[Federal Register Volume 83, Number 85 (Wednesday, May 2, 2018)]
[Notices]
[Pages 19284-19285]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-09325]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0124]


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request

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 an 
existing information collection, as required by the Paperwork Reduction 
Act of 1995 (PRA). Currently, the FDIC is soliciting comment on renewal 
of the information collection described below.

DATES: Comments must be submitted on or before July 2, 2018.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     https://www.FDIC.gov/regulations/laws/federal.

[[Page 19285]]

     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 OMB control number 3064-0124. 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, Counsel, 202-898-3767, 
[email protected], MB-3007, Federal Deposit Insurance Corporation, 550 
17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION: Proposal to renew the following currently 
approved collection of information:
    Title: Notification of Change of Insured Status.
    OMB Number: 3064-0124.
    Form Number: None.
    Affected Public: Insured depository institutions.
    Burden Estimate:

                                                                Summary of Annual Burden
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                                                                                                                                           Average total
                                                                                      Estimated    Estimated time                             annual
                                         Type of burden     Obligation to respond     number of     per response   Frequency of response     estimated
                                                                                     respondents       (hours)                            burden (hours)
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Certification......................  Reporting............  Mandatory............             150             .25  On Occasion..........            37.5
Notification.......................  Disclosure...........  Mandatory............               2               1  On Occasion..........               3
                                                                                  ----------------------------------------------------------------------
    Total Estimated Annual Burden..  .....................  .....................  ..............  ..............  .....................            39.5
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    General Description of Collection: This information collection 
consists of two parts: (1) A certification that insured depository 
institutions provide the FDIC when all deposit liabilities from one 
insured depository institution are assumed from another insured 
depository institution, with the latter institution responsible for 
providing the certification; and (2) a notification that an insured 
depository institution provides to its depositors when it seeks to 
voluntarily terminate its insured status. The certification is 
necessary to implement the provisions of section 8(q) of the Federal 
Deposit Insurance Act, 12 U.S.C. 1818(q), regarding termination of the 
insured status of the transferring institution and termination of the 
separate deposit insurance coverage provided on deposit accounts 
assumed by the assuming institution. The depositor notification is 
required by section 8(a)(6) of the Federal Deposit Insurance Act, 12 
U.S.C. 1818(a)(6). This provision ensures that the institution's 
depositors receive appropriate information regarding the institution's 
intent to terminate its insured status and that, prior to the 
termination of the institution's insured status, depositors receive 
appropriate information concerning federal deposit insurance coverage 
of their accounts once the institution's insured status is terminated.
    There is no change in the methodology or substance of this 
information collection. The number of certifications submitted under 
this information collection is closely related to the number of insured 
depository institutions that are acquired by another depository 
institution through mergers or as a result of the closing of the 
institution by its chartering authority. The number of depositor 
notifications is driven by the number of institutions that elect to 
voluntarily terminate its insured status without having its deposits 
assumed by another insured depository institution. The change in burden 
is due to economic fluctuation reflected in a lower number of 
certifications following mergers or closures and a reduction in the 
number of notifications due to voluntary terminations of insured 
status.
    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 collection 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, on April 27, 2018.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2018-09325 Filed 5-1-18; 8:45 am]
 BILLING CODE 6714-01-P