83 FR 42119 - Agency Information Collection Activities: Proposed Collection Renewal; Comment Request (OMB No. 3064-021; and -0135)

FEDERAL DEPOSIT INSURANCE CORPORATION

Federal Register Volume 83, Issue 161 (August 20, 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 existing information collections, as required by the Paperwork Reduction Act of 1995 (PRA). Currently, the FDIC is soliciting comment on renewal of the information collections described below.

[Federal Register Volume 83, Number 161 (Monday, August 20, 2018)]
[Notices]
[Pages 42119-42121]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-17915]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewal; Comment Request (OMB No. 3064-021; and -0135)

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to take this opportunity to comment on the renewal of existing 
information collections, as required by the Paperwork Reduction Act of 
1995 (PRA). Currently, the FDIC is soliciting comment on renewal of the 
information collections described below.

DATES: Comments must be submitted on or before October 19, 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 (202-898-3767), Counsel, MB-3007, 
Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, 
DC 20429.
     Hand Delivery: Comments may be hand-delivered to the guard 
station at the rear of the 17th Street Building (located on F Street), 
on business days between 7:00 a.m. and 5:00 p.m.
All comments should refer to the appropriate OMB control number 
referenced in the Supplementary Information section below. 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

[[Page 42120]]

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: Certification of Compliance with Mandatory Bars to 
Employment.
    OMB Number: 3064-0121.
    Form Number: 2120/16.
    Affected Public: Individuals seeking employment from the FDIC.
    Burden Estimate:

                                                                Summary of Annual Burden
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                                                                     Estimated                                                             Total annual
                                            Type of burden           number of        Estimated time per         Frequency of response       estimated
                                                                    respondents            response                                        burden hours
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Form 2120/16.......................  Reporting..................             500  10 minutes................  On Occasion...............              83
                                    --------------------------------------------------------------------------------------------------------------------
    Total estimated annual burden..  ...........................  ..............  ..........................  ..........................              83
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    General Description of Collection: There has been no change in the 
method or substance of this information collection. The change in 
estimates annual burden is due to a decrease in estimated number of new 
hires from an annual average of 600 in 2015 to an annual average of 500 
currently. This information collection arises from the reporting 
requirements contained in 12 CFR part 336, subpart B, of the FDIC Rules 
and Regulations entitled ``Minimum Standards of Fitness for Employment 
with the Federal Deposit Insurance Corporation''. This rule implements 
Section 19 of the Resolution Trust Corporation Completion Act 
(Completion Act), Public Law 103-204, by (among other things) 
prescribing a certification, with attachments in some cases, relating 
to job applicants' fitness and integrity. More specifically, the 
statute provides that the FDIC shall issue regulations implementing 
provisions that prohibit any person from becoming employed by the FDIC 
who has been convicted of any felony; has been removed from, or 
prohibited from participating in the affairs of, any insured depository 
institution pursuant to any final enforcement action by any appropriate 
federal banking agency; has demonstrated a pattern or practice of 
defalcation regarding obligations to insured depository institutions; 
or has caused a substantial loss to federal deposit insurance funds. 
This collection of information implements these mandatory bars to 
employment through a certification, signed by job applicants prior to 
an offer of employment using form 2120/16.
    2. Title: Purchaser Eligibility Certification.
    OMB Number: 3064-0135.
    Form Number: 7300-06
    Affected Public: Individuals and entities wishing to purchase 
receivership assets from the FDIC.
    Burden Estimate: There has been no change in the method or 
substance of this information collection. The Subject Matter Experts 
(SMEs) from the FDIC's Division of Resolutions and Receiverships have 
estimated that this information collection will affect 600 respondents 
annually for the next three years. This estimate is unchanged from 
2015. The SMEs reached this estimate by calculating the average number 
of Purchaser Eligibility Certifications (PECs) completed in the past 
three years and rounding up.
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    \1\ SMEs within the FDIC's Division of Resolutions and 
Receiverships (DRR) compiled this information by contacting the 
managers that handle each asset sales category (structured 
transactions, cash loan sales, other real estate sales, and 
securities sales).

               Purchaser Eligibility Certifications (PECs)
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                                                               Number of
                             Year                               PECs \1\
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2015.........................................................        952
2016.........................................................        468
2017.........................................................        369
                                                              ----------
  Total......................................................      1,789
Three-year average...........................................     596.33
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    The number of PECs completed each year has been declining since 
2009. If this trend were to continue, the number of respondents would 
be expected to continue to decrease from 369 over the next three years, 
which would imply that the estimated number of respondents should be 
lower for this collection compared to the one in 2015. The SMEs have 
acknowledged that 600 respondents may be a conservative estimate, but 
also believe that it is reasonable. This rationale stems from the fact 
that the current rate of bank failures is very low. The SMEs also point 
out that the PECs are collected from prospective purchasers and not 
just the winning bidders. As a result, the annual number of PECs could 
increase if there is an increase in the demand for the assets the FDIC 
sells, even if the number of assets for sale decreases in line with the 
current trend of diminishing bank failures.
    The estimated hourly burden for this information collection is 30 
minutes per PEC form. The SMEs have arrived at this estimate through 
their personal observations of individuals completing these forms at 
open-outcry auction events. The table below contains estimates for the 
total estimated reporting burden for this information collection.

                                            Summary of Annual Burden
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                                                                                                       Total
                                                     Estimated       Estimated    Estimated time     estimated
                                 Type of burden      number of     frequency of    per response    annual burden
                                                    respondents      responses         (hrs)           (hrs)
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Purchaser Eligibility           Reporting.......             600               1            0.50          300.00
 Certification.
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[[Page 42121]]

Request for Comment

    Comments are invited on: (a) Whether the collections of information 
are necessary for the proper performance of the FDIC's functions, 
including whether the information has practical utility; (b) the 
accuracy of the estimates of the burdens of the information 
collections, including the validity of the methodology and assumptions 
used; (c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (d) ways to minimize the burden of the 
collections of information on respondents, including through the use of 
automated collection techniques or other forms of information 
technology. All comments will become a matter of public record.

    Dated at Washington, DC, on August 15, 2018.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2018-17915 Filed 8-17-18; 8:45 am]
 BILLING CODE 6714-01-P