[Federal Register Volume 77, Number 206 (Wednesday, October 24, 2012)]
[Notices]
[Pages 65018-65019]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-26193]
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NATIONAL CREDIT UNION ADMINISTRATION
Agency Information Collection Activities: Submission to OMB for
Revision to a Currently Approved Information Collection; Comment
Request
AGENCY: National Credit Union Administration (NCUA).
ACTION: Request for comment.
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SUMMARY: The NCUA intends to submit the following information
collection to the Office of Management and Budget (OMB) for review and
clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44
U.S.C. Chapter 35). This information collection is published to obtain
comments from the public. NCUA is proposing a data collection change to
the credit union Profile as well as the 5300 Call Report. NCUA is
proposing to add a new account to the Contacts section of the Profile
to identify the initial date of election or appointment of each
official to help assess the longevity of credit union board members.
Additionally, NCUA is planning to add a question to the Regulatory
section of the Profile where credit unions will be required to certify
their compliance with 12 CFR 701.4. On the 5300 Call Report, NCUA will
revise the regulatory reporting requirements by eliminating the data
collection on modified loans and target data collection efforts on
loans meeting the definition of a troubled debt restructured loan under
Generally Accepted Accounting Principles.
DATES: Comments will be accepted until November 28, 2012.
ADDRESSES: Interested parties are invited to submit written comments to
the NCUA Contact and the OMB Reviewer listed below:
NCUA Contact: Tracy Crews, National Credit Union Administration, 1775
Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-2861,
Email: [email protected].
OMB Contact: 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, a
copy of the information collection request, or a copy of submitted
comments should be directed to Tracy Crews at the National Credit Union
Administration, 1775 Duke Street, Alexandria, VA 22314-3428, or at
(703) 518-6444.
SUPPLEMENTARY INFORMATION:
I. Abstract and Request for Comments
NCUA is amending the currently approved collection for 3133-0004.
Two specific forms are used, NCUA Form 5300 and NCUA Profile Form
4501A, also known as the Call Report and Profile, respectively. Section
741.6 of the NCUA Rules and Regulations requires all federally insured
credit unions to submit a Call Report quarterly. 12 CFR 741.6. The
information enables the NCUA to monitor credit unions whose share
accounts are insured by the National Credit Union Share Insurance Fund.
NCUA uses the information collected from these Call Reports to fulfill
its mission of supervising credit unions and the Federal Reserve Board
uses it to monitor and control the nation's money supply and the system
of financial institutions. Congress and various state legislatures use
this information to monitor, regulate, and control credit unions and
financial institutions. The changes made to the Profile and Call Report
form for December 2012 will help the National Credit Union
Administration assess the longevity of credit union board members and
provide data to assess financial risks and loan practices of credit
unions. There is a decrease of 4,515 hours from the last submission
(2011). The decrease is noted as an adjustment of the number of credit
unions completing Form 5300 from 7,264 federally insured credit
[[Page 65019]]
unions to 7,093. This decline is due strictly to credit union mergers
and liquidations.
The 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. Comments submitted in response to this notice will
be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record.
II. Data
Proposal for the following collection of information:
OMB Number: 3133-0004.
Form Number: NCUA 5300.
Type of Review: Revision to the currently approved collection.
Title: Revisions to NCUA Call Reports.
Description: The financial and statistical information is essential
to NCUA in carrying out its responsibility for the supervision of
federally insured credit unions. The information also enables NCUA to
monitor all federally insured credit unions whose share accounts are
insured by the National Credit Union Share Insurance Fund (NCUSIF).
Respondents: All Credit Unions.
Estimated No. of Respondents/Recordkeepers: 7,093.
Estimated Burden Hours per Response: 6.6 hours.
Frequency of Response: Quarterly.
Estimated Total Annual Burden Hours: 187,255.
Estimated Total Annual Cost: $5,495,934.
By the National Credit Union Administration Board on October 18,
2012.
Mary Rupp,
Secretary of the Board.
[FR Doc. 2012-26193 Filed 10-23-12; 8:45 am]
BILLING CODE 7535-01-P