[Federal Register Volume 87, Number 161 (Monday, August 22, 2022)]
[Notices]
[Pages 51415-51418]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-17948]


=======================================================================
-----------------------------------------------------------------------

FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0026; -0070; -0079; -0188]


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

-----------------------------------------------------------------------

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. 
3064-0026, -0070, -0079, and -0188).

DATES: Comments must be submitted on or before October 21, 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/.
     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 NW building (located on F Street 
NW), 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 collection of information:
    1. Title: Transfer Agent Registration and Amendment Form.
    OMB Number: 3064-0026.
    Form Number: TA-1.
    Affected Public: Private Sector, insured state nonmember banks and 
state savings associations.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0026]
----------------------------------------------------------------------------------------------------------------
    Information collection       Type of burden                      Number of       Time per
  description  (obligation to     (frequency of      Number of     responses per     response      Annual burden
           respond)                 response)       respondents     respondent        (HH:MM)         (hours)
----------------------------------------------------------------------------------------------------------------
1. Transfer Agent Registration  Reporting                      1               1           01:15               1
 12 CFR 341.3 (Mandatory).       (Occasional).
2. Transfer Agent Amendment 12  Reporting                      1               1           00:10               0
 CFR 341.4 (Mandatory).          (Occasional).
3. Transfer Agent               Reporting                      1               1           00:25               0
 Deregistration 12 CFR 341.5     (Occasional).
 (Mandatory).
                                                 ---------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............               1
     (Hours).
----------------------------------------------------------------------------------------------------------------

    General Description of Collection: Section 17A(c) of the Security 
Exchange Act of 1934 (the Act) requires all transfer agents for 
securities registered under section 12 of the Act or, if the security 
would be required to be registered except for the exemption from 
registration provided by Section 12(g)(2)(B) or Section 12(g)(2)(G), to 
``fil[e] with the appropriate regulatory agency . . . an application 
for registration in such form and containing such information and 
documents . . . as such appropriate regulatory agency may prescribe as 
necessary or appropriate in furtherance of the purposes of this 
section.'' In general, an entity performing transfer agent functions 
for a security is required to register with its appropriate regulatory 
agency (ARA) if the security is registered on a national securities 
exchange or if the issuer of the security has total assets exceeding 
$10 million and a class of equity security held of record by 2,000 
persons or, for an issuer that is not a bank, BHC, or SLHC, by 500 
persons who are not accredited investors. The Federal Reserve Board of 
Governors' (Board) Regulation H (12 CFR 208.31(a)) and Regulation Y (12 
CFR 225.4(d)), the OCC's 12 CFR 9.20, and the FDIC's 12 CFR part 341 
implement these provisions of the Act. To accomplish the registration 
of transfer agents, Form TA- 1 was developed in 1975 as an interagency 
effort by the Securities and Exchange Commission (SEC) and the 
agencies. The agencies primarily use the data collected on Form TA-1 to 
determine whether an application for registration should be approved, 
denied, accelerated or postponed, and they use the data in connection 
with their supervisory responsibilities. FDIC is revising this 
information collection to include the burden associated with the 
reporting requirement related to the transfer agent deregistration form 
(Form TA-W) currently cleared under OMB Control Number 3064-0027. The 
intention is to create a combined ICR that covers both the transfer 
agent registration and amendment form, and the transfer agent 
deregistration form. This combined ICR will retain the Office of 
Management and Budget (OMB) number OMB No. 3064-0026. The FDIC plans to 
discontinue OMB No. 3064-0027 once the combined OMB No. 3064-0026 is 
approved. This action will streamline the ICR process and contribute to 
enhanced operational efficiency of the FDIC.
    There is no change in the method or substance of the collection. 
The overall reduction in burden hours is the result of economic 
fluctuation. In particular, the decline in the estimated overall

[[Page 51416]]

annual time burden from 2 hours in 2020 and 2021 to 1 hour in 2022.
    2. Title: Application for a Bank to Establish a Branch or Move its 
Main Office or Branch.
    OMB Number: 3064-0070.
    Form Number: None.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

                                                           Summary of Estimated Annual Burden
                                                                   [OMB No. 3064-0070]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                             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 for consent to reduce or   Reporting (Mandatory)...  On Occasion............             436           1.461               5           3,185
 retire capital.
                                                                                         ---------------------------------------------------------------
    Estimated Total Annual Burden....  ........................  .......................  ..............  ..............  ..............           3,185
--------------------------------------------------------------------------------------------------------------------------------------------------------

