[Federal Register Volume 84, Number 182 (Thursday, September 19, 2019)]
[Notices]
[Pages 49298-49302]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-20216]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Submission for OMB
Review; Comment Request (OMB No. 3064-0046; -0113; -0169; -0174; and -
0191)
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Agency information collection activities: Submission for OMB
review; comment request.
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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 collections described below. On July 12, 2019, the
FDIC requested comment for 60 days on a proposal to renew these
information collections. No comments were received. The FDIC hereby
gives notice of its plan to submit to OMB a request to approve the
renewal of these information collections, and again invites comment on
their renewal.
DATES: Comments must be submitted on or before October 21, 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: Manny Cabeza (202-898-3767), Regulatory Counsel, MB-
3128, 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, Regulatory Counsel, 202-
898-3767, [email protected], MB-3128, Federal Deposit Insurance
Corporation, 550 17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION: On July 12, 2019, 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 collection, and again invites \1\ comment on their renewal.
Proposal To Renew the Following Currently Approved Collections of
Information
1. Title: Home Mortgage Disclosure (HMDA).
OMB Control Number: 3064-0046.
Form Number: None.
Affected Public: Insured state nonmember banks.
Burden Estimate:
Summary of Annual Burden
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Total
Estimated Estimated Estimated estimated
Information collection (IC) Type of burden Obligation to number of number of time per Frequency of annual
description respond respondents responses response response burden
(minutes) (hours)
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Full Data Set
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Home Mortgage Disclosure.......... Reporting........... Mandatory........... 650 1,400 5 On Occasion......... 75,833
Recordkeeping....... Mandatory........... 650 1,400 5 On Occasion......... 75,833
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[[Page 49299]]
Partial Data Set
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Home Mortgage Disclosure.......... Recordkeeping....... Mandatory........... 1,200 200 2.5 On Occasion......... 10,000
Reporting........... Mandatory........... 1,200 200 2.5 On Occasion......... 10,000
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Total Estimated Annual Burden .................... .................... ........... ........... ........... .................... \2\ 171,667
Hours.
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General Description of Collection: The Board of Governors of the
Federal Reserve System promulgated Regulation C, 12 CFR part 203, to
implement the Home Mortgage Disclosure Act (HMDA), 12 U.S.C. 2801-2810.
Regulation C requires depository institutions that meet its asset-size
threshold to maintain data about home loan applications (the type of
loan requested, the purpose of the loan, whether the loan was approved,
and the type of purchaser if the loan was later sold), to update the
information quarterly, and to report the information annually. The Home
Mortgage Disclosure Act and Regulation C now come under the authority
of the Consumer Financial Protection Bureau (CFPB).
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\2\ The one-hour difference in the Total Estimated Annual Burden
Hours is due to rounding.
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Pursuant to Regulation C, insured state-nonmember banks supervised
by the FDIC with assets over a certain dollar threshold must collect,
record, and report data about home loan applications.\3\ For 2017
transactions, 1,865 FDIC-supervised institutions reported under HMDA;
1,217 of these institutions were small entities.4 5 For
transactions beginning in 2018, the set of data fields to be reported
under HMDA was expanded. Institutions that meet certain criteria are
partially exempt from reporting certain data fields.\6\ To estimate the
number of Full and Partial filers for 2018, subject matter experts
(SMEs) in the Division of Consumer Protection (DCP) examined 2016 and
2017 data collected under HMDA, as well as preliminary data for 2018.
Results from this analysis indicate that for 2018 data, there were
roughly 650 and 1,200 respondents to the Full and Partial reporting
requirements of this information collection, respectively. The
frequency of responses was estimated by taking the total number of Full
and Partial disclosure filings and dividing that number by the number
of respondents.\7\
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\3\ Regulation C, 12 CFR part 1003, Home Mortgage Disclosure,
https://www.govinfo.gov/content/pkg/CFR-2018-title12-vol8/pdf/CFR-2018-title12-vol8-part1003-appA.pdf.
\4\ The SBA defines a small banking organization as having $550
million or less in assets, where ``a financial institution's assets
are determined by averaging the assets reported on its four
quarterly financial statements for the preceding year.'' See 13 CFR
121.201 (as amended, effective December 2, 2014). ``SBA counts the
receipts, employees, or other measure of size of the concern whose
size is at issue and all of its domestic and foreign affiliates.''
