Agency Information Collection Activities: Submission for OMB Review; Comment Request, 34936-34938 [E8-13849]
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34936
Federal Register / Vol. 73, No. 119 / Thursday, June 19, 2008 / Notices
provide you with notice of its decision to
debar.30 If the Bureau decides to debar you,
its decision will become effective upon the
earlier of your receipt of a debarment notice
or publication of the decision in the Federal
Register.31
If and when your debarment becomes
effective, you will be prohibited from
participating in activities associated with or
related to the schools and libraries support
mechanism for three years from the date of
debarment.32 The Bureau may, if necessary to
protect the public interest, extend the
debarment period.33
Please direct any response, if by messenger
or hand delivery, to Marlene H. Dortch,
Secretary, Federal Communications
Commission, 236 Massachusetts Avenue,
NE., Suite 110, Washington, DC 20002, to the
attention of Diana Lee, Attorney Advisor,
Investigations and Hearings Division,
Enforcement Bureau, Room 4–C330, with a
copy to Vickie Robinson, Assistant Chief,
Investigations and Hearings Division,
Enforcement Bureau, Room 4–C330, Federal
Communications Commission. If sent by
commercial overnight mail (other than U.S.
Postal Service Express Mail and Priority
Mail), the response should be sent to the
Federal Communications Commission, 9300
East Hampton Drive, Capitol Heights,
Maryland 20743. If sent by first-class,
Express, or Priority mail, the response should
be sent to Diana Lee, Attorney Advisor,
Investigations and Hearings Division,
Enforcement Bureau, Federal
Communications Commission, 445 12th
Street, SW., Room 4–C330, Washington, DC
20554, with a copy to Vickie Robinson,
Assistant Chief, Investigations and Hearings
Division, Enforcement Bureau, Federal
Communications Commission, 445 12th
Street, SW., Room 4–C330, Washington, DC
20554. You shall also transmit a copy of the
response via e-mail to diana.lee@fcc.gov and
to vickie.robinson@fcc.gov.
If you have any questions, please contact
Ms. Lee via mail, by telephone at (202) 418–
1420 or by e-mail at diana.lee@fcc.gov. If Ms.
Lee is unavailable, you may contact Ms.
Vickie Robinson, Assistant Chief,
Investigations and Hearings Division, by
telephone at (202) 418–1420 and by e-mail at
vickie.robinson@fcc.gov.
Sincerely yours,
Hillary S. DeNigro,
mstockstill on PROD1PC66 with NOTICES
30 See id., 18 FCC Rcd at 9226, para. 70; 47 CFR
54.8(e)(5).
31 Id. The Commission may reverse a debarment,
or may limit the scope or period of debarment upon
a finding of extraordinary circumstances, following
the filing of a petition by you or an interested party
or upon motion by the Commission. 47 CFR 54.8(f).
32 Second Report and Order, 18 FCC Rcd at 9225,
para. 67; 47 CFR 54.8(d), 54.8(g).
33 Id.
VerDate Aug<31>2005
19:00 Jun 18, 2008
Jkt 214001
Chief, Investigations and Hearings Division,
Enforcement Bureau.
cc: Kristy Carroll, Esq., Universal Service
Administrative Company (via e-mail).
Anthony E. Kaplan, Esq., Supervisory
Assistant United States Attorney.
Calvin B. Kurimai, Esq., Assistant United
States Attorney.
[FR Doc. E8–13897 Filed 6–18–08; 8:45 am]
BILLING CODE 6712–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities: Submission for OMB
Review; Comment Request
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice of information
collections to be submitted to the Office
of Management and Budget (OMB) for
review and approval under the
Paperwork Reduction Act of 1995.
AGENCY:
SUMMARY: In accordance with
requirements of the Paperwork
Reduction Act of 1995 (44 U.S.C. 3501
et seq.), the FDIC hereby gives notice
that it is submitting to OMB a request
for review and approval of the following
collections of information: ‘‘Flood
Insurance,’’ OMB No. 3064–0120, and
‘‘Forms Relating to Processing Deposit
Insurance Claims,’’ OMB No. 3064–
0143.
