[Federal Register Volume 89, Number 33 (Friday, February 16, 2024)]
[Notices]
[Pages 12336-12338]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-03283]


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

FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0022; -0137; -0148]


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, 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. 
3064-0022; -0137; -0148). The notices of the proposed renewal for these 
information collections were previously published in the Federal 
Register on December 14, 2023, allowing for a 60-day comment period.

[[Page 12337]]


DATES: Comments must be submitted on or before March 18, 2024.

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.
    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: Uniform Application/Uniform Termination for Municipal 
Securities Principal or Representative.
    OMB Number: 3064-0022.
    Forms: 6200/54; 6200/55.
    Affected Public: Individuals, Insured state nonmember banks and 
state savings associations.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0022]
----------------------------------------------------------------------------------------------------------------
                                 Type of burden                      Number of       Time per
    Information collection        (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
----------------------------------------------------------------------------------------------------------------
Uniform Application for         Reporting (On                  1               1            1:00               1
 Municipal Securities            Occasion).
 Principal or Representative
 (Form MSD-4) (Mandatory).
Uniform Termination Notice for  Reporting (On                  1               1            1:00               1
 Securities Principal or         Occasion).
 Representative (Form MSD-5)
 (Mandatory).
                                                 ---------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............               2
     (Hours).
----------------------------------------------------------------------------------------------------------------
Source: FDIC.

    General Description of Collection: The 1975 Amendments to the 
Securities Exchange Act of 1934 established a comprehensive framework 
for the regulation of the activities of municipal securities dealers. 
Under Section 15B(a) of the Securities Exchange Act, municipal 
securities dealers which are banks, or separately identifiable 
departments or divisions of banks engaging in municipal securities 
activities, are required to be registered with the Securities and 
Exchange Commission in accordance with such rules as the Municipal 
Securities Rulemaking Board (MSRB), a rulemaking authority established 
by the 1975 Amendments, may prescribe as necessary or appropriate in 
the public interest or for the protection of investors. One of the 
areas in which the Act directed the MSRB to promulgate rules is the 
qualifications of persons associated with municipal securities dealers 
as municipal securities principals and municipal securities 
representatives. The MSRB Rules require persons who are or seek to be 
associated with municipal securities dealers as municipal securities 
principals or municipal securities representatives to provide certain 
background information and conversely, require the municipal securities 
dealers to obtain the information from such persons. Generally, the 
information required to be furnished relates to employment history and 
professional background including any disciplinary sanctions and any 
claimed bases for exemption from MSRB examination requirements. The 
FDIC and the other two Federal bank regulatory agencies, the 
Comptroller of the Currency, and the Federal Reserve Board, have 
prescribed Forms MSD-4 to satisfy these requirements and have 
prescribed Form MSD-5 for notification by a bank municipal securities 
dealer that a municipal securities principal's or a municipal 
securities representative's association with the dealer has terminated 
and the reason for such termination. State nonmember banks and state 
savings associations that are municipal security dealers submit these 
forms, as applicable, to the FDIC as their appropriate regulatory 
agency for each person associated with the dealer as a municipal 
securities principal or municipal securities representative. There is 
no change in the methodology or substance of this information 
collection. This reduction in estimated annual burden (from 4 hours in 
2021 to 2 hours currently) is due to the decrease in the estimated 
number of respondents.
    2. Title: Interagency Guidance on Asset Securitization Activities.
    OMB Number: 3064-0137.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

[[Page 12338]]



                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0137]
----------------------------------------------------------------------------------------------------------------
                                 Type of burden                      Number of       Time per
    Information collection        (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
----------------------------------------------------------------------------------------------------------------
1. Documentation of Fair        Recordkeeping                 19               1           04:00              76
 Value, ``Valuation and          (On Occasion).
 Modeling Processes,'' pp. 6-7
 (Voluntary).
2. Asset Securitization         Recordkeeping                  5               1           32:00             160
 Policies--Implementation,       (On Occasion).
 ``Independent Risk Management
 Function,'' pg. 4 (Voluntary).
3. Asset Securitization         Recordkeeping                  2               1           03:00               6
 Policies--Ongoing,              (On Occasion).
 ``Independent Risk Management
 Function,'' pg. 4 (Voluntary).
4. MIS Improvements--           Recordkeeping                  5               1           21:00             105
 Implementation, ``Independent   (On Occasion).
 Risk Management Function,''
 pp. 4-6 (Voluntary).
5. MIS Improvements--Ongoing,   Recordkeeping                  2               1           05:00              10
 ``Independent Risk Management   (On Occasion).
 Function,'' pp. 4-6, and
 ``Audit Function or Internal
 Review,'' pg. 8 (Voluntary).
                                                 ---------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............             357
     (Hours).
----------------------------------------------------------------------------------------------------------------
Source: FDIC.

    General Description of Collection: The Interagency Guidance on 
Asset Securitization Activities informs bankers and examiners of safe 
and sound practices regarding asset Securitization. The information 
collections contained in the Interagency Guidance are needed by 
institutions to manage their asset Securitization activities in a safe 
and sound manner. Bank management uses this information as the basis 
for the safe and sound operation of their asset securitization 
activities and to ensure that they minimize operational risk in these 
activities. There is no change in the method or substance of the 
information collection. The 94-hour increase in estimated annual burden 
(from 263 hours in 2021 to 357 hours currently) is the result of 
economic fluctuation. In particular, the number of respondents has 
increased while the reporting frequency and the estimated time per 
response remain the same.
    3. Title: Interagency Statement on Sound Practices Concerning 
Complex Structured Finance Transactions,
    OMB Number: 3064-0148,
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0148]
----------------------------------------------------------------------------------------------------------------
                                 Type of burden                      Number of       Time per
    Information collection        (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
----------------------------------------------------------------------------------------------------------------
Complex Structured Finance      Reporting (On                  1               1           25:00              25
 Transactions (Voluntary).       occasion).
                                                 ---------------------------------------------------------------
Total Annual Burden (Hours)...  ................  ..............  ..............  ..............              25
----------------------------------------------------------------------------------------------------------------
Source: FDIC.

    General Description of Collection: The Interagency Statement on 
Sound Practices Concerning Complex Structured Finance Transactions 
describes the types of internal controls and risk management procedures 
that the Agencies believe are particularly effective in assisting 
financial institutions to identify, evaluate, assess, document, and 
control the full range of credit, market, operational, legal and 
reputation al risks. A financial institution that engages in complex 
structured finance transactions should maintain a set of formal, 
written, firm-wide policies and procedures that are designed to allow 
the institution to identify and assess these risks. There is no change 
in the methodology or substance of this information collection. The 
estimated annual burden is unchanged.
    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 February 13, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-03283 Filed 2-15-24; 8:45 am]
BILLING CODE 6714-01-P