Agency Information Collection Activities: Proposed Collection Renewal; Comment Request, 53300-53301 [2021-20808]
Download as PDF
<![CDATA[
53300
Federal Register / Vol. 86, No. 184 / Monday, September 27, 2021 / Notices
exchange carriers’ (‘‘ILECs’’) duty to
make network information disclosures;
and (3) numbering administration. In
November 2017, the Commission
adopted new rules concerning certain
information collection requirements
implemented under section 251(c)(5) of
the Act, pertaining to network change
disclosures. Most of the changes to
those rules applied specifically to a
certain subset of network change
disclosures, namely notices of planned
copper retirements. In addition, the
changes removed a rule that prohibits
incumbent LECs from engaging in useful
advanced coordination with entities
affected by network changes. In June
2018, the Commission revised its
network change disclosure rules to (1)
revise the types of network changes that
trigger an incumbent LEC’s public
notice obligation, and (2) extend the
force majeure provisions applicable to
copper retirements to all types of
network changes. The changes were
aimed at removing unnecessary
regulatory barriers to the deployment of
high-speed broadband networks.
OMB Control Number: 3060–0806.
Title: Universal Service-Schools and
Libraries Universal Service Program,
FCC Forms 470 and 471.
Form Number: FCC Forms 470 and
471.
Type of Review: Extension of a
currently approved collection.
Respondents: State, local or tribal
government institutions, and other notfor-profit institutions.
Number of Respondents and
Responses: 43,000 respondents; 67,100
responses.
Estimated Time per Response: 3.5
hours for FCC Form 470 (3 hours for
response; 0.5 hours for recordkeeping;
4.5 hours for FCC Form 471 (4 hours for
response; 0.5 hours for recordkeeping).
Frequency of Response: On occasion
and annual reporting requirements, and
recordkeeping requirement.
Obligation to Respond: Required to
obtain or retain benefits. Statutory
authority for this information collection
is contained in sections 1, 4(i), 4(j), 201–
205, 214, 254, and 403 of the
Communications Act of 1934, as
amended, 47 U.S.C. 151–154, 201–205,
218–220, 254, 303(r), 403 and 405.
Total Annual Burden: 273,950 hours.
Total Annual Cost: No Cost.
Needs and Uses: The Commission
seeks approval to extend the existing
collection 3060–0806 (FCC Forms 470
and 471). Collection of the information
on FCC Forms 470 and 471 is necessary
so that the Commission and USAC have
sufficient information to determine if
entities are eligible for funding pursuant
to the schools and libraries support
mechanism, to determine if entities are
complying with the Commission’s rules,
and to prevent waste, fraud, and abuse.
In addition, the information is necessary
for the Commission to evaluate the
extent to which the E-rate program is
meeting the statutory objectives
specified in section 254(h) of the 1996
Act, and the Commission’s performance
goals established in the E-rate
Modernization Order and Second E-rate
Modernization Order.
Federal Communications Commission.
Marlene Dortch,
Secretary, Office of the Secretary.
[FR Doc. 2021–20927 Filed 9–24–21; 8:45 am]
BILLING CODE 6712–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
[OMB No. 3064–0028]
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
SUMMARY:
comment on the renewal of the existing
information collection described below
(OMB Control No. 3064–0028).
DATES: Comments must be submitted on
or before November 26, 2021.
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.
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 collection of
information:
1. Title: Recordkeeping and
Confirmation Requirements for
Securities Transactions.
OMB Number: 3064–0028.
Form Number: None.
Affected Public: FDIC-Insured
Institutions and Certain Employees of
the FDIC-Insured Institutions.
Burden Estimate:
lotter on DSK11XQN23PROD with NOTICES1
SUMMARY OF ANNUAL BURDEN
Estimated
number of
respondents
Information collection description
Type of burden
Obligation to
respond
Maintain Securities Trading Policies and Procedures ....
Officer/Employee Filing of Reports of Personal Securities Trading Transactions—344.9 (assumes 5 officers/employees at each institution with income from
securities broker activity).
Recordkeeping
Third-Party Disclosure.
Mandatory ............
Mandatory ............
Total Estimated Annual Burden:
8,983 hours.
