[Federal Register Volume 83, Number 92 (Friday, May 11, 2018)]
[Notices]
[Pages 22061-22064]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-10093]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request (OMB No. 3064-0006; -0015; -0019; and -0097)

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 the 
existing

[[Page 22062]]

information collection, as required by the Paperwork Reduction Act of 
1995. On March 1, 2018, 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 to approve the renewal of these collections, 
and again invites comment on these renewals.

DATES: Comments must be submitted on or before June 11, 2018.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     Agency Website: https://www.FDIC.gov/regulations/laws/federal. Follow the instructions for submitting comments on the FDIC 
website.
     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 applicable 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, Counsel, 202-898-3767, 
[email protected], MB-3007, Federal Deposit Insurance Corporation, 550 
17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION: The FDIC proposes to implement a number of 
revisions to currently-approved information collections, based on the 
recommendations of an interagency working group comprised of 
representatives from the FDIC, the Board of Governors of the Federal 
Reserve System, and the Office of the Comptroller of the Currency, who 
collaborated to recommend the proposed changes. The proposed changes 
are being made to: (a) Improve the clarity of the requests; (b) reflect 
new laws, regulations, capital requirements and accounting rules; (c) 
delete information requests that have been determined to be unnecessary 
for the analysis of the filing; and (d) add transparency for filers 
regarding the information that is required to consider a filing. In 
determining which changes to propose, the FDIC surveyed its regional 
offices to solicit recommendations for changes to the forms and 
considered the effects of the changes on community bank organizations, 
which represent the majority of filers. The revisions add items to 
these forms to clarify the information being requested to avoid the 
need for follow-up requests. Requesting the information up-front should 
increase transparency for filers as well as improve the efficiency of 
the submission and review process.
    The FDIC is proposing to revise and request a three-year extension 
of the following currently-approved collections of information:
    1. Title: Interagency Biographical and Financial Report.
    OMB Number: 3064-0006.
    Type: Revision of a currently approved collection.
    Form: Interagency Biographical and Financial Report.
    Form Number: 6200/06.
    Affected Public: Individuals or households; business or other for 
profit; Insured state nonmember banks and state savings associations.
    Estimated Number of Annual Respondents: 574.
    Estimated Time per Response: 4.5 hours.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 2,583 hours.
    General Description of Collection: The Interagency Biographical and 
Financial Report is submitted to the FDIC by: (1) Each individual 
director, officer, or individual or group of shareholders acting in 
concert that will own or control 10 percent or more, of a proposed or 
operating depository institution applying for FDIC deposit insurance; 
(2) a person proposing to acquire control of an insured state nonmember 
bank, state savings association (FDIC-supervised institution) and 
certain parent companies of such entities; (3) each proposed new 
director or proposed new chief executive officer of an FDIC-supervised 
institution which has undergone a change in control within the 
preceding twelve months; and (4) each proposed new director or senior 
executive officer of an FDIC-supervised institution that is not in 
compliance with all minimum capital requirements, is in troubled 
condition, or otherwise is required to provide such notice. The 
information collected is used by the FDIC to evaluate the general 
character and financial condition of individuals who will be involved 
in the management or control of financial institutions, as required by 
statute. In order to lessen the burden on applicants, the FDIC 
cooperates with the other federal banking agencies to the maximum 
extent possible in processing the various applications.
    Proposed Revisions: The proposed changes for the Interagency 
Biographical and Financial Report include additional requested items 
relating to information that generally was previously requested as 
supplemental information subsequent to the filing of the initial 
application; clarification of exact requirements of certain requests; 
deletion of certain requested items that the FDIC no longer believes 
are helpful in evaluating the notice; and other minor changes for 
improved grammar, comprehension, and accurate citations and mailing 
addresses. Because a filer may require some additional time to 
incorporate supplemental documentation, particularly in connection with 
the requested description of pending legal and related matters, the 
FDIC estimates that the proposed revisions will result in an additional 
half an hour of reporting burden for each filer. Accordingly, the 
estimated time per response is being increased from 4 hours to 4.5 
hours. The proposed revised ``Interagency Biographical and Financial 
Report'' form and a redlined version highlighting the proposed 
revisions from the currently-approved form may be reviewed by the 
public at https://www.FDIC.gov/regulations/laws/federal.
    2. Title: Interagency Bank Merger Act Application.
    OMB Number: 3064-0015.
    Type: Revision of a currently approved collection.
    Form: Interagency Bank Merger Act Application.
    Form Number: 6220/01.
    Affected Public: Individuals or households; business or other for 
profit.
    Estimated Burden:

