Agency Information Collection Activities: Submission for OMB Review; Comment Request, 37656-37658 [2020-13425]
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37656
Federal Register / Vol. 85, No. 121 / Tuesday, June 23, 2020 / Notices
Ave. NW, Washington, DC 20460–0001;
telephone number: (202) 564–1208;
email address: coleman.todd@epa.gov.
SUPPLEMENTARY INFORMATION:
Supporting documents, which explain
in detail the information that the EPA
will be collecting, are available in the
public docket for this ICR. The docket
can be viewed online at
www.regulations.gov. Out of an
abundance of caution for members of
the public and our staff, the EPA Docket
Center and Reading Room was closed to
public visitors on March 31, 2020, to
reduce the risk of transmitting COVID–
19. Our Docket Center staff will
continue to provide remote customer
service via email, phone, and webform.
For further information on EPA Docket
Center services and the current status,
please visit https://www.epa.gov/
dockets.
Abstract: This ICR renewal covers the
recordkeeping and reporting
requirements for all aspects of the TSCA
Title VI implementing regulations and
regulations relating to accreditation
bodies (ABs) and third-party certifiers
(TPCs) that wish to participate in this
third-party certification program. These
ABs and TPCs must submit initial
applications for recognition and update
those applications every three and two
years respectively using the Agency’s
Central Data Exchange (CDX) system. In
addition, ABs and TPCs must submit
annual reports which relay certain
information to the Agency on the TSCA
Title VI certification and testing
activities both ABs and TPCs have
performed over the last year.
TPCs are responsible for the
certification of regulated composite
wood products at the mill level through
the oversight of panel producers,
routine quarterly testing of composite
wood products, and physical
inspections of the panel production
facilities. Through CDX, TPCs are
responsible for reporting information
including various notifications and
annual reports.
Panel producers are responsible for
communicating routine testing
documentation to their respective TPC
pursuant to their responsibilities under
40 CFR 770.20 and 40 CFR 770.40.
Panel producers are also responsible for
providing certain records to
downstream entities and purchasers of
regulated composite wood products as
well as the Agency, upon request.
Importers, fabricators, distributors,
and retailers are responsible for
maintaining records pursuant to 40 CFR
770.30 and 40 CFR 770.40(d).
Respondents/Affected Entities: Panel
producers, fabricators, distributors,
retailers, TPCs, and ABs.
Respondent’s obligation to respond:
Mandatory (15 U.S.C. 2697).
Estimated total number of potential
respondents: 990,269 firms (total).
Frequency of response: On occasion.
Estimated total burden: 84,793 hours
(per year). Burden is defined at 5 CFR
1320.3(b).
Estimated total costs: $19,638,018
(per year), with no annualized capital or
operation and maintenance costs.
Changes in the estimates: There is an
overall decrease of 1,396,732 hours in
the total estimated combined
respondent burden that is currently
approved by OMB. The decrease is due
to adjustments in EPA’s estimates of the
burden, including revisions to the
estimated burden reflecting activities
that only had one-time burdens
associated with the initial
implementation of the rule, and
revisions to the estimated number of
respondents based on the actual number
of participants in the TSCA Title VI
program.
Courtney Kerwin,
Director, Regulatory Support Division.
[FR Doc. 2020–13456 Filed 6–22–20; 8:45 am]
BILLING CODE 6560–50–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
[OMB No. 3064–0061; –0125; and –0176]
Agency Information Collection
Activities: Submission for OMB
Review; Comment Request
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Agency Information Collection
Activities: Submission for OMB Review;
Comment Request.
AGENCY:
The FDIC, as part of its
obligations under the Paperwork
Reduction Act of 1995, invites the
SUMMARY:
general public and other Federal
agencies to take this opportunity to
comment on the renewal of the existing
information collections described
below. On March 17, 2020, the FDIC
requested comment for 60 days on a
proposal to renew these information
collections. No comments were
received. The FDIC hereby gives notice
of its plan to submit to OMB a request
to approve the renewal of these
information collections, and again
invites comment on their renewal.
