Notice2021-24814
Agency Information Collection Activities: Submission for OMB Review; Comment Request (3064-0200)
Primary source
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Published
November 15, 2021
Issuing agencies
Federal Deposit Insurance Corporation
Abstract
The Federal Deposit Insurance Corporation (FDIC) will submit the following information collection request to the Office of Management and Budget (OMB) for review and approval in accordance with the Paperwork Reduction Act of 1995. The proposed information collection was previously published in the Federal Register on August 10, 2021, allowing for a 60-day comment period.
Full Text
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<title>Federal Register, Volume 86 Issue 217 (Monday, November 15, 2021)</title>
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[Federal Register Volume 86, Number 217 (Monday, November 15, 2021)]
[Notices]
[Pages 63026-63029]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-24814]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Submission for OMB
Review; Comment Request (3064-0200)
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: 30-Day notice and request for comment.
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SUMMARY: The Federal Deposit Insurance Corporation (FDIC) will submit
the following information collection request to the Office of
Management and Budget (OMB) for review and approval in accordance with
the Paperwork Reduction Act of 1995. The proposed information
collection was previously published in the Federal Register on August
10, 2021, allowing for a 60-day comment period.
DATES: Comments are encouraged and will be accepted for an additional
30 days until December 15, 2021.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC by any of the following methods:
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<bullet> <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#2a494547474f445e596a4c4e4349044d455c"><span class="__cf_email__" data-cfemail="a0c3cfcdcdc5ced4d3e0c6c4c9c38ec7cfd6">[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.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular information
collection by selecting ``Currently under 30-Day Review--Open for
Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Manny Cabeza, Regulatory Counsel, 202-
898-3767, <a href="/cdn-cgi/l/email-protection#a7cac4c6c5c2ddc6e7c1c3cec489c0c8d1"><span class="__cf_email__" data-cfemail="e9848a888b8c9388a98f8d808ac78e869f">[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 collection of information:
1. Title: Joint Standards for Assessing Diversity Policies and
Practices.
OMB Number: 3064-00200.
Form Number: 2710/05--Diversity Self-Assessment (paper form), 2710/
06--Diversity Self-Assessment (electronic form).
Affected Public: Insured state nonmember banks, and insured state
savings associations.
Burden Estimate: FDIC is revising the burden estimates associated
with this information collection as a result of the update of the
electronic version of the reporting form. The update will allow
respondents who have previously completed a diversity self-assessment
(DSA) to copy and clone their previous submission. This copy/clone
capability reduces the reporting burden for returning respondents.
However, it does not change the burden for respondents who fill out the
electronic form for the first time or respondents who choose an
alternative method of assessing their diversity policies and practices.
As such, this ICR revises the IC line items to distinguish between the
implementation burden incurred by first time respondents from the
ongoing burden incurred by returning respondents. This ICR also updates
the respondent count estimates for the other line items in this IC.
Finally, this ICR adds a line to cover the burdens of non-material (not
responsive) submissions.
In October 2020, the FDIC implemented a copy/clone feature in FID-
SA for submissions covering the 2020 reporting period and beyond. This
feature allows the respondent to pre-populate a new diversity self-
assessment with the information that was previously completed and
submitted. In addition, the FDIC Office of Minority and Women Inclusion
(OMWI) have identified several submissions that complete the pro forma
form but do not provide the FDIC with any material self-assessments.
With the addition of these two submission types, there are now five
distinct submission types for this IC:
1. Paper Form Submissions, which are DSA submissions that use the
``Diversity Self-Assessment of Financial Institutions Regulated by the
FDIC'' form and submit the form as an email attachment or via the
United States Postal Service;
2. Electronic Form (Implementation) Submissions, which are DSA
submissions that utilize the online FID-SA application, and the
financial institution has not previously submitted a DSA;
3. Electronic Form (Ongoing) Submissions, which are DSA submissions
that utilize the online FID-SA application and are able to use the
copy/clone feature in FID-SA;
4. Free-Form Submissions, which are submissions that do not use the
``Diversity Self-Assessment of Financial Institutions Regulated by the
FDIC'' form; and
5. Non-material Submissions, which are pro forma submissions that
do not provide any material self-assessments.
Estimated Number of Respondents and Responses
Responses to this information collection are voluntary and may be
submitted by any FDIC-regulated financial institution. As such,
potential respondents to this IC are all FDIC-regulated financial
institutions. As of December 31, 2020, the FDIC regulates 3,227 insured
depository institutions (IDIs). Of these institutions, 2,380 are
considered small for the purposes of the Regulatory Flexibility Act
(RFA).
