[Federal Register Volume 83, Number 41 (Thursday, March 1, 2018)]
[Notices]
[Pages 8867-8870]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-04136]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Proposed Collection
Revisions; 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 continuing effort to reduce paperwork
and respondent burden, invites the general public and other federal
agencies to take this opportunity to comment on the three-year
extension, with revisions, of existing information collections, as
required by the Paperwork Reduction Act of 1995. Currently, the FDIC is
soliciting comment on extension and revisions of the information
collections described below.
DATES: Comments must be submitted on or before April 30, 2018.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC by any of the following methods:
https://www.FDIC.gov/regulations/laws/federal.
Email: [email protected]. Please include the name and OMB
control number of the relevant information collection in the subject
line of the message.
Mail: Manny Cabeza, Counsel, Room 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 relevant OMB control number.
Written comments and/or suggestions can also be directed to the Office
of Management and Budget, Office of Information and Regulatory Affairs,
attention FDIC Desk Officer, New Executive Office Building, Washington,
DC 20503 or sent to [email protected].
FOR FURTHER INFORMATION CONTACT: If you have additional comments,
particularly with respect to the estimated public burden or associated
response time, have suggestions, need a copy of any proposed
information collection instrument and instructions, or desire any other
additional information, please contact Manny Cabeza, Counsel, FDIC
Legal Division, either by mail at Room MB-3007, Federal Deposit
Insurance Corporation, 550 17th Street NW, Washington, DC 20429; by
email at [email protected]; or by telephone at (202) 898-3767.
SUPPLEMENTARY INFORMATION: Written comments and suggestions from the
public and affected agencies concerning the proposed collection of
information are encouraged. All comments received will become a matter
of public record. Your comments should address one or more of the
following four points:
--Evaluate whether the proposed collection of information is necessary
for the proper performance of the functions of the agency, including
whether the information has practical utility;
--Evaluate the accuracy of the agency's estimate of the burden of the
proposed information collection, including the validity of the
methodology and assumptions used;
--Evaluate whether and if so, how, the quality, utility, and clarity of
the information to be collected can be enhanced; and
--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.
[[Page 8868]]
Overview of the Information Collection Requests. The FDIC proposes
to implement a number of revisions to currently-approved information
collections, based on the recommendations of an interagency working
group comprised of representatives from the FDIC, the Board of
Governors of the Federal Reserve System, and the Office of the
Comptroller of the Currency, who collaborated to recommend the proposed
changes. The proposed changes are being made to: (a) Improve the
clarity of the requests; (b) reflect new laws, regulations, capital
requirements and accounting rules; (c) delete information requests that
have been determined to be unnecessary for the analysis of the filing;
and (d) add transparency for filers regarding the information that is
required to consider a filing. In determining which changes to propose,
the FDIC surveyed its regional offices to solicit recommendations for
changes to the forms and considered the effects of the changes on
community bank organizations, which represent the majority of filers.
Although the revisions add items to these forms, the FDIC believes that
some of these additions are related to information typically requested
on a follow-up basis. Requesting the information up-front should
increase transparency for filers as well as improve the efficiency of
the submission and review process.
The FDIC is proposing to revise and request a three-year extension
of the following currently-approved collections of information:
1. Title: Interagency Biographical and Financial Report.
OMB Number: 3064-0006.
Type: Revision of a currently approved collection.
Form: Interagency Biographical and Financial Report.
Form Number: 6200/06.
Affected Public: Individuals or households; business or other for
profit; Insured state nonmember banks and state savings associations.
Estimated Number of Annual Respondents: 574.
Estimated Time per Response: 4.5 hours.
Frequency of Response: On occasion.
Estimated Total Annual Burden: 2,583 hours.
General Description of Collection: The Interagency Biographical and
Financial Report is submitted to the FDIC by: (1) Each individual
director, officer, or individual or group of shareholders acting in
concert that will own or control 10 percent or more, of a proposed or
operating depository institution applying for FDIC deposit insurance;
(2) a person proposing to acquire control of an insured state nonmember
bank, state savings association (FDIC-supervised institution) and
certain parent companies of such entities; (3) each proposed new
director or proposed new chief executive officer of an FDIC-supervised
institution which has undergone a change in control within the
preceding twelve months; and (4) each proposed new director or senior
executive officer of an FDIC-supervised institution that is not in
compliance with all minimum capital requirements, is in troubled
condition, or otherwise is required to provide such notice. The
information collected is used by the FDIC to evaluate the general
character and financial condition of individuals who will be involved
in the management or control of financial institutions, as required by
statute. In order to lessen the burden on applicants, the FDIC
cooperates with the other federal banking agencies to the maximum
extent possible in processing the various applications.