Comments must be submitted on
or before July 21, 2008.
ADDRESSES: Interested parties are
invited to submit written comments to
the FDIC. All comments should refer to
the name of the collection. Comments
may be submitted by any of the
following methods:
• https://www.FDIC.gov/regulations/
laws/federal/propose.html.
• E-mail: comments@fdic.gov.
Include the name and number of the
collection in the subject line of the
message.
• Mail: Leneta G. Gregorie
(202.898.3719), Counsel, Federal
Deposit Insurance Corporation, Room
F–1064, 550 17th Street, NW.,
Washington, DC 20429.
• Hand Delivery: Comments may be
hand-delivered to the guard station at
the rear of the 550 17th Street Building
DATES:
PO 00000
Frm 00023
Fmt 4703
Sfmt 4703
(located on F Street), on business days
between 7 a.m. and 5 p.m.
A copy of the comments should 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, Room 10235,
Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT:
Leneta G. Gregorie at the address
identified above.
SUPPLEMENTARY INFORMATION:
Proposal To Renew the Following
Currently Approved Collection 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 Agency
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:
5,095 (see chart below).
Total Annual Burden: 2,875 hours
(see chart below).
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19JNN1
34937
Federal Register / Vol. 73, No. 119 / Thursday, June 19, 2008 / Notices
BURDEN ESTIMATE, COMBINED DEPOSIT BROKERS AND INDIVIDUALS
[Frequency of response: occasional]
Form No.
Form title
Hours
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
...................................
...................................
...................................
...................................
...................................
...................................
...................................
...................................
Declaration for Testamentary Deposit (Single Grantor) ........
Declaration for Public Unit Deposit ........................................
Declaration for Trust ...............................................................
Declaration of Independent Activity .......................................
Declaration of Independent Activity for Unincorporated Association.
Declaration for Joint Ownership Deposit ...............................
Declaration for Testamentary Deposit (Multiple Grantors) ....
Declaration for Defined Contribution Plan .............................
Declaration for IRA/KEOGH Deposit .....................................
Declaration for Defined Benefit Plan ......................................
Declaration of Custodian Deposit ..........................................
Declaration for Health and Welfare Plan ...............................
Declaration for Plan and Trust ...............................................
Subtotal ............................
Respondents
.................................................................................................
Burden hours
.50
.50
.50
.50
.50
1000
500
1100
25
25
500
250
550
12.5
12.5
.50
.50
1.0
.50
1.0
.50
1.0
.50
25
500
50
50
200
50
200
1300
12.5
250
50
25
200
25
200
650
5025
2738
BURDEN ESTIMATE, DEPOSIT BROKERS ONLY
Burden per response
Deposit Broker Submission Checklist .....
Diskette, following ‘‘Broker Input File Requirements.’’.
Number of responses
5 minutes .................................................
The burden will vary depending on the
broker’s number of brokered accounts.
45 minutes ...............................................
70 .............................................................
6
40
137
Exhibit B, the standard agency agreement, or the non-standard agency
agreement.
1 minute ...................................................
53 responses (75% of 70 annual responses).
18 responses (25% of 70 annual responses).
70 .............................................................
Subtotal ............................................
..................................................................
211 ...........................................................
mstockstill on PROD1PC66 with NOTICES
5 hours ....................................................
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
19:20 Jun 18, 2008
Jkt 214001
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 00024
Fmt 4703
Sfmt 4703
Burden hours
90
1
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
these 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 estimate of the
burden of the information collections,
E:\FR\FM\19JNN1.SGM
19JNN1
34938
Federal Register / Vol. 73, No. 119 / Thursday, June 19, 2008 / Notices
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 information collections 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.
Dated at Washington, DC, this 16th day of
June, 2008.
Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. E8–13849 Filed 6–18–08; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL RESERVE SYSTEM
mstockstill on PROD1PC66 with NOTICES
A De Novo Corporation To Do
Business Under Section 25A of the
Federal Reserve Act
An application has been submitted for
the Board’s approval of the organization
of a corporation to do business under
section 25A of the Federal Reserve Act
(‘‘Edge Corporation’’) 12 U.S.C. 611. The
factors that are to be considered in
acting on the application are set forth in
the Board’s Regulation K (12 CFR
211.5).
The application listed below is
available for immediate inspection at
the Federal Reserve Bank indicated. The
application also will be available for
inspection at the officers of the Board of
Governors. Any comment on an
application that requests a hearing must
include a statement of why a written
presentation would not suffice in lieu of
a hearing, identify specifically any
questions of fact that are in dispute, and
summarize the evidence that would be
presented at a hearing.
Unless otherwise noted, comments
regarding this application must be
received at the Reserve Bank indicated
or the office of the Board of Governors
not later than July 3, 2008.
A. Federal Reserve Bank of
Minneapolis (Jacqueline G. King,
Community Affairs Officer), 90
Hennepin Avenue, Minneapolis,
Minnesota 55480–0291:
1. TCF National Bank, Wayzata,
Minnesota, to establish an Edge
Corporation, TCF Bank International
Inc., Wayzata, Minnesota, pursuant to
section 25A of the Federal Reserve Act
and section 211.5 of Regulation K.
Board of Governors of the Federal Reserve
System.
VerDate Aug<31>2005
19:00 Jun 18, 2008
Jkt 214001
June 13, 2008.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E8–13787 Filed 6–18–08; 8:45 am]
BILLING CODE 6210–01–P
Board of Governors of the Federal Reserve
System, June 16, 2008.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E8–13874 Filed 6–18–08; 8:45 am]
BILLING CODE 6210–01–S
FEDERAL RESERVE SYSTEM
FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies
The companies listed in this notice
have applied to the Board for approval,
pursuant to the Bank Holding Company
Act of 1956 (12 U.S.C. 1841 et seq.)
(BHC Act), Regulation Y (12 CFR Part
225), and all other applicable statutes
and regulations to become a bank
holding company and/or to acquire the
assets or the ownership of, control of, or
the power to vote shares of a bank or
bank holding company and all of the
banks and nonbanking companies
owned by the bank holding company,
including the companies listed below.
The applications listed below, as well
as other related filings required by the
Board, are available for immediate
inspection at the Federal Reserve Bank
indicated. The applications also will be
available for inspection at the offices of
the Board of Governors. Interested
persons may express their views in
writing on the standards enumerated in
the BHC Act (12 U.S.C. 1842(c)). If the
proposal also involves the acquisition of
a nonbanking company, the review also
includes whether the acquisition of the
nonbanking company complies with the
standards in section 4 of the BHC Act
(12 U.S.C. 1843). Unless otherwise
noted, nonbanking activities will be
conducted throughout the United States.
Additional information on all bank
holding companies may be obtained
from the National Information Center
website at www.ffiec.gov/nic/.
Unless otherwise noted, comments
regarding each of these applications
must be received at the Reserve Bank
indicated or the offices of the Board of
Governors not later than July 14, 2008.
A. Federal Reserve Bank of St. Louis
(Glenda Wilson, Community Affairs
Officer) 411 Locust Street, St. Louis,
Missouri 63166–2034:
1. First Security Bancorp, Searcy,
Arkansas, to acquire 100 percent of the
voting shares of Union Bancshares of
Benton, Inc., and thereby indirectly
acquire voting shares of The Union
Bank of Benton, both of Benton,
Arkansas.
PO 00000
Frm 00025
Fmt 4703
Sfmt 4703
Notice of Proposals to Engage in
Permissible Nonbanking Activities or
to Acquire Companies that are
Engaged in Permissible Nonbanking
Activities
The companies listed in this notice
have given notice under section 4 of the
Bank Holding Company Act (12 U.S.C.
