82 FR 19716 - Agency Information Collection Activities: Submission for OMB Review; Comment Request (3064-0006 & -0184)
FEDERAL DEPOSIT INSURANCE CORPORATION Federal Register Volume 82, Issue 81 (April 28, 2017)
Federal Register Volume 82, Issue 81 (April 28, 2017)
| Page Range | 19716-19718 | |
| FR Document | 2017-08604 |
[Federal Register Volume 82, Number 81 (Friday, April 28, 2017)] [Notices] [Pages 19716-19718] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-08604] ======================================================================= ----------------------------------------------------------------------- FEDERAL DEPOSIT INSURANCE CORPORATION Agency Information Collection Activities: Submission for OMB Review; Comment Request (3064-0006 & -0184) AGENCY: Federal Deposit Insurance Corporation (FDIC). ACTION: Notice and request for comment. ----------------------------------------------------------------------- SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on the renewal of existing information collections, as required by the Paperwork Reduction Act of 1995. On January 11, 2017, the FDIC requested comment for 60 days on a proposal to renew the information collections described below. No comments were received. The FDIC hereby gives notice of its plan to submit to OMB a request to approve the renewal of these collections, and again invites comment on this renewal. DATES: Comments must be submitted on or before May 30, 2017. ADDRESSES: Interested parties are invited to submit written comments to the FDIC by any of the following methods:http://www.FDIC.gov/regulations/laws/federal/notices.html. Email: [email protected]. Include the name and number of the collection in the subject line of the message. Mail: Manny Cabeza (202-898-3767), Counsel, MB-3007, or Jennifer Jones (202-898-6768), Counsel, MB-3105, 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 or Jennifer Jones, at the FDIC address above. SUPPLEMENTARY INFORMATION: On January 11, 2017, (82 FR 3315), the FDIC requested comment for 60 days on a proposal to renew the information collections described below. No comments were received. The FDIC hereby gives notice of its plan to submit to OMB a request to approve the renewal of these collections, and again invites comment on this renewal. Proposal to renew the following currently approved collections of information: 1. Title: Interagency Biographical and Financial Report. OMB Number: 3064-0006. Form Number: Interagency Biographical and Financial Report. Affected Public: Insured State Nonmember Banks and State Savings Associations. Burden Estimate: ---------------------------------------------------------------------------------------------------------------- Estimated Total annual Type of burden number of Estimated time Frequency of response estimated respondents per response burden ---------------------------------------------------------------------------------------------------------------- Reporting............................. 574 4 On Occasion............. 2,296 hours ---------------------------------------------------------------------------------------------------------------- General Description of Collection: The Report is submitted to the FDIC by: (1) Each individual director, officer or individual or group of shareholders acting in concert that will own or control 10% or more of a proposed or operating depository institution applying for FDIC deposit insurance; (2) a person proposing to acquire control of an insured state nonmember bank or state savings association (FDIC- supervised institution); (3) each proposed new director or proposed new chief executive officer of an FDIC-supervised institution which has undergone a change in control within the preceding twelve months; and (4) each proposed new director or senior executive officer of an FDIC- supervised institution that is not in compliance with the applicable capital requirements or is otherwise in a troubled condition. The information is used by the FDIC to make an evaluation of the general character and financial condition of individuals who will be involved in the management or control of financial institutions, as required by statute. In order to lessen the burden on applicants, the FDIC cooperates with the other federal banking agencies to the maximum extent possible in processing the various applications. Notably, the Interagency Biographical and Financial Report will be amended to remove all references to the Office of Thrift Supervision as it appears on the form as well as changing the term ``thrift'' to ``savings association.'' These changes are technical and non-substantive in nature. There is no change in the method or substance of the collection. The overall reduction in burden hours is a result of economic fluctuation. In particular, the number of respondents has decreased while the hours per response remain the same. 2. Title: Prohibitions and Restrictions on Proprietary Trading and Certain Interests In and Relationships With, Hedge Funds and Private Equity Funds. OMB Number: 3064-0184. Form Number: None. Affected Public: Insured state nonmember banks not under a holding company; state savings associations and state savings banks not under a holding company; subsidiaries of state nonmember banks, state savings associations, and state savings banks not under a holding company; and foreign banks having an insured branch and their branches and agencies. [[Page 19717]] Burden Estimate ---------------------------------------------------------------------------------------------------------------- Estimated Estimated Total annual Type of burden number of time per Frequency of estimated respondents response response burden (hours) ---------------------------------------------------------------------------------------------------------------- Implementation ---------------------------------------------------------------------------------------------------------------- Sec. 351.12(e).............. Reporting....... 