Agency Information Collection Activities: Proposed Collection Renewal; Comment Request, 8860-8862 [2023-02848]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 88, Number 28 (Friday, February 10, 2023)]
[Notices]
[Pages 8860-8862]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-02848]


=======================================================================
-----------------------------------------------------------------------

FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0112; -0125; -0177]


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. 
3064-0112; -0125 and -0177).

DATES: Comments must be submitted on or before April 11, 2023.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     Agency Website: https://www.fdic.gov/resources/regulations/federal-register-publications/.
     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 NW building (located on F Street 
NW), 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: Real Estate Lending Standards.
    OMB Number: 3064-0112.
    Forms: None.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0112]
----------------------------------------------------------------------------------------------------------------
                                 Type of burden                      Number of       Time per
    Information collection        (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
----------------------------------------------------------------------------------------------------------------
1. Real Estate Lending          Recordkeeping              3,086               1           20:00          61,720
 Standards, 12 CFR 365           (Annual).
 (Mandatory).
                                                 ---------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............          61,720
     (Hours):.
----------------------------------------------------------------------------------------------------------------
Source: FDIC.

    General Description of Collection: Section 1828(o) of the Federal 
Deposit Insurance Act requires each federal banking agency to adopt 
uniform regulations prescribing real estate lending standards. Part 365 
of the FDIC Rules and Regulations, which implements section 1828(o), 
requires institutions to have real estate lending policies that include 
(a) limits and standards consistent with safe and sound banking 
practices; (b) prudent underwriting standards, including loan-to-value 
ratio (LTV) limits that are clear and measurable; (c) loan 
administration policies; (d) documentation, approval and reporting 
requirements; and (e) a requirement for annual review and approval by 
the board of directors. The rule also establishes supervisory LTV 
limits and other underwriting considerations in the form of guidelines. 
Since banks generally have written policies on real estate lending, the 
additional burden imposed by this regulation is limited to 
modifications to existing policies necessary to bring those policies 
into compliance with the regulation and the development of a system to 
report loans in excess of the guidelines to the board of directors. 
There is no change in the substance or methodology of this information 
collection. The change in burden is due to a decrease in the number of 
respondents.
    2. Title: Foreign Banking and Investment by Insured State Nonmember 
Banks.
    OMB Number: 3064-0125.
    Forms: None.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

[[Page 8861]]



                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0125]
----------------------------------------------------------------------------------------------------------------
                                 Type of burden                      Number of       Time per
    Information collection        (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
----------------------------------------------------------------------------------------------------------------
1. Notices or applications to   Reporting (On                  1               1           02:00               2
 establish, move, or close a     Occasion).
 foreign branch, 12 CFR
 303.182 (Mandatory).
2. Filings for authorization    Reporting (On                  1               1           40:00              40
 for foreign branch to engage    Occasion).
 in activities other than
 those permitted under 12 CFR
 347.115, 12 CFR 303
 (Mandatory).
3. Filings to invest in         Reporting (On                  2               1           60:00             120
 foreign organizations, or to    Occasion).
 engage in certain activities
 through foreign
 organizations, 12 CFR
 303.183(b) and.
303.121, (Mandatory)..........
4. Merger transactions          Reporting (On                  1               1           06:00               6
 involving foreign               Occasion).
 organizations, 12 CFR
 303.185(b) and 12 CFR 303.62
 (Mandatory).
5. Filings by insured state     Reporting (On                  1               1           02:00               2
 nonmember banks to invest in,   Occasion).
 or divest its interest in, a
 foreign organization, 12 CFR
 303.183 (Mandatory).
6. Notice of foreign            Reporting (On                  1               1           01:00               1
 divestiture of foreign          Occasion).
 organization, 12 CFR
 303.183(d) (Mandatory).
7. Document policies and        Recordkeeping                  6               1          400:00           2,400
 procedures for supervision of   (Annual).
 foreign activities, 12 CFR
 347.116 (Mandatory).
                                                 ---------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............           2,571
     (Hours):.
----------------------------------------------------------------------------------------------------------------
Source: FDIC.

