Agency Information Collection Activities: Proposed Collection Renewals; Comment Request, 18529-18531 [E8-7003]
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Federal Register / Vol. 73, No. 66 / Friday, April 4, 2008 / Notices
This is a
summary of the Second Order on
Reconsideration of the Second Report
and Order released on March 26, 2008.
The complete text of the Second Order
on Reconsideration of the Second
Report and Order is available for public
inspection and copying from 8 a.m. to
4:30 p.m. ET Monday through Thursday
or from 8 a.m. to 11:30 a.m. ET on
Fridays in the FCC Reference
Information Center, Portals II, 445 12th
Street, SW., Room CY–A257,
Washington, DC 20554. The Second
Order on Reconsideration of the Second
Report and Order may be purchased
from the Commission’s duplicating
contractor, Best Copy and Printing, Inc.
(BCPI), Portals II, 445 12th Street, SW.,
Room CY–B402, Washington, DC 20554,
telephone 202–488–5300, facsimile
202–488–5563, or you may contact BCPI
at its Web site: https://
www.BCPIWEB.com. When ordering
documents from BCPI, please provide
the appropriate FCC document number,
for example, FCC 08–92. The Second
Order on Reconsideration of the Second
Report and Order is also available on
the Internet at the Commission’s Web
site: https://wireless.fcc.gov/auctions.
ebenthall on PRODPC61 with NOTICES
SUPPLEMENTARY INFORMATION:
Overview
1. The Second Order on
Reconsideration of the Second Report
and Order formally denies a Petition for
Expedited Reconsideration (Petition)
filed by Council Tree Communications,
Inc., Bethel Native Corporation, and the
Minority Media and
Telecommunications Council
(collectively, the Joint Petitioners).
2. The Petition sought reconsideration
of various Commission decisions made
in the Second Report and Order
released on April 25, 2006, FR 71, 26245
(May 4, 2006), which modified the
Commission’s part 1 competitive
bidding rules governing designated
entities, including rules on eligibility for
benefits and unjust enrichment. Joint
Petitioners filed their Petition on May 5,
2006. On June 2, 2006, prior to the
deadline for filing petitions for
reconsideration of the Second Report
and Order, the Commission released,
sua sponte, an Order on
Reconsideration, FR 71 34262 (June 14,
2006), which considered and rejected
the arguments included in the Petition
without formally denying the Petition.
3. In a July 2006 letter to the
Commission, Joint Petitioners stated
that the Commission had already
decided the merits of the Petition and
that the Joint Petitioners were no longer
VerDate Aug<31>2005
15:24 Apr 03, 2008
Jkt 214001
seeking reconsideration. Accordingly,
Joint Petitioners asked that the
Commission formally dispose of their
Petition in order to take the de jure
action already taken de facto by the
Commission. The Commission agreed
with Joint Petitioners that it had already
decided the merits of the Petition in the
Order on Reconsideration and that the
Order on Reconsideration had
conclusively rejected the Joint
Petitioners’ legal arguments.
4. Accordingly, it is ordered that
pursuant to Sections 4(i), 5(b), 5(c)(1),
303(r), and 309(j) of the
Communications Act, as amended, 47
U.S.C. 154(i), 155(b), 155(c)(1), 303(r),
and 309(j), the Petition is hereby denied.
Federal Communications Commission.
Marlene H. Dortch,
Secretary.
[FR Doc. E8–7058 Filed 4–3–08; 8:45 am]
BILLING CODE 6712–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities: Proposed Collection
Renewals; Comment Request
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice and request for comment.
AGENCY:
SUMMARY: The FDIC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other Federal
agencies to take this opportunity to
comment on continuing information
collections, as required by the
Paperwork Reduction Act of 1995 (44
U.S.C. chapter 35). Currently, the FDIC
is soliciting comments concerning the
following collections of information
titled: ‘‘Flood Insurance,’’ OMB No.
3064–120, and ‘‘Forms Relating to
Processing Deposit Insurance Claims,’’
OMB No. 3064–0143.
DATES: Comments must be submitted on
or before June 3, 2008.
ADDRESSES: Interested parties are
invited to submit written comments to
the FDIC by any of the following
methods. All comments should refer to
the name of the collection:
• https://www.FDIC.gov/regulations/
laws/federal/notices.html.
