Agency Information Collection Activities: Proposed Collection Renewal; Comment Request, 9935-9938 [2021-03171]
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9935
Federal Register / Vol. 86, No. 30 / Wednesday, February 17, 2021 / Notices
seventh Household Survey as a
supplement to the June 2021 CPS. On
December 2, 2020, the FDIC requested
comment for 60 days on this proposed
information collection to conduct the
Household Survey.1 The FDIC received
no comments.
Request for Comment
Comments are again 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 February 10,
2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021–03110 Filed 2–16–21; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
[OMB No. 3064–0022; –0027; –0103; –0114;
–0115; –0163; –0208]
Agency Information Collection
Activities: Proposed Collection
Renewal; Comment Request
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice and request for comment.
AGENCY:
The FDIC, as part of its
obligations under the Paperwork
Reduction Act of 1995 (PRA), invites the
general public and other Federal
agencies to take this opportunity to
comment on the renewal of the existing
information collections described below
(OMB Control No. 3064–0022; –0027;
–0103; –0114; –0115; –0163).
DATES: Comments must be submitted on
or before April 19, 2021.
ADDRESSES: Interested parties are
invited to submit written comments to
the FDIC by any of the following
methods:
• Agency Website: 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,
SUMMARY:
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:
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: Uniform Application/
Uniform Termination for Municipal
Securities Principal or Representative.
OMB Number: 3064–0022.
Form Number: 6200/54; 6200/55.
Affected Public: Individuals and
Insured state nonmember banks and
state savings associations.
Burden Estimate:
jbell on DSKJLSW7X2PROD with NOTICES
SUMMARY OF ANNUAL BURDEN
Estimated
time per
response
(minutes)
Estimated
annual
burden
(hours)
Information collection description
Type of burden
Obligation
to respond
Estimated
number of
respondents
Estimated
frequency
of responses
Uniform Application for Municipal Securities
Principal or Representative (MSD 4).
Uniform Termination Notice for Securities
Principal or Representative (MSD 5).
Reporting ...................
Mandatory
2
On Occasion
60
2
Reporting ...................
Mandatory
2
On Occasion
15
0.5
Total Estimated Annual Burden: 2.5
hours.
General Description of Collection: The
1975 Amendments to the Securities
Exchange Act of 1934 established a
comprehensive framework for the
regulation of the activities of municipal
securities dealers. Under Section 15B(a)
of the Securities Exchange Act,
municipal securities dealers which are
banks, or separately identifiable
departments or divisions of banks
engaging in municipal securities
activities, are required to be registered
with the Securities and Exchange
Commission in accordance with such
rules as the Municipal Securities
1 85
Rulemaking Board (MSRB), a
rulemaking authority established by the
1975 Amendments, may prescribe as
necessary or appropriate in the public
interest or for the protection of
investors. One of the areas in which the
Act directed the MSRB to promulgate
rules is the qualifications of persons
associated with municipal securities
dealers as municipal securities
principals and municipal securities
representatives. The MSRB Rules
require persons who are or seek to be
associated with municipal securities
dealers as municipal securities
principals or municipal securities
representatives to provide certain
background information and conversely,
require the municipal securities dealers
to obtain the information from such
persons. Generally, the information
required to be furnished relates to
employment history and professional
background including any disciplinary
sanctions and any claimed bases for
exemption from MSRB examination
requirements. The FDIC and the other
two Federal bank regulatory agencies,
the Comptroller of the Currency, and the
Federal Reserve Board, have prescribed
Forms MSD–4 to satisfy these
requirements and have prescribed Form
MSD–5 for notification by a bank
municipal securities dealer that a
FR 77462 (December 2, 2020).
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Federal Register / Vol. 86, No. 30 / Wednesday, February 17, 2021 / Notices
municipal securities principal’s or a
municipal securities representative’s
association with the dealer has
terminated and the reason for such
termination. State nonmember banks
and state savings associations that are
municipal security dealers submit these
forms, as applicable, to the FDIC as their
appropriate regulatory agency for each
person associated with the dealer as a
municipal securities principal or
municipal securities representative.
