Liquidity and Contingency Funding Plans, 12 CFR 741.12

ICR 202011-3133-004

OMB: 3133-0180

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2021-02-12
ICR Details
3133-0180 202011-3133-004
Received in OIRA 201711-3133-004
NCUA E&I
Liquidity and Contingency Funding Plans, 12 CFR 741.12
Extension without change of a currently approved collection   No
Regular 02/12/2021
  Requested Previously Approved
36 Months From Approved 02/28/2021
5,164 5,696
4,248 4,425
0 0

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

  85 FR 78873 12/07/2020
86 FR 9390 02/12/2021
No

  Total Request 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 5,164 5,696 0 0 -532 0
Annual Time Burden (Hours) 4,248 4,425 0 0 -177 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
This is an extension of a currently approved collection. A reduction of 177 hours is due to an adjustment in the number of credit unions in each category of respondent.

No
    No
    No
No
No
No
No
John Nilles 703 518-1174 [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.
02/12/2021


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