Organization and Operations of Federal Credit Unions - Loan Participation, 12 C.F.R. 701.22

Forms and Documents

Document Name	Status
3133-0141 Supporting Statement.docx Supporting Statement A	2015-12-17

IC Document Collections

IC ID	Document Title	Status
32775	Part 701.22 Organization and Operations of Federal Credit Unions Loan Participation	Removed
219243	IC 3. Appeals Process	New
219242	IC 2. Waiver	New
219235	IC 1. Update Loan Participation Policies	New

ICR Details

OMB Control No: 3133-0141	ICR Reference No: 201504-3133-001
Status: Historical Active	Previous ICR Reference No: 200301-3133-002
Agency/Subagency: NCUA	Agency Tracking No:
Title: Organization and Operations of Federal Credit Unions - Loan Participation, 12 C.F.R. 701.22
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/18/2016
	Date Received in OIRA: 12/17/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2019	36 Months From Approved	02/28/2006
Responses	1,526	0	1,000
Time Burden (Hours)	4,589	0	4,000
Cost Burden (Dollars)	146,344	0	100,000,000

---

Abstract: NCUA Rules and Regulations, sections 701.22 and 741.225, outline the requirements for a loan participation program. FICUs are required to execute a written loan participation agreement with the lead lender. Additionally, the rule requires all FICUs to maintain a loan participation policy that establishes underwriting standards and maximum concentration limits. Credit unions may apply for waivers on certain key provisions of the rule.

---

Authorizing Statute(s): US Code: 12 USC 1751 Name of Law: Federal Credit Union Act
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 52344	08/28/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 76583	12/09/2015
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Part 701.22 Organization and Operations of Federal Credit Unions Loan Participation
IC 2. Waiver
IC 3. Appeals Process
IC 1. Update Loan Participation Policies

---

ICR Summary of Burden

	Total Approved	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	1,526	1,000	0	526	0	0
Annual Time Burden (Hours)	4,589	4,000	0	589	0	0
Annual Cost Burden (Dollars)	146,344	100,000,000	0	-99,853,656	0	0

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The estimated burden has increased since the last OMB application. The current and anticipated number of credit unions conducting loan participations has increased by 515 credit unions because the rule was extended to include FISCUs. The total burden increased by 545 since the last Paperwork Reduction Act filing in 2002.

---

Annual Cost to Federal Government: $3,876

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

---

Common Form ICR:  No

---

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: 12/17/2015

---