Agency Information Collection Activities: Proposed Collection Renewals; Comment Request (3064-0046, 3064-0113, & 3064-0178), 77341-77343 [2015-31389]
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Federal Register / Vol. 80, No. 239 / Monday, December 14, 2015 / Notices
Type of Review: Revision of a
currently approved collection.
Respondents: Business or other forprofit entities, not-for-profit institutions,
and state, local or tribal governments.
Estimated Number of Respondents
and Responses: 500 respondents and
500 responses.
Estimated Time per Response: 90
minutes.
Frequency of Response: On occasion
reporting requirement.
Obligation to Respond: Required to
obtain or retain benefits. Statutory
authority for the currently approved
information collection is contained in
sections 154(i) and 309(j)(5) of the
Communications Act, as amended, 47
U.S.C.s 4(i), 309(j)(5), and sections
1.2105, 1.2110, 1.2112 of the
Commission’s rules, 47 CFR 1.2105,
1.2110, 1.2112. Statutory authority for
the revised information collection is
contained in sections 154(i) and
309(j)(5) of the Communications Act of
1934, as amended, 47 U.S.C. 4(i),
309(j)(5), and sections 1.2105, 1.2110,
1.2112 of the Commission’s rules, as
amended, 47 CFR 1.2105, 1.2110,
1.2112.
Estimated Total Annual Burden: 750
hours.
Total Annual Costs: None.
Nature and Extent of Confidentiality:
Information collected on FCC Form 175
is made available for public inspection,
and the Commission is not requesting
that respondents submit confidential
information on FCC Form 175.
Respondents seeking to have
information collected on FCC Form 175
withheld from public inspection may
request confidential treatment of such
information pursuant to section 0.459 of
the Commission’s rules, 47 CFR 0.459.
Privacy Act Impact Assessment: No
impact(s).
Needs and Uses: The Commission is
submitting this revised information
collection to OMB under its emergency
processing procedures. The Commission
is seeking emergency OMB approval no
later than 26 days after the collection is
received at OMB. On February 22, 2012,
the President signed the Spectrum Act,
which, among other things, authorized
the Commission to conduct incentive
auctions, and directed that the
Commission use this innovative tool for
an incentive auction of broadcast
television spectrum to help meet the
Nation’s growing spectrum needs. See
Middle Class Tax Relief and Job
Creation Act of 2012, Public Law 112–
96, sections 6402, 6403, 125 Stat. 156
(2012) (Spectrum Act). The
Commission’s broadcast incentive
auction (BIA) will have three main
components: (1) A reverse auction in
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which broadcast television licensees
will submit bids to voluntarily
relinquish their spectrum usage rights in
exchange for defined shares of proceeds
from the forward auction; (2) a
repacking of the broadcast television
bands; and (3) a forward auction of
initial licenses for flexible use of the
newly available spectrum.
The Commission is revising the
currently approved information
collection on FCC Form 175 to
implement new collection requirements
that are the result of (1) various
Commission actions in which the
Commission adopted general rules and
procedures to govern the BIA, including
rules applicable to applicants seeking to
participate in the forward auction
component of the BIA and, (2) the
Commission’s adoption of new and
modified competitive bidding rules and
requirements in the Updating Part 1
Report and Order, which will apply to
applicants seeking to participate in a
Commission auction, including the
forward auction component of the BIA.
The Commission’s auction rules and
related requirements are designed to
ensure that the competitive bidding
process is limited to serious qualified
applicants, deter possible abuse of the
bidding and licensing process, and
enhance the use of competitive bidding
to assign Commission licenses in
furtherance of the public interest. The
information collected on FCC Form 175
is used by the Commission to determine
if an applicant is legally, technically,
and financially qualified to participate
in a Commission auction. Additionally,
if an applicant applies for status as a
particular type of auction participant
pursuant to Commission rules, the
Commission uses information collected
on FCC Form 175 to determine whether
the applicant is eligible for the status
requested. Commission staff reviews the
information collected on FCC Form 175
for a particular auction as part of the
pre-auction process, prior to the auction
being held. Staff determines whether
each applicant satisfies the
Commission’s requirements to
participate in the auction and, if
applicable, is eligible for the status as a
particular type of auction participant it
requested. Without the information
collected on FCC Form 175, the
Commission will not be able to
determine if an applicant is legally,
technically, and financially qualified to
participate in a Commission auction,
including the forward auction
component of the BIA, and has
complied with the various applicable
regulatory and statutory auction
requirements for such participation. The
Commission plans to continue to use
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77341
the FCC Form 175 for all upcoming,
non-reverse spectrum auctions,
including those required or authorized
to be conducted pursuant to the
Spectrum Act, collecting only the
information necessary for each
particular auction.
