[Federal Register Volume 74, Number 197 (Wednesday, October 14, 2009)]
[Proposed Rules]
[Pages 52697-52698]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-24822]
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Proposed Rules
Federal Register
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This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.
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Federal Register / Vol. 74, No. 197 / Wednesday, October 14, 2009 /
Proposed Rules
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FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Part 327
RIN 3064-AD09
Assessments: Paperwork Reduction Act Notice
AGENCY: Federal Deposit Insurance Corporation.
ACTION: Notice of proposed rulemaking; supplemental notice.
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SUMMARY: On October 2, 2009, the Federal Deposit Insurance Corporation
(FDIC) issued a notice of proposed rulemaking with request for comments
to amend its assessment regulations to require insured institutions to
prepay, on December 30, 2009, their estimated quarterly risk-based
assessments for the fourth quarter of 2009, and for all of 2010, 2011,
and 2012. The FDIC would begin to offset prepaid assessments on March
30, 2010, representing payment for the fourth quarter of 2009 (see 74
FR 51063 (Oct. 2, 2009)). The FDIC is supplementing that notice of
proposed rulemaking with a Paperwork Reduction Act analysis and seeking
comment on the Paperwork Reduction Act implications of the proposed
rule.
DATES: Comments on the Paperwork Reduction Act implications of the
FDIC's Prepaid Assessments proposal must be received on or before
October 28, 2009.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC concerning the Paperwork Reduction Act implications of this
proposal. Such comments should refer to ``Exemption Request and
Transfer Notification, 3064-AD49''. Comments may be submitted by any of
the following methods:
Agency Web Site: http://www.fdic.gov/regulations/laws/federal/propose.html. Follow instructions for submitting comments on
the Agency Web Site.
E-mail: Comments@FDIC.gov. Include ``Exemption Request and
Transfer Notification, 3064-AD49'' in the subject line of the message.
Mail: Robert E. Feldman, Executive Secretary, Attention:
PRA Comments, Federal Deposit Insurance Corporation, 550 17th Street,
NW., Washington, DC 20429.
Hand Delivery/Courier: Guard station at the rear of the
550 17th Street Building (located on F Street) on business days between
7 a.m. and 5 p.m.
All comments received will be posted without change to http://www.fdic.gov/regulations/laws/federal/propose.html including any
personal information provided. 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: Christopher Bellotto, Counsel, Legal
Division, (202) 898-3801.
SUPPLEMENTARY INFORMATION: In accordance with the Paperwork Reduction
Act (44 U.S.C. 3501 et seq.) the FDIC may not conduct or sponsor, and a
person is not required to respond to, a collection of information
unless it displays a currently valid Office of Management and Budget
(OMB) control number. The collection of information contained in this
proposed rule is being submitted to OMB for review.
Comment is solicited on:
(1) Whether the proposed collection of information is necessary for
the proper performance of the functions of the agency, including
whether the information will have practical utility;
(2) The accuracy of the agency's estimate of the burden of the
proposed collection of information, including the validity of the
methodology and assumptions used;
(3) The quality, utility, and clarity of the information to be
collected;
(4) Ways to minimize the burden of the collection of information on
those who are to respond, including through the use of appropriate
automated, electronic, mechanical, or other technological collection
techniques or other forms of information technology; e.g., permitting
electronic submission of responses; and
(5) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchases of services to provide information.
Summary of the collections: (1) An information collection would
occur when an insured depository institution applies to the FDIC for an
exemption from all or part of its assessment prepayment; the
application would explain why the prepayment would significantly impair
the institution's liquidity, or would otherwise create significant
hardship, would contain a full explanation of the need for the
exemption and include supporting documentation, such as current
financial statements and cash flow projections, a description of
management's plans to correct the circumstances that caused the
inability to pay the assessment, and any other relevant information,
including any information the FDIC may request. (2) An information
collection would occur when an insured depository institution enters
into an agreement to transfer any portion of its prepaid assessment to
another insured depository institution, and notifies the FDIC's
Division of Finance of that transaction by submitting a written
agreement signed by the legal representatives of both institutions,
including documentation that each representative has the legal
authority to bind the institution.
1. Application for Exemption
Need and Use of the Information: Exemption requests would
supplement the FDIC's exercise of its discretion as supervisor and
insurer to exempt an institution from the prepayment requirement if the
FDIC determines that the prepayment would adversely affect the safety
and soundness of that institution.
Respondents: Insured depository institutions.
Number of responses: 30-200 by the December 1, 2009 deadline.
Frequency of response: Once.
Average number of hours to prepare a response: 8 hours.
Total annual burden: 240-1,600 hours for one-time exemption
request.
2. Transfer of Prepaid Assessments
Need and use of the information: Institutions would be required to
notify the FDIC of the transfer of prepaid assessments so that the FDIC
can accurately track these transfers, and apply available prepaid
assessments appropriately against institutions' deposit insurance
assessments. The need for credit transfer information
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would expire when the prepaid assessments have been exhausted or when
remaining prepaid assessments are returned to the institution after
December 30, 2014.
Respondents: Insured depository institutions.
Number of responses: 75 during the first year; 25 the second year
and 10 in the final year.
Frequency of response: Occasional.
Average number of hours to prepare a response: 2 hours.
Total annual burden: 150 hours the first year; 50 hours the second
year; and 20 hours in the third year.
By order of the Board of Directors.
Dated at Washington, DC, this 9th day of October 2009.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. E9-24822 Filed 10-9-09; 4:15 pm]
BILLING CODE 6714-01-P