Designated Reserve Ratio for 2014, 62633 [2013-24531]
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Federal Register / Vol. 78, No. 204 / Tuesday, October 22, 2013 / Notices
• 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 NYA–5050,
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 7:00 a.m. and 5:00 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.
Proposal
to renew the following currently
approved collections of information:
Title: Guidance on Sound Incentive
Compensation Practices.
OMB Number: 3064–0175.
Frequency of Response:
Implementation—once; maintenance—
annual.
Affected Public: Insured state
nonmember banks.
Estimated Number of Respondents:
4890 (20 large banks, 4870 small banks).
Estimated Time per Response:
Implementation—80 hours, small banks
and; 480 hours, large banks;
maintenance—40 hours, all banks.
Total Annual Burden: 594,800 hours
(one-time implementation—399,200
hours; ongoing maintenance—195,600).
General Description of Collection: The
Guidance on Sound Incentive
Compensation Practices helps ensure
that incentive compensation policies at
insured state non-member banks do not
encourage excessive risk-taking and are
consistent with the safety and
soundness of the organization. Under
the Guidance, banks are required to: (i)
Have policies and procedures that
identify and describe the role(s) of the
personnel and units authorized to be
involved in incentive compensation
arrangements, identify the source of
significant risk-related inputs, establish
appropriate controls governing these
inputs to help ensure their integrity, and
identify the individual(s) and unit(s)
whose approval is necessary for the
establishment or modification of
incentive compensation arrangements;
(ii) create and maintain sufficient
documentation to permit an audit of the
organization’s processes for incentive
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SUPPLEMENTARY INFORMATION:
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compensation arrangements; (iii) have
any material exceptions or adjustments
to the incentive compensation
arrangements established for senior
executives approved and documented
by its board of directors; and (iv) have
its board of directors receive and
review, on an annual or more frequent
basis operation of the organization’s
incentive compensation system in
providing risk-taking incentives that are
consistent with the organization’s safety
and soundness.
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 10th day of
October 2013.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2013–24533 Filed 10–21–13; 8:45 am]
BILLING CODE P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Designated Reserve Ratio for 2014
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice of Designated Reserve
Ratio for 2014.
AGENCY:
Pursuant to the Federal Deposit
Insurance Act, the Board of Directors of
the Federal Deposit Insurance
Corporation designates that the
Designated Reserve Ratio (DRR) for the
Deposit Insurance Fund shall remain at
2 percent for 2014.1 The Board is
publishing this notice as required by
section 7(b)(3)(A)(i) of the Federal
Deposit Insurance Act (12 U.S.C.
1817(b)(3)(A)(i)).
FOR FURTHER INFORMATION CONTACT:
Munsell St. Clair, Chief, Banking and
1 Section
327.4(g) of the FDIC’s regulations sets
forth the DRR. There is no need to amend this
provision, because the DRR for 2014 is the same as
the current DRR.
PO 00000
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62633
Regulatory Policy Section, Division of
Insurance and Research, (202) 898–
8967; or, Christopher Bellotto, Counsel,
Legal Division, (202) 898–3801.
Dated at Washington, DC, this 8th day of
October 2013.
By order of the Board of Directors.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2013–24531 Filed 10–21–13; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies;
Correction
This notice corrects a notice (FR Doc.
2013–24477) published on page 62333
of the issue for Thursday, October 17,
2013.
Under the Federal Reserve Bank of
Minneapolis heading, the entry for
Karen Neidhardt, Tampa, Florida, is
revised to read as follows:
A Federal Reserve Bank of
Minneapolis (Jacqueline G. King,
Community Affairs Officer) 90
Hennepin Avenue, Minneapolis,
Minnesota 55480–0291:
1. Karen Neidhardt, Tampa, Florida,
individually and as trustee, to retain
voting shares and thereby control
Jorgenson Holding Company, Inc., and
thereby indirectly retain voting shares
and control State Bank and Trust of
Kenmare, both in Kenmare, North
Dakota, and The Citizens State Bank at
Mohall, Mohall, North Dakota.
In addition, Ann Lenore Musser
Irrevocable Trust, Kenmare, North
Dakota, Karen Neidhardt and Jane
Neidhardt Farris, co-trustees, and Jane
Ellen Neidhardt Irrevocable Trust, all of
Kenmare, North Dakota, Karen
Neidhardt and Ann N. Musser, cotrustees, to retain voting shares of
Jorgenson Holding Company and
thereby join the Jorgenson family group.
Comments on this application must
be received by October 31. 2013.
Board of Governors of the Federal Reserve
System, October 17, 2013.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2013–24619 Filed 10–21–13; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies
The companies listed in this notice
have applied to the Board for approval,
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[Federal Register Volume 78, Number 204 (Tuesday, October 22, 2013)]
[Notices]
[Page 62633]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-24531]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Designated Reserve Ratio for 2014
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice of Designated Reserve Ratio for 2014.
-----------------------------------------------------------------------
Pursuant to the Federal Deposit Insurance Act, the Board of
Directors of the Federal Deposit Insurance Corporation designates that
the Designated Reserve Ratio (DRR) for the Deposit Insurance Fund shall
remain at 2 percent for 2014.\1\ The Board is publishing this notice as
required by section 7(b)(3)(A)(i) of the Federal Deposit Insurance Act
(12 U.S.C. 1817(b)(3)(A)(i)).
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\1\ Section 327.4(g) of the FDIC's regulations sets forth the
DRR. There is no need to amend this provision, because the DRR for
2014 is the same as the current DRR.
FOR FURTHER INFORMATION CONTACT: Munsell St. Clair, Chief, Banking and
Regulatory Policy Section, Division of Insurance and Research, (202)
898-8967; or, Christopher Bellotto, Counsel, Legal Division, (202) 898-
---------------------------------------------------------------------------
3801.
Dated at Washington, DC, this 8th day of October 2013.
By order of the Board of Directors.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2013-24531 Filed 10-21-13; 8:45 am]
BILLING CODE 6714-01-P
