83_FR_40195 83 FR 40039 - Agency Information Collection Activities: Submission for OMB Review; Comment Request

83 FR 40039 - Agency Information Collection Activities: Submission for OMB Review; Comment Request

FEDERAL DEPOSIT INSURANCE CORPORATION

Federal Register Volume 83, Issue 156 (August 13, 2018)

Page Range40039-40041
FR Document2018-17264

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. The FDIC published a notice of its intent to renew the information collections described below in the Federal Register and requested comment for 60 days. 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 the renewal.

Federal Register, Volume 83 Issue 156 (Monday, August 13, 2018)
[Federal Register Volume 83, Number 156 (Monday, August 13, 2018)]
[Notices]
[Pages 40039-40041]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-17264]



[[Page 40039]]

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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0165, 0183, and -0196]


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

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. The FDIC published a notice of its intent to renew the 
information collections described below in the Federal Register and 
requested comment for 60 days. 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 the 
renewal.

DATES: Comments must be submitted on or before September 12, 2018.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     Agency Website: 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 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 collections of 
information:
    1. Title: Interagency Supervisory Guidance for the Supervisory 
Review Process of Capital Adequacy (Pillar 2) Related to the 
Implementation of the Basel II Advanced Capital Framework.
    OMB Number: 3064-0165.
    Form Number: None.
    Affected Public: Insured state nonmember banks and certain 
subsidiaries of these entities.
    Burden Estimate:

                                                                Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                    Estimated                                                              Total annual
                                            Type of burden          number of    Estimated time per response     Frequency of response       estimated
                                                                   respondents                                                             burden hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
Pillar 2 Guidance....................  Record Keeping..........               2  105 hours..................  Quarterly.................             840
                                                                ----------------------------------------------------------------------------------------
    Total Estimated Annual Burden....  ........................  ..............  ...........................  ..........................             840
--------------------------------------------------------------------------------------------------------------------------------------------------------

    General Description of Collection: There has been no change in the 
method or substance of this information collection. The number of 
institutions subject to the record keeping requirements has decreased 
from eight (8) to two (2). In 2008 the Office of the Comptroller of the 
Currency, the Board of Governors of the Federal Reserve System and the 
FDIC issued a supervisory guidance document related to the supervisory 
review process of capital adequacy (Pillar 2) in connection with the 
implementation of the Basel II Advanced Capital Framework.\1\ Sections 
37, 41, 43 and 46 of the guidance include possible information 
collections. Section 37 provides that banks should state clearly the 
definition of capital used in any aspect of its internal capital 
adequacy assessment process (ICAAP) and document any changes in the 
internal definition of capital. Section 41 provides that banks should 
maintain thorough documentation of its ICAAP. Section 43 specifies that 
the board of directors should approve the bank's ICAAP, review it on a 
regular basis and approve any changes. Section 46 recommends that 
boards of directors periodically review the assessment of overall 
capital adequacy and analyze how measures of internal capital adequacy 
compare with other capital measures such as regulatory or accounting.
---------------------------------------------------------------------------

    \1\ 73 FR 44620 (July 31, 2008).
---------------------------------------------------------------------------

    2. Title: Credit Risk Retention.
    OMB Number: 3064-0183.
    Form Number: None.
    Affected Public: Insured state non-member banks; insured state 
branches of foreign banks; state savings associations; and certain 
subsidiaries of these entities.
    Burden Estimate:

                                            Summary of Annual Burden
----------------------------------------------------------------------------------------------------------------
                                                                                         Estimated    Estimated
                                                               Estimated    Estimated     average       annual
                                                               number of      annual     hours per      burden
                                                               offerings    frequency     response      hours
----------------------------------------------------------------------------------------------------------------
                                                Disclosure Burden
----------------------------------------------------------------------------------------------------------------
Subpart B:
    Sec.   373.4 Standard Risk Retention--Horizontal                    1            1          5.5          5.5
     Interest...............................................
    Sec.   373.4 Standard Risk Retention--Vertical Interest.           40            1          2.0           80
    Sec.   373.4 Standard Risk Retention--Combined Interest.            4            1          7.5           30
    Sec.   373.5 Revolving Master Trusts....................           15            1          7.0          105

[[Page 40040]]

