Federal Register / Vol. 79, No. 214 / Wednesday, November 5, 2014 / Notices 65711 

NATIONAL CREDIT UNION 

ADMINISTRATION 

Agency Information Collection 

Activities: Request for comments for 

Extension of a Currently Approved 

Collection; Request for Comment 

AGENCY: National Credit Union 

Administration (NCUA). 

ACTION: Notice of request for comment. 

SUMMARY: NCUA intends to submit the 

following information collection to the 

Office of Management and Budget 

(OMB) for renewal under the Paperwork 

Reduction Act of 1995 (Public Law 104– 

13, 44 U.S.C. Chapter 35). This 

information collection notice is 

published to obtain comments from the 

public. 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, 

which expires on February 28, 2015. 

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 

January 5, 2015. 

ADDRESSES: Interested persons are 

invited to submit written comments on 

the information collection to Amanda 

Wallace, National Credit Union 

Administration, 1775 Duke Street, 

Alexandria, Virginia 22314–3428, Fax 

No. 703–837–2861, Email: 

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 

Amanda Wallace 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 

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 an appendix, 

the rule also provides guidance on how 

to establish an IRR policy and an 

effective program. 

Guidance specifies that policies 

should cover the following areas: 

• Identify committees, persons or 

other parties responsible for review of 

the credit union’s IRR exposure; 

• Direct appropriate actions to ensure 

management takes steps to manage IRR 

so that IRR exposures are identified, 

measured, monitored, and controlled; 

• State the frequency with which 

management will report on 

measurement results to the board to 

ensure routine review of information 

that is timely (e.g., current and at least 

quarterly) and in sufficient detail to 

assess the credit union’s IRR profile; 

• Set risk limits for IRR exposures 

based on selected measures (e.g., limits 

for changes in repricing or duration 

gaps, income simulation, asset 

valuation, or net economic value); 

• Choose tests, such as interest rate 

shocks, that the credit union will 

perform using the selected measures; 

• Provide for periodic review of 

material changes in IRR exposures and 

compliance with board approved policy 

and risk limits; 

• Provide for assessment of the IRR 

impact of any new business activities 

prior to implementation (e.g., evaluate 

the IRR profile of introducing a new 

product or service); and 

• Provide for annual evaluation of 

policy to determine whether it is still 

commensurate with the size, 

complexity, and risk profile of the credit 

union. 

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 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. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the Paperwork Reduction Act 

unless it displays a currently valid OMB 

control number. 

II. Data 

Title: Requirement for Insurance— 

Interest Rate Risk Policy, 12 CFR 

741.3(b)(5). 

OMB Number: 3133—0184. 

Form Number: None. 

Type of Review: Extension with 

change of a currently approved 

collection. 

Description: 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/ 

Recordkeepers: 225. 

Estimated No. of Responses: 225. 

Frequency of Response: Once, then 

annual review. 

Estimated Time per Response: 16 

hours. 

Estimated Total Annual Burden: 3,600 

hours. 

By the National Credit Union 

Administration Board on October 30, 2014. 

Gerard Poliquin, 

Secretary of the Board. 

[FR Doc. 2014–26220 Filed 11–4–14; 8:45 am] 

BILLING CODE 7535–01–P 

NATIONAL CREDIT UNION 

ADMINISTRATION 

Agency Information Collection 

Activities: Request for Comments for 

Extension of a Previously Approved 

Collection; Comment Request 

AGENCY: National Credit Union 

Administration (NCUA). 

ACTION: Request for comment. 

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 

(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 

regulation that prohibits, in certain 

circumstances, a federally insured credit 

union (FICU) from making golden 

parachute and indemnification 

payments to an institution-affiliated 

party (IAP). 

DATES: Comments will be accepted until 

January 5, 2015. 

ADDRESSES: Interested persons are 

invited to submit written comments on 

the information collection to Amanda 

Wallace, National Credit Union 

Administration, 1775 Duke Street, 

Alexandria, Virginia 22314–3428, Fax 

No. 703–837–2861, Email: OCIOPRA@

ncua.gov. 

mstockstill on DSK4VPTVN1PROD with NOTICES

65712 Federal Register / Vol. 79, No. 214 / Wednesday, November 5, 2014 / Notices 

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 

Amanda Wallace 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 extending a previously 

approved collection of information for 

12 CFR Part 750, Golden Parachute and 

Indemnification Payments. Part 750 is 

NCUA’s regulation that prohibits, in 

certain circumstances, a FICU from 

making golden parachute and 

indemnification payments to an IAP. 

The collection of information 

requirement applies to troubled FICUs 

seeking approval to make a severance or 

golden parachute payment to an IAP. 

Specifically, § 750.6 requires requests 

for an FICU to make nondiscriminatory 

severance plan payments under 

§ 750.1(e)(2)(v) and golden parachute 

payments permitted by § 750.4 to be 

submitted in writing to NCUA. 

