Notice2023-03655
Agency Information Collection Activities: Proposed Collection Renewal; Comment Request
Primary source
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Published
February 22, 2023
Issuing agencies
Federal Deposit Insurance Corporation
Abstract
The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995, invites the general public and other Federal agencies to take this opportunity to comment on the request to renew the existing information collection described below (OMB Control No. 3064-0030). The notice of the proposed renewal for this information collection was previously published in the Federal Register allowing for a 60-day comment period.
Full Text
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<title>Federal Register, Volume 88 Issue 35 (Wednesday, February 22, 2023)</title>
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[Federal Register Volume 88, Number 35 (Wednesday, February 22, 2023)]
[Notices]
[Pages 10895-10899]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-03655]
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FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0030]
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, invites the general public and other Federal
agencies to take this opportunity to comment on the request to renew
the existing information collection described below (OMB Control No.
[[Page 10896]]
3064-0030). The notice of the proposed renewal for this information
collection was previously published in the Federal Register allowing
for a 60-day comment period.
DATES: Comments must be submitted on or before March 24, 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#3f5c5052525a514b4c7f595b565c11585049"><span class="__cf_email__" data-cfemail="89eae6e4e4ece7fdfac9efede0eaa7eee6ff">[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.
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#600d030102051a0120060409034e070f16"><span class="__cf_email__" data-cfemail="4429272526213e250422202d276a232b32">[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: Securities of State Nonmember Banks and State Savings
Associations.
OMB Number: 3064-0030.
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:
Summary of Estimated Annual Burden
[OMB No. 3064-0030]
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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. Form 3: Initial Statement Reporting (On 20 1.33 01:00 27
of Beneficial Ownership, 12 Occasion).
CFR 335.611 (Mandatory).
2. Form 4: Statement of Reporting (On 20 79.48 00:30 795
Changes in Beneficial Occasion).
Ownership, 12 CFR 335.612
(Mandatory).
3. Form 5: Annual Statement of Reporting 20 0.92 01:00 18
Beneficial Ownership, 12 CFR (Annual).
335.613 (Mandatory).
4. Form 8-A: Registration of Reporting (On 3 1 03:00 9
Certain Classes of Occasion).
Securities, 12 CFR 335.211.
5. Form 8-K: Current Report, Reporting (On 20 10.03 05:17 1,062
12 CFR 335.311 (Mandatory). Occasion).
6. Form 10: General Form for Reporting (On 1 1 215:33 216
the Registration of Occasion).
Securities, 12 CFR 335.211
(Mandatory).
7. Form 10-K: Annual Report, Reporting 20 1.1 1,296:50 28,530
12 CFR 335.311 (Mandatory). (Annual).
8. Form 10-Q: Quarterly Reporting 20 3.1 104:40 6,489
Report, 12 CFR 335.311 (Quarterly).
(Mandatory).
9. Form 12b-25: Notification Reporting (On 3 1 02:30 8
of Late Filing, 12 CFR Occasion).
335.211 (Mandatory).
10. Form 15: Certification and Reporting (On 1 1 01:30 2
Notice of Termination or Occasion).
Registration, 12 CFR 335.211
(Mandatory).
11. Form 25: Notification of Reporting (On 1 1 01:00 1
Removal from Listing and Occasion).
Registration, 12 CFR 335.211
(Mandatory).
12. Schedule 13D: Certain Reporting (On 1 1 14:30 15
Beneficial Ownership Changes, Occasion).
12 CFR 335.211 (Mandatory).
13. Schedule 13-E-3: Going Reporting (On 1 1 137:25 137
Private Transactions by Occasion).
Certain Issuers or Their
Affiliates, 12 CFR 335.211
(Mandatory).
14. Schedule 13G: Certain Reporting (On 5 1 12:24 62
Acquisitions of Stock, 12 CFR Occasion).
335.211 (Mandatory).