• E-mail: comments@fdic.gov.
Include the name of the collection in the
subject line of the message.
• Mail: Leneta G. Gregorie (202–898–
3719), Counsel, Room F–1064, Federal
PO 00000
Frm 00040
Fmt 4703
Sfmt 4703
18529
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 Building
(located on F Street), on business days
between 7 a.m. and 5 p.m.
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:
Leneta G. Gregorie, at the telephone
number and address identified above.
SUPPLEMENTARY INFORMATION:
Proposal to renew the following
currently approved collections of
information:
1. Title: Flood Insurance.
OMB Number: 3064–0120.
Frequency of Response: On occasion.
Affected Public: Any depository
institution that makes one or more loans
to be secured by a building located on
property in a special flood hazard area.
Estimated Number of Respondents/
Recordkeepers: 5,272.
Estimated Number of Transactions:
180,000.
Estimated Reporting Hours: .05 hours
× 180,000 = 9,000.
Estimated Recordkeeping Hours: 1
hour × 5,272 hours = 5,272 hours.
Estimated Total Annual Reporting
and Recordkeeping Burden Hours: 5,272
+ 9,000 = 14,272 hours.
General Description of Collection:
Each supervised lending institution is
currently required to provide a notice of
special flood hazards to each borrower
with a loan secured by a building or
mobile home located or to be located in
an area identified by the Director of the
Federal Emergency Management
Administration as being subject to
special flood hazards. The Riegle
Community Development Act requires
that each institution must also provide
a copy of the notice to the servicer of the
loan (if different from the originating
lender).
2. Title: Forms Relating to Processing
Deposit Insurance Claims.
OMB Number: 3064–0143.
Frequency of Response: On occasion.
Affected Public: Deposit brokers and
depositors of failed insured institutions.
Estimated Number of Respondents:
5,236 (see chart below).
Total Annual Burden: 2,875 hours
(see chart below).
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Federal Register / Vol. 73, No. 66 / Friday, April 4, 2008 / Notices
BURDEN ESTIMATE, COMBINED DEPOSIT BROKERS AND INDIVIDUALS
[Frequency of response: Occasional]
Form No.
7200/03
7200/04
7200/05
7200/06
7200/07
..........................
..........................
..........................
..........................
..........................
7200/08
7200/09
7200/10
7200/11
7200/12
7200/13
7200/14
7200/15
..........................
..........................
..........................
..........................
..........................
..........................
..........................
..........................
Subtotal ...................
Form title
Declaration
Declaration
Declaration
Declaration
Declaration
ciation.
Declaration
Declaration
Declaration
Declaration
Declaration
Declaration
Declaration
Declaration
Hours
Respondents
Burden hours
for Testamentary Deposit (Single Grantor) .............
for Public Unit Deposit .............................................
for Trust ...................................................................
of Independent Activity ............................................
of Independent Activity for Unincorporated Asso-
.50
.50
.50
.50
.50
1,000
500
1,100
25
25
500
250
550
12.5
12.5
for Joint Ownership Deposit ....................................
for Testamentary Deposit (Multiple Grantors) .........
for Defined Contribution Plan ..................................
for IRA/KEOGH Deposit ..........................................
for Defined Benefit Plan ..........................................
of Custodian Deposit ...............................................
for Health and Welfare Plan ....................................
for Plan and Trust ....................................................
.50
.50
1.0
.50
1.0
.50
1.0
.50
25
500
50
50
200
50
200
1,300
12.5
250
50
25
200
25
200
650
.....................................................................................................
..........................
5,025
2,738
BURDEN ESTIMATE, DEPOSIT BROKERS ONLY
Burden per response
Deposit Broker Submission Checklist .....
Diskette, following ‘‘Broker Input File Requirements.’’
Exhibit B, the standard agency agreement, or the non-standard agency
agreement.
ebenthall on PRODPC61 with NOTICES
Subtotal ............................................
5 minutes ................................................. 70 .............................................................
The burden will vary depending on the ..................................................................
broker’s number of brokered accounts..
45 minutes ............................................... 53 responses (75% of 70 annual responses).
5 hours .................................................... 18 responses (25% of 70 annual responses).
1 minute ................................................... 70 .............................................................
..................................................................
