[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]]
=======================================================================
-----------------------------------------------------------------------
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.
-----------------------------------------------------------------------
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