Agency Information Collection Activities: Proposed Collection Revisions; Comment Request, 8867-8870 [2018-04136]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 83, Number 41 (Thursday, March 1, 2018)]
[Notices]
[Pages 8867-8870]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-04136]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Revisions; Comment Request

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 three-year 
extension, with revisions, of existing information collections, as 
required by the Paperwork Reduction Act of 1995. Currently, the FDIC is 
soliciting comment on extension and revisions of the information 
collections described below.

DATES: Comments must be submitted on or before April 30, 2018.

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: [email protected]. Please include the name and OMB 
control number of the relevant information collection in the subject 
line of the message.
     Mail: Manny Cabeza, Counsel, Room 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. 
Written comments and/or suggestions can also be directed to the Office 
of Management and Budget, Office of Information and Regulatory Affairs, 
attention FDIC Desk Officer, New Executive Office Building, Washington, 
DC 20503 or sent to [email protected].

FOR FURTHER INFORMATION CONTACT: If you have additional comments, 
particularly with respect to the estimated public burden or associated 
response time, have suggestions, need a copy of any proposed 
information collection instrument and instructions, or desire any other 
additional information, please contact Manny Cabeza, Counsel, FDIC 
Legal Division, either by mail at Room MB-3007, Federal Deposit 
Insurance Corporation, 550 17th Street NW, Washington, DC 20429; by 
email at [email protected]; or by telephone at (202) 898-3767.

SUPPLEMENTARY INFORMATION: Written comments and suggestions from the 
public and affected agencies concerning the proposed collection of 
information are encouraged. All comments received will become a matter 
of public record. Your comments should address one or more of the 
following four points:

--Evaluate whether the proposed collection of information is necessary 
for the proper performance of the functions of the agency, including 
whether the information has practical utility;
--Evaluate the accuracy of the agency's estimate of the burden of the 
proposed information collection, including the validity of the 
methodology and assumptions used;
--Evaluate whether and if so, how, the quality, utility, and clarity of 
the information to be collected can be enhanced; and
--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.


[[Page 8868]]


    Overview of the Information Collection Requests. The FDIC proposes 
to implement a number of revisions to currently-approved information 
collections, based on the recommendations of an interagency working 
group comprised of representatives from the FDIC, the Board of 
Governors of the Federal Reserve System, and the Office of the 
Comptroller of the Currency, who collaborated to recommend the proposed 
changes. The proposed changes are being made to: (a) Improve the 
clarity of the requests; (b) reflect new laws, regulations, capital 
requirements and accounting rules; (c) delete information requests that 
have been determined to be unnecessary for the analysis of the filing; 
and (d) add transparency for filers regarding the information that is 
required to consider a filing. In determining which changes to propose, 
the FDIC surveyed its regional offices to solicit recommendations for 
changes to the forms and considered the effects of the changes on 
community bank organizations, which represent the majority of filers. 
Although the revisions add items to these forms, the FDIC believes that 
some of these additions are related to information typically requested 
on a follow-up basis. Requesting the information up-front should 
increase transparency for filers as well as improve the efficiency of 
the submission and review process.
    The FDIC is proposing to revise and request a three-year extension 
of the following currently-approved collections of information:
    1. Title: Interagency Biographical and Financial Report.
    OMB Number: 3064-0006.
    Type: Revision of a currently approved collection.
    Form: Interagency Biographical and Financial Report.
    Form Number: 6200/06.
    Affected Public: Individuals or households; business or other for 
profit; Insured state nonmember banks and state savings associations.
    Estimated Number of Annual Respondents: 574.
    Estimated Time per Response: 4.5 hours.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 2,583 hours.
    General Description of Collection: The Interagency Biographical and 
Financial Report is submitted to the FDIC by: (1) Each individual 
director, officer, or individual or group of shareholders acting in 
concert that will own or control 10 percent or more, of a proposed or 
operating depository institution applying for FDIC deposit insurance; 
(2) a person proposing to acquire control of an insured state nonmember 
bank, state savings association (FDIC-supervised institution) and 
certain parent companies of such entities; (3) each proposed new 
director or proposed new chief executive officer of an FDIC-supervised 
institution which has undergone a change in control within the 
preceding twelve months; and (4) each proposed new director or senior 
executive officer of an FDIC-supervised institution that is not in 
compliance with all minimum capital requirements, is in troubled 
condition, or otherwise is required to provide such notice. The 
information collected is used by the FDIC to evaluate the general 
character and financial condition of individuals who will be involved 
in the management or control of financial institutions, as required by 
statute. In order to lessen the burden on applicants, the FDIC 
cooperates with the other federal banking agencies to the maximum 
extent possible in processing the various applications.
    Proposed Revisions: The proposed changes for the Interagency 
Biographical and Financial Report include additional requested items 
relating to information that generally was previously requested as 
supplemental information subsequent to the filing of the initial 
application; clarification of exact requirements of certain requests; 
deletion of certain requested items that the FDIC no longer believes 
are helpful in evaluating the notice; and other minor changes for 
improved grammar, comprehension, and accurate citations and mailing 
addresses. Because a filer may require some additional time to 
incorporate supplemental documentation, particularly in connection with 
the requested description of pending legal and related matters, the 
FDIC estimates that the proposed revisions will result in an additional 
half an hour of reporting burden for each filer. Accordingly, the 
estimated time per response is being increased from 4 hours to 4.5 
hours. The proposed revised ``Interagency Biographical and Financial 
Report'' form and a redlined version highlighting the proposed 
revisions from the currently-approved form may be reviewed by the 
public at https://www.FDIC.gov/regulations/laws/federal.
    2. Title: Interagency Bank Merger Act Application.
    OMB Number: 3064-0015.
    Type: Revision of a currently approved collection.
    Form: Interagency Bank Merger Act Application.
    Form Number: 6220/01.
    Affected Public: Individuals or households; business or other for 
profit.

