Rules and Regulations. Request for comment

Agency: National Credit Union Administration (NCUA)
Action: Request for comment
Citation: FR Doc. 2013-20936

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, contain a provision that any insured credit union must apply for and receive approval from the regional director before establishing a credit union branch outside the United States unless the foreign branch is located on a United States military institution or embassy outside the United States.

Dates

Comments will be accepted until September 27, 2013.

Supplementary Information

I. Abstract and Request for Comments NCUA is amending/reinstating the collection for 3133-0167. The collection of information requirement is that any insured credit union must apply for and receive approval from the NCUA Regional Director before establishing a credit union branch outside the United States unless the foreign branch is located on a United States military institution or embassy outside the United States. 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, including conservatorship and liquidation actions. 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: 12 CFR 741.11 of NCUA's Rules and Regulations, Foreign Branching. OMB Number: 3133-0167. Form Number: None. Type of Review: Reinstatement, without change, of a previously approved collection. Description: Section 741.11 contains a provision that any insured credit union must apply for and receive approval from the NCUA Regional Director before establishing a credit union branch outside the United States unless the foreign branch is located on a United States military institution or embassy outside the United States. 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, to include conservatorship and liquidation actions. Estimated No. of Respondents/Recordkeepers: 3. Estimated Burden Hours per Response: 16 hours. Frequency of Response: Reporting and other (one time only). Estimated Total Annual Burden Hours: 48. Estimated Total Annual Cost: $1,488. By the National Credit Union Administration Board on August 22, 2013. Gerard Poliquin, Secretary of the Board. [FR Doc. 2013-20936 Filed 8-27-13; 8:45 am]