Proposed Revisions: The proposed changes for the Interagency
Biographical and Financial Report include additional requested items
relating to information that generally was previously requested as
supplemental information subsequent to the filing of the initial
application; clarification of exact requirements of certain requests;
deletion of certain requested items that the FDIC no longer believes
are helpful in evaluating the notice; and other minor changes for
improved grammar, comprehension, and accurate citations and mailing
addresses. Because a filer may require some additional time to
incorporate supplemental documentation, particularly in connection with
the requested description of pending legal and related matters, the
FDIC estimates that the proposed revisions will result in an additional
half an hour of reporting burden for each filer. Accordingly, the
estimated time per response is being increased from 4 hours to 4.5
hours. The proposed revised ``Interagency Biographical and Financial
Report'' form and a redlined version highlighting the proposed
revisions from the currently-approved form may be reviewed by the
public at https://www.FDIC.gov/regulations/laws/federal.
2. Title: Interagency Bank Merger Act Application.
OMB Number: 3064-0015.
Type: Revision of a currently approved collection.
Form: Interagency Bank Merger Act Application.
Form Number: 6220/01.
Affected Public: Individuals or households; business or other for
profit.
Estimated Burden
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Number of Total
annual Frequency of response Hours per estimated
respondents response annual hours
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Affiliate.......................... 134 On Occasion................ 19 2,546
Nonaffiliate....................... 162 On Occasion................ 31 5,022
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Total.......................... 296 ........................... .............. 7,568
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General Description of Collection: The Interagency Bank Merger Act
Application form is used by the FDIC, the Board of Governors of the
Federal Reserve System, and the Office of the Comptroller of the
Currency for applications under section 18(c) of the Federal Deposit
Insurance Act (FDIA), as amended (12 U.S.C. 1828(c)). The application
is used for a merger, consolidation, or other combining transaction
between nonaffiliated parties as well as to effect a corporate
reorganization between affiliated parties (affiliate transaction). An
affiliate transaction refers to a merger transaction or other business
combination (including a purchase and assumption) between institutions
that are commonly controlled (for example, between a depository
institution and an affiliated interim institution). There are different
levels of burden for nonaffiliate and affiliate transactions.
Applicants proposing affiliate transactions are required to provide
less information than applicants involved in
[[Page 8869]]
the merger of two unaffiliated entities. If depository institutions are
not controlled by the same holding company, the merger transaction is
considered a nonaffiliate transaction.
Proposed Revisions: The proposed changes to the Interagency Bank
Merger Act Application form include additional items relating to
information that was previously requested as supplemental information
subsequent to the filing of the initial application; clarification of
certain requested items related to biographical and financial
information for principals and to Community Reinvestment Act-related
information; deletion of the request for cash flow projections for the
parent company; updated requests to account for statutory
considerations related to the effect of a transaction on the stability
of the United States financial system, changes to capital requirements
and accounting rules; and other minor changes to improve grammar and
readability, provide accurate citations to authority, and update
mailing addresses. As a result of the revisions described above,
applicants may need to provide additional financial information,
describe pending litigation and investigations, and summarize the
effects of a proposed transaction on financial stability. For this
reason, the FDIC estimates that the proposed revisions will result in
an additional hour of burden for each applicant. Accordingly, the
estimated times per response are being increased from 18 to 19 hours
for affiliate transactions and 30 to 31 hours for nonaffiliate
transactions. The proposed revised ``Interagency Bank Merger Act
Application'' form and a redlined version highlighting the proposed
revisions from the currently-approved form may be reviewed by the
public at https://www.FDIC.gov/regulations/laws/federal.
3. Title: Interagency Notice of Change in Control.
OMB Number: 3064-0019.
Type: Revision of a currently approved collection.
Form: Interagency Notice of Change in Control.
Form Number: 6822/01.
Affected Public: Individuals, insured state nonmember banks, and
insured state savings associations.
Estimated Number of Annual Respondents: 25.
Estimated Time per Response: 30.5 hours.
Frequency of Response: On occasion.
Estimated Total Annual Burden: 763 hours.
