Notice2021-14502
Agency Information Collection Activities: Proposed Collection Renewal; Comment Request
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
July 8, 2021
Issuing agencies
Federal Deposit Insurance Corporation
Abstract
The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995 (PRA), invites the general public and other Federal agencies to take this opportunity to comment on the renewal of the existing information collections described below (OMB Control No. 3064-0109;-0124;-0137;-0162; and-0196).
Full Text
<html>
<head>
<title>Federal Register, Volume 86 Issue 128 (Thursday, July 8, 2021)</title>
</head>
<body><pre>
[Federal Register Volume 86, Number 128 (Thursday, July 8, 2021)]
[Notices]
[Pages 36137-36141]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-14502]
=======================================================================
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0109;-00124;-0162;-0179; -0196]
Agency Information Collection Activities: Proposed Collection
Renewal; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
[[Page 36138]]
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The FDIC, as part of its obligations under the Paperwork
Reduction Act of 1995 (PRA), invites the general public and other
Federal agencies to take this opportunity to comment on the renewal of
the existing information collections described below (OMB Control No.
3064-0109;-0124;-0137;-0162; and-0196).
DATES: Comments must be submitted on or before September 7, 2021.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC by any of the following methods:
<bullet> Agency Website: <a href="https://www.FDIC.gov/regulations/laws/federal">https://www.FDIC.gov/regulations/laws/federal</a>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#abc8c4c6c6cec5dfd8ebcdcfc2c885ccc4dd"><span class="__cf_email__" data-cfemail="44272b2929212a30370422202d276a232b32">[email protected]</span></a>. Include the name and number of
the collection in the subject line of the message.
<bullet> Mail: Manny Cabeza (202-898-3767), Regulatory Counsel, MB-
3128, Federal Deposit Insurance Corporation, 550 17th Street NW,
Washington, DC 20429.
<bullet> 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: Manny Cabeza, Regulatory Counsel, 202-
898-3767, <a href="/cdn-cgi/l/email-protection#6c010f0d0e09160d2c0a08050f420b031a"><span class="__cf_email__" data-cfemail="f8959b999a9d8299b89e9c919bd69f978e">[email protected]</span></a>, MB-3128, Federal Deposit Insurance
Corporation, 550 17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
Proposal to renew the following currently approved collections of
information:
1. Title: Notice of Branch Closure.
OMB Number: 3064-0109.
Form Number: None.
Affected Public: FDIC-insured depository institutions.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated time Estimated
Information collection description Type of burden Obligation to number of Estimated average per response annual burden
respond respondents frequency of response (hours) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Notice of Branch Closure........... Reporting............ Mandatory............ 178 4.388................ 2 1,562
Adoption of Branch Closure Policy.. Recordkeeping........ Mandatory............ 22 On Occasion.......... 8 176
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total Estimated Annual Burden: 1,738 hours.
General Description of Collection: Section 42 of the Federal
Deposit Insurance Act mandates that an insured depository institution
closing a branch notify its primary federal regulator not later than 90
days prior to the closing. The statute also provides that a notice be
posted on the premises of the branch for the 30-day period immediately
prior to the closing and that the customers be notified in a mailing at
least 90 days prior to the closing. Each insured depository institution
that has one or more branches is required to adopt a written policy for
branch closings.
2. Title: Notification of Changes of Insured Status.
OMB Number: 3064-0124.
Form Number: None.
Affected Public: Insured depository institutions.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated time Estimated
Information collection description Type of burden Obligation to number of Estimated average per response annual burden
respond respondents frequency of response (hours) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Notification of Change in Insured Disclosure........... Mandatory............ 8 On Occasion.......... 2 16
Status.
Certification...................... Reporting............ Mandatory............ 240 On Occasion.......... 1 240
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total Estimated Annual Burden: 256 hours.
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.
3. Title: Large-Bank Deposit Insurance Programs.
OMB Number: 3064-0162.
Form Number: None.
