Purchase, Sale, and Pledge of Eligible Obligations - 12 CFR 701.23

Forms and Documents

Document	Type	Status	Availability
12CFR701-23_(1-1-17 ED).pdf	Supplementary Document	Uploaded 2017-08-01	Available
3133-0127_Supporting Statement_Amended_FINAL_080117.docx	Supporting Statement A	Uploaded 2017-08-01	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
222167	Appeal to NCUA Board		New
222166	Written Request for Approval of Expanded Authority		New
222148	Written Incentive and Bonus Policy		New
222147	Written Agreement and Schedule in Credit Union Office When Pledging Eligible Obligations		New
222146	Original Loan Documents for Pledged Obligations		New
222145	Written Agreement and Schedule in Sellers Office		New
222143	Written approval to Purchase Eligible Obligations of a Liquidating Credit Union		New
222142	Written Agreement and Schedule in Puchasers Office		New
154766	Written Policy on Purchase, Sale, or Pledge of Eligible Obligations		Modified

ICR Details

OMB Control No: 3133-0127	ICR Reference No: 201606-3133-010
Status: Historical Active	Previous ICR Reference No: 199007-3133-003
Agency/Subagency: NCUA	Agency Tracking No: E&I
Title: Purchase, Sale, and Pledge of Eligible Obligations - 12 CFR 701.23
Type of Information Collection: Reinstatement without change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/26/2018
Retrieve Notice of Action (NOA)	Date Received in OIRA: 06/28/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2021	36 Months From Approved
Responses	38,332	0	0
Time Burden (Hours)	10,540	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Section 701.23 authorizes Federal Credit Unions to sell and pledge loans and purchase eligible obligations from other institutions.

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Authorizing Statute(s): US Code: 12 USC 1757 Name of Law: Federal Credit Union Act
  

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 22649	04/18/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 42005	06/28/2016
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

IC Title	Form No.	Form Name
Appeal to NCUA Board
Original Loan Documents for Pledged Obligations
Written Agreement and Schedule in Credit Union Office When Pledging Eligible Obligations
Written Agreement and Schedule in Puchasers Office
Written Agreement and Schedule in Sellers Office
Written Incentive and Bonus Policy
Written Policy on Purchase, Sale, or Pledge of Eligible Obligations
Written Request for Approval of Expanded Authority
Written approval to Purchase Eligible Obligations of a Liquidating Credit Union

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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	38,332	0	0	0	26,832	11,500
Annual Time Burden (Hours)	10,540	0	0	0	-59,660	70,200
Annual Cost Burden (Dollars)	0	0	0	0	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: No

Burden Reduction Due to:

Short Statement: Burden changed to reflect current activity in the industry. Burden also reflects combination with another previously approved information collection request that will be discontinued upon approval of this collection.

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Annual Cost to Federal Government: $44,370

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 06/28/2016

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