General Description of Collection:
When an insured institution is closed by
its primary regulatory authority, the
FDIC has the responsibility to pay the
insured claims of the failed bank
depositors pursuant to sections 11(a)
and (f) of the Federal Deposit Insurance
Act (FDI Act), 12 U.S.C. 1821 (a) and (f),
and the FDIC’s regulation on ‘‘Deposit
Insurance Coverage,’’ 12 CFR part 330.
Generally, deposits are insured to a
maximum of $100,000. This maximum
coverage is based on ‘‘ownership rights
and capacities.’’ All deposits that are
maintained in the same right and
capacity are added together and insured
up to $100,000 in accordance with the
regulations relating to deposit insurance
of that particular deposit insurance
ownership category. Deposits held in
different ownership categories are
eligible for $100,000 coverage per
category. For example, as a general rule,
single-ownership accounts are
separately insured from trust accounts
held for qualified beneficiaries.
At the time of closing, the FDIC is
provided information about customer
accounts through the failed institution’s
records. Based on the institution’s
VerDate Aug<31>2005
15:24 Apr 03, 2008
Jkt 214001
Number of responses
211 ...........................................................
records, the FDIC makes preliminary
determinations about insurance
coverage for each depositor. Depositors
initially deemed to be uninsured
because their deposits are over $100,000
may be qualified for additional
insurance coverage if they can provide
documents certifying to the existence of
varying ownership rights and capacities.
a. General Deposit Accounts. The
forms, declarations, and affidavits in
this collection facilitate customers
providing the FDIC with the information
that may permit a more comprehensive
deposit insurance determination.
b. Deposit Brokers. A failed
institution’s account records may not
reveal the actual owner(s) of a particular
deposit account. Rather, the account
records may indicate that the deposit
was placed at the institution by a
deposit broker on behalf of one or more
third parties. In some cases, the broker’s
customer may not be an actual owner of
the deposit but merely a ‘‘second-tier’’
deposit broker with its own customers.
In turn, these customers could be
‘‘third-tier’’ deposit brokers with their
own customers. Deposits held in the
name of a deposit broker on behalf of
PO 00000
Frm 00041
Fmt 4703
Sfmt 4703
Burden hours
6
........................
40
90
1
137
clients are covered by federal deposit
insurance (up to the $100,000 limit) the
same as if the broker’s clients had
deposited the funds directly into the
institution (assuming that the clients are
the actual owners of the deposit). This
is called ‘‘pass-through’’ deposit
insurance coverage.
In order to analyze ownership interest
and provide pass-through insurance
coverage, the FDIC must obtain certain
information from both first and lowertier deposit brokers: (1) Evidence that
each deposit broker is not an owner but
an agent or custodian with respect to
some or all of the funds at issue; (2) a
list of all parties for whom each deposit
broker acted as agent or custodian; and
(3) the dollar amount of funds held by
each deposit broker for each such party
as of the date of the depository
institution’s failure.
Request for Comment
Comments are invited on: (a) Whether
this 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,
E:\FR\FM\04APN1.SGM
04APN1
Federal Register / Vol. 73, No. 66 / Friday, April 4, 2008 / Notices
including the validity of the
methodologies 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 information collection on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
At the end of the comment period, the
comments and recommendations
received will be analyzed to determine
the extent to which the collection
should be modified prior to submission
to OMB for review and approval.
Comments submitted in response to this
notice also will be summarized or
included in the FDIC’s requests to OMB
for renewal of these collections. All
comments will become a matter of
public record.
Dated at Washington, DC, this 1st day of
April, 2008.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. E8–7003 Filed 4–3–08; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Submission for OMB
Review; Comment Request
Board of Governors of the
Federal Reserve System (Board).
ACTION: Notice of information collection
to be submitted to OMB for review and
approval under the Paperwork
Reduction Act of 1995.
ebenthall on PRODPC61 with NOTICES
AGENCY:
SUMMARY: In accordance with the
requirements of the Paperwork
Reduction Act of 1995 (44 U.S.C.
chapter 35), the Board, the Federal
Deposit Insurance Corporation (FDIC),
and the Office of the Comptroller of the
Currency (OCC) (collectively, the
‘‘agencies’’) may not conduct or
sponsor, and the respondent is not
required to respond to, an information
collection unless it displays a currently
valid Office of Management and Budget
(OMB) control number.
