Rules and Regulations. Request for comment

Agency: National Credit Union Administration (NCUA)
Action: Request for comment
Citation: FR Doc. 2013-20932

Summary

The NCUA intends to submit the following information collection to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995. This information collection is published to obtain comments from the public. The NCUA rules and regulations, limit nonmember and public unit deposits in federally insured credit unions to 20 percent of their shares or $3.0 million, whichever is greater.

Dates

Comments will be accepted until September 27, 2013.

Supplementary Information

I. Abstract and Request for Comments NCUA is reinstating the collection for 3133-0114. The collection of information requirement is that those credit unions seeking an exemption from the nonmember deposit limit must adopt a specific written plan and submit their lending and investment policies, a copy of their latest financial statement, and an explanation of the request to the NCUA Regional Director. NCUA uses this information to determine whether a particular credit union will be granted an exemption to the limit on nonmember and public unit deposits. This collection of information is necessary to protect the National Credit Union Share Insurance Fund (“Fund”). There is no change to the burden hours from previous submissions. The NCUA requests that you send your comments on this collection to the location listed in the addresses section. Your comments should address: (a) The necessity of the information collection for the proper performance of NCUA, including whether the information will have practical utility; (b) the accuracy of our estimate of the burden (hours and cost) of the collection of information, including the validity of the methodology and assumptions used; (c) ways we could enhance the quality, utility, and clarity of the information to be collected; and (d) ways we could minimize the burden of the collection of the information on the respondents such as through the use of automated collection techniques or other forms of information technology. It is NCUA's policy to make all comments available to the public for review. II. Data Title: Payment on Shares by Public Units and Nonmembers. OMB Number: 3133-0114. Form Number: None. Type of Review: Reinstatement, without change, of a previously approved collection. Description: 12 CFR 701.32 limits nonmember and public unit deposits in federally insured credit unions to 20 percent of their shares or $3.0 million, whichever is greater. The collection of information requirement is for those credit unions seeking an exemption from the above limit. Respondents: Credit Unions seeking an exemption from the limits on share deposits by public unit and nonmember accounts set by 12 CFR 701.32. Estimated No. of Respondents/Recordkeepers: 20. Estimated Burden Hours per Response: 2 hours. Frequency of Response: Other. As exemption is requested. Estimated Total Annual Burden Hours: 40. Estimated Total Annual Cost: $1,240. By the National Credit Union Administration Board on August 22, 2013. Gerard Poliquin, Secretary of the Board. [FR Doc. 2013-20932 Filed 8-27-13; 8:45 am]