                                                Estimated Burden
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                                        Number of                                                      Total
                                         annual         Frequency of response        Hours per       estimated
                                       respondents                                   response      annual hours
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Affiliate..........................             134  On Occasion................              19           2,546
Nonaffiliate.......................             162  On Occasion................              31           5,022
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    Total..........................             296  ...........................  ..............           7,568
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    General Description of Collection: The Interagency Bank Merger Act 
Application form is used by the FDIC, the Board of Governors of the 
Federal Reserve System, and the Office of the Comptroller of the 
Currency for applications under section 18(c) of the Federal Deposit 
Insurance Act (FDIA), as amended (12 U.S.C. 1828(c)). The application 
is used for a merger, consolidation, or other combining transaction 
between nonaffiliated parties as well as to effect a corporate 
reorganization between affiliated parties (affiliate transaction). An 
affiliate transaction refers to a merger transaction or other business 
combination (including a purchase and assumption) between institutions 
that are commonly controlled (for example, between a depository 
institution and an affiliated interim institution). There are different 
levels of burden for nonaffiliate and affiliate transactions. 
Applicants proposing affiliate transactions are required to provide 
less information than applicants involved in

[[Page 8869]]

the merger of two unaffiliated entities. If depository institutions are 
not controlled by the same holding company, the merger transaction is 
considered a nonaffiliate transaction.
    Proposed Revisions: The proposed changes to the Interagency Bank 
Merger Act Application form include additional items relating to 
information that was previously requested as supplemental information 
subsequent to the filing of the initial application; clarification of 
certain requested items related to biographical and financial 
information for principals and to Community Reinvestment Act-related 
information; deletion of the request for cash flow projections for the 
parent company; updated requests to account for statutory 
considerations related to the effect of a transaction on the stability 
of the United States financial system, changes to capital requirements 
and accounting rules; and other minor changes to improve grammar and 
readability, provide accurate citations to authority, and update 
mailing addresses. As a result of the revisions described above, 
applicants may need to provide additional financial information, 
describe pending litigation and investigations, and summarize the 
effects of a proposed transaction on financial stability. For this 
reason, the FDIC estimates that the proposed revisions will result in 
an additional hour of burden for each applicant. Accordingly, the 
estimated times per response are being increased from 18 to 19 hours 
for affiliate transactions and 30 to 31 hours for nonaffiliate 
transactions. The proposed revised ``Interagency Bank Merger Act 
Application'' form and a redlined version highlighting the proposed 
revisions from the currently-approved form may be reviewed by the 
public at https://www.FDIC.gov/regulations/laws/federal.
    3. Title: Interagency Notice of Change in Control.
    OMB Number: 3064-0019.
    Type: Revision of a currently approved collection.
    Form: Interagency Notice of Change in Control.
    Form Number: 6822/01.
    Affected Public: Individuals, insured state nonmember banks, and 
insured state savings associations.
    Estimated Number of Annual Respondents: 25.
    Estimated Time per Response: 30.5 hours.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 763 hours.
    General Description of Collection: Section 7(j) of the FDIA (Change 
in Bank Control Act of 1978, 12 U.S.C. 1817(j)) and sections 303.80-88 
of the FDIC Rules and Regulations (12 CFR 303.80 et seq.) require that 
any person proposing to acquire control of an insured depository 
institution and certain parent companies thereof provide 60 days prior 
written notice of the proposed acquisition to the appropriate federal 
banking agency. Such written notice which pertains to the acquisition 
of control of an FDIC-supervised institution and certain parent 
companies thereof is filed with the regional director of the FDIC 