There is no change in the methodology
or substance of this information
collection.
2. Title: Request for Deregistration for
Registered Transfer Agents.
OMB Number: 3064–0027.
Form Number: 6342/12.
Affected Public: Insured state
nonmember banks and state savings
associations.
Burden Estimate:
SUMMARY OF ANNUAL BURDEN
Information collection description
Type of burden
Obligation
to respond
Estimated
number of
respondents
Estimated
frequency
of responses
Estimated
time per
response
(hours)
Estimated
annual
burden
(hours)
Request for Deregistration for Registered
Transfer Agents.
Reporting ...................
Mandatory
1
On Occasion
0.42
0.42
Total Estimated Annual Burden: 0.42
hours.
General Description of Collection:
Under the Securities Exchange Act of
1934 (15 U.S.C. 78q–1), an insured
nonmember bank (or a subsidiary of
such a bank) that functions as a transfer
agent may withdraw from registration as
a transfer agent by filing a written notice
of withdrawal with the FDIC. The FDIC
requires such banks to file FDIC Form
6342/12 as the written notice of
withdrawal. There is no change in the
methodology or substance of this
information collection.
3. Title: Recordkeeping Requirements
Associated with Real Estate Appraisals
and Evaluations.
OMB Number: 3064–0103.
Form Number: None.
Affected Public: Insured State
Nonmember Banks and State Savings
Associations.
Burden Estimate:
SUMMARY OF ANNUAL BURDEN
Information collection description
Type of burden
Obligation
to respond
Estimated
number of
respondents
Estimated
frequency
of responses
Estimated
time per
response
(minutes)
Estimated
annual
burden
(hours)
Recordkeeping Requirements Associated with
Real Estate Appraisals and Evaluations.
Recordkeeping ...........
Mandatory
3,245
On Occasion
5
80
Total Estimated Annual Burden: 80
hours.
General Description of Collection:
FIRREA directs the FDIC to prescribe
appropriate performance standards for
real estate appraisals connected with
federally related transactions under its
jurisdiction. This information collection
is a direct consequence of the statutory
requirement. It is designed to provide
protection for federal financial and
public policy interests by requiring real
estate appraisals used in connection
with federally related transactions to be
performed in writing, in accordance
with uniform standards, by an appraiser
whose competency has been
demonstrated and whose professional
conduct will be subject to effective
supervision. The overall reduction in
burden hours is a result of economic
fluctuation. In particular, the number of
respondents has decreased, the
reporting frequency has increased while
the estimated time per response remains
the same.
4. Title: Foreign Banks.
OMB Number: 3064–0114.
Form Number: None.
Affected Public: Insured branches of
foreign banks.
Burden Estimate:
jbell on DSKJLSW7X2PROD with NOTICES
SUMMARY OF ANNUAL BURDEN
Information collection description
Type of burden
Obligation
to respond
Estimated
number of
respondents
Estimated
frequency
of responses
Estimated
time per
response
Moving a Branch ..............................................
Consent to Operate ..........................................
Approval to Conduct Activities .........................
Pledge of Assets Documents ...........................
Pledge of Asset Reports ..................................
Recordkeeping .................................................
Reporting ....................
Reporting ....................
Reporting ....................
Reporting ....................
Reporting ....................
Recordkeeping ............
Mandatory
Mandatory
Mandatory
Mandatory
Mandatory
Mandatory
1
1
1
10
10
10
On Occasion
On Occasion
On Occasion
Quarterly .....
Quarterly .....
On Occasion
8 hours .....
8 hours .....
8 hours .....
15 minutes
2 hours .....
120 hours
Total Estimated Annual Burden:
1,314 hours.