 
    Sec.   373.6 Eligible ABCP Conduits.....................           15            1          3.0           45
    Sec.   373.7 Commercial MBS.............................           15            1        20.75       311.25
    Sec.   373.8 FNMA and FHLMC.............................           15            1          1.5         22.5
    Sec.   373.9 Open Market CLOs...........................           15            1        20.25       303.75
    Sec.   373.10 Qualified Tender Option Bonds.............           15            1          6.0           90
Subpart C:
    Sec.   373.11 Allocation of Risk Retention to an                    3            1          2.5          7.5
     Originator.............................................
Subpart D:
    Sec.   373.13 and .19(g) Exemption for Qualified                   13            1         1.25        16.25
     Residential Mortgages..................................
    Sec.   373.15 Exemption for Qualifying Commercial Loans,           16            1         20.0          320
     Commercial Real Estate and Automobile Loans............
    Sec.   373.16 Underwriting Standards for Qualifying                 6            1         1.25          7.5
     Commercial Loans.......................................
    Sec.   373.17 Underwriting Standards for Qualifying CRE             6            1         1.25          7.5
     Loans..................................................
    Sec.   373.18 Underwriting Standards for Qualifying                 6            1         1.25          7.5
     Automobile Loans.......................................
                                                             ---------------------------------------------------
        Total Estimated Disclosure Burden...................  ...........  ...........  ...........     1,359.25
----------------------------------------------------------------------------------------------------------------
                                              Recordkeeping Burden
----------------------------------------------------------------------------------------------------------------
Subpart B:
    Sec.   373.4 Standard Risk Retention--Horizontal                    1            1          0.5          0.5
     Interest...............................................
    Sec.   373.4 Standard Risk Retention--Vertical Interest.           40            1          0.5           20
    Sec.   373.4 Standard Risk Retention--Combined Interest.            4            1          0.5            2
    Sec.   373.5 Revolving Master Trusts....................           15            1          0.5          7.5
    Sec.   373.6 Eligible ABCP Conduits.....................           15            1         20.0          300
    Sec.   373.7 Commercial MBS.............................           15            1         30.0          450
Subpart C:
    Sec.   373.11 Allocation of Risk Retention to an                    3            1         20.0           60
     Originator.............................................
Subpart D:
    Sec.   373.13 and .19(g) Exemption for Qualified                   13            1         40.0          520
     Residential Mortgages..................................
    Sec.   373.15 Exemption for Qualifying Commercial Loans,           16            1          0.5            8
     Commercial Real Estate and Automobile Loans............
    Sec.   373.16 Underwriting Standards for Qualifying                 6            1         40.0          240
     Commercial Loans.......................................
    Sec.   373.17 Underwriting Standards for Qualifying CRE             6            1         40.0          240
     Loans..................................................
    Sec.   373.18 Underwriting Standards for Qualifying                 6            1          400          240
     Automobile Loans.......................................
                                                             ---------------------------------------------------
        Total Estimated Recordkeeping Burden................  ...........  ...........  ...........        2,088
                                                             ---------------------------------------------------
            Total Estimated Annual Burden...................  ...........  ...........  ...........     3,447.25
----------------------------------------------------------------------------------------------------------------

    There has been no change in the method or substance of this 
information collection. The above burden estimate is derived from the 
Federal regulatory agencies' estimate that there are currently 
approximately 1,400 annual offerings subject to the Credit Risk 
Retention rule (12 CFR part 373).\2\
---------------------------------------------------------------------------

    \2\ The methodology and assumptions used to estimate burden are 
explained in detail in the agencies' supporting statements for their 
respective Credit Risk Retention information collections. For 
example, see, FDIC (3064-0183) available at https://www.reginfo.gov/public/do/PRAViewDocument?ref_nbr=201501-3064-002 SEC (3235-0712) 
available at https://www.reginfo.gov/public/do/PRAViewDocument?ref_nbr=201803-3235-014 and the OCC 1557-0249) 
available at https://www.reginfo.gov/public/do/PRAViewDocument?ref_nbr=201804-1557-004.
---------------------------------------------------------------------------