On January 15, 2008, the Board, under
the auspices of the Federal Financial
Institutions Examination Council
(FFIEC) and on behalf of the agencies,
published a notice in the Federal
Register (73 FR 2491) requesting public
comment for 60 days to extend, with
revision, the Report of Assets and
Liabilities of U.S. Branches and
Agencies of Foreign Banks (FFIEC 002)
and the Report of Assets and Liabilities
of a Non-U.S. Branch That Is Managed
VerDate Aug<31>2005
16:44 Apr 03, 2008
Jkt 214001
or Controlled by a U.S. Branch or
Agency of a Foreign (Non-U.S.) Bank
(FFIEC 002S), which are currently
approved information collections. The
comment period for this notice expired
on March 17, 2008. After receiving four
comment letters, the FFIEC and the
agencies have made no modifications to
the proposal, but are delaying
implementation to September 30, 2008,
except for certain changes for which a
transition period begins June 30, 2008.
The Board hereby gives notice that it
plans to submit to OMB on behalf of the
agencies a request for approval of the
FFIEC 002 and the FFIEC 002S.
DATES: Comments must be submitted on
or before May 5, 2008.
ADDRESSES: Interested parties are
invited to submit written comments to
the agency listed below. All comments,
which should refer to the OMB control
number, will be shared among the
agencies. You may submit comments,
identified by FFIEC 002 (7100–0032) or
FFIEC 002S (7100–0273), by any of the
following methods:
• Agency Web Site: https://
www.federalreserve.gov. Follow the
instructions for submitting comments
on the https://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• E-mail:
regs.comments@federalreserve.gov.
Include the OMB control number in the
subject line of the message.
• Fax: 202–452–3819 or 202–452–
3102.
• Mail: Jennifer J. Johnson, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue, NW., Washington,
DC 20551.
All public comments are available
from the Board’s Web site at
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm as submitted,
unless modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper in Room MP–500 of the Board’s
Martin Building (20th and C Streets,
NW.) between 9 a.m. and 5 p.m. on
weekdays.
Additionally, commenters should
send a copy of their comments to the
Desk Officer for the agencies by mail to
U.S. Office of Management and Budget,
725 17th Street NW., #10235,
Washington, DC 20503 or by fax to 202–
395–6974.
FOR FURTHER INFORMATION CONTACT:
Additional information or a copy of the
PO 00000
Frm 00042
Fmt 4703
Sfmt 4703
18531
collection may be requested from
Michelle Shore, Federal Reserve Board
Clearance Officer, 202–452–3829,
Division of Research and Statistics,
Board of Governors of the Federal
Reserve System, 20th and C Streets,
NW., Washington, DC 20551.
Telecommunications Device for the Deaf
(TDD) users may call 202–263–4869,
Board of Governors of the Federal
Reserve System, 20th and C Streets,
NW., Washington, DC 20551.
SUPPLEMENTARY INFORMATION:
Proposal to request approval from
OMB of the extension for three years,
with revision, of the following currently
approved collections of information:
Report Titles: Report of Assets and
Liabilities of U.S. Branches and
Agencies of Foreign Banks; Report of
Assets and Liabilities of a Non-U.S.
Branch that is Managed or Controlled by
a U.S. Branch or Agency of a Foreign
(Non-U.S.) Bank Form Numbers: FFIEC
002; FFIEC 002S.
OMB Numbers: 7100–0032; 7100–
0273.
Frequency of Response: Quarterly.
Affected Public: U.S. branches and
agencies of foreign banks.
Estimated Number of Respondents:
FFIEC 002–264; FFIEC 002S–65.
Estimated Average Time per
Response: FFIEC 002–25 hours; FFIEC
002S–6 hours.
Estimated Total Annual Burden:
FFIEC 002–26,400 hours; FFIEC 002S–
1,560 hours.
General Description of Reports: These
information collections are mandatory:
12 U.S.C. 3105(c)(2), 1817(a)(1) and (3),
and 3102(b). Except for select sensitive
items, the FFIEC 002 is not given
confidential treatment; the FFIEC 002S
is given confidential treatment [5 U.S.C.
552(b)(4)].
Abstract: On a quarterly basis, all U.S.
branches and agencies of foreign banks
are required to file the FFIEC 002,
which is a detailed report of condition
with a variety of supporting schedules.
