Agency Information Collection Activities: Submission for OMB Review; Comment Request, 60986-60987 [2012-24551]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 77, Number 194 (Friday, October 5, 2012)]
[Notices]
[Pages 60986-60987]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-24551]


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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 and request for comment.

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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 two existing information collections, as 
required by the PRA. On July 30, 2012 (77 FR 44617), the FDIC solicited 
public comment for a 60-day period on renewal of the following 
information collections: Activities and Investments of Insured State 
Banks (OMB No. 3064-0111) and Privacy of Consumer Financial Information 
(OMB No. 3064-0136). No comments were received. Therefore, the FDIC 
hereby gives notice

[[Page 60987]]

of submission of its request for renewal to OMB for review.

DATES: Comments must be submitted on or before November 5, 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: 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, at the FDIC address 
above.

SUPPLEMENTARY INFORMATION:

Proposal To Renew the Following Currently Approved Collections of 
Information

    1. Title: Activities and Investments of Insured State Banks.
    OMB Number: 3064-0111.
    Form Numbers: None.
    Frequency of Response: On occasion.
    Affected Public: Insured state nonmember banks.
    Estimated Number of Respondents: 110.
    Estimated Time per Response: 8 hours.
    Total Annual Burden: 880 hours.
    General Description of Collection: With certain exceptions, section 
24 of the FDI Act (12 U.S.C. 1831a) limits the direct equity 
investments of state chartered banks to equity investments that are 
permissible for national banks. In addition, the statute prohibits an 
insured state bank from directly engaging as principal in any activity 
that is not permissible for a national bank or indirectly through a 
subsidiary in an activity that is not permissible for a subsidiary of a 
national bank unless the bank meets its minimum capital requirements 
and the FDIC determines that the activity does not pose significant 
risk to the Deposit Insurance Fund. The FDIC can make such a 
determination for exception by regulation or by order. The FDIC's 
implementing regulation for section 24 is 12 CFR Part 362. It details 
the activities that insured state nonmember banks or their subsidiaries 
may engage in, under certain criteria and conditions, and identifies 
the information that banks must furnish to the FDIC in order to obtain 
the FDIC's approval or non-objection.
    2. Title: Privacy of Consumer Financial Information.
    OMB Number: 3064-0136.
    Form Numbers: None.
    Frequency of Response: On occasion.
    Affected Public: Insured state nonmember banks, state savings & 
loan institutions, consumers.
    Estimated Number of Respondents: Initial notice, 208; annual notice 
and change in terms 5,156; opt-out notice, 866; consumer opt-out/status 
update, 212,432.
    Estimated Average Time per Response: Initial notice, 80 hours; 
annual notice and change in terms, 8 hours; opt-out notice, 8 hours; 
consumer opt-out/status update, 30 minutes.
    Estimated Number of Responses: 218,662.
    Total Annual Burden: 171,032 hours.
    General Description of Collection: The elements of this collection 
are required under section 504 of the Gramm-Leach-Bliley Act, Public 
Law 106-102. The collection mandates notice requirements and 
restrictions on a financial institution's ability to disclose nonpublic 
personal information about consumers to nonaffiliated third parties.

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 October, 2012.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2012-24551 Filed 10-4-12; 8:45 am]
BILLING CODE 6714-01-P