[[Page 22063]]



                                                Estimated Burden
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                                           Number of                                                   Total
                                            annual        Frequency of response      Hours per       estimated
                                          respondents                                response      annual hours
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Affiliate.............................             134  On Occasion.............              19           2,546
Nonaffiliate..........................             162  On Occasion.............              31           5,022
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    Total.............................             296  ........................  ..............           7,568
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    General Description of Collection: The Interagency Bank Merger Act 
Application form is used by the FDIC, the Board of Governors of the 
Federal Reserve System, and the Office of the Comptroller of the 
Currency for applications under section 18(c) of the Federal Deposit 
Insurance Act (FDIA), as amended (12 U.S.C. 1828(c)). The application 
is used for a merger, consolidation, or other combining transaction 
between nonaffiliated parties as well as to effect a corporate 
reorganization between affiliated parties (affiliate transaction). An 
affiliate transaction refers to a merger transaction or other business 
combination (including a purchase and assumption) between institutions 
that are commonly controlled (for example, between a depository 
institution and an affiliated interim institution). There are different 
levels of burden for nonaffiliate and affiliate transactions. 
Applicants proposing affiliate transactions are required to provide 
less information than applicants involved in the merger of two 
unaffiliated entities. If depository institutions are not controlled by 
the same holding company, the merger transaction is considered a 
nonaffiliate transaction.
    Proposed Revisions: The proposed changes to the Interagency Bank 
Merger Act Application form include additional items relating to 
information that was previously requested as supplemental information 
subsequent to the filing of the initial application; clarification of 
certain requested items related to biographical and financial 
information for principals and to Community Reinvestment Act-related 
information; deletion of the request for cash flow projections for the 
parent company; updated requests to account for statutory 
considerations related to the effect of a transaction on the stability 
of the United States financial system; changes to capital requirements 
and accounting rules; and other minor changes to improve grammar and 
readability, provide accurate citations to authority, and update 
mailing addresses. As a result of the revisions described above, 
applicants may need to provide additional financial information, 
describe pending litigation and investigations, and summarize the 
effects of a proposed transaction on financial stability. For this 
reason, the FDIC estimates that the proposed revisions will result in 
an additional hour of burden for each applicant. Accordingly, the 
estimated times per response are being increased from 18 to 19 hours 
for affiliate transactions and 30 to 31 hours for nonaffiliate 
transactions. The proposed revised ``Interagency Bank Merger Act 
Application'' form and a redlined version highlighting the proposed 
revisions from the currently-approved form may be reviewed by the 
public at https://www.FDIC.gov/regulations/laws/federal.
    3. Title: Interagency Notice of Change in Control.
    OMB Number: 3064-0019.
    Type: Revision of a currently approved collection.
    Form: Interagency Notice of Change in Control.
    Form Number: 6822/01.
    Affected Public: Individuals, insured state nonmember banks, and 
insured state savings associations.
    Estimated Number of Annual Respondents: 25.
    Estimated Time per Response: 30.5 hours.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 763 hours.
    General Description of Collection: Section 7(j) of the FDIA (12 
U.S.C. 1817(j)) and sections 303.80-88 of the FDIC Rules and 
Regulations (12 CFR 303.80 et seq.) require that any person proposing 
to acquire control of an insured depository institution and certain 
parent companies thereof provide 60 days prior written notice of the 
proposed acquisition to the appropriate federal banking agency. Such 
written notice which pertains to the acquisition of control of an FDIC-
supervised institution and certain parent companies thereof is filed 
with the regional director of the FDIC region in which the bank is 
located. The FDIC reviews the information reported in the Notice to 
assess, in part, any anticompetitive and monopolistic effects of the 
proposed acquisition, to determine if the financial condition of any 
acquiring person or the future prospects of the institution might 
jeopardize the financial stability of the institution or prejudice the 
interests of the depositors of the institution, and to determine 
whether the competence, experience, or integrity of any acquiring 
person, or of any of the proposed management personnel, indicates that 
it would not be in the interest of the depositors of the institution, 
or in the interest of the public, to permit such persons to control the 
bank. The FDIC must also make an independent determination of the 
accuracy and completeness of all of the information required to be 
filed in conjunction with a Notice.
    Proposed Revisions: The proposed changes for the Interagency Notice 
of Change in Control form include additional requested items relating 
to information that generally was previously requested as supplemental 
information subsequent to the filing of the initial application; 
clarification of exact requirements of certain requests; deletion of 
certain requested items that the FDIC no longer believes are helpful in 
evaluating the Notice; and other minor changes for improved grammar, 
comprehension, and accurate citations and mailing addresses. Because 
certain applicants may need additional time to complete the requested 
breakdowns of voting and nonvoting securities, and stock options and 
warrants that were previously requested by the agencies later in the 
process, and to include a narrative description of the proposed 
transaction, the FDIC estimates that the proposed revisions would 
require an additional half an hour of burden for each respondent. 
Accordingly, the estimated time per response is being increased from 30 
hours to 30.5 hours. The proposed revised ``Interagency Notice of 
Change in Control'' form and a redlined version highlighting the 
proposed revisions from the currently-approved form may be reviewed by 
the public at https://www.FDIC.gov/regulations/laws/federal.
    4. Title: Interagency Notice of Change in Director or Senior 
Executive Officer.
    OMB Number: 3064-0097.