1 50 1 50 Total Reporting........... ................ .............. .............. .............. 50 Sec. 351.3(d)(3)............ Recordkeeping... 1 3 1 3 Sec. 351.4(b)(3)(i)(A)...... Recordkeeping... 1 2 4 8 Sec. 351.11(a)(2)........... Recordkeeping... 1 10 1 10 Sec. 351.20(b).............. Recordkeeping... 1 795 1 795 Sec. 351.20(e).............. Recordkeeping... 1 200 1 200 Sec. 351.20(f)(1)........... Recordkeeping... 1 8 1 8 Sec. 351.20(f)(2)........... Recordkeeping... 1 100 1 100 Total Recordkeeping....... ................ .............. .............. .............. 1,124 Sec. 351.11(a)(8)(i)........ Disclosure...... 1 0.1 26 3 Total Disclosure.......... ................ .............. .............. .............. 3 Total Implementation.. ................ .............. .............. .............. 1,177 ---------------------------------------------------------------------------------------------------------------- Ongoing ---------------------------------------------------------------------------------------------------------------- Sec. 351.12(e).............. Reporting....... 18 20 10 3,600 Total Reporting........... ................ .............. .............. .............. 3,600 Sec. 351.3(d)(3)............ Recordkeeping... 18 1 1 18 Sec. 351.4(b)(3)(i)(A)...... Recordkeeping... 18 2 4 144 Sec. 351.11(a)(2)........... Recordkeeping... 18 10 1 180 Sec. 351.20(b).............. Recordkeeping... 5 265 1 1,325 Sec. 351.20(e).............. Recordkeeping... 5 200 1 1,000 Sec. 351.20(f)(1)........... Recordkeeping... 819 8 1 6,552 Sec. 351.20(f)(2)........... Recordkeeping... 18 40 1 720 Total Recordkeeping....... ................ .............. .............. .............. 9,939 Sec. 351.11(a)(8)(i)........ Disclosure...... 18 0.1 26 47 Total Disclosure.......... ................ .............. .............. .............. 47 Total Ongoing......... ................ .............. .............. .............. 13,586 Total Estimated ................ .............. .............. .............. 14,763 Annual Burden. ---------------------------------------------------------------------------------------------------------------- General Description of Collection: Subject to certain exemptions, banking entities are generally prohibited from engaging in proprietary trading or from investing in, sponsoring, or having certain relationships with a hedge fund or private equity fund (``covered fund''). The Covered entities must retain certain records for a period that is no less than 5 years in a form that allows the prompt production of such records to the FDIC on request. The information collection requirements affecting FDIC-supervised institutions are summarized below. Reporting Requirements Section 351.12(e) states that, upon application, a banking entity may obtain an extension of the period of time to meet the requirements on ownership limitations in this section for up to 2 additional years. Recordkeeping Requirements Section 351.3(d)(3) requires covered entities to have a detailed written liquidity management plan that specifically contemplates and authorizes certain otherwise prohibited securities to be used for liquidity management purposes. Section 351.4(b)(3)(i)(A) provides that a trading desk or other organizational unit of another entity with more than $50 billion in trading assets and liabilities is not a client, customer, or counterparty unless the trading desk documents how and why a particular trading desk or other organizational unit of the entity should be treated as a client, customer, or counterparty of the trading desk for purposes of Sec. 351.4(b). Section 351.11(a)(2) requires that covered funds generally must be organized and offered only in connection with the provision of bona fide trust, fiduciary, investment advisory, or commodity trading advisory services and only to persons that are customers of such services of the banking entity, pursuant to a written plan or similar documentation outlining how the banking entity intends to provide advisory or other similar services to its customers through organizing and offering the covered fund. Section 351.20(b) specifies the contents of a required compliance program for a banking entity with total consolidated assets of $10 billion or more including a provision requiring that records sufficient to demonstrate compliance with section 13 of the BHC Act and applicable regulations be maintained and retained for a period of no less than 5 years or such longer period as required by FDIC. Section 351.20(e) specifies that any banking entity that has more than $10 billion in total consolidated assets as reported on December 31 of the previous two calendar years shall maintain records documenting the determination that each fund sponsored by the banking entity (including