81_FR_65829 81 FR 65644 - Sunshine Act Meeting

81 FR 65644 - Sunshine Act Meeting

FEDERAL DEPOSIT INSURANCE CORPORATION

Federal Register Volume 81, Issue 185 (September 23, 2016)

Page Range65644-65645
FR Document2016-23050

Federal Register, Volume 81 Issue 185 (Friday, September 23, 2016) 
[Federal Register Volume 81, Number 185 (Friday, September 23, 2016)]
[Notices]
[Pages 65644-65645]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-23050]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Sunshine Act Meeting

    Pursuant to the provisions of the ``Government in the Sunshine 
Act'' (5 U.S.C. 552b), notice is hereby given that at 3:53 p.m. on 
Tuesday, September 20, 2016, the Board of Directors of the Federal 
Deposit Insurance Corporation met in closed session to consider matters 
related to the Corporation's supervision and resolution activities.
    In calling the meeting, the Board determined, on motion of Vice 
Chairman Thomas M. Hoenig, seconded by Director Richard Cordray 
(Director, Consumer Financial Protection Bureau),

[[Page 65645]]

concurred in by Director Thomas J. Curry (Comptroller of the Currency) 
and Chairman Martin J. Gruenberg, that Corporation business required 
its consideration of the matters which were to be the subject of this 
meeting on less than seven days' notice to the public; that no earlier 
notice of the meeting was practicable; that the public interest did not 
require consideration of the matters in a meeting open to public 
observation; and that the matters could be considered in a closed 
meeting by authority of subsections (c)(4), (c)(6), (c)(8), 
(c)(9)(A)(ii), (c)(9)(B), and (c)(10) of the ``Government in the 
Sunshine Act'' (5 U.S.C. 552b(c)(4), (c)(6), (c)(8), (c)(9)(A)(ii), 
(c)(9)(B), and (c)(10).

    Dated: September 20, 2016.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016-23050 Filed 9-21-16; 11:15 am]
 BILLING CODE P

65644 Federal Register / Vol. 81, No. 185 / Friday, September 23, 2016 / Notices Affected Public: Insured State products; persons who sell insurance nonmember banks and savings nonmember banks and savings products in or on behalf of insured State associations. associations that sell insurance BURDEN ESTIMATE Estimated Average Hours per Frequency of Estimated number of number of response response burden responses responses Revising and Updating Disclosures .................................. 2,729 1 1 Annually ............ 2,729 Disclosures to Consumers ................................................ 2,729 240 0.1667 On Occasion ..... 10,916 Total Estimated Burden ............................................. ........................ ........................ ........................ ........................... 13,645 General Description: Respondents initial sale of an insurance product or 4. Title: Reverse Mortgage Products. must prepare and provide certain annuity to a consumer; and (2) at the OMB Number: 3064–0176. disclosures to consumers (e.g., that time of application for the extension of Affected Public: Insured State insurance products and annuities are credit (if insurance products or nonmember banks and savings not FDIC-insured) and obtain consumer annuities are sold, solicited, advertised, associations. acknowledgments, at two different or offered in connection with an Estimated Number of Respondents: times: (1) Before the completion of the extension of credit). 26.1 BURDEN ESTIMATE: Number of Hours per Total burden Frequency respondents response hours Implementation ............................................................................................. 1 40 Annually ............ 40 Ongoing ........................................................................................................ 25 8 Annually ............ 200 Total ....................................................................................................... 26 ........................ ........................... 240 General Description: In August, 2010, • Policies should be clear so that use of automated collection techniques the Office of the Comptroller of the originators do not have an inappropriate or other forms of information Currency (OCC), Board of Governors of incentive to sell other products that technology. All comments will become the Federal Reserve System (FRB) the appear linked to the granting of a a matter of public record. National Credit Union Administration mortgage. Dated at Washington, DC, this 20th day of (NCUA) and the FDIC, issued guidance • Legal and compliance reviews September 2016. focusing on the need to provide should include oversight of Federal Deposit Insurance Corporation. adequate information to consumers compensation programs so that lending Valerie J. Best, about reverse mortgage products; to personnel are not improperly Assistant Executive Secretary. provide qualified independent encouraged to direct consumers to [FR Doc. 2016–22953 Filed 9–22–16; 8:45 am] counseling to consumers considering particular products. these products; and to avoid potential BILLING CODE P • Training should be designed so that conflicts of interest. The guidance also relevant lending personnel are able to addressed related policies, procedures, convey information to consumers about FEDERAL DEPOSIT INSURANCE internal controls, and third party risk product terms and risks in a timely, CORPORATION management. Prior to the effective date accurate, and balanced manner. of the final guidance, the Agencies Sunshine Act Meeting obtained PRA approval from OMB for Request for Comment the information collection requirements Comments are invited on: (a) Whether Pursuant to the provisions of the contained therein. These information the collections of information are ‘‘Government in the Sunshine Act’’ (5 collection requirements included necessary for the proper performance of U.S.C. 552b), notice is hereby given that implementation of policies and the FDIC’s functions, including whether at 3:53 p.m. on Tuesday, September 20, procedures, training, and program the information has practical utility; (b) 2016, the Board of Directors of the maintenance. The requirements are the accuracy of the estimates of the Federal Deposit Insurance Corporation outlined below: burden of the collections of information, met in closed session to consider • Institutions offering reverse including the validity of the matters related to the Corporation’s mortgages should have written policies methodology and assumptions used; (c) supervision and resolution activities. sradovich on DSK3GMQ082PROD with NOTICES and procedures that prohibit the ways to enhance the quality, utility, and In calling the meeting, the Board practice of directing a consumer to a clarity of the information to be determined, on motion of Vice particular counseling agency or collected; and (d) ways to minimize the Chairman Thomas M. Hoenig, seconded contacting a counselor on the burden of the collections of information by Director Richard Cordray (Director, consumer’s behalf. on respondents, including through the Consumer Financial Protection Bureau), 1 FDIC estimates that the number of respondents program and now only face the ongoing compliance institution that would be required to implement the will be 26 (25 that have already implemented the burden and one (1) as a placeholder for any new guidance requirements. VerDate Sep<11>2014 18:22 Sep 22, 2016 Jkt 238001 PO 00000 Frm 00023 Fmt 4703 Sfmt 4703 E:\FR\FM\23SEN1.SGM 23SEN1

