83 FR 18841 - Agency Information Collection Activities: Proposed Collection Renewal; Comment Request

FEDERAL DEPOSIT INSURANCE CORPORATION

Federal Register Volume 83, Issue 83 (April 30, 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 an existing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). Currently, the FDIC is soliciting comment on renewal of the information collection described below.

[Federal Register Volume 83, Number 83 (Monday, April 30, 2018)]
[Notices]
[Pages 18841-18842]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-09014]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0109]


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request

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 an 
existing information collection, as required by the Paperwork Reduction 
Act of 1995 (PRA). Currently, the FDIC is soliciting comment on renewal 
of the information collection described below.

DATES: Comments must be submitted on or before June 29, 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 (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 OMB control number 3064-0109. 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, Counsel, 202-898-3767, 
[email protected], MB-3007, Federal Deposit Insurance Corporation, 550 
17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION: 
    Proposal to renew the following currently approved collection of 
information:
    Title: Notice of Branch Closure.
    OMB Number: 3064-0109.
    Form Number: None.
    Affected Public: Insured depository institutions.
    Burden Estimate:

                                                                Summary of Annual Burden
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                                                                                                                                               Average
                                                                                                      Estimated                                 total
                                                                                         Estimated     time per                                 annual
                                         Type of burden        Obligation to respond     number of     response     Frequency of response     estimated
                                                                                        respondents    (hours)                                  burden
                                                                                                                                               (hours)
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Adoption of Closure Policy.........  Recordkeeping.........  Mandatory................           23            8  One time.................          184
Notice of Closure..................  Disclosure............  Mandatory................          683            2  One time.................        1,366
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    Total Estimated Annual Burden..  ......................  .........................  ...........  ...........  .........................        1,550
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    General Description of Collection: Section 42 of the Federal 
Deposit Insurance Act mandates that an insured depository institution 
closing a branch notify its primary federal regulator not later than 90 
days prior to the closing. The statute also provides that a notice be 
posted on the premises of the branch for the 30-day period immediately 
prior to the closing and that the customers be notified in a mailing at 
least 90 days prior to the closing. Each insured depository institution 
that has one or more branches is required to adopt a written policy for 
branch closings.
    Burden Estimate Methodology and Assumptions: There are no changes 
in the methodology or substance of this information collection. FDIC 
believes that the existing estimate of the time required to develop a 
written branch closure policy and to provide the required branch 
closure notices is accurate. The number of branch closure notifications 
is closely related to the number of branches closed, while the number 
of closure policy adoptions equals the number newly chartered branch 
banking institutions and the number of existing banking institutions 
that transition from having no branches to having at least one branch. 
To derive an estimate of average annual branch closure notifications, 
FDIC Risk Management Supervision (RMS) staff counted the number of 
full-service standalone and in-store branches that closed between 2015 
and 2017. In addition, FDIC staff count the number of

[[Page 18842]]

newly chartered branch banking institutions and the number of 
institutions that transitioned from having no branches to having at 
least one branch. FDIC records reflect that there were 683 branch 
closures, on average, each year between 2015 and 2017. FDIC estimates 
that an average of 23 institutions each year will transition from 
having no branches to having at least one branch.

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, on April 25, 2018.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2018-09014 Filed 4-27-18; 8:45 am]
 BILLING CODE 6714-01-P