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    Type: Revision of a currently approved collection.
    Form: Interagency Notice of Change in Director or Senior Executive 
Officer.
    Form Number: 6822/02.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Estimated Number of Annual Respondents: 325.
    Estimated Time per Response: 2 hours.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 650 hours.
    General Description of Collection: Section 32 of the FDIA (12 
U.S.C. 1831i) requires an insured depository institution or depository 
institution holding company under certain circumstances to notify the 
appropriate federal banking agency of the proposed addition of any 
individual to the board of directors or the employment of any 
individual as a senior executive officer of such institution at least 
30 days before such addition or employment becomes effective. Section 
32 of the FDIA also provides that the FDIC may disapprove an 
individual's service as a director or senior executive officer of 
certain state nonmember banks or state savings associations if, upon 
assessing the individual's competence, experience, character, and 
integrity, it is determined that the individual's service would not be 
in the best interest of the depositors of the institution or the 
public. The Interagency Notice of Change in Director or Senior 
Executive Officer, with the information contained in the Interagency 
Biographical and Financial Report (described above) as an attachment, 
is used by the FDIC to collect information relevant to assess the 
individual's competence, experience, character, and integrity.
    Proposed Revisions: The proposed changes for the Interagency Notice 
of Change in Director or Senior Executive Officer form include 
clarifications of existing information requested and exceptions to the 
extent they may be relied upon by applicants; deletion of certain 
formerly requested items that are no longer needed to evaluate the 
notice; and other minor changes for improved grammar, comprehension, 
and accurate citations and mailing addresses. The FDIC believes these 
revisions will not change the estimated time per response. The proposed 
revised ``Interagency Notice of Change in Director or Senior Executive 
Officer'' form and a redlined version highlighting the proposed 
revisions from the currently-approved form may be reviewed by the 
public at https://www.FDIC.gov/regulations/laws/federal.

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 May 8, 2018.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2018-10093 Filed 5-10-18; 8:45 am]
 BILLING CODE 6714-01-P