In NCUA’s experience, FICU requests 

to make severance and golden parachute 

payments within the scope of the rule 

do not occur often. NCUA estimates 

that, as of June 30, 2014, there are 6,429 

FICUs. Of those, there were 278 problem 

FICUs with CAMEL 4 or 5 ratings. Of 

those, 229 FICUs had less than $50 

million in total assets and an additional 

22 FICUs had less than $100 million in 

total assets. These smaller FICUs are 

unlikely to seek NCUA approval to 

make severance or golden parachute 

payments because these payments are 

more typically seen in the executive 

compensation of larger, more complex 

FICUs. Of the remaining 27 larger 

problem FICUs, NCUA anticipates no 

more than 20 percent would seek NCUA 

approval to make a severance or golden 

parachute payment. Accordingly, NCUA 

estimates that on an annual basis and 

across all FICUs, only approximately 

five FICUs will need to solicit NCUA 

approval in advance of making a 

severance or golden parachute payment 

within the scope of the rule and that 

preparing the request for approval may 

take four hours. Five FICUs times four 

hours per respondent equals 20 annual 

burden hours. 

NCUA requests that you send your 

comments on the information collection 

requirements under part 750 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 

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: Golden Parachute and 

Indemnification Payments, 12 CFR Part 

750. 

OMB Number: 3133–0183. 

Form Number: None. 

Type of Review: Extension of a 

previously approved collection. 

Description: Part 750 is NCUA’s 

regulation prohibit, in certain 

circumstances, a FICU from making 

golden parachute and indemnification 

payments to an IAP. The collection of 

information requirement only affects 

troubled FICUs seeking approval to 

make a severance or golden parachute 

payment to an IAP. Specifically, § 750.6 

requires requests for an FICU to make 

nondiscriminatory severance plan 

payments under § 750.1(e)(2)(v) and 

golden parachute payments permitted 

by § 750.4 to be submitted in writing to 

NCUA. 

Respondents: Federally insured credit 

unions. 

Estimated No. of Respondents: 5. 

Frequency of Response: Upon request. 

Estimated Burden Hours per 

Response: 4 hours. 

Estimated Total Annual Burden 

Hours: 20. 

Estimated Total Annual Cost: $800. 

By the National Credit Union 

Administration Board on October 30, 2014. 

Gerard Poliquin, 

Secretary of the Board. 

[FR Doc. 2014–26219 Filed 11–4–14; 8:45 am] 

BILLING CODE 7535–01–P 

NUCLEAR REGULATORY 

COMMISSION 

[Docket No. 52–039; NRC–2008–0603] 

PPL Bell Bend, LLC; Combined 

License Application for Bell Bend 

Nuclear Power Plant 

AGENCY: Nuclear Regulatory 

Commission. 

ACTION: Exemption; issuance. 

SUMMARY: The U.S. Nuclear Regulatory 

Commission (NRC) is issuing an 

exemption in a response to a September 

24, 2014, letter from PPL Bell Bend, LLC 

(PPL), which requested an exemption 

from Final Safety Analysis Report 

(FSAR) updates included in their 

Combined License (COL) application. 

The NRC staff reviewed this request and 

determined that it is appropriate to 

grant the exemption, but stipulated that 

the updates to the FSAR must be 

submitted prior to, or coincident with, 

the resumption of the COL application 

safety review or by December 31, 2015, 

whichever comes first. 

DATE: The exemption is effective on 

November 5, 2014. 

ADDRESSES: Please refer to Docket ID 

NRC–2008–0603 when contacting the 

NRC about the availability of 

information regarding this document. 

You may access publicly-available 

information related to this document 

using any of the following methods: 

• Federal Rulemaking Web site: Go to 

http://www.regulations.gov and search 

for Docket ID NRC–2008–0603. Address 

questions about NRC dockets to Carol 

Gallagher; telephone: 301–287–3422; 

email: Carol.Gallagher@nrc.gov. For 

technical questions, contact the 

individual listed in the FOR FURTHER

INFORMATION CONTACT section of this 

document. 

• NRC’s Agencywide Documents 

Access and Management System 

(ADAMS): You may obtain publiclyavailable documents online in the 

ADAMS Public Documents collection at 

http://www.nrc.gov/reading-rm/

adams.html. To begin the search, select 

‘‘ADAMS Public Documents’’ and then 

select ‘‘Begin Web-based ADAMS 

Search.’’ For problems with ADAMS, 

please contact the NRC’s Public 

Document Room (PDR) reference staff at 

1–800–397–4209, 301–415–4737, or by 

email to pdr.resource@nrc.gov. The 

ADAMS accession number for each 

document referenced in this document 

(if that document is available in 

ADAMS) is provided the first time that 

a document is referenced. 

• NRC’s PDR: You may examine and 

purchase copies of public documents at 

the NRC’s PDR, Room O1–F21, One 

White Flint North, 11555 Rockville 

Pike, Rockville, Maryland 20852. 

FOR FURTHER INFORMATION CONTACT: 

Michael Takacs, Office of New Reactors, 

U.S. Nuclear Regulatory Commission, 

Washington, DC 20555–0001; telephone: 

301–415–7871; email: Michael.Takacs@

nrc.gov. 

SUPPLEMENTARY INFORMATION: 

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