Investment and Deposit Activities, 12 CFR Part 703

Forms and Documents

Document Name	Status
FINAL_3133-0133_Supporting Statement_060816.docx Supporting Statement A	2016-06-14
3133-0133_Burden Tables_032216.xlsx Supplementary Document	2016-06-08
Final_12CFR703_SubptB_79FR5228_31JAN14.pdf Supplementary Document	2016-01-25
12CFRpart703_010115.pdf Supplementary Document	2016-01-25

IC Document Collections

IC ID	Document Title	Status
32756	12 CFR 703 - Subpart A - General Investments and Deposit Activties	Modified
219760	12 CFR 703, Subpart B - Derivatives Authority	New

ICR Details

OMB Control No: 3133-0133	ICR Reference No: 201601-3133-002
Status: Historical Active	Previous ICR Reference No: 200709-3133-006
Agency/Subagency: NCUA	Agency Tracking No: E&I
Title: Investment and Deposit Activities, 12 CFR Part 703
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: 08/19/2016
	Date Received in OIRA: 06/14/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2019	36 Months From Approved
Responses	370,181	0	0
Time Burden (Hours)	211,935	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Part 703 of NCUA's regulations outlines the parameters for the investments, deposits, and other obligations in which a Federal Credit Union may invest and the associated reporting and recordkeeping requirements.

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Authorizing Statute(s): US Code: 12 USC 1761b Name of Law: Board of Directors; meetings; powers and duties, etc.
  

Citations for New Statutory Requirements: None

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

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 17740	03/30/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 38738	06/14/2016
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
12 CFR 703 - Subpart A - General Investments and Deposit Activties
12 CFR 703, Subpart B - Derivatives Authority

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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	370,181	0	0	1,022	363,427	5,732
Annual Time Burden (Hours)	211,935	0	0	7,119	-59,713	264,529
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to:

Short Statement: The number of respondents have decreased (Subpart A) due to an adjustment in the number of FCUs, decreasing the total burden and increases in the number of responses are attributed to adjustments to reflect actual program activity. Program changes are attributed to new information collection requires prescribed by Subpart B.

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Annual Cost to Federal Government: $283,444

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

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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: 06/14/2016

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