1843) (BHC Act) and Regulation Y (12
CFR Part 225) to engage de novo, or to
acquire or control voting securities or
assets of a company, including the
companies listed below, that engages
either directly or through a subsidiary or
other company, in a nonbanking activity
that is listed in § 225.28 of Regulation Y
(12 CFR 225.28) or that the Board has
determined by Order to be closely
related to banking and permissible for
bank holding companies. Unless
otherwise noted, these activities will be
conducted throughout the United States.
Each notice is available for inspection
at the Federal Reserve Bank indicated.
The notice also will be available for
inspection at the offices of the Board of
Governors. Interested persons may
express their views in writing on the
question whether the proposal complies
with the standards of section 4 of the
BHC Act. Additional information on all
bank holding companies may be
obtained from the National Information
Center website at www.ffiec.gov/nic/.
Unless otherwise noted, comments
regarding the applications must be
received at the Reserve Bank indicated
or the offices of the Board of Governors
not later than July 7, 2008.
A. Federal Reserve Bank of
Philadelphia (Michael E. Collins, Senior
Vice President) 100 North 6th Street,
Philadelphia, Pennsylvania 19105–
1521:
1. Bryn Mawr Bank Corporation, Bryn
Mawr, Pennsylvania, to acquire 100
percent of the voting shares of JNJ
Holdings, LLC, and indirectly acquire
Lau Associates, LLC and Lau
Professional Services, LLC, all of
Wilmington, Delaware, and thereby
engage in financial and investment
advisory activities, pursuant to section
225.28(b)(6) of Regulation Y.
E:\FR\FM\19JNN1.SGM
19JNN1
]]>Agencies
[Federal Register Volume 73, Number 119 (Thursday, June 19, 2008)]
[Notices]
[Pages 34936-34938]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-13849]
=======================================================================
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Submission for OMB
Review; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice of information collections to be submitted to the Office
of Management and Budget (OMB) for review and approval under the
Paperwork Reduction Act of 1995.
-----------------------------------------------------------------------
SUMMARY: In accordance with requirements of the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it
is submitting to OMB a request for review and approval of the following
collections of information: ``Flood Insurance,'' OMB No. 3064-0120, and
``Forms Relating to Processing Deposit Insurance Claims,'' OMB No.
3064-0143.
DATES: Comments must be submitted on or before July 21, 2008.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC. All comments should refer to the name of the collection.
Comments may be submitted by any of the following methods:
https://www.FDIC.gov/regulations/laws/federal/propose.html.
E-mail: comments@fdic.gov. Include the name and number of
the collection in the subject line of the message.
Mail: Leneta G. Gregorie (202.898.3719), Counsel, Federal
Deposit Insurance Corporation, Room F-1064, 550 17th Street, NW.,
Washington, DC 20429.
Hand Delivery: Comments may be hand-delivered to the guard
station at the rear of the 550 17th Street Building (located on F
Street), on business days between 7 a.m. and 5 p.m.
A copy of the comments should 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, Room
10235, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Leneta G. Gregorie at the address
identified above.
SUPPLEMENTARY INFORMATION:
Proposal To Renew the Following Currently Approved Collection 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 Agency 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: 5,095 (see chart below).
Total Annual Burden: 2,875 hours (see chart below).
[[Page 34937]]
Burden Estimate, Combined Deposit Brokers and Individuals
[Frequency of response: occasional]
----------------------------------------------------------------------------------------------------------------
Form No. Form title Hours Respondents Burden hours
----------------------------------------------------------------------------------------------------------------
7200/03............................ Declaration for .50 1000 500
Testamentary Deposit
(Single Grantor).
7200/04............................ Declaration for Public Unit .50 500 250
Deposit.
7200/05............................ Declaration for Trust...... .50 1100 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 1300 650
Trust.
-----------------------------------------------
Subtotal....................... ........................... .............. 5025 2738
----------------------------------------------------------------------------------------------------------------
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 these 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 estimate of the burden of the information
collections,
[[Page 34938]]
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 information
collections 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.
Dated at Washington, DC, this 16th day of June, 2008.
Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. E8-13849 Filed 6-18-08; 8:45 am]
BILLING CODE 6714-01-P