General Description of Collection:
Applications to move an insured statelicensed branch of a foreign bank;
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Estimated
annual
burden
(hours)
8
8
8
10
80
1,200
applications to operate as such
noninsured state-licensed branch of a
foreign bank; applications from an
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Federal Register / Vol. 86, No. 30 / Wednesday, February 17, 2021 / Notices
insured state-licensed branch of a
foreign bank to conduct activities that
are not permissible for a federally
licensed branch; internal recordkeeping
by such branches; and reporting and
recordkeeping requirements relating to
such a branch’s pledge of assets to the
FDIC. There is no change in the
methodology or substance of this
information collection.
5. Title: Prompt Corrective Action.
OMB Number: 3064–0115.
Form Number: None.
Affected Public: Insured state
nonmember banks and state savings
associations.
Burden Estimate:
SUMMARY OF ANNUAL BURDEN
Information collection description
Type of burden
Obligation
to respond
Estimated
number of
respondents
Estimated
frequency
of responses
Estimated
time per
response
(hours)
Estimated
annual
burden
(hours)
Prompt Corrective Action ................................
Reporting ...................
Voluntary ..
17
On Occasion
4
68
Total Estimated Annual Burden: 68
hours.
General Description of Collection: The
Prompt Corrective Action (PCA)
provisions of section 38 of the Federal
Deposit Insurance Act require or permit
the FDIC and other federal banking
agencies to take certain supervisory
actions when FDIC-insured institutions
fall within certain capital categories.
They also restrict or prohibit certain
activities and require the submission of
a capital restoration plan when an
insured institution becomes
undercapitalized. Various provisions of
the statute and the FDIC’s implementing
regulations require the prior approval of
the FDIC before an FDIC-supervised
institution, or certain insured
depository institutions, can engage in
certain activities, or allow the FDIC to
make exceptions to restrictions that
would otherwise be imposed. This
collection of information consists of the
applications that are required to obtain
the FDIC’s prior approval to engage in
these activities. There is no change in
the method or substance of the
collection.
6. Title: Qualified Financial Contracts.
OMB Number: 3064–0163.
Form Number: None.
Affected Public: State non-member
banks and savings associations.
Burden Estimate:
SUMMARY OF ANNUAL BURDEN
Information collection description
Type of burden
Obligation
to respond
Estimated
number of
respondents
Estimated
frequency
of responses
Reporting Requirements .................................
Recordkeeping Requirements .........................
Application for Extension of Time ...................
Full Scope Entities ..........................................
Limited Scope Entities .....................................
Reporting ...................
Recordkeeping ...........
Reporting ...................
Recordkeeping ...........
Recordkeeping ...........
Mandatory
Mandatory
Mandatory
Mandatory
Mandatory
190
190
20
2
110
Monthly ........
Quarterly ......
On occasion
On occasion
On occasion
Total Estimated Annual Burden:
18,720 hours.
General Description of Collection:
This collection consists of
recordkeeping requirements for
qualified financial contracts (QFCs) held
by insured depository institutions in
troubled condition. There is no change
in the methodology or substance of this
information collection.
7. Title: Restrictions on Qualified
Financial Contracts of Subsidiaries of
certain FDIC-Supervised Institutions;
Revisions to the Definition of Qualifying
Estimated
time per
response
(hours)
2
10
0.5
3,000
5
Estimated
annual
burden
(hours)
4,560
7,600
10
6,000
550
Master Netting Agreement and Related
Definitions.
OMB Number: 3064–0208.
Form Number: None.
Affected Public: Private sector.
Burden Estimate:
jbell on DSKJLSW7X2PROD with NOTICES
SUMMARY OF ANNUAL BURDEN
Information collection description
Type of burden
Obligation
to respond
Estimated
number of
respondents
Estimated
frequency
of responses
Estimated
time per
response
(hours)
Estimated
annual
burden
(hours)
Process for Approval of Enhanced Creditor
Protections.
Reporting ....................
Mandatory
6
On occasion
40
240
Total Estimated Annual Burden: 240
hours.
