[Federal Register Volume 83, Number 85 (Wednesday, May 2, 2018)]
[Notices]
[Pages 19284-19285]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-09325]
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FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0124]
Agency Information Collection Activities: Proposed Collection
Renewal; 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 renewal of an
existing information collection, as required by the Paperwork Reduction
Act of 1995 (PRA). Currently, the FDIC is soliciting comment on renewal
of the information collection described below.
DATES: Comments must be submitted on or before July 2, 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.
[[Page 19285]]
Email: [email protected]. Include the name and number of
the collection in the subject line of the message.
Mail: Manny Cabeza (202-898-3767), Counsel, 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 OMB control number 3064-0124. 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: Manny Cabeza, Counsel, 202-898-3767,
[email protected], MB-3007, Federal Deposit Insurance Corporation, 550
17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION: Proposal to renew the following currently
approved collection of information:
Title: Notification of Change of Insured Status.
OMB Number: 3064-0124.
Form Number: None.
Affected Public: Insured depository institutions.
Burden Estimate:
Summary of Annual Burden
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Average total
Estimated Estimated time annual
Type of burden Obligation to respond number of per response Frequency of response estimated
respondents (hours) burden (hours)
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Certification...................... Reporting............ Mandatory............ 150 .25 On Occasion.......... 37.5
Notification....................... Disclosure........... Mandatory............ 2 1 On Occasion.......... 3
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Total Estimated Annual Burden.. ..................... ..................... .............. .............. ..................... 39.5
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General Description of Collection: This information collection
consists of two parts: (1) A certification that insured depository
institutions provide the FDIC when all deposit liabilities from one
insured depository institution are assumed from another insured
depository institution, with the latter institution responsible for
providing the certification; and (2) a notification that an insured
depository institution provides to its depositors when it seeks to
voluntarily terminate its insured status. The certification is
necessary to implement the provisions of section 8(q) of the Federal
Deposit Insurance Act, 12 U.S.C. 1818(q), regarding termination of the
insured status of the transferring institution and termination of the
separate deposit insurance coverage provided on deposit accounts
assumed by the assuming institution. The depositor notification is
required by section 8(a)(6) of the Federal Deposit Insurance Act, 12
U.S.C. 1818(a)(6). This provision ensures that the institution's
depositors receive appropriate information regarding the institution's
intent to terminate its insured status and that, prior to the
termination of the institution's insured status, depositors receive
appropriate information concerning federal deposit insurance coverage
of their accounts once the institution's insured status is terminated.
There is no change in the methodology or substance of this
information collection. The number of certifications submitted under
this information collection is closely related to the number of insured
depository institutions that are acquired by another depository
institution through mergers or as a result of the closing of the
institution by its chartering authority. The number of depositor
notifications is driven by the number of institutions that elect to
voluntarily terminate its insured status without having its deposits
assumed by another insured depository institution. The change in burden
is due to economic fluctuation reflected in a lower number of
certifications following mergers or closures and a reduction in the
number of notifications due to voluntary terminations of insured
status.
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 April 27, 2018.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2018-09325 Filed 5-1-18; 8:45 am]
BILLING CODE 6714-01-P