Federal Communications Commission.
Gloria J. Miles,
Federal Register Liaison Officer, Office of the
Secretary.
[FR Doc. 2015–31318 Filed 12–11–15; 8:45 am]
BILLING CODE 6712–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities: Proposed Collection
Renewals; Comment Request (3064–
0046, 3064–0113, & 3064–0178)
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice and request for comment.
AGENCY:
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.
Currently, the FDIC is soliciting
comment on the renewal of the
information collections described
below.
SUMMARY:
Comments must be submitted on
or before February 12, 2016.
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 and number of the collection
in the subject line of the message.
• Mail: Gary A. Kuiper (202–898–
3877), Counsel, MB–3016 or Manuel E.
Cabeza (202–898–3767), Counsel MB–
3105, 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
DATES:
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77342
Federal Register / Vol. 80, No. 239 / Monday, December 14, 2015 / Notices
Budget, New Executive Office Building,
Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Gary
A. Kuiper or Manuel E. Cabeza, at the
FDIC address above.
SUPPLEMENTARY INFORMATION: Proposal
to renew the following currentlyapproved collections of information:
1. Title: Home Mortgage Disclosure
Act.
OMB Number: 3064–0046.
Affected Public: Insured state
nonmember banks.
Frequency of Response: On occasion.
Estimated Number of Respondents:
2,575.
Estimated Number of Responses:
1,091,614.
Estimated Time per Response: 5
minutes.
Total Annual Burden: 90,967 hours.
General Description: To permit the
FDIC to detect discrimination in
residential mortgage lending, certain
insured state nonmember banks are
required by FDIC Regulation 12 CFR 338
to maintain various data on home loan
applicants.
2. Title: External Audits.
OMB Number: 3064–0113.
Form Numbers: None.
Frequency of Response: Annually.
Affected Public: All insured financial
institutions with total assets of $500
million or more and other insured
financial institutions with total assets of
less than $500 million that voluntarily
choose to comply.
General Description: FDIC’s
regulations at 12 CFR 363 establish
annual independent audit and reporting
requirements for financial institutions
with total assets of $500 million or
more. The requirements include the
submission of an annual report on their
financial statements, recordkeeping
about management deliberations
regarding external auditing and reports
about changes in auditors. The
information collected is used to
facilitate early identification of
problems in financial management at
financial institutions.
Explanation of burden estimates: The
estimates of annual burden are based on
the estimated burden hours for FDICsupervised institutions within each
asset classification ($1 billion or more,
$500 million or more but less than $1
billion, and less than $500 million) to
comply with the requirements of Part
363 regarding the annual report, audit
committee, other reports, and the notice
of change in accountants. The number
of respondents reflects the number of
FDIC-supervised institutions in each
asset classification. The number of
annual responses reflects the estimated
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number of submissions for each asset
classification. The annual burden hours
reflects the estimated number of hours
for FDIC-supervised institutions within
each asset classification to comply with
the requirements of Part 363.
a. FDIC-Supervised Institutions with
Assets of $1 Billion or More.
Number of Respondents: 351.
Annual Responses: 1,141.
Estimated Time per Response: 69.84
hours.
Annual Burden Hours: 79,688 hours.
b. FDIC-Supervised Institutions with
Assets of $500 Million or More but Less
than $1 Billion.
Number of Respondents: 401.
Annual Responses: 1,303.
Estimated Time per Response: 8.42
hours.
