THE RULE REQUIRES THAT CREDIT UNIONS
ADOPT SPECIFIC BUSINESS LOAN POLICIES AND REVIEW THEM ANNUALLY. THE
GENERAL PURPOSE OF THE REQUIREMENT IS TO ENSURE THAT LOANS ARE
MADE, DOCUMENTED AND ACCOUNTED FOR PROPERLY AND FOR THE ULTIMATE
PROTECTION OF THE NATIONAL CREDIT UNION SHARE INSURANCE FUND.
RESPONDENTS ARE FEDERALLY INSURED CREDIT UNIONS MAKING BUSINESS
LOANS AS DEFINED IN THE REGULATION.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.