[Federal Register Volume 81, Number 108 (Monday, June 6, 2016)]
[Notices]
[Pages 36305-36306]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-13235]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Submission for OMB
Review; Comment Request (3064-0169)
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 an
existing information collection, as required by the Paperwork Reduction
Act of 1995. On January 5, 2016, (81 FR 239), the FDIC requested
comment for 60 days on a proposal to renew the information collections
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
these collections, and again invites comment on this renewal.
DATES: Comments must be submitted on or before July 6, 2016.
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: [email protected] Include the name of the
collection in the subject line of the message.
Mail: Gary A. Kuiper (202.898.3877), Counsel, Room MB-
3016, or Manny Cabeza, (202.898.3767), Counsel, Room 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 A. Kuiper or Manny Cabeza, at the
FDIC address above.
SUPPLEMENTARY INFORMATION:
Proposal to renew the following currently-approved collections of
information:
1. Title: Qualifications for Failed Bank Acquisitions.
OMB Number: 3064-0169.
Form Numbers: None.
Affected Public: Private sector, insured state nonmember banks and
state savings associations.
Estimated Burden
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No. of Average hours Responses per
respondents per response year Total hours
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Investor Reports on Affiliates (reporting 10 2 12 240
burden)........................................
Maintenance of Business Books (record keeping 3 2 4 24
burden)........................................
Disclosures Regarding Investors and Entities in 10 4 4 160
Ownership Chain (reporting burden).............
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Total Burden Hours.......................... .............. .............. .............. 424
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[[Page 36306]]
General Description: Among other things, the Federal Deposit
Insurance Act (FDIA) sets forth the duties and responsibilities of the
FDIC in providing for and maintaining a system of deposit insurance for
the nation's insured depository institutions and in resolving troubled
insured depository institutions in a manner that presents the least
cost to the Deposit Insurance Fund. Section 6 of the FDIA sets forth a
number of factors to be considered before an institution is permitted
by the FDIC to obtain federal deposit insurance. Among these factors
are the financial history of the institution; the adequacy of the
institution's capital structure; the further earnings prospects; the
convenience and needs of the community; the institution's corporate
powers, and, not insignificantly, the risk presented to the Deposit
Insurance Fund. (Similarly, provisions of the Change in Bank Control
Act, found in section 7 of the FDIA, permit the FDIC--or another
appropriate federal banking agency--to refuse to permit a proposed
change in bank control if the proposed transaction would result in an
adverse effect on the Deposit Insurance Fund.) Section 8 of the FDIA
authorizes the FDIC to assess the safety and soundness of the
practices, operations, and conditions of insured depository
institutions, and permits the FDIC to terminate deposit insurance or to
take other appropriate actions if the institution operates in an unsafe
and unsound manner. Finally, section 13 of the FDIA authorizes the FDIC
to resolve troubled insured depository institutions and to dispose of
the assets of such institutions using the method that is least costly
to the Deposit Insurance Fund, maximizes the return from the sale of
such assets, and minimizes any loss to the Deposit Insurance Fund.
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 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 information
collection 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 1st day of June, 2016.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016-13235 Filed 6-3-16; 8:45 am]
BILLING CODE 6714-01-P