Annual Burden Hours: 10,977 hours.
c. FDIC-Supervised Institutions with
Assets Less than $500 Million.
Number of Respondents: 3,291.
Annual Responses: 9,873.
Estimated Time per Response: 15
minutes.
Annual Burden Hours: 2,468 hours.
Total Number of Respondents: 4,043.
Total Annual Responses: 12,317.
Total Annual Burden Hours: 84,026
hours.
3. Title: Market Risk Capital
Requirements.
OMB Number: 3064–0178.
Form Numbers: None.
Frequency of Response: Occasionally.
Affected Public: Insured state
nonmember banks and state savings
associations.
Estimated Number of Respondents: 1.
Estimated Number of Responses: 1.
Total Annual Burden: 1,964 hours.
General Description: The FDIC’s
market risk capital rules (12 CFR part
324, subpart F) enhance risk sensitivity,
increase transparency through enhanced
disclosures and include requirements
for the public disclosure of certain
qualitative and quantitative information
about the market risk of state
nonmember banks and state savings
associations (FDIC-supervised
institutions). The market risk rule
applies only if a bank holding company
or bank has aggregated trading assets
and trading liabilities equal to 10
percent or more of quarter-end total
assets or $1 billion or more. Currently,
only one FDIC-regulated entity meets
the criteria. The information collection
requirements are located at 12 CFR
324.203 through 324.212. The collection
of information is necessary to ensure
capital adequacy appropriate for the
level of market risk.
Section 324.203(a)(1) requires FDICsupervised institutions to have clearly
defined policies and procedures for
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determining which trading assets and
trading liabilities are trading positions
and specifies the factors a FDICsupervised institutions must take into
account in drafting those policies and
procedures. Section 324.203(a)(2)
requires FDIC-supervised institutions to
have clearly defined trading and
hedging strategies for trading positions
that are approved by senior management
and specifies what the strategies must
articulate. Section 324.203(b)(1) requires
FDIC-supervised institutions to have
clearly defined policies and procedures
for actively managing all covered
positions and specifies the minimum
requirements for those policies and
procedures. Sections 324.203(c)(4)
through 324.203(c)(10) require the
annual review of internal models and
specify certain requirements for those
models. Section 324.203(d) requires the
internal audit group of a FDICsupervised institution to prepare an
annual report to the board of directors
on the effectiveness of controls
supporting the market risk measurement
systems.
Section 324.204(b) requires FDICsupervised institutions to conduct
quarterly backtesting. Section
324.205(a)(5) requires institutions to
demonstrate to the FDIC the
appropriateness of proxies used to
capture risks within value-at-risk
models. Section 324.205(c) requires
institutions to develop, retain, and make
available to the FDIC value-at-risk and
profit and loss information on subportfolios for two years. Section
324.206(b)(3) requires FDIC-supervised
institutions to have policies and
procedures that describe how they
determine the period of significant
financial stress used to calculate the
institution’s stressed value-at-risk
models and to obtain prior FDIC
approval for any material changes to
these policies and procedures.
Section 324.207(b)(1) details
requirements applicable to a FDICsupervised institution when the FDICsupervised institution uses internal
models to measure the specific risk of
certain covered positions. Section
324.208 requires FDIC-supervised
institutions to obtain prior written FDIC
approval for incremental risk modeling.
Section 324.209(a) requires prior FDIC
approval for the use of a comprehensive
risk measure. Section 324.209(c)(2)
requires FDIC-supervised institutions to
retain and report the results of
supervisory stress testing. Section
324.210(f)(2)(i) requires FDICsupervised institutions to document an
internal analysis of the risk
characteristics of each securitization
position in order to demonstrate an
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Federal Register / Vol. 80, No. 239 / Monday, December 14, 2015 / Notices
understanding of the position. Section
324.212 requires quarterly quantitative
disclosures, annual qualitative
disclosures, and a formal disclosure
policy approved by the board of
directors that addresses the approach for
determining the market risk disclosures
it makes.
