[Federal Register Volume 85, Number 9 (Tuesday, January 14, 2020)]
[Notices]
[Pages 2134-2135]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-00437]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Submission for OMB 
Review; 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. On November 6, 2019, the FDIC 
requested comment for 60 days from the general public, including 
persons who may have an interest in participating in innovation pilot 
programs, and other Federal agencies, on the agency's collection of 
pilot program proposals by innovators, as required by the Paperwork 
Reduction Act of 1995 (PRA). The FDIC received no comments. The FDIC 
hereby gives notice of its plan to submit to the Office of Management 
and Budget (OMB) a request to approve this collection, and again 
invites comment on this new information collection request.
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    \6\ The maximum penalty amount is per day, unless otherwise 
indicated.
    \7\ 12 U.S.C. 1464(v) provides the maximum CMP amounts for the 
late filing of certain Call Reports. In 2012, however, the FDIC 
issued regulations that further subdivided these amounts based upon 
the size of the institution and the lateness of the filing. See 77 
FR 74573, 74576-78 (Dec. 17, 2012), codified at 12 CFR 
308.132(e)(1). These adjusted subdivided amounts are found at the 
end of this chart.
    \8\ The maximum penalty amount for an institution is the lesser 
of this amount or 1 percent of total assets.
    \9\ 12 U.S.C. 1817(a) provides the maximum CMP amounts for the 
late filing of certain Call Reports. In 1991, however, the FDIC 
issued regulations that further subdivided these amounts based upon 
the size of the institution and the lateness of the filing. See 56 
FR 37968, 37992-93 (Aug. 9, 1991), codified at 12 CFR 308.132(e)(1). 
These adjusted subdivided amounts are found at the end of this 
chart.

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DATES: Comments must be submitted on or before February 13, 2020.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
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    \10\ The maximum penalty amount for an institution is the lesser 
of this amount or 1 percent of total assets.
    \11\ The maximum penalty amount for an institution is the lesser 
of this amount or 1 percent of total assets.
    \12\ The maximum penalty amount for an institution is the lesser 
of this amount or 1 percent of total assets.
    \13\ These amounts also apply to CMPs in statutes that cross-
reference 12 U.S.C. 1818, such as 12 U.S.C. 2601, 2804(b), 3108(b), 
3349(b), 4009(a), 4309(a), 4717(b); 15 U.S.C. 1607(a), 1681s(b), 
1691(b), 1691c(a), 1693o(a); and 42 U.S.C. 3601.
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     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, at the FDIC mailing 
address above or by phone at 202-898-6768.

SUPPLEMENTARY INFORMATION: On November 6, 2019, the FDIC requested 
comment for 60 days from the general public, including persons who may 
have an interest in participating in innovation pilot programs, and 
other Federal agencies, on the agency's collection of pilot program 
proposals by innovators, as required by the PRA. The FDIC received no 
comments. The FDIC hereby gives notice of its plan to submit to OMB a 
request to approve this collection, and again invites comment on this 
new information collection request.
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    \14\ The maximum penalty amount for an institution is the lesser 
of this amount or 1 percent of total assets.
    \15\ The $122-per-day maximum CMP under 12 U.S.C. 1828(h), for 
failure or refusal to pay any assessment, applies only when the 
assessment is less than $10,000. When the amount of the assessment 
is $10,000 or more, the maximum CMP under section 1828(h) is 1 
percent of the amount of the assessment for each day that the 
failure or refusal continues.
    \16\ The maximum penalty amount for an institution is the lesser 
of this amount or 1 percent of total assets.
    \17\ The maximum penalty amount for an institution is the 
greater of this amount or 1/100,000th of the institution's total 
assets.
    \18\ The maximum penalty amount for an institution is the 
greater of this amount or 1/50,000th of the institution's total 
assets.
    \19\ The maximum penalty amount for an institution is the lesser 
of this amount or 1 percent of total assets.

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[[Page 2135]]

    Time: 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 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.

    Dated at Washington, DC, on January 9, 2020.
Annmarie H. Boyd,
Assistant Executive Secretary.
[FR Doc. 2020-00437 Filed 1-13-20; 8:45 am]
BILLING CODE 6714-01-P