[Federal Register Volume 81, Number 185 (Friday, September 23, 2016)]
[Notices]
[Pages 65674-65675]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-22913]
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NATIONAL CREDIT UNION ADMINISTRATION
Agency Information Collection Activities: Proposed Collections;
Comment Request
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice and request for comment.
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SUMMARY: The National Credit Union Administration (NCUA), as part of a
continuing effort to reduce paperwork and respondent burden, invites
the general public and other Federal agencies to comment on extensions
of previously approved collections, 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 November 22,
2016 to be assured consideration.
ADDRESSES: Interested persons are invited to submit written comments on
the information collections to Dawn Wolfgang, National Credit Union
Administration, 1775 Duke Street, Alexandria, Virginia 22314; 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: 3133-0094.
Title: Suspicious Activity Report by Depository Institutions.
Abstract: The Financial Crimes Enforcement Network (FinCEN),
Department of the Treasury, was granted broad authority to require
suspicious transaction reporting under the Bank Secrecy Act (BSA) (31
U.S.C. 5318(g)). FinCEN joined with the bank regulators in adopting and
requiring reports of suspicious transactions on a consolidated
suspicious activity report (SARs) form. This simplified the process
through which banks inform their regulators and law enforcement about
suspected criminal activity. In 2011, FinCEN transitioned from industry
specific paper forms to one electronically filed dynamic and
interactive BAS-SAR for use by all filing institutions.
Information about suspicious transactions conducted or attempted
by, at, through, or otherwise involving credit unions are collected
through FinCEN's BSA E-filing system by credit unions. A SAR is to be
filed no later than 30 calendar days from the date of the initial
detection of facts that may constitute a basis for filing a SAR. If no
suspect can be identified, the period for filing a SAR is extended to
60 days. FinCEN and law enforcement agencies use the information on
BSA-SARs and the supporting documentation retained by the banks for
criminal investigation and prosecution purposes.
Adjustments in burden are due to an increase in total filings of
suspicious activity by federally insured credit unions. The decrease in
burden is due to adjustments made to the reporting and recordkeeping
burden to align with FinCEN requirements.
Type of Review: Extension of a previously approved collection.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated No. of Respondents/Recordkeepers: 5,887.
Estimated No. of Responses per Respondent: 14.24.
Estimated Annual Responses: 83,859.
Estimated Burden Hours per Response: 1.
Estimated Total Annual Burden Hours: 83,859.
OMB Number: 3133-0167.
Title: Foreign Branching; 12 CFR 741.11.
Abstract: Pursuant to Part 741, Section 741.11 of the NCUA Rules
and Regulations, an insured credit union that wishes to establish a
branch office outside the United States (other than branches located on
United States military installations or embassies) must apply for and
receive approval from the NCUA regional director before establishing
that branch. The application must include (1) a business plan, (2)
written approval by the state supervisory agency if the applicant is a
state-chartered credit union, and (3) documentation evidencing written
permission from the host country to establish the branch that
explicitly recognizes NCUA's authority to examine and take any
enforcement actions,
[[Page 65675]]
including conservatorship and liquidation actions.
It is NCUA's understanding that no Federally Insured Credit Unions
have sought to open any branches covered by this requirement over the
last three years. However, we are seeking to maintain the OMB control
number in the event that a credit union wishes to exercise this option.
This information is necessary to evaluate the safety and soundness
of the decision to open the branch and to protect the interests of the
National Credit Union Share Insurance Fund.
Type of Review: Extension of a previously approved collection.
Estimated No. Respondents: Federally-insured credit unions.
Estimated No. of Respondents: One.
Frequency of Response: Once per foreign branch.
Estimated Burden Hours per Response: 32.
Estimated Total Annual Burden Hours: 32.
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
execution 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 John Brolin, Acting Secretary of the Board, the National
Credit Union Administration, on September 19, 2016.
Dated: September 19, 2016.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-22913 Filed 9-22-16; 8:45 am]
BILLING CODE 7535-01-P