Notice2023-02848
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
February 10, 2023
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. 3064-0112; -0125 and -0177).
Full Text
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<title>Federal Register, Volume 88 Issue 28 (Friday, February 10, 2023)</title>
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[Federal Register Volume 88, Number 28 (Friday, February 10, 2023)]
[Notices]
[Pages 8860-8862]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-02848]
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FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0112; -0125; -0177]
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.
3064-0112; -0125 and -0177).
DATES: Comments must be submitted on or before April 11, 2023.
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#9af9f5f7f7fff4eee9dafcfef3f9b4fdf5ec"><span class="__cf_email__" data-cfemail="94f7fbf9f9f1fae0e7d4f2f0fdf7baf3fbe2">[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 NW building (located on F Street
NW), 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#4528262427203f240523212c266b222a33"><span class="__cf_email__" data-cfemail="cfa2acaeadaab5ae8fa9aba6ace1a8a0b9">[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: Real Estate Lending Standards.
OMB Number: 3064-0112.
Forms: None.
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:
Summary of Estimated Annual Burden
[OMB No. 3064-0112]
----------------------------------------------------------------------------------------------------------------
Type of burden Number of Time per
Information collection (frequency of Number of responses per response Annual burden
(obligation to respond) response) respondents respondent (HH:MM) (hours)
----------------------------------------------------------------------------------------------------------------
1. Real Estate Lending Recordkeeping 3,086 1 20:00 61,720
Standards, 12 CFR 365 (Annual).
(Mandatory).
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Total Annual Burden ................ .............. .............. .............. 61,720
(Hours):.
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Source: FDIC.
General Description of Collection: Section 1828(o) of the Federal
Deposit Insurance Act requires each federal banking agency to adopt
uniform regulations prescribing real estate lending standards. Part 365
of the FDIC Rules and Regulations, which implements section 1828(o),
requires institutions to have real estate lending policies that include
(a) limits and standards consistent with safe and sound banking
practices; (b) prudent underwriting standards, including loan-to-value
ratio (LTV) limits that are clear and measurable; (c) loan
administration policies; (d) documentation, approval and reporting
requirements; and (e) a requirement for annual review and approval by
the board of directors. The rule also establishes supervisory LTV
limits and other underwriting considerations in the form of guidelines.
Since banks generally have written policies on real estate lending, the
additional burden imposed by this regulation is limited to
modifications to existing policies necessary to bring those policies
into compliance with the regulation and the development of a system to
report loans in excess of the guidelines to the board of directors.
There is no change in the substance or methodology of this information
collection. The change in burden is due to a decrease in the number of
respondents.
2. Title: Foreign Banking and Investment by Insured State Nonmember
Banks.
OMB Number: 3064-0125.
Forms: None.
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:
[[Page 8861]]
Summary of Estimated Annual Burden
[OMB No. 3064-0125]
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Type of burden Number of Time per
Information collection (frequency of Number of responses per response Annual burden
(obligation to respond) response) respondents respondent (HH:MM) (hours)
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1. Notices or applications to Reporting (On 1 1 02:00 2
establish, move, or close a Occasion).
foreign branch, 12 CFR
303.182 (Mandatory).
2. Filings for authorization Reporting (On 1 1 40:00 40
for foreign branch to engage Occasion).
in activities other than
those permitted under 12 CFR
347.115, 12 CFR 303
(Mandatory).
3. Filings to invest in Reporting (On 2 1 60:00 120
foreign organizations, or to Occasion).
engage in certain activities
through foreign
organizations, 12 CFR
303.183(b) and.
303.121, (Mandatory)..........
4. Merger transactions Reporting (On 1 1 06:00 6
involving foreign Occasion).
organizations, 12 CFR
303.185(b) and 12 CFR 303.62
(Mandatory).
5. Filings by insured state Reporting (On 1 1 02:00 2
nonmember banks to invest in, Occasion).
or divest its interest in, a
foreign organization, 12 CFR
303.183 (Mandatory).
6. Notice of foreign Reporting (On 1 1 01:00 1
divestiture of foreign Occasion).
organization, 12 CFR
303.183(d) (Mandatory).
7. Document policies and Recordkeeping 6 1 400:00 2,400
procedures for supervision of (Annual).
foreign activities, 12 CFR
347.116 (Mandatory).
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Total Annual Burden ................ .............. .............. .............. 2,571
(Hours):.
