[Federal Register Volume 86, Number 181 (Wednesday, September 22, 2021)]
[Notices]
[Pages 52679-52680]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-20501]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0212]


Agency Information Collection Activities: Proposed Collection; 
Comment Request

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. As part of an innovation pilot 
program, innovators may request information from banks and other 
members of the public outside of their normal course of business. Any 
information provided by banks and other members of the public will be 
provided on a voluntary basis. FDIC staff may similarly request 
information on a voluntary basis from banks or other members of the 
public to evaluate the products or services developed in the pilot 
programs. 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 
information that may result from innovators obtaining information from 
banks and other members of the public in connection with innovation 
pilot programs, 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 November 22, 2021.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     Agency Website: https://www.fdic.gov/resources/regulations/federal-register-publications/.
     Email: [email protected]. Include the name of the 
collection in the subject line of the message.
     Mail: Jennifer Jones (202-898-6768), Counsel, MB-3078, 
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 NW building (located on F 
Street), on business days between 7:00 a.m. and 5:00 p.m.
    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, 202-898-6768, 
[email protected], MB-3078, Federal

[[Page 52680]]

Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 
20429.

SUPPLEMENTARY INFORMATION: 
    Proposal to amend the following currently approved collection of 
information:
    1. Title: Information Collection for Innovation Pilot Programs.
    OMB Number: 3064-0212.
    Form Number: None.
    Affected Public: FDIC-supervised and -insured institutions and 
other members of the public that provide information to innovators in 
connection with innovation pilot programs.
    Burden Estimate:

                                                                Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                             Estimated       Estimated       Estimated       Estimated
 Information collection description       Type of  burden        Obligation  to respond      number of     frequency of      time per     annual  burden
                                                                                            respondents      responses       response         (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Innovation Pilot Programs--Burden    Reporting................  Voluntary...............             400     On Occasion             100          40,000
 on Banks and Other Members of the
 Public.
                                    --------------------------------------------------------------------------------------------------------------------
    Total Estimated Annual Burden..  .........................  ........................  ..............  ..............  ..............          40,000
--------------------------------------------------------------------------------------------------------------------------------------------------------

    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 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 anticipates that products developed as part of innovation 
pilot programs will improve the efficiency and effectiveness of bank 
operations, and eventually, examinations, while increasing transparency 
and ultimately reducing the cost of regulatory compliance for 
participating institutions. In addition, the FDIC anticipates that 
proposals provided in connection with the innovation pilot programs 
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.
    As part of an innovation pilot program, innovators may request 
information from banks and other members of the public outside of their 
normal course of business. Any information provided by banks and other 
members of the public will be provided on a voluntary basis. FDIC staff 
may similarly request information on a voluntary basis from banks or 
other members of the public to evaluate the products or services 
developed in the pilot programs. This information is intended to allow 
banks and the FDIC to analyze the health of the overall banking system, 
critical financial sectors, or national, regional or local economic 
conditions (i.e., horizontal analysis). Additionally, bank specific 
information may be collected in order to allow for better insights into 
current and escalating risks across all aspects of banking. In 
particular, innovators may request from banks and other members of the 
public general ledger information about all products and services, or a 
subset of products and services, systems or activities, and will not 
contain any personally identifiable information (PII) as defined in OMB 
Circular A-130 and includes the disclosure of any financial records or 
information which is identified with or identifiable as being derived 
from the financial records of a particular customer.
    The annual burden for this information collection is estimated to 
be 4,000 hours. This represents an increase of hours from the current 
burden estimate and also a change in focus. In particular, when this 
information collection was first obtained, it included the burden 
imposed on the innovators and partner banks. In review of this 
information collection, the FDIC has decided to transfer the burden 
imposed on innovators to existing information collection 3064-0072 
entitled, ``Acquisition Services Information Requirements,'' which is 
related to the FDIC's procurement process. The remaining hours in this 
information collection, which have been updated and increased, reflect 
the burden imposed on banks and other members of the public in 
connection with innovation pilot programs.

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 September 17, 2021.
James Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-20501 Filed 9-21-21; 8:45 am]
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