National Credit Union Administration (NCUA).
The National Credit Union Administration (NCUA) Board approved its fiscal year 2002 budget at its November 15, 2002, board meeting. The fiscal year 2002 budget includes several changes to NCUA's central office structure that will reduce costs and improve efficiency at the agency. The changes involve the elimination of some offices and a transfer of the duties of Start Printed Page 30773those offices to either existing offices or the newly created Office of Strategic Program Support and Planning (OSPSP).
This rule is effective May 8, 2002.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Mary Rupp, Staff Attorney, Division of Operations, Office of General Counsel, (703) 518-6540, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428.End Further Info End Preamble Start Supplemental Information
NCUA in conjunction with its fiscal year 2002 budget is restructuring its central office. This restructuring consists of: establishing an OSPSP; transferring the functions of the Office of Investment Services (OIS) and the Director of Strategic Planning (DSP) into OSPSP; transferring the functions of the Office of Administration (OA) to the Office of Chief Information Officer (OCIO), the Office of Public and Congressional Affairs (PACA) and the Office of the Chief Financial Officer (OCFO); and integrating the Office of Training (OTD) into the Office of Human Resources (OHR). The NCUA Board is amending parts 790 and 792 of its regulations, to conform them to the restructured central office. 12 CFR parts 790 and 792.
Final Rule Under the Administrative Procedure Act
The revisions made to this part are not subject to the notice and comment provisions of the Administrative Procedure Act (APA), 5 U.S.C. 551 et seq. The final rule revisions relate only to matters relating to agency management and personnel, topics exempt from APA requirements. 5 U.S.C. 553(a)(2).
NCUA also finds good cause to dispense with the 30-day delayed effective date requirement under sec. 553(d)(3) of the APA. The rule relates only to internal agency procedures and does not affect the public. The rule will, therefore, be effective immediately upon publication of this notice.
Regulatory Flexibility Act
An initial regulatory flexibility analysis under the Regulatory Flexibility Act is required only when an agency is required to publish a general notice of proposed rulemaking for any proposed rule. 5 U.S.C. 603. As noted previously, NCUA has determined that it is unnecessary to publish a notice of proposed rulemaking for this rule. Accordingly, an initial regulatory analysis is not required. Moreover, since this final rule imposes no new requirements and makes only housekeeping amendments, NCUA has determined and certifies that this rule will not have any significant economic impact on a substantial number of small credit unions (primarily those under $1 million in assets).
Small Business Regulatory Enforcement Fairness Act
Title II of the Small Business Regulatory Enforcement Fairness Act (SBREFA) of 1996 (Pub. L. 104-121) provides, generally, for congressional review of agency rules. A reporting requirement is triggered in instances where NCUA issues a final rule as defined by Section 551 of the Administrative Procedures Act. 5 U.S.C. 551. The Office of Management and Budget has reviewed this rule and has determined that for purposes of the Small Business Regulatory Enforcement Fairness Act of 1996 it is not a major rule.
Paperwork Reduction Act
NCUA has determined that the final rule does not increase paperwork requirements under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.) and regulations of the Office of Management and Budget.
Executive Order 13132 Statement
Executive Order 13132 encourages independent regulatory agencies to consider the impact of their regulatory actions on state and local interests. In adherence to fundamental federalism principles, NCUA, an independent regulatory agency as defined in 44 U.S.C. 3502(5), voluntarily complies with the executive order. NCUA has determined that this final rule does not constitute a policy that has federalism implications for purposes of the executive order.Start List of Subjects
List of Subjects
and 792End List of Subjects Start Signature
By the National Credit Union Administration Board on April 29, 2002.
Secretary of the Board.
For the reasons stated in the preamble, NCUA amends 12 CFR chapter VII as set forth below:End Amendment Part Start Part
PART 790—DESCRIPTION OF NCUA; REQUESTS FOR AGENCY ACTIONEnd Part Start Amendment Part
1. The authority citation for part 790 continues to read as follows:End Amendment Part Start Amendment Part
2. Amend § 790.2 as follows:End Amendment Part Start Amendment Part
a. Remove paragraphs (b)(3), and (b)(15);End Amendment Part Start Amendment Part
b. Redesignate paragraphs (b)(4) through (b)(14) as paragraphs (b)(3) through (b)(13) and paragraph (b)(16) as paragraph (b)(14);End Amendment Part Start Amendment Part
c. Add one new sentence to the end of redesignated paragraphs (b)(4), (b)(8), (b)(9) and (b)(11);End Amendment Part Start Amendment Part
d. Add “and carrying out the Board's responsibilities under the Privacy Act” to the end of the last sentence of redesignated paragraph (b)(7); andEnd Amendment Part Start Amendment Part
e. Revise redesignated paragraph (b)(13) as follows:End Amendment Part
(b) * * *
(4) * * * The Director is also responsible for providing NCUA's executive offices and Regional Directors with administrative services, including: agency security; contracting and procurement; management of equipment and supplies; acquisition; printing; and warehousing and distribution.
(8) * * * The Director is also responsible for providing a comprehensive program for the training and development of NCUA's staff, including developing policy consistent with the Government Employees Training Act; providing training opportunities equitably so that all employees have the skills necessary to help meet the agency's mission; evaluating the agency's training and development efforts; and ensuring that the agencies training monies are spent in a cost efficient manner and in accordance with the law.
(9) * * * The Chief Information Officer is also responsible for carrying out the Board's responsibilities under the Paperwork Reduction Act and in directing NCUA responses to reporting requirements.
(11) * * *. The Director is also responsible for providing NCUA's executive offices and Regional Directors with graphics.
(13) Office of Strategic Program Support and Planning. This office is responsible for providing interest rate risk assessment, investment expertise and advice to the Board and agency staff and conducting research and development to assess risk areas of emerging products, delivery systems, infrastructure issues, and investments. The office provides leadership, vision and focus on the internal and external environment related to the development Start Printed Page 30774of the agency's long range planning and implementation of the Government Performance Act of 1993. The office provides a macro view of the industry in a way that can be integrated into the day-to-day program functions. A working relationship is maintained with the financial marketplace to develop resources available to the NCUA and keep abreast of product initiatives. The NCUA Investment Hotline housed in this office is a toll-free number that is available to examiners, credit unions and financial product vendors to ask investment related questions. The Hotline provides NCUA an opportunity to be aware of current investment issues as they arise in credit unions and has permitted NCUA to become proactive, rather than reactive, to such issues. In addition, investment officers advise agency management on the purchase of authorized investments for the NCUSIF and the CLF.
PART 792—REQUESTS FOR INFORMATION UNDER THE FREEDOM OF INFORMATION ACT AND PRIVACY ACT, AND BY SUBPOENA; SECURITY PROCEDURES FOR CLASSIFIED INFORMATIONEnd Part Start Amendment Part
3. The authority citation for part 792 continues to read as follows:End Amendment Part
4. InEnd Amendment Part
5. InEnd Amendment Part
6. In addition to the amendments set forth above, inEnd Amendment Part
a. Section 792.50 (a) and (b); and
b. Section 792.51(a), (b), (c) and (d).
7. InEnd Amendment Part
7. InEnd Amendment Part End Supplemental Information
[FR Doc. 02-11220 Filed 5-7-02; 8:45 am]
BILLING CODE 7535-01-U