View Information Collection Request (ICR) Package

OMB Control No: 3133-0191	ICR Reference No: 201501-3133-002
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: NCUA	Agency Tracking No:
Title: Prompt Corrective Action - Risk-Based Capital
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule	Conclusion Date: 04/09/2015
	Date Received in OIRA: 01/27/2015
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

Abstract: This information will be collected in accordance with proposed amendments to the risk-based capital section of NCUA's Rules and Regulations Part 702 (12 C.F.R. Part 702). The proposed rule would impose new information collection requirements on federally insured credit unions (FICUs). These requirements include the one-time review and updating by all FICUs of internal written policies on capital adequacy and any other internal policies impacted by the requirements of the proposed rule. This information is necessary to ensure a FICU maintains capital commensurate with its risk profile. Section 216 of the Federal Credit Union Act, 12 U.S.C. 1790d, mandates prompt corrective action for FICUs. Section 216(d) of the Act (12 U.S.C. 1790d(d)) addresses the risk-based net worth requirement for complex credit unions. The proposed rule would define a credit union as "complex" if the credit union's quarter-end total assets exceed one hundred million dollars ($100,000,000), as reflected in its most recent Call Report. In addition, section 702.101(b) of the proposed rule would specifically require that a credit union defined as complex have a process for assessing its overall capital adequacy in relation to its risk profile and a comprehensive written strategy for maintaining an appropriate level of capital. In addition, NCUA has determined that the proposed changes to Part 702 would have additional information collection requirements associated with updating data collection and reporting systems for preparing Call Reports. NCUA estimates that all FICUs will have to amend their procedures and systems for preparing Call Reports. However, NCUA will address the burden and provide a separate notice of these changes in other collections, such as the NCUA Call Report and Profile as part of its regular amendments separate from this proposed rule.

Authorizing Statute(s): US Code: 12 USC 1790(d) 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-AD77	Proposed rulemaking	80 FR 4339	01/27/2015

Federal Register Notices & Comments
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Risk Based Capital Written Policy for Non-Complex Credit Unions
Risk-Based Capital Written Policy for Complex Credit Unions

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is a new collection.

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]? No

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: Steve Farrar 703 518-6393

View ICR - OIRA Conclusion