Respondents submit a single response per year. To estimate the
number of respondents for this ICR, FDIC reviewed and summarized data
from historical submissions by FDIC-regulated IDIs covering diversity
activities in the reporting periods 2016-2019. Submissions were
categorized as a first-time submission if no prior submission was made
by the same IDI. Otherwise, the submission was categorized as a repeat
submission. FDIC did not categorize 2016 submissions since 2016 was the
first year for which the agency has submission data. A summary of these
results is provided in Table 1 below:
Table 1--OMWI Submission Counts, by Submission Type and Reporting Period
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Submission type 2016 2017 2018 2019
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All submissions*................................ 95 137 133 152
All submissions, small IDIs**................... 17 26 26 33
First-time submissions.......................... .............. 81 42 38
First-time submissions, small IDIs**............ .............. 18 13 16
Repeat submissions.............................. .............. 56 91 113
Repeat submissions, small IDIs**................ .............. 8 13 17
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Source: FDIC OMWI.
* These counts include two financial institutions (CERTs 20399 in 2016 and 29845 in 2019) that were later found
to not be regulated by the FDIC during their respective reporting periods. We include them here to align the
table with other OMWI published analyses (available at <a href="https://www.fdic.gov/about/diversity/analysisdsa.html">https://www.fdic.gov/about/diversity/analysisdsa.html</a>).
** IDIs are counted as small if they meet the SBA's definition of ``small'' for purposes of RFA as of December
31st in each reporting period.
As Table 1 shows, there were 152 total submissions in 2019, the
most recent reporting year. This is an increase of approximately 20
submissions from the previous year. This increase is due to the
introduction of the online FID-SA application and an expanded outreach
effort by the FDIC to educate and increase awareness about the DSA. The
[[Page 63028]]
FDIC expects that submission counts will continue to climb upwards due
to continued expanded outreach efforts as well as the introduction of
the copy/clone feature to facilitate responses. Based on the historical
submission counts and the expected rise in submissions, the FDIC
expects it will receive 195 submissions per year with the majority of
these submissions using the online FID-SA application. Based on the
historical trends of first-time and repeating submissions future
expectations, the FDIC anticipates annual respondent counts of 45
Electronic Form (Implementation) and 130 Electronic Form (Ongoing)
submissions.\1\ In addition, the FDIC anticipates annual counts of five
Free-Form Submissions and ten Non-material Submissions.\2\ Finally,
FDIC recognizes that some IDIs may prefer to continue providing Paper
Submissions and anticipate five such submissions per year.
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\1\ Steady state averages of 25 percent for Electronic Form
(Implementation) and 75 percent for Electronic Form (Ongoing)
submissions were estimated from historical submissions by FDIC-
regulated IDIs covering diversity activities in 2019, the first
reporting period for which the online submission was available, and
multiplied by 175, the anticipated number of annual Electronic Form
submissions, to arrive at estimates of 45 Electronic Form
(Implementation) and 130 Electronic Form (Ongoing) submissions. For
the purposes of annualizing the estimated number of respondents, it
is assumed that the estimated annual count of respondents for
Electronic Form (Ongoing) Submissions includes returning Electronic
Form (Implementation) Submissions from the previous year.
\2\ The FDIC found 0, 0, and 4 Free-Form submissions and 3, 3,
and 12 Non-material submissions in 2017, 2018, and 2019,
respectively. Based on these historical numbers and their
supervisory experience, the FDIC anticipates approximately 5 Free-
Form and 10 Non-material Submissions going forward.
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Estimated Hourly Burden
The FDIC estimates that Electronic Form (Implementation)
Submissions will take seven hours, the same burden that was recorded in
the Electronic Form line item in the 2020 ICR. For Electronic Form
(Ongoing) Submissions, the FDIC estimates that the copy/clone feature
will save respondents an average of four hours per submission, for a
net burden of three hours per response. For Non-material Submissions,
the FDIC estimates that the pro forma completion of the submission
application will take six minutes, or 0.1 hours. The FDIC has reviewed
the hourly burden estimates for Paper Submissions and for Free-Form
Submissions and found that the estimates from the 2020 ICR remain
reasonable and appropriate. Finally, the FDIC estimates that each
respondent will incur one hour of burden per year, on average, to
disclose a portion of its submission to the public, in a manner
reflective of the entity's size and other characteristics.
The estimated annual burden for each submission type, in hours, is
the product of the estimated number of respondents, number of responses
per respondent per year, and time per response, as summarized in Table
2 below. The total estimated annual burden for this information
collection is 100, 106 hours, a reduction of 559 hours from the
previously approved ICR. \3\
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\3\ The average burden hour estimate across all submission types
is 4 hours and 8 minutes per response.
Table 2--Summary of Estimated Annual Burden (OMB No. 3064-0006)
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Number of Annual
Information collection description-- Type of burden (obligation Frequency of response Number of responses per Hours per burden
submission type to respond) respondents respondent response (hours)
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Joint Standards for Assessing Diversity Reporting (Voluntary)..... Annual....................... 5 1 8 40
Policies and Practices--Paper Form.
