83 FR 10850 - Agency Information Collection Activities: Submission for OMB Review; Comment Request (OMB No. 3064-0022 and -0027)

FEDERAL DEPOSIT INSURANCE CORPORATION

Federal Register Volume 83, Issue 49 (March 13, 2018)

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. On December 28, 2017, the FDIC requested comment for 60 days on a proposal to renew the information collections described below. One comment was received and was generally supportive of the requirements in the rule but did not address the paperwork burden for this information collection. 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.

[Federal Register Volume 83, Number 49 (Tuesday, March 13, 2018)]
[Notices]
[Pages 10850-10852]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-04957]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request (OMB No. 3064-0022 and -0027)

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 the 
existing information collection, as required by the Paperwork Reduction 
Act of 1995. On December 28, 2017, the FDIC requested comment for 60 
days on a proposal to renew the information collections described 
below. One comment was received and was generally supportive of the 
requirements in the rule but did not address the paperwork burden for 
this information collection. 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 April 12, 2018.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     https://www.FDIC.gov/regulations/laws/federal.
     Email: [email protected]. Include the name and number of 
the collection in the subject line of the message.
     Mail: Manny Cabeza, Counsel, Room 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

[[Page 10851]]

Affairs, Office of Management and Budget, New Executive Office 
Building, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Manny Cabeza, at the FDIC address 
above.

SUPPLEMENTARY INFORMATION: On December 28, 2017, the FDIC requested 
comment for 60 days on a proposal to renew the information collections 
described below. One comment was received and was generally supportive 
of the requirements in the rule but did not address the paperwork 
burden for this information collection. The FDIC hereby gives notice of 
its plan to submit to OMB a request to approve the renewal of this 
collection, and again invites comment on this renewal.
    Proposal to renew the following currently approved collections of 
information:
    1. Title: Uniform Application and Termination Notice for Municipal 
Securities Principal or Representative Associated with a Bank Municipal 
Securities Dealer.
    OMB Number: 3064-0022.
    Form Number: MSD-4 and MSD-5
    Affected Public: Individuals and Insured state nonmember banks and 
state savings associations.
    Burden Estimate:

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                                                                                                                                            Estimated
        Source and burden type             Number of            Annual frequency         Total responses    Average time per response     annual burden
                                          respondents                                                                                        (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Form MSD-4 Reporting..................                2  On Occasion...................                2  60 Minutes...................                2
Form MSD-5 Reporting..................                2  On Occasion...................                2  15 Minutes...................              0.5
--------------------------------------------------------------------------------------------------------------------------------------------------------

    Total Estimated Annual Burden: 2.5 Hours.
    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 reporting frequency and the estimated time per response 
remain the same.
    General Description of Collection: The 1975 Amendments to the 
Securities Exchange Act of 1934 established a comprehensive framework 
for the regulation of the activities of municipal securities dealers. 
Under Section 15B(a) of the Securities Exchange Act, municipal 
securities dealers which are banks, or separately identifiable 
departments or divisions of banks engaging in municipal securities 
activities, are required to be registered with the Securities and 
Exchange Commission in accordance with such rules as the Municipal 
Securities Rulemaking Board (MSRB), a rulemaking authority established 
by the 1975 Amendments, may prescribe as necessary or appropriate in 
the public interest or for the protection of investors.
    One of the areas in which the Act directed the MSRB to promulgate 
rules is the qualifications of persons associated with municipal 
securities dealers as municipal securities principals and municipal 
securities representatives. The MSRB Rules require persons who are or 
seek to be associated with municipal securities dealers as municipal 
securities principals or municipal securities representatives to 
provide certain background information and conversely, require the 
municipal securities dealers to obtain the information from such 
persons. Generally, the information required to be furnished relates to 
employment history and professional background including any 
disciplinary sanctions and any claimed bases for exemption from MSRB 
examination requirements.
    The FDIC and the other two Federal bank regulatory agencies, the 
Comptroller of the Currency, and the Federal Reserve Board, have 
prescribed Forms MSD-4 to satisfy these requirements and have 
prescribed Form MSD-5 for notification by a bank municipal securities 
dealer that a municipal securities principal's or a municipal 
securities representative's association with the dealer has terminated 
and the reason for such termination. State nonmember banks and state 
savings associations that are municipal security dealers submit these 
forms, as applicable, to the FDIC as their appropriate regulatory 
agency for each person associated with the dealer as a municipal 
securities principal or municipal securities representative.
    2. Title: Request for Deregistration for Registered Transfer 
Agents.
    OMB Number: 3064-0027.
    Form Number: 6342/12.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

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                                                                                                                                            Estimated
            Source and burden type                Number of                Annual frequency                 Total         Average time    annual burden
                                                 respondents                                              responses       per response       (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Form 6342/12 Reporting.......................                1  On Occasion..........................                1             0.42             0.42
--------------------------------------------------------------------------------------------------------------------------------------------------------

    There is no change in the method or substance of the collection. 
There is an overall reduction in burden hours which is the result of 
(1) economic fluctuation reflected by a decrease in the number of FDIC-
supervised institutions and (2) a decrease in the number of requests 
for deregistration of a registered transfer agent forms submitted to 
the FDIC.
    General Description of Collection: Under the Securities Exchange 
Act of 1934 (15 U.S.C. 78q-1), an insured nonmember bank (or a 
subsidiary of such a bank) that functions as a transfer agent may 
withdraw from registration as a transfer agent by filing a written 
notice of withdrawal with the FDIC. The FDIC requires such banks to 
file FDIC Form 6342/12 as the written notice of withdrawal.

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

[[Page 10852]]

technology. All comments will become a matter of public record.

    Dated at Washington, DC, on March 7, 2018.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2018-04957 Filed 3-12-18; 8:45 am]
 BILLING CODE 6714-01-P