[Federal Register Volume 80, Number 167 (Friday, August 28, 2015)]
[Notices]
[Page 52344]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-21333]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Request for Comments 
for Reinstatement With Change of a Previously Approved Collection, 
Organization and Operation of a Federal Credit Union 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 October 27, 2015.

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

NCUA Contact: Joy Lee, 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, a 
copy of the information collection request, or a copy of submitted 
comments should be directed to:

NCUA Contact: Joy Lee, 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 the reinstatement of 3133-0141 
Organization and Operations of Federal Credit Unions Loan Participation 
information collection. NCUA's regulation, 12 CFR 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.
    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 the information 
collection requirements under Part 701 to the locations 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 Operations of Federal Credit Unions Loan 
Participation.
    OMB Number: 3133-0141.
    Form Number: None.
    Type of Review: Reinstatement with change of an approved 
collection.
    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: $146,342.

    By the National Credit Union Administration Board on August 25, 
2015.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2015-21333 Filed 8-27-15; 8:45 am]
 BILLING CODE 7535-01-P