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###### National Credit Union Administration

# AGENCY:

National Credit Union Administration (NCUA).

# ACTION:

Request for comment.

# SUMMARY:

NCUA is announcing that a proposed collection of information has been submitted to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (PRA) (Pub. L. 104-13, 44 U.S.C. Chapter 35). The purpose of this notice is to allow for 30 days of public comment. Federally insured credit unions with more than $50 million in assets are required to have a written interest rate risk (IRR) policy and an effective IRR management program as a condition for insurance of accounts. The information collection is currently authorized under OMB Control Number 3133-0184. The information collection allows NCUA to determine whether a credit union's financial condition and policies regarding interest rate risk are both safe and sound and meet the requirements for insurance of accounts.

# DATES:

Comments will be accepted until February 23, 2015.

# ADDRESSES:

                        Interested persons are invited to submit comments to: (i) Desk Officer for the National Credit Union Administration, 3133-0184, U.S. Office of Management and Budget, 725 17th Street NW., #10102, Washington, DC 20503, or by email to:                         *oirasubmission@omb.eop.gov*; and (ii) Jessica Khouri by mail at the National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428, by fax at Fax No. 703-837-2861, or by email at                         *OCIOPRA@ncua.gov.*

# FOR FURTHER INFORMATION CONTACT:

                        Requests for additional information, a copy of the information collection request, or a copy of submitted comments should be directed to Jessica Khouri by mail at the National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428, by fax at Fax No. 703-837-2861, or by email at                         *OCIOPRA@ncua.gov.*

# SUPPLEMENTARY INFORMATION:

## I. Abstract and Request for Comments

Section 741.3(b)(5) of NCUA Rules and Regulations (12 CFR 741.3(b)(5)) requires federally insured credit unions with more than $50 million in assets to have a written IRR policy and an effective IRR management program as a condition for insurance. In the appendix, the rule also provides guidance on how to establish an IRR policy and an effective program.

                    In the                     **Federal Register**                     of November 5, 2014 (79 FR 65711), NCUA published a 60-day notice requesting public comment on the proposed collection of information. NCUA received no comments.                

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number.

                    NCUA requests that you send your comments on the information collection requirements to the locations 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                           ( print page 3258)                        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:*                     Requirement for Insurance—Interest Rate Risk Policy.                

*OMB Number:*                     3133-0184.                

*Form Number:*                     None.                

*Type of Review:*                     Extension of a currently approved collection.                

*Description:*                     Section 741.3(b)(5) of NCUA Rules and Regulations (12 CFR 741.3(b)(5)) requires federally insured credit unions with more than $50 million in assets to have a written IRR policy and an effective IRR management program as a condition for insurance. NCUA uses the information to evaluate credit unions' compliance with the rule and to determine credit unions' risk tolerances and consistency with their business strategies.                

*Respondents:*                     Federally insured credit unions with assets of more than $50 million.                

*Estimated No. of Respondents/Record keepers:*                     225.                

*Frequency of Response:*                     Once, then annual review.                

*Estimated Burden Hours per Response:*                     16.                

*Estimated Total Annual Burden Hours:*                     3,600.                

*Estimated Total Annual Cost:*                     None.                

By the National Credit Union Administration Board on January 14, 2015.

Gerard Poliquin,

Secretary of the Board.

[FR Doc. 2015-00975 Filed 1-21-15; 8:45 am]

BILLING CODE 7535-01-P