[Federal Register Volume 86, Number 231 (Monday, December 6, 2021)]
[Notices]
[Pages 69033-69035]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-26357]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0093; -0111; -0136]


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its obligations under the Paperwork 
Reduction Act of 1995 (PRA), invites the general public and other 
Federal agencies to take this opportunity to comment on the renewal of 
the existing information collections described below (OMB Control No. 
3064-0093; -0111 and -0136).

DATES: Comments must be submitted on or before February 4, 2022.

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 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: Proposal to renew the following currently 
approved collections of information:
    1. Title: Notices Required of Government Securities Dealers or 
Brokers (Insured State Nonmember Banks).
    OMB Number: 3064-0093.
    Form Number: G-FIN; G-FINW; G-FIN4 & G-FIN5.
    Affected Public: Insured state nonmember banks acting as government 
securities brokers and dealers.
    Burden Estimate:

                                                           Summary of Estimated Annual Burden
                                                                   [OMB No. 3064-0093]
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                                                                                                             Number of
  Information collection description        Type of burden        Frequency of response      Number of     responses per     Hours per     Annual burden
                                        (obligation to respond)                             respondents     respondent       response         (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Notice by Financial Institutions of    Reporting (Mandatory)...  On Occasion............               1               1               1               1
 Government Securities Broker or
 Government Securities Dealer
 Activities (G-FIN).
Notice by Financial Institutions of    Reporting (Mandatory)...  On Occasion............               1               1               2               2
 Termination of Activities as a
 Government Securities Broker or
 Government Securities Dealer (G-
 FINW).
Disclosure Form for Person Associated  Reporting (Mandatory)...  On Occasion............               1               5               2              10
 with a Financial Institution
 Securities Broker or Dealer (G-FIN-
 4).
Uniform Termination Notice for         Reporting (Mandatory)...  On Occasion............               1               5            0.25            1.25
 Persons Associated with a Financial
 Institution Government Securities
 Broker or Dealer (G-FIN-5).
                                                                                         ---------------------------------------------------------------
    Total Annual Burden (Hours)......  ........................  .......................  ..............  ..............  ..............           14.25
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Source: FDIC.

    General Description of Collection: The Government Securities Act of 
1986 requires all financial institutions acting as government 
securities brokers and dealers to notify their Federal regulatory 
agencies of their broker dealer activities,

[[Page 69034]]

unless exempted from the notice requirements by Treasury Department 
regulation. The Form G-FIN and Form G-FINW are used by insured State 
nonmember banks that are government securities brokers or dealers to 
notify the FDIC of their status or that they have ceased to function as 
a government securities broker or dealer.
    The Form G-FIN-4 is used by associated persons of insured State 
nonmember banks that are government securities brokers or dealers to 
provide certain information to the bank and to the FDIC concerning 
employment, residence, and statutory disqualification. The Form G-FIN-5 
is used by insured State nonmember banks that are government securities 
brokers or dealers to notify the FDIC that an associated person is no 
longer associated with the government securities broker or dealer 
function of the bank.
    There is no change in the method or substance of the collection. 
The overall increase in burden hours is the result of economic 
fluctuation. In particular, the estimated number of submissions of form 
G-FIN-4 has increased by four, the hours per response increased by one 
and frequency of responses have remained the same.
    2. Title: Activities and Investments of Insured State Banks.
    OMB Number: 3064-0111.
    Form Numbers: None.
    Affected Public: Insured state nonmember banks and insured state 
savings associations.
    Burden Estimate:

                                                           Summary of Estimated Annual Burden
                                                                   [OMB No. 3064-0111]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                             Number of
  Information collection description        Type of burden        Frequency of response      Number of     responses per     Hours per     Annual burden
                                        (obligation to respond)                             respondents     respondent       response         (hours)
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Application or Notice to engage in     Reporting (Required)....  On occasion............              29             1.1               8             256
 certain activities \1\.
                                                                                         ---------------------------------------------------------------
    Total Annual Burden (Hours)......  ........................  .......................  ..............  ..............  ..............             256
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Source: FDIC.