    General Description of Collection: This information collection 
request relates to the disclosure and recordkeeping requirements of 12 
CFR part 373 (the Credit Risk Retention Rule) which implements section 
15G of the Securities Exchange Act of 1934,\3\ added by section 941 of 
the Dodd-Frank Wall Street Reform and Consumer Protection Act \4\ 
(Section 941). The Credit Risk Retention Rule was jointly issued by the 
Federal Deposit Insurance Corporation (``FDIC''), the Office of the 
Comptroller of the Currency (``OCC''), the Federal Reserve Board 
(``Board''), the Securities and Exchange Commission (``Commission'') 
and, with respect to the portions of the Rule addressing the 
securitization of residential mortgages, the Federal Housing Finance 
Agency (``FHFA'') and the Department of Housing and Urban Development 
(``HUD'').
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78o-11.
    \4\ Public Law 111-2-3, 124 Stat. 1376 (2010).
---------------------------------------------------------------------------

    Section 941 requires the Board, the FDIC, the OCC (collectively, 
the ``Federal banking agencies''), the Commission and, in the case of 
the securitization of any ``residential mortgage asset,'' together with 
HUD and FHFA, to jointly prescribe regulations that (i) require a 
securitizer to retain not less than five percent of the credit risk of 
any asset that the securitizer, through the issuance of an asset-backed 
security (``ABS''), transfers, sells or conveys to a third party, and 
(ii) prohibit a securitizer from directly or indirectly hedging or 
otherwise transferring the credit risk that the securitizer is required 
to retain under section 941 and the agencies' implementing rules.
    The Credit Risk Retention Rule provides a menu of credit risk 
retention options from which securitizers can choose and sets out the 
standards, including disclosure and recordkeeping requirements, for 
each option; identifies the eligibility criteria, including 
certification and disclosure requirements, that must be met for asset-
backed securities (ABS) offerings to qualify for certain exemptions; 
specifies the underwriting standards for

[[Page 40041]]

commercial real estate (CRE) loans, commercial loans and automobile 
loans, as well as disclosure, certification and recordkeeping 
requirements, that must be met for ABS issuances collateralized by such 
loans to qualify for reduced credit risk retention; and sets forth the 
circumstances under which retention obligations may be allocated by 
sponsors to originators, including disclosure and monitoring 
requirements.
    The recordkeeping requirements relate primarily to (i) the adoption 
and maintenance of various policies and procedures to ensure and 
monitor compliance with regulatory requirements and (ii) 
certifications, including as to the effectiveness of internal 
supervisory controls. The required disclosures for each risk retention 
option are intended to provide investors with material information 
concerning the sponsor's retained interest in a securitization 
transaction (e.g., the amount, form and nature of the retained 
interest, material assumptions and methodology, representations and 
warranties). The agencies believe that the disclosure and recordkeeping 
requirements will enhance market discipline, help ensure the quality of 
the assets underlying a securitization, and assist investors in 
evaluating transactions.
    3. Title: Disclosure Requirements Associated with the Supplementary 
Leverage Ratio.
    OMB Number: 3064-0196.
    Form Number: None.
    Affected Public: Insured state nonmember banks and state savings 
associations that are subject to the FDIC's advanced approaches risk-
based capital rules.
    Burden Estimate:

                                                                Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                    Estimated                                                              Total Annual
                                            Type of burden          number of    Estimated time per response     Frequency of response       estimated
                                                                   respondents                                                             burden hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
12 CFR 324.172 and 173...............  Disclosure..............               2  5 hours....................  Quarterly.................              40
                                                                ----------------------------------------------------------------------------------------
    Total Estimated Annual Burden....  ........................  ..............  ...........................  ..........................              40
--------------------------------------------------------------------------------------------------------------------------------------------------------

    There has been no change in the method or substance of this 
information collection. The number of institutions subject to the 
disclosure requirements has decreased from eight (8) to two (2).
    General Description of Collection: The supplementary leverage ratio 
regulations strengthen the definition of total leverage exposure and 
improve the measure of a banking organization's on- and off-balance 
sheet exposures. The rules are generally consistent with the Basel 
Committee on Banking Supervision's 2014 revisions and promote 
consistency in the calculation of this ratio across jurisdictions. All 
banking organizations that are subject to the advanced approaches risk-
based capital rules\5\ are required to disclose their supplementary 
leverage ratios.\6\ Advanced approaches banking organizations must 
report their supplementary leverage ratios on the applicable regulatory 
reports. The calculation and disclosure requirements for the 
supplementary leverage ratio in the federal banking agencies' 
regulatory capital rules are generally consistent with international 
standards published by the Basel Committee on Banking Supervision. 
These disclosures enhance the transparency and consistency of reporting 
requirements for the supplementary leverage ratio by all 
internationally active organizations.
---------------------------------------------------------------------------

