[Federal Register Volume 70, Number 98 (Monday, May 23, 2005)]
[Notices]
[Pages 29510-29512]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-10220]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of information collection to be submitted to OMB for 
review and approval under the Paperwork Reduction Act of 1995.

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SUMMARY: In accordance with requirements of the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it 
plans to submit to the Office of Management and Budget (OMB) a request 
for OMB review and approval of the information collection system 
described below.

DATES: Comments must be submitted on or before June 22, 2005.

ADDRESSES: Interested parties are invited to submit written comments. 
All comments should refer to ``Deposit Broker Processing, 3064-0143.'' 
Comments may be submitted by any of the following methods:
     http://www.FDIC.gov/regulations/laws/federal/propose.html.
     E-mail: comments @FDIC.gov. Include ``Deposit Broker 
Processing, 3064-0143'' in the subject line of the message.
     Mail: Leneta G. Gregorie (202-898-3719), Counsel, Room MB-
3082,

[[Page 29511]]

Federal Deposit Insurance Corporation, 550 17th Street, NW., 
Washington, DC 20429.
     Hand Delivery: Comments may be hand-delivered to the guard 
station at the rear of the 17th Street Building (located on F Street), 
on business days between 7 a.m. and 5 p.m.
    A copy of the comments should also be submitted to the OMB desk 
officer for the FDIC: Mark Menchik, Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 3208, Washington, DC 20503, or by electronic mail 
to [email protected].

FOR FURTHER INFORMATION CONTACT: Leneta G. Gregorie at the address 
identified above.

SUPPLEMENTARY INFORMATION: Proposal to revise the following currently 
approved collection of information:
    Title: Deposit Broker Processing.
    OMB Number: 3064-0143.
    Frequency of Response: On occasion.
    Affected Public: Deposit brokers and depositors of failed insured 
institutions.
    Estimated Number of Responses: See chart below.
    Estimated Time per Response: See chart below.
    Estimated Total Annual Burden: 2875 hours.
    General Description of Collection: When an insured institution is 
closed by its primary regulatory authority, the FDIC has the 
responsibility to pay the insured claims of the failed bank depositors 
pursuant to the Federal Deposit Insurance Act and the FDIC's Deposit 
Insurance Coverage regulation, 12 CFR part 330. Generally, deposits are 
insured to a maximum of $100,000. This maximum coverage is based on 
``ownership rights and capacities.'' All deposits that are maintained 
in the same right and capacity are added together and insured up to 
$100,000 in accordance with the regulations relating to deposit 
insurance of that particular deposit insurance ownership category. 
Deposits held in different ownership categories are eligible for 
$100,000 coverage per category. For example, as a general rule, single-
ownership accounts are separately insured from trust accounts held for 
the benefit of others.
    In order to assist the FDIC in paying deposit insurance to persons 
who had deposited funds in a failed depository institution through a 
deposit broker, the FDIC requests deposit brokers who opened a deposit 
account in a failed institution to provide the FDIC with information 
about the parties for whom the broker acted as agent and the amounts of 
their deposits. An essential element of this collection is an 
electronic file from every broker that provides information about its 
customers and their accounts, including: Each customer's name, address, 
tax identification number, and ownership interest in the account; 
principal balance of the account; and interest earned on the account. 
The FDIC also has developed forms to assist in determining account 
ownership and the availability of ``pass-through'' deposit insurance 
coverage where the account balance exceeds $100,000. The FDIC form 
numbers are 7200/03, /04, /05, /06, /07, /08, /09, /10, /11, /12, /13, 
/14, and /15.
    The FDIC uses these same forms to determine whether individual 
account holders at failed institutions may receive pass-through deposit 
insurance coverage. The FDIC's use of these forms for individuals has 
been approved by OMB under PRA control number 3064-0150 (expires 
September 30, 2007).
    In order to facilitate public access to the common forms and to 
improve administrative efficiency, the FDIC proposes to consolidate the 
two OMB approved collections into a single collection titled, ``Forms 
Relating to Processing Deposit Insurance Claims,'' under the 3064-0143 
control number.

                                      Burden Estimate, Deposit Brokers Only
                                       [Frequency of response: occasional]
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                                             Burden per  response        Number of  responses      Burden  hours
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Deposit Broker Submission Checklist.....  5 minutes.................  70........................               6
Diskette, following ``Broker Input File   The burden will vary
 Requirements.''.                          depending on the broker's
                                           number of brokered
                                           accounts.
                                          45 minutes................  53 responses (75% of 70                 40
                                                                       annual responses).
                                          5 hours...................  18 responses (25% of 70                 90
                                                                       annual responses).
Exhibit B, the standard agency            1 minute..................  70........................               1
 agreement, or the non-standard agency
 agreement.
                                         -----------------------------
    Subtotal............................  ..........................  ..........................             137
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                            Burden Estimate, Combined Deposit Brokers and Individuals
                                       [Frequency of response: occasional]
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            Form No.                       Form title                 Hours        Respondents     Burden hours
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7200/03........................  Declaration for Testamentary               .50            1000            500
                                  Deposit (Single Grantor).
7200/04........................  Declaration for Public Unit                .50             500            250
                                  Deposit.
7200/05........................  Declaration for Trust.........             .50            1100            550
7200/06........................  Declaration of Independent                 .50              25             12.5
                                  Activity.
7200/07........................  Declaration of Independent                 .50              25             12.5
                                  Activity for Unincorporated
                                  Association.
7200/08........................  Declaration for Joint                      .50              25             12.5
                                  Ownership Deposit.
7200/09........................  Declaration for Testamentary               .50             500            250
                                  Deposit (Multiple Grantors).
7200/10........................  Declaration for Defined                   1.0               50             50
                                  Contribution Plan.
7200/11........................  Declaration for IRA/KEOGH                  .50              50             25
                                  Deposit.
7200/12........................  Declaration for Defined                   1.0              200            200
                                  Benefit Plan.
7200/13........................  Declaration of Custodian                   .50              50             25
                                  Deposit.
7200/14........................  Declaration for Health and                1.0              200            200
                                  Welfare Plan.

[[Page 29512]]

 
7200/15........................  Declaration for Plan and Trust             .50            1300            650
                                ---------------------------------
    Subtotal...................  ..............................  ..............            5025           2738
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Request for Comment

    Comments are invited on: (a) Whether the collection of information 
is necessary for the proper performance of the FDIC's functions, 
including whether the information has practical utility; (b) the 
accuracy of the estimates of the burden of the information collection, 
including the validity of the methodology and assumptions used; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the information 
collection on respondents, including through the use of automated 
collection techniques or other forms of information technology. All 
comments will become a matter of public record.

    Dated at Washington, DC, this 18th day of May, 2005.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 05-10220 Filed 5-20-05; 8:45 am]
BILLING CODE 6714-01-P