Agency Information Collection Activities: Proposed Collection Renewal; Comment Request (3064-185), 6711 [2015-02424]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 80, Number 25 (Friday, February 6, 2015)]
[Notices]
[Page 6711]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-02424]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request (3064-185)

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. Currently, the FDIC is soliciting comment on renewal of 
the information collection described below.

DATES: Comments must be submitted on or before April 7, 2015.

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/.
     Email: comments@fdic.gov Include the name of the 
collection in the subject line of the message.
     Mail: Gary A. Kuiper, Counsel, (202.898.3877), or John 
Popeo, Counsel, (202.898.6923), MB-3007, 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 or John Popeo, at the 
FDIC address above.

SUPPLEMENTARY INFORMATION:

Proposal To Renew the Following Currently-Approved Collection of 
Information

    1. Title: Resolution Plans Required for Insured Depository 
Institutions With $50 Billion or More in Total Assets.
    OMB Number: 3064-0185.
    Affected Public: Large and highly complex depository institutions.
    A. Estimated Number of Respondents for Contingent Resolution Plan: 
37.
    Frequency of Response: Once.
    Estimated Time per Response: 7,200 hours per respondent.
    Estimated Total Burden: 266,400 hours.
    B. Estimated Number of Respondents for Annual Update of Resolution 
Plan: 37.
    Frequency of Response: Annual.
    Estimated Time per Response: 452 hours per respondent.
    Estimated Total Burden: 16,724 hours.
    C. Estimated Number of Respondents for Notice of Material Change 
Affecting Resolution Plan: 37.
    Frequency of Response: Zero to two times annually.
    Estimated Time per Response: 226 hours per respondent.
    Estimated Total Burden: 8,362 hours.
    General Description of Collection: This Rule requires an insured 
depository institution with $50 billion or more in total assets to 
submit periodically to the FDIC a contingent plan for the resolution of 
such institution in the event of its failure (''Resolution Plan''). 
This Rule created the requirements for submission and content of a 
Resolution Plan, as well as procedures for review by the FDIC. The Rule 
requires a covered insured depository institution (CIDI) to submit a 
Resolution Plan that should enable the FDIC, as receiver, to resolve 
the institution under Sections 11 and 13 of the Federal Deposit 
Insurance Act, 12 U.S.C. 1821 and 1823, in a manner that ensures that 
depositors receive access to their insured deposits within one business 
day of the institution's failure (two business days if the failure 
occurs on a day other than Friday), maximizes the net present value 
return from the sale or disposition of its assets and minimizes the 
amount of any loss to be realized by the institution's creditors. The 
Rule is intended to address the continuing exposure of the banking 
industry to the risks of insolvency of large and complex insured 
depository institutions, an exposure that can be mitigated with proper 
resolution planning.

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 3rd day of February 2015.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2015-02424 Filed 2-5-15; 8:45 am]
BILLING CODE 6714-01-P