    \5\ 12 CFR 324.100(b)(1).
    \6\ 12 CFR 324.10(c), 324.172(d), and 324.173.
---------------------------------------------------------------------------

    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 August 8, 2018.
Robert E. Feldman,
Executive Secretary, Federal Deposit Insurance Corporation.
[FR Doc. 2018-17264 Filed 8-10-18; 8:45 am]
 BILLING CODE 6714-01-P



                                                                                    Federal Register / Vol. 83, No. 156 / Monday, August 13, 2018 / Notices                                                                                               40039

                                                FEDERAL DEPOSIT INSURANCE                                              request to approve the renewal of these                                    to the OMB desk officer for the FDIC:
                                                CORPORATION                                                            collections, and again invites comment                                     Office of Information and Regulatory
                                                                                                                       on the renewal.                                                            Affairs, Office of Management and
                                                [OMB No. 3064–0165, 0183, and –0196]
                                                                                                                       DATES: Comments must be submitted on                                       Budget, New Executive Office Building,
                                                Agency Information Collection                                          or before September 12, 2018.                                              Washington, DC 20503.
                                                Activities: Submission for OMB                                         ADDRESSES: Interested parties are                                          FOR FURTHER INFORMATION CONTACT:
                                                Review; Comment Request                                                invited to submit written comments to                                      Manny Cabeza, Counsel, 202–898–3767,
                                                                                                                       the FDIC by any of the following                                           mcabeza@FDIC.gov, MB–3007, Federal
                                                AGENCY: Federal Deposit Insurance
                                                                                                                       methods:                                                                   Deposit Insurance Corporation, 550 17th
                                                Corporation (FDIC).
                                                                                                                          • Agency Website: https://                                              Street NW, Washington, DC 20429.
                                                ACTION: Notice and request for comment.
                                                                                                                       www.FDIC.gov/regulations/laws/federal.                                     SUPPLEMENTARY INFORMATION:
                                                SUMMARY:   The FDIC, as part of its                                       • Email: comments@fdic.gov. Include                                       Proposal to renew the following
                                                continuing effort to reduce paperwork                                  the name and number of the collection                                      currently approved collections of
                                                and respondent burden, invites the                                     in the subject line of the message.                                        information:
                                                general public and other Federal                                          • Mail: Manny Cabeza, Counsel,
                                                                                                                                                                                                    1. Title: Interagency Supervisory
                                                agencies to take this opportunity to                                   Room MB–3007, Federal Deposit
                                                                                                                                                                                                  Guidance for the Supervisory Review
                                                comment on the renewal of existing                                     Insurance Corporation, 550 17th Street
                                                                                                                                                                                                  Process of Capital Adequacy (Pillar 2)
                                                information collections, as required by                                NW, Washington, DC 20429.
                                                                                                                                                                                                  Related to the Implementation of the
                                                the Paperwork Reduction Act of 1995.                                      • Hand Delivery: Comments may be
                                                                                                                                                                                                  Basel II Advanced Capital Framework.
                                                The FDIC published a notice of its                                     hand-delivered to the guard station at
                                                intent to renew the information                                        the rear of the 17th Street Building                                         OMB Number: 3064–0165.
                                                collections described below in the                                     (located on F Street), on business days                                      Form Number: None.
                                                Federal Register and requested                                         between 7:00 a.m. and 5:00 p.m.                                              Affected Public: Insured state
                                                comment for 60 days. No comments                                          All comments should refer to the                                        nonmember banks and certain
                                                were received. The FDIC hereby gives                                   relevant OMB control number. A copy                                        subsidiaries of these entities.
                                                notice of its plan to submit to OMB a                                  of the comments may also be submitted                                        Burden Estimate:

                                                                                                                             SUMMARY OF ANNUAL BURDEN
                                                                                                                                                                     Estimated                                                                       Total annual
                                                                                                                                                                                              Estimated time              Frequency of
                                                                                                                                Type of burden                       number of                                                                        estimated
                                                                                                                                                                                               per response                 response
                                                                                                                                                                    respondents                                                                      burden hours

                                                Pillar 2 Guidance ..................................................    Record Keeping ............                                     2     105 hours .......          Quarterly ........                   840