General Description of Collection:
This rule is necessary to give effect to
such cross-default restrictions in the
ISDA Protocol. The rule requires that
FDIC-supervised institutions that are
subsidiaries of GSIBs and their
counterparties either adhere to the ISDA
Protocol or take the prescribed steps to
amend the contractual provisions of
their QFCs, consistent with the
requirements in the rule, within a
specified period of time. If such
institutions elect to amend their QFCs
in lieu of adhering to the ISDA Protocol,
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they must seek the FDIC’s approval of
the proposed amendments, giving rise to
the information collection. The
information collection is necessary to
ensure QFC contracts are amended in
compliance with the rule. The FDIC’s
rule applies to FDIC-supervised
institutions that are subsidiaries of
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Federal Register / Vol. 86, No. 30 / Wednesday, February 17, 2021 / Notices
GSIBs and sets forth requirements
parallel to those contained in similar
rules recently published by the FRB and
the OCC with regard to entities they
supervise to ensure consistent
regulatory treatment of QFCs among the
various entities within a GSIB group.
There is no change in the methodology
or substance of this information
collection.
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 February 11,
2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021–03171 Filed 2–16–21; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL FINANCIAL INSTITUTIONS
EXAMINATION COUNCIL
[Docket No. AS21–01]
Standardized Instructions and Format
To Be Used for Interim and Final
Progress Reporting
Appraisal Subcommittee of the
Federal Financial Institutions
Examination Council
ACTION: The Appraisal Subcommittee
(ASC) is issuing this Notice of Request
for public comment on the standardized
Appraisal Subcommittee Progress
Report (ASC–PR) format to be used for
both interim and final progress
reporting for all ASC grants and
submission to Office of Management
and Budget (OMB) of proposed
collection of information.
jbell on DSKJLSW7X2PROD with NOTICES
AGENCY:
Written comments must be
received on or before March 19, 2021 to
be assured of consideration.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent to
www.reginfo.gov/public/do/PRAMain.
DATES:
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Find this particular information
collection by selecting ‘‘Currently under
30-day Review—Open for Public
Comments’’ or by using the search
function.
For
information on the ASC–PR, contact
Maria Brown, Regulatory Affairs
Specialist, ASC at 202–792–1197 or
Maria@asc.gov.
SUMMARY: This proposed information
collection was previously published in
the Federal Register on November 20,
2020 and allowed 60 days for public
comment. No comments were received
to that Notice. In conjunction with the
Paperwork Reduction Act of 1995, the
ASC has submitted to the OMB a
request for review and approval of
information collection listed below. The
purpose of this notice is to allow an
additional 30 days for public comment
from all interested individuals and
organizations.
By the Appraisal Subcommittee.
James R. Park,
Executive Director.
[FR Doc. 2021–03126 Filed 2–16–21; 8:45 am]
BILLING CODE 6700–01–P
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION:
Title: ASC Progress Report
Standardized Instructions and Format
for Interim and Final Progress
Reporting.
The ASC has established new grantmaking programs and is responsible for
monitoring its grantees on the use of
federal funds. The ASC developed this
progress report for both interim and
final progress reports for grants issued
under ASC authority. The progress
report will be submitted to the ASC
semi-annually as an attachment to the
Standard Form 425, Federal Financial
Report. A draft version of the
instructions and format for the report is
posted on the ASC website at https://
www.asc.gov/Documents/
GrantsFundingCorrespondence/PRFFR%20Reporting%20Instructions%20
and%20Form.pdf. The report will
benefit award recipients by making it
easier for them to administer federal
grant and cooperative agreement
programs through standardization of the
types of information required in
progress reports, thereby reducing their
administrative effort and costs.
OMB Number: New Collection.
Burden Estimates:
Type of Review: Regular.
Affected Public: All ASC grantees.
Estimated Number of Respondents:
55.
Estimated burden per Response: 1
hour.
Frequency of Response: Twice per
year (semi-annual and annual report).
Estimated Total Annual Burden: 110
hours.
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FEDERAL RESERVE SYSTEM
Proposed Agency Information
Collection Activities; Comment
Request
Board of Governors of the
Federal Reserve System.
ACTION: Notice, request for comment.