Affected Public: Insured depository institutions having at least $2
billion in deposits and at least either: (a) 250,000 Deposit accounts;
or (b) $20 billion in total assets, regardless of the number of deposit
accounts (a ``covered institution'').
[[Page 36139]]
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated Total annual
Type of burden Obligation to number of frequency of Estimated time Frequency of estimated
respond respondents responses per response response burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Implementation
--------------------------------------------------------------------------------------------------------------------------------------------------------
Posting and removing Recordkeeping.... Mandatory........ 7 1 150 One time......... 1,050
provisional holds--360.9(c)(1)
and (2).
Providing standard data format Recordkeeping.... Mandatory........ 7 1 110 One time......... 770
for deposit account and
customer information--
360.9(d)(1).
Notification of identity of Reporting........ Mandatory........ 7 1 8 One time......... 56
person responsible for
producing standard data
downloads--360.9(c)(3).
Request for exemption from Reporting........ Voluntary........ 1 1 20 On occasion...... 20
provisional hold requirements--
360.9(c)(9).
Provide deposit account and Reporting........ Mandatory........ 7 1 40 On occasion...... 280
customer information in
required standard format--
360.9(d)(3).
Request for extension of Reporting........ Voluntary........ 1 1 20 On occasion...... 20
compliance deadline--
360.9(e)(7).
Request for exemption--360.9(f) Reporting........ Voluntary........ 1 1 20 On occasion...... 20
------------------------------------------------ ---------------
Total Implementation Burden ................. ................. .............. .............. .............. ................. 2,216
--------------------------------------------------------------------------------------------------------------------------------------------------------
Ongoing
--------------------------------------------------------------------------------------------------------------------------------------------------------
Notification of identity of Reporting........ Mandatory........ 126 1 8 One time......... 1,008
person responsible for
producing standard data
downloads--360.9(c)(3).
Request for exemption from Reporting........ Voluntary........ 1 1 20 On occasion...... 20
provisional hold requirements--
360.9(c)(9).
Request for exemption--360.9(f) Reporting........ Voluntary........ 1 1 20 On occasion...... 20
Test compliance with 360.9 (c)-- Reporting........ Mandatory........ 40 1 80 On occasion...... 3,200
(d) pursuant to 360.9(h).
------------------------------------------------ ---------------
Total Ongoing Burden....... ................. ................. .............. .............. .............. ................. 4,248
------------------------------------------------ ---------------
Total Estimated Annual ................. ................. .............. .............. .............. ................. 6,464
Burden.
--------------------------------------------------------------------------------------------------------------------------------------------------------
General Description of Collection: Upon the failure of an FDIC-
insured depository institution, the FDIC is required to pay insured
deposits as soon as possible. To do so, the FDIC must be able to
quickly determine the total insured amount for each depositor. To make
this determination, the FDIC must ascertain the balances of all deposit
accounts owned by the same depositor in the same ownership capacity at
a failed institution as of the day of failure. The FDIC issued a
regulation (12 CFR 360.9) (Section 360.9) to modernize the process of
determining the insurance status of each depositor in the event of
failure of a covered institution. The FDIC requires institutions that
are covered under Section 360.9 to have mechanisms in place that will
automatically place a provisional hold on domestic and foreign deposit
accounts, and sweep and automated credit account arrangements, in the
event that a covered institution is close to failing. A ``provisional
hold'' is defined in 12 CFR Section 360.9(b)(6) as ``an effective
restriction on access to some or all of a deposit or other liability
account after the failure of an insured depository institution.''
Section 360.9 also requires institutions to have in place practices and
procedures for providing the FDIC, in a standard format upon the close
of any day's business, certain data on the accounts and customers of
the institution, and to provide the FDIC with this information upon
request. The purpose of these requirements is to allow the deposit and
other operations of a covered institution to continue functioning on
the day following failure, and to permit the FDIC to fulfill its legal
requirement to promptly provide liquidity to depositors of a failed
institution. This information also helps to ensure equitable treatment
of depositors at different institutions, and helps to preserve the
franchise value of a failed institution, thereby reducing costs to the
FDIC in the event that a covered institution fails.