                                                      Total Estimated Annual Burden ....................                 .......................................   ........................   ........................   ........................             840



                                                  General Description of Collection:                                   37, 41, 43 and 46 of the guidance                                          that boards of directors periodically
                                                There has been no change in the method                                 include possible information                                               review the assessment of overall capital
                                                or substance of this information                                       collections. Section 37 provides that                                      adequacy and analyze how measures of
                                                collection. The number of institutions                                 banks should state clearly the definition                                  internal capital adequacy compare with
                                                subject to the record keeping                                          of capital used in any aspect of its                                       other capital measures such as
                                                requirements has decreased from eight                                  internal capital adequacy assessment                                       regulatory or accounting.
                                                (8) to two (2). In 2008 the Office of the                              process (ICAAP) and document any                                             2. Title: Credit Risk Retention.
                                                Comptroller of the Currency, the Board                                 changes in the internal definition of                                        OMB Number: 3064–0183.
                                                of Governors of the Federal Reserve                                    capital. Section 41 provides that banks                                      Form Number: None.
                                                System and the FDIC issued a                                           should maintain thorough                                                     Affected Public: Insured state non-
                                                supervisory guidance document related                                  documentation of its ICAAP. Section 43                                     member banks; insured state branches of
                                                to the supervisory review process of                                   specifies that the board of directors                                      foreign banks; state savings associations;
                                                capital adequacy (Pillar 2) in connection                              should approve the bank’s ICAAP,                                           and certain subsidiaries of these
                                                with the implementation of the Basel II                                review it on a regular basis and approve                                   entities.
                                                Advanced Capital Framework.1 Sections                                  any changes. Section 46 recommends                                           Burden Estimate:

                                                                                                                             SUMMARY OF ANNUAL BURDEN
                                                                                                                                                                                                                                  Estimated            Estimated
                                                                                                                                                                                     Estimated              Estimated              average              annual
                                                                                                                                                                                     number of                annual              hours per             burden
                                                                                                                                                                                      offerings             frequency             response               hours

                                                                                                                                          Disclosure Burden
sradovich on DSK3GMQ082PROD with NOTICES




                                                Subpart B:
                                                   § 373.4         Standard Risk Retention—Horizontal Interest ..........................................                                          1                       1                   5.5             5.5
                                                   § 373.4         Standard Risk Retention—Vertical Interest ..............................................                                       40                       1                   2.0             80
                                                   § 373.4         Standard Risk Retention—Combined Interest ..........................................                                            4                       1                   7.5             30
                                                   § 373.5         Revolving Master Trusts ...........................................................................                            15                       1                   7.0            105

                                                  1 73   FR 44620 (July 31, 2008).



                                           VerDate Sep<11>2014       20:42 Aug 10, 2018      Jkt 244001     PO 00000        Frm 00059         Fmt 4703       Sfmt 4703       E:\FR\FM\13AUN1.SGM              13AUN1


                                                40040                              Federal Register / Vol. 83, No. 156 / Monday, August 13, 2018 / Notices

                                                                                                               SUMMARY OF ANNUAL BURDEN—Continued
                                                                                                                                                                                                                       Estimated             Estimated
                                                                                                                                                                         Estimated              Estimated               average               annual
                                                                                                                                                                         number of                annual               hours per              burden
                                                                                                                                                                          offerings             frequency              response                hours

                                                   § 373.6 Eligible ABCP Conduits .............................................................................                         15                      1                 3.0                45
                                                   § 373.7 Commercial MBS ......................................................................................                        15                      1               20.75            311.25
                                                   § 373.8 FNMA and FHLMC ....................................................................................                          15                      1                 1.5              22.5
                                                   § 373.9 Open Market CLOs ...................................................................................                         15                      1               20.25            303.75
                                                   § 373.10 Qualified Tender Option Bonds ...............................................................                               15                      1                 6.0                90
                                                Subpart C:
                                                   § 373.11 Allocation of Risk Retention to an Originator ..........................................                                     3                       1                   2.5            7.5
                                                Subpart D:
                                                   § 373.13 and .19(g) Exemption for Qualified Residential Mortgages ....................                                               13                      1                  1.25           16.25
                                                   § 373.15 Exemption for Qualifying Commercial Loans, Commercial Real Estate
                                                      and Automobile Loans ..........................................................................................                  16                       1                 20.0             320
                                                   § 373.16 Underwriting Standards for Qualifying Commercial Loans .....................                                                6                       1                 1.25             7.5
                                                   § 373.17 Underwriting Standards for Qualifying CRE Loans ................................                                            6                       1                 1.25              7.5
                                                   § 373.18 Underwriting Standards for Qualifying Automobile Loans ......................                                               6                       1                 1.25              7.5