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Source: FDIC.
General Description of Collection: The Federal Deposit Insurance
(FDI) Act requires state nonmember banks to obtain FDIC consent to
establish or operate a foreign branch, or to acquire and hold, directly
or indirectly, stock or other evidence of ownership in any foreign bank
or other entity. The FDI Act also authorizes the FDIC to impose
conditions for such consent and to issue regulations related thereto.
This collection is a direct consequence of those statutory
requirements. There is no change in the substance or methodology of
this information collection. The change in burden is due to a decline
in the number of FDIC-supervised institutions that operate foreign
branches and one fewer estimated respondent to IC 6.
3. Title: Treatment by the FDIC as Conservator or Receiver of
Financial Assets Transferred by an Insured Depository Institution in
Connection With a Securitization or Participation after September 30,
2010.
OMB Number: 3064-0177.
Forms: None.
Affected Public: Insured Depository Institutions.
Burden Estimate:
Summary of Estimated Annual Burden
[OMB No. 3064-0177]
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Type of burden Number of Time per
Information collection (frequency of Number of responses per response Annual burden
(obligation to respond) response) respondents respondent (HH:MM) (hours)
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1. Credit performance and Disclosure 28 125.857 02:00 7,048
changes to compensation (Monthly).
arrangements, 12 CFR
360.6(b)(2)(i)(C) & (D)
(Mandatory).
2. Securitization structure Disclosure (On 28 10.488 03:00 882
and initial compensation Occasion).
arrangements, 12 CFR
360.6(b)(2)(i)(B) & (D)
(Mandatory).
[[Page 8862]]
3. Residential mortgages: loan- Disclosure (On 3 3.667 02:00 22
level information and Occasion).
sponsor's disclosure of third-
party due diligence report on
compliance with
360.6(b)(2)(ii)(B), 12 CFR
360.6(b)(2)(ii)(A) & (B)
(Mandatory).
4. Residential mortgages: Disclosure (On 19 4.789 01:00 91
servicer or affiliate Occasion).
ownership interests,.
12 CFR 360.6(b)(2)(ii)(C)
(Mandatory).
5. Securitization documents, Recordkeeping 28 10.488 01:00 294
12 CFR 360.6(c)(7) (On Occasion).
(Mandatory).
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Total Annual Burden ................ .............. .............. .............. 8,337
(Hours):.
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Source: FDIC.
General Description of Collection: Part 360.6 of the FDIC's
regulations sets forth certain conditions that must be satisfied for a
securitization transaction sponsored by an insured depository
institution to be eligible for special treatment in the event that the
FDIC is appointed receiver for the sponsor. Among other conditions, the
securitization documents must require compliance with certain
disclosure requirements (including the requirements of Regulation AB of
the Securities and Exchange Commission). Conditions of eligibility for
special treatment for participations in financial assets under part
360.6 are also set forth.
Based upon a closer review of the Rule, the FDIC has re-categorized
the information collection requirements in 12 CFR part 360.6 into five
distinct information collections (ICs) covering: (1) periodic
disclosures of credit performance or changes to initial compensation
arrangements under 12 CFR 360.6(b)(2)(i)(C) and (D); (2) disclosures of
initial compensation arrangements and securitization structure under 12
CFR 360.6(b)(2)(i)(B) and (D); (3) sponsors' disclosures of loan-level
information and third-party due diligence reports for RMBSs under 12
CFR 360.6(b)(2)(ii)(A) and (B); (4) servicers' disclosures of servicer
or affiliate ownership interests for securitizations in which the
assets include residential mortgage loans under 12 CFR
360.6(b)(2)(ii)(C); and (5) a recordkeeping requirement that the
closing documents of a securitization be maintained in a readily
accessible form under 12 CFR 360.6(c)(7). The burden associated with
these five categories are enumerated in the estimated burden table
which now identifies the regulatory authorities for each IC.
While there is no change in the substance of the information
collection, the ICR is being revised to reflect the re-categorization
of the PRA requirements in 12 CFR part 360.6 into five distinct ICs.
The additional IC was added to this ICR to recognize the periodic
credit performance disclosure requirement.
Request for Comment: Comments are invited on: (a) Whether the
collections of information are 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 collections, 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 collections 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 February 7, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023-02848 Filed 2-9-23; 8:45 am]
BILLING CODE 6714-01-P
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</html>Indexed from Federal Register on February 10, 2023.
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