Reporting and recordkeeping requirements,

[Federal Register: September 10, 1999 (Volume 64, Number 175)]

[Rules and Regulations]

[Page 49079-49080]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr10se99-2]

NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Part 795

OMB Control Numbers

AGENCY: National Credit Union Administration (NCUA).

ACTION: Final rule.

SUMMARY: NCUA is updating its listing displaying the Office of Management and Budget (OMB) control numbers for information collection requirements found in NCUA regulations. The Paperwork Reduction Act mandates NCUA to make these revisions.

DATES: Effective September 10, 1999.

ADDRESSES: National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 2314-3428.

FOR FURTHER INFORMATION CONTACT: Regina M. Metz, Staff Attorney, Division of Operations, Office of General Counsel, at the above address or telephone: (703) 518-6540.

SUPPLEMENTARY INFORMATION:

1. Background

   The Paperwork Reduction Act requires that agencies display a current OMB control number for each agency collection requirement found in a regulation. NCUA is revising 795.1(b) to reflect changes in NCUA's information collection requirements and OMB's control numbers for each requirement.

2. Final Rule

   The NCUA Board is issuing this regulation as a final rule because of the strong public interest in updating the regulation, in accordance with the requirements of Sec. 3507(f) of the Paperwork Reduction Act. The rule is effective upon publication so that the NCUA can display the current OMB control number for each information collection requirement in NCUA's regulations. Accordingly, for good cause, the Board finds that, pursuant to 5 U.S.C. 553(b)(3)(B), notice and public procedures are impracticable, unnecessary, and contrary to the public interest; and, pursuant to 5 U.S.C. 553(d)(3), the rule shall be effective immediately and without 30 days advance notice of publication.

3. Regulatory Procedures

   1. Regulatory Flexibility Act

      The Regulatory Flexibility Act requires NCUA to prepare an analysis to describe any significant economic impact any proposed regulation may have on a substantial number of small entities (primarily those under $1 million in assets). The NCUA has determined and certifies that this interim rule will not have a significant economic impact on a substantial number of small credit unions. Accordingly, the NCUA has determined that a Regulatory Flexibility Analysis is not required.

   2. Paperwork Reduction Act

      This proposed rule to update Sec. 795.1(b) does not involve a collection of information under the Paperwork Reduction Act. Accordingly, NCUA has determined that a Paperwork Reduction analysis is not required.

   3. Executive Order 12612

      Executive Order 12612 requires NCUA to consider the effect of its actions on state interests. The final rule, as does the current rule, applies to all federally insured credit unions, including federally insured state chartered credit unions. However, since the final rule reduces regulatory burden, NCUA has determined that the final rule does not constitute a ``significant regulatory action'' for purposes of the Executive Order.

   4. Small Business Regulatory Enforcement Fairness Act

      The Small Business Regulatory Enforcement Fairness Act of 1996 (Pub. L. 104-121) provides generally for congressional review of agency rules. A reporting requirement is triggered in instances where NCUA issues a final rule as defined by Section 551 of the Administrative Procedures Act. 5 U.S.C. 551. OMB is reviewing this rule to determine whether it is major for purposes of the Small Business Regulatory Enforcement Fairness Act of 1996.

      [[Page 49080]]

      List of Subjects in 12 CFR Part 795

      Credit unions, Collection requirements.

      By the National Credit Union Administration Board on August 30, 1999. Becky Baker, Secretary of the Board.

      For the reasons set forth above, National Credit Union Administration amends 12 CFR part 795 as follows:

      PART 795--OMB CONTROL NUMBERS

   1. The authority citation for part 795 continues to read as follows:

      Authority: 12 U.S.C. 1766(a) and 5 U.S.C. 3507(f).

   2. In Sec. 795.1 paragraph (b) is revised to read as follows:

      Sec. 795.1 OMB control numbers.

      (a) * * *

      (b) Display.

      Current OMB 12 CFR part or section where identified and described control No.

      701.1...................................................... 3133-0015 701.6...................................................... 3133-0142 701.12..................................................... 3133-0059 701.13..................................................... 3133-0059 701.14..................................................... 3133-0121 701.21..................................................... 3133-0139 701.22..................................................... 3133-0141 701.26..................................................... 3133-0149 701.31..................................................... 3133-0068 701.32..................................................... 3133-0114 701.33..................................................... 3133-0130 701.34..................................................... 3133-0117 703........................................................ 3133-0133 704........................................................ 3133-0129 704.11..................................................... 3133-0149 705........................................................ 3133-0137 3133-0138 708a....................................................... 3133-0153 708b....................................................... 3133-0024 711........................................................ 3133-0152 712........................................................ 3133-0149 714........................................................ 3133-0151 723........................................................ 3133-0101 724........................................................ 3133-0035 725........................................................ 3133-0061 3133-0063 3133-0064 3133-0136 3133-0155 3133-0156 3133-0157 3133-0158 3133-0159 741........................................................ 3133-0067 741.6...................................................... 3133-0004 748........................................................ 3133-0108 3133-0121 749........................................................ 3133-0032 760........................................................ 3133-0143 792........................................................ 3133-0146

      [FR Doc. 99-23498Filed9-9-99; 8:45 am]

      BILLING CODE 7535-01-P