                                                            Total Estimated Disclosure Burden ...................................................................       ....................   ....................   ....................     1,359.25

                                                                                                                                  Recordkeeping Burden

                                                Subpart B:
                                                   § 373.4 Standard Risk Retention—Horizontal Interest ..........................................                                        1                      1                  0.5              0.5
                                                   § 373.4 Standard Risk Retention—Vertical Interest ..............................................                                     40                      1                  0.5              20
                                                   § 373.4 Standard Risk Retention—Combined Interest ..........................................                                          4                      1                  0.5                2
                                                   § 373.5 Revolving Master Trusts ...........................................................................                          15                      1                  0.5              7.5
                                                   § 373.6 Eligible ABCP Conduits .............................................................................                         15                      1                 20.0             300
                                                   § 373.7 Commercial MBS ......................................................................................                        15                      1                 30.0             450
                                                Subpart C:
                                                   § 373.11 Allocation of Risk Retention to an Originator ..........................................                                     3                       1                 20.0             60
                                                Subpart D:
                                                   § 373.13 and .19(g) Exemption for Qualified Residential Mortgages ....................                                               13                      1                  40.0            520
                                                   § 373.15 Exemption for Qualifying Commercial Loans, Commercial Real Estate
                                                      and Automobile Loans ..........................................................................................                  16                       1                  0.5               8
                                                   § 373.16 Underwriting Standards for Qualifying Commercial Loans .....................                                                6                       1                 40.0             240
                                                   § 373.17 Underwriting Standards for Qualifying CRE Loans ................................                                            6                       1                 40.0             240
                                                   § 373.18 Underwriting Standards for Qualifying Automobile Loans ......................                                               6                       1                  400             240

                                                            Total Estimated Recordkeeping Burden ...........................................................            ....................   ....................   ....................        2,088

                                                                  Total Estimated Annual Burden .................................................................       ....................   ....................   ....................     3,447.25



                                                  There has been no change in the                                 Securities Exchange Act of 1934,3 added                               mortgage asset,’’ together with HUD and
                                                method or substance of this information                           by section 941 of the Dodd-Frank Wall                                 FHFA, to jointly prescribe regulations
                                                collection. The above burden estimate is                          Street Reform and Consumer Protection                                 that (i) require a securitizer to retain not
                                                derived from the Federal regulatory                               Act 4 (Section 941). The Credit Risk                                  less than five percent of the credit risk
                                                agencies’ estimate that there are                                 Retention Rule was jointly issued by the                              of any asset that the securitizer, through
                                                currently approximately 1,400 annual                              Federal Deposit Insurance Corporation                                 the issuance of an asset-backed security
                                                offerings subject to the Credit Risk                              (‘‘FDIC’’), the Office of the Comptroller                             (‘‘ABS’’), transfers, sells or conveys to a
                                                Retention rule (12 CFR part 373).2                                of the Currency (‘‘OCC’’), the Federal                                third party, and (ii) prohibit a
                                                  General Description of Collection:                              Reserve Board (‘‘Board’’), the Securities                             securitizer from directly or indirectly
                                                This information collection request                               and Exchange Commission                                               hedging or otherwise transferring the
                                                relates to the disclosure and                                     (‘‘Commission’’) and, with respect to the                             credit risk that the securitizer is
                                                recordkeeping requirements of 12 CFR                              portions of the Rule addressing the                                   required to retain under section 941 and
                                                part 373 (the Credit Risk Retention Rule)                         securitization of residential mortgages,                              the agencies’ implementing rules.
                                                which implements section 15G of the                               the Federal Housing Finance Agency                                       The Credit Risk Retention Rule
                                                                                                                  (‘‘FHFA’’) and the Department of                                      provides a menu of credit risk retention
                                                  2 The methodology and assumptions used to                       Housing and Urban Development                                         options from which securitizers can
                                                estimate burden are explained in detail in the                    (‘‘HUD’’).                                                            choose and sets out the standards,
                                                agencies’ supporting statements for their respective                                                                                    including disclosure and recordkeeping
sradovich on DSK3GMQ082PROD with NOTICES




