[Federal Register Volume 84, Number 215 (Wednesday, November 6, 2019)]
[Notices]
[Pages 59808-59809]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-24209]



[[Page 59808]]

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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request Re: Information Collection for Innovation Pilot 
Programs (NEW)

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC seeks to continue its engagement and collaboration 
with innovators in the financial, non-financial, and technology sectors 
to, among other things, identify, develop and promote technology-driven 
innovations among community and other banks in a manner that ensures 
the safety and soundness of FDIC-supervised and insured institutions. 
An innovation pilot program framework can provide a regulatory 
environment in which the FDIC, in conjunction with individual proposals 
collected from innovators, including banks, will provide tailored 
regulatory and supervisory assistance, when appropriate, to facilitate 
the testing of innovative and advanced technologies, products, 
services, systems, or activities. The FDIC invites the general public, 
including persons who may have an interest in participating in 
innovation pilot programs and other Federal agencies, to comment on the 
agency's collection of pilot program proposals by innovators, as 
required by the Paperwork Reduction Act of 1995. At the end of the 
comment period, any comments and recommendations received will be 
reviewed to determine the extent to which the collection of proposals 
should be modified prior to the submission to the Office of Management 
and Budget (OMB) for review and approval.

DATES: Comments must be submitted on or before January 6, 2020.

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/notices.html.
     https://www.regulations.gov.
     Email: [email protected]. Include the name of the 
collection in the subject line of the message.
     Mail: Jennifer Jones, 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 above address located on F Street NW, on 
business days between 7:00 a.m. and 5:00 p.m., EST.


    All comments should reference ``Information Collection for 
Innovation Pilot Programs.'' 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, at the FDIC 
mailing address above or by phone at 202-898-6768.

SUPPLEMENTARY INFORMATION:

Proposal for the Following New Collection of Information

    1. Title: Information Collection for Innovation Pilot Programs.
    OMB Number: 3064-NEW.
    Form Number: None.
    Affected Public: FDIC-supervised institutions (state-chartered 
banks and savings institutions that are not members of the Federal 
Reserve System) and innovative companies that partner or plan to 
partner, or provide services to such institutions.
    Estimated Number of Respondents: 50.
    Estimated Total Annual Burden: 3,000 hours.
    General Description of Collection: The FDIC seeks to engage and 
collaborate with innovators in the financial, non-financial, and 
technology sectors to, among other things, identify, develop and 
promote technology-driven innovations among community and other banks 
in a manner that ensures the safety and soundness of FDIC-supervised 
and insured institutions. An innovation pilot program framework will 
provide a regulatory environment in which the FDIC, in conjunction with 
individual proposals collected from innovators, including banks, will 
provide tailored regulatory and supervisory assistance, when 
appropriate, to facilitate the testing of innovative and advanced 
technologies, products, services, systems, or activities.
    While greater detail and the parameters of a planned innovation 
pilot program framework will be separately announced at a later date, 
innovators (banks and firms in partnership with banks) will be invited 
to voluntarily propose time-limited pilot programs, which will be 
collected and considered by the FDIC on a case-by-case basis. 
Innovators may request to participate by submitting proposals during a 
set time period for submissions. Applicants will propose the design and 
parameters of the pilot program tests, as well as any tailored 
regulatory and supervisory assistance needed from the FDIC. Collected 
proposals will be assessed, prioritized and identified for testing, 
either on their own or as part of a subject-area focused grouping of 
pilot programs.
    The FDIC anticipates that proposals will involve cutting-edge 
innovations and novel approaches or applications involving a banking 
product, service, system, or activity that benefits and can lead to 
better outcomes for consumers through, for example, an increased range 
of products and services, reduced costs, or improved access to 
financial services, or that decreases operational, risk management, or 
compliance costs for insured depository institutions.
    Accepted pilot programs may be conducted and monitored concurrently 
with a number of pilot programs selected in a given cohort with limited 
participants. Subject-area groupings could include pilot programs that 
match a general theme or product area of great promise or particular 
interest to the banking sector or the FDIC. This may be announced in 
advance of the collection or afterwards if multiple pilot programs 
proposals are found to share key attributes or defining characteristics 
(e.g., similar product concept; banks of certain size; like customer 
focus).
    Proposals will be collected from FDIC-supervised institutions 
(state-chartered banks and savings institutions that are not members of 
the Federal Reserve System), who may submit a pilot program proposal 
individually or together with companies that provide or aim to provide 
technologically driven products, services, or systems through direct 
contractual arrangements, partnerships, or joint ventures (this 
includes third-party service providers). Proposals may also be 
collected from innovators that are not themselves FDIC-supervised 
institutions and do not have a partnering institution but who may 
submit a pilot program proposal; however, the nonbank will be eligible 
to receive only a preliminary non-objection to its proposal conditioned 
on later submission (and collection) of the proposal in partnership 
with an FDIC-supervised institution.
    The collection will be limited by eligibility for consideration. 
FDIC-supervised institutions that wish to participate in a pilot 
program must: (1) Have a demonstrated record of engaging in appropriate 
risk management; (2) be well-capitalized; (3) be well-rated for 
compliance and safety and soundness; and (4) not have significant 
pending supervisory or enforcement actions (or significant regulatory 
investigations). Other firms seeking to participate in a

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pilot program must: (1) Be a U.S. domicile; (2) conduct all pilot 
program banking activity (products and services) through an FDIC-
supervised institution partner; and (3) not involve persons who have 
been convicted of any criminal offense involving dishonesty, breach of 
trust, or money laundering.

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 estimate 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.
Annmarie H. Boyd,
Assistant Executive Secretary.
[FR Doc. 2019-24209 Filed 11-5-19; 8:45 am]
BILLING CODE 6714-01-P