82 FR 56240 - Agency Information Collection Activities: Proposed Collection Renewal; Comment Request (OMB No. 3064-0177)
FEDERAL DEPOSIT INSURANCE CORPORATION Federal Register Volume 82, Issue 227 (November 28, 2017)
Federal Register Volume 82, Issue 227 (November 28, 2017)
| Page Range | 56240-56241 | |
| FR Document | 2017-25638 |
[Federal Register Volume 82, Number 227 (Tuesday, November 28, 2017)] [Notices] [Pages 56240-56241] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-25638] ======================================================================= ----------------------------------------------------------------------- FEDERAL DEPOSIT INSURANCE CORPORATION Agency Information Collection Activities: Proposed Collection Renewal; Comment Request (OMB No. 3064-0177) 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 the existing information collection, as required by the Paperwork Reduction Act of 1995. Currently, the FDIC is soliciting comment on renewal of the information collection described below. DATES: Comments must be submitted on or before January 29, 2018. 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: 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: Jennifer Jones, at the FDIC address above. SUPPLEMENTARY INFORMATION: [[Page 56241]] Proposal To Renew the Following Currently Approved Collections of Information 1. Title: 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. Form Number: None. Affected Public: Insured Depository Institutions. Burden Estimate: Summary of Annual Burden and Internal Cost [3064-0177] -------------------------------------------------------------------------------------------------------------------------------------------------------- Estimated number of Total Estimated responses Estimated Estimated Frequency of annual Type of burden number of (average time per frequency response estimated respondents number of response burden transactions) -------------------------------------------------------------------------------------------------------------------------------------------------------- Disclosures: 360.6(b)(2)(i)(A), (D) Ongoing Private Transactions Non Disclosure................ 19 1.895 37 12.0 Monthly.............. 15,984 Reg AB Compliant. 360.6(b)(2)(i)(D)............. Disclosure................ 35 1.971 3 1.0 On Occasion.......... 207 360.6(b)(2)(ii)(B) Initial/One- Disclosure................ 1 6.000 1 1.0 On Occasion.......... 6 Time. 360.6(b)(2)(ii)(C )........... Disclosure................ 1 6.000 1 1.0 On Occasion.......... 6 ------------------------------------------------------ ------------ Total Disclosure .......................... ........... ............. ........... ........... ..................... 16,203 Burden. Recordkeeping: 360.6(c)(7)................... Recordkeeping............. 35 1.971 1 1.0 On Occasion.......... 69 ------------------------------------------------------ ------------ Total Recordkeeping Burden .......................... ........... ............. ........... ........... ..................... 69 ------------------------------------------------------ ------------ Total Burden.......... .......................... ........... ............. ........... ........... ..................... 16,272 -------------------------------------------------------------------------------------------------------------------------------------------------------- Summary of Capital/Start-Up Costs [3064-0177] -------------------------------------------------------------------------------------------------------------------------------------------------------- 360.6(b)(2)(i)(A), (B)--Initial/One- Time--Capital/Start-Up Costs--# of sponsors that have never done a Estimated Total cost registered transaction in particular Estimated hours per Total start of annual asset class since November 23, 2016-- number of respondent up hours Cost per hour estimated effective date for compliance with new respondents [(a + b) * burden Reg AB--and prior to doing a private c] (Internal) transaction -------------------------------------------------------------------------------------------------------------------------------------------------------- Private Transactions--Auto............. Disclosure............... 1 2,760 2,760 $250............................ $690,000 Private Transactions--CMBS............. Disclosure............... 17 3,040 51,680 250............................. $12,920,000 Private Transactions--RMBS *........... Disclosure............... 1 5,400 5,400 250............................. $1,350,000 --------------------------------------- ------------ Total.............................. ......................... ........... ........... ........... ................................ $14,960,000 (a) Existing systems and procedures for each required data point for all three asset classes = 10........ # of respondents................ 19 -------------------------------------------------------------------------------------------------------------------------------------------------------- (b) The number of hours required to adjust systems to provide asset level data in XML format for each cost/respondent................. $787,368.42 required data point = 10. -------------------------------------------------------------------------------------------------------------------------------------------------------- (c) Estimated number of data points (per SEC Reg AB Rule PRA) = for auto 138, for CMBS 152, for RMBS 270. ................................ ........... -------------------------------------------------------------------------------------------------------------------------------------------------------- * For RMBS transactions, the sponsors will also incur an external cost in connection with securing a third-party due diligence report on compliance with 360.6(b)(2)(ii)(B). This cost is estimated to be $500,000 per transaction. General Description of Collection: To facilitate better ongoing evaluation of the quality of lending by banks and to reduce risks to the Deposit Insurance Fund from the opaque securitization structures and the poorly underwritten loans that led to the onset of the recent financial crisis, insured depository institutions must require compliance with certain disclosure and other requirements (including compliance with the U.S. Securities and Exchange Commission (SEC) Regulation AB) for securitizations (other than grandfathered transactions) as a prerequisite for the transfer of financial assets by an insured depository institution in connection with a securitization transaction to be eligible for the benefits provided by Part 360.6 of the FDIC's Regulations. Requirements for safe harbor treatment of loan participations are also set forth. There is no change to the FDIC's Part 360.6. The change in hourly burden and initial start-up costs are mostly attributed to the SEC's changes to Regulation AB in its September 24, 2014 final rule. 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. Dated at Washington, DC, this 22nd day of November 2017. Federal Deposit Insurance Corporation Valerie J. Best, Assistant Executive Secretary. [FR Doc. 2017-25638 Filed 11-27-17; 8:45 am] BILLING CODE 6714-01-P
![56240 Federal Register / Vol. 82, No. 227 / Tuesday, November 28, 2017 / Notices
Services and Speech-to-Speech Services Officer (DFO). The NANC meeting is (202) 863–2898, or via the Internet at
for Individuals with Hearing and Speech open to the public. The FCC will http://www.bcpiweb.com. It is available
Disabilities, CG Docket No. 03–123, accommodate as many attendees as on the Commission’s Web site at http://
Declaratory Ruling, 72 FR 6960, possible; however, admittance will be www.fcc.gov.
February 14, 2007, granting a request for limited to seating availability. The Federal Communications Commission.
clarification that Internet Protocol (IP) Commission will also provide audio
Marilyn Jones,
captioned telephone relay service (IP coverage of the meeting. Other
Senior Counsel for Number Administration,
CTS) is a type of TRS eligible for reasonable accommodations for people
Wireline Competition Bureau.
compensation from the Fund. with disabilities are available upon
[FR Doc. 2017–25633 Filed 11–27–17; 8:45 am]
On August 26, 2013, the Commission request. Request for such
accommodations should be submitted BILLING CODE 6712–01–P
issued Misuse of Internet Protocol (IP)
Captioned Telephone Service; via email to fcc504@fcc.gov or by calling
Telecommunications Relay Services and the Consumer and governmental Affairs
Speech-to-Speech Services for Bureau @(202) 418–0530 (voice) (202) FEDERAL DEPOSIT INSURANCE
Individuals with Hearing and Speech 418–0432 (TTY). Such requests should CORPORATION
Disabilities, CG Docket Nos. 13–24 and include a detailed description of the
03–123, Report and Order, 78 FR 53684, accommodation needed. In addition, Agency Information Collection
August 30, 2013, to regulate practices please allow at least five days advance Activities: Proposed Collection
relating to the marketing of IP CTS, notice for accommodation requests; last Renewal; Comment Request (OMB No.
impose certain requirements for the minute requests will be accepted but 3064–0177)
provision of this service, and mandate may not be possible to accommodate.
AGENCY: Federal Deposit Insurance
registration and certification of IP CTS Members of the public may submit
Corporation (FDIC).
users. comments to the NANC in the FCC’s
Electronic Comment Filing System, ACTION: Notice and request for comment.
This notice and request for comments
pertains to the extension of the ECFS, at www.fcc.gov/ecfs. Comments to SUMMARY: The FDIC, as part of its
currently approved information the NANC should be filed in CC Docket
continuing effort to reduce paperwork
collection requirements for one-line and No. 92–237.
and respondent burden, invites the
two-line captioned telephone service More information about the NANC is
available at https://www.fcc.gov/about- general public and other Federal
(CTS) and Internet Protocol captioned agencies to take this opportunity to
telephone service (IP CTS) rules and fcc/advisory-committees/general/north-
american-numbering-council. comment on the renewal of the existing
update the estimates of existing burdens information collection, as required by
that were included in the January 2015 DATES: Thursday, December 7, 2017,
the Paperwork Reduction Act of 1995.