See 13 CFR 121.103. Following these regulations, the FDIC uses a
covered entity's affiliated and acquired assets, averaged over the
preceding four quarters, to determine whether the covered entity is
``small'' for the purposes of RFA.
\5\ Call Report, December 31, 2017.
\6\ Interpretive and Procedural Rule, Partial Exemptions from
the Requirements of the Home Mortgage Disclosure Act under the
Economic Growth, Regulatory Relief, and Consumer Protection Act
(Regulation C), 83 FR 45325 https://www.federalregister.gov/documents/2018/09/07/2018-19244/partial-exemptions-from-the-requirements-of-the-home-mortgage-disclosure-act-under-the-economic.
\7\ 910,000 Full Data disclosures / 650 respondents = 1,400
disclosures per respondent.
240,000 Partial Data disclosures / 1,200 respondents = 200
disclosures per respondent.
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The frequency of response is `on occasion', which remains unchanged
from the 2016 ICR.\8\ Due to an increase in the number of required
items, the estimated time per response for the Full Data loan
disclosure form will increase from 5 minutes to 10 minutes. The
estimated time per response for the Partial Data loan disclosure form
will remain unchanged at 5 minutes. For both the Full and Partial loan
disclosure, the estimated burden is divided equally among reporting and
recordkeeping.
\8\ See https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=20151203064-006.
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2. Title: External Audits.
OMB Control Number: 3064-0113.
Form Number: None.
Affected Public: All insured financial institutions with total
assets of $500 million or more and other insured financial institutions
with total assets of less than $500 million that voluntarily choose to
comply.
Burden Estimate:
Summary of Annual Burden
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Total
Estimated Estimated Estimated estimated
Information collection (IC) Type of burden Obligation to number of number of time per Frequency of annual
description respond respondents responses response response burden
(hours) (hours)
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FDIC Supervised Institutions with $10 Billion or More in Total Assets
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Annual Report..................... Recordkeeping....... Mandatory........... 28 1 150 Annually............ 4,200
Reporting........... Mandatory........... 28 1 150 Annually............ 4,200
Audit Committee Composition....... Recordkeeping....... Mandatory........... 28 1 3 Annually............ 84
Reporting........... Mandatory........... 28 1 3 Annually............ 84
Filing of Other Reports........... Recordkeeping....... Mandatory........... 28 1 .125 Annually............ 3.5
Reporting........... Mandatory........... 28 1 .125 Annually............ 3.5
Notice of Change in Accountants... Recordkeeping....... Mandatory........... 7 1 .25 Annually............ 1.75
Reporting........... Mandatory........... 7 1 .25 Annually............ 1.75
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FDIC Supervised Institutions .................... .................... ........... ........... ........... .................... 8,578.5
with $10 Billion or More in
Total Assets.
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[[Page 49300]]
FDIC Supervised Institutions with $3 Billion to $10 Billion in Total Assets
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Annual Report..................... Recordkeeping....... Mandatory........... 98 1 125 Annually............ 12,250
Reporting........... Mandatory........... 98 1 125 Annually............ 12,250
Audit Committee Composition....... Recordkeeping....... Mandatory........... 98 1 3 Annually............ 294
Reporting........... Mandatory........... 98 1 3 Annually............ 294
Filing of Other Reports........... Recordkeeping....... Mandatory........... 98 1 .125 Annually............ 12.25
Reporting........... Mandatory........... 98 1 .125 Annually............ 12.25
Notice of Change in Accountants... Recordkeeping....... Mandatory........... 25 1 .25 Annually............ 6.25
Reporting........... Mandatory........... 25 1 .25 Annually............ 6.25
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FDIC Supervised Institutions .................... .................... ........... ........... ........... .................... 25,125
with $3 Billion to $10
Billion in Total Assets.