DATES: Comments must be submitted on
or before July 23, 2020.
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: Manny Cabeza (202–898–
3767), Regulatory Counsel, MB–3128,
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.
Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
FOR FURTHER INFORMATION CONTACT:
Manny Cabeza, Regulatory Counsel,
202–898–3767, mcabeza@fdic.gov, MB–
3128, Federal Deposit Insurance
Corporation, 550 17th Street NW,
Washington, DC 20429.
SUPPLEMENTARY INFORMATION: Proposal
to renew the following currently
approved collections of information:
1. Title: Summary of Deposits.
OMB Number: 3064–0061.
Affected Public: FDIC-insured
depository institutions.
Burden Estimate:
jbell on DSKJLSW7X2PROD with NOTICES
SUMMARY OF ANNUAL BURDEN
Information collection
description
Type of burden
Obligation to
respond
Summary of Deposits ....................
Reporting ..........
Mandatory .........
VerDate Sep<11>2014
17:17 Jun 22, 2020
Jkt 250001
PO 00000
Frm 00035
Fmt 4703
Estimated
number of
respondents
4,299
Sfmt 4703
Estimated
frequency
of responses
Annually ............
E:\FR\FM\23JNN1.SGM
23JNN1
Estimated time
per response
(hours)
Estimated
annual burden
(hours)
3
12,897
37657
Federal Register / Vol. 85, No. 121 / Tuesday, June 23, 2020 / Notices
SUMMARY OF ANNUAL BURDEN—Continued
Information collection
description
Total Estimated Annual Burden.
Type of burden
Obligation to
respond
Estimated
number of
respondents
Estimated
frequency
of responses
Estimated time
per response
(hours)
Estimated
annual burden
(hours)
...........................
...........................
........................
...........................
........................
12,897
General Description of Collection: The
Summary of Deposits (SOD) is the
annual survey of branch office deposits
as of June 30 for all FDIC-insured
institutions, including insured U.S.
branches of foreign banks. All FDICinsured institutions that operate a main
office and one or more branch locations
(including limited service drive-thru
locations) as of June 30 each year are
required to file the SOD Survey. Insured
branches of foreign banks are also
required to file. All data collected on the
SOD submission are available to the
public. The survey data provides a basis
for measuring the competitive impact of
bank mergers and has additional use in
research on banking.
There is no change in the substance
or methodology of this information
collection. The change in burden is due
solely to the decrease in the estimated
number of respondents by 544 from the
estimated 4,843 annual respondents in
the currently-approved information
collection to the current estimate of
4,299. The decrease in estimated
respondents is the result of the drop in
the total number of insured depository
institutions.
2. Title: Foreign Banking Investments
by Insured State Nonmember Banks.
OMB Number: 3064–0125.
jbell on DSKJLSW7X2PROD with NOTICES
SUMMARY OF ANNUAL BURDEN
Estimated
number of
respondents
Estimated
frequency of
responses
Estimated time
per response
(hours)
Estimated
annual burden
(hours)
On Occasion .....
2
2
1
On Occasion .....
40
40
Mandatory .........
1
On Occasion .....
2
2
Reporting ..........
Mandatory .........
1
On Occasion .....
6
6
Reporting ..........
Mandatory .........
2
On Occasion .....
60
120
Reporting ..........
Mandatory .........
2
On Occasion .....
1
2
Recordkeeping ..
Mandatory .........
10
On Occasion .....
400
4,000
...........................
...........................
........................
...........................
........................
4,172
Information collection description
Type of burden
Obligation to
respond
Notices or applications to establish, move, or close a foreign
branch (303.182).
Notices or applications for authorization for foreign branch to engage in activities other than
those permitted in 347.115
(303.121).
Notices or applications by insured
state nonmember bank to invest
in, or divest its interest in, a foreign organization (303.183).
