Agency Information Collection Activities: Proposed Collection Renewals; Comment Request, 27781 [2010-11797]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 75, Number 95 (Tuesday, May 18, 2010)]
[Notices]
[Page 27781]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-11797]


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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.

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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: Application 
For Consent to Exercise Trust Powers (3064-0025), and Insurance Sales 
Consumer Protections (3064-0140).

DATES: Comments must be submitted on or before July 19, 2010.

ADDRESSES: Interested parties are invited to submit written comments by 
any of the following methods. All comments should refer to the name and 
number of the collection:
     https://www.FDIC.gov/regulations/laws/federal/notices.html.
     E-mail: comments@fdic.gov. Include the name and number of 
the collection in the subject line of the message.
     Mail: Leneta Gregorie (202-898-3719), Counsel, 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 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 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 Gregorie (address above).

SUPPLEMENTARY INFORMATION: 
    1. Title: Application for Consent to Exercise Trust Powers.
    OMB Number: 3064-0025.
    Form Number: FDIC 6200/09.
    Frequency of Response: On occasion.
    Affected Public: Insured State nonmember banks wishing to exercise 
trust powers.
    Estimated Number of Respondents: 15.
    Estimated Time per Response for Eligible Depository Institutions: 8 
hours.
    Estimated Time per Response for Institutions that do not Qualify as 
Eligible Institutions: 24 hours.
    Total Annual Burden: 200 hours.
    General Description of Collection: FDIC regulations (12 CFR 333.2) 
prohibit any insured State nonmember bank from changing the general 
character of its business without the prior written consent of the 
FDIC. The exercise of trust powers by a bank is usually considered to 
be a change in the general character of a bank's business if the bank 
did not exercise those powers previously. Therefore, unless a bank is 
currently exercising trust powers, it must file a formal application to 
obtain the FDIC's written consent to exercise trust powers. State 
banking authorities, not the FDIC, grant trust powers to their banks. 
The FDIC merely consents to the exercise of such powers. Applicants use 
form FDIC 6200/09 to obtain FDIC's consent.
    2. Title: Consumer Protections for Depository Institution Sales of 
Insurance.
    OMB Number: 3064-0140.
    Form Number: None.
    Frequency of Response: On occasion.
    Affected Public: Insured State nonmember banks that sell insurance 
products; persons who sell insurance products in or on behalf of 
insured State nonmember banks.
    Estimated Number of Respondents: 3,740.
    Estimated Time per Response: 5 hours.
    Total Annual Burden: 18,700 hours.
    General Description of Collection: Respondents must prepare and 
provide certain disclosures to consumers (e.g., that insurance products 
and annuities are not FDIC-insured) and obtain consumer 
acknowledgments, at two different times: (1) Before the completion of 
the initial sale of an insurance product or annuity to a consumer; and 
(2) at the time of application for the extension of credit (if 
insurance products or annuities are sold, solicited, advertised, or 
offered in connection with an extension of credit).

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 estimates of the burden of the information 
collections, including the validity of the methodology and assumptions 
used; (c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (d) ways to minimize the burden of the 
information collections 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 
collections 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 13th day of May 2010.
Robert E. Feldman,
Executive Secretary, Federal Deposit Insurance Corporation.
[FR Doc. 2010-11797 Filed 5-17-10; 8:45 am]
BILLING CODE 6714-01-P