[Federal Register Volume 81, Number 61 (Wednesday, March 30, 2016)]
[Notices]
[Page 17740]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-07123]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request; Investment and Deposit Activities

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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SUMMARY: NCUA, as part of its continuing effort 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 (Pub. L. 
104-13, 44 U.S.C. Chapter 35).

DATES: Written comments should be received on or before May 31, 2016 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, Alexandria, Virginia 22314-3428; 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.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0133.
    Title: Investment and Deposit Activities, 12 CFR part 703.
    Abstract: The National Credit Union Administration (NCUA) Federal 
Credit Union Act, 12 U.S.C. 1757(7), 1757(8), 1757(15), lists 
securities, deposits, and other obligations in which a Federal Credit 
Union (FCU) may invest. The regulations related to these areas are 
contained in Part 703 and Section 721.3 of the NCUA Rules and 
Regulations. These regulations also set forth requirements related to 
maintaining an adequate investment program, including several required 
reporting areas.
    The information collected is used by the NCUA to determine 
compliance with the appropriate sections of the NCUA Rules and 
Regulations and Federal Credit Union Act, which governs investment and 
deposit activities on the basis of safety and soundness concerns. It is 
used to determine the level of risk that exists within a credit union, 
the actions taken by the credit union to mitigate such risk, and helps 
prevent losses to federal credit unions and the National Credit Union 
Share Insurance Fund (NCUSIF).
    Type of Review: Reinstatement with change of a previously approved 
collection.
    Affected Public: Federal credit unions.
    Estimated No. of Respondents/Recordkeepers: 3,899.
    Frequency of Response: Upon occurrence of triggering action.
    Estimated Burden Hours per Response: Avg. time per response for 
information collection requirements prescribed under Subpart A: 0.55; 
Subpart B: 6.96.
    Estimated Total Annual Burden Hours: 211,935.

    Reason for Change: The number of respondents have decreased 
(Subpart A) due to an adjustment in the number of FCUs, decreasing the 
total burden, and increases in the number of responses are attributed 
to adjustments to reflect actual program activity. Program changes are 
attributed to new information collection requirements prescribed by 
Subpart B.
    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 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 March 23, 2016.

    Dated: March 24, 2016.

Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-07123 Filed 3-29-16; 8:45 am]
BILLING CODE 7535-01-P