Agency Information Collection Activities: Proposed Collection Renewal; Comment Request, 17222-17224 [2023-05883]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 88, Number 55 (Wednesday, March 22, 2023)]
[Notices]
[Pages 17222-17224]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-05883]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0029; -0112; -0125; -0177]


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its obligations under the Paperwork 
Reduction Act of 1995, invites the general public and other Federal 
agencies to take this opportunity to comment on the request to renew 
the existing information collections described below (OMB Control No. 
3064-0029, -0112, -0125, and -0177). The notices of the proposed 
renewal for these information collections were previously published in 
the Federal Register on January 6, 2023, and February 10, 2023, 
allowing for a 60-day comment period.

DATES: Comments must be submitted on or before April 21, 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.
    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 collection of 
information:
    1. Title: Notification of Performance of Bank Services.
    OMB Number: 3064-0029.
    Form Number: 6120/06.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

                                       Summary of Estimated Annual Burden
                                               [OMB No. 3064-0029]
----------------------------------------------------------------------------------------------------------------
                                 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. Notification of Performance  Reporting (On                294            2.21           00:30             325
 of Bank Services, 12 CFR        Occasion).
 304.3 (Mandatory).
                                                 ---------------------------------------------------------------
    Total Annual Burden         ................  ..............  ..............  ..............             325
     (Hours):.
----------------------------------------------------------------------------------------------------------------
Source: FDIC.

    General Description of Collection: Insured state nonmember banks 
are required to notify the FDIC, under section 7 of the Bank Service 
Company Act (12 U.S.C. 1867), of the relationship with a bank service 
company. The Form FDIC 6120/06, Notification of Performance of Bank 
Services, may be used by banks to satisfy the notification requirement. 
There is no change in the method or substance of the collection. The 
estimated number of respondents, as well as the time per response and 
the frequency of response have remained the same.
    2. 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

[[Page 17223]]

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.
    3. 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:

                                       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.
    4. 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:

[[Page 17224]]



                                       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).
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: Section 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 Sec.  
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 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 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 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 March 17, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023-05883 Filed 3-21-23; 8:45 am]
BILLING CODE 6714-01-P