all subsidiaries and affiliates) is not a covered fund. Banking entities must also maintain a written plan documenting the treatment of certain seeding vehicles described in the regulation and, under certain circumstances, documentation of the value of the ownership interests owned by the banking entity in certain foreign public fund and each jurisdiction in which any such foreign public fund is organized. [[Page 19718]] Section 351.20(f)(1) applies to banking entities with no covered activities. A banking entity that does not engage in activities or investments pursuant to subpart B or subpart C (other than trading activities permitted pursuant to Sec. 351.6(a) of subpart B) may satisfy the requirements of this section by establishing the required compliance program prior to becoming engaged in such activities or making such investments (other than trading activities permitted pursuant to Sec. 351.6(a) of subpart B). Section 351.20(f)(2) applies to banking entities with modest activities. A banking entity with total consolidated assets of $10 billion or less as reported on December 31 of the previous two calendar years may satisfy the requirements of this section by including in its existing compliance policies and procedures appropriate references to the statutory and regulatory requirements and adjustments as appropriate given the activities, size, scope and complexity of the banking entity. Disclosure Requirements Section 351.11(a)(8)(i) requires that a banking entity make certain clear and conspicuous written disclosures to any prospective and actual investor in a covered fund (such as through disclosure in the covered fund's offering documents). There is no change in the method or substance of this information collection. The annual burden estimate has been reduced from 28,234 hours to 17,763 hours primarily because the FDIC estimates that all FDIC-supervised institutions have now completed the implementation phase of the information collection and are no longer subject to that burden. FDIC is using one (1) respondent as a place-holder for implementation burden. Another reason for the reduction in burden is that fewer institutions are subject to reporting, recordkeeping and disclosure requirements. The foregoing reductions in burden more than offset a modest increase in burden attributable to: (i) One additional institution growing in size to a degree that now makes it subject to 12 CFR 351.20(b) and (e) recordkeeping requirements; and (ii) an agency adjustment in its estimate of respondents affected by the recordkeeping requirements in 12 CFR 351.20(f)(1) due to the inadvertent omission of a class of respondents in its prior estimate. 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. Dated at Washington, DC, this 24th day of April 2017. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2017-08604 Filed 4-27-17; 8:45 am] BILLING CODE 6714-01-P
![19716 Federal Register / Vol. 82, No. 81 / Friday, April 28, 2017 / Notices
Station WVOZ, Facility ID 72452, BP– ACTION: Notice and request for comment. the rear of the 17th Street Building
20170327AAF, From Morovis, PR, To (located on F Street), on business days
Aguadilla, PR. SUMMARY: The FDIC, as part of its between 7:00 a.m. and 5:00 p.m.
continuing effort to reduce paperwork
DATES: The agency must receive All comments should refer to the
and respondent burden, invites the
comments on or before June 27, 2017. relevant OMB control number. A copy
general public and other Federal
ADDRESSES: Federal Communications of the comments may also be submitted
agencies to take this opportunity to
Commission, 445 Twelfth Street SW., to the OMB desk officer for the FDIC:
comment on the renewal of existing
Washington, DC 20554. Office of Information and Regulatory
information collections, as required by
FOR FURTHER INFORMATION CONTACT: Affairs, Office of Management and
the Paperwork Reduction Act of 1995.
Tung Bui, 202–418–2700. Budget, New Executive Office Building,
On January 11, 2017, the FDIC requested
SUPPLEMENTARY INFORMATION: The full
Washington, DC 20503.
comment for 60 days on a proposal to
text of these applications is available for renew the information collections FOR FURTHER INFORMATION CONTACT:
inspection and copying during normal described below. No comments were Manny Cabeza or Jennifer Jones, at the
business hours in the Commission’s received. The FDIC hereby gives notice FDIC address above.
Reference Center, 445 12th Street SW., of its plan to submit to OMB a request SUPPLEMENTARY INFORMATION: On
Washington, DC 20554 or electronically to approve the renewal of these January 11, 2017, (82 FR 3315), the FDIC
via the Media Bureau’s Consolidated collections, and again invites comment requested comment for 60 days on a
Data Base System, http:// on this renewal. proposal to renew the information
licensing.fcc.gov/prod/cdbs/pubacc/ DATES: Comments must be submitted on collections described below. No
prod/cdbs_pa.htm. or before May 30, 2017. comments were received. The FDIC
Federal Communications Commission. ADDRESSES: Interested parties are hereby gives notice of its plan to submit
James D. Bradshaw, invited to submit written comments to to OMB a request to approve the
Deputy Chief, Audio Division, Media Bureau. the FDIC by any of the following renewal of these collections, and again
[FR Doc. 2017–08585 Filed 4–27–17; 8:45 am] methods: invites comment on this renewal.