Joint Standards for Assessing Diversity Reporting (Voluntary)..... Annual....................... 45 1 7 315
Policies and Practices--Electronic
Form (Implementation).
Joint Standards for Assessing Diversity Reporting (Voluntary)..... Annual....................... 130 1 3 390
Policies and Practices--Electronic
Form.
(Ongoing)..............................
Joint Standards for Assessing Diversity Reporting (Voluntary)..... Annual....................... 5 1 12 60
Policies and Practices--Free-Form.
Joint Standards for Assessing Diversity Reporting (Voluntary)..... Annual....................... 10 1 0.1 1
Policies and Practices--
Non-material...........................
Joint Standards for Assessing Diversity Disclosure (Voluntary).... Annual....................... 195 1 1 195
Policies and Practices--
Public Disclosure......................
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Total Annual Burden (Hours)........ .......................... ............................. .............. .............. ......... 1,001
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Source: FDIC.
General Description of Collection
Section 342 of the Dodd-Frank Wall Street Reform and Consumer
Protection Act of 2010 (the Act) required the Office of the Comptroller
of the Currency (OCC), Board of Governors of the Federal Reserve System
(Board), Federal Deposit Insurance Corporation (FDIC), Bureau of
Consumer Financial Protection (CFPB), National Credit Union
Administration (NCUA), and Securities and Exchange Commission (SEC)
(together, Agencies and separately, Agency) each to establish an Office
of Minority and Women Inclusion (OMWI) to be responsible for all
matters of the Agency relating to diversity in management, employment,
and business activities. The Act also instructed each OMWI Director to
develop standards for assessing the diversity policies and practices of
entities regulated by the Agency. The Agencies worked together to
develop joint standards and, on June 10, 2015, they jointly published
in the Federal Register \4\ the ``Final Interagency Policy Statement
Establishing Joint Standards for Assessing the Diversity Policies and
Practices of Entities Regulated by the Agencies'' (Policy Statement).
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\4\ 80 FR 33016.
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The Policy Statement contains a ``collection of information''
within the meaning of the Paperwork Reduction Act of 1995 (PRA). The
Policy Statement includes Joint Standards that cover ``Practices to
Promote Transparency of Organizational Diversity and Inclusion.'' These
Joint Standards contemplate that a regulated entity is transparent
about its diversity and inclusion activities by making certain
information available to the public annually on its website or through
other appropriate communications methods, in a manner reflective of the
entity's size and other characteristics. The specific information
referenced in these standards is: (a) Leadership commitment to
diversity and inclusion; (b) workforce diversity and employment
practices; (c) progress toward achieving diversity and inclusion in its
procurement activities; and (d) opportunities available at the entity
that promote diversity.
In addition, the Policy Statement includes Joint Standards that
address ``Entities' Self-Assessment.'' The Joint Standards for
Entities' Self-Assessment envision that a regulated entity, in a manner
reflective of its size and other characteristics, (a) conducts annually
a voluntary self-assessment of its diversity policies and practices;
(b) monitors and evaluates its performance under its diversity policies
and practices on an ongoing basis; (c) provides information pertaining
to its self-assessment to the OMWI Director of its primary federal
financial regulator; and (d) publishes information pertaining to its
efforts with respect to the Joint Standards.
The collection of information described above is reported to the
FDIC via the form entitled ``Diversity Self-Assessment of Financial
Institutions Regulated by the FDIC,'' which can be submitted in paper
\5\ or electronic format.\6\ To facilitate DSA submissions, the FDIC
has developed the automated Financial Institution Diversity Self-
Assessment (FID-SA) application. FID-SA provides FDIC-regulated
financial institutions an easy and efficient way to electronically
complete the diversity self-assessment; work with multiple users; view
previous submissions; attach supporting material; and print and save in
pdf format.\7\
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\5\ The paper version of the ``Diversity Self-Assessment of
Financial Institutions Regulated by the FDIC'' form (form number
2710/05) can be viewed at the following location: <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/2021/2021-form-2710-05-diversity-self-assessment-paper-form.pdf">https://www.fdic.gov/resources/regulations/federal-register-publications/2021/2021-form-2710-05-diversity-self-assessment-paper-form.pdf</a>.
\6\ The electronic version of the ``Diversity Self-Assessment of
Financial Institutions Regulated by the FDIC'' form (form number
2710/06) can be viewed at the following location: <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/2021/2021-form-2710-06-diversity-self-assessment-screen-shots.docx">https://www.fdic.gov/resources/regulations/federal-register-publications/2021/2021-form-2710-06-diversity-self-assessment-screen-shots.docx</a>.
\7\ As described in the FID-SA portal, available at <a href="https://www.fdic.gov/about/diversity/fidsaportal.html">https://www.fdic.gov/about/diversity/fidsaportal.html</a> (accessed May 1,
2021).
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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 November 9, 2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-24814 Filed 11-12-21; 8:45 am]
BILLING CODE 6714-01-P
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