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

Forms and Documents

Document Name	Status
FINAL_3133-0040_SS_FinalRule_012617.pdf Supporting Statement A	2017-01-26

IC Document Collections

IC ID	Document Title	Status
208939	Waiver Of Prohibited Transaction	Modified
208938	Waiver Of Requirement To Dispose Of Abandoned Property	Modified
208937	Waiver Of Requirement For Partial Occupation	Modified
208936	Plan For Full Occupation Of Premises	Removed

ICR Details

OMB Control No: 3133-0040	ICR Reference No: 201701-3133-002
Status: Historical Active	Previous ICR Reference No: 201604-3133-004
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: Approved without change	Conclusion Date: 01/26/2018
	Date Received in OIRA: 01/26/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2021	36 Months From Approved	04/30/2019
Responses	28	0	43
Time Burden (Hours)	355	0	580
Cost Burden (Dollars)	0	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	Final or interim final rulemaking	81 FR 93577	12/31/2016

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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

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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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	28	43	0	-15	0	0
Annual Time Burden (Hours)	355	580	0	-225	0	0
Annual Cost Burden (Dollars)	0	18,496	0	-7,175	-11,321	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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The program change resulted in a reduction in overall burden by 225 hours. The 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, removes the need for a waiver.

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Annual Cost to Federal Government: $15,400

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: 01/26/2017

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