This information is used to fulfill the
supervisory and regulatory requirements
of the International Banking Act of
1978. The data are also used to augment
the bank credit, loan, and deposit
information needed for monetary policy
and other public policy purposes. The
FFIEC 002S is a supplement to the
FFIEC 002 that collects information on
assets and liabilities of any non-U.S.
branch that is managed or controlled by
a U.S. branch or agency of the foreign
bank. (Managed or controlled means
that a majority of the responsibility for
business decisions, including but not
limited to decisions with regard to
lending or asset management or funding
or liability management, or the
E:\FR\FM\04APN1.SGM
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]]>Agencies
[Federal Register Volume 73, Number 66 (Friday, April 4, 2008)]
[Notices]
[Pages 18529-18531]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-7003]
=======================================================================
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Proposed Collection
Renewals; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to take this opportunity to comment on continuing information
collections, as required by the Paperwork Reduction Act of 1995 (44
U.S.C. chapter 35). Currently, the FDIC is soliciting comments
concerning the following collections of information titled: ``Flood
Insurance,'' OMB No. 3064-120, and ``Forms Relating to Processing
Deposit Insurance Claims,'' OMB No. 3064-0143.
DATES: Comments must be submitted on or before June 3, 2008.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC by any of the following methods. All comments should refer to
the name of the collection:
https://www.FDIC.gov/regulations/laws/federal/notices.html.
E-mail: comments@fdic.gov. Include the name of the
collection in the subject line of the message.
Mail: Leneta G. Gregorie (202-898-3719), Counsel, Room F-
1064, 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 Building (located on F Street),
on business days between 7 a.m. and 5 p.m.
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: Leneta G. Gregorie, at the telephone
number and address identified above.
SUPPLEMENTARY INFORMATION:
Proposal to renew the following currently approved collections of
information:
1. Title: Flood Insurance.
OMB Number: 3064-0120.
Frequency of Response: On occasion.
Affected Public: Any depository institution that makes one or more
loans to be secured by a building located on property in a special
flood hazard area.
Estimated Number of Respondents/Recordkeepers: 5,272.
Estimated Number of Transactions: 180,000.
Estimated Reporting Hours: .05 hours x 180,000 = 9,000.
Estimated Recordkeeping Hours: 1 hour x 5,272 hours = 5,272 hours.
Estimated Total Annual Reporting and Recordkeeping Burden Hours:
5,272 + 9,000 = 14,272 hours.
General Description of Collection: Each supervised lending
institution is currently required to provide a notice of special flood
hazards to each borrower with a loan secured by a building or mobile
home located or to be located in an area identified by the Director of
the Federal Emergency Management Administration as being subject to
special flood hazards. The Riegle Community Development Act requires
that each institution must also provide a copy of the notice to the
servicer of the loan (if different from the originating lender).
2. Title: Forms Relating to Processing Deposit Insurance Claims.
OMB Number: 3064-0143.
Frequency of Response: On occasion.
Affected Public: Deposit brokers and depositors of failed insured
institutions.
Estimated Number of Respondents: 5,236 (see chart below).
Total Annual Burden: 2,875 hours (see chart below).
[[Page 18530]]
Burden Estimate, Combined Deposit Brokers and Individuals
[Frequency of response: Occasional]
----------------------------------------------------------------------------------------------------------------
Form No. Form title Hours Respondents Burden hours
----------------------------------------------------------------------------------------------------------------
7200/03............................ Declaration for .50 1,000 500
Testamentary Deposit
(Single Grantor).
7200/04............................ Declaration for Public .50 500 250
Unit Deposit.
7200/05............................ Declaration for Trust..... .50 1,100 550
7200/06............................ Declaration of Independent .50 25 12.5
Activity.
7200/07............................ Declaration of Independent .50 25 12.5
Activity for
Unincorporated
Association.
7200/08............................ Declaration for Joint .50 25 12.5
Ownership Deposit.
7200/09............................ Declaration for .50 500 250
Testamentary Deposit
(Multiple Grantors).
7200/10............................ Declaration for Defined 1.0 50 50
Contribution Plan.
7200/11............................ Declaration for IRA/KEOGH .50 50 25
Deposit.
7200/12............................ Declaration for Defined 1.0 200 200
Benefit Plan.
