3256 Federal Register / Vol. 80, No. 14 / Thursday, January 22, 2015 / Notices 

extension of a previously approved 

collection 3133–0121. The Federal 

Credit Union Act, 12 U.S.C. 1790a, 

specifically requires all federally 

insured credit unions to notify NCUA at 

least 30 days prior to a change in official 

or senior executive officer if that credit 

union is newly chartered or in troubled 

condition. 

DATES: Comments will be accepted until 

March 23, 2015. 

ADDRESSES: Interested persons are 

invited to submit written comments on 

the information collection to Jessica 

Khouri, National Credit Union 

Administration, 1775 Duke Street, 

Alexandria, Virginia 22314–3428, 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 at the National Credit Union 

Administration, 1775 Duke Street, 

Alexandria, VA 22314–3428, or by 

Email at OCIOPRA@ncua.gov. 

SUPPLEMENTARY INFORMATION: 

I. Abstract and Request for Comments 

NCUA is requesting an extension of 

the previously approved collection for 

3133–0121. The Federal Credit Union 

(FCU) Act specifically requires all 

federally insured credit unions to notify 

NCUA at least 30 days prior to a change 

in official or senior executive officer if 

that credit union is newly chartered or 

in troubled condition. During that 30- 

day period, NCUA can disapprove the 

credit union’s request. Since the last 

submission for 3133–0121, NCUA 

amended 12 CFR 701.14 to redefine 

‘‘troubled condition’’ in relation to 

federally insured state chartered credit 

unions (FISCUs). The revised rule 

redefines a FISCU in ‘‘troubled 

condition’’ to be not only when its state 

supervisory authority (SSA) assigns it a 

‘‘4’’ or ‘‘5’’ composite code rating, but 

also when either its SSA or NCUA 

assigns such a rating. Prior definitions 

of troubled credit unions did not 

include FISCUs rated a code 4 or 5 only 

by NCUA. 

The FCU Act requires notice from the 

insured credit union to include certain 

personal information about the 

individual to determine the individual’s 

fitness for the position. NCUA 

regulation at 12 CFR 701.14 implements 

Section 212. Section 701.14 requires 

that within 10 calendar days of 

receiving the notice, the Regional 

Director must inform the credit union 

either that the notice is complete or that 

additional specified information is 

required to be submitted within 30 

calendar days. Additionally, this section 

requires the Regional Director or 

Director of Office of National 

Examinations and Supervision to issue 

a written decision of approval or 

disapproval to the individual and the 

credit union within 30 calendar days of 

receipt of the notice. Otherwise, the 

individual is approved. NCUA’s 

regulation at 12 CFR 741.205 requires 

federally insured state-chartered credit 

unions to follow section 701.14. 

NCUA’s regulations at 12 CFR part 

747 (Subpart J) sets forth the rights an 

individual or a credit union may 

exercise and procedures to be followed 

in responding to a notice of disapproval 

by NCUA. 

NCUA’s forms 4063 and 4063a 

provide a uniform method for credit 

unions and individuals to submit 

information to NCUA regarding changes 

to officials and senior executive officers. 

NCUA uses the information to 

determine an individual’s fitness for the 

position. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

NCUA requests 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: Change of Officials or Senior 

Executive Officer Forms 

OMB Number: 3133–0121. 

Form Number: NCUA Form 4063 and 

NCUA Form 4063a 

Type of Review: Reinstatement, with 

change, of a previously approved 

collection. 

Description: To comply with statutory 

requirements, the agency must obtain 

sufficient information from new officials 

or senior executive officers of newly 

chartered or troubled credit unions to 

determine the individual’s fitness for 

the position. This is established by the 

Financial Institutions Reform, Recovery, 

and Enforcement Act of 1989. These 

forms standardize the information 

gathered to evaluate the individual’s 

fitness for the position. 

Respondents: Credit unions defined 

as newly chartered or in troubled 

condition and individuals applying for 

senior executive or official positions 

within a credit union defined as newly 

chartered or in troubled condition. 

Estimated No. of Respondents/Record 

keepers: 1,017. 

Estimated Burden Hours per 

Response: 1–2 hours. 

Frequency of Response: Occasionally. 

Estimated Total Annual Burden 

Hours: 1,907 hours. 

Estimated Total Annual Cost: 

$40,692. 

