Notice2021-26357
Agency Information Collection Activities: Proposed Collection Renewal; Comment Request
Primary source
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Published
December 6, 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. 3064-0093; -0111 and -0136).
Full Text
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<title>Federal Register, Volume 86 Issue 231 (Monday, December 6, 2021)</title>
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[Federal Register Volume 86, Number 231 (Monday, December 6, 2021)]
[Notices]
[Pages 69033-69035]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-26357]
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FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0093; -0111; -0136]
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 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.
3064-0093; -0111 and -0136).
DATES: Comments must be submitted on or before February 4, 2022.
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/index.html">https://www.fdic.gov/resources/regulations/federal-register-publications/index.html</a>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#9cfff3f1f1f9f2e8efdcfaf8f5ffb2fbf3ea"><span class="__cf_email__" data-cfemail="a9cac6c4c4ccc7dddae9cfcdc0ca87cec6df">[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#aec3cdcfcccbd4cfeec8cac7cd80c9c1d8"><span class="__cf_email__" data-cfemail="88e5ebe9eaedf2e9c8eeece1eba6efe7fe">[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: Notices Required of Government Securities Dealers or
Brokers (Insured State Nonmember Banks).
OMB Number: 3064-0093.
Form Number: G-FIN; G-FINW; G-FIN4 & G-FIN5.
Affected Public: Insured state nonmember banks acting as government
securities brokers and dealers.
Burden Estimate:
Summary of Estimated Annual Burden
[OMB No. 3064-0093]
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Number of
Information collection description Type of burden Frequency of response Number of responses per Hours per Annual burden
(obligation to respond) respondents respondent response (hours)
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Notice by Financial Institutions of Reporting (Mandatory)... On Occasion............ 1 1 1 1
Government Securities Broker or
Government Securities Dealer
Activities (G-FIN).
Notice by Financial Institutions of Reporting (Mandatory)... On Occasion............ 1 1 2 2
Termination of Activities as a
Government Securities Broker or
Government Securities Dealer (G-
FINW).
Disclosure Form for Person Associated Reporting (Mandatory)... On Occasion............ 1 5 2 10
with a Financial Institution
Securities Broker or Dealer (G-FIN-
4).
Uniform Termination Notice for Reporting (Mandatory)... On Occasion............ 1 5 0.25 1.25
Persons Associated with a Financial
Institution Government Securities
Broker or Dealer (G-FIN-5).
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Total Annual Burden (Hours)...... ........................ ....................... .............. .............. .............. 14.25
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Source: FDIC.
General Description of Collection: The Government Securities Act of
1986 requires all financial institutions acting as government
securities brokers and dealers to notify their Federal regulatory
agencies of their broker dealer activities,
[[Page 69034]]
unless exempted from the notice requirements by Treasury Department
regulation. The Form G-FIN and Form G-FINW are used by insured State
nonmember banks that are government securities brokers or dealers to
notify the FDIC of their status or that they have ceased to function as
a government securities broker or dealer.
The Form G-FIN-4 is used by associated persons of insured State
nonmember banks that are government securities brokers or dealers to
provide certain information to the bank and to the FDIC concerning
employment, residence, and statutory disqualification. The Form G-FIN-5
is used by insured State nonmember banks that are government securities
brokers or dealers to notify the FDIC that an associated person is no
longer associated with the government securities broker or dealer
function of the bank.
There is no change in the method or substance of the collection.
The overall increase in burden hours is the result of economic
fluctuation. In particular, the estimated number of submissions of form
G-FIN-4 has increased by four, the hours per response increased by one
and frequency of responses have remained the same.
2. Title: Activities and Investments of Insured State Banks.
OMB Number: 3064-0111.
Form Numbers: None.
Affected Public: Insured state nonmember banks and insured state
savings associations.