7200/13............................ Declaration of Custodian .50 50 25
Deposit.
7200/14............................ Declaration for Health and 1.0 200 200
Welfare Plan.
7200/15............................ Declaration for Plan and .50 1,300 650
Trust.
----------------------------------------------------------------------------
Subtotal....................... .......................... .............. 5,025 2,738
----------------------------------------------------------------------------------------------------------------
Burden Estimate, Deposit Brokers Only
----------------------------------------------------------------------------------------------------------------
Burden per response Number of responses Burden hours
----------------------------------------------------------------------------------------------------------------
Deposit Broker Submission Checklist..... 5 minutes................. 70........................ 6
Diskette, following ``Broker Input File The burden will vary .......................... ..............
Requirements.'' depending on the broker's
number of brokered
accounts..
45 minutes................ 53 responses (75% of 70 40
annual responses).
5 hours................... 18 responses (25% of 70 90
annual responses).
Exhibit B, the standard agency 1 minute.................. 70........................ 1
agreement, or the non-standard agency
agreement.
-----------------------------------------------------------------------
Subtotal............................ .......................... 211....................... 137
----------------------------------------------------------------------------------------------------------------
General Description of Collection: When an insured institution is
closed by its primary regulatory authority, the FDIC has the
responsibility to pay the insured claims of the failed bank depositors
pursuant to sections 11(a) and (f) of the Federal Deposit Insurance Act
(FDI Act), 12 U.S.C. 1821 (a) and (f), and the FDIC's regulation on
``Deposit Insurance Coverage,'' 12 CFR part 330.
Generally, deposits are insured to a maximum of $100,000. This
maximum coverage is based on ``ownership rights and capacities.'' All
deposits that are maintained in the same right and capacity are added
together and insured up to $100,000 in accordance with the regulations
relating to deposit insurance of that particular deposit insurance
ownership category. Deposits held in different ownership categories are
eligible for $100,000 coverage per category. For example, as a general
rule, single-ownership accounts are separately insured from trust
accounts held for qualified beneficiaries.
At the time of closing, the FDIC is provided information about
customer accounts through the failed institution's records. Based on
the institution's records, the FDIC makes preliminary determinations
about insurance coverage for each depositor. Depositors initially
deemed to be uninsured because their deposits are over $100,000 may be
qualified for additional insurance coverage if they can provide
documents certifying to the existence of varying ownership rights and
capacities.
a. General Deposit Accounts. The forms, declarations, and
affidavits in this collection facilitate customers providing the FDIC
with the information that may permit a more comprehensive deposit
insurance determination.
b. Deposit Brokers. A failed institution's account records may not
reveal the actual owner(s) of a particular deposit account. Rather, the
account records may indicate that the deposit was placed at the
institution by a deposit broker on behalf of one or more third parties.
In some cases, the broker's customer may not be an actual owner of the
deposit but merely a ``second-tier'' deposit broker with its own
customers. In turn, these customers could be ``third-tier'' deposit
brokers with their own customers. Deposits held in the name of a
deposit broker on behalf of clients are covered by federal deposit
insurance (up to the $100,000 limit) the same as if the broker's
clients had deposited the funds directly into the institution (assuming
that the clients are the actual owners of the deposit). This is called
``pass-through'' deposit insurance coverage.
In order to analyze ownership interest and provide pass-through
insurance coverage, the FDIC must obtain certain information from both
first and lower-tier deposit brokers: (1) Evidence that each deposit
broker is not an owner but an agent or custodian with respect to some
or all of the funds at issue; (2) a list of all parties for whom each
deposit broker acted as agent or custodian; and (3) the dollar amount
of funds held by each deposit broker for each such party as of the date
of the depository institution's failure.
Request for Comment
Comments are invited on: (a) Whether this 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,
[[Page 18531]]
including the validity of the methodologies 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 information
collection on respondents, including through the use of automated
collection techniques or other forms of information technology.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the
collection should be modified prior to submission to OMB for review and
approval. Comments submitted in response to this notice also will be
summarized or included in the FDIC's requests to OMB for renewal of
these collections. All comments will become a matter of public record.
Dated at Washington, DC, this 1st day of April, 2008.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. E8-7003 Filed 4-3-08; 8:45 am]
BILLING CODE 6714-01-P