Paperwork Reduction Act (PRA) 9:30 a.m.
Currently, the FDIC is soliciting
submission to the Office of Management ADDRESSES: Requests to make an oral comment on renewal of the information
and Budget (OMB). statement or provide written comments collection described below.
Federal Communications Commission. to the NANC should be sent to Carmell
DATES: Comments must be submitted on
Weathers, Competition Policy Division,
Marlene H. Dortch, Wireline Competition Bureau, Federal or before January 29, 2018.
Secretary. Office of the Secretary. Communications Commission, Portals ADDRESSES: Interested parties are
[FR Doc. 2017–25675 Filed 11–27–17; 8:45 am] II, 445 12th Street SW., Room 5–C162, invited to submit written comments to
BILLING CODE 6712–01–P Washington, DC 20554. the FDIC by any of the following
FOR FURTHER INFORMATION CONTACT: methods:
Marilyn Jones, NANC DFO, at • http://www.FDIC.gov/regulations/
FEDERAL COMMUNICATIONS marilyn.jones@fcc.gov, or (202) 418– laws/federal/notices.html.
COMMISSION 2357, Michelle Sclater, Alternate DFO, • Email: comments@fdic.gov. Include
at michelle.sclater@fcc.gov, or (202) the name and number of the collection
[CC Docket No. 92–237; DA 17–1123]
418–0388; or Carmell Weathers, Special in the subject line of the message.
Next Meeting of the North American Assistant to the DFO, at • Mail: Jennifer Jones (202–898–
Numbering Council carmell.weathers@fcc.gov, or (202) 418– 6768), Counsel, MB–3105, Federal
2325. The fax number is: (202) 418– Deposit Insurance Corporation, 550 17th
AGENCY: Federal Communications Street NW., Washington, DC 20429.
1413. The TTY number is: (202) 418–
Commission.
0484. • Hand Delivery: Comments may be
ACTION: Notice. hand-delivered to the guard station at
SUPPLEMENTARY INFORMATION: This is a
the rear of the 17th Street Building
SUMMARY: In this document, the summary of the Commission’s (located on F Street), on business days
Commission released a public notice document in CC Docket No. 92–237, DA between 7:00 a.m. and 5:00 p.m.
announcing the meeting and agenda of 17–1123 released November 20, 2017. All comments should refer to the
the North American Numbering Council The complete text in this document is relevant OMB control number. A copy
(NANC). The primary agenda of this available for public inspection and of the comments may also be submitted
meeting will be to introduce members of copying during normal business hours to the OMB desk officer for the FDIC:
the Committees, set out initial in the FCC Reference Information Office of Information and Regulatory
assignments, and provide more Center, Portals II, 445 12th Street SW., Affairs, Office of Management and
ethrower on DSK3G9T082PROD with NOTICES
information about the Working Groups. Room CY–A257, Washington, DC 20554. Budget, New Executive Office Building,
The NANC will also begin discussing The document may also be purchased Washington, DC 20503.
how to modernize and foster more from the Commission’s duplicating
FOR FURTHER INFORMATION CONTACT:
efficient number administration in the contractor, Best Copy and Printing, Inc.,
United States. The agenda may be 445 12th Street SW., Room CY–B402, Jennifer Jones, at the FDIC address
modified at the discretion of the NANC Washington, DC 20554, telephone (800) above.
Chair and the Designated Federal 378–3160 or (202) 863–2893, facsimile SUPPLEMENTARY INFORMATION:
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![Federal Register / Vol. 82, No. 227 / Tuesday, November 28, 2017 / Notices 56241
Proposal To Renew the Following Insured Depository Institution in Affected Public: Insured Depository
Currently Approved Collections of Connection With a Securitization or Institutions.
Information Participation After September 30, 2010. Burden Estimate:
1. Title: Conservator or Receiver of OMB Number: 3064–0177.
Financial Assets Transferred by an Form Number: None.
SUMMARY OF ANNUAL BURDEN AND INTERNAL COST
[3064–0177]
Estimated
number of
Estimated responses Estimated Total annual
Estimated Frequency
Type of burden number of (average time per estimated
frequency of response
respondents number of response burden
trans-
actions)
Disclosures:
360.6(b)(2)(i)(A), (D) Ongoing.
