83_FR_42280
Page Range | 42119-42121 | |
FR Document | 2018-17915 |
[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] ----------------------------------------------------------------------- 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. ----------------------------------------------------------------------- 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: comments@fdic.gov. 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, mcabeza@FDIC.gov, 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 -------------------------------------------------------------------------------------------------------------------------------------------------------- Estimated Total annual Type of burden number of Estimated time per Frequency of response estimated respondents response burden hours -------------------------------------------------------------------------------------------------------------------------------------------------------- Form 2120/16....................... Reporting.................. 500 10 minutes................ On Occasion............... 83 -------------------------------------------------------------------------------------------------------------------- Total estimated annual burden.. ........................... .............. .......................... .......................... 83 -------------------------------------------------------------------------------------------------------------------------------------------------------- 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. --------------------------------------------------------------------------- \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) ------------------------------------------------------------------------ Number of Year PECs \1\ ------------------------------------------------------------------------ 2015......................................................... 952 2016......................................................... 468 2017......................................................... 369 ---------- Total...................................................... 1,789 Three-year average........................................... 596.33 ------------------------------------------------------------------------ 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 ---------------------------------------------------------------------------------------------------------------- Total Estimated Estimated Estimated time estimated Type of burden number of frequency of per response annual burden respondents responses (hrs) (hrs) ---------------------------------------------------------------------------------------------------------------- Purchaser Eligibility Reporting....... 600 1 0.50 300.00 Certification. ---------------------------------------------------------------------------------------------------------------- [[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
Category | Regulatory Information | |
Collection | Federal Register | |
sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
Publisher | Office of the Federal Register, National Archives and Records Administration | |
Section | Notices | |
Action | Notice and request for comment. | |
Dates | Comments must be submitted on or before October 19, 2018. | |
Contact | Manny Cabeza, Counsel, 202-898-3767, [email protected], MB-3007, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. | |
FR Citation | 83 FR 42119 |