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FDIC Supervised Institutions with $1 Billion to $3 Billion in Total Assets
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Annual Report..................... Recordkeeping....... Mandatory........... 225 1 100 Annually............ 22,500
Reporting........... Mandatory........... 225 1 100 Annually............ 22,500
Audit Committee Composition....... Recordkeeping....... Mandatory........... 225 1 2 Annually............ 450
Reporting........... Mandatory........... 225 1 2 Annually............ 450
Filing of Other Reports........... Recordkeeping....... Mandatory........... 225 1 .125 Annually............ 28.125
Reporting........... Mandatory........... 225 1 .125 Annually............ 28.125
Notice of Change in Accountants... Recordkeeping....... Mandatory........... 56 1 .25 Annually............ 14
Reporting........... Mandatory........... 56 1 .25 Annually............ 14
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FDIC Supervised Institutions .................... .................... ........... ........... ........... .................... 45,984.25
with $1 Billion to $3 Billion
in Total Assets.
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FDIC Supervised Institutions with $500 Million to $1 Billion in Total Assets
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Annual Report..................... Recordkeeping....... Mandatory........... 401 1 12.5 Annually............ 5,012.5
Reporting........... Mandatory........... 401 1 12.5 Annually............ 5,012.5
Audit Committee Composition....... Recordkeeping....... Mandatory........... 401 1 1 Annually............ 401
Reporting........... Mandatory........... 401 1 1 Annually............ 401
Filing of Other Reports........... Recordkeeping....... Mandatory........... 401 1 .125 Annually............ 50.125
Reporting........... Mandatory........... 401 1 .125 Annually............ 50.125
Notice of Change in Accountants... Recordkeeping....... Mandatory........... 100 1 .25 Annually............ 25
Reporting........... Mandatory........... 100 1 .25 Annually............ 25
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FDIC Supervised Institutions .................... .................... ........... ........... ........... .................... 10,977.25
with $500 Million to $1
Billion in Total Assets.
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FDIC Supervised Institutions with Less Than $500 Million in Total Assets
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Filing of Other Reports........... Recordkeeping....... Mandatory........... 3,291 1 .25 Annually............ 822.75
Reporting........... Mandatory........... 3.291 2 .25 Annually............ 1,645.5
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FDIC Supervised Institutions .................... .................... ........... ........... ........... .................... 2,468.25
with $500 Million to $1
Billion in Total Assets.
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Total Estimated Annual .................... .................... ........... ........... ........... .................... 93,133.25
Burden.
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General Description of Collection: FDIC's regulations at 12 CFR
part 363 establish annual independent audit and reporting requirements
for financial institutions with total assets of $500 million or more.
The requirements include the submission of an annual report on their
financial statements, recordkeeping about management deliberations
regarding external auditing and reports about changes in auditors. The
information collected is used to facilitate early identification of
problems in financial management at financial institutions.
3. Title: Qualifications for Failed Bank Acquisitions.
OMB Control Number: 3064-0169.
Form Number: None.
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:
Summary of Annual Burden
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Total
Estimated Estimated Estimated estimated
Information collection (IC) Type of burden Obligation to number of number of time per Frequency of annual
description respond respondents responses response response burden
(hours) (hours)
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Section D--Investor Reports on Reporting........... Mandatory........... 3 12 2 On Occasion......... 72
Affiliates.
Section E--Maintenance of Business Recordkeeping....... Mandatory........... 3 4 2 On Occasion......... 24
Books and Records.
[[Page 49301]]
Section I--Disclosures Regarding Reporting........... Mandatory........... 3 4 4 On Occasion......... 48
Investors and Entities in
Ownership Chain.
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Total Estimated Annual Burden .................... .................... ........... ........... ........... .................... 144
Hours.
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General Description of Collection: The FDIC's policy statement on
Qualifications for Failed Bank Acquisitions provides guidance to
private capital investors interested in acquiring or investing in
failed insured depository institutions regarding the terms and
conditions for such investments or acquisitions. The information
collected pursuant to the policy statement allows the FDIC to evaluate,
among other things, whether such investors (and their related
interests) could negatively impact the Deposit Insurance Fund, increase
resolution costs, or operate in a manner that conflict with statutory
safety and soundness principles and compliance requirements.
