Investment and Deposit Activities, 12 CFR Part 703

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
SS_3133-0133_Derivatives_6.11.24.docx	Supporting Statement A	Uploaded 2024-06-14	Repair queued
12CFR703_(1-1-20 ED).pdf	Supplementary Document	Uploaded 2020-12-17	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
32756	12 CFR 703 - Subpart A - General Investments and Deposit Activties		Modified
219760	12 CFR 703, Subpart B - Derivatives Authority		Modified

ICR Details

OMB Control No: 3133-0133	ICR Reference No: 202406-3133-003
Status: Active	Previous ICR Reference No: 202105-3133-002
Agency/Subagency: NCUA	Agency Tracking No: E&I Final
Title: Investment and Deposit Activities, 12 CFR Part 703
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: 09/26/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 06/25/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2027	36 Months From Approved	09/30/2024
Responses	153,238	0	176,364
Time Burden (Hours)	50,059	0	54,501
Cost Burden (Dollars)	0	0	0

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Abstract: The National Credit Union Administration (NCUA) Federal Credit Union Act, 12 U.S.C. 1757(7), 1757(8), 1757(15), lists securities, deposits, and other obligations in which a Federal Credit Union (FCU) may invest. The regulations related to these areas are contained in Part 703 and Section 721.3 of the NCUA Rules and Regulations which set forth requirements related to maintaining an adequate investment program. The information collected is used by the NCUA to determine compliance with the appropriate sections of the NCUA Rules and Regulations and Federal Credit Union Act, which governs investment and deposit activities on the basis of safety and soundness concerns. It is used to determine the level of risk that exists within a credit union, the actions taken by the credit union to mitigate such risk, and helps prevent losses to federal credit unions and the National Credit Union Share Insurance Fund (NCUSIF).

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Authorizing Statute(s): US Code: 12 USC 1761b Name of Law: Board of Directors; meetings; powers and duties, etc.
  

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:
	89 FR 16035	03/06/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 51909	06/20/2024
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
12 CFR 703 - Subpart A - General Investments and Deposit Activties
12 CFR 703, Subpart B - Derivatives Authority

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ICR Summary of Burden

table that charts list 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	153,238	176,364	0	0	-23,126	0
Annual Time Burden (Hours)	50,059	54,501	0	0	-4,442	0
Annual Cost Burden (Dollars)	0	0	0	0	0	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: Adjustments to the information collection burden is being made to remove information collection requirements that were previously captured, remove duplicate burden, and update respondents and response times to reflect a more accurate and up-to-date accounting of the burden. Adjustments to the information collection requirements will decrease the total annual burden by 4,442 hours.

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Annual Cost to Federal Government: $281,176

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? No

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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: 06/25/2024

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