[Federal Register Volume 89, Number 48 (Monday, March 11, 2024)]
[Notices]
[Pages 17467-17468]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-05115]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0097; -0115]


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. 
3064-0097 and -0115).

DATES: Comments must be submitted on or before May 10, 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.
    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: Interagency Notice of Change in Director or Executive 
Officer.
    OMB Number: 3064-0097.
    Forms: 6822/02.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0097]
----------------------------------------------------------------------------------------------------------------
                                 Type of burden                      Number of       Time per
  Information collection (IC)     (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
----------------------------------------------------------------------------------------------------------------
1. Interagency Notice of        Reporting (On                 23             2.7           02:00             124
 Change in Director or           Occasion).
 Executive Officer, 12 USC
 1831i (Mandatory).
                                                 ---------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............             124
     (Hours).
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Source: FDIC.

    General Description of Collection: Section 32 of the FDIA (12 
U.S.C. 1831i) requires an insured depository institution or depository 
institution holding company under certain circumstances to notify the 
appropriate federal banking agency of the proposed addition of any 
individual to the board of directors or the employment of any 
individual as a senior executive officer of such institution at least 
30 days before such addition or employment becomes effective. Section 
32 of the FDIA also provides that the FDIC may disapprove an 
individual's service as a director or senior executive officer of 
certain state nonmember banks or state savings associations if, upon 
assessing

[[Page 17468]]

the individual's competence, experience, character, and integrity, it 
is determined that the individual's service would not be in the best 
interest of the depositors of the institution or the public. The 
Interagency Notice of Change in Director or Senior Executive Officer, 
with the information contained in the Interagency Biographical and 
Financial Report (described above) as an attachment, is used by the 
FDIC to collect information relevant to assess the individual's 
competence, experience, character, and integrity. There is no change in 
the methodology or substance of this information collection. The 
reduction in estimated annual burden (from 214 hours in 2021 to 124 
hours currently) is due to the decrease in the estimated number of 
annual responses.
    2. Title: Prompt Corrective Action.
    OMB Number: 3064-0115.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0115]
----------------------------------------------------------------------------------------------------------------
                                 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)
----------------------------------------------------------------------------------------------------------------
Prompt Corrective Action, 12    Reporting                      4               4           04:00              64
 USC 1831o (Voluntary).          (Annual).
                                                 ---------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............              64
     (Hours).
----------------------------------------------------------------------------------------------------------------
Source: FDIC.

    General Description of Collection: The Prompt Corrective Action 
(PCA) provisions of section 38 of the Federal Deposit Insurance Act 
requires or permits the FDIC and other federal banking agencies to take 
certain supervisory actions when FDIC-insured institutions fall within 
certain capital categories. They also restrict or prohibit certain 
activities and require the submission of a capital restoration plan 
when an insured institution becomes undercapitalized. Various 
provisions of the statute and the FDIC's implementing regulations 
require the prior approval of the FDIC before an FDIC-supervised 
institution, or certain insured depository institutions, can engage in 
certain activities, or allow the FDIC to make exceptions to 
restrictions that would otherwise be imposed. This collection of 
information consists of the applications that are required to obtain 
the FDIC's prior approval to engage in these activities. There is no 
change in the methodology or substance of this information collection. 
The estimated burden remains unchanged from 2021.

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 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, on March 6, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-05115 Filed 3-8-24; 8:45 am]
BILLING CODE 6714-01-P