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Agency Information Collection Activities: Proposed Collection Renewal; Comment Request (3064-0169)

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 o...

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Federal Deposit Insurance Corporation

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

DATES:

Comments must be submitted on or before May 23, 2016.

( printed page 15707)

ADDRESSES:

Interested parties are invited to submit written comments to the FDIC by any of the following methods:

  • http://www.FDIC.gov/​regulations/​laws/​federal/​.
  • Email: . Include the name and number of the collection in the subject line of the message.
  • Mail: Gary A. Kuiper (202.898.3877), Counsel, MB-3016 or Manuel E. Cabeza (202.898.3767), 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 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:

Gary Kuiper or Manuel Cabeza, at the FDIC address above.

SUPPLEMENTARY INFORMATION:

Proposal to renew the following currently-approved collection of information:

Title: Qualifications for Failed Bank Acquisitions.

OMB Number: 3064-0169.

Form Numbers: None.

Affected Public: Private sector and insured state nonmember banks and savings associations.

Burden Estimate:

  Number of respondents Average hours per response Responses per year Total hours
Investor Reports on Affiliates (reporting burden) 20 2 12 480
Maintenance of Business Books (record keeping burden) 5 2 4 40
Disclosures Regarding Investors and Entities in Ownership Chain (reporting burden) 20 4 4 >320
Total Burden Hours 840

General Description: The FDIC's policy statement on Qualifications for Failed Bank Acquisitions provides guidance to private capital investors interested in acquiring or investing in failed insured depository institutions regarding the terms and conditions for such investments or acquisitions. The information collected pursuant to the policy statement allows the FDIC to evaluate, among other things, whether such investors (and their related interests) could negatively impact the Deposit Insurance Fund, increase resolution costs, or operate in a manner that conflict with statutory safety and soundness principles and compliance requirements.

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 collection of information, 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, this 21st day of March 2016.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Executive Secretary.

[FR Doc. 2016-06648 Filed 3-23-16; 8:45 am]

BILLING CODE 6714-01-P

Legal Citation

Federal Register Citation

Use this for formal legal and research references to the published document.

81 FR 15706

Web Citation

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“Agency Information Collection Activities: Proposed Collection Renewal; Comment Request (3064-0169),” thefederalregister.org (March 24, 2016), https://thefederalregister.org/documents/2016-06648/agency-information-collection-activities-proposed-collection-renewal-comment-request-3064-0169.