Merger Related Compensation, 12 C.F.R. Part 708b, Subpart A

Forms and Documents

Document Name	Status
0024 Supporting Statement2007.doc Supporting Statement A	2007-05-08

IC Document Collections

IC ID	Document Title	Status
32681	Merger Related Compensation, 12 C.F.R. Part 708b, Subpart A	Modified

ICR Details

OMB Control No: 3133-0024	ICR Reference No: 200705-3133-001
Status: Historical Inactive	Previous ICR Reference No: 200408-3133-002
Agency/Subagency: NCUA	Agency Tracking No:
Title: Merger Related Compensation, 12 C.F.R. Part 708b, Subpart A
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Preapproved	Conclusion Date: 07/13/2007
	Date Received in OIRA: 05/08/2007
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2010	36 Months From Approved	01/31/2009
Responses	313	0	303
Time Burden (Hours)	1,565	0	7,530
Cost Burden (Dollars)	0	0	212,000

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Abstract: This rule will require credit unions to disclose to the NCUA and their members the existence of any merger-related compensation arrangements. NCUA will use the information in evaluating whether to approve a proposed merger. Respondents are all federally insured credit unions.

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Authorizing Statute(s): US Code: 12 USC 1766, Section 120 Name of Law: Powers of the Board and Administration personnel
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3133-AD28	Proposed rulemaking	72 FR 20067	04/23/2007

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Merger Related Compensation, 12 C.F.R. Part 708b, Subpart A

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	313	303	0	10	0	0
Annual Time Burden (Hours)	1,565	7,530	0	-5,965	0	0
Annual Cost Burden (Dollars)	0	212,000	0	-212,000	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: On the average for the past five years, there were approximately 313 mergers each year that would be covered by the proposed rule. NCUA estimates that less than one per cent of these mergers will involve merger related financial arrangements as defined in the proposed rule.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 05/08/2007

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