82 FR 22665 - Agency Information Collection Activities: Proposed Collection Renewals; Comment Request (3064-0092; -0149 & -0182)

FEDERAL DEPOSIT INSURANCE CORPORATION

Federal Register Volume 82, Issue 94 (May 17, 2017)

Page Range		22665-22667
FR Document		2017-09992

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. Currently, the FDIC is soliciting comment on renewal of the information collections described below.

Federal Register, Volume 82 Issue 94 (Wednesday, May 17, 2017)

[Federal Register Volume 82, Number 94 (Wednesday, May 17, 2017)]
[Notices]
[Pages 22665-22667]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2017-09992]

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FEDERAL DEPOSIT INSURANCE CORPORATION

Agency Information Collection Activities: Proposed Collection
Renewals; Comment Request (3064-0092; -0149 & -0182)

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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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. Currently, the FDIC is soliciting comment on renewal of the
information collections described below.

DATES: Comments must be submitted on or before July 17, 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: comments@fdic.gov. Include the name and number of
the collection in the subject line of the message.
Mail: Manny Cabeza (202-898-3767). Counsel, MB 3007,
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 at the FDIC address noted
above.

SUPPLEMENTARY INFORMATION: Proposal to renew the following currently
approved collections of information:
1. Title: Community Reinvestment Act.
OMB Number: 3064-0092.
Form Number: None.
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:

----------------------------------------------------------------------------------------------------------------
Total
Estimated Average estimated
Source and type of burden Description number of estimated annual
respondents time per burden
response (hours)
----------------------------------------------------------------------------------------------------------------
345.25(b) Reporting..................... Request for designation as a 1 4 4
wholesale or limited purpose
bank--Banks requesting this
designation shall file a
request in writing with the
FDIC at least 3 months prior
to the proposed effective date
of the designation.
345.27 Reporting........................ Strategic plan--Applies to 7 400 2,800
banks electing to submit
strategic plans to the FDIC
for approval.
345.42(b)(1) Reporting.................. Small business/small farm loan * 393 8 3,144
data--Large banks shall and
Small banks may report
annually in machine readable
form the aggregate number and
amount of certain loans.
345.42(b)(2) Reporting.................. Community development loan * 393 13 5,109
data--Large banks shall and
Small banks may report
annually, in machine readable
form, the aggregate number and
aggregate amount of community
development loans originated
or purchased.
345.42(b)(3) Reporting.................. Home mortgage loans--Large * 393 253 99,429
banks, if subject to reporting
under part 203 (Home Mortgage
Disclosure (HMDA)), shall, and
Small banks may report the
location of each home mortgage
loan application, origination,
or purchase outside the MSA in
which the bank has a home/
branch office.
345.42(d) Reporting..................... Data on affiliate lending-- 200 38 7,600
Banks that elect to have the
FDIC consider loans by an
affiliate, for purposes of the
lending or community
development test or an
approved strategic plan, shall
collect, maintain and report
the data that the bank would
have collected, maintained,
and reported pursuant to Sec.
345.42(a), (b), and (c) had
the loans been originated or
purchased by the bank. For
home mortgage loans, the bank
shall also be prepared to
identify the home mortgage
loans reported under HMDA.
345.42(e) Reporting..................... Data on lending by a consortium 75 17 1,275
or a third party--Banks that
elect to have the FDIC
consider community development
loans by a consortium or a
third party, for purposes of
the lending or community
development tests or an
approved strategic plan, shall
report for those loans the
data that the bank would have
reported under Sec.
345.42(b)(2) had the loans
been originated or purchased
by the bank.

