[Federal Register Volume 79, Number 52 (Tuesday, March 18, 2014)]
[Notices]
[Page 15122]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-05816]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request Re: Retail Foreign Exchange Transactions

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act (PRA) of 1995 (44 U.S.C. chapter 35), the FDIC may not conduct or 
sponsor, and the respondent is not required to respond to, an 
information collection unless it displays a currently valid Office of 
Management and Budget (OMB) control number. As part of its continuing 
effort to reduce paperwork and respondent burden, the FDIC invites the 
general public and other Federal agencies to take this opportunity to 
comment on renewal of its information collection entitled Retail 
Foreign Exchange Transactions (OMB No. 3064-0182). At the end of the 
comment period, any comments and recommendations received will be 
analyzed to determine the extent to which the collection should be 
modified prior to submission to OMB for review and approval.

DATES: Comments must be submitted on or before May 19, 2014.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     http://www.FDIC.gov/regulations/laws/federal/notices.html.
     Email: [email protected]. Include the name of the 
collection in the subject line of the message.
     Mail: Leneta G. Gregorie (202-898-3719), Counsel, Room 
NYA-5050, 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 7:00 a.m. and 5:00 p.m.

All comments should refer to the relevant OMB control number. 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: Leneta Gregorie, at the FDIC address 
above.

SUPPLEMENTARY INFORMATION: Proposal to renew without change the 
following currently approved collections of information:
    Title: Retail Foreign Exchange Transactions.
    OMB Number: 3064-0182.
    Frequency of Response: Event generated.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Estimated Number of Respondents: 3 state nonmember banks; 1 service 
provider.
    Estimated Time per Response: Various, ranging from one to 16 hours.
    Estimated Annual Burden: reporting--48 hours; disclosure--5,326 
hours; recordkeeping--664 hours.
    Total Estimated Annual Burden: 6,038 hours.
    General Description of Collection: FDIC regulations governing 
retail foreign exchange transactions are set forth at 12 CFR Part 349. 
The regulations prescribe appropriate requirements--including 
disclosure, recordkeeping, capital and margin, reporting, business 
conduct, and documentation requirements--for foreign currency futures, 
options on futures, and options that FDIC-supervised institutions 
engage in with retail customers. In addition, the regulations impose 
requirements on other foreign currency transactions that are 
functionally or economically similar, including so called ``rolling 
spot'' transactions that an individual enters into with a foreign 
currency dealer, usually through the internet or other electronic 
platform, to transact in foreign currency.

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 12th day of March, 2014.

    Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2014-05816 Filed 3-17-14; 8:45 am]
BILLING CODE 6714-01-P