or any other aspect OMB Number: 3133–0135. the National Credit Union Administration, on
of the information collection, including Title: Authorization Agreement for March 28, 2017.
suggestions for reducing the burden, to Electronic Funds Transfer Payment. Dated: March 28, 2017.
(1) Office of Information and Regulatory Abstract: The NCUA is required Dawn D. Wolfgang,
Affairs, Office of Management and under the Debt Collection Improvement NCUA PRA Clearance Officer.
Budget, Attention: Desk Officer for Act of 1996 to issue payments to credit
NCUA, New Executive Office Building, [FR Doc. 2017–06353 Filed 3–30–17; 8:45 am]
unions and all other entities
Room 10235, Washington, DC 20503, or BILLING CODE 7535–01–P
electronically. The ‘‘Authorization
email at OIRA_Submission@ Agreement for Electronic Funds
OMB.EOP.gov and (2) NCUA PRA Transfer Payment’’ form is used to
Clearance Officer, 1775 Duke Street, maintain up-to-date and accurate NATIONAL FOUNDATION ON THE
Alexandria, VA 22314, Suite 5067, or electronic payment data for new and
sradovich on DSK3GMQ082PROD with NOTICES
ARTS AND THE HUMANITIES
email at PRAComments@ncua.gov. existing credit unions. NCUA uses this
FOR FURTHER INFORMATION CONTACT: information to update their electronic National Endowment for the Arts
Copies of the submission may be routing and transit database to enable
obtained by contacting Dawn Wolfgang, transmittal of funds and payments. This Proposed Collection; Comment
NCUA PRA Clearance Officer, at (703) collection of information is needed to Request
548–2279, emailing PRAComments@ allow NCUA authorization to make
ACTION: Notice.
ncua.gov, or viewing the entire financial transactions electronically
VerDate Sep<11>2014 16:31 Mar 30, 2017 Jkt 241001 PO 00000 Frm 00055 Fmt 4703 Sfmt 4703 E:\FR\FM\31MRN1.SGM 31MRN1](https://thefederalregister.org/doc/82_FR_16134/page/1.svg)
Document Created: 2017-03-31 01:37:57
Document Modified: 2017-03-31 01:37:57
| 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 | Notice. | |
| Dates | Comments should be received on or before May 1, 2017 to be assured of consideration. | |
| Contact | Copies of the submission may be obtained by contacting Dawn Wolfgang, NCUA PRA Clearance Officer, at (703) 548-2279, emailing [email protected], or viewing the entire information collection request at www.reginfo.gov. | |
| FR Citation | 82 FR 16073 |
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