AGENCY:
The Board of Governors of the
Federal Reserve System (Board) invites
comment on a proposal to extend for
three years, without revision, the
Recordkeeping Requirements
Associated with Changes in Foreign
Investments (Made Pursuant to
Regulation K) (FR 2064; OMB No. 7100–
0109).
DATES: Comments must be submitted on
or before April 19, 2021.
ADDRESSES: You may submit comments,
identified by FR 2064, by any of the
following methods:
• Agency website: https://
www.federalreserve.gov/. Follow the
instructions for submitting comments at
https://www.federalreserve.gov/apps/
foia/proposedregs.aspx.
• Email: regs.comments@
federalreserve.gov. Include the OMB
number in the subject line of the
message.
• Fax: (202) 452–3819 or (202) 452–
3102.
• Mail: Ann E. Misback, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW, Washington,
DC 20551.
All public comments are available
from the Board’s website at https://
www.federalreserve.gov/apps/foia/
proposedregs.aspx as submitted, unless
modified for technical reasons or to
remove personally identifiable
information at the commenter’s request.
Accordingly, comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper in Room 146, 1709 New York
Avenue NW, Washington, DC 20006,
between 9:00 a.m. and 5:00 p.m. on
weekdays. For security reasons, the
Board requires that visitors make an
appointment to inspect comments. You
may do so by calling (202) 452–3684.
Upon arrival, visitors will be required to
present valid government-issued photo
identification and to submit to security
SUMMARY:
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]]>Agencies
[Federal Register Volume 86, Number 30 (Wednesday, February 17, 2021)]
[Notices]
[Pages 9935-9938]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-03171]
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0022; -0027; -0103; -0114; -0115; -0163; -0208]
Agency Information Collection Activities: Proposed Collection
Renewal; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The FDIC, as part of its obligations under the Paperwork
Reduction Act of 1995 (PRA), invites the general public and other
Federal agencies to take this opportunity to comment on the renewal of
the existing information collections described below (OMB Control No.
3064-0022; -0027; -0103; -0114; -0115; -0163).
DATES: Comments must be submitted on or before April 19, 2021.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC by any of the following methods:
Agency Website: 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.
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: 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: Uniform Application/Uniform Termination for Municipal
Securities Principal or Representative.
OMB Number: 3064-0022.
Form Number: 6200/54; 6200/55.
Affected Public: Individuals and Insured state nonmember banks and
state savings associations.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated
Estimated Estimated frequency of time per annual
Information collection description Type of burden Obligation to respond number of responses response burden
respondents (minutes) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Uniform Application for Municipal Reporting............... Mandatory.............. 2 On Occasion............ 60 2
Securities Principal or
Representative (MSD 4).
Uniform Termination Notice for Reporting............... Mandatory.............. 2 On Occasion............ 15 0.5
Securities Principal or
Representative (MSD 5).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total Estimated Annual Burden: 2.5 hours.
General Description of Collection: The 1975 Amendments to the
Securities Exchange Act of 1934 established a comprehensive framework
for the regulation of the activities of municipal securities dealers.
Under Section 15B(a) of the Securities Exchange Act, municipal
securities dealers which are banks, or separately identifiable
departments or divisions of banks engaging in municipal securities
activities, are required to be registered with the Securities and
Exchange Commission in accordance with such rules as the Municipal
Securities Rulemaking Board (MSRB), a rulemaking authority established
by the 1975 Amendments, may prescribe as necessary or appropriate in
the public interest or for the protection of investors. One of the
areas in which the Act directed the MSRB to promulgate rules is the
qualifications of persons associated with municipal securities dealers
as municipal securities principals and municipal securities
representatives. The MSRB Rules require persons who are or seek to be
associated with municipal securities dealers as municipal securities
principals or municipal securities representatives to provide certain
background information and conversely, require the municipal securities
dealers to obtain the information from such persons. Generally, the
information required to be furnished relates to employment history and
professional background including any disciplinary sanctions and any
claimed bases for exemption from MSRB examination requirements. The
FDIC and the other two Federal bank regulatory agencies, the
Comptroller of the Currency, and the Federal Reserve Board, have
prescribed Forms MSD-4 to satisfy these requirements and have
prescribed Form MSD-5 for notification by a bank municipal securities
dealer that a
[[Page 9936]]
municipal securities principal's or a municipal securities
representative's association with the dealer has terminated and the
reason for such termination. State nonmember banks and state savings
associations that are municipal security dealers submit these forms, as
applicable, to the FDIC as their appropriate regulatory agency for each
person associated with the dealer as a municipal securities principal
or municipal securities representative. There is no change in the
methodology or substance of this information collection.
