[Federal Register Volume 83, Number 92 (Friday, May 11, 2018)]
[Notices]
[Pages 22061-22064]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-10093]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Proposed Collection
Renewal; Comment Request (OMB No. 3064-0006; -0015; -0019; and -0097)
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 the
existing
[[Page 22062]]
information collection, as required by the Paperwork Reduction Act of
1995. On March 1, 2018, 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 these renewals.
DATES: Comments must be submitted on or before June 11, 2018.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC by any of the following methods:
Agency Website: https://www.FDIC.gov/regulations/laws/federal. Follow the instructions for submitting comments on the FDIC
website.
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 the applicable 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: Manny Cabeza, Counsel, 202-898-3767,
[email protected], MB-3007, Federal Deposit Insurance Corporation, 550
17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION: 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. The revisions add items to
these forms to clarify the information being requested to avoid the
need for follow-up requests. 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:
[[Page 22063]]
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 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 (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.
[[Page 22064]]
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. 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.
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 May 8, 2018.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2018-10093 Filed 5-10-18; 8:45 am]
BILLING CODE 6714-01-P