Notice2021-20501
Agency Information Collection Activities: Proposed Collection; Comment Request
Primary source
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Published
September 22, 2021
Issuing agencies
Federal Deposit Insurance Corporation
Abstract
The FDIC seeks to continue its engagement and collaboration with innovators in the financial, non-financial, and technology sectors to, among other things, identify, develop and promote technology-driven innovations among community and other banks in a manner that ensures the safety and soundness of FDIC-supervised and -insured institutions. An innovation pilot program framework can provide a regulatory environment in which the FDIC, in conjunction with individual proposals collected from innovators, including banks, will provide tailored regulatory and supervisory assistance, when appropriate, to facilitate the testing of innovative and advanced technologies, products, services, systems, or activities. As part of an innovation pilot program, innovators may request information from banks and other members of the public outside of their normal course of business. Any information provided by banks and other members of the public will be provided on a voluntary basis. FDIC staff may similarly request information on a voluntary basis from banks or other members of the public to evaluate the products or services developed in the pilot programs. The FDIC invites the general public, including persons who may have an interest in participating in innovation pilot programs, and other Federal agencies to comment on the agency's collection of information that may result from innovators obtaining information from banks and other members of the public in connection with innovation pilot programs, as required by the Paperwork Reduction Act of 1995. At the end of the comment period, any comments and recommendations received will be reviewed to determine the extent to which the collection of proposals should be modified prior to the submission to the Office of Management and Budget (OMB) for review and approval.
Full Text
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<title>Federal Register, Volume 86 Issue 181 (Wednesday, September 22, 2021)</title>
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[Federal Register Volume 86, Number 181 (Wednesday, September 22, 2021)]
[Notices]
[Pages 52679-52680]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-20501]
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FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0212]
Agency Information Collection Activities: Proposed Collection;
Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
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SUMMARY: The FDIC seeks to continue its engagement and collaboration
with innovators in the financial, non-financial, and technology sectors
to, among other things, identify, develop and promote technology-driven
innovations among community and other banks in a manner that ensures
the safety and soundness of FDIC-supervised and -insured institutions.
An innovation pilot program framework can provide a regulatory
environment in which the FDIC, in conjunction with individual proposals
collected from innovators, including banks, will provide tailored
regulatory and supervisory assistance, when appropriate, to facilitate
the testing of innovative and advanced technologies, products,
services, systems, or activities. As part of an innovation pilot
program, innovators may request information from banks and other
members of the public outside of their normal course of business. Any
information provided by banks and other members of the public will be
provided on a voluntary basis. FDIC staff may similarly request
information on a voluntary basis from banks or other members of the
public to evaluate the products or services developed in the pilot
programs. The FDIC invites the general public, including persons who
may have an interest in participating in innovation pilot programs, and
other Federal agencies to comment on the agency's collection of
information that may result from innovators obtaining information from
banks and other members of the public in connection with innovation
pilot programs, as required by the Paperwork Reduction Act of 1995. At
the end of the comment period, any comments and recommendations
received will be reviewed to determine the extent to which the
collection of proposals should be modified prior to the submission to
the Office of Management and Budget (OMB) for review and approval.
DATES: Comments must be submitted on or before November 22, 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/resources/regulations/federal-register-publications/">https://www.fdic.gov/resources/regulations/federal-register-publications/</a>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#3f5c5052525a514b4c7f595b565c11585049"><span class="__cf_email__" data-cfemail="482b2725252d263c3b082e2c212b662f273e">[email protected]</span></a>. Include the name of the
collection in the subject line of the message.
<bullet> Mail: Jennifer Jones (202-898-6768), Counsel, MB-3078,
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 NW building (located on F
Street), on business days between 7:00 a.m. and 5:00 p.m.
All comments should reference ``Information Collection for
Innovation Pilot Programs.'' 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: Jennifer Jones, Counsel, 202-898-6768,
<a href="/cdn-cgi/l/email-protection#c0aaa5aeaeaaafaea5b380a6a4a9a3eea7afb6"><span class="__cf_email__" data-cfemail="c9a3aca7a7a3a6a7acba89afada0aae7aea6bf">[email protected]</span></a>, MB-3078, Federal
[[Page 52680]]
Deposit Insurance Corporation, 550 17th Street NW, Washington, DC
20429.
SUPPLEMENTARY INFORMATION:
Proposal to amend the following currently approved collection of
information:
1. Title: Information Collection for Innovation Pilot Programs.
OMB Number: 3064-0212.
Form Number: None.
Affected Public: FDIC-supervised and -insured institutions and
other members of the public that provide information to innovators in
connection with innovation pilot programs.
Burden Estimate:
Summary of Annual Burden
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Estimated Estimated Estimated Estimated
Information collection description Type of burden Obligation to respond number of frequency of time per annual burden
respondents responses response (hours)
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Innovation Pilot Programs--Burden Reporting................ Voluntary............... 400 On Occasion 100 40,000
on Banks and Other Members of the
Public.
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Total Estimated Annual Burden.. ......................... ........................ .............. .............. .............. 40,000
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General Description of Collection: The FDIC seeks to engage and
collaborate with innovators in the financial, non-financial, and
technology sectors to, among other things, identify, develop and
promote technology-driven innovations among community and other banks
in a manner that ensures the safety and soundness of FDIC-supervised
and -insured institutions. An innovation pilot program framework will
provide a regulatory environment in which the FDIC, in conjunction with
individual proposals collected from innovators will provide tailored
regulatory and supervisory assistance, when appropriate, to facilitate
the testing of innovative and advanced technologies, products,
services, systems, or activities.
The FDIC anticipates that products developed as part of innovation
pilot programs will improve the efficiency and effectiveness of bank
operations, and eventually, examinations, while increasing transparency
and ultimately reducing the cost of regulatory compliance for
participating institutions. In addition, the FDIC anticipates that
proposals provided in connection with the innovation pilot programs
will involve cutting-edge innovations and novel approaches or
applications involving a banking product, service, system, or activity
that benefits and can lead to better outcomes for consumers.
As part of an innovation pilot program, innovators may request
information from banks and other members of the public outside of their
normal course of business. Any information provided by banks and other
members of the public will be provided on a voluntary basis. FDIC staff
may similarly request information on a voluntary basis from banks or
other members of the public to evaluate the products or services
developed in the pilot programs. This information is intended to allow
banks and the FDIC to analyze the health of the overall banking system,
critical financial sectors, or national, regional or local economic
conditions (i.e., horizontal analysis). Additionally, bank specific
information may be collected in order to allow for better insights into
current and escalating risks across all aspects of banking. In
particular, innovators may request from banks and other members of the
public general ledger information about all products and services, or a
subset of products and services, systems or activities, and will not
contain any personally identifiable information (PII) as defined in OMB
Circular A-130 and includes the disclosure of any financial records or
information which is identified with or identifiable as being derived
from the financial records of a particular customer.
The annual burden for this information collection is estimated to
be 4,000 hours. This represents an increase of hours from the current
burden estimate and also a change in focus. In particular, when this
information collection was first obtained, it included the burden
imposed on the innovators and partner banks. In review of this
information collection, the FDIC has decided to transfer the burden
imposed on innovators to existing information collection 3064-0072
entitled, ``Acquisition Services Information Requirements,'' which is
related to the FDIC's procurement process. The remaining hours in this
information collection, which have been updated and increased, reflect
the burden imposed on banks and other members of the public in
connection with innovation pilot programs.
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 estimate 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 September 17, 2021.
James Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-20501 Filed 9-21-21; 8:45 am]
BILLING CODE P
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