Skip to main content
An official website of the United States government
The .gov means it's official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.
The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Search:
Agenda
Reg Review
ICR
This script is used to control the display of information in this page.
Display additional information by clicking on the following:
All
Brief and OIRA conclusion
Abstract/Justification
Legal Statutes
Rulemaking
FR Notices/Comments
IC List
Burden
Misc.
Common Form Info.
Certification
View Information Collection (IC) List
View Supporting Statement and Other Documents
Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3133-0129
ICR Reference No:
200911-3133-001
Status:
Historical Inactive
Previous ICR Reference No:
200611-3133-001
Agency/Subagency:
NCUA
Agency Tracking No:
Title:
Corporate Credit Unions
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Comment filed on proposed rule
Conclusion Date:
06/27/2010
Retrieve Notice of Action (NOA)
Date Received in OIRA:
02/03/2010
Terms of Clearance:
Note that the change in burden is due to adjusting the agency estimate, not program actions by the agency. I have edited. Moreover, for the line of business, consider "Economic development" and "financial sector oversight."
Inventory as of this Action
Requested
Previously Approved
Expiration Date
36 Months From Approved
06/30/2010
Responses
0
0
31
Time Burden (Hours)
0
0
75,454
Cost Burden (Dollars)
0
0
1,937,996
Abstract:
Proposed revisions to rule governing corporate credit union capital requirements, investment activities, asset-liability management, credit union service organization activities, and corporate governance requirements. Part 704 of NCUA's Rules and Regulations directs corporate credit unions to maintain records concerning their activities.
Authorizing Statute(s):
US Code:
12 USC 1762, 1766(a), 1781, & 1789
Name of Law: Federal Credit Union Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3133-AD58
Proposed rulemaking
74 FR 65209
12/09/2009
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Corporate Credit Unions
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:
Miscellaneous Actions
Short Statement:
NCUA developed the proposal in response to the devastating impact that the current economic and financial crisis affecting the country has had on the corporate credit union system. Requiring new capital standards and the development of capital restoration plans to address and implement them, as well as imposing new requirements concerning the accumulation of retained earnings, are of paramount importance in assuring that corporate credit unions operate in a safe and sound condition, as are the other conditions pertaining to capital. Change in burden has occurred due to change in agency estimate based upon the number of corporate credit unions decreasing from previous submission of 31 to a current total of 28 corporate credit unions.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
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]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Ross Kendall 703 518-6540 rkendall@ncua.gov
Common Form ICR:
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:
(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:
02/03/2010
An official website of the United States government
The .gov means it's official.
The site is secure.