    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 to a decline 
in the number of FDIC-supervised institutions that operate foreign 
branches and one fewer estimated respondent to IC 6.
    3. Title: Treatment by the FDIC as Conservator or Receiver of 
Financial Assets Transferred by an Insured Depository Institution in 
Connection With a Securitization or Participation after September 30, 
2010.
    OMB Number: 3064-0177.
    Forms: None.
    Affected Public: Insured Depository Institutions.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0177]
----------------------------------------------------------------------------------------------------------------
                                 Type of burden                      Number of       Time per
    Information collection        (frequency of      Number of     responses per     response      Annual burden
    (obligation to respond)         response)       respondents     respondent        (HH:MM)         (hours)
----------------------------------------------------------------------------------------------------------------
1. Credit performance and       Disclosure                    28         125.857           02:00           7,048
 changes to compensation         (Monthly).
 arrangements, 12 CFR
 360.6(b)(2)(i)(C) & (D)
 (Mandatory).
2. Securitization structure     Disclosure (On                28          10.488           03:00             882
 and initial compensation        Occasion).
 arrangements, 12 CFR
 360.6(b)(2)(i)(B) & (D)
 (Mandatory).

[[Page 8862]]

 
3. Residential mortgages: loan- Disclosure (On                 3           3.667           02:00              22
 level information and           Occasion).
 sponsor's disclosure of third-
 party due diligence report on
 compliance with
 360.6(b)(2)(ii)(B), 12 CFR
 360.6(b)(2)(ii)(A) & (B)
 (Mandatory).
4. Residential mortgages:       Disclosure (On                19           4.789           01:00              91
 servicer or affiliate           Occasion).
 ownership interests,.
12 CFR 360.6(b)(2)(ii)(C)
 (Mandatory).
5. Securitization documents,    Recordkeeping                 28          10.488           01:00             294
 12 CFR 360.6(c)(7)              (On Occasion).
 (Mandatory).
                                                 ---------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............           8,337
     (Hours):.
----------------------------------------------------------------------------------------------------------------
Source: FDIC.

    General Description of Collection: Part 360.6 of the FDIC's 
regulations sets forth certain conditions that must be satisfied for a 
securitization transaction sponsored by an insured depository 
institution to be eligible for special treatment in the event that the 
FDIC is appointed receiver for the sponsor. Among other conditions, the 
securitization documents must require compliance with certain 
disclosure requirements (including the requirements of Regulation AB of 
the Securities and Exchange Commission). Conditions of eligibility for 
special treatment for participations in financial assets under part 
360.6 are also set forth.
    Based upon a closer review of the Rule, the FDIC has re-categorized 
the information collection requirements in 12 CFR part 360.6 into five 
distinct information collections (ICs) covering: (1) periodic 
disclosures of credit performance or changes to initial compensation 
arrangements under 12 CFR 360.6(b)(2)(i)(C) and (D); (2) disclosures of 
initial compensation arrangements and securitization structure under 12 
CFR 360.6(b)(2)(i)(B) and (D); (3) sponsors' disclosures of loan-level 
information and third-party due diligence reports for RMBSs under 12 
CFR 360.6(b)(2)(ii)(A) and (B); (4) servicers' disclosures of servicer 
or affiliate ownership interests for securitizations in which the 
assets include residential mortgage loans under 12 CFR 
360.6(b)(2)(ii)(C); and (5) a recordkeeping requirement that the 
closing documents of a securitization be maintained in a readily 
accessible form under 12 CFR 360.6(c)(7). The burden associated with 
these five categories are enumerated in the estimated burden table 
which now identifies the regulatory authorities for each IC.
    While there is no change in the substance of the information 
collection, the ICR is being revised to reflect the re-categorization 
of the PRA requirements in 12 CFR part 360.6 into five distinct ICs. 
The additional IC was added to this ICR to recognize the periodic 
credit performance disclosure requirement.
    Request for Comment: Comments are invited on: (a) Whether the 
collections of information are necessary for the proper performance of 
the FDIC's functions, including whether the information has practical 
utility; (b) the accuracy of the estimates of the burden of the 
information collections, including the validity of the methodology and 
assumptions used; (c) ways to enhance the quality, utility, and clarity 
of the information to be collected; and (d) ways to minimize the burden 
of the collections of information on respondents, including through the 
use of automated collection techniques or other forms of information 
technology. All comments will become a matter of public record.

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on February 7, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023-02848 Filed 2-9-23; 8:45 am]
BILLING CODE 6714-01-P