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 collections of information,
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 collections of information
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 9th day of
December 2015.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2015–31389 Filed 12–11–15; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
mstockstill on DSK4VPTVN1PROD with NOTICES
Sunshine Act Meeting
Pursuant to the provisions of the
‘‘Government in the Sunshine Act’’ (5
U.S.C. 552b), notice is hereby given that
the Federal Deposit Insurance
Corporation’s Board of Directors will
meet in open session at 10:00 a.m. on
Tuesday, December 15, 2015, to
consider the following matters:
Summary Agenda: No substantive
discussion of the following items is
anticipated. These matters will be
resolved with a single vote unless a
member of the Board of Directors
requests that an item be moved to the
discussion agenda.
Disposition of minutes of previous
Board of Directors’ Meetings.
Memorandum and resolution: Review
of Regulations Transferred from the
Former Office of Thrift Supervision:
Part 390, Subpart V—Management
Official Interlocks.
Memorandum and resolution re:
Notice of Proposed Rulemaking
Regarding Proposed Revisions to Part
341 of the FDIC’s Rules and Regulations
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17:36 Dec 11, 2015
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Requiring the Registration of Securities
Transfer Agents.
Memorandum and resolution re:
Fourth Joint Federal Register Notice
Addressing FDIC Regulations in
Accordance with the Economic Growth
and Regulatory Paperwork Reduction
Act (‘‘EGRPRA’’).
Summary reports, status reports,
reports of the Office of Inspector
General, and reports of actions taken
pursuant to authority delegated by the
Board of Directors.
Discussion Agenda: Memorandum
and resolution re: Proposed 2016 FDIC
Operating Budget.
The meeting will be held in the Board
Room located on the sixth floor of the
FDIC Building located at 550 17th Street
NW., Washington, DC.
This Board meeting will be Webcast
live via the Internet and subsequently
made available on-demand
approximately one week after the event.
Visit https://fdic.primetime.
mediaplatform.com/#!/channel/123200
3497484/Board+Meetings to view the
event. If you need any technical
assistance, please visit our Video Help
page at: https://www.fdic.gov/video.html.
The FDIC will provide attendees with
auxiliary aids (e.g., sign language
interpretation) required for this meeting.
Those attendees needing such assistance
should call 703–562–2404 (Voice) or
703–649–4354 (Video Phone) to make
necessary arrangements.
Requests for further information
concerning the meeting may be directed
to Mr. Robert E. Feldman, Executive
Secretary of the Corporation, at 202–
898–7043.
Dated: December 9, 2015.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2015–31481 Filed 12–10–15; 11:15 am]
BILLING CODE 6714–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Notice to All Interested Parties of the
Termination of the Receivership of
10326, Legacy Bank, Scottsdale,
Arizona
Notice is hereby given that the Federal
Deposit Insurance Corporation (‘‘FDIC’’)
as Receiver for Legacy Bank, Scottsdale,
Arizona (‘‘the Receiver’’) intends to
terminate its receivership for said
institution. The FDIC was appointed
receiver of Legacy Bank on January 7,
2010. The liquidation of the
receivership assets has been completed.
To the extent permitted by available
funds and in accordance with law, the
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77343
Receiver will be making a final dividend
payment to proven creditors.
Based upon the foregoing, the
Receiver has determined that the
continued existence of the receivership
will serve no useful purpose.
Consequently, notice is given that the
receivership shall be terminated, to be
effective no sooner than thirty days after
the date of this Notice. If any person
wishes to comment concerning the
termination of the receivership, such
comment must be made in writing and
sent within thirty days of the date of
this Notice to: Federal Deposit
Insurance Corporation, Division of
Resolutions and Receiverships,
Attention: Receivership Oversight
Department 32.1, 1601 Bryan Street,
Dallas, TX 75201.
No comments concerning the
termination of this receivership will be
considered which are not sent within
this time frame.
Dated: December 9, 2015.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2015–31390 Filed 12–11–15; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL ELECTION COMMISSION
Sunshine Act Meetings
Federal Election Commission
Thursday, December 17,
2015 at 10:00 a.m.