VerDate Sep<11>2014
18:08 Sep 24, 2021
Jkt 253001
691
2,073
General Description of Collection: The
collection of information requirements
are contained in 12 CFR part 344. The
PO 00000
Frm 00039
Fmt 4703
Sfmt 4703
Estimated
time per
response
(hours)
Estimated
frequency of
responses
1
4
Estimated
annual
burden
(hours)
1
1
691
8,292
purpose of the regulation is to ensure
that purchasers of securities in
transactions affected by insured state
E:\FR\FM\27SEN1.SGM
27SEN1
lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 86, No. 184 / Monday, September 27, 2021 / Notices
nonmember banks are provided with
adequate records concerning the
transactions. The regulation is also
designed to ensure that insured state
nonmember banks maintain adequate
records and controls with respect to the
securities transactions they effect.
Finally, this regulation requires officers
and employees of FDIC-supervised
institutions to report to the FDIC
supervised institution certain personal
securities trading activity.
Sections 344.4, 344.5, and 344.6 refer
to reporting and third party disclosure
burdens associated with confirmation of
securities transactions. The FDIC
assumes that banks automate
notifications to customers of securities
transactions, and would automate these
notifications even if 12 CFR 344 were
not in place. The automation includes
the recordkeeping and disclosure of the
confirmation of securities transactions.
As such, FDIC believes that the
activities associated with sections 344.4,
344.5, and 344.6 are all done in the
ordinary course business, and do not
represent PRA burden.
Potential respondents to this IC are all
FDIC-supervised institutions that effect
securities transactions for customers.
Respondents include institutions that
conduct securities transactions
themselves or that conduct securities
transactions through a broker/dealer. To
estimate the annual number of
respondents, FDIC referenced the
number of FDIC-supervised institutions
that reported exercising fiduciary
powers as of the first quarter of 2021,1
which is reported on item 2 of Call
Report Schedule RC–T.
As of March 31, 2021, 691 FDICsupervised institutions reported
exercising fiduciary powers.2 These 691
entities are subject to the PRA
requirements in 12 CFR 344.8. Thus,
FDIC estimates 691 respondents to the
line items corresponding to this section.
In the previous renewal of this
information collection, the FDIC
estimated 680 respondents to this IC;
this estimate was derived by counting
the number of FDIC-supervised
institutions with income from securities
brokerage activity. The increase in the
estimated number of respondents from
680 to 691 is a result of a change in
estimation methodology due to a change
in the call report reporting
requirements.3
The line item corresponding to 12
CFR 344.9 applies to officers and
employees of FDIC-supervised
institutions who ‘‘make investment
recommendations or decisions for the
1 RIS
variable TREXER.
Call Report data, March 2021.
2 FDIC
VerDate Sep<11>2014
18:08 Sep 24, 2021
Jkt 253001
accounts of customers; participate in the
determination of such recommendations
or decisions; or in connection with their
duties, obtain information concerning
which securities are being purchased or
sold or recommend such action.’’ 5
Excluded from this requirement are
‘‘transactions for the benefit of the
officer or employee over which the
officer or employee has no direct or
indirect influence or control;
transactions in registered investment
company shares; transactions in
government securities; and all
transactions involving in the aggregate
$10,000 or less during the calendar
quarter.’’ 6 The FDIC does not currently
have access to data on how many
officers or employees are required to
report trading activities in which they
have a beneficial interest in accordance
with Section 344.9. In the estimate for
the previous ICR, it was assumed that
five officers or employees per FDICsupervised institution affected by this IC
who would respond to this line item.
Based on supervisory experience, FDIC
believes that most of the smaller FDICsupervised institutions do not have any
personnel subject to Section 344.9.7
Accordingly, FDIC has reduced the
assumed number of officers or
employees per FDIC-supervised
institution who would respond to this
line item from five to three. FDIC
therefore estimates 2,073 respondents
per year to this line item.8 This estimate
constitutes a decrease of 1,327 in the
estimated annual number of
respondents to this IC.
