View Information Collection Request (ICR) Package

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View ICR - OIRA Conclusion

OMB Control No: 3133-0133	ICR Reference No: 202105-3133-002
Status: Historical Active	Previous ICR Reference No: 202009-3133-010
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: 07/19/2021
	Date Received in OIRA: 05/27/2021
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2024	36 Months From Approved	10/31/2022
Responses	176,364	0	175,350
Time Burden (Hours)	54,501	0	53,959
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion	Change Due to Adjustment in Estimate
Annual Number of Responses	176,364	175,350	947	67
Annual Time Burden (Hours)	54,501	53,959	254	288
Annual Cost Burden (Dollars)	0	0	0	0

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: The NCUA anticipates more FCUs to engage in derivatives, which would increase the recordkeeping requirement under §§703.105 and 703.106(c). Section 703.108(a) provides for FCUs the meet certain requirements to provide notification of its readiness to engage in derivatives in lieu of an application. An increase is estimated in the number of FCUs that would engage and does not anticipate any change in the number of FCUs that will require an application under §703.108(b). It is estimated that program changes to the information collection requirements associated with this rule increases the burden by 254 hours. Adjustments to the information collection burden is also being made to include information collection requirements not 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 increase the burden by 288 hours.

Annual Cost to Federal Government: $283,444

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

Agency Contact: Rick Mayfield 703 518-6501 rmayfield@ncua.gov

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