Merger transactions involving foreign organizations (303.185(b)
referencing 303.62).
Notices or applications to invest in
foreign organizations, or to engage in certain activities through
foreign
organizations
(303.183(b) and\or 303.121).
Notice of foreign divestiture of foreign organization (303.183(d).
Document policies and procedures
for supervision of foreign activities of insured state nonmember
banks
(347.116)(Implementation).
Reporting ..........
Mandatory .........
1
Reporting ..........
Mandatory .........
Reporting ..........
Total Estimated Annual Burden.
Affected Public: Insured state
nonmember banks and state savings
associations.
Burden Estimate:
General Description of Collection: The
Federal Deposit Insurance (FDI) Act
requires state nonmember banks to
obtain FDIC consent to establish or
operate a foreign branch, or to acquire
and hold, directly or indirectly, stock or
other evidence of ownership in any
foreign bank or other entity. The FDI
VerDate Sep<11>2014
17:17 Jun 22, 2020
Jkt 250001
Act also authorizes the FDIC to impose
conditions for such consent and to issue
regulations related thereto. This
collection is a direct consequence of
those statutory requirements.
There is no change in the substance
or methodology of this information
collection. The change in burden is due
solely to the decrease in the estimated
number of respondents by 2 from the
estimated 20 annual respondents in the
currently-approved information
PO 00000
Frm 00036
Fmt 4703
Sfmt 4703
collection to the current estimate of 18.
The decrease in estimated respondents
is the result of the drop in the total
number of insured depository
institutions.
3. Title: Reverse Mortgage Products.
OMB Number: 3064–0176.
Affected Public: Insured state
nonmember banks and state savings
associations making reverse mortgage.
Burden Estimate:
E:\FR\FM\23JNN1.SGM
23JNN1
37658
Federal Register / Vol. 85, No. 121 / Tuesday, June 23, 2020 / Notices
SUMMARY OF ANNUAL BURDEN
Information collection description
Reverse Mortgage Products—Implementation.
Reverse Mortgage Products—Ongoing.
Total Estimated Annual Burden.
Estimated time
per response
(hours)
Estimated annual burden
(hours)
1
1 ........................
40
40
Voluntary ...........
30
1 ........................
8
248
...........................
...........................
........................
...........................
........................
280
The FDIC revised its estimates of the
number of respondents to this
information collection based on changes
in the estimated number of respondents
due to economic conditions. The hourly
burden per response remains the same,
recognizing a difference between the
amount of time required to implement
policies and procedures and the amount
of time required to maintain records on
an ongoing basis once those policies and
procedures have been established.
Total Estimated Number of Respondents
jbell on DSKJLSW7X2PROD with NOTICES
Estimated
frequency of
responses
Voluntary ...........
Methodology and Assumptions
FDIC revised its estimate of the
number of respondents to this
information collection. Potential
respondents to this information
collection include all FDIC-supervised
institutions that adopt or revise policies
and procedures regarding reverse
mortgage offerings. The estimate for
respondents with ongoing reverse
mortgage products was calculated using
2018 Home Mortgage Disclosure Act
(HMDA) data and 2018 monthly U.S.
Department of Housing and Urban
Development (HUD) Home Equity
Conversion Mortgage (HECM) data. For
the 2018 HMDA data, the FDIC
identified 27 institutions that had at
least 1 application for a reverse
mortgage.1 In order to account for
reverse mortgage originators who did
HMDA only began tracking reverse mortgages
with the 2018 HMDA data, meaning that there is no
way to identify reverse mortgages in HMDA data in
2017 or earlier.
1
17:17 Jun 22, 2020
Estimated
number of
respondents
Third-Party Disclosure.
Third-Party Disclosure.
General Description of Collection:
Respondents must prepare and provide
certain disclosures to consumers (e.g.,
that insurance products and annuities
are not FDIC-insured) and obtain
consumer acknowledgments, at two
different times: (1) Before the
completion of the initial sale of an
insurance product or annuity to a
consumer; and (2) at the time of
application for the extension of credit (if
insurance products or annuities are
sold, solicited, advertised, or offered in
connection with an extension of credit).
