Agency Information Collection Activities: Submission for OMB Review; Comment Request, 44259 [2010-18419]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 75, Number 144 (Wednesday, July 28, 2010)]
[Notices]
[Page 44259]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-18419]


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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 collection to be submitted to OMB for 
review and approval under the Paperwork Reduction Act.

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SUMMARY: In accordance with requirements of the Paperwork Reduction Act 
of 1995 (``PRA''), 44 U.S.C. 3501 et. seq., the FDIC 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. 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 the renewal of existing information collections, as 
required by the PRA. On May 18, 2010 (75 FR 27781), the FDIC solicited 
public comment for a 60-day period on renewal of the following 
information collections: Application for Consent to Exercise Trust 
Powers (3064-0025), and Insurance Sales Consumer Protections (3064-
0140). No comments were received. Therefore, the FDIC hereby gives 
notice of submission of its requests for renewal to OMB for review.

DATES: Comments must be submitted on or before August 27, 2010.

ADDRESSES: Interested parties are invited to submit written comments by 
any of the following methods:
     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.
    All comments should refer to the relevant OMB control number. 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. All comments will become a matter of public record.

    Dated at Washington, DC, this 22nd day of July 2010.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2010-18419 Filed 7-27-10; 8:45 am]
BILLING CODE 6714-01-P