By the National Credit Union 

Administration Board on January 14, 2015. 

Gerard Poliquin, 

Secretary of the Board. 

[FR Doc. 2015–00949 Filed 1–21–15; 8:45 am] 

BILLING CODE 7535–01–P 

NATIONAL CREDIT UNION 

ADMINISTRATION 

Agency Information Collection 

Activities: Extension of a Previously 

Approved Collection; for Prompt 

Corrective Action; Comment Request 

AGENCY: National Credit Union 

Administration (NCUA). 

ACTION: Request for comment. 

SUMMARY: The NCUA intends to submit 

the following proposed collection of 

information to the Office of 

Management and Budget (OMB) for 

review and clearance under the 

Paperwork Reduction Act of 1995 (Pub. 

L. 104–13, 44 U.S.C. Chapter 35). This 

information collection notice is 

published to obtain comments from the 

public. This is related to NCUA’s 

Prompt Corrective Action (PCA) 

regulation. NCUA uses the information 

provided to ensure the purpose of PCA 

is being carried out and that credit 

unions build adequate levels of net 

worth within a reasonable time. 

DATES: Comments will be accepted until 

March 23, 2015. 

ADDRESSES: Interested persons are 

invited to submit written comments on 

the information collection to Jessica 

Khouri, National Credit Union 

Administration, 1775 Duke Street, 

Alexandria, Virginia 22314–3428, Fax 

No. 703–837–2861, Email: OCIOPRA@

ncua.gov 


tkelley on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 80, No. 14 / Thursday, January 22, 2015 / Notices 3257 

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 at the National Credit Union 

Administration, 1775 Duke Street, 

Alexandria, VA 22314–3428, or at 

OCIOPRA@ncua.gov. 

SUPPLEMENTARY INFORMATION: 

I. Abstract and Request for Comments 

NCUA is requesting extension of the 

previously approved collection of 

information related to NCUA’s 

regulation on PCA, 12 CFR part 702 

(Part 702), which provides the 

requirements for PCA for federally 

insured credit unions (FICUs). Section 

216 of the Federal Credit Union Act (12 

U.S.C. 1790d) mandates the 

requirements of PCA. Section 216 

requires the NCUA Board to (1) adopt, 

by regulation, a system of PCA to restore 

the net worth of inadequately 

capitalized FICUs; and (2) develop an 

alternative system of PCA for new credit 

unions that carries out the purpose of 

PCA while allowing reasonable time to 

build net worth to an adequate level. 

Part 702 implements the statutory 

mandate by establishing a system of 

PCA to restore the net worth of 

inadequately capitalized FICUs. To 

achieve this, various information 

collections are required on occasion as 

the circumstances require. 

NCUA requests that you send your 

comments on this information 

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: Prompt Corrective Action, 12 

CFR part 702. 

OMB Number: 3133–0154. 

Form Number: None. 

Type of Review: Extension of a 

previously approved collection. 

Description: Part 702 provides for a 

system of PCA. To comply with Part 

702, a FICU may be subject to reporting 

requirements based on its net worth 

classification. Additionally, the rule 

allows FICUs to request waivers from 

certain requirements to which they may 

otherwise be subject. NCUA uses the 

information provided to ensure the 

purpose of PCA is being carried out and 

that FICUs build adequate levels of net 

worth within a reasonable time. 

Respondents: Federally insured credit 

unions. 

Estimated No. of Respondents: 642 

FICUs. 

Estimated Burden Hours per 

Response: Varies by collection. 

Frequency of Response: On occasion. 

Estimated Total Annual Burden 

Hours: 3,847 hours. 

Estimated Total Annual Cost: 

$122,680.33. 

By the National Credit Union 

Administration Board on January 14, 2015. 

Gerard Poliquin, 

Secretary of the Board. 

[FR Doc. 2015–00972 Filed 1–21–15; 8:45 am] 

BILLING CODE 7535–01–P 

NATIONAL CREDIT UNION 

ADMINISTRATION 

Agency Information Collection 

Activities: Submission for Office of 

Management and Budget Review; 

Comment Request; for Extension of a 

Currently Approved Collection; 

Requirement for Insurance—Interest 

Rate Risk Policy 

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 


tkelley on DSK3SPTVN1PROD with NOTICES