VerDate Sep<11>2014
Obligation to
respond
Type of burden
Jkt 250001
not report HMDA data, the FDIC cross
referenced to the 2018 HUD HECM data
and identified 6 institutions with at
least 1 application in the 2018 HUD
HECM data. Three of those institutions
were also identified in the 2018 HMDA
data; thus, the FDIC identified 30 total
reverse mortgage originators using 2018
data from the two sources.
To estimate the number of institutions
facing implementation burden, FDIC
looked at the change in the estimated
number of respondents facing ongoing
burden for revising existing policies and
procedures. In 2016 FDIC estimated the
number of respondents facing ongoing
burden to be 26. The current estimated
number of FDIC-supervised institutions
that offer reverse mortgages is 30. The
FDIC assumes that approximately 4
institutions began offering reverse
mortgages over the last three years and
estimates the number of respondents
implementing reverse mortgage
products to be approximately one per
year.
Estimated Hourly Burden
FDIC estimates the recordkeeping
burden associated with implementing
and documenting incentive-based
compensation policies and procedures
to be 40 hours per respondent, per year.
FDIC estimates the recordkeeping
burden associated with revising and
documenting incentive-based
compensation policies and procedures
previously adopted and documented to
be 8 hours per respondent, per year.
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 collection of information
on respondents, including through the
PO 00000
Frm 00037
Fmt 4703
Sfmt 4703
use of automated collection techniques
or other forms of information
technology. All comments will become
a matter of public record.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on June 17, 2020.
James P. Sheesley,
Acting Assistant Executive Secretary.
[FR Doc. 2020–13425 Filed 6–22–20; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Sunshine Act Meeting
2:30 p.m. on Thursday,
June 25, 2020.
PLACE: The meeting is open to the
public. Out of an abundance of caution
related to current and potential
coronavirus developments, the public’s
means to observe this Board meeting
will be via a Webcast live on the
internet and subsequently made
available on-demand approximately one
week after the event. Visit https://
fdic.windrosemedia.com to view the
live event. Visit https://
fdic.windrosemedia.com/
index.php?category=
FDIC+Board+Meetings after the meeting.
If you need any technical assistance,
please visit our Video Help page at:
https://www.fdic.gov/video.html.
Observers requiring auxiliary aids
(e.g., sign language interpretation) for
this meeting should call 703–562–2404
(Voice) or 703–649–4354 (Video Phone)
to make necessary arrangements.
STATUS: Open.
MATTERS TO BE CONSIDERED: 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 to
consider the following matters:
TIME AND DATE:
Summary Agenda
No substantive discussion of the
following items is anticipated. These
matters will be resolved with a single
E:\FR\FM\23JNN1.SGM
23JNN1
]]>Agencies
[Federal Register Volume 85, Number 121 (Tuesday, June 23, 2020)]
[Notices]
[Pages 37656-37658]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-13425]
=======================================================================
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0061; -0125; and -0176]
Agency Information Collection Activities: Submission for OMB
Review; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Agency Information Collection Activities: Submission for OMB
Review; Comment Request.
-----------------------------------------------------------------------
SUMMARY: The FDIC, as part of its obligations under the Paperwork
Reduction Act of 1995, invites the general public and other Federal
agencies to take this opportunity to comment on the renewal of the
existing information collections described below. On March 17, 2020,
the FDIC requested comment for 60 days on a proposal to renew these
information collections. No comments were received. The FDIC hereby
gives notice of its plan to submit to OMB a request to approve the
renewal of these information collections, and again invites comment on
their renewal.
DATES: Comments must be submitted on or before July 23, 2020.
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]. Include the name and number of
the collection in the subject line of the message.
