[Federal Register Volume 89, Number 203 (Monday, October 21, 2024)]
[Notices]
[Pages 84136-84139]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-24256]
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FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0028; -0109; -0124; -0134; -0162; -0179; -0195]
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.
3064-0028, -0109, -0124, -0134, -0162, -0179 and -0195). The notices of
proposed renewal for these information collections were previously
published in the Federal Register on August 21, 2024, and September 9,
2024, allowing for a 60-day comment period.
DATES: Comments must be submitted on or before November 20, 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: Recordkeeping and Confirmation Requirements for
Securities Transactions.
OMB Number: 3064-0028.
Form Number: None.
Affected Public: FDIC-Insured Institutions and Certain Employees of
the FDIC-Insured Institutions.
Burden Estimate:
Summary of Estimated Annual Burden (OMB No. 3064-0028)
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Number of Time per Annual
Information collection (IC) Type of burden Number of responses per response burden
(obligation to respond) (frequency of response) respondents respondent (HH:MM) (hours)
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1. Maintain Securities Trading Recordkeeping (On 632 1 1:00 632
Policies and Procedures, 12 CFR Occasion).
344.8 (Mandatory).
2. Officer/Employee Filing of Reports Third Party Disclosure 1,896 4 1:00 7,584
of Personal Securities Trading, 12 (On Occasion).
CFR 344.9 (Mandatory).
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Total Annual Burden (Hours)...... ....................... ........... .............. ......... 8,216
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Source: FDIC.
General Description of Collection: The collection of information
requirements is contained in 12 CFR part 344. The purpose of the
regulation is to ensure that purchasers of securities in transactions
affected by insured State nonmember banks are provided with adequate
records concerning the transactions. The regulation is also designed to
ensure that insured State nonmember banks maintain adequate records and
controls with respect to the securities transactions they effect.
Finally, this regulation requires officers and employees of FDIC-
supervised institutions to report to the FDIC-supervised institution
certain personal securities trading activity. There is no change in the
methodology or substance of this information collection. The decrease
in total estimated annual burden from 8,583 hours in 2021 to 8,216
hours currently is due to a
[[Page 84137]]
decrease in estimated number of respondents.
2. Title: Notice of Branch Closure.
OMB Number: 3064-0109.
Form Number: None.
Affected Public: FDIC-insured depository institutions.
Burden Estimate:
Summary of Estimated Annual Burden (OMB No. 3064-0109)
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Number of Time per Annual
Information collection (IC) Type of burden Number of responses per response burden
(obligation to respond) (frequency of response) respondents respondent (HH:MM) (hours)
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1. Notice of Branch Closure to FDIC, Reporting (On Occasion) 276 2.99 00:30 413
12 U.S.C. 1831r-(a) (Mandatory).
2. Notice of Branch Closure to Disclosure (On 276 2.99 1:30 1,238
Customers, 12 U.S.C. 1831r-(b) Occasion).
(Mandatory).
3. Adoption of Branch Closure Policy, Recordkeeping (Annual). 18 1 08:00 144
12 U.S.C. 1831r-1 (Mandatory).
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Total Annual Burden (Hours)...... ....................... ........... .............. ......... 1,795
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Source: FDIC.
General Description of Collection: Section 42 of the Federal
Deposit Insurance Act mandates that an insured depository institution
closing a branch notify its primary Federal regulator not later than 90
days prior to the closing. The statute also provides that a notice be
posted on the premises of the branch for the 30-day period immediately
prior to the closing and that the customers be notified in a mailing at
least 90 days prior to the closing. Each insured depository institution
that has one or more branches is required to adopt a written policy for
branch closings. There is no change in the methodology or substance of
this information collection. The increase in total estimated annual
burden from 1,738 hours in 2021 to 1,795 hours currently is due to an
increase in estimated number or respondents.
3. Title: Notice of Branch Closure.
OMB Number: 3064-0124.
Form Number: None.
