[Federal Register Volume 74, Number 197 (Wednesday, October 14, 2009)]
[Proposed Rules]
[Pages 52697-52698]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-24822]


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 Proposed Rules
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
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  Federal Register / Vol. 74, No. 197 / Wednesday, October 14, 2009 / 
Proposed Rules  

[[Page 52697]]


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FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 327

RIN 3064-AD09


Assessments: Paperwork Reduction Act Notice

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Notice of proposed rulemaking; supplemental notice.

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SUMMARY: On October 2, 2009, the Federal Deposit Insurance Corporation 
(FDIC) issued a notice of proposed rulemaking with request for comments 
to amend its assessment regulations to require insured institutions to 
prepay, on December 30, 2009, their estimated quarterly risk-based 
assessments for the fourth quarter of 2009, and for all of 2010, 2011, 
and 2012. The FDIC would begin to offset prepaid assessments on March 
30, 2010, representing payment for the fourth quarter of 2009 (see 74 
FR 51063 (Oct. 2, 2009)). The FDIC is supplementing that notice of 
proposed rulemaking with a Paperwork Reduction Act analysis and seeking 
comment on the Paperwork Reduction Act implications of the proposed 
rule.

DATES: Comments on the Paperwork Reduction Act implications of the 
FDIC's Prepaid Assessments proposal must be received on or before 
October 28, 2009.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC concerning the Paperwork Reduction Act implications of this 
proposal. Such comments should refer to ``Exemption Request and 
Transfer Notification, 3064-AD49''. Comments may be submitted by any of 
the following methods:
     Agency Web Site: http://www.fdic.gov/regulations/laws/federal/propose.html. Follow instructions for submitting comments on 
the Agency Web Site.
     E-mail: [email protected]. Include ``Exemption Request and 
Transfer Notification, 3064-AD49'' in the subject line of the message.
     Mail: Robert E. Feldman, Executive Secretary, Attention: 
PRA Comments, Federal Deposit Insurance Corporation, 550 17th Street, 
NW., Washington, DC 20429.
     Hand Delivery/Courier: Guard station at the rear of the 
550 17th Street Building (located on F Street) on business days between 
7 a.m. and 5 p.m.
    All comments received will be posted without change to http://www.fdic.gov/regulations/laws/federal/propose.html including any 
personal information provided. A copy of the comments may also be 
submitted to the OMB desk officer for the FDIC, Office of Information 
and Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Christopher Bellotto, Counsel, Legal 
Division, (202) 898-3801.

SUPPLEMENTARY INFORMATION: In accordance with the Paperwork Reduction 
Act (44 U.S.C. 3501 et seq.) the FDIC may not conduct or sponsor, and a 
person is not required to respond to, a collection of information 
unless it displays a currently valid Office of Management and Budget 
(OMB) control number. The collection of information contained in this 
proposed rule is being submitted to OMB for review.
    Comment is solicited on:
    (1) Whether the proposed collection of information is necessary for 
the proper performance of the functions of the agency, including 
whether the information will have practical utility;
    (2) The accuracy of the agency's estimate of the burden of the 
proposed collection of information, including the validity of the 
methodology and assumptions used;
    (3) The quality, utility, and clarity of the information to be 
collected;
    (4) Ways to minimize the burden of the collection of information on 
those who are to respond, including through the use of appropriate 
automated, electronic, mechanical, or other technological collection 
techniques or other forms of information technology; e.g., permitting 
electronic submission of responses; and
    (5) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchases of services to provide information.
    Summary of the collections: (1) An information collection would 
occur when an insured depository institution applies to the FDIC for an 
exemption from all or part of its assessment prepayment; the 
application would explain why the prepayment would significantly impair 
the institution's liquidity, or would otherwise create significant 
hardship, would contain a full explanation of the need for the 
exemption and include supporting documentation, such as current 
financial statements and cash flow projections, a description of 
management's plans to correct the circumstances that caused the 
inability to pay the assessment, and any other relevant information, 
including any information the FDIC may request. (2) An information 
collection would occur when an insured depository institution enters 
into an agreement to transfer any portion of its prepaid assessment to 
another insured depository institution, and notifies the FDIC's 
Division of Finance of that transaction by submitting a written 
agreement signed by the legal representatives of both institutions, 
including documentation that each representative has the legal 
authority to bind the institution.

1. Application for Exemption

    Need and Use of the Information: Exemption requests would 
supplement the FDIC's exercise of its discretion as supervisor and 
insurer to exempt an institution from the prepayment requirement if the 
FDIC determines that the prepayment would adversely affect the safety 
and soundness of that institution.
    Respondents: Insured depository institutions.
    Number of responses: 30-200 by the December 1, 2009 deadline.
    Frequency of response: Once.
    Average number of hours to prepare a response: 8 hours.
    Total annual burden: 240-1,600 hours for one-time exemption 
request.

2. Transfer of Prepaid Assessments

    Need and use of the information: Institutions would be required to 
notify the FDIC of the transfer of prepaid assessments so that the FDIC 
can accurately track these transfers, and apply available prepaid 
assessments appropriately against institutions' deposit insurance 
assessments. The need for credit transfer information

[[Page 52698]]

would expire when the prepaid assessments have been exhausted or when 
remaining prepaid assessments are returned to the institution after 
December 30, 2014.
    Respondents: Insured depository institutions.
    Number of responses: 75 during the first year; 25 the second year 
and 10 in the final year.
    Frequency of response: Occasional.
    Average number of hours to prepare a response: 2 hours.
    Total annual burden: 150 hours the first year; 50 hours the second 
year; and 20 hours in the third year.

    By order of the Board of Directors.

    Dated at Washington, DC, this 9th day of October 2009.

Federal Deposit Insurance Corporation.

Robert E. Feldman,
Executive Secretary.
[FR Doc. E9-24822 Filed 10-9-09; 4:15 pm]
BILLING CODE 6714-01-P