Agency Information Collection Activities: Submission for OMB Review; Comment Request, 49201-49203 [E8-19254]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 73, Number 162 (Wednesday, August 20, 2008)]
[Notices]
[Pages 49201-49203]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-19254]


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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 OMB for 
review and approval under the Paperwork Reduction Act of 1995.

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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 the Office of Management and Budget (OMB) a request 
for OMB review and approval of the information collection systems 
described below.

DATES: Comments must be submitted on or before September 19, 2008.

ADDRESSES: Interested parties are invited to submit written comments. 
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.
     Mail: Leneta G. Gregorie (202.898.3719), Counsel, Federal 
Deposit Insurance Corporation, PA1730-3000, 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 may also be submitted to the FDIC Desk 
Officer, 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: Acquisition Services Information Requirements.
    OMB Number: 3064-0072. This OMB Number covers the following forms:

Forms Currently in Use:
    FDIC Background Investigation Questionnaire for Contractor 
Personnel Management Officials, Form 1600/04 (10-05).
    FDIC Contractor Representation and Certifications, Form 3700/04A 
(10-05).
    FDIC Background Investigation Questionnaire for Contractor, Form 
1600/07 (10-05).
    FDIC Integrity and Fitness Representations and Certifications, Form 
3700/12 (10-05).
    FDIC Leasing Representations and Certifications Form 3700/44 (10-
05).
Discontinued Forms in This Collection:
    FDIC Notice and Authorization Pertaining to Consumer Reports, Form 
1600/10 (10-02) [form removed as a result of determination that it 
qualifies as a

[[Page 49202]]

``certification'' or ``consent'' excluded from the definition of 
``information''].

    Frequency of Response: On occasion.
    Affected Public: Any contractors who wish to do business, have done 
business, or are currently under contract with the FDIC.
    Estimated Number of Respondents and Burden Hours:

----------------------------------------------------------------------------------------------------------------
                                                                                     Number of
                          FDIC document                           Hours per unit    respondents    Burden hours
----------------------------------------------------------------------------------------------------------------
Background Investigation Questionnaire Management (1600/04).....             .33           4,000           1,320
Background Investigation Questionnaire Contractors (1600/07)....             .50             200             100
Contractor Representation and Certifications (3700/04A).........             .50             360             180
Integrity and Fitness Representations and Certifications (3700/              .33             360             119
 12)............................................................
Leasing Representations and Certifications (3700/44)............            1.0               35              35
FDIC Past Performance Questionnaire.............................             .75           1,080             810
                                                                 -----------------------------------------------
    Total.......................................................  ..............           6,035           2,564
----------------------------------------------------------------------------------------------------------------

    General Description of Collection: The collection involves the 
submission of information on various forms by contractors who wish to 
do business, have done business, or are currently under contract with 
the FDIC. The information is used to ensure compliance with established 
contractor ethics regulations (12 CFR Part 366); obtain information on 
a contractor's past performance for proposal evaluation purposes; 
review a potential lessor's fitness and integrity prior to entering 
into a lease transaction; and perform background investigations on 
contractors and contractor personnel.
    2. Title: Account Based Disclosures in Connection With Federal 
Reserve Regulations E, CC, and DD.
    OMB Number: 3064-0084.
    Frequency of Response: On occasion.
    Affected Public: State chartered banks that are not members of the 
Federal Reserve System.
    Estimated Number of Respondents: 5,192.
    Annual Burden: Regulation E--29,404 hours; Regulation CC--528,513 
hours; and Regulation DD--302,434 hours.
    One-time Burden: Regulation E--ATM and transaction disclosures--
42,336 hours.
    Total Estimated Burden: 902,687 hours.
    General Description of Collection: This FDIC information collection 
provides for the application of Regulations E (Electronic Fund 
Transfers), CC (Availability of Funds), and DD (Truth in Savings) to 
State nonmember banks. Regulations E, CC, and DD are issued by the 
Federal Reserve Board of Governors (FRB) to ensure, among other things, 
that consumers are provided adequate disclosures regarding accounts, 
including electronic fund transfer services, availability of funds, and 
fees and annual percentage yield for deposit accounts. Generally, the 
Regulation E disclosures are designed to ensure consumers receive 
adequate disclosure of basic terms, costs, and rights relating to 
electronic fund transfer (EFT) services provided to them so that they 
can make informed decisions. Institutions offering EFT services must 
disclose to consumers certain information, including: Initial and 
updated EFT terms, transaction information, the consumer's potential 
liability for unauthorized transfers, and error resolution rights and 
procedures.
    Like Regulation E, Regulation CC has consumer protection disclosure 
requirements. Specifically, Regulation CC requires depository 
institutions to make funds deposited in transaction accounts available 
within specified time periods, disclose their availability policies to 
customers, and begin accruing interest on such deposits promptly. The 
disclosures are intended to alert customers that their ability to use 
deposited funds may be delayed, prevent unintentional (and costly) 
overdrafts, and allow customers to compare the policies of different 
institutions before deciding at which institution to deposit funds. 
Depository institutions must also provide an awareness disclosure 
regarding substitute checks. The regulation also requires notice to the 
depositary bank and to a customer of nonpayment of a check.
    Regulation DD also has similar consumer protection disclosure 
requirements that are intended to assist consumers in comparing deposit 
accounts offered by institutions, principally through the disclosure of 
fees, the annual percentage yield, and other account terms. Regulation 
DD requires depository institutions to disclose yields, fees, and other 
terms concerning deposit accounts to consumers at account opening, upon 
request, and when changes in terms occur. Depository institutions that 
provide periodic statements are required to include information about 
fees imposed, interest earned, and the annual percentage yield (APY) 
earned during those statement periods. It also contains rules about 
advertising deposit accounts.
    Although the FRB regulations require institutions to retain 
evidence of compliance with the disclosure requirements, the 
regulations do not specify the types of records that must be retained.
    3. Title: Prompt Corrective Action.
    OMB Number: 3064-0115.
    Frequency of Response: On occasion.
    Affected Public: All insured depository institutions.
    Estimated Number of Respondents: 19.
    Estimated Time per Response: 4 hours.
    Total Annual Burden: 76 hours.
    General Description of Collection: The Prompt Corrective Action 
provisions in Section 38 of the Federal Deposit Insurance Act (12 
U.S.C. 1831o) permits and, in some cases requires, the Federal Deposit 
Insurance Corporation (FDIC) and other federal banking agencies to take 
certain supervisory actions when FDIC-insured institutions fall within 
one of five capital categories. They also restrict or prohibit certain 
activities and require the submission of a capital restoration plan 
when an insured institution becomes undercapitalized.

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 
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 
information collection on respondents, including through the use of 
automated collection techniques or other forms of information 
technology.

[[Page 49203]]

All comments will become a matter of public record.

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, this 15th day of August, 2008.
Valerie Best,
Assistant Executive Secretary.
[FR Doc. E8-19254 Filed 8-19-08; 8:45 am]
BILLING CODE 6714-01-P