[[Page 22666]]

345.42(g) Reporting..................... Assessment area data -Large * 393 2 786
banks shall and Small banks
may collect and report to the
FDIC a list for each
assessment area showing the
geographies within the area.
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
Total Reporting..................... ............................... ........... ........... 120,147
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
345.42(a) Recordkeeping................. Small business/small farm loan * 393 219 86,067
register--Large banks shall
and Small banks may collect
and maintain certain date in
machine-readable form.
345.42(c) Recordkeeping................. Optional consumer loan data-- 75 326 24,450
All banks may collect and
maintain in machine readable
form certain data for consumer
loans originated or purchased
by a bank for consideration
under the lending test.
345.42(c)(2) Recordkeeping.............. Other loan data--All banks 100 25 2,500
optionally may provide other
information concerning their
lending performance, including
additional loan distribution
data.
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
Total Recordkeeping................. ............................... ........... ........... 113,017
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
345.41(a) 345.43(a); (a)(1); (a)(2); Content and availability of 3,971 10 39,710
(a)(3); (a)(4); (a)(5); (a)(6); (a)(7); public file--All banks shall
(b)(1); (b)(2); (b)(3); (b)(4); (b)(5); maintain a public file that
(c); (d) Disclosure. contains certain required
information.
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
Total Disclosure.................... ............................... ........... ........... 39,710
Total Estimated Annual Burden... ............................... ........... ........... 272,874
----------------------------------------------------------------------------------------------------------------
* The number of Large Banks reporting decreased from 253 to 243. However, 150 Small Banks are voluntarily
collecting and reporting data, and the number of respndents has been adjusted to reflect this.

General Description of Collection: The Community Reinvestment Act
regulation requires the FDIC to assess the record of banks and thrifts
in helping meet the credit needs of their entire communities, including
low- and moderate-income neighborhoods, consistent with safe and sound
operations; and to take this record into account in evaluating
applications for mergers, branches, and certain other corporate
activities.
There is no change in the method or substance of the collection.
The overall increase in burden hours is a result of an increase in the
number of Small Banks electing to voluntarily respond in certain
categories. The increase is also, in small part, due to an adjustment
in the agency's estimate of the time required to submit strategic plan
applications from 275 hours per respondent to 400 hours per respondent.
2. Title: Affiliate Marketing Consumer Opt-Out Notices.
OMB Number: 3064-0149.
Form Number: None.
Affected Public: Insured state nonmember banks, state savings
associations that have affiliates and consumers that have a
relationship with the foregoing.
Burden Estimate:

----------------------------------------------------------------------------------------------------------------
Total
Estimated Estimated time Frequency of estimated
Type of burden number of per response response annual burden
respondents (hours) (hours)
----------------------------------------------------------------------------------------------------------------
Implementation.................................. \1\ 1 18 1 18
Ongoing......................................... \2\ 990 2 1 1,980
Consumer Opt-Out................................ \3\ 857,939 * 5 1 71,495
---------------------------------------------------------------
Total Estimated Annual Burden............... .............. .............. .............. 73,493
----------------------------------------------------------------------------------------------------------------
\1\ All respondents have now gone through implementation of their programs. Accordingly, the number of
respondents facing implementation burden has been reduced from 990 to 1 as a placeholder for any institution
that elects to start sharing consumer information with its affiliates in the future.
\2\ The number of respondents facing ongoing burden remains unchanged at 990.
\3\ The FDIC estimates that 944 out of the 990 banks impacted by this information collection are community banks
having an average of 12,098 consumers and the remaining 46 are non-community (larger) banks having an average
of 124,745 consumers. The FDIC estimates that 5% of the 17,158,782 estimated consumers at these 990
institutions (857,939 consumers) elect to Opt-Out of affiliate marketing information sharing.
* Minutes.

