Notice2024-08021
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
April 19, 2024
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 collection described below (OMB Control No. 3064-0015).
Full Text
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<title>Federal Register, Volume 89 Issue 77 (Friday, April 19, 2024)</title>
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[Federal Register Volume