Section 344.8 requires FDICsupervised institutions to establish
processes and procedures for assigning
responsibility for supervising employees
and officers who are involved with
processing, documenting, and executing
securities transactions for customers,
and for ensuring equitable treatment of
parties to a security transaction, and of
customers who submit orders for the
same security or securities at
approximately the same time. Policies
and procedures are generally reviewed
and updated annually. FDIC therefore
estimate one response per respondent to
this line item as FDIC believes that
institutions are more likely to update
their policies and procedures annually
rather than monthly. This estimate
represents a decrease of 11 responses
per respondent.
FDIC has also revised its estimate of
the time required to respond to the
requirements of Section 344.8 to one
hour per response. This estimate
represents an increase of 0.75 hours per
5 12
6
PO 00000
CFR 344.9(a).
12 CFR 344.9(b)
Frm 00040
Fmt 4703
Sfmt 4703
53301
response from the estimate included in
the 2018 renewal and is based on the
FDIC’s experience with this information
collection.
FDIC estimates one hour per response
for the burden related to Section 344.9.
This estimate represents a decrease of
0.5 hours per response from the estimate
included in the 2018 renewal and is also
based on the FDIC’s experience with
this information collection.
The total estimated annual burden for
this information collection is 8,983
hours, which is a decrease of 56,297
hours from the estimate included in the
previous renewal.
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.
Dated at Washington, DC, on September
19, 2021.
Federal Deposit Insurance Corporation.
James P. Sheesley,
Assistant Executive Secretary.
FR Doc. 2021–20808 Filed 9–24–21; 8:45 am
BILLING CODE 6714–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
The notificants listed below have
applied under the Change in Bank
Control Act (Act) (12 U.S.C. 1817(j)) and
§ 225.41 of the Board’s Regulation Y (12
CFR 225.41) to acquire shares of a bank
or bank holding company. The factors
that are considered in acting on the
applications are set forth in paragraph 7
of the Act (12 U.S.C. 1817(j)(7)).
The public portions of the
applications listed below, as well as
other related filings required by the
Board, if any, are available for
immediate inspection at the Federal
Reserve Bank(s) indicated below and at
the offices of the Board of Governors.
This information may also be obtained
E:\FR\FM\27SEN1.SGM
27SEN1
]]>Agencies
[Federal Register Volume 86, Number 184 (Monday, September 27, 2021)]
[Notices]
[Pages 53300-53301]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-20808]
=======================================================================
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0028]
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 collection described below (OMB Control No.
3064-0028).
DATES: Comments must be submitted on or before November 26, 2021.
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.
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 collection of
information:
1. Title: Recordkeeping and Confirmation Requirements for
Securities Transactions.
OMB Number: 3064-0028.
Form Number: None.
Affected Public: FDIC-Insured Institutions and Certain Employees of
the FDIC-Insured Institutions.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated Estimated time Estimated
Information collection description Type of burden Obligation to respond number of frequency of per response annual burden
respondents responses (hours) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Maintain Securities Trading Recordkeeping......... Mandatory.................. 691 1 1 691
Policies and Procedures.
Officer/Employee Filing of Reports Third-Party Disclosure Mandatory.................. 2,073 4 1 8,292
of Personal Securities Trading
Transactions--344.9 (assumes 5
officers/employees at each
institution with income from
securities broker activity).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total Estimated Annual Burden: 8,983 hours.
General Description of Collection: The collection of information
requirements are contained in 12 CFR part 344. The purpose of the
regulation is to ensure that purchasers of securities in transactions
affected by insured state
[[Page 53301]]
nonmember banks are provided with adequate records concerning the
transactions. The regulation is also designed to ensure that insured
state nonmember banks maintain adequate records and controls with
respect to the securities transactions they effect. Finally, this
regulation requires officers and employees of FDIC-supervised
institutions to report to the FDIC supervised institution certain
personal securities trading activity.
Sections 344.4, 344.5, and 344.6 refer to reporting and third party
disclosure burdens associated with confirmation of securities
transactions. The FDIC assumes that banks automate notifications to
customers of securities transactions, and would automate these
notifications even if 12 CFR 344 were not in place. The automation
includes the recordkeeping and disclosure of the confirmation of
securities transactions. As such, FDIC believes that the activities
associated with sections 344.4, 344.5, and 344.6 are all done in the
ordinary course business, and do not represent PRA burden.