                                                Credit Risk Retention information collections. For
                                                                                                                     Section 941 requires the Board, the
                                                example, see, FDIC (3064–0183) available at https://              FDIC, the OCC (collectively, the                                      requirements, for each option; identifies
                                                www.reginfo.gov/public/do/PRAView                                 ‘‘Federal banking agencies’’), the                                    the eligibility criteria, including
                                                Document?ref_nbr=201501-3064-002 SEC (3235-                       Commission and, in the case of the                                    certification and disclosure
                                                0712) available at https://www.reginfo.gov/public/                                                                                      requirements, that must be met for asset-
                                                do/PRAViewDocument?ref_nbr=201803-3235-014
                                                                                                                  securitization of any ‘‘residential
                                                and the OCC 1557-0249) available at https://
                                                                                                                                                                                        backed securities (ABS) offerings to
                                                www.reginfo.gov/public/do/PRAView                                    3 15   U.S.C. 78o–11.                                              qualify for certain exemptions; specifies
                                                Document?ref_nbr=201804-1557-004.                                    4 Public   Law 111–2–3, 124 Stat. 1376 (2010).                     the underwriting standards for


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                                                                               Federal Register / Vol. 83, No. 156 / Monday, August 13, 2018 / Notices                                                                                          40041

                                                commercial real estate (CRE) loans,                           compliance with regulatory                                                 discipline, help ensure the quality of the
                                                commercial loans and automobile loans,                        requirements and (ii) certifications,                                      assets underlying a securitization, and
                                                as well as disclosure, certification and                      including as to the effectiveness of                                       assist investors in evaluating
                                                recordkeeping requirements, that must                         internal supervisory controls. The                                         transactions.
                                                be met for ABS issuances collateralized                       required disclosures for each risk                                            3. Title: Disclosure Requirements
                                                by such loans to qualify for reduced                          retention option are intended to provide                                   Associated with the Supplementary
                                                credit risk retention; and sets forth the                     investors with material information                                        Leverage Ratio.
                                                circumstances under which retention                           concerning the sponsor’s retained                                             OMB Number: 3064–0196.
                                                obligations may be allocated by                               interest in a securitization transaction
                                                sponsors to originators, including                                                                                                          Form Number: None.
                                                                                                              (e.g., the amount, form and nature of the                                     Affected Public: Insured state
                                                disclosure and monitoring
                                                                                                              retained interest, material assumptions                                    nonmember banks and state savings
                                                requirements.
                                                  The recordkeeping requirements                              and methodology, representations and                                       associations that are subject to the
                                                relate primarily to (i) the adoption and                      warranties). The agencies believe that                                     FDIC’s advanced approaches risk-based
                                                maintenance of various policies and                           the disclosure and recordkeeping                                           capital rules.
                                                procedures to ensure and monitor                              requirements will enhance market                                              Burden Estimate:
                                                                                                                    SUMMARY OF ANNUAL BURDEN
                                                                                                                                                            Estimated                                                                      Total Annual
                                                                                                                                                                                     Estimated time              Frequency of
                                                                                                                       Type of burden                       number of                                                                       estimated
                                                                                                                                                                                      per response                 response
                                                                                                                                                           respondents                                                                     burden hours

                                                12 CFR 324.172 and 173 ....................................     Disclosure .....................                                2    5 hours ...........        Quarterly ........                   40

                                                     Total Estimated Annual Burden ....................         .......................................   ........................   ........................   ........................             40