region in which the bank is located. The FDIC reviews the information 
reported in the Notice to assess, in part, any anticompetitive and 
monopolistic effects of the proposed acquisition, to determine if the 
financial condition of any acquiring person or the future prospects of 
the institution might jeopardize the financial stability of the 
institution or prejudice the interests of the depositors of the 
institution, and to determine whether the competence, experience, or 
integrity of any acquiring person, or of any of the proposed management 
personnel, indicates that it would not be in the interest of the 
depositors of the institution, or in the interest of the public, to 
permit such persons to control the bank. The FDIC must also make an 
independent determination of the accuracy and completeness of all of 
the information required to be filed in conjunction with a Notice.
    Proposed Revisions: The proposed changes for the Interagency Notice 
of Change in Control form include additional requested items relating 
to information that generally was previously requested as supplemental 
information subsequent to the filing of the initial application; 
clarification of exact requirements of certain requests; deletion of 
certain requested items that the FDIC no longer believes are helpful in 
evaluating the Notice; and other minor changes for improved grammar, 
comprehension, and accurate citations and mailing addresses. Because 
certain applicants may need additional time to complete the requested 
breakdowns of voting and nonvoting securities, and stock options and 
warrants that were previously requested by the agencies later in the 
process, and to include a narrative description of the proposed 
transaction, the FDIC estimates that the proposed revisions would 
require an additional half an hour of burden for each respondent. 
Accordingly, the estimated time per response is being increased from 30 
hours to 30.5 hours. The proposed revised ``Interagency Notice of 
Change in Control'' form and a redlined version highlighting the 
proposed revisions from the currently-approved form may be reviewed by 
the public at https://www.FDIC.gov/regulations/laws/federal.
    4. Title: Interagency Notice of Change in Director or Senior 
Executive Officer.
    OMB Number: 3064-0097.
    Type: Revision of a currently approved collection.
    Form: Interagency Notice of Change in Director or Senior Executive 
Officer.
    Form Number: 6822/02.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Estimated Number of Annual Respondents: 325.
    Estimated Time per Response: 2 hours.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 650 hours.
    General Description of Collection: Section 32 of the FDIA (12 
U.S.C. 1831i) requires an insured depository institution or depository 
institution holding company under certain circumstances to notify the 
appropriate federal banking agency of the proposed addition of any 
individual to the board of directors or the employment of any 
individual as a senior executive officer of such institution at least 
30 days before such addition or employment becomes effective. Section 
32 of the FDIA also provides that the FDIC may disapprove an 
individual's service as a director or senior executive officer of 
certain state nonmember banks or state savings associations if, upon 
assessing the individual's competence, experience, character, and 
integrity, it is determined that the individual's service would not be 
in the best interest of the depositors of the institution or the 
public. The Interagency Notice of Change in Director or Senior 
Executive Officer, with the information contained in the Interagency 
Biographical and Financial Report (described above) as an attachment, 
is used by the FDIC to collect information relevant to assess the 
individual's competence, experience, character, and integrity.
    Proposed Revisions: The proposed changes for the Interagency Notice 
of Change in Director or Senior Executive Officer form include 
clarifications of existing information requested and exceptions to the 
extent they may be relied upon by applicants; deletion of certain 
formerly requested items that are no longer needed to evaluate the 
notice; and other minor changes for improved grammar, comprehension, 
and accurate citations and mailing addresses. The FDIC believes these 
revisions will not change the estimated time per response.

[[Page 8870]]

The proposed revised Interagency Notice of Change in Director or Senior 
Executive Officer form and a redlined version highlighting the proposed 
revisions from the currently-approved form may be reviewed by the 
public at https://www.FDIC.gov/regulations/laws/federal.

    Dated at Washington, DC, on February 23, 2018.

Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2018-04136 Filed 2-28-18; 8:45 am]
 BILLING CODE 6714-01-P