Affected Public: Insured depository institutions.
Burden Estimate:
Summary of Estimated Annual Burden (OMB No. 3064-0124)
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Number of Time per Annual
Information collection (IC) Type of burden Number of responses per response burden
(obligation to respond) (frequency of response) respondents respondent (HH:MM) (hours)
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Certification of Assumption of Reporting (On occasion) 162 1 1:00 162
Deposit Liabilities 12 CFR 307.2
(Mandatory).
Notice to Depositors 12 CFR 307.3 Disclosure (On 12 1 2:00 24
(Mandatory). occasion).
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Total Annual Burden (Hours)...... 186....................
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Source: FDIC.
General Description of Collection: This information collection
consists of two parts: (1) a certification that insured depository
institutions provide the FDIC when all deposit liabilities from one
insured depository institution are assumed from another insured
depository institution, with the latter institution responsible for
providing the certification; and (2) a notification that an insured
depository institution provides to its depositors when it seeks to
voluntarily terminate its insured status. The certification is
necessary to implement the provisions of section 8(q) of the Federal
Deposit Insurance Act, 12 U.S.C. 1818(q), regarding termination of the
insured status of the transferring institution and termination of the
separate deposit insurance coverage provided on deposit accounts
assumed by the assuming institution. The depositor notification is
required by section 8(a)(6) of the Federal Deposit Insurance Act, 12
U.S.C. 1818(a)(6). This provision ensures that the institution's
depositors receive appropriate information regarding the institution's
intent to terminate its insured status and that, prior to the
termination of the institution's insured status, depositors receive
appropriate information concerning Federal deposit insurance coverage
of their accounts once the institution's insured status is terminated.
There is no change in the methodology or substance of this information
collection. The decrease in total estimated annual burden from 256 in
2021 to 186 currently is due to a change in the estimated number or
respondents.
4. Title: Extension without change of a currently approved
collection.
OMB Number: 3064-0134.
Form Number: 6422/04; 6422/11; 6422/15
Affected Public: Individuals, Households, Business or Financial
Institutions.
Burden Estimate:
Summary of Estimated Annual Burden (OMB No. 3064-0134)
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Number of Time per Annual
Information collection (IC) Type of burden Number of responses per response burden
(obligation to respond) (frequency of response) respondents respondent (HH:MM) (hours)
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1. Customer Assistance Form (6422/04) Reporting (On Occasion) 8,566 1 00:15 2,142
(Voluntary).
2. Business Assistance Form (6422/11) Reporting (On Occasion) 1,191 1 00:15 298
(Voluntary).
3. FDIC Deposit Insurance Form (6422/ Reporting (On Occasion) 1,465 1 00:15 366
15) (Voluntary).
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Total Annual Burden (Hours)...... ....................... ........... .............. ......... 2,806
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Source: FDIC.
[[Page 84138]]
General Description of Collection: This collection facilitates the
collection of information from customers of financial institutions that
have inquiries or complaints about service. Customers or businesses may
document their complaints or inquiries to the FDIC using a letter or
optional forms (Form 6422/04, Form 6422/11, Form 6422/15). The forms
are used to facilitate online completion and submission of the
complaints or inquiries and to shorten FDIC response times by making it
easier to identify the nature of the complaint and to route the
customer or business inquiry to the appropriate FDIC contact. There is
no change in the methodology or substance of this information
collection. The increase in total estimated annual burden from 1,468 in
2021 to 2,806 currently is due to an increase in the estimated number
or respondents.
5. Title: Large-Bank Deposit Insurance Programs.
OMB Number: 3064-0162.
Form Number: None.
Affected Public: Insured depository institutions having at least $2
billion in deposits and at least either (a) 250,000 Deposit accounts;
or (b) $20 billion in total assets, regardless of the number of deposit
accounts (a ``covered institution'').