                                                  There has been no change in the                             including whether the information has                                      at (202)–523–5793 or tradeanalysis@
                                                method or substance of this information                       practical utility; (b) the accuracy of the                                 fmc.gov.
                                                collection. The number of institutions                        estimates of the burden of the                                                Agreement No.: 012460–002.
                                                subject to the disclosure requirements                        information collection, including the                                         Agreement Name: COSCO Shipping/
                                                has decreased from eight (8) to two (2).                      validity of the methodology and                                            PIL/WHL Vessel Sharing and Slot
                                                  General Description of Collection: The                      assumptions used; (c) ways to enhance                                      Charter Agreement.
                                                supplementary leverage ratio                                  the quality, utility, and clarity of the                                      Parties: COSCO Shipping Lines Co.,
                                                regulations strengthen the definition of                      information to be collected; and (d)                                       Ltd.; Pacific International Lines (PTE)
                                                total leverage exposure and improve the                       ways to minimize the burden of the                                         Ltd.; Wan Hai Lines (Singapore) Pte.
                                                measure of a banking organization’s on-                       collection of information on                                               Ltd.; and Wan Hai Lines Ltd.
                                                and off-balance sheet exposures. The                          respondents, including through the use                                        Filing Party: Eric Jeffrey; Nixon
                                                rules are generally consistent with the                       of automated collection techniques or                                      Peabody.
                                                Basel Committee on Banking                                    other forms of information technology.                                        Synopsis: The amendment changes
                                                Supervision’s 2014 revisions and                              All comments will become a matter of                                       the capacity and port rotation of the
                                                promote consistency in the calculation                        public record.                                                             shared string and updates the slot
                                                of this ratio across jurisdictions. All                                                                                                  exchanges among the Parties.
                                                                                                                Dated at Washington, DC, on August 8,                                       Proposed Effective Date: 8/3/2018.
                                                banking organizations that are subject to                     2018.
                                                the advanced approaches risk-based                                                                                                          Location: https://www2.fmc.gov/
                                                                                                              Robert E. Feldman,                                                         FMC.Agreements.Web/Public/
                                                capital rules5 are required to disclose
                                                their supplementary leverage ratios.6                         Executive Secretary, Federal Deposit                                       AgreementHistory/1948.
                                                                                                              Insurance Corporation.                                                        Agreement No.: 011707–014.
                                                Advanced approaches banking
                                                organizations must report their                               [FR Doc. 2018–17264 Filed 8–10–18; 8:45 am]                                   Agreement Name: Gulf/South
                                                supplementary leverage ratios on the                          BILLING CODE 6714–01–P                                                     America Discussion Agreement.
                                                applicable regulatory reports. The                                                                                                          Parties: BBC Chartering & Logistics
                                                calculation and disclosure requirements                                                                                                  GmbH & Co. KG and BBC Chartering
                                                for the supplementary leverage ratio in                       FEDERAL MARITIME COMMISSION                                                Carriers GmbH & Co. KG (acting as a
                                                the federal banking agencies’ regulatory                                                                                                 single party); Industrial Maritime
                                                capital rules are generally consistent                        Notice of Agreements Filed                                                 Carriers, L.L.C.; and Seaboard Marine
                                                with international standards published                                                                                                   Ltd.
                                                by the Basel Committee on Banking                               The Commission hereby gives notice                                          Filing Party: Wade S. Hooker,
                                                Supervision. These disclosures enhance                        of the filing of the following agreements                                  Attorney.
                                                the transparency and consistency of                           under the Shipping Act of 1984.                                               Synopsis: The amendment deletes
                                                reporting requirements for the                                Interested parties may submit comments                                     Caytrans BBC LLC as a party to the
                                                supplementary leverage ratio by all                           on the agreements to the Secretary by                                      Agreement.
                                                                                                              email at Secretary@fmc.gov, or by mail,                                       Proposed Effective Date: 7/31/2018.
sradovich on DSK3GMQ082PROD with NOTICES




                                                internationally active organizations.
                                                  Request for Comment: Comments are                           Federal Maritime Commission,                                                  Location: https://www2.fmc.gov/
                                                invited on: (a) Whether the collection of                     Washington, DC 20573, within twelve                                        FMC.Agreements.Web/Public/
                                                information is necessary for the proper                       days of the date this notice appears in                                    AgreementHistory/684.
                                                performance of the FDIC’s functions,                          the Federal Register. Copies of the                                           Agreement No.: 201248–001.
                                                                                                              agreements are available through the                                          Agreement Name: COSCO SHIPPING/
                                                  5 12   CFR 324.100(b)(1).                                   Commission’s website (www.fmc.gov) or                                      PIL/WHL Vessel Sharing and Slot
                                                  6 12   CFR 324.10(c), 324.172(d), and 324.173.              by contacting the Office of Agreements                                     Exchange Agreement.


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Document Created: 2018-08-11 00:27:03
Document Modified: 2018-08-11 00:27:03
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for comment.
DatesComments must be submitted on or before September 12, 2018.
ContactManny Cabeza, Counsel, 202-898-3767, [email protected], MB-3007, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429.
FR Citation83 FR 40039 

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