FDIC-insured depository institutions (IDIs) that are covered by
Section 360.9 are defined in Section 360.9(b)(1) as having at least $2
billion in deposits and either (1) 250,000 or more deposit accounts, or
(2) $20 billion or more in assets, regardless of the number of deposit
accounts. IDIs that meet this criteria for two consecutive quarters
qualify as covered institutions.
This information collection consists of eight distinct reporting
and recordkeeping requirements (ICs) that impose annual burden on
covered institutions. Three of these eight reporting requirements have
an implementation component as well as an ongoing component: (1)
Section 360.9(c)(3) (IC requirements C and H, below) requires covered
institutions to provide certain information to the FDIC both while the
institution is implementing the systems required under 360.9 (IC
requirement C) and on an ongoing basis (IC requirement H); (2.) Section
360.9(c)(9) (IC requirements D and I, below) permits institutions to
request an exemption from certain requirements of Section 360.9.
Institutions could submit such requests either while they are
implementing the systems required under Section 360.9 (IC requirement
D) or after they are already in compliance with Section 360.9 (IC
requirement I); (3.) Section 360.9(f) (IC requirements G and J, below)
permits institutions to request an exemption from all of the
requirements of Section 360.9 under certain conditions. Institutions
could submit such requests either while they are
[[Page 36140]]
implementing the systems required under Section 360.9 (IC requirement
G) or after they are already in compliance with Section 360.9 (IC
requirement J). Since reporting by institutions pursuant to Sections
360.9(c)(3), 360.9(c)(9), and 360.9(f) are counted as both
implementation and ongoing requirements, this IC contains eleven \1\
requirements in total. These requirements, with corresponding CFR
sections, are listed and described as follows:
---------------------------------------------------------------------------
\1\ 8 distinct requirements, plus 3 requirements that are
counted as both implementation and ongoing requirements, brings the
total number of requirements for this IC to 11.
---------------------------------------------------------------------------
A. 360.9(c)(1) and (2) (Implementation)--Require covered
institutions to set up systems for automatically placing provisional
holds on domestic and foreign deposit accounts and sweep and automated
credit account arrangements
B. 360.9(d)(1) and (2) (Implementation)--Require covered
institutions to establish practices and procedures for providing the
FDIC, in a standard format upon the close of any day's business,
customer and depositor data for all deposit accounts held in domestic
and foreign offices and interest bearing investment accounts connected
with sweep and automated credit arrangements
C. 360.9(c)(3) (Implementation)--Requires covered institutions to
notify the FDIC of the person(s) responsible for producing the standard
data download and administering provisional holds, both while the
functionality is being constructed and on an ongoing basis (IC
requirement H)
D. 360.9(c)(9) (Implementation)--Permits covered institutions to
submit to the FDIC a request for an exemption from the provisional hold
requirements for those account systems servicing a relatively small
number of accounts where the application of manual provisional holds is
feasible, both while the systems are being constructed and on an
ongoing basis (IC requirement I)
E. 360.9(d)(3) (Implementation)--Requires covered institutions to
submit the data required by 360.9(d)(1) to the FDIC upon request both
while the systems are being constructed and on an ongoing basis (IC
requirement K)
F. 360.9(e)(7) (Implementation)--Permits covered institutions to
submit to the FDIC a request for an extension of the deadline for
complying with the requirements of Section 360.9
G. 360.9(f) (Implementation)--Permits covered institutions to apply
for an exemption from the requirements of Section 360.9, if the
institution has a high concentration of deposits incidental to credit
card operations, both during the implementation period in the first
year and on an ongoing basis (IC requirement J)
H. 360.9(c)(3) (Ongoing)--Requires covered institutions to provide
the information described in IC requirement C above to the FDIC on an
ongoing basis
I. 360.9(c)(9) (Ongoing)--Permits covered institutions to request
an exemption from the provisional hold requirements, as described in IC
requirement D above, both while the systems are being constructed and
on an ongoing basis
J. 360.9(f) (Ongoing)--Permits covered institutions to apply for an
exemption from the requirements of Section 360.9, as described in IC
requirement G above, at any time after the institution is in compliance
with the requirements of Section 360.9 if the institution has a high
concentration of deposits incidental to credit card operations
K. 360.9(h) (Ongoing)--Requires covered institutions to provide
appropriate assistance to the FDIC in its testing of the systems
required under Section 360.9
4. Title: Assessment Rate Adjustment Guidelines for Large and
Highly Complex Institutions.