2. Title: Request for Deregistration for Registered Transfer
Agents.
OMB Number: 3064-0027.
Form Number: 6342/12.
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated
Estimated Estimated frequency of time per annual
Information collection description Type of burden Obligation to respond number of responses response burden
respondents (hours) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Request for Deregistration for Reporting.............. Mandatory.............. 1 On Occasion............ 0.42 0.42
Registered Transfer Agents.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total Estimated Annual Burden: 0.42 hours.
General Description of Collection: Under the Securities Exchange
Act of 1934 (15 U.S.C. 78q-1), an insured nonmember bank (or a
subsidiary of such a bank) that functions as a transfer agent may
withdraw from registration as a transfer agent by filing a written
notice of withdrawal with the FDIC. The FDIC requires such banks to
file FDIC Form 6342/12 as the written notice of withdrawal. There is no
change in the methodology or substance of this information collection.
3. Title: Recordkeeping Requirements Associated with Real Estate
Appraisals and Evaluations.
OMB Number: 3064-0103.
Form Number: None.
Affected Public: Insured State Nonmember Banks and State Savings
Associations.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated
Estimated Estimated frequency of time per annual
Information collection description Type of burden Obligation to respond number of responses response burden
respondents (minutes) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Recordkeeping Requirements Recordkeeping.......... Mandatory.............. 3,245 On Occasion............ 5 80
Associated with Real Estate
Appraisals and Evaluations.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total Estimated Annual Burden: 80 hours.
General Description of Collection: FIRREA directs the FDIC to
prescribe appropriate performance standards for real estate appraisals
connected with federally related transactions under its jurisdiction.
This information collection is a direct consequence of the statutory
requirement. It is designed to provide protection for federal financial
and public policy interests by requiring real estate appraisals used in
connection with federally related transactions to be performed in
writing, in accordance with uniform standards, by an appraiser whose
competency has been demonstrated and whose professional conduct will be
subject to effective supervision. The overall reduction in burden hours
is a result of economic fluctuation. In particular, the number of
respondents has decreased, the reporting frequency has increased while
the estimated time per response remains the same.
4. Title: Foreign Banks.
OMB Number: 3064-0114.
Form Number: None.
Affected Public: Insured branches of foreign banks.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated
Estimated Estimated frequency Estimated time per annual
Information collection description Type of burden Obligation to respond number of of responses response burden
respondents (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Moving a Branch................... Reporting............ Mandatory............ 1 On Occasion.......... 8 hours.............. 8
Consent to Operate................ Reporting............ Mandatory............ 1 On Occasion.......... 8 hours.............. 8
Approval to Conduct Activities.... Reporting............ Mandatory............ 1 On Occasion.......... 8 hours.............. 8
Pledge of Assets Documents........ Reporting............ Mandatory............ 10 Quarterly............ 15 minutes........... 10
Pledge of Asset Reports........... Reporting............ Mandatory............ 10 Quarterly............ 2 hours.............. 80
Recordkeeping..................... Recordkeeping........ Mandatory............ 10 On Occasion.......... 120 hours............ 1,200
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Total Estimated Annual Burden: 1,314 hours.
General Description of Collection: Applications to move an insured
state-licensed branch of a foreign bank; applications to operate as
such noninsured state-licensed branch of a foreign bank; applications
from an
[[Page 9937]]
insured state-licensed branch of a foreign bank to conduct activities
that are not permissible for a federally licensed branch; internal
recordkeeping by such branches; and reporting and recordkeeping
requirements relating to such a branch's pledge of assets to the FDIC.