BILLING CODE 6712–01–P
• http://www.FDIC.gov/regulations/ Proposal to renew the following
laws/federal/notices.html. currently approved collections of
• Email: comments@fdic.gov. Include information:
the name and number of the collection 1. Title: Interagency Biographical and
FEDERAL DEPOSIT INSURANCE
in the subject line of the message. Financial Report.
CORPORATION • Mail: Manny Cabeza (202–898–
OMB Number: 3064–0006.
Agency Information Collection 3767), Counsel, MB–3007, or Jennifer
Jones (202–898–6768), Counsel, MB– Form Number: Interagency
Activities: Submission for OMB Biographical and Financial Report.
Review; Comment Request (3064–0006 3105, Federal Deposit Insurance
Corporation, 550 17th Street NW., Affected Public: Insured State
& –0184) Nonmember Banks and State Savings
Washington, DC 20429.
AGENCY: Federal Deposit Insurance • Hand Delivery: Comments may be Associations.
Corporation (FDIC). hand-delivered to the guard station at Burden Estimate:
Estimated Estimated Total annual
Type of burden number of time per Frequency of response estimated
respondents response burden
Reporting ......................................................... 574 4 On Occasion .................................................. 2,296 hours
General Description of Collection: The or is otherwise in a troubled condition. reduction in burden hours is a result of
Report is submitted to the FDIC by: (1) The information is used by the FDIC to economic fluctuation. In particular, the
Each individual director, officer or make an evaluation of the general number of respondents has decreased
individual or group of shareholders character and financial condition of while the hours per response remain the
acting in concert that will own or individuals who will be involved in the same.
control 10% or more of a proposed or management or control of financial 2. Title: Prohibitions and Restrictions
operating depository institution institutions, as required by statute. In on Proprietary Trading and Certain
applying for FDIC deposit insurance; (2) order to lessen the burden on Interests In and Relationships With,
a person proposing to acquire control of applicants, the FDIC cooperates with the Hedge Funds and Private Equity Funds.
other federal banking agencies to the
an insured state nonmember bank or OMB Number: 3064–0184.
maximum extent possible in processing
state savings association (FDIC- Form Number: None.
the various applications. Notably, the
supervised institution); (3) each Interagency Biographical and Financial Affected Public: Insured state
proposed new director or proposed new Report will be amended to remove all nonmember banks not under a holding
chief executive officer of an FDIC- references to the Office of Thrift company; state savings associations and
asabaliauskas on DSK3SPTVN1PROD with NOTICES
supervised institution which has Supervision as it appears on the form as state savings banks not under a holding
undergone a change in control within well as changing the term ‘‘thrift’’ to company; subsidiaries of state
the preceding twelve months; and (4) ‘‘savings association.’’ These changes nonmember banks, state savings
each proposed new director or senior are technical and non-substantive in associations, and state savings banks not
executive officer of an FDIC-supervised nature. under a holding company; and foreign
institution that is not in compliance There is no change in the method or banks having an insured branch and
with the applicable capital requirements substance of the collection. The overall their branches and agencies.
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![19718 Federal Register / Vol. 82, No. 81 / Friday, April 28, 2017 / Notices
Section 351.20(f)(1) applies to One additional institution growing in agencies to take this opportunity to
banking entities with no covered size to a degree that now makes it comment on the renewal of existing
activities. A banking entity that does not subject to 12 CFR 351.20(b) and (e) information collections, as required by
engage in activities or investments recordkeeping requirements; and (ii) an the Paperwork Reduction Act of 1995
pursuant to subpart B or subpart C agency adjustment in its estimate of (44 U.S.C. chapter 35). Currently, the
(other than trading activities permitted respondents affected by the FDIC is soliciting comment on renewal
pursuant to § 351.6(a) of subpart B) may recordkeeping requirements in 12 CFR of the information collections described
satisfy the requirements of this section 351.20(f)(1) due to the inadvertent below.
by establishing the required compliance omission of a class of respondents in its DATES: Comments must be submitted on
program prior to becoming engaged in prior estimate. or before June 27, 2017.