PLACE: 999 E Street NW., Washington,
DC (ninth floor)
STATUS: This meeting will be open to the
public.
ITEMS TO BE DISCUSSED:
Correction and Approval of Minutes for
October 29, 2015
Remarks by Chair Ravel
Draft Advisory Opinion 2015–13:
Senator Harry Reid
Draft Advisory Opinion 2015–14:
Hillary for America
Rulemaking Petition: Independent
Spending by Corporations, Labor
Organizations, Foreign Nationals, and
Certain Political Committees (Citizens
United)
Rulemaking Priorities and Proposals:
Regulatory Relief for Political Parties;
REG 2014–10 Outline of Draft NPRM
Implementing Party Segregated
Accounts; REG 2013–01 Draft Notice
of Proposed Rulemaking on Technical
Modernization; Coordination
Rulemaking Proposal
Commission Documents/Public
Disclosure Policies
Notice of Proposed Rulemaking on
Reporting Multistate Independent
AGENCY:
DATE AND TIME:
E:\FR\FM\14DEN1.SGM
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Agencies
[Federal Register Volume 80, Number 239 (Monday, December 14, 2015)]
[Notices]
[Pages 77341-77343]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-31389]
=======================================================================
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FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Proposed Collection
Renewals; Comment Request (3064-0046, 3064-0113, & 3064-0178)
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
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. Currently, the FDIC is soliciting comment on the renewal of the
information collections described below.
DATES: Comments must be submitted on or before February 12, 2016.
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 and number of
the collection in the subject line of the message.
Mail: Gary A. Kuiper (202-898-3877), Counsel, MB-3016 or
Manuel E. Cabeza (202-898-3767), Counsel MB-3105, 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
[[Page 77342]]
Budget, New Executive Office Building, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Gary A. Kuiper or Manuel E. Cabeza, at
the FDIC address above.
SUPPLEMENTARY INFORMATION: Proposal to renew the following currently-
approved collections of information:
1. Title: Home Mortgage Disclosure Act.
OMB Number: 3064-0046.
Affected Public: Insured state nonmember banks.
Frequency of Response: On occasion.
Estimated Number of Respondents: 2,575.
Estimated Number of Responses: 1,091,614.
Estimated Time per Response: 5 minutes.
Total Annual Burden: 90,967 hours.
General Description: To permit the FDIC to detect discrimination in
residential mortgage lending, certain insured state nonmember banks are
required by FDIC Regulation 12 CFR 338 to maintain various data on home
loan applicants.
2. Title: External Audits.
OMB Number: 3064-0113.
Form Numbers: None.
Frequency of Response: Annually.
Affected Public: All insured financial institutions with total
assets of $500 million or more and other insured financial institutions
with total assets of less than $500 million that voluntarily choose to
comply.
General Description: FDIC's regulations at 12 CFR 363 establish
annual independent audit and reporting requirements for financial
institutions with total assets of $500 million or more. The
requirements include the submission of an annual report on their
financial statements, recordkeeping about management deliberations
regarding external auditing and reports about changes in auditors. The
information collected is used to facilitate early identification of
problems in financial management at financial institutions.
Explanation of burden estimates: The estimates of annual burden are
based on the estimated burden hours for FDIC-supervised institutions
within each asset classification ($1 billion or more, $500 million or
more but less than $1 billion, and less than $500 million) to comply
with the requirements of Part 363 regarding the annual report, audit
committee, other reports, and the notice of change in accountants. The
number of respondents reflects the number of FDIC-supervised
institutions in each asset classification. The number of annual
responses reflects the estimated number of submissions for each asset
classification. The annual burden hours reflects the estimated number
of hours for FDIC-supervised institutions within each asset
classification to comply with the requirements of Part 363.
a. FDIC-Supervised Institutions with Assets of $1 Billion or More.
Number of Respondents: 351.
Annual Responses: 1,141.
Estimated Time per Response: 69.84 hours.
Annual Burden Hours: 79,688 hours.
b. FDIC-Supervised Institutions with Assets of $500 Million or More
but Less than $1 Billion.
Number of Respondents: 401.