Private Transactions Non Reg AB Compli- Disclosure ............. 19 1.895 37 12.0 Monthly ............ 15,984
ant.
360.6(b)(2)(i)(D) ................................................. Disclosure ............. 35 1.971 3 1.0 On Occasion ... 207
360.6(b)(2)(ii)(B) Initial/One-Time ..................... Disclosure ............. 1 6.000 1 1.0 On Occasion ... 6
360.6(b)(2)(ii)(C ) ............................................... Disclosure ............. 1 6.000 1 1.0 On Occasion ... 6
Total Disclosure Burden ..................... ............................... .................... .................... .................... .................... ......................... 16,203
Recordkeeping:
360.6(c)(7) ......................................................... Recordkeeping ..... 35 1.971 1 1.0 On Occasion ... 69
Total Recordkeeping Burden ..................... ............................... .................... .................... .................... .................... ......................... 69
TotalB Burden ....................................... ............................... .................... .................... .................... .................... ......................... 16,272
SUMMARY OF CAPITAL/START-UP COSTS
[3064–0177]
360.6(b)(2)(i)(A), (B)—Initial/One-Time—Capital/Start-Up Costs— Total cost of
Estimated
# of sponsors that have never done a registered transaction Estimated annual
hours per Total start
in particular asset class since November 23, 2016— number of Cost per hour estimated
respondent up hours
effective date for compliance with new Reg AB—and prior to respondents burden
[(a + b) * c]
doing a private transaction (Internal)
Private Transactions—Auto ............................................................. Disclosure ..... 1 2,760 2,760 $250 ......................... $690,000
Private Transactions—CMBS .......................................................... Disclosure ..... 17 3,040 51,680 250 ........................... $12,920,000
Private Transactions—RMBS * ........................................................ Disclosure ..... 1 5,400 5,400 250 ........................... $1,350,000
Total .......................................................................................... ....................... .................... .................... .................... .................................. $14,960,000
(a) Existing systems and procedures for each required data point for all three asset classes = 10 ................................................ # of respondents ...... 19
(b) The number of hours required to adjust systems to provide asset level data in XML format for each required data point = 10 cost/respondent ....... $787,368.42
(c) Estimated number of data points (per SEC Reg AB Rule PRA) = for auto 138, for CMBS 152, for RMBS 270 ....................... .................................. ....................
* For RMBS transactions, the sponsors will also incur an external cost in connection with securing a third-party due diligence report on compliance with
360.6(b)(2)(ii)(B). This cost is estimated to be $500,000 per transaction.
General Description of Collection: To for safe harbor treatment of loan collected; and (d) ways to minimize the
facilitate better ongoing evaluation of participations are also set forth. burden of the collection of information
the quality of lending by banks and to There is no change to the FDIC’s Part on respondents, including through the
reduce risks to the Deposit Insurance 360.6. The change in hourly burden and use of automated collection techniques
Fund from the opaque securitization initial start-up costs are mostly or other forms of information
structures and the poorly underwritten attributed to the SEC’s changes to technology. All comments will become
loans that led to the onset of the recent Regulation AB in its September 24, 2014 a matter of public record.
financial crisis, insured depository final rule.
Dated at Washington, DC, this 22nd day of
institutions must require compliance
Request for Comment November 2017. Federal Deposit Insurance
with certain disclosure and other
Corporation
requirements (including compliance Comments are invited on: (a) Whether
with the U.S. Securities and Exchange Valerie J. Best,
the collection of information is
Commission (SEC) Regulation AB) for necessary for the proper performance of Assistant Executive Secretary.
securitizations (other than the FDIC’s functions, including whether [FR Doc. 2017–25638 Filed 11–27–17; 8:45 am]
ethrower on DSK3G9T082PROD with NOTICES
grandfathered transactions) as a the information has practical utility; (b) BILLING CODE 6714–01–P
prerequisite for the transfer of financial the accuracy of the estimates of the
assets by an insured depository burden of the information collection,
institution in connection with a including the validity of the
securitization transaction to be eligible methodology and assumptions used; (c)
for the benefits provided by Part 360.6 ways to enhance the quality, utility, and
of the FDIC’s Regulations. Requirements clarity of the information to be
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Document Created: 2017-11-28 01:50:44
Document Modified: 2017-11-28 01:50:44
| 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 January 29, 2018. | |
| FR Citation | 82 FR 56240 |
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