General Description of Collection: Section 7(j) of the FDIA (Change
in Bank Control Act of 1978, 12 U.S.C. 1817(j)) and sections 303.80-88
of the FDIC Rules and Regulations (12 CFR 303.80 et seq.) require that
any person proposing to acquire control of an insured depository
institution and certain parent companies thereof provide 60 days prior
written notice of the proposed acquisition to the appropriate federal
banking agency. Such written notice which pertains to the acquisition
of control of an FDIC-supervised institution and certain parent
companies thereof is filed with the regional director of the FDIC
region in which the bank is located. The FDIC reviews the information
reported in the Notice to assess, in part, any anticompetitive and
monopolistic effects of the proposed acquisition, to determine if the
financial condition of any acquiring person or the future prospects of
the institution might jeopardize the financial stability of the
institution or prejudice the interests of the depositors of the
institution, and to determine whether the competence, experience, or
integrity of any acquiring person, or of any of the proposed management
personnel, indicates that it would not be in the interest of the
depositors of the institution, or in the interest of the public, to
permit such persons to control the bank. The FDIC must also make an
independent determination of the accuracy and completeness of all of
the information required to be filed in conjunction with a Notice.
Proposed Revisions: The proposed changes for the Interagency Notice
of Change in Control form include additional requested items relating
to information that generally was previously requested as supplemental
information subsequent to the filing of the initial application;
clarification of exact requirements of certain requests; deletion of
certain requested items that the FDIC no longer believes are helpful in
evaluating the Notice; and other minor changes for improved grammar,
comprehension, and accurate citations and mailing addresses. Because
certain applicants may need additional time to complete the requested
breakdowns of voting and nonvoting securities, and stock options and
warrants that were previously requested by the agencies later in the
process, and to include a narrative description of the proposed
transaction, the FDIC estimates that the proposed revisions would
require an additional half an hour of burden for each respondent.
Accordingly, the estimated time per response is being increased from 30
hours to 30.5 hours. The proposed revised ``Interagency Notice of
Change in Control'' form and a redlined version highlighting the
proposed revisions from the currently-approved form may be reviewed by
the public at https://www.FDIC.gov/regulations/laws/federal.
4. Title: Interagency Notice of Change in Director or Senior
Executive Officer.
OMB Number: 3064-0097.
Type: Revision of a currently approved collection.
Form: Interagency Notice of Change in Director or Senior Executive
Officer.
Form Number: 6822/02.
Affected Public: Insured state nonmember banks and state savings
associations.
Estimated Number of Annual Respondents: 325.
Estimated Time per Response: 2 hours.
Frequency of Response: On occasion.
Estimated Total Annual Burden: 650 hours.
General Description of Collection: Section 32 of the FDIA (12
U.S.C. 1831i) requires an insured depository institution or depository
institution holding company under certain circumstances to notify the
appropriate federal banking agency of the proposed addition of any
individual to the board of directors or the employment of any
individual as a senior executive officer of such institution at least
30 days before such addition or employment becomes effective. Section
32 of the FDIA also provides that the FDIC may disapprove an
individual's service as a director or senior executive officer of
certain state nonmember banks or state savings associations if, upon
assessing the individual's competence, experience, character, and
integrity, it is determined that the individual's service would not be
in the best interest of the depositors of the institution or the
public. The Interagency Notice of Change in Director or Senior
Executive Officer, with the information contained in the Interagency
Biographical and Financial Report (described above) as an attachment,
is used by the FDIC to collect information relevant to assess the
individual's competence, experience, character, and integrity.
Proposed Revisions: The proposed changes for the Interagency Notice
of Change in Director or Senior Executive Officer form include
clarifications of existing information requested and exceptions to the
extent they may be relied upon by applicants; deletion of certain
formerly requested items that are no longer needed to evaluate the
notice; and other minor changes for improved grammar, comprehension,
and accurate citations and mailing addresses. The FDIC believes these
revisions will not change the estimated time per response.
[[Page 8870]]
The proposed revised Interagency Notice of Change in Director or Senior
Executive Officer form and a redlined version highlighting the proposed
revisions from the currently-approved form may be reviewed by the
public at https://www.FDIC.gov/regulations/laws/federal.
Dated at Washington, DC, on February 23, 2018.
Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2018-04136 Filed 2-28-18; 8:45 am]
BILLING CODE 6714-01-P