Potential respondents to this IC are all FDIC-supervised
institutions that effect securities transactions for customers.
Respondents include institutions that conduct securities transactions
themselves or that conduct securities transactions through a broker/
dealer. To estimate the annual number of respondents, FDIC referenced
the number of FDIC-supervised institutions that reported exercising
fiduciary powers as of the first quarter of 2021,\1\ which is reported
on item 2 of Call Report Schedule RC-T.
---------------------------------------------------------------------------
\1\ RIS variable TREXER.
---------------------------------------------------------------------------
As of March 31, 2021, 691 FDIC-supervised institutions reported
exercising fiduciary powers.\2\ These 691 entities are subject to the
PRA requirements in 12 CFR 344.8. Thus, FDIC estimates 691 respondents
to the line items corresponding to this section. In the previous
renewal of this information collection, the FDIC estimated 680
respondents to this IC; this estimate was derived by counting the
number of FDIC-supervised institutions with income from securities
brokerage activity. The increase in the estimated number of respondents
from 680 to 691 is a result of a change in estimation methodology due
to a change in the call report reporting requirements.\3\
---------------------------------------------------------------------------
\2\ FDIC Call Report data, March 2021.
---------------------------------------------------------------------------
The line item corresponding to 12 CFR 344.9 applies to officers and
employees of FDIC-supervised institutions who ``make investment
recommendations or decisions for the accounts of customers; participate
in the determination of such recommendations or decisions; or in
connection with their duties, obtain information concerning which
securities are being purchased or sold or recommend such action.'' \5\
Excluded from this requirement are ``transactions for the benefit of
the officer or employee over which the officer or employee has no
direct or indirect influence or control; transactions in registered
investment company shares; transactions in government securities; and
all transactions involving in the aggregate $10,000 or less during the
calendar quarter.'' \6\ The FDIC does not currently have access to data
on how many officers or employees are required to report trading
activities in which they have a beneficial interest in accordance with
Section 344.9. In the estimate for the previous ICR, it was assumed
that five officers or employees per FDIC-supervised institution
affected by this IC who would respond to this line item. Based on
supervisory experience, FDIC believes that most of the smaller FDIC-
supervised institutions do not have any personnel subject to Section
344.9.\7\ Accordingly, FDIC has reduced the assumed number of officers
or employees per FDIC-supervised institution who would respond to this
line item from five to three. FDIC therefore estimates 2,073
respondents per year to this line item.\8\ This estimate constitutes a
decrease of 1,327 in the estimated annual number of respondents to this
IC.
---------------------------------------------------------------------------
\5\ 12 CFR 344.9(a).
\6\ 12 CFR 344.9(b)
---------------------------------------------------------------------------
Section 344.8 requires FDIC-supervised institutions to establish
processes and procedures for assigning responsibility for supervising
employees and officers who are involved with processing, documenting,
and executing securities transactions for customers, and for ensuring
equitable treatment of parties to a security transaction, and of
customers who submit orders for the same security or securities at
approximately the same time. Policies and procedures are generally
reviewed and updated annually. FDIC therefore estimate one response per
respondent to this line item as FDIC believes that institutions are
more likely to update their policies and procedures annually rather
than monthly. This estimate represents a decrease of 11 responses per
respondent.
FDIC has also revised its estimate of the time required to respond
to the requirements of Section 344.8 to one hour per response. This
estimate represents an increase of 0.75 hours per response from the
estimate included in the 2018 renewal and is based on the FDIC's
experience with this information collection.
FDIC estimates one hour per response for the burden related to
Section 344.9. This estimate represents a decrease of 0.5 hours per
response from the estimate included in the 2018 renewal and is also
based on the FDIC's experience with this information collection.
The total estimated annual burden for this information collection
is 8,983 hours, which is a decrease of 56,297 hours from the estimate
included in the previous renewal.
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.
Dated at Washington, DC, on September 19, 2021.
Federal Deposit Insurance Corporation.
James P. Sheesley,
Assistant Executive Secretary.
FR Doc. 2021-20808 Filed 9-24-21; 8:45 am
BILLING CODE 6714-01-P
