Purchase of Assets and Assumptions of Liabilities, 12 CFR 741.8

ICR 202109-3133-003

OMB: 3133-0169

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2021-11-30
Supplementary Document
2021-11-29
IC Document Collections
IC ID
Document
Title
Status
32825
Modified
ICR Details
3133-0169 202109-3133-003
Received in OIRA 201807-3133-002
NCUA E&I
Purchase of Assets and Assumptions of Liabilities, 12 CFR 741.8
Extension without change of a currently approved collection   No
Regular 11/30/2021
  Requested Previously Approved
36 Months From Approved 11/30/2021
16 7
1,920 840
0 0

In accordance with § 741.8, federally insured credit unions (FICUs) must request approval from the NCUA prior to purchasing assets or assuming liabilities of a privately insured credit union, other financial institution, or their successor interest. A FICU seeking approval must submit a letter to the appropriate Regional Director stating the nature of the transaction, and include copies of relevant transaction documents. Relevant transactions documents may include, but are not limited to: the credit union’s financial statements, strategic plan, and budget, inventory of the assets and liabilities to be transferred, and any relevant contracts or agreements regarding the transfer. NCUA will use the information to determine the safety and soundness of the transaction and risk to the National Credit Union Share Insurance Fund (NCUSIF).

US Code: 12 USC 1785(b) Name of Law: Requirements governing insured credit unions
  
None

Not associated with rulemaking

  86 FR 53352 09/27/2021
86 FR 67500 11/26/2021
No

1
IC Title Form No. Form Name
Purchase of Assets and Assumption of Liabilities

  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 16 7 0 0 9 0
Annual Time Burden (Hours) 1,920 840 0 0 1,080 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
This is an extension of a currently approved collection. An adjustment has been made to provide a more current estimate of the number of respondents reporting from 7 to 16. An increase of 1,080 burden hours is reported; a total of 1,920 burden hours is requested.

$122,598
No
    No
    No
No
No
No
No
Kathryn Metzker 703 518-6360

  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.
11/30/2021


© 2024 OMB.report | Privacy Policy