    General Description of Collection: Section 18(d) of the Federal 
Deposit Insurance Act (12 U.S.C. 1828(d) (FDI Act) provides that no 
FDIC insured state nonmember bank or state savings association shall 
establish and operate any new domestic branch or move its main office 
or any such branch from one location to another without the prior 
written consent of the FDIC. In granting or withholding consent to the 
applicant, FDIC considers: (a) The financial history and condition of 
the depository institution; (b) the adequacy of its capital structure; 
(c) its future earnings prospects; (d) the general character and 
fitness of its management; (e) the risk presented by the depository 
institution to the Deposit Insurance Fund; (f) the convenience and 
needs of the community to be served; and (g) whether its corporate 
powers are consistent with the purposes of the FDI Act. FDIC 
regulations found at 12 CFR 303, subpart C, specify the steps that 
respondents must take to comply with the statutory mandate.
    There is no change in the method or substance of the collection. 
The overall reduction in burden hours is the result of economic 
fluctuation. In particular, the number of respondents has decreased 
while the hours per response and frequency of responses have remained 
the same.
    3. Title: Application for Consent to Reduce or Retire Capital.
    OMB Number: 3064-0079.
    Form Number: None.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0079]
----------------------------------------------------------------------------------------------------------------
                                                                                     Estimated         Total
  Information collection (IC)    Type of burden      Estimated       Number of       time per        estimated
          description            (obligation to      number of     responses per     response      annual burden
                                    respond)        respondents     respondent        (hours)         (hours)
----------------------------------------------------------------------------------------------------------------
Application for consent to      Reporting                     74            1.36              11           1,107
 reduce or retire capital.       (Required to
                                 Obtain or
                                 Retain a
                                 Benefit).
                                                 ---------------------------------------------------------------
    Estimated Total Annual      ................  ..............  ..............  ..............           1,107
     Burden.
----------------------------------------------------------------------------------------------------------------

    General Description of Collection: Insured state nonmember banks 
proposing to change their capital structure must submit an application 
containing information about the proposed change to obtain FDIC's 
consent to reduce or retire capital.
    There is no change in the method or substance of the collection. 
The overall reduction in burden hours is the result of economic 
fluctuation. In particular, the number of respondents has decreased 
while the hours per response and frequency of responses have remained 
the same.
    4. Title: Appraisals for Higher-Priced Mortgage Loans.
    OMB Number: 3064-0188.
    Form Number: None.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

                                              Estimated Number of Respondents and Responses per Respondent
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                             Estimated
                                           Type of burden                                    Estimated     annual number                     Estimated
     Item          IC description           (frequency of        Obligation to  respond    annual number   of responses   Estimated time  annual  burden
                      (section)               response)                                   of respondents        per        per response        hours
                                                                                                            respondent
--------------------------------------------------------------------------------------------------------------------------------------------------------
1............  Disclose to an          Third-party Disclosure  Mandatory................           3,018           14.54           0.017             746
                applicant for an HPML   (On Occasion).
                that the institution
                may obtain an
                appraisal for the
                property, 12 CFR part
                1026.35(c)(5)(i).
2............  Provide a copy of       Third-party Disclosure  Mandatory................           3,018           15.34            0.14           6,481
                written appraisal to    (On Occasion).
                the consumer, 12 CFR
                part 1026.35(c)(6)(i).
--------------------------------------------------------------------------------------------------------------------------------------------------------


[[Page 51417]]


                                         Estimated Number of Respondents and Responses per Respondent--Continued
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                             Estimated
                                           Type of burden                                    Estimated     annual number                     Estimated
     Item          IC description           (frequency of        Obligation to  respond    annual number   of responses   Estimated time  annual  burden
                      (section)               response)                                   of respondents        per        per response        hours
                                                                                                            respondent
--------------------------------------------------------------------------------------------------------------------------------------------------------
3............  Provide documentation   Third-party Disclosure  Optional.................           3,018            0.74           0.083             185
                of the property value   (On Occasion).
                to the consumer in
                lieu of an appraisal,
                12 CFR Part
                1026.35(c)(2)(viii)(B
                ).
                                                                                         ---------------------------------------------------------------
                  Total Estimated      ......................  .........................  ..............  ..............  ..............           7,412
                   Annual Burden
                   Hours:.
--------------------------------------------------------------------------------------------------------------------------------------------------------