General Description of Collection: Section 214 of the FACT Act
requires financial institutions that wish to share information about
consumers with their affiliates, to inform such consumers that they
have the opportunity to opt out of such marketing solicitations. The
disclosure notices and consumer responses thereto comprise the elements
of this collection of information.
There is no change in the method or substance of this information
collection. There has been a net increase in the estimated total annual
burden primarily because of an upward adjustment in the agency's
estimate of the number of consumers at FDIC-supervised institutions
that elect to opt-out of affiliate marketing information sharing. The
increase in burden due to the adjustment in the estimated number of
consumers affected was offset by the fact that banks have completed the
implementation phase of the information collection; the estimated
ongoing time per response for affected institutions decreasing from 18
hours at implementation to 2 hours ongoing.
3. Title: Retail Foreign Exchange Transactions.
OMB Number: 3064-0182.
Form Number: None.

[[Page 22667]]

Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:

----------------------------------------------------------------------------------------------------------------
Total
Number of Estimated time estimated
Type of burden respondents per response Frequency of response annual burden
(hours)
----------------------------------------------------------------------------------------------------------------
Reporting............................. 1 16 On Occasion............. 16
Recordkeeping......................... 1 166 On Occasion............. 166
Disclosure............................ 1 1,332 On Occasion............. 1,332
-------------------------------- ---------------
Total Estimated Annual Burden..... .............. .............. ........................ 1,514
----------------------------------------------------------------------------------------------------------------

General Description of Collection: This information collection
implements section 742(c)(2) of the Dodd-Frank Act (7 U.S.C. 2(c)(2)(E)
and FDIC regulations governing retail foreign exchange transactions as
set forth at 12 CFR part 349, subpart B. The regulation allows banking
organizations under FDIC supervision to engage in off-exchange
transactions in foreign currency with retail customers provided they
comply with various reporting, recordkeeping and third-party disclosure
requirements specified in the rule. If an institution elects to conduct
such transactions, compliance with the information collection is
mandatory.
Reporting Requirements--Part 349, subpart B requires that, prior to
initiating a retail foreign exchange business; a banking institution
must provide the FDIC with a notice certifying that the institution has
written policies and procedures, and risk measurement and management
systems and controls in place to ensure that retail foreign exchange
transactions are conducted in a safe and sound manner. The institution
must also provide information about it intends to manage customer due
diligence, new product approvals and haircuts applied to noncash
margin.
Recordkeeping Requirements--Part 349 subpart B requires that
institutions engaging in retail foreign exchange transactions keep
full, complete and systematic records of account, financial ledger,
transaction, memorandum orders and post execution allocations of
bunched orders. In addition, institutions are required to maintain
records regarding their ratio of profitable accounts, possible
violations of law, records of noncash margin and monthly statements and
confirmations issued.
Disclosure Requirements--The regulation requires that, before
opening an account that will engage in retail foreign exchange
transactions, a banking institution must obtain from each retail
foreign exchange customer an acknowledgement of receipt and
understanding of a written disclosure specified in the rule and of
disclosures about the banking institution's fees and other charges and
of its profitable accounts ratio. The institution must also provide
monthly statements to each retail foreign exchange customer and must
send confirmation statements following every transaction. The customer
dispute resolution provisions of the regulation require certain
endorsements, acknowledgements and signature language as well as the
timely provision of a list of persons qualified to handle a customer's
request for arbitration.
There is no change in the method or substance of the collection. At
present no FDIC-supervised institution is engaging in activities that
would make them subject to the information collection requirements.
FDIC originally estimated that 3 institutions would be impacted by the
rule. The agency is reducing the estimated number of respondents to one
(1) as a placeholder in case an institution elects to engage in covered
activities in the future. There has been no change in the frequency of
response or in the estimated number of hours required to respond.
Because of the reduction in the estimated number of respondents from
three (3) to one (1), the estimated annual burden has decreased.

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 12th day of May 2017.

Federal Deposit Insurance Corporation.
Ralph E. Frable,
Assistant Executive Secretary.
[FR Doc. 2017-09992 Filed 5-16-17; 8:45 am]
BILLING CODE 6714-01-P

Document Created: 2017-05-17 01:42:17
Document Modified: 2017-05-17 01:42:17

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 July 17, 2017.
FR Citation		82 FR 22665