Agency Information Collection Activities: Proposed Collection Renewals; Comment Request (3064-0092, -0099, -0118, & -0149), 17152-17153 [2014-06782]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 79, Number 59 (Thursday, March 27, 2014)]
[Notices]
[Pages 17152-17153]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-06782]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewals; Comment Request (3064-0092, -0099, -0118, & -0149)

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 existing 
information collections, as required by the Paperwork Reduction Act of 
1995 (44 U.S.C. chapter 35). On January 16, 2014, (79 FR 2836), the 
FDIC requested comment for 60 days on a proposal to renew the following 
information collections: Community Reinvestment Act, 3064-0092; 
Application for Waiver of Prohibition on Acceptance of Brokered 
Deposits, 3064-0099; Management Official Interlocks, 3064-0118; & 
Affordable Marketing/Consumer Opt-Out Notices, 3064-0149, described 
below. Except as noted below, no comments were received. The FDIC 
hereby gives notice of its plan to submit to OMB a request to approve 
the renewal of these collections, and again invites comment on this 
renewal.

DATES: Comments must be submitted on or before April 28, 2014.

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 7:00 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: Gary A. Kuiper, at the FDIC address 
above.

SUPPLEMENTARY INFORMATION:

Proposal To Renew the Following Currently-Approved Collections of 
Information

    1. Title: Community Reinvestment Act.
    OMB Number: 3064-0092.
    Form Number: FDIC.
    Frequency of Response: On occasion.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Estimated Reporting Burden--The reporting requirements involve 
approximately 257 large banks: 257 respondents; 82,223 reporting burden 
hours.
    Estimated Recordkeeping Burden--The recordkeeping requirements 
involve approximately 257 large banks: 257 record keepers; 83,233 
recordkeeping burden hours.
    Estimated Disclosure Burden--The public file and public notice 
disclosure requirements involve 4524 small banks and 257 large banks: 
4781 respondents @ 10 hours = 47,810 total disclosure burden hours.
    Total CRA Burden--The FDIC estimates the combined estimated total 
annual reporting, recordkeeping, and disclosure burden at 213,266 
hours.
    General Description of Collection: The Community Reinvestment Act 
regulation requires the FDIC to assess the record of banks and thrifts 
in helping meet the credit needs of their entire communities, including 
low- and moderate-income neighborhoods, consistent with safe and sound 
operations; and to take this record into account in evaluating 
applications for mergers, branches, and certain other corporate 
activities.
    Comment: A commenter applauded FDIC on its efforts to assess how 
the credit needs of communities were being served, but urged FDIC to go 
further and make racial lending performance a factor in CRA 
examinations.
    2. Title: Application for Waiver of Prohibition on Acceptance of 
Brokered Deposits.
    OMB Number: 3064-0099.
    Form Number: None.
    Frequency of Response: On occasion.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Estimated Number of Applications: 85.
    Estimated Time per Application: 6 hours.
    Total Annual Burden: 510 hours.
    General Description of Collection: Section 29 of the Federal 
Deposit Insurance Act prohibits undercapitalized insured depository 
institutions from accepting, renewing,

[[Page 17153]]

or rolling over any brokered deposits. Adequately capitalized 
institutions may do so with a waiver from the FDIC, while well-
capitalized institutions may accept, renew, or roll over brokered 
deposits without restriction.
    3. Title: Management Official Interlocks.
    OMB Number: 3064-0118.
    Form Number: None.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Estimated Number of Respondents: 10.
    Frequency of Response: On occasion.
    Estimated Annual Burden Hours per Response: 4 hours.
    Total estimated annual burden: 40 hours.
    General Description of Collection: The FDIC's Management Official 
Interlocks regulation, 12 CFR 348, which implements the Depository 
Institutions Management Interlocks Act (DIMIA), 12 U.S.C. 3201-3208, 
generally prohibits bank management officials from serving 
simultaneously with two unaffiliated depository institutions or their 
holding companies but allows the FDIC to grant exemptions in 
appropriate circumstances. Consistent with DIMIA, the FDIC's Management 
Official Interlocks regulation has application requirement requiring 
information specified in the FDIC's procedural regulation. The rule 
also contains a notification requirement.
    4. Title: Affordable Marketing/Consumer Opt-Out Notices.
    OMB Number: 3064-0149.
    Form Number: None.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Estimated Burden on Institutions: 978 x 18 hours = 17,604 hours.
    Estimated Burden on Consumers: Total number of consumers who opt 
out = 198,450. Estimated time per consumer opt-out = 5 minutes. 198,450 
x 5/60 hours = 16,537.5 hours.
    Total Estimated Burden: 17,604 hours + 16,537.5 hours = 34,141.5 
hours.
    General Description of Collection: The Section 214 of the FACT Act 
requires financial institutions to disclose to consumers the 
opportunity to opt out of marketing solicitations from affiliates. The 
disclosures and responsive consumer opt-out notices comprise the 
elements of this collection of information.

Request for Comment

    Comments are invited on: (a) Whether the 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 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 24th day of March, 2014.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2014-06782 Filed 3-26-14; 8:45 am]
BILLING CODE 6714-01-P