[Federal Register Volume 84, Number 21 (Thursday, January 31, 2019)]
[Notices]
[Pages 715-716]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-00559]
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0111]
Agency Information Collection Activities: Submission for OMB
Review; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The FDIC, as part of its obligations under the Paperwork
Reduction Act of 1995, invites the general public and other Federal
agencies to take this opportunity to comment on the renewal of the
existing information collection described below (3064-0111). On
November 2, 2018, the FDIC requested comment for 60 days on a proposal
to renew the information collection 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 this collection, and again invites
comment on this renewal.
DATES: Comments must be submitted on or before March 4, 2019.
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.
Email: [email protected]. Include the name and number of
the collection in the subject line of the message.
Mail: Jennifer Jones (202-898-6768), Counsel, MB-3105,
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: Jennifer Jones, Counsel, 202-898-6768,
[email protected], MB-3105, Federal Deposit Insurance Corporation, 550
17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION: On November 2, 2018, the FDIC requested
comment for 60 days on a proposal to renew the information collection
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
this collection, and again invites comment on this renewal.
Proposal to renew the following currently approved collection of
information:
1. Title: Activities and Investments of Insured State Banks.
OMB Number: 3064-0111.
Form Number: None.
Affected Public: Insured state nonmember banks and insured state
savings associations.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated Total annual
Information Collection (IC) Type of burden Obligation to number of number of Estimated time Frequency of estimated
description respond respondents responses per response response burden hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
Activities and Investments of Reporting........ Mandatory........ 23 1 8.00 On Occasion...... 184.00
Insured State Banks.
----------------------------------------------------------------------------------
Total Hourly Burden........ ................. ................. .............. .............. .............. ................. 184.00
--------------------------------------------------------------------------------------------------------------------------------------------------------
General Description of Collection:
Section 24 of the Federal Deposit Insurance (FDI Act), 12 U.S.C.
1831a, limits investments and other activities in which state banks may
engage, as principal, to those permissible for national banks and those
approved by the FDIC under procedures set forth in part 362 of the
FDIC's Rules and Regulations, 12 CFR part 362. With certain exceptions,
section 24 of the FDI Act limits the activities and investments of
state banks to those activities and investments that are permissible
for national banks. In addition, the statute
[[Page 716]]
prohibits a state bank from directly engaging, as a principal, in any
activity or investment that is not permissible for a national bank, or
indirectly through a subsidiary in an activity or investment that is
not permissible for a subsidiary of a national bank, unless such bank
meets its minimum capital requirements and the FDIC determines that the
activity or investment does not pose a significant risk to the Deposit
Insurance Fund (DIF). The FDIC can make such a determination for
exception by regulation or by order. Section 28(a), 12 U.S.C. 1831e,
similarly limits the investments and activities of state savings
associations and their service corporations to those permitted by
federal savings associations and their service corporations, absent
FDIC approval. Part 362 details the activities that state banks or
their subsidiaries may engage in, under certain criteria and conditions
and identifies the information that state banks must furnish to the
FDIC in order to obtain the FDIC's approval or non-objection. Part 362
also applies to the activities and investments of state savings
associations and their subsidiaries.
There is no change in the method or substance of the collection.
The overall reduction in burden hours is the result of economic
fluctuation. In particular, the number of respondents has decreased
while the hours per response and frequency of responses have remained
the same.
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 January 28, 2019.
Federal Deposit Insurance Corporation.
Valerie Best,
Assistant Executive Secretary.
[FR Doc. 2019-00559 Filed 1-30-19; 8:45 am]
BILLING CODE 6714-01-P