83 FR 46946 - Agency Information Collection Activities: Submission for OMB Review; Comment Request

FEDERAL DEPOSIT INSURANCE CORPORATION

Federal Register Volume 83, Issue 180 (September 17, 2018)

The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995, invites the general public and other Federal agencies to take this opportunity to comment on the renewal of the existing information collection described below (3064-0028). On May 24, 2018, the FDIC requested comment for 60 days on a proposal to renew the information collection described below. No comments were received. The FDIC hereby gives notice of its plan to submit to OMB a request to approve the renewal of this collection, and again invites comment on this renewal.

[Federal Register Volume 83, Number 180 (Monday, September 17, 2018)]
[Notices]
[Pages 46946-46947]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-20125]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[OMB No. 3064-0028]


Agency Information Collection Activities: Submission for OMB 
Review; 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 obligations under the Paperwork 
Reduction Act of 1995, invites the general public and other Federal

[[Page 46947]]

agencies to take this opportunity to comment on the renewal of the 
existing information collection described below (3064-0028). On May 24, 
2018, the FDIC requested comment for 60 days on a proposal to renew the 
information collection described below. No comments were received. The 
FDIC hereby gives notice of its plan to submit to OMB a request to 
approve the renewal of this collection, and again invites comment on 
this renewal.

DATES: Comments must be submitted on or before October 17, 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: Jennifer Jones (202-898-6768), Counsel, MB-3105, 
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 NW 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: Jennifer Jones, Counsel, 202-898-6768, 
[email protected], MB-3105, Federal Deposit Insurance Corporation, 550 
17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION:  On May 24, 2018, the FDIC requested comment 
for 60 days on a proposal to renew the information collection described 
below. No comments were received. The FDIC hereby gives notice of its 
plan to submit to OMB a request to approve the renewal of this 
collection, and again invites comment on this renewal.
    Proposal to renew the following currently approved collection of 
information:
    1. Title: Recordkeeping and Confirmation Requirements for 
Securities Transactions.
    OMB Number: 3064-0028.
    Form Number: None.
    Affected Public: FDIC-Insured Institutions and Certain Employees of 
the FDIC-Insured Institutions.
    Burden Estimate:

                                                                Summary of Annual Burden
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                                                                                              Estimated                                         Total
                                                              Obligation to      Estimated    frequency    Estimated       Frequency of         annual
                                       Type of burden            respond         number of        of        time per         response         estimated
                                                                                respondents   responses     response                            burden
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Recordkeeping and Confirmation      Recordkeeping.......  Mandatory...........          680           12         0.25  Monthly.............        2,040
 Requirements for Securities
 Transactions--344.4.
Maintain Securities Trading         Recordkeeping.......  Mandatory...........          680           12         0.25  Monthly.............        2,040
 Policies and Procedures--344.8.
Provide Customer with Copy of       Third-Party           Mandatory...........          680           12            5  Monthly.............       40,800
 Broker/Dealer Confirmation and      Disclosure.
 Remuneration Received OR Written
 Notification or Alternative
 Notification--344.5 and 344.6.
Officer/Employee Filing of Reports  Third-Party           Mandatory...........        3,400            4         1.50  Quarterly...........       20,400
 of Personal Securities Trading      Disclosure.
 Transactions--344.9 (assumes 5
 officers/employees at each
 institution with income from
 securities broker activity).
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    Total Hourly Burden...........  ....................  ....................  ...........  ...........  ...........  ....................       65,280
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    General Description of Collection:
    The collection of information requirements are contained in 12 CFR 
part 344. The purpose of the regulation is to ensure that purchasers of 
securities in transactions affected by insured state nonmember banks 
are provided with adequate records concerning the transactions. The 
regulation is also designed to ensure that insured state nonmember 
banks maintain adequate records and controls with respect to the 
securities transactions they effect. Finally, this regulation requires 
officers and employees of FDIC-supervised institutions to report to the 
FDIC-supervised institution certain personal securities trading 
activity.
    The FDIC has reviewed its previous submission related to the 
Paperwork Reduction Act of 1995 and has updated its methodology for 
calculating the burden in order to be consistent with the Federal 
Reserve Board and the Office of the Comptroller of the Currency. In 
addition, the FDIC has reviewed and revised its estimated number of 
respondents to ensure that only those institutions with income from 
securities brokerage activity are included its respondent count. The 
overall decrease in burden hours is the result of these changes.

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 September 12, 2018.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2018-20125 Filed 9-14-18; 8:45 am]
 BILLING CODE 6714-01-P