There is no change in the methodology or substance of this information
collection.
5. Title: Prompt Corrective Action.
OMB Number: 3064-0115.
Form Number: None.
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated
Estimated Estimated frequency of time per annual
Information collection description Type of burden Obligation to respond number of responses response burden
respondents (hours) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Prompt Corrective Action............ Reporting.............. Voluntary.............. 17 On Occasion............ 4 68
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total Estimated Annual Burden: 68 hours.
General Description of Collection: The Prompt Corrective Action
(PCA) provisions of section 38 of the Federal Deposit Insurance Act
require or permit the FDIC and other federal banking agencies to take
certain supervisory actions when FDIC-insured institutions fall within
certain capital categories. They also restrict or prohibit certain
activities and require the submission of a capital restoration plan
when an insured institution becomes undercapitalized. Various
provisions of the statute and the FDIC's implementing regulations
require the prior approval of the FDIC before an FDIC-supervised
institution, or certain insured depository institutions, can engage in
certain activities, or allow the FDIC to make exceptions to
restrictions that would otherwise be imposed. This collection of
information consists of the applications that are required to obtain
the FDIC's prior approval to engage in these activities. There is no
change in the method or substance of the collection.
6. Title: Qualified Financial Contracts.
OMB Number: 3064-0163.
Form Number: None.
Affected Public: State non-member banks and savings associations.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated
Estimated Estimated frequency of time per annual
Information collection description Type of burden Obligation to respond number of responses response burden
respondents (hours) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Reporting Requirements............... Reporting............... Mandatory.............. 190 Monthly................ 2 4,560
Recordkeeping Requirements........... Recordkeeping........... Mandatory.............. 190 Quarterly.............. 10 7,600
Application for Extension of Time.... Reporting............... Mandatory.............. 20 On occasion............ 0.5 10
Full Scope Entities.................. Recordkeeping........... Mandatory.............. 2 On occasion............ 3,000 6,000
Limited Scope Entities............... Recordkeeping........... Mandatory.............. 110 On occasion............ 5 550
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total Estimated Annual Burden: 18,720 hours.
General Description of Collection: This collection consists of
recordkeeping requirements for qualified financial contracts (QFCs)
held by insured depository institutions in troubled condition. There is
no change in the methodology or substance of this information
collection.
7. Title: Restrictions on Qualified Financial Contracts of
Subsidiaries of certain FDIC-Supervised Institutions; Revisions to the
Definition of Qualifying Master Netting Agreement and Related
Definitions.
OMB Number: 3064-0208.
Form Number: None.
Affected Public: Private sector.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated
Estimated Estimated frequency of time per annual
Information collection description Type of burden Obligation to respond number of responses response burden
respondents (hours) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Process for Approval of Enhanced Reporting.............. Mandatory.............. 6 On occasion............ 40 240
Creditor Protections.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total Estimated Annual Burden: 240 hours.
General Description of Collection: This rule is necessary to give
effect to such cross-default restrictions in the ISDA Protocol. The
rule requires that FDIC-supervised institutions that are subsidiaries
of GSIBs and their counterparties either adhere to the ISDA Protocol or
take the prescribed steps to amend the contractual provisions of their
QFCs, consistent with the requirements in the rule, within a specified
period of time. If such institutions elect to amend their QFCs in lieu
of adhering to the ISDA Protocol, they must seek the FDIC's approval of
the proposed amendments, giving rise to the information collection. The
information collection is necessary to ensure QFC contracts are amended
in compliance with the rule. The FDIC's rule applies to FDIC-supervised
institutions that are subsidiaries of
[[Page 9938]]
GSIBs and sets forth requirements parallel to those contained in
similar rules recently published by the FRB and the OCC with regard to
entities they supervise to ensure consistent regulatory treatment of
QFCs among the various entities within a GSIB group. There is no change
in the methodology or substance of this information collection.
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 February 11, 2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-03171 Filed 2-16-21; 8:45 am]
BILLING CODE 6714-01-P
