[Federal Register Volume 82, Number 143 (Thursday, July 27, 2017)]
[Notices]
[Pages 34946-34949]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-15711]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request (3064-0092; -0149 & -0182)

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to take this opportunity to comment on the renewal of existing 
information collections, as required by the Paperwork Reduction Act of 
1995. On May 17, 2017, the FDIC requested comment for 60 days on a 
proposal to renew the information collections described below. No 
comments were received. The FDIC hereby gives notice of its plan to 
submit to OMB a request

[[Page 34947]]

to approve the renewal of these collections, and again invites comment 
on this renewal.

DATES: Comments must be submitted on or before August 28, 2017.

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 and number of 
the collection in the subject line of the message.
     Mail: Manny Cabeza (202-898-3767), Counsel, MB-3007, 
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: Manny Cabeza, (202-898-3767), Counsel, 
MB-3007, Federal Deposit Insurance Corporation, 550 17th Street NW., 
Washington, DC 20429.

SUPPLEMENTARY INFORMATION: 

Proposal To Renew the Following Currently Approved Collections of 
Information

    1. Title: Community Reinvestment Act.
    OMB Number: 3064-0092.
    Form Number: None.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

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                                                                                                        Total
                                                                           Estimated     Average      estimated
     Source and type of burden                   Description               number of    estimated      annual
                                                                          respondents    time per      burden
                                                                                         response      (hours)
----------------------------------------------------------------------------------------------------------------
345.25(b) Reporting................  Request for designation as a                   1            4             4
                                      wholesale or limited purpose bank--
                                      Banks requesting this designation
                                      shall file a request in writing
                                      with the FDIC at least 3 months
                                      prior to the proposed effective
                                      date of the designation.
345.27 Reporting...................  Strategic plan--Applies to banks               7          400         2,800
                                      electing to submit strategic plans
                                      to the FDIC for approval.
345.42(b)(1) Reporting.............  Small business/small farm loan             * 393            8         3,144
                                      data--Large banks shall and Small
                                      banks may report annually in
                                      machine readable form the
                                      aggregate number and amount of
                                      certain loans.
345.42(b)(2) Reporting.............  Community development loan data--          * 393           13         5,109
                                      Large banks shall and Small banks
                                      may report annually, in machine
                                      readable form, the aggregate
                                      number and aggregate amount of
                                      community development loans
                                      originated or purchased.
345.42(b)(3) Reporting.............  Home mortgage loans--Large banks,          * 393          253        99,429
                                      if subject to reporting under part
                                      203 (Home Mortgage Disclosure
                                      (HMDA)), shall, and Small banks
                                      may report the location of each
                                      home mortgage loan application,
                                      origination, or purchase outside
                                      the MSA in which the bank has a
                                      home/branch office.
345.42(d) Reporting................  Data on affiliate lending--Banks             200           38         7,600
                                      that elect to have the FDIC
                                      consider loans by an affiliate,
                                      for purposes of the lending or
                                      community development test or an
                                      approved strategic plan, shall
                                      collect, maintain and report the
                                      data that the bank would have
                                      collected, maintained, and
                                      reported pursuant to Sec.
                                      345.42(a), (b), and (c) had the
                                      loans been originated or purchased
                                      by the bank. For home mortgage
                                      loans, the bank shall also be
                                      prepared to identify the home
                                      mortgage loans reported under HMDA.
345.42(e) Reporting................  Data on lending by a consortium or            75           17         1,275
                                      a third party--Banks that elect to
                                      have the FDIC consider community
                                      development loans by a consortium
                                      or a third party, for purposes of
                                      the lending or community
                                      development tests or an approved
                                      strategic plan, shall report for
                                      those loans the data that the bank
                                      would have reported under Sec.
                                      345.42(b)(2) had the loans been
                                      originated or purchased by the
                                      bank.
345.42(g) Reporting................  Assessment area data--Large banks          * 393            2           786
                                      shall and Small banks may collect
                                      and report to the FDIC a list for
                                      each assessment area showing the
                                      geographies within the area.
                                                                         ---------------------------------------
    Total Reporting................  ...................................  ...........  ...........       120,147
345.42(a) Recordkeeping............  Small business/small farm loan             * 393          219        86,067
                                      register--Large banks shall and
                                      Small banks may collect and
                                      maintain certain date in machine-
                                      readable form.
345.42(c) Recordkeeping............  Optional consumer loan data--All              75          326        24,450
                                      banks may collect and maintain in
                                      machine readable form certain data
                                      for consumer loans originated or
                                      purchased by a bank for
                                      consideration under the lending
                                      test..
345.42(c)(2) Recordkeeping.........  Other loan data--All banks                   100           25         2,500
                                      optionally may provide other
                                      information concerning their
                                      lending performance, including
                                      additional loan distribution data.
                                                                         ---------------------------------------
    Total Recordkeeping............  ...................................  ...........  ...........       113,017