15. Schedule 14A: Proxy Reporting 20 1.1 120:06 2,642
Statements, 12 CFR 335.211 (Annual).
(Mandatory).
16. Schedule 14C: Information Reporting (On 20 1.1 96:52 2,131
Required in Information Occasion).
Statements, 12 CFR 335.211
(Mandatory).
[[Page 10897]]
17. Schedule 14D-1: Tender Reporting (On 4 1 22:23 90
Offer, 12 CFR 335.211 Occasion).
(Mandatory).
18. FDIC Form D, Statement of Reporting (On 154 1 01:00 154
Policy on Offering Circulars Occasion).
(Voluntary).
19. FDIC Form 1-A, Statement Reporting (On 154 1 01:00 154
of Policy on Offering Occasion).
Circulars (Voluntary).
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Total Annual Burden ................ .............. .............. .............. 42,542
(Hours):.
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Source: FDIC.
General Description of Collection: Section 12(i) of the Exchange
Act grants authority to the Federal banking agencies to administer and
enforce Sections 10A(m), 12, 13, 14(a), 14(c), 14(d), 14(f), and 16 of
the Exchange Act and Sections 302, 303, 304, 306, 401(b), 404, 406, and
407 of the Sarbanes-Oxley Act of 2002. Pursuant to Section 12(i), the
FDIC has the authority, including rulemaking authority, to administer
and enforce these enumerated provisions as may be necessary with
respect to state nonmember banks and state savings associations over
which it has been designated the appropriate Federal banking agency.
Section 12(i) generally requires the FDIC to issue regulations
substantially similar to those issued by the Securities and Exchange
Commission (SEC) regulations to carry out these responsibilities. Thus,
part 335 of the FDIC regulations incorporates by cross-reference the
SEC rules and regulations regarding the disclosure and filing
requirements of registered securities of state nonmember banks and
state savings associations.
After evaluating the remaining ICs in the 2020 ICR, the FDIC has
determined that 2 of the 19 ICs in the 2020 ICR should be removed from
OMB No. 3064-0030. Form 8-C, where a reporting bank will file with the
FDIC when registering certain classes of securities, has been removed.
Form 10-C, where a covered bank will file with the FDIC specific
business and financial information on risk factors in accordance with
the registration of securities, has also been removed. The FDIC has
removed these forms because they have never been used and are not
required to be filed.
The estimated annual burden for OMB No. 3064-0030 of 42,542 hours,
represents an increase of 30,996 hours from the 2020 ICR (11,546
hours). This increase is driven primarily by (1) revised respondent and
response count estimation methodologies for each of the ICs; (2)
revised hourly burden estimates from the SEC for the SEC forms and
schedules that are used in this ICR; (3) the removal of two collections
from the 2020 ICR--Form 8-C and Form 10-C; and (4) the addition of two
collections, both pursuant to the ``Statement of Policy Regarding the
Use of Offering Circulars in Connection with the Public Distribution of
Bank Securities'' \1\ (1996 SOP), for Forms D and 1-A. The most
significant increase annual burden comes from an increase in the hourly
burden estimate for Form 10-K. The 2020 ICR estimated that Form 10-K
would take about 140 hours per response. However, the SEC's most recent
estimates for Form 10-K are 2,255.36 hours. Even after reducing the
hourly burden by about 42.5 percent to account for heterogeneity in
filing and reporting requirements across the 20 active FDIC-supervised
IDIs expected to file Form 10-K the FDIC estimates that the hourly
burden will be approximately 1,297 hours. This results in a total
estimated annual burden of 28,530 hours, an increase of 25,590 hours
from the 2020 ICR for this IC (2,940). This revision alone accounts for
over 82 percent of the increase in total annual burden from the 2020
ICR to this ICR.