Burden Estimate:
Summary of Estimated Annual Burden (OMB No. 3064-0162)
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Number of Time per Annual
Information collection (IC) Type of burden Number of responses per response burden
(obligation to respond) (frequency of response) respondents respondent (HH:MM) (hours)
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1. Posting and removing provisional Recordkeeping (One 8 1 150:00 1,200
holds--Implementation--12 CFR time).
360.9(c)(1) and (2) (Mandatory).
2. Providing standard data format for Recordkeeping (One 8 1 110:00 880
deposit account and customer time).
information--Implementation--12 CFR
360.9(d)(1) (Mandatory).
3. Notification of identity of person Reporting (One time)... 8 1 8:00 64
responsible for producing standard
data downloads--Implementation--12
CFR 360.9(c)(3) (Mandatory).
4. Provide deposit account and Reporting (On Occasion) 8 1 40:00 320
customer information in required
standard format--Implementation--12
CFR 360.9(d)(3) (Mandatory).
5. Request for exemption from Reporting (On Occasion) 1 1 20:00 20
provisional hold requirements--
Implementation--12 CFR 360.9(c)(9)
(Voluntary).
6. Request for extension of Reporting (On Occasion) 1 1 20:00 20
compliance deadline--Implementation--
12 CFR 360.9(e)(7) (Voluntary).
7. Request for exemption-- Reporting (On Occasion) 1 1 20:00 20
Implementation 12 CFR 360.9(f)
(Voluntary).
8. Notification of identity of person Reporting (Annual)..... 123 1 8:00 984
responsible for producing standard
data downloads--Ongoing--12 CFR
360.9(c)(3) (Mandatory).
9. Request for exemption from Reporting (On Occasion) 1 1 20:00 20
provisional hold requirements--
Ongoing--12 CFR 360.9(c)(9)
(Voluntary).
10. Request for exemption--Ongoing-- Reporting (On Occasion) 1 1 20:00 20
12 CFR 360.9(f) (Voluntary).
11. Test compliance with 12 CFR 360.9 Reporting (Annual)..... 30 1 80:00 2,400
(c)-(d) pursuant to 12 CFR 360.9(h)--
Ongoing--12 CFR 360.9 (h)
(Mandatory).
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Total Annual Burden (Hours)...... ....................... ........... .............. ......... 5,948
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Source: FDIC.
General Description of Collection: Upon the failure of an FDIC-
insured depository institution, the FDIC is required to pay insured
deposits as soon as possible. To do so, the FDIC must be able to
quickly determine the total insured amount for each depositor. To make
this determination, the FDIC must ascertain the balances of all deposit
accounts owned by the same depositor in the same ownership capacity at
a failed institution as of the day of failure. The FDIC issued a
regulation (12 CFR 360.9) to modernize the process of determining the
insurance status of each depositor in the event of failure of a covered
institution. The regulations enable operations of a large insured
depository institution to continue functioning on the day following
failure, support the FDIC's efforts to fulfill its legal mandates
regarding the resolution of failed insured deposit institutions, and
apply to the largest institutions only ($2 billion in domestic deposits
or more). More specifically, the regulations require the largest
insured depository institutions to adopt mechanisms that would, in the
event of the institution's failure (1) provide the FDIC with standard
deposit account and customer information, and (2) allow the FDIC to
place and release holds on liability accounts, including deposits.
There is no change in the methodology or substance of this information
collection. The decrease in total estimated annual burden from 6,464
hours in 2021 to 5,948 hours currently is due to a decrease in
estimated number of respondents.
6. Title: Assessment Rate Adjustment Guidelines for Large and
Highly Complex Institutions.
OMB Number: 3064-0179.
Form Number: None.
Affected Public: Large and highly complex depository institutions.
Burden Estimate:
Summary of Estimated Annual Burden (OMB No. 3064-0179)
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Number of Time per Annual
Information collection (IC) Type of burden Number of responses per response burden
(obligation to respond) (frequency of response) respondents respondent (HH:MM) (hours)
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1. Assessment Rate Adjustment Reporting (On Occasion) 1 1 80:00 80
Guidelines for Large and Highly
Complex Institutions, 12 CFR 327
(Required to obtain or retain
benefits).