[[Page 34948]]

 
345.41(a) 345.43(a); (a)(1);         Content and availability of public         3,971           10        39,710
 (a)(2); (a)(3); (a)(4); (a)(5);      file--All banks shall maintain a
 (a)(6); (a)(7); (b)(1); (b)(2);      public file that contains certain
 (b)(3); (b)(4); (b)(5); (c); (d)     required information.
 Disclosure.
                                                                         ---------------------------------------
    Total Disclosure...............  ...................................  ...........  ...........        39,710
                                                                         ---------------------------------------
        Total Estimated Annual       ...................................  ...........  ...........      272,874
         Burden.
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* The number of Large Banks reporting decreased from 253 to 243. However, 150 Small Banks are voluntarily
  collecting and reporting data, and the number of respondents has been adjusted to reflect this.

    General Description of Collection: The Community Reinvestment Act 
regulation requires the FDIC to assess the record of banks and thrifts 
in helping meet the credit needs of their entire communities, including 
low- and moderate-income neighborhoods, consistent with safe and sound 
operations; and to take this record into account in evaluating 
applications for mergers, branches, and certain other corporate 
activities.
    There is no change in the method or substance of the collection. 
The overall increase in burden hours is a result of an increase in the 
number of Small Banks electing to voluntarily respond in certain 
categories. The increase is also, in small part, due to an adjustment 
in the agency's estimate of the time required to submit strategic plan 
applications from 275 hours per respondent to 400 hours per respondent.
    2. Title: Affiliate Marketing Consumer Opt-Out Notices.
    OMB Number: 3064-0149.
    Form Number: None.
    Affected Public: Insured state nonmember banks, state savings 
associations that have affiliates and consumers that have a 
relationship with the foregoing.
    Burden Estimate:

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                                                                                                       Total
                                          Estimated        Estimated time per      Frequency of      estimated
            Type of burden                number of             response             response      annual burden
                                         respondents                                                  (hours)
----------------------------------------------------------------------------------------------------------------
Implementation.......................           \1\ 8  18 hours.................               1             144
Ongoing..............................         \2\ 990  2 hours..................               1           1,980
Consumer Opt-Out.....................     \3\ 857,027  5 minutes................               1          71,419
                                      --------------------------------------------------------------------------
    Total Estimated Annual Burden....  ..............  .........................  ..............         73,543
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\1\ According to data from the Federal Reserve's National Information Center (NIC), there were 3,063 FDIC
  supervised institutions with an affiliate as of March 31st, 2017. This is an increase of 23 institutions from
  March 31st, 2014, which had 3,040 institutions with affiliates. Based on the research and NIC data, it is
  reasonable to estimate that the population of institutions with affiliates will continue to grow by
  approximately 23 institutions over the next three years. Thus, FDIC anticipates approximately 8 institutions
  per year will have an implementation burden.
\2\ The number of respondents facing ongoing burden remains unchanged at 990.
\3\ The FDIC estimates that 95.4% of the 990 banks impacted by this information collection are community banks
  having an average of 12,098 consumers and the remaining 4.6% are non-community (larger) banks having an
  average of 124,745 consumers. The FDIC estimates that 5% of the 17,140,540 estimated consumers at these 990
  institutions (857,027 consumers) elect to Opt-Out of affiliate marketing information sharing.

