[Federal Register Volume 87, Number 16 (Tuesday, January 25, 2022)]
[Notices]
[Pages 3806-3807]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01313]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0095; -0117]


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. 
3064-0095; and -0117).

DATES: Comments must be submitted on or before March 28, 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: Procedures for Monitoring Bank Protection Act Compliance.
    OMB Number: 3064-0095.
    Form Number: None.
    Affected Public: Insured state nonmember banks.
    Burden Estimate:

                                                 Summary of Estimated Annual Burdens (OMB No. 3064-0095)
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                                                                                                             Number of
           IC description                  Type of burden         Frequency of response      Number of     responses per     Hours per     Annual burden
                                      (obligation to respond)                               respondents     respondent       response         (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Implementation Burden:
    Bank Protection Act Compliance   Recordkeeping (Mandatory)  Annually................              35               1              50           1,750
     Program--Institutions with an
     Asset Size Less than $500
     million.
    Bank Protection Act Compliance   Recordkeeping (Mandatory)  Annually................              57               1             300          17,100
     Program--Medium-Sized
     Institutions ($500 million-$10
     billion).
    Bank Protection Act Compliance   Recordkeeping (Mandatory)  Annually................              12               1             500           6,000
     Program--Large Institutions
     (Over $10 billion).

[[Page 3807]]

 
Ongoing Burden:
    Bank Protection Act Compliance   Recordkeeping (Mandatory)  Annually................           2,880               1               5          14,400
     Program--Routine Revisions.
    Bank Protection Act Compliance   Recordkeeping (Mandatory)  Annually................             320               1              35          11,200
     Program--Significant Revisions.
                                                                                         ---------------------------------------------------------------
        Total Annual Burden Hours..  .........................  ........................  ..............  ..............  ..............          50,450
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Source: FDIC.

    General Description of Collection: The collection requires insured 
state nonmember banks to comply with the Bank Protection Act and to 
review bank security programs The Bank Protection Act of 1968 (12 
U.S.C. 1881-1884) requires each Federal supervisory agency to 
promulgate rules establishing minimum standards for security devices 
and procedures to discourage financial crime and to assist in the 
identification of persons who commit such crimes. To avoid the 
necessity of constantly updating a technology-based regulation, the 
FDIC takes a flexible approach to implementing this statute. It 
requires each insured nonmember bank to designate a security officer 
who will administer a written security program. The security program 
must: (1) Establish procedures for opening and closing for business and 
for safekeeping valuables; (2) establish procedures that will assist in 
identifying persons committing crimes against the bank; (3) provide for 
initial and periodic training of employees in their responsibilities 
under the security program; and (4) provide for selecting, testing, 
operating and maintaining security devices as prescribed in the 
regulation. In addition, the FDIC requires the security officer to 
report at least annually to the bank's board of directors on the 
effectiveness of the security program.
    There is no change in the method or substance of the collection. 
The 48,683 increase in burden hours is the result of the agency re-
evaluating the time it takes for recordkeeping and reporting associated 
with the rule, and including new implementation burdens for new 
entities and entities reviewing their policies in light of mergers and 
other organizational changes.
    2. Title: Mutual-to-Stock Conversion of State Savings Banks.
    OMB Number: 3064-0117.
    Form Numbers: None.
    Affected Public: Insured state savings associations.
    Burden Estimate:

                                                 Summary of Estimated Annual Burden (OMB No. 3064-0117)
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                                           Type of burden (obligation to                                     Number of       Hours per     Annual burden
   Information collection description                respond)                  Frequency of response        respondents      response         (hours)
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Application or Notice to engage in        Reporting.....................  On occasion...................               5             250           1,250
 certain activities.
                                                                                                         -----------------------------------------------
    Total Annual Burden (Hours).........  ..............................  ..............................  ..............  ..............           1,250
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Source: FDIC.

    General Description of Collection: State savings associations must 
file a notice of intent to convert to stock form, and provide the FDIC 
with copies of documents filed with state and federal banking and/or 
securities regulators in connection with any proposed mutual-to-stock 
conversion. There is no change in the method or substance of the 
collection.

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 January 19, 2022.

Federal Deposit Insurance Corporation.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-01313 Filed 1-24-22; 8:45 am]
BILLING CODE 6714-01-P