Notice2023-05883
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
March 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 collections described below (OMB Control No. 3064-0029, -0112, -0125, and -0177). The notices of the proposed renewal for these information collections were previously published in the Federal Register on January 6, 2023, and February 10, 2023, allowing for a 60-day comment period.
Full Text
<html>
<head>
<title>Federal Register, Volume 88 Issue 55 (Wednesday, March 22, 2023)</title>
</head>
<body><pre>
[Federal Register Volume 88, Number 55 (Wednesday, March 22, 2023)]
[Notices]
[Pages 17222-17224]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-05883]
=======================================================================
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0029; -0112; -0125; -0177]
Agency Information Collection Activities: Proposed Collection
Renewal; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
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 collections described below (OMB Control No.
3064-0029, -0112, -0125, and -0177). The notices of the proposed
renewal for these information collections were previously published in
the Federal Register on January 6, 2023, and February 10, 2023,
allowing for a 60-day comment period.
DATES: Comments must be submitted on or before April 21, 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#f0939f9d9d959e8483b096949993de979f86"><span class="__cf_email__" data-cfemail="54373b3939313a20271432303d377a333b22">[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#7d101e1c1f18071c3d1b19141e531a120b"><span class="__cf_email__" data-cfemail="9df0fefcfff8e7fcddfbf9f4feb3faf2eb">[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: Notification of Performance of Bank Services.
OMB Number: 3064-0029.
Form Number: 6120/06.
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:
Summary of Estimated Annual Burden
[OMB No. 3064-0029]
----------------------------------------------------------------------------------------------------------------
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. Notification of Performance Reporting (On 294 2.21 00:30 325
of Bank Services, 12 CFR Occasion).
304.3 (Mandatory).
---------------------------------------------------------------
Total Annual Burden ................ .............. .............. .............. 325
(Hours):.
----------------------------------------------------------------------------------------------------------------
Source: FDIC.
General Description of Collection: Insured state nonmember banks
are required to notify the FDIC, under section 7 of the Bank Service
Company Act (12 U.S.C. 1867), of the relationship with a bank service
company. The Form FDIC 6120/06, Notification of Performance of Bank
Services, may be used by banks to satisfy the notification requirement.
There is no change in the method or substance of the collection. The
estimated number of respondents, as well as the time per response and
the frequency of response have remained the same.
2. 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).
---------------------------------------------------------------
Total Annual Burden ................ .............. .............. .............. 61,720
(Hours):.
----------------------------------------------------------------------------------------------------------------
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
[[Page 17223]]
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.
3. 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:
Summary of Estimated Annual Burden
[OMB No. 3064-0125]
----------------------------------------------------------------------------------------------------------------
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. 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).
---------------------------------------------------------------
Total Annual Burden ................ .............. .............. .............. 2,571
(Hours):.
----------------------------------------------------------------------------------------------------------------
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.
4. 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:
[[Page 17224]]
Summary of Estimated Annual Burden
[OMB No. 3064-0177]
----------------------------------------------------------------------------------------------------------------
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. 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).
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).
---------------------------------------------------------------
Total Annual Burden ................ .............. .............. .............. 8,337
(Hours):.
----------------------------------------------------------------------------------------------------------------
Source: FDIC.
General Description of Collection: Section 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 Sec.
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 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 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 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 March 17, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023-05883 Filed 3-21-23; 8:45 am]
BILLING CODE 6714-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on March 22, 2023.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.