Federal Register / Vol. 81, No. 185 / Friday, September 23, 2016 / Notices 65645 concurred in by Director Thomas J. you submit your comment to the 10(g) of the Bank Act, is set forth at 12 Curry (Comptroller of the Currency) and Federal eRulemaking Portal, please also CFR part 1290. Chairman Martin J. Gruenberg, that send it by email to FHFA at Part 1290 requires that each Bank Corporation business required its RegComments@fhfa.gov to ensure member submit to FHFA biennially a consideration of the matters which were timely receipt by the agency. completed Community Support to be the subject of this meeting on less • Mail/Hand Delivery: Federal Statement (Form 060), which contains than seven days’ notice to the public; Housing Finance Agency, Eighth Floor, several short questions the answers to that no earlier notice of the meeting was 400 Seventh Street SW., Washington, practicable; that the public interest did DC 20219, ATTENTION: Proposed which are used by FHFA to assess the not require consideration of the matters Collection; Comment Request: responding member’s compliance with in a meeting open to public observation; ‘‘Community Support Requirements, the community support standards. and that the matters could be (No. 2016–N–08)’’. Previously, this was accomplished by considered in a closed meeting by We will post all public comments we requiring approximately one-eighth of authority of subsections (c)(4), (c)(6), receive without change, including any all members to submit a completed (c)(8), (c)(9)(A)(ii), (c)(9)(B), and (c)(10) personal information you provide, such Form in each calendar quarter of a two- of the ‘‘Government in the Sunshine as your name and address, email year review cycle. Under new Act’’ (5 U.S.C. 552b(c)(4), (c)(6), (c)(8), address, and telephone number, on the streamlined procedures that FHFA is in (c)(9)(A)(ii), (c)(9)(B), and (c)(10). FHFA Web site at http://www.fhfa.gov. the process of implementing, all Dated: September 20, 2016. In addition, copies of all comments members subject to community support received will be available for review will be required to submit a Federal Deposit Insurance Corporation. examination by the public on business completed Form 060 at approximately Robert E. Feldman, days between the hours of 10 a.m. and the same time every two years. Executive Secretary. 3 p.m., at the Federal Housing Finance [FR Doc. 2016–23050 Filed 9–21–16; 11:15 am] FHFA has revised Form 060 to reflect Agency, Eighth Floor, 400 Seventh the new streamlined procedures. These BILLING CODE P Street SW., Washington, DC 20219. To revisions reduce slightly the number of make an appointment to inspect questions on the Form and modify the comments, please call the Office of formatting so that members will be able FEDERAL HOUSING FINANCE General Counsel at (202) 649–3804. AGENCY to complete and submit the Form FOR FURTHER INFORMATION CONTACT: online. In substance, the revised Form [No. 2016–N–08] Deattra D. Perkins, Senior Policy 060 is materially the same as the Analyst, Division of Housing Mission & existing Form. In part I of the Form, a Proposed Collection; Comment Goals, Deattra.Perkins@fhfa.gov, (202) member that is subject to the CRA must Request 649–3133; or Sylvia C. Martinez, record its most recent CRA rating and Manager, Federal Home Loan Bank the year of that rating. Part II of the AGENCY: Federal Housing Finance Housing and Community Investment Agency. Form addresses a member’s efforts to Programs, Division of Housing Mission