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Total Annual Burden (Hours)...... ....................... ........... .............. ......... 80
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Source: FDIC.
[[Page 84139]]
General Description of Collection: The FDIC's deposit insurance
assessment authority is set forth in section 7 of the Federal Deposit
Insurance Act, 12 U.S.C. 1817(b) and (c), and promulgated in
regulations under 12 CFR part 327. These regulations also set out the
process for making adjustments to the total score of these institutions
used by the FDIC in making deposit insurance assessments. Depository
institutions are permitted to make a written request to the FDIC for an
assessment adjustment. An institution is able to request review of, or
appeal, an upward adjustment, the magnitude of an upward adjustment,
removal of a previously implemented downward adjustment, or an increase
in a previously implemented upward adjustment through the FDIC's
internal review process set forth at 12 CFR 327.4(c). An institution
can similarly request review of, or appeal, a decision not to apply an
adjustment following a request by the institution for an adjustment. An
institution can submit its written request for an adjustment to the
FDIC's Director of the Division of Insurance and Research in
Washington, DC. In making such a request, the institution will provide
support by including evidence of a material risk or risk mitigating
factor that it believes was not adequately considered. There is no
change in the methodology or substance of this information collection.
The decrease in total estimated annual burden from 160 hours in 2021 to
80 hours currently is due to a decrease in estimated number or
respondents.
7. Title: Minimum Requirements for Appraisal Management Companies.
OMB Number: 3064-0195.
Form Number: None.
Affected Public: Individuals or households; business or other for
profit.
Burden Estimate:
Summary of Estimated Annual Burden (OMB No. 3064-0195)
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Number of Time per Annual
Information collection (IC) Type of burden Number of responses per response burden
(obligation to respond) (frequency of response) respondents respondent (HH:MM) (hours)
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1. Written Notice of Appraiser Disclosure (On 8,481 1 00:05 707
Removal from Network or Panel, 12 occasion).
CFR 323.10 (Mandatory).
2. Develop and Maintain a State Recordkeeping (On 1 1 40:00 40
Licensing Program, 12 CFR 323.11(a) occasion).
and (b) (Mandatory).
3. AMC Disclosure Requirements (State- Disclosure (On 1,206 1 01:00 1,206
regulated AMCs), 12 CFR 323.12 occasion).
(Mandatory).
4. AMC Disclosure Requirements Disclosure (On 38 1 01:00 38
(Federally regulated AMCs), 12 CFR occasion).
323.13(c) (Mandatory).
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Total Annual Burden (Hours)...... ....................... ........... .............. ......... 1,991
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Source: FDIC.
General Description of Collection: This information collection
comprises recordkeeping and disclosure requirements under regulations
issued by the (FDIC, jointly with the Office of the Comptroller of the
Currency, the Board of Governors of the Federal Reserve System, the
National Credit Union Administration, the Bureau of Consumer Financial
Protection, and the Federal Home Finance Agency that implement the
minimum requirements in section 1473 of the Dodd-Frank Wall Street
Reform and Consumer Protection Act (Dodd-Frank Act) to be applied by
States in the registration and supervision of appraisal management
companies (AMCs). The regulations also implement the requirement in
section 1473 of the Dodd-Frank Act for States to report to the
Appraisal Subcommittee of the Federal Financial Institutions
Examination Council the information required by the ASC to administer
the new national registry of AMCs. The information collection
requirements are established in 12 CFR part 323 of the FDIC's codified
regulations. There is no change in the methodology or substance of this
information collection. The decrease in total estimated annual burden
from 2,457 in 2021 to 1,991 currently is due to a change in the
estimated number or respondents.
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 15, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-24256 Filed 10-18-24; 8:45 am]
BILLING CODE 6714-01-P