    General Description of Collection: Section 24 of the Federal 
Deposit Insurance (FDI Act), 12 U.S.C. 1831a, limits investments and 
other activities in which state banks may engage, as principal, to 
those permissible for national banks and those approved by the FDIC 
under procedures set forth in part 362 of the FDIC's Rules and 
Regulations, 12 CFR part 362. With certain exceptions, section 24 of 
the FDI Act limits the activities and investments of state banks to 
those activities and investments that are permissible for national 
banks. In addition, the statute prohibits a state bank from directly 
engaging, as a principal, in any activity or investment that is not 
permissible for a national bank, or indirectly through a subsidiary in 
an activity or investment that is not permissible for a subsidiary of a 
national bank, unless such bank meets its minimum capital requirements 
and the FDIC determines that the activity or investment does not pose a 
significant risk to the Deposit Insurance Fund (DIF). The FDIC can make 
such a determination for exception by regulation or by order. Section 
28(a), 12 U.S.C. 1831e, similarly limits the investments and activities 
of state savings associations and their service corporations to those 
permitted by federal savings associations and their service 
corporations, absent FDIC approval. Part 362 details the activities 
that state banks or their subsidiaries may engage in, under certain 
criteria and conditions and identifies the information that state banks 
must furnish to the FDIC in order to obtain the FDIC's approval or non-
objection. Part 362 also applies to the activities and investments of 
state savings associations and their subsidiaries.
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    \1\ There is no official form used to submit an application or 
notice. Institutions write a letter with supporting documentation to 
FDIC to file a response.
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    There is no change in the method or substance of the collection. 
The increase in burden hours is the result of economic fluctuation. In 
particular, the number of respondents has increased while the hours per 
response and frequency of responses have remained the same.
    3. Title: Privacy of Consumer Financial Information.
    OMB Number: 3064-0136.
    Form Number: None.
    Affected Public: Insured state nonmember banks and consumers.
    Burden Estimate:

[[Page 69035]]



                                                           Summary of Estimated Annual Burden
                                                                   [OMB No. 3064-0136]
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                                                                                                             Number of
  Information collection description        Type of burden        Frequency of response      Number of     responses per     Hours per     Annual burden
                                        (obligation to respond)                             respondents     respondent       response         (hours)
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Initial Notice to Consumers..........  Third Party Disclosure    On Occasion............              94             1.4              60           7,896
                                        (Mandatory).
Opt-out Notice.......................  Third Party Disclosure    On Occasion............             314               1               8           2,512
                                        (Mandatory).
Annual Notice and Change in Terms....  Third Party Disclosure    Annual.................             534               1               8           4,272
                                        (Mandatory).
Consumer Opt-out.....................  Third Party Disclosure    On Occasion............         435,225               1            0.25      108,806.25
                                        (Voluntary).
                                                                                         ---------------------------------------------------------------
    Total Annual Burden (Hours)......  ........................  .......................  ..............  ..............  ..............      123,486.25
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Source: FDIC.

    General Description of Collection: The elements of this collection 
are required under sections 503 and 504 of the Gramm-Leach-Bliley Act, 
15 U.S.C. 6803, 6804. The collection mandates notice requirements and 
restrictions on a financial institution's ability to disclose nonpublic 
personal information about consumers to nonaffiliated third parties.
    There is no change in the method or substance of the collection. 
The overall decrease in burden hours is the result of economic 
fluctuation. In particular, the estimated number of respondents to the 
Consumer Opt-out component increased, the number of respondents to the 
other components decreased and 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.

    Dated at Washington, DC, on November 30, 2021.
James P. Sheesley,
Assistant Executive Secretary, Federal Deposit Insurance Corporation.
[FR Doc. 2021-26357 Filed 12-3-21; 8:45 am]
BILLING CODE 6714-01-P