[Federal Register Volume 86, Number 226 (Monday, November 29, 2021)]
[Notices]
[Pages 67709-67710]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-25924]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0212]


Agency Information Collection Activities: Proposed Collection 
Amendment; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Agency information collection activities: Submission for OMB 
review; comment request.

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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. On 
September 22, 2021 and September 28, 2021, the FDIC published notices 
in the Federal Register requesting comment for 60 days on a proposal to 
amend this information collection. One comment was received but did not 
indicate any changes to be made to the information collection. The FDIC 
hereby gives notice of its plan to submit to OMB a request to approve 
the amended information collection, and again invites comment.

DATES: Comments must be submitted on or before December 29, 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/index.html.
     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.
    Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to www.reginfo.gov/public/do/PRAMain. Find this particular information 
collection by selecting ``Currently under 30-day Review--Open for 
Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Jennifer Jones, Counsel, 202-898-6768, 
[email protected], MB-3078, Federal 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
 Information collection description      Type of burden     Obligation to respond     number of     Estimated frequency   Estimated time   annual burden
                                                                                     respondents        of responses       per response       (hours)
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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
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    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

[[Page 67710]]

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. Information 
requested will not contain any personally identifiable information 
(PII) as defined in OMB Circular A-130 or include 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 40,000 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 November 23, 2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-25924 Filed 11-26-21; 8:45 am]
BILLING CODE 6714-01-P