Liquidity and Contingency Funding Plans, 12 CFR 741.12

ICR 201711-3133-004

OMB: 3133-0180

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2018-02-08
Supporting Statement A
2018-02-08
ICR Details
3133-0180 201711-3133-004
Active 201412-3133-004
NCUA E&I
Liquidity and Contingency Funding Plans, 12 CFR 741.12
Extension without change of a currently approved collection   No
Regular
Approved without change 02/22/2018
Retrieve Notice of Action (NOA) 02/13/2018
  Inventory as of this Action Requested Previously Approved
02/28/2021 36 Months From Approved 04/30/2018
5,696 0 6,468
4,425 0 4,749
0 0 151,446

Section 741.12 establishes a three tier framework for FICUs, based on asset size. FICUs with assets under $50 million must maintain a basic policy, those with assets of $50 million and over must maintain a contingency funding plan, and those with assets over $250 million must maintain a contingency funding plan and establish a federal liquidity contingency source. The reviews will conclude if federally insured credit unions are maintaining appropriate liquidity levels for the amount of balance sheet risk exposure and help prevent losses to credit unions and the NCUSIF.

US Code: 12 USC 1757 Name of Law: Federal Credit Union Act
   US Code: 12 USC 1766(a) Name of Law: null
  
None

Not associated with rulemaking

  82 FR 57786 12/07/2017
83 FR 6215 02/13/2018
No

  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 5,696 6,468 0 0 -772 0
Annual Time Burden (Hours) 4,425 4,749 0 0 -324 0
Annual Cost Burden (Dollars) 0 151,446 0 0 -151,446 0
No
No
A reduction of 324 hours is due to an update in the number of credit unions in each category of respondent.

$0
No
    No
    No
No
No
No
Uncollected
Owen Cole 703 518-6621 [email protected]

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
02/13/2018


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