OMB Number: 3064-0179.
Form Number: None.
Affected Public: Large and highly complex depository institutions.
Burden Estimate:
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated time Estimated
Information collection Type of burden Obligation to number of Estimated frequency per response annual burden
description respond respondents of responses (hours) (hours)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Assessment Rate Adjustment Reporting............ Mandatory........... 2 On Occasion......... 80 160
Guidelines for Large and Highly
Complex Institutions.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total Estimated Annual Burden: 160 hours.
General Description of Collection: The FDIC's deposit insurance
assessment authority is set forth in Section 7 of the Federal Deposit
Insurance Act, 12 U.S.C. 1817(b) and (c) and promulgated in regulations
under 12 CFR part 327. These regulations also set out the process for
making adjustments to the total score of these institutions used by the
FDIC in making deposit insurance assessments. Depository institutions
are permitted to make a written request to the FDIC for an assessment
adjustment. An institution is able to request review of, or appeal, an
upward adjustment, the magnitude of an upward adjustment, removal of a
previously implemented downward adjustment or an increase in a
previously implemented upward adjustment through the FDIC's internal
review process set forth at 12 CFR 327.4(c). An institution can
similarly request review of or appeal a decision not to apply an
adjustment following a request by the institution for an adjustment.
An institution can submit its written request for an adjustment to
the FDIC's Director of the Division of Insurance and Research in
Washington, DC. In making such a request, the institution will provide
support by including evidence of a material risk or risk-mitigating
factor that it believes was not adequately considered.
5. Title: Regulatory Capital Rules: Regulatory Capital, Revisions
to the Supplementary Leverage Ratio.
OMB Number: 3064-0196.
Form Number: None.
Affected Public: Insured state nonmember banks and state savings
associations that are subject to the FDIC's advanced approaches risk-
based capital rules.
Burden Estimate:
[[Page 36141]]
Summary of Annual Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Estimated time Estimated
Information collection description Type of burden Obligation to number of Estimated frequency per response annual burden
respond respondents of responses hours hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
Disclosure Requirements Associated Disclosure........... Mandatory........... 5 Quarterly........... 5 100
with Supplementary Leverage Ratio
(12 CFR 324.172 and 173).
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total Estimated Annual Burden: 100 hours.
General Description of Collection: The supplementary leverage ratio
regulations strengthen the definition of total leverage exposure and
improve the measure of a banking organization's on and off-balance
sheet exposures. All banking organizations that are subject to the
advanced approaches risk-based capital rules are required to disclose
their supplementary leverage ratios. Advanced approaches banking
organizations must report their supplementary leverage ratios on the
applicable regulatory reports. The calculation and disclosure
requirements for the supplementary leverage ratio in the federal
banking agencies' regulatory capital rules are generally consistent
with international standards published by the Basel Committee on
Banking Supervision. These disclosures enhance the transparency and
consistency of reporting requirements for the supplementary leverage
ratio by all internationally active organizations.
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.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on July 1, 2021.
Debra A. Decker,
Deputy Executive Secretary.
[FR Doc. 2021-14502 Filed 7-7-21; 8:45 am]
BILLING CODE 6714-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on July 8, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.