Liquidity and Contingency Funding Plans, 12 CFR 741.12

Forms and Documents

Document Name	Status
12CFR741-12 (1-1-17 ED).pdf Supplementary Document	2018-02-08
FINAL_3133-0180_SS_020818.docx Supporting Statement A	2018-02-08

IC Document Collections

IC ID	Document Title	Status
192990	Small Credit Unions under $50 million in assets	Modified
192989	Mid -Size Credit Unions between $50 million - $250 million	Modified
192986	Large Credit Unions with Over $250 Million in assets	Modified

ICR Details

OMB Control No: 3133-0180	ICR Reference No: 201711-3133-004
Status: Active	Previous ICR Reference No: 201412-3133-004
Agency/Subagency: NCUA	Agency Tracking No: E&I
Title: Liquidity and Contingency Funding Plans, 12 CFR 741.12
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/22/2018
	Date Received in OIRA: 02/13/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2021	36 Months From Approved	04/30/2018
Responses	5,696	0	6,468
Time Burden (Hours)	4,425	0	4,749
Cost Burden (Dollars)	0	0	151,446

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Abstract: Section 741.12 establishes a three tier framework for FICUs, based on asset size. FICUs with assets under $50 million must maintain a basic policy, those with assets of $50 million and over must maintain a contingency funding plan, and those with assets over $250 million must maintain a contingency funding plan and establish a federal liquidity contingency source. The reviews will conclude if federally insured credit unions are maintaining appropriate liquidity levels for the amount of balance sheet risk exposure and help prevent losses to credit unions and the NCUSIF.

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Authorizing Statute(s): US Code: 12 USC 1757 Name of Law: Federal Credit Union Act
   US Code: 12 USC 1766(a) Name of Law: null
  

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:
	82 FR 57786	12/07/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 6215	02/13/2018
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Small Credit Unions under $50 million in assets
Large Credit Unions with Over $250 Million in assets
Mid -Size Credit Unions between $50 million - $250 million

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ICR Summary 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	5,696	6,468	0	0	-772	0
Annual Time Burden (Hours)	4,425	4,749	0	0	-324	0
Annual Cost Burden (Dollars)	0	151,446	0	0	-151,446	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: A reduction of 324 hours is due to an update in the number of credit unions in each category of respondent.

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Annual Cost to Federal Government: $0

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? Uncollected

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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: 02/13/2018

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