Mail: Manny Cabeza (202-898-3767), Regulatory Counsel, MB-
3128, 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.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
to www.reginfo.gov/public/do/PRAMain. Find this particular information
collection by selecting ``Currently under 30-day Review--Open for
Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Manny Cabeza, Regulatory Counsel,
202-898-3767, [email protected], MB-3128, Federal Deposit Insurance
Corporation, 550 17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION: Proposal to renew the following currently
approved collections of information:
1. Title: Summary of Deposits.
OMB Number: 3064-0061.
Affected Public: FDIC-insured depository institutions.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated time Estimated
Information collection description Type of burden Obligation to number of Estimated frequency per response annual burden
respond respondents of responses (hours) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Summary of Deposits................ Reporting............ Mandatory............ 4,299 Annually............. 3 12,897
---------------- -------------------------------
[[Page 37657]]
Total Estimated Annual Burden.. ..................... ..................... .............. ..................... .............. 12,897
--------------------------------------------------------------------------------------------------------------------------------------------------------
General Description of Collection: The Summary of Deposits (SOD) is
the annual survey of branch office deposits as of June 30 for all FDIC-
insured institutions, including insured U.S. branches of foreign banks.
All FDIC-insured institutions that operate a main office and one or
more branch locations (including limited service drive-thru locations)
as of June 30 each year are required to file the SOD Survey. Insured
branches of foreign banks are also required to file. All data collected
on the SOD submission are available to the public. The survey data
provides a basis for measuring the competitive impact of bank mergers
and has additional use in research on banking.
There is no change in the substance or methodology of this
information collection. The change in burden is due solely to the
decrease in the estimated number of respondents by 544 from the
estimated 4,843 annual respondents in the currently-approved
information collection to the current estimate of 4,299. The decrease
in estimated respondents is the result of the drop in the total number
of insured depository institutions.
2. Title: Foreign Banking Investments by Insured State Nonmember
Banks.
OMB Number: 3064-0125.
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated time Estimated
Information collection description Type of burden Obligation to number of Estimated frequency per response annual burden
respond respondents of responses (hours) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Notices or applications to Reporting............ Mandatory............ 1 On Occasion.......... 2 2
establish, move, or close a
foreign branch (303.182).
Notices or applications for Reporting............ Mandatory............ 1 On Occasion.......... 40 40
authorization for foreign branch
to engage in activities other than
those permitted in 347.115
(303.121).
Notices or applications by insured Reporting............ Mandatory............ 1 On Occasion.......... 2 2
state nonmember bank to invest in,
or divest its interest in, a
foreign organization (303.183).
Merger transactions involving Reporting............ Mandatory............ 1 On Occasion.......... 6 6
foreign organizations (303.185(b)
referencing 303.62).
Notices or applications to invest Reporting............ Mandatory............ 2 On Occasion.......... 60 120
in foreign organizations, or to
engage in certain activities
through foreign organizations
(303.183(b) and\or 303.121).
Notice of foreign divestiture of Reporting............ Mandatory............ 2 On Occasion.......... 1 2
foreign organization (303.183(d).
Document policies and procedures Recordkeeping........ Mandatory............ 10 On Occasion.......... 400 4,000
for supervision of foreign
activities of insured state
nonmember banks
(347.116)(Implementation).
---------------- -------------------------------
Total Estimated Annual Burden.. ..................... ..................... .............. ..................... .............. 4,172
--------------------------------------------------------------------------------------------------------------------------------------------------------
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:
General Description of Collection: The Federal Deposit Insurance
(FDI) Act requires state nonmember banks to obtain FDIC consent to
establish or operate a foreign branch, or to acquire and hold, directly
or indirectly, stock or other evidence of ownership in any foreign bank
or other entity. The FDI Act also authorizes the FDIC to impose
conditions for such consent and to issue regulations related thereto.
This collection is a direct consequence of those statutory
requirements.
There is no change in the substance or methodology of this
information collection. The change in burden is due solely to the
decrease in the estimated number of respondents by 2 from the estimated
20 annual respondents in the currently-approved information collection
to the current estimate of 18. The decrease in estimated respondents is
the result of the drop in the total number of insured depository
institutions.
