[Federal Register Volume 87, Number 27 (Wednesday, February 9, 2022)]
[Notices]
[Pages 7449-7452]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-02691]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request; OMB No. 3064-0093; -0111; -0136

AGENCY: Federal Deposit Insurance Corporation (FDIC).

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

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

DATES: Comments must be submitted on or before March 11, 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

[[Page 7450]]

the rear of the 17th Street 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: 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]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                             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
--------------------------------------------------------------------------------------------------------------------------------------------------------
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, 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)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Application or Notice to engage in     Reporting (Required)....  On occasion............              29             1.1               8             256
 certain activities \1\.
                                                                                         ---------------------------------------------------------------

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    Total Annual Burden (Hours)......  ........................  .......................  ..............  ..............  ..............             256
--------------------------------------------------------------------------------------------------------------------------------------------------------
Source: FDIC.
\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.

    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.
    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:

                                                           Summary of Estimated Annual Burden
                                                                   [OMB No. 3064-0136]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                             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)
--------------------------------------------------------------------------------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------------------------------------------------------------------------------
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, this 4th day of February 2022.


[[Page 7452]]


Federal Deposit Insurance Corporation.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-02691 Filed 2-8-22; 8:45 am]
BILLING CODE 6714-01-P