    General Description of Collection: Section 1471 of the Dodd-Frank 
Act established a new Truth in Lending (TILA) section 129H, which 
contains appraisal requirements applicable to higher-risk mortgages and 
prohibits a creditor from extending credit in the form of a higher-risk 
mortgage loan to any consumer without meeting those requirements. A 
higher-risk mortgage is defined as a residential mortgage loan secured 
by a principal dwelling with an annual percentage rate (APR) that 
exceeds the average prime offer rate (APOR) for a comparable 
transaction as of the date the interest rate is set by certain 
enumerated percentage point spreads. The rule requires that, within 
three days of application, a creditor provide a disclosure that informs 
consumers regarding the purpose of the appraisal, that the creditor 
will provide the consumer a copy of any appraisal, and that the 
consumer may choose to have a separate appraisal conducted at the 
expense of the consumer. If a loan meets the definition of a higher-
risk mortgage loan, then the creditor would be required to obtain a 
written appraisal prepared by a certified or licensed appraiser who 
conducts a physical visit of the interior of the property that will 
secure the transaction, and send a copy of the written appraisal to the 
consumer. To qualify for the safe harbor provided under the rule, a 
creditor is required to review the written appraisal as specified in 
the text of the rule and appendix A. If a loan is classified as a 
higher-risk mortgage loan that will finance the acquisition of the 
property to be mortgaged, and the property was acquired within the 
previous 180 days by the seller at a price that was lower than the 
current sale price, then the creditor is required to obtain an 
additional appraisal. A creditor is required to provide the consumer a 
copy of the appraisal reports performed in connection with the loan, 
without charge, at least days prior to consummation of the loan.
    FDIC is revising this information collection to fully account for 
the scope of PRA burden delineated in Part 1036.35(c). As a result, two 
new items have been added to the burden table; two items previously 
listed separately have been combined into a single item; and one item, 
associated with Part 1026.35(c)(4)(iv), was deemed to not impose any 
additional recordkeeping, disclosure or reporting requirements, has 
been removed from the table. As a result of these revisions, the 
estimated annual burden has increased from 4,044 hours to 7,412 hours. 
The following is a summary of the revisions:
     The 2019 ICR did not include a line item associated with 
the disclosure requirement in Part 1026.35(c)(5)(i), which requires 
institutions to disclose the following statement, in writing, to a 
consumer who applies for a higher-priced mortgage loan (HPML): ``We may 
order an appraisal to determine the property's value and charge you for 
this appraisal. We will give you a copy of any appraisal, even if your 
loan does not close. You can pay for an additional appraisal for your 
own use at your own cost.'' FDIC has added a line item associated with 
this requirement to the burden table for the 2022 renewal.
     The 2019 ICR did not include a line item associated with 
Part 1026.35(c)(2)(viii)(B), which exempts institutions from the 
appraisal requirements for HPMLs secured by a manufactured home and not 
land if the institution obtains, and provides to the consumer no later 
than three business days prior to the consummation of the transaction, 
either: (1) For a new manufactured home, the manufacturer's invoice for 
the manufactured home securing the transaction, provided that the date 
of manufacture is no earlier than 18 months prior to the creditor's 
receipt of the consumer's application for credit; (2) A cost estimate 
of the value of the manufactured home securing the transaction obtained 
from an independent cost service provider, or; (3) A valuation of the 
manufactured home performed by a person who has no direct or indirect 
interest, financial or otherwise, in the property or transaction for 
which the valuation is performed and has training in valuing 
manufactured homes. FDIC has added a line item associated with this 
disclosure requirement to the burden table for the 2022 renewal.
     The 2019 ICR included two separate line items related to 
the disclosure requirement in Part 1026.35(c)(6)(i) for an institution 
to provide a copy to the applicant of any appraisal obtained pursuant 
to Parts 1026.35(c)(3) and 1026.35(c)(4). The 2019 ICR included one 
line item for the disclosure requirements for appraisals obtained 
pursuant to Part 1026.35(c)(3) and another for appraisals obtained 
pursuant to Part 1026.35(c)(4). FDIC has combined these two line items 
into a single line item for the 2022 renewal.
     The 2019 ICR included a line item associated with the 
requirement in Part 1026.35(c)(4)(iv) for one of the two appraisals for 
a property for which two appraisals are required under Part 
1026.(c)4(i) to include an analysis of: (1) The difference between the 
price at which the seller acquired the property and the price that the 
consumer is obligated to pay to acquire the property, as specified in 
the consumer's agreement to acquire the property from the seller; (2) 
Changes in market conditions between the date the seller acquired the 
property and the date of the consumer's agreement to acquire the 
property; and (3) Any improvements made to the property between the 
date the seller acquired the property and the date of the consumer's 
agreement to acquire the property. FDIC has determined that Part 
1026.35(c)(4)(iv) does not impose any additional recordkeeping, 
disclosure, or reporting requirements on members of the public and has 
removed the line item associated with this requirement from the burden 
table for the 2022 renewal.

Request for Comment

    Comments are invited on: (a) Whether the collections of information 
are 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 collections, 
including the validity of the methodology and assumptions used; (c) 
ways to enhance the quality, utility, and

[[Page 51418]]

clarity of the information to be collected; and (d) ways to minimize 
the burden of the collections 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, August 16, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-17948 Filed 8-19-22; 8:45 am]
BILLING CODE 6714-01-P