[Federal Register Volume 87, Number 201 (Wednesday, October 19, 2022)]
[Notices]
[Pages 63495-63498]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-22639]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0026; -0070; -0079; -0188; -0211]


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, 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. 
3064-0026, -0070, -0079, -0188 and -0211). The notice of the proposed 
renewal for these information collections was previously published in 
the Federal Register on August 22, 2022, and August 29, 2022, allowing 
for a 60-day comment period.

DATES: Comments must be submitted on or before November 18, 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 a.m. and 5 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 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 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' 
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.

[[Page 63496]]

To accomplish the registration of transfer agents, Form TA-1 was 
developed in 1975 as an interagency effort by the Securities and 
Exchange Commission 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 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]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                         Type of burden                                                      Number of
 Information collection description      (obligation to         Frequency  of response       Number of     responses per     Hours per    Annual  burden
                                            respond)                                        respondents     respondent       response         (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Application for consent to reduce    Reporting (Mandatory).  On Occasion................             436           1.461               5           3,185
 or retire capital.
                                                                                         ---------------------------------------------------------------
    Estimated Total Annual Burden..  ......................  ...........................  ..............  ..............  ..............           3,185
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    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:

[[Page 63497]]



                                              Estimated Number of Respondents and Responses per Respondent
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                                                                                                         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              per         per  response         hours
                                                                                        respondents     respondent
--------------------------------------------------------------------------------------------------------------------------------------------------------
1..............  Disclose to an           Third-party         Mandatory.............           3,018           14.54             0.017               746
                  applicant for an HPML    Disclosure (On
                  that the institution     Occasion).
                  may obtain an
                  appraisal for the
                  property, 12 CFR Part
                  1026.35(c)(5)(i).
2..............  Provide a copy of        Third-party         Mandatory.............           3,018           15.34              0.14             6,481
                  written appraisal to     Disclosure (On
                  the consumer, 12 CFR     Occasion).
                  Part 1026.35(c)(6)(i).
3..............  Provide documentation    Third-party         Optional..............           3,018            0.74             0.083               185
                  of the property value    Disclosure (On
                  to the consumer in       Occasion).
                  lieu of an appraisal,
                  12 CFR Part
                  1026.35(c)(2)(viii)(B).
-----------------------------------------                    -------------------------------------------------------------------------------------------
    Total Estimated Annual Burden.......  ..................  ......................  ..............  ..............  ................             7,412
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    General Description of Collection: Section 1471 of the Dodd-Frank 
Act established a new Truth in Lending 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 that exceeds the 
average prime offer rate 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

[[Page 63498]]

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.
    5. Title: Generic Clearance for Prize Competition Participation.
    OMB Number: 3064-0211.
    Affected Public: Innovators; technologists, coders, engineers and 
developers; consumers of financial services; consumer advocates; 
academics; members of trade groups and other associations; individuals 
connected to financial institutions, community banks, and financial and 
bank service and technology providers; software, data, and technology 
firms; and other members of the public.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0211]
----------------------------------------------------------------------------------------------------------------
    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        (hours)         (hours)
----------------------------------------------------------------------------------------------------------------
Innovation Prize Competitions   Reporting                  1,500               1              20          30,000
 (Voluntary).                    (Occasional).
----------------------------------------------------------------------------------------------------------------

    General Description of Collection: The FDIC seeks to extend, 
without change, its generic clearance for the collection of information 
requested from potential participants in FDIC-sponsored or co-sponsored 
prize competitions of various types, including point solution 
competitions (designed to spur the development of solutions for a 
particular problem) and exposition (designed competitions to identify 
and promote a broad range of ideas and practices to facilitate further 
development by third parties). Prize competitions and the opportunity 
to submit applications to participate will be announced on the agency's 
publicly accessible government website, as well as possibly through 
other forms of public communication, such as publication in the Federal 
Register, issuance of Financial Institution Letters, use of 
challenge.gov website maintained by the U.S. General Services 
Administration, or social media advertisement. In order for the FDIC to 
determine which applicants will be eligible and selected to participate 
in FDIC prize competitions, the FDIC will request that potential 
participants provide their name, contact information, address, and such 
other information that may be necessary to evaluate applicants' 
qualifications and ability to participate in the event as well as to 
match the applicants' anticipated role to the needs of the competition. 
Applicants will also be asked to acknowledge the terms and conditions 
of participating in the prize competition. Information will be 
collected during prize competitions through the solutions to the 
challenges or problems presented. This information collection will be 
voluntary. Collection in the form of application will be conducted 
primarily online with alternative methods made available. Collection 
during the events will be in-person or electronic. The FDIC will 
consult with OMB regarding each specific information collection during 
the approval period. The FDIC estimates that over the three-year 
clearance period of this request, up to five (5) competitions will be 
conducted across various divisions of the agency, involving a variety 
of topics and challenges associated with underserved communities and 
financial inclusion; consumer protection; the FDIC's use of information 
technology and data (including artificial intelligence and machine 
learning); and financial and technologically-driven innovation in 
banking. The total hourly burden attributed to this generic clearance 
will be approximately 30,000 hours (an estimated average of 6,000 hours 
per prize competition x 5 competitions per year). There is no change in 
the method or substance of the collection. The estimated annual burden 
remains 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.

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on October 13, 2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022-22639 Filed 10-18-22; 8:45 am]
BILLING CODE 6714-01-P