12 CFR 741.11, Foreign Branching

Forms and Documents

Document Name	Status
12CFR741-11(1-1-16 ED).pdf Supplementary Document	2017-06-06
FINAL_3133-0167_SS_Amended060617.doc Supporting Statement A	2017-06-06

IC Document Collections

IC ID	Document Title	Status
32823	Foreign Branching	Modified

ICR Details

OMB Control No: 3133-0167	ICR Reference No: 201612-3133-001
Status: Historical Active	Previous ICR Reference No: 201308-3133-019
Agency/Subagency: NCUA	Agency Tracking No: E&I
Title: 12 CFR 741.11, Foreign Branching
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 07/17/2017
	Date Received in OIRA: 12/06/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2020	36 Months From Approved	07/31/2017
Responses	1	0	3
Time Burden (Hours)	32	0	48
Cost Burden (Dollars)	0	0	1,488

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Abstract: This collection covers the additional information a credit union must provide to establish a branch office outside the United States (except for U.S. embassies and military installations). This is a three step process (1) The credit union must receive written approval from the host country to establish a branch, (2) The credit union must develop a detailed business plan, and (3) The credit union must submit documentation showing host country approval, state regulatory approval (if applicable), and the business plan to NCUA and receive NCUA approval before establishing the branch office. There are no formal applications to complete.

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Authorizing Statute(s): US Code: 12 USC 1751 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 65674	09/23/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 87595	12/05/2016
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
Foreign Branching

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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	1	3	0	0	-2	0
Annual Time Burden (Hours)	32	48	0	0	-16	0
Annual Cost Burden (Dollars)	0	1,488	0	0	-1,488	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 estimates were adjusted to better reflect the actual frequency with which credit unions establish branches outside of United States territory. In actual practice, this does not happen. However, NCUA seeks to maintain an active control number in the event that a credit union seeks to exercise this option.

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Annual Cost to Federal Government: $1,900

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: 12/06/2016

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