such activities or making such
investments (other than trading Request for Comment ADDRESSES: Interested parties are
activities permitted pursuant to Comments are invited on: (a) Whether invited to submit written comments to
§ 351.6(a) of subpart B). the collections of information are the FDIC by any of the following
Section 351.20(f)(2) applies to necessary for the proper performance of methods:
banking entities with modest activities. the FDIC’s functions, including whether • http://www.FDIC.gov/regulations/
A banking entity with total consolidated the information has practical utility; (b) laws/federal/notices.html.
assets of $10 billion or less as reported the accuracy of the estimates of the • Email: comments@fdic.gov. Include
on December 31 of the previous two burden of the information collections, the name and number of the collection
calendar years may satisfy the including the validity of the in the subject line of the message.
requirements of this section by methodology and assumptions used; (c) • Mail: Manny Cabeza (202–898–
including in its existing compliance ways to enhance the quality, utility, and 3767). Counsel, MB 3007 or Jennifer
policies and procedures appropriate clarity of the information to be Jones (202–898–6768), Counsel, MB–
references to the statutory and collected; and (d) ways to minimize the 3105, Federal Deposit Insurance
regulatory requirements and burden of the collections of information Corporation, 550 17th Street NW.,
adjustments as appropriate given the on respondents, including through the Washington, DC 20429.
activities, size, scope and complexity of use of automated collection techniques • Hand Delivery: Comments may be
the banking entity. or other forms of information hand-delivered to the guard station at
technology. All comments will become the rear of the 17th Street Building
Disclosure Requirements
a matter of public record. (located on F Street), on business days
Section 351.11(a)(8)(i) requires that a between 7:00 a.m. and 5:00 p.m.
Dated at Washington, DC, this 24th day of
banking entity make certain clear and All comments should refer to the
April 2017.
conspicuous written disclosures to any relevant OMB control number. A copy
Federal Deposit Insurance Corporation.
prospective and actual investor in a of the comments may also be submitted
covered fund (such as through Robert E. Feldman,
to the OMB desk officer for the FDIC:
disclosure in the covered fund’s offering Executive Secretary.
Office of Information and Regulatory
documents). [FR Doc. 2017–08604 Filed 4–27–17; 8:45 am] Affairs, Office of Management and
There is no change in the method or BILLING CODE 6714–01–P Budget, New Executive Office Building,
substance of this information collection. Washington, DC 20503.
The annual burden estimate has been
FEDERAL DEPOSIT INSURANCE FOR FURTHER INFORMATION CONTACT:
reduced from 28,234 hours to 17,763
CORPORATION Manny Cabeza or Jennifer Jones, at the
hours primarily because the FDIC
FDIC address noted above.
estimates that all FDIC-supervised
institutions have now completed the Agency Information Collection SUPPLEMENTARY INFORMATION: Proposal
implementation phase of the Activities: Proposed Collection to renew the following currently
information collection and are no longer Renewals; Comment Request (3064– approved collections of information:
subject to that burden. FDIC is using one 0099; –0118; –0148 and –0153) 1. Title: Application for Waiver of
(1) respondent as a place-holder for AGENCY: Federal Deposit Insurance Prohibition on Acceptance of Brokered
implementation burden. Another reason Corporation (FDIC). Deposits.
for the reduction in burden is that fewer OMB Number: 3064–0099.
ACTION: Notice and request for comment.
institutions are subject to reporting, Form Number: None.
recordkeeping and disclosure SUMMARY: The FDIC, as part of its Affected Public: Insured state
requirements. The foregoing reductions continuing effort to reduce paperwork nonmember banks and state savings
in burden more than offset a modest and respondent burden, invites the associations.
increase in burden attributable to: (i) general public and other Federal Burden Estimate:
Total annual
Estimated Estimated time estimated
Type of burden number of per response Frequency of response burden
respondents (hours) (hours)
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Reporting ......................................................... 30 6 On Occasion .................................................. 180
General Description of Collection: or rolling over any brokered deposits. deposits without restriction. This
Section 29 of the Federal Deposit Adequately capitalized institutions may information collection captures the
Insurance Act prohibits do so with a waiver from the FDIC, burden associated with preparing and
undercapitalized insured depository while well-capitalized institutions may filing an application for a waiver of the
institutions from accepting, renewing, accept, renew, or roll over brokered
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Document Created: 2017-04-28 03:03:06
Document Modified: 2017-04-28 03:03:06
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice and request for comment. | |
| Dates | Comments must be submitted on or before May 30, 2017. | |
| Contact | Manny Cabeza or Jennifer Jones, at the | |
| FR Citation | 82 FR 19716 |
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