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\1\ 81 FR 46807 (September 5, 1996)
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This information collection includes the following:
Beneficial Ownership Forms: FDIC Forms 3, 4, and 5 (FDIC Form Numbers
6800/03, 6800/04, and 6800/05)
Pursuant to Section 16 of the Exchange Act, every director,
officer, and owner of more than ten percent of a class of equity
securities registered with the FDIC under Section 12 of the Exchange
Act must file with the FDIC a statement of ownership regarding such
securities. The initial filing is on Form 3 and changes are reported on
Form 4. The Annual Statement of beneficial ownership of securities is
on Form 5. The forms contain information on the reporting person's
relationship to the company and on purchases and sales of such equity
securities. 12 CFR 335.601 through 336.613 of the FDIC's regulations,
which cross-reference 17 CFR 240.16a of the SEC's regulations, provide
the FDIC form requirements for FDIC Forms 3, 4, and 5 in lieu of SEC
Forms 3, 4, and 5, which are described at 17 CFR 249.103 (Form 3),
249.104 (Form 4), and 249.105 (Form 5).
Form 8-A for Registration of Certain Classes of Securities
Form 8-A is used for registration pursuant to Section 12(b) or (g)
of the Exchange Act of any class of securities of any issuer which is
required to file reports pursuant to Section 13 or 15(d) of that Act or
pursuant to an order exempting the exchange on which the issuer has
securities listed from registration as a national securities exchange.
Form 8-A is described at 17 CFR 249.208a. There is no actual ``Form 8-
A'' as filers must produce a customized narrative document in
compliance with the requirements in accordance with the filer's
particular circumstances.
Form 8-K: Current Report
This is the current report that is used to report the occurrence of
any material events or corporate changes that are of importance to
investors or security holders and have not been reported previously by
the registrant. It provides more current information on certain
specified events than would Forms 10-Q and 10-K. The form description
is at 17 CFR 249.308. There is no actual ``Form 8-K'' as filers must
produce a customized narrative document in compliance with the
requirements in
[[Page 10898]]
accordance with the filer's particular circumstances.
Form 10: Forms for Registration of Securities
Form 10 is described at 17 CFR 249.210. There is no actual ``Form
10'' as filers must produce a customized narrative document in
compliance with the requirements in accordance with the filer's
particular circumstances.
Form 10-K: Annual Report
This annual report is used by issuers registered under the Exchange
Act to provide information described in Regulation S-K, 17 CFR 229. The
form is described at 17 CFR 249.310. There is no actual ``Form 10-K''
as filers must produce a customized narrative document in compliance
with the requirements in accordance with the filer's particular
circumstances.
Form 10-Q: Quarterly Reports
The Form 10-Q is a report filed quarterly by most reporting
companies. It includes unaudited financial statements and provides a
continuing overview of major changes in the company's financial
position during the year, as compared to the prior corresponding
period. The report must be filed for each of the first three fiscal
quarters of the company's fiscal year and is due within 40 or 45 days
of the close of the quarter, depending on the size of the reporting
company. The description of Form 10-Q is at 17 CFR 249.308a. There is
no actual ``Form 10-Q'' as filers must produce a customized narrative
document in compliance with the requirements in accordance with the
filer's particular circumstances.
Form 12b-25: Notification of Late Filing
This notification extends the reporting deadlines for filing
quarterly and annual reports for qualifying companies. There is no FDIC
Form 12b-25. The form is described at 17 CFR 249.322.
Form 15: Certification and Notice of Termination of Registration
This form is filed by each issuer to certify that the number of
holders of record of a class of security registered under section 12(g)
of the Exchange Act is reduced to a specified level in order to
terminate the registration of the class of security. For a bank, the
number of holders of record of a class of registered security must be
reduced to less than 1,200 persons. For a savings association, the
number of record holders of a class of registered security must be
reduced to (1) less than 300 persons; or (2) less than 500 persons and
the total assets of the issuer have not exceeded $10 million on the
last day of each of the issuer's most recent three fiscal years. In
general, registration terminates 90 days after the filing of the
certification. There is no FDIC Form 15. This form is described at 17
CFR 249.323.
