Revisions of Agency Information Collections for Comments Request: Proposed Collections
| Court | National Credit Union Administration |
| Citation | 88 FR 62604 |
| Published date | 12 September 2023 |
| Record Number | 2023-19585 |
| Section | Notices |
Federal Register, Volume 88 Issue 175 (Tuesday, September 12, 2023)
[Federal Register Volume 88, Number 175 (Tuesday, September 12, 2023)]
[Notices]
[Pages 62604-62605]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-19585]
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NATIONAL CREDIT UNION ADMINISTRATION
Revisions of Agency Information Collections for Comments Request:
Proposed Collections
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice and request for comments.
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SUMMARY: The National Credit Union Administration (NCUA) will submit
the following information collection requests to the Office of
Management and Budget (OMB) for review and clearance in accordance with
the Paperwork Reduction Act of 1995, on or after the date of
publication of this notice.
DATES: Written comments should be received on or before November 13,
2023 to be assured consideration.
ADDRESSES: Interested persons are invited to submit written comments on
the information collection to Mahala Vixamar, National Credit Union
Administration, 1775 Duke Street, Alexandria, Virginia 22314, Suite
5067; Fax No. 703-519-8579; or Email at [email protected].
FOR FURTHER INFORMATION CONTACT: Copies of the submission may be
obtained by contacting Mahala Vixamar at (703) 718-1155.
SUPPLEMENTARY INFORMATION:
OMB Number: 3133-0004.
Title: NCUA Call Report.
Type of Review: Revision of a currently approved collection.
Abstract: Sections 106 and 202 of the Federal Credit Union Act
require federally insured credit unions (FICUs) to make financial
reports to the NCUA. Section 741.6 of the NCUA Rules and Regulations
requires all FICUs to submit a Call Report quarterly. Financial
information collected through the Call Report is essential to NCUA
supervision of federal credit unions. This information also facilitates
NCUA monitoring of other credit unions with share accounts insured by
the National Credit Union Share Insurance Fund (NCUSIF).
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Total Annual Burden Hours: 81,552.
Reason for Change: There are proposed changes to the Call Report to
add two accounts. These accounts will collect the number and amount of
loans to borrowers experiencing financially difficulty who are not in
compliance with the modified loan terms. Furthermore, another account
will
[[Page 62605]]
collect the allowance for credit losses on available-for-sale debt
securities.
OMB Number: 3133-0040.
Title: Federal Credit Union Occupancy, Planning, and Disposal of
Acquired and Abandoned Premises--12 CFR 701.36.
Type of Review: Extension of a previously approved collection.
Abstract: Section 107(4) of the Federal Credit Union Act authorizes
a federal credit union (FCU) to purchase, hold, and dispose of property
necessary or incidental to its operations. Section 701.36 of NCUA Rules
and Regulations interprets and implements this provision of the FCU Act
by establishing occupancy, planning, and disposal requirements for
acquired and abandoned premises. It also prohibits certain
transactions. In addition, this section includes provisions in which an
FCU may seek a waiver from certain requirements of the rule. NCUA
reviews written waiver requests and makes a determination on the
request based on safety and soundness considerations.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Total Annual Burden Hours: 30.
OMB Number: 3133-0067.
Title: Corporate Credit Union Monthly Call Report and Annual Report
of Officers.
Type of Review: Revision of a currently approved collection.
Abstract: Section 202(a)(1) of the Federal Credit Union Act (Act)
requires federally insured credit unions to make reports of condition
to the NCUA Board upon dates selected by it. Corporate credit unions
report this information monthly on NCUA Form 5310, also known as the
Corporate Credit Union Call Report. The financial and statistical
information is essential to NCUA in carrying out its responsibility for
supervising corporate credit unions. The Federal Credit Union Act, 12
U.S.C. 1762, specifically requires federal credit unions to report the
identity of credit union officials. Section 741.6(a) requires
federally-insured credit unions to submit a Report of Officials
annually to NCUA containing the annual certification of compliance with
security requirements. The branch information is requested under the
authority of Sec. 741.6 of the NCUA Rules and Regulations. NCUA
utilizes the information to monitor financial conditions in corporate
credit unions, and to allocate supervision and examination resources.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Total Annual Burden Hours: 539.
Reason for Change: The 5310 Corporate Call Report, Profile, and
Corporate Financial Performance Reports (CFPR) for calendar year 2024
have several changes that entail removal of references to Current
Expected Credit Loss (CECL) early adoption language; removal of the
Available for Sale Book Value references; additional supplemental
information for charitable donation accounts, subordinated debt
purchased from member credit unions, and additional information about
CUSO investments; additional liquidity, weighted average life (WAL),
and WAL with 50 percent prepayment information reporting, and Federal
Reserve Bank Excess Balance Account reporting; clarification of
Information System and Technology questions on the Profile form; and
corresponding updates to the Corporate Financial Performance Report
(CFPR), including a new template for aggregate CFPRs that shows
weighted average ratios.
OMB Number: 3133-0127.
Title: Purchase, Sale, and Pledge of Eligible Obligations--12 CFR
701.23.
Type of Review: Revision of a currently approved collection.
Abstract: Section 701.23 authorizes Federal Credit Unions to sell
and pledge loans and purchase eligible obligations from other
institutions.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Total Annual Burden Hours: 12,748.
OMB Number: 3133-0189.
Title: Contractor Budget and Representations and Certifications.
Type of Review: Extension of a previously approved collection.
Abstract: Standardized information from prospective outside counsel
is essential to the NCUA in carrying out its responsibility as
regulator, conservator, and liquidating agent for federally insured
credit unions. The information will enable the NCUA to further
standardize the data it uses to select outside counsel, consider
additional criteria in making its selections, and improve efficiency
and recordkeeping related to its selection process.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Total Annual Burden Hours: 200.
OMB Number: 3133-0199.
Title: Capital Planning and Stress Testing, 12 CFR 702-E.
Type of Review: Revision of a currently approved collection.
Abstract: To protect the National Credit Union Share Insurance Fund
(NCUSIF) and the credit union system, the largest Federally Insured
Credit Unions (FICUs) need to have systems and processes in place to
monitor and maintain their capital adequacy. Subpart C of Part 702 of
NCUA's regulations codifies the capital planning and stress testing
requirements for federally insured credit unions with $10 billion or
more in assets (covered credit unions). NCUA issues these regulations
under the authority of Section 120(a) requiring their supervised
institutions to conduct annual stress tests. Stress testing is needed
to assess the potential impact of expected and stressed economic
conditions on the consolidated earnings, losses, and capital of a
covered credit union over the planning horizon, taking into account the
current state of the covered credit union and the covered credit
union's risks, exposures, strategies, and activities.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Total Annual Burden Hours: 9,380.
Reason for Change: Burden increased due to the increase in the
number of credit unions meeting the asset size threshold for capital
planning and self-run stress testing and because of the updated self-
run SST results reporting template, as well as reporting of internal
capital analysis results on the updated template.
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 the National Credit Union Administration Board.
Melane Conyers-Ausbrooks,
Secretary of the Board.
[FR Doc. 2023-19585 Filed 9-11-23; 8:45 am]
BILLING CODE 7535-01-P