There were eight (8) bank failures in 2015, five (5) failures in
2016, eight (8) failures in 2017, and zero bank failures in 2018 and
one in the first eight months of 2019. This is an average of fewer than
5 bank failures per year. Based on this recent data, the declining
trend in failures, and the improvement in bank financial conditions,
the FDIC believes that it is appropriate to reduce the expected number
of respondents for Sections D and I from 10 per year to 3 while keeping
the expected number of respondents at 3 per year for Section E.
The estimated total number of hours per respondent, per year will
remain unchanged at 48 hours. The 48 hours is comprised of 12 monthly
reports of two hours each for Section D, four quarterly reports of two
hours each for Section E, and four quarterly reports of four hours each
for Section I. Thus the total estimated annual burden for the ICR is
144 hours as reflected in the table above This represents a reduction
of 280 hours from the 2016 estimate of 424 hours.
4. Title: Funding and Liquidity Risk Management.
OMB Control Number: 3064-0174.
Form Number: None.
Affected Public: Businesses or other for-profits.
Burden Estimate:
Summary of Annual Burden
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Total
Estimated Estimated Estimated estimated
Information collection (IC) Type of burden Obligation to number of number of time per Frequency of annual
description respond respondents responses response response burden
(hours) (hours)
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Par. 14--Strategies, Policies, Recordkeeping....... Voluntary........... 3,483 1 96 On Occasion......... 334,368
Procedures and Risk Tolerances.
Par. 20--Liquidity Risk Reporting........... Voluntary........... 3,483 12 4 On Occasion......... 167,184
Management, Measurement,
Monitoring and Reporting.
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Total Estimated Annual Burden .................... .................... ........... ........... ........... .................... 501,552
Hours.
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General Description of Collection: The information collection
includes reporting and recordkeeping requirements related to sound risk
management principles applicable to insured depository institutions. To
enable an institution and its supervisor to evaluate the liquidity risk
exposure of an institution's individual business lines and for the
institution as a whole, the Interagency Policy Statement on Funding and
Liquidity Risk Management (Interagency Statement) summarizes principles
of sound liquidity risk management and advocates the establishment of
policies and procedures that consider liquidity costs, benefits, and
risks in strategic planning. In addition, the Interagency Statement
encourages the use of liquidity risk reports that provide detailed and
aggregate information on items such as cash flow gaps, cash flow
projections, assumptions used in cash flow projections, asset and
funding concentrations, funding availability, and early warning or risk
indicators. This is intended to enable management to assess an
institution's sensitivity to changes in market conditions, the
institution's financial performance, and other important risk factors.
5. Title: Interagency Guidance on Leveraged Lending.
OMB Control Number: 3064-0191.
Form Number: None.
Affected Public: Insured state nonmember banks and savings
associations.
Burden Estimate:
Summary of Annual Burden
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Total
Estimated Estimated Estimated estimated
Information collection (IC) Type of burden Obligation to number of number of time per Frequency of annual
description respond respondents responses response response burden
(hours) (hours)
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Interagency Guidance on Leveraged Recordkeeping....... Voluntary........... 1 1 988 On Occasion......... 988
Lending--Implementation.
Interagency Guidance on Leveraged Recordkeeping....... Voluntary........... 6 1 527.3 On Occasion......... 3,164
Lending--Ongoing.
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[[Page 49302]]
Total Estimated Annual Burden .................... .................... ........... ........... ........... .................... 4,152
Hours.
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General Description of Collection: The Interagency Guidance on
Leveraged Lending (Guidance) outlines for agency-supervised
institutions high level principles related to safe-and sound leveraged
lending activities, including underwriting considerations, assessing
and documenting enterprise value, risk management expectations for
credits awaiting distribution, stress testing expectations, pipeline
portfolio management, and risk management expectations for exposures
held by the institution.
This Guidance provides information to all financial institutions
supervised by the Office of the Comptroller of the Currency, the Board
of Governors of the Federal Reserve System and the FDIC (the Agencies)
that engage in leveraged lending activities. The number of community
banks with substantial involvement in leveraged lending is small;
therefore, the Agencies generally expect community banks to be largely
unaffected by this information collection. 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.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on September 12, 2019.
Valerie Best,
Assistant Executive Secretary.
[FR Doc. 2019-20216 Filed 9-18-19; 8:45 am]
BILLING CODE 6714-01-P