Schedule 13D: Certain Beneficial Ownership Changes
This Schedule discloses beneficial ownership of certain registered
equity securities. Any person or group of persons who acquire a
beneficial ownership of more than 5 percent of a class of registered
equity securities of certain issuers must file a Schedule 13D reporting
such acquisition together with certain other information within ten
days after such acquisition. Moreover, any material changes in the
facts set forth in the Schedule generally precipitates a duty to
promptly file an amendment on Schedule 13D. The SEC's rules define the
term beneficial owner to be any person who directly or indirectly
shares voting power or investment power (the power to sell the
security). There is no FDIC form for Schedule 13D. This schedule is
described at 17 CFR 240.13d-101.
Schedule 13E-3: Going Private Transactions by Certain Issuers or Their
Affiliates
This schedule must be filed if an issuer engages in a solicitation
subject to Regulation 14A or a distribution subject to Regulation 14C,
in connection with a going private merger with its affiliate. An
affiliate and an issuer may be required to complete, file, and
disseminate a Schedule 13E-3, which directs that each person filing the
schedule state whether it reasonably believes that the Rule 13e-3
transaction is fair or unfair to unaffiliated security holders. There
is no FDIC form for Schedule 13E-3. This schedule is described at 17
CFR 240.13e-100.
Schedule 13G: Certain Acquisitions of Stock
Certain acquisitions of stock that are over than 5 percent of an
issuer must be reported to the public. Schedule 13G is a much
abbreviated version of Schedule 13D that is only available for use by a
limited category of persons (such as banks, broker/dealers, and
insurance companies) and even then only when the securities were
acquired in the ordinary course of business and not with the purpose or
effect of changing or influencing the control of the issuer. There is
no FDIC form for Schedule 13G. This schedule is described at 17 CFR
240.13d-102.
Schedule 14A: Proxy Statements
State law governs the circumstances under which shareholders are
entitled to vote. When a shareholder vote is required and any person
solicits proxies with respect to securities registered under Section 12
of the Exchange Act, that person generally is required to furnish a
proxy statement containing the information specified by Schedule 14A.
The proxy statement is intended to provide shareholders with the proxy
information necessary to enable them to vote in an informed manner on
matters intended to be acted upon at shareholders' meetings, whether
the traditional annual meeting or a special meeting. Typically, a
shareholder is also provided with a proxy card to authorize designated
persons to vote his or her securities on the shareholder's behalf in
the event the holder does not vote in person at the meeting. Copies of
preliminary and definitive (final) proxy statements and proxy cards are
filed with the FDIC. There is no FDIC form for Schedule 14A. The
description of this schedule is at 17 CFR 240.14a-101.
Schedule 14C: Information Required in Information Statements
An information statement prepared in accordance with the
requirements of the SEC's Regulation 14C is required whenever matters
are submitted for shareholder action at an annual or special meeting
when there is no proxy solicitation under the SEC's Regulation 14A.
There is no FDIC form for Schedule 14C. This schedule is described at
17 CFR 240.14c-101.
Schedule 14D-1: Tender Offer
This schedule is also known as Schedule TO. Any person, other than
the issuer itself, making a tender offer for certain equity securities
registered pursuant to Section 12 of the Exchange Act is required to
file this schedule if acceptance of the offer would cause that person
to own over 5 percent of that class of the securities. This schedule
must be filed and sent to various parties, such as the issuer and any
competing bidders. In addition, the SEC's Regulation 14D sets forth
certain requirements that must be complied with in connection with a
tender offer. This schedule is described at 17 CFR 240.14d-100. There
is no actual form for Schedule 14D-1 as filers must produce a
customized narrative document in compliance with the requirements in
accordance with the filer's particular circumstances.
Request for Comment
Comments are invited on: (a) Whether the collection of information
is
[[Page 10899]]
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 February 16, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023-03655 Filed 2-21-23; 8:45 am]
BILLING CODE 6714-01-P
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