Annual Responses: 1,303.
Estimated Time per Response: 8.42 hours.
Annual Burden Hours: 10,977 hours.
c. FDIC-Supervised Institutions with Assets Less than $500 Million.
Number of Respondents: 3,291.
Annual Responses: 9,873.
Estimated Time per Response: 15 minutes.
Annual Burden Hours: 2,468 hours.
Total Number of Respondents: 4,043.
Total Annual Responses: 12,317.
Total Annual Burden Hours: 84,026 hours.
3. Title: Market Risk Capital Requirements.
OMB Number: 3064-0178.
Form Numbers: None.
Frequency of Response: Occasionally.
Affected Public: Insured state nonmember banks and state savings
associations.
Estimated Number of Respondents: 1.
Estimated Number of Responses: 1.
Total Annual Burden: 1,964 hours.
General Description: The FDIC's market risk capital rules (12 CFR
part 324, subpart F) enhance risk sensitivity, increase transparency
through enhanced disclosures and include requirements for the public
disclosure of certain qualitative and quantitative information about
the market risk of state nonmember banks and state savings associations
(FDIC-supervised institutions). The market risk rule applies only if a
bank holding company or bank has aggregated trading assets and trading
liabilities equal to 10 percent or more of quarter-end total assets or
$1 billion or more. Currently, only one FDIC-regulated entity meets the
criteria. The information collection requirements are located at 12 CFR
324.203 through 324.212. The collection of information is necessary to
ensure capital adequacy appropriate for the level of market risk.
Section 324.203(a)(1) requires FDIC-supervised institutions to have
clearly defined policies and procedures for determining which trading
assets and trading liabilities are trading positions and specifies the
factors a FDIC-supervised institutions must take into account in
drafting those policies and procedures. Section 324.203(a)(2) requires
FDIC-supervised institutions to have clearly defined trading and
hedging strategies for trading positions that are approved by senior
management and specifies what the strategies must articulate. Section
324.203(b)(1) requires FDIC-supervised institutions to have clearly
defined policies and procedures for actively managing all covered
positions and specifies the minimum requirements for those policies and
procedures. Sections 324.203(c)(4) through 324.203(c)(10) require the
annual review of internal models and specify certain requirements for
those models. Section 324.203(d) requires the internal audit group of a
FDIC-supervised institution to prepare an annual report to the board of
directors on the effectiveness of controls supporting the market risk
measurement systems.
Section 324.204(b) requires FDIC-supervised institutions to conduct
quarterly backtesting. Section 324.205(a)(5) requires institutions to
demonstrate to the FDIC the appropriateness of proxies used to capture
risks within value-at-risk models. Section 324.205(c) requires
institutions to develop, retain, and make available to the FDIC value-
at-risk and profit and loss information on sub-portfolios for two
years. Section 324.206(b)(3) requires FDIC-supervised institutions to
have policies and procedures that describe how they determine the
period of significant financial stress used to calculate the
institution's stressed value-at-risk models and to obtain prior FDIC
approval for any material changes to these policies and procedures.
Section 324.207(b)(1) details requirements applicable to a FDIC-
supervised institution when the FDIC-supervised institution uses
internal models to measure the specific risk of certain covered
positions. Section 324.208 requires FDIC-supervised institutions to
obtain prior written FDIC approval for incremental risk modeling.
Section 324.209(a) requires prior FDIC approval for the use of a
comprehensive risk measure. Section 324.209(c)(2) requires FDIC-
supervised institutions to retain and report the results of supervisory
stress testing. Section 324.210(f)(2)(i) requires FDIC-supervised
institutions to document an internal analysis of the risk
characteristics of each securitization position in order to demonstrate
an
[[Page 77343]]
understanding of the position. Section 324.212 requires quarterly
quantitative disclosures, annual qualitative disclosures, and a formal
disclosure policy approved by the board of directors that addresses the
approach for determining the market risk disclosures it makes.
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 collections of
information, 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
collections of information 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 9th day of December 2015.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2015-31389 Filed 12-11-15; 8:45 am]
BILLING CODE 6714-01-P