Burden Estimate:
Summary of Estimated Annual Burden
[OMB No. 3064-0111]
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Number of
Information collection description Type of burden Frequency of response Number of responses per Hours per Annual burden
(obligation to respond) respondents respondent response (hours)
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Application or Notice to engage in Reporting (Required).... On occasion............ 29 1.1 8 256
certain activities \1\.
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Total Annual Burden (Hours)...... ........................ ....................... .............. .............. .............. 256
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Source: FDIC.
General Description of Collection: Section 24 of the Federal
Deposit Insurance (FDI Act), 12 U.S.C. 1831a, limits investments and
other activities in which state banks may engage, as principal, to
those permissible for national banks and those approved by the FDIC
under procedures set forth in part 362 of the FDIC's Rules and
Regulations, 12 CFR part 362. With certain exceptions, section 24 of
the FDI Act limits the activities and investments of state banks to
those activities and investments that are permissible for national
banks. In addition, the statute prohibits a state bank from directly
engaging, as a principal, in any activity or investment that is not
permissible for a national bank, or indirectly through a subsidiary in
an activity or investment that is not permissible for a subsidiary of a
national bank, unless such bank meets its minimum capital requirements
and the FDIC determines that the activity or investment does not pose a
significant risk to the Deposit Insurance Fund (DIF). The FDIC can make
such a determination for exception by regulation or by order. Section
28(a), 12 U.S.C. 1831e, similarly limits the investments and activities
of state savings associations and their service corporations to those
permitted by federal savings associations and their service
corporations, absent FDIC approval. Part 362 details the activities
that state banks or their subsidiaries may engage in, under certain
criteria and conditions and identifies the information that state banks
must furnish to the FDIC in order to obtain the FDIC's approval or non-
objection. Part 362 also applies to the activities and investments of
state savings associations and their subsidiaries.
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\1\ There is no official form used to submit an application or
notice. Institutions write a letter with supporting documentation to
FDIC to file a response.
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There is no change in the method or substance of the collection.
The increase in burden hours is the result of economic fluctuation. In
particular, the number of respondents has increased while the hours per
response and frequency of responses have remained the same.
3. Title: Privacy of Consumer Financial Information.
OMB Number: 3064-0136.
Form Number: None.
Affected Public: Insured state nonmember banks and consumers.
Burden Estimate:
[[Page 69035]]
Summary of Estimated Annual Burden
[OMB No. 3064-0136]
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Number of
Information collection description Type of burden Frequency of response Number of responses per Hours per Annual burden
(obligation to respond) respondents respondent response (hours)
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Initial Notice to Consumers.......... Third Party Disclosure On Occasion............ 94 1.4 60 7,896
(Mandatory).
Opt-out Notice....................... Third Party Disclosure On Occasion............ 314 1 8 2,512
(Mandatory).
Annual Notice and Change in Terms.... Third Party Disclosure Annual................. 534 1 8 4,272
(Mandatory).
Consumer Opt-out..................... Third Party Disclosure On Occasion............ 435,225 1 0.25 108,806.25
(Voluntary).
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Total Annual Burden (Hours)...... ........................ ....................... .............. .............. .............. 123,486.25
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Source: FDIC.
General Description of Collection: The elements of this collection
are required under sections 503 and 504 of the Gramm-Leach-Bliley Act,
15 U.S.C. 6803, 6804. The collection mandates notice requirements and
restrictions on a financial institution's ability to disclose nonpublic
personal information about consumers to nonaffiliated third parties.
There is no change in the method or substance of the collection.
The overall decrease in burden hours is the result of economic
fluctuation. In particular, the estimated number of respondents to the
Consumer Opt-out component increased, the number of respondents to the
other components decreased and the hours per response and frequency of
responses have remained the same.
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 November 30, 2021.
James P. Sheesley,
Assistant Executive Secretary, Federal Deposit Insurance Corporation.
[FR Doc. 2021-26357 Filed 12-3-21; 8:45 am]
BILLING CODE 6714-01-P
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