Federal Credit Union Occupancy, Planning, and Disposal of Acquired and Abandoned Premises (12 CFR 701.36)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
3133-0040_SS_ProposedRule_042716_Final.docx	Supporting Statement A	Uploaded 2016-04-27	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
208939	Waiver Of Prohibited Transaction		Unchanged
208938	Waiver Of Requirement To Dispose Of Abandoned Property		Unchanged
208937	Waiver Of Requirement For Partial Occupation		Unchanged
208936	Plan For Full Occupation Of Premises		Removed

ICR Details

OMB Control No: 3133-0040	ICR Reference No: 201604-3133-004
Status: Historical Inactive	Previous ICR Reference No: 201509-3133-002
Agency/Subagency: NCUA	Agency Tracking No: E&I
Title: Federal Credit Union Occupancy, Planning, and Disposal of Acquired and Abandoned Premises (12 CFR 701.36)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 07/28/2016
	Date Received in OIRA: 04/27/2016
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2019	36 Months From Approved	04/30/2019
Responses	43	0	43
Time Burden (Hours)	580	0	580
Cost Burden (Dollars)	18,496	0	18,496

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Abstract: Section 107(4) of the Federal Credit Union Act authorizes a federal credit union (FCU) to purchase, hold, and dispose of property necessary or incidental to its operations. Section 701.36 of NCUA Rules and Regulations interprets and implements this provision of the FCU Act by establishing occupancy, planning, and disposal requirements for acquired and abandoned premises. It also prohibits certain transactions. In addition, this section includes provisions in which an FCU may seek a waiver from certain requirements of the rule. NCUA reviews written waiver requests and makes a determination on the request based on safety and soundness considerations.

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Authorizing Statute(s): US Code: 12 USC 1751 Name of Law: FCU Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3133-AE54	Proposed rulemaking	81 FR 24738	04/27/2016

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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: 3

table that charts list of burden

IC Title	Form No.	Form Name
Plan For Full Occupation Of Premises
Waiver Of Requirement To Dispose Of Abandoned Property
Waiver Of Requirement For Partial Occupation
Waiver Of Prohibited Transaction

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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: The proposed rule will result in a reduction in overall burden attributed to a program change. The proposed removal of the provision of §701.36, which required a plan for full occupancy if a federal credit union cannot fully occupy a premises acquired for future expansion within one year, will reduce the estimated burden by 225 hours.

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Annual Cost to Federal Government: $15,400

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: 04/27/2016

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