Agency Information Collection Activities; Proposed Collection Renewal; Comment Request Re: Guidance on Sound Incentive Compensation Practices, 62632-62633 [2013-24533]

Download as PDF 62632 Federal Register / Vol. 78, No. 204 / Tuesday, October 22, 2013 / Notices ESTIMATED NUMBER OF RESPONDENTS AND BURDEN HOURS—Continued Hours per response FDIC document Burden hours of Independent Activity for Unincorporated Association, Form 7200/07 for Joint Ownership Deposit, Form 7200/08 .......................................... for Testamentary Deposit, Form 7200/09 .............................................. for Defined Contribution Plan, Form 7200/10 ........................................ for IRA/KEOGH Deposit, Form 7200/11 ................................................ for Defined Benefit Plan, Form 7200/12 ................................................ of Custodian Deposit, Form 7200/13 ..................................................... for Health and Welfare Plan, Form 7200/14 .......................................... for Plan and Trust, Form 7200/15 .......................................................... for Irrevocable Trust, Form 7200/18 ...................................................... 0.50 0.50 0.50 1.0 0.50 1.0 0.50 1.0 0.50 0.50 25 25 1,500 50 50 200 50 200 1,300 200 12.5 12.5 750 50 25 200 25 200 650 100 Subtotal ............................................................................................................... .............................. 5,095 2,875 Additional Burden for Deposit Brokers Only ............................................................. New Forms To Be Added: Claimant Verification Form, Form 7200/24 ............................................................... Depositor Interview Form, Form 7200/26 .................................................................. .............................. 211 137 0.50 0.50 700 75 350 37.5 Subtotal ............................................................................................................... .............................. 1,100 570 Total ............................................................................................................. sroberts on DSK5SPTVN1PROD with FRONT MATTER Declaration Declaration Declaration Declaration Declaration Declaration Declaration Declaration Declaration Declaration Number of respondents .............................. 6,406 3,582 General Description of Collection: The collection involves forms used by the FDIC to obtain information from individual depositors and deposit brokers necessary to supplement the records of failed depository institutions to make determinations regarding deposit insurance coverage for depositors of failed institutions. The information provided allows the FDIC to identify the actual owners of an account and each owner’s interest in the account. Current Action: The FDIC is proposing modifications, which may be considered substantive and material, to the following forms: 7200/10, Declaration for Combined Contribution Plan; 7200/12, Declaration for Defined Benefit Plan; and 7200/14, Declaration for Health and Welfare Plan. The content of the forms was revised to reflect current deposit insurance rules and regulations; to focus on the collection of information required for an insurance determination; and to incorporate applicable Code of Federal Regulations (both FDIC and non-FDIC) citations. The FDIC also proposes modifications, which may be considered non-substantive and nonmaterial, to the following forms: 7200/04, Declaration for Government Deposit; 7200/05, Declaration for Revocable Living Trust; 7200/06, Declaration of Independent Activity; 7200/07, Declaration of Independent Activity for Unincorporated Association; 7200/08, Declaration of Joint Ownership Deposit; 7200/09, Declaration of Testamentary Deposit; 7200/11, Declaration of IRA Keogh Deposit; 7200/13, Declaration of Custodian Deposit; 7200/15, Declaration VerDate Mar<15>2010 21:08 Oct 21, 2013 Jkt 232001 for Plan and Trust; and 7200/18, Declaration for Irrevocable Trust. Finally, the FDIC proposes to add two new forms: 7200/24, Claimant Verification Form, 7200/24, and Depositor Interview Form, 7200/06. The purpose of the new forms is to facilitate collection of specific information that the FDIC will need in calculating insurance coverage after a bank failure. FEDERAL DEPOSIT INSURANCE CORPORATION Request for Comment ACTION: 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 estimate 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 17th day of October 2013. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2013–24603 Filed 10–21–13; 8:45 am] BILLING CODE 6714–01–P PO 00000 Frm 00050 Fmt 4703 Sfmt 4703 Agency Information Collection Activities; Proposed Collection Renewal; Comment Request Re: Guidance on Sound Incentive Compensation Practices Federal Deposit Insurance Corporation (FDIC). AGENCY: Notice and request for comment. In accordance with the requirements of the Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. chapter 35), 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 hereby gives notice that it is seeking comment on renewal of its information collection, entitled Guidance on Sound Incentive Compensation Practices (OMB No. 3064–0175). At the end of the comment period, any 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. SUMMARY: Comments must be submitted on or before December 23, 2013. DATES: 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. ADDRESSES: E:\FR\FM\22OCN1.SGM 22OCN1 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 sroberts on DSK5SPTVN1PROD with FRONT MATTER SUPPLEMENTARY INFORMATION: VerDate Mar<15>2010 21:08 Oct 21, 2013 Jkt 232001 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 Frm 00051 Fmt 4703 Sfmt 4703 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, E:\FR\FM\22OCN1.SGM 22OCN1

Agencies

FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 78, Number 204 (Tuesday, October 22, 2013)]
[Notices]
[Pages 62632-62633]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-24533]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities; Proposed Collection 
Renewal; Comment Request Re: Guidance on Sound Incentive Compensation 
Practices

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

-----------------------------------------------------------------------

SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act (PRA) of 1995 (44 U.S.C. chapter 35), 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 hereby gives 
notice that it is seeking comment on renewal of its information 
collection, entitled Guidance on Sound Incentive Compensation Practices 
(OMB No. 3064-0175). At the end of the comment period, any 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.

DATES: Comments must be submitted on or before December 23, 2013.

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.

[[Page 62633]]

     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.

SUPPLEMENTARY INFORMATION: 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 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

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