3. Title: Reverse Mortgage Products.
OMB Number: 3064-0176.
Affected Public: Insured state nonmember banks and state savings
associations making reverse mortgage.
Burden Estimate:
[[Page 37658]]
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated time Estimated
Information collection description Type of burden Obligation to number of Estimated frequency per response annual burden
respond respondents of responses (hours) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Reverse Mortgage Products-- Third-Party Voluntary............ 1 1.................... 40 40
Implementation. Disclosure.
Reverse Mortgage Products--Ongoing. Third-Party Voluntary............ 30 1.................... 8 248
Disclosure.
----------------------------------------------------------------------
Total Estimated Annual Burden.. ..................... ..................... .............. ..................... .............. 280
--------------------------------------------------------------------------------------------------------------------------------------------------------
General Description of Collection: Respondents must prepare and
provide certain disclosures to consumers (e.g., that insurance products
and annuities are not FDIC-insured) and obtain consumer
acknowledgments, at two different times: (1) Before the completion of
the initial sale of an insurance product or annuity to a consumer; and
(2) at the time of application for the extension of credit (if
insurance products or annuities are sold, solicited, advertised, or
offered in connection with an extension of credit).
Methodology and Assumptions
The FDIC revised its estimates of the number of respondents to this
information collection based on changes in the estimated number of
respondents due to economic conditions. The hourly burden per response
remains the same, recognizing a difference between the amount of time
required to implement policies and procedures and the amount of time
required to maintain records on an ongoing basis once those policies
and procedures have been established.
Total Estimated Number of Respondents
FDIC revised its estimate of the number of respondents to this
information collection. Potential respondents to this information
collection include all FDIC-supervised institutions that adopt or
revise policies and procedures regarding reverse mortgage offerings.
The estimate for respondents with ongoing reverse mortgage products was
calculated using 2018 Home Mortgage Disclosure Act (HMDA) data and 2018
monthly U.S. Department of Housing and Urban Development (HUD) Home
Equity Conversion Mortgage (HECM) data. For the 2018 HMDA data, the
FDIC identified 27 institutions that had at least 1 application for a
reverse mortgage.\1\ In order to account for reverse mortgage
originators who did not report HMDA data, the FDIC cross referenced to
the 2018 HUD HECM data and identified 6 institutions with at least 1
application in the 2018 HUD HECM data. Three of those institutions were
also identified in the 2018 HMDA data; thus, the FDIC identified 30
total reverse mortgage originators using 2018 data from the two
sources.
---------------------------------------------------------------------------
\1\ HMDA only began tracking reverse mortgages with the 2018
HMDA data, meaning that there is no way to identify reverse
mortgages in HMDA data in 2017 or earlier.
---------------------------------------------------------------------------
To estimate the number of institutions facing implementation
burden, FDIC looked at the change in the estimated number of
respondents facing ongoing burden for revising existing policies and
procedures. In 2016 FDIC estimated the number of respondents facing
ongoing burden to be 26. The current estimated number of FDIC-
supervised institutions that offer reverse mortgages is 30. The FDIC
assumes that approximately 4 institutions began offering reverse
mortgages over the last three years and estimates the number of
respondents implementing reverse mortgage products to be approximately
one per year.
Estimated Hourly Burden
FDIC estimates the recordkeeping burden associated with
implementing and documenting incentive-based compensation policies and
procedures to be 40 hours per respondent, per year. FDIC estimates the
recordkeeping burden associated with revising and documenting
incentive-based compensation policies and procedures previously adopted
and documented to be 8 hours per respondent, per year.
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 collection 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.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on June 17, 2020.
James P. Sheesley,
Acting Assistant Executive Secretary.
[FR Doc. 2020-13425 Filed 6-22-20; 8:45 am]
BILLING CODE 6714-01-P
