83 FR 58303 - Agency Information Collection Activities: Proposed Collection; Comment Request; Loan Participation

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 83, Issue 223 (November 19, 2018)

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 renewal of a currently approved collection, as required by the Paperwork Reduction Act of 1995.

[Federal Register Volume 83, Number 223 (Monday, November 19, 2018)]
[Notices]
[Page 58303]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-25141]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request; Loan Participation

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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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 renewal of a currently approved collection, as required by 
the Paperwork Reduction Act of 1995.

DATES: Written comments should be received on or before January 18, 
2019 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 5080, Alexandria, Virginia 
22314; 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 or Dawn Wolfgang at 703-548-
2279.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0141.
    Title: Organization and Operations of Federal Credit Unions--Loan 
Participation, 12 CFR 701.22.
    Type of Review: Extension of a currently approved collection.
    Abstract: NCUA rules and regulations, Sec. Sec.  701.22 and 
741.225, outline the requirements for a loan participation program. 
Federally Insured Credit Unions (FICU) are required to execute a 
written loan participation agreement with the lead lender. 
Additionally, the rule requires all FICUs to maintain a loan 
participation policy that establishes underwriting standards and 
maximum concentration limits. Credit unions may apply for waivers on 
certain key provisions of the rule.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated No. of Respondents: 1,876.
    Estimated Annual Frequency: 1.
    Estimated Total Annual Responses: 3,762.
    Estimated Annual Responses per Respondent: 0.80
    Estimated Total Annual Burden Hours: 3,010.
    Reason for Change: Adjustments are being made to the number of 
respondents to reflect the current number of credit unions affected and 
a more accurate assignment of burden per response.
    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 Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on November 14, 2018.

    Dated: November 14, 2018.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2018-25141 Filed 11-16-18; 8:45 am]
BILLING CODE 7535-01-P