ACTION: 60-day notice of submission of assist first-time homebuyers. A member & Goals, Sylvia.Martinez@fhfa.gov, (202) information collection for approval from may either record the number and dollar 649–3301 (these are not toll-free Office of Management and Budget. numbers); Federal Housing Finance amount of mortgage loans made to first- Agency, 400 Seventh Street SW., time homebuyers in the previous or SUMMARY: In accordance with the current calendar year (part II.A), or requirements of the Paperwork Washington, DC 20219. The Telecommunications Device for the indicate the types of programs or Reduction Act of 1995, the Federal activities it has undertaken to assist Housing Finance Agency (FHFA) is Hearing Impaired is (800) 877–8339. first-time homebuyers by checking seeking public comments concerning an SUPPLEMENTARY INFORMATION: selections from a list (part II.B), or do expired information collection known A. Background both. If a member has received a CRA as ‘‘Community Support Requirements,’’ rating of ‘‘Outstanding,’’ it need not which was assigned control number Section 10(g)(1) of the Federal Home Loan Bank Act (Bank Act) requires the complete part II of the Form. A copy of 2590–0005 by the Office of Management the revised Form and related and Budget (OMB). FHFA intends to Director of FHFA to promulgate regulations establishing standards of instructions appear at the end of this submit the information collection to community investment or service that Notice. OMB for review and approval of a reinstatement of the control number, Federal Home Loan Bank (Bank) Part 1290 also establishes the which expired on February 29, 2016, for member institutions must meet in order circumstances under which FHFA will a period of three years. to maintain access to long-term Bank restrict a member’s access to long-term advances. Section 10(g)(2) of the Bank Bank advances for failure to meet the DATES: Interested persons may submit Act requires that, in establishing these community support requirements. It comments on or before November 22, community support requirements for permits Bank members whose access to 2016. Bank members, FHFA take into account long-term advances has been restricted ADDRESSES: Submit comments to FHFA, factors such as the member’s to apply directly to FHFA to remove the identified by ‘‘Proposed Collection; performance under the Community restriction if certain criteria are met. Comment Request: ‘Community Support sradovich on DSK3GMQ082PROD with NOTICES Reinvestment Act of 1977 (CRA) and Requirements, (No. 2016–N–08)’ ’’ by record of lending to first-time The OMB control number for the any of the following methods: homebuyers.1 FHFA’s community information collection contained in • Agency Web site: www.fhfa.gov/ support regulation, which establishes Form 060 and part 1290 is 2590–0005. open-for-comment-or-input. standards and review criteria for The OMB clearance for this control • Federal eRulemaking Portal: http:// determining compliance with section number expired on February 29, 2016. www.regulations.gov. Follow the The respondents are institutions that are instructions for submitting comments. If 1 12 U.S.C. 1430(g)(1), (2). Bank members. VerDate Sep<11>2014 18:22 Sep 22, 2016 Jkt 238001 PO 00000 Frm 00024 Fmt 4703 Sfmt 4703 E:\FR\FM\23SEN1.SGM 23SEN1


Document Created: 2016-09-23 01:43:29
Document Modified: 2016-09-23 01:43:29
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 65644 
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