Agency Information Collection Activities: Proposed Collection Renewal; Comment Request, 29245-29246 [2024-08021]

Agencies

• FEDERAL DEPOSIT INSURANCE CORPORATION

[Federal Register Volume 89, Number 77 (Friday, April 19, 2024)]
[Notices]
[Pages 29245-29246]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-08021]



Federal Register / Vol. 89, No. 77 / Friday, April 19, 2024 / 
Notices

[[Page 29245]]



FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0015]


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 (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. 
3064-0015).

DATES: Comments must be submitted on or before June 18, 2024.

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: Michelle Mire, Senior Attorney, 202-898-7377, 
[email protected], MB-3072, 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 a.m. and 5 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: Michelle Mire, Senior Attorney, 202-
898-7377, [email protected], MB-3072, 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: Interagency Bank Merger Application.
    OMB Number: 3064-0015.
    Form Number: 6220/01.
    Affected Public: FDIC-insured depository institutions.
    Burden Estimate:

                                                                Summary of Annual Burden
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                                                                                      Estimated                           Estimated time     Estimated
 Information collection description      Type of burden     Obligation to respond     number of     Estimated frequency    per response    annual burden
                                                                                     respondents        of responses          (hours)         (hours)
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Interagency Bank Merger Act          Reporting............  Mandatory............             103  On Occasion..........              19           1,957
 Application--Affiliated
 Transactions.
Interagency Bank Merger Act          Reporting............  Mandatory............             117  On Occasion..........              33           3,861
 Application--Nonaffiliated
 Transactions.
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    Total Estimated Annual Burden: 5,818.
    General Description of Collection: Section 18(c) of the Federal 
Deposit Insurance Act (FDI Act) requires an insured depository 
institution (IDI) that wishes to merge or consolidate with any other 
IDI or, either directly or indirectly, acquire the assets of, or assume 
liability to pay any deposits made in, any other IDI, to apply for the 
prior written approval of the responsible agency (the FDIC; the Board 
of Governors of the Federal Reserve (FRB); or the Office of the 
Comptroller of the Currency (OCC)).\1\ Section 18(c) further requires 
FDIC approval in connection with any merger transaction involving an 
IDI and a non-insured entity.
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    \1\ 12 U.S.C. 1828(c). The FDIC is the responsible agency if the 
acquiring, assuming, or resulting bank is to be a State nonmember 
insured bank or a State savings association.
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    The Interagency Bank Merger Act Application Form (Application Form) 
is used by the FDIC, the FRB, and the OCC for applications under 
section 18(c) of the FDI Act. The Application Form may be used for any 
merger transaction subject to section 18(c). There is a different level 
of burden for each of the two types of merger transactions, 
nonaffiliated and affiliated. An affiliate transaction refers to a 
merger, consolidation, other combination, or transfer of any deposit 
liabilities, between an IDI and another entity controlled by the same 
parent company, regardless of whether the other entity is FDIC-insured. 
It includes a business combination between an IDI and an affiliated 
interim institution. Applicants proposing affiliate transactions are 
not required to complete questions 12 through 14 of the Application 
Form. If the merging entities are not controlled by the same parent 
company, the merger transaction is considered nonaffiliated, and the 
applicant must complete the entire application form.
    The FDIC Supplement to the Interagency Bank Merger Act Application 
Form (Supplement) requires each applicant to provide information that 
delineates the relevant geographic market(s) and describes the 
competition in the relevant geographic market(s). The information 
collected focuses on the relevant geographic market(s) where the 
applicant and the entity to be acquired provide banking products or 
services. The Supplement includes specific instructions to facilitate a 
comprehensive competitive analysis relative to transactions between 
nonaffiliated entities.

Proposed Changes to the FDIC Supplement

    The proposed edits to the Supplement would make certain changes to 
the required information that would be applicable to all merger 
transactions that require FDIC approval. The revised Supplement 
clarifies that the delineation of the relevant geographic market(s) 
includes offices where customers may access a substantial share of 
banking products or services, which extend beyond deposits to include 
loans and private wealth management services, among other examples.
    The delineation of the relevant geographic market(s) includes the 
county, municipality, or census tract where both the applicant and 
target entity operate offices and provide products and services, as 
well as the alternate areas where customers may practically turn for 
products and services. The revised Supplement includes additional 
details regarding lists of products and services, including the number 
and dollar volume of deposits and loans.
    To enhance the analysis of the potential competitive effects in the 
relevant geographic market(s), the revised Supplement also seeks

[[Page 29246]]

information regarding non-FDIC insured entities (such as credit 
unions), as well as other entities that do not take deposits (such as 
finance companies or government agencies). Specific requests for 
additional information beyond the items articulated in the Supplement 
may be made to an applicant depending on the structure and nature of 
the proposed transaction. The proposed form can be viewed at https://www.fdic.gov/resources/regulations/federal-register-publications/2024/2024-bank-merger-act-supplement-clean.pdf; and the revisions to the 
form can be viewed at https://www.fdic.gov/resources/regulations/federal-register-publications/2024/2024-bank-merger-act-supplement-redline.pdf.
    The changes to the Supplement results in a 234-hour increase in 
burden hours for applicants required to file the Supplement with the 
FDIC.

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 estimate 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; (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; (e) 
whether the FDIC should require additional information for transactions 
over a certain threshold (such as when the resulting IDI's total assets 
exceed $100 billion), and if so, what information should be requested; 
and (f) whether the FDIC should streamline the Supplement to limit the 
information provided when the application is filed, and only seek 
additional information, as needed, depending on the nature of the 
transaction, and if so, how should the Supplement be streamlined. All 
comments will become a matter of public record.

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on April 11, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-08021 Filed 4-18-24; 8:45 am]
BILLING CODE 6714-01-P