[Federal Register Volume 81, Number 45 (Tuesday, March 8, 2016)]
[Notices]
[Page 12131]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-05010]



[[Page 12131]]

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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request; Corporate Credit Unions

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comments.

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SUMMARY: The NCUA, as part of its continuing efforts 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, Public 
Law 104-13 (44 U.S.C. 3506(c)(2)(A)). The NCUA is soliciting comments 
concerning regulations on corporate credit unions under 12 CFR part 
704.

DATES: Written comments should be received on or before May 9, 2016 to 
be assured of consideration.

ADDRESSES: Interested persons are invited to submit comments to Dawn 
Wolfgang, National Credit Union Administration, 1775 Duke Street, 
Alexandria, Virginia 22314-3428, Fax No. 703-837-2861, or Email at 
[email protected].

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

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0129.
    Title: 12 CFR part 704, Corporate Credit Unions.
    Abstract: Part 704 of NCUA's regulations established the regulatory 
framework for corporate credit unions. This includes various reporting 
and recordkeeping requirements as well as safety and soundness 
standards. NCUA has established and regulates corporate credit unions 
pursuant to its authority under sections 120, 201, and 209 of the 
Federal Credit Union Act, 12 U.S.C. 1766(a), 1781, and 1789. The 
collection of information is necessary to ensure that corporate credit 
unions operate in a safe and sound manner by limiting risk to their 
natural person credit union members and the National Credit Union Share 
Insurance Fund.
    Part 704 includes the following information collection 
requirements: Retained Earnings Accumulation Plan (Sec.  704.3(a)(3)); 
Notice of Intent to Redeem or Call Contributed Capital (Sec. Sec.  
704.3(b)(5) and (c)(3)); Notice of PCA Category Change (Sec.  
704.4(c)(2)); Capital Restoration Plan (Sec.  704.4(e)); ALM Testing 
(Sec.  704.8(j)); Investment Action Plan (Sec.  704.10); Disclosure of 
Dual Employee Compensation Received from Corporate Credit Union Service 
Organization (Corporate CUSO) (Sec.  704.11(g)); Corporate CUSO 
Approval Request (Sec.  704.11(e)); Recorded Director Votes (Sec.  
704.13(c)(8)); Management Report (Sec.  704.15(a)(2)); Notice of 
Engagement or Termination of Accountants (Sec.  704.15(c)(4)); 
Notification of Late Filing (Sec.  704.15(c)(5)); Disclosure of 
Executive Compensation (Sec.  704.19), and Merger-Related Disclosures 
(Sec.  704.19(d)).
    Type of Review: Reinstatement with change of a previously approved 
collection.
    Affected Public: Federal and state-chartered corporate credit 
unions.
    Estimated No. of Respondents/Recordkeepers: 12.
    Estimated No. of Responses: 200.
    Estimated No. of Responses per Respondent: 17.
    Estimated Hours per Response: 2.4.
    Estimated Total Annual Burden Hours: 483.
    Reason for Change: The burden has decreased from the previous 
submission primarily due to a decrease in the number of corporate 
credit unions from 27 to 12. However, the remaining corporate credit 
unions tend to be more complex and approved for expanded authorities. 
Additional burden reductions are attributed information collection 
elements not adopted, eliminated, or moved by rulemaking.

    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 
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 information collection, 
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 information 
collection on 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 March 2, 2016.

    Dated: March 2, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-05010 Filed 3-7-16; 8:45 am]
BILLING CODE 7535-01-P