Agency Information Collection Activities: Proposed Collection Renewal; Comment Request, 33457 [2012-13711]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 77, Number 109 (Wednesday, June 6, 2012)]
[Notices]
[Page 33457]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-13711]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewal; 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 the renewal of an 
existing information collection, as required by the Paperwork Reduction 
Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is soliciting 
comment on renewal of the information collection described below.

DATES: Comments must be submitted on or before August 6, 2012.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     https://www.FDIC.gov/regulations/laws/federal/notices.html.
     Email: comments@fdic.gov Include the name of the 
collection in the subject line of the message.
     Mail: Gary A. Kuiper (202.898.3877), Counsel, Room NYA-
5046, 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: Gary A. Kuiper, at the FDIC address 
above.

SUPPLEMENTARY INFORMATION:

Proposal To Renew the Following Currently-Approved Collection of 
Information

    Title: External Audits.
    OMB Number: 3064-0113.
    Frequency of Response: Annually.
    Affected Public: All insured financial institutions with total 
assets of $500 million or more, and other insured financial 
institutions with total assets of less than $500 million that 
voluntarily choose to comply.
    General Description of Collection: FDIC's regulations at 12 CFR 363 
establish annual independent audit and reporting requirements for 
financial institutions with total assets of $500 million or more. The 
requirements include the submission of an annual report on their 
financial statements, recordkeeping about management deliberations 
regarding external auditing and reports about changes in auditors. The 
information collected is used to facilitate early identification of 
problems in financial management at financial institutions.
    Explanation of burden estimates: The estimates of annual burden are 
based on the estimated burden hours for FDIC-supervised institutions 
within each asset classification ($1 billion or more, $500 million or 
more but less than $1 billion, and less than $500 million) to comply 
with the requirements of Part 363 regarding the annual report, audit 
committee, other reports, and the notice of change in accountants. The 
number of respondents reflects the number of FDIC-supervised 
institutions in each asset classification. The number of annual 
responses reflects the estimated number of submissions for each asset 
classification. The annual burden hours reflects the estimated number 
of hours for FDIC-supervised institutions within each asset 
classification to comply with the requirements of Part 363.
    a. FDIC-Supervised Institutions with Assets of $1 Billion or More.
    Number of Respondents: 311.
    Annual Responses: 1,011.
    Annual Burden Hours: 69,751.
    b. FDIC-Supervised Institutions with Assets of $500 Million or More 
but Less than $1 Billion.
    Number of Respondents: 416.
    Annual Responses: 1,352.
    Annual Burden Hours: 11,388.
    c. FDIC-Supervised Institutions with Assets Less than $500 Million.
    Number of Respondents: 3,850.
    Annual Responses: 11,550.
    Annual Burden Hours: 2,887.
    Total Annual Burden Hours: 84,026.

Request for Comment

    Comments are invited on: (a) Whether the 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, 
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. All 
comments will become a matter of public record.

    Dated at Washington, DC, this 1st day of June 2012.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2012-13711 Filed 6-5-12; 8:45 am]
BILLING CODE 6714-01-P