    General Description of Collection: Section 214 of the FACT Act 
requires financial institutions that wish to share information about 
consumers with their affiliates, to inform such consumers that they 
have the opportunity to opt out of such marketing solicitations. The 
disclosure notices and consumer responses thereto comprise the elements 
of this collection of information.
    There is no change in the method or substance of this information 
collection. There has been a net increase in the estimated total annual 
burden primarily because of an upward adjustment in the agency's 
estimate of the number of consumers at FDIC-supervised institutions 
that elect to opt-out of affiliate marketing information sharing. The 
increase in burden due to the adjustment in the estimated number of 
consumers affected was offset by the fact that most banks have 
completed the implementation phase of the information collection; the 
estimated ongoing time per response for most affected institutions 
decreasing from 18 hours at implementation to 2 hours ongoing.
    3. Title: Retail Foreign Exchange Transactions.
    OMB Number: 3064-0182.
    Form Number: None.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

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                                                                                                Total  estimated
           Type of burden                Number of    Estimated time    Frequency of response     annual burden
                                        respondents    per response                                  (hours)
----------------------------------------------------------------------------------------------------------------
Reporting...........................               1              16  On Occasion.............                16

[[Page 34949]]

 
Recordkeeping.......................               1             166  On Occasion.............               166
Disclosure..........................               1           1,332  On Occasion.............             1,332
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    Total Estimated Annual Burden...  ..............  ..............  ........................             1,514
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    General Description of Collection: This information collection 
implements section 742(c)(2) of the Dodd-Frank Act (7 U.S.C. 2(c)(2)(E) 
and FDIC regulations governing retail foreign exchange transactions as 
set forth at 12 CFR part 349, subpart B. The regulation allows banking 
organizations under FDIC supervision to engage in off-exchange 
transactions in foreign currency with retail customers provided they 
comply with various reporting, recordkeeping and third-party disclosure 
requirements specified in the rule. If an institution elects to conduct 
such transactions, compliance with the information collection is 
mandatory.
    Reporting Requirements--Part 349, subpart B requires that, prior to 
initiating a retail foreign exchange business; a banking institution 
must provide the FDIC with a notice certifying that the institution has 
written policies and procedures, and risk measurement and management 
systems and controls in place to ensure that retail foreign exchange 
transactions are conducted in a safe and sound manner. The institution 
must also provide information about it intends to manage customer due 
diligence, new product approvals and haircuts applied to noncash 
margin.
    Recordkeeping Requirements--Part 349 subpart B requires that 
institutions engaging in retail foreign exchange transactions keep 
full, complete and systematic records of account, financial ledger, 
transaction, memorandum orders and post execution allocations of 
bunched orders. In addition, institutions are required to maintain 
records regarding their ratio of profitable accounts, possible 
violations of law, records of noncash margin and monthly statements and 
confirmations issued.
    Disclosure Requirements--The regulation requires that, before 
opening an account that will engage in retail foreign exchange 
transactions, a banking institution must obtain from each retail 
foreign exchange customer an acknowledgement of receipt and 
understanding of a written disclosure specified in the rule and of 
disclosures about the banking institution's fees and other charges and 
of its profitable accounts ratio. The institution must also provide 
monthly statements to each retail foreign exchange customer and must 
send confirmation statements following every transaction. The customer 
dispute resolution provisions of the regulation require certain 
endorsements, acknowledgements and signature language as well as the 
timely provision of a list of persons qualified to handle a customer's 
request for arbitration.
    There is no change in the method or substance of the collection. At 
present no FDIC-supervised institution is engaging in activities that 
would make them subject to the information collection requirements. 
FDIC originally estimated that 3 institutions would be impacted by the 
rule. The agency is reducing the estimated number of respondents to one 
(1) as a placeholder in case an institution elects to engage in covered 
activities in the future. There has been no change in the frequency of 
response or in the estimated number of hours required to respond. 
Because of the reduction in the estimated number of respondents from 
three (3) to one (1), the estimated annual burden has decreased.

Request for Comment

    Comments are invited on: (a) Whether the collections of information 
are 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 collections, 
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 collections of 
information 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 21st day of July, 2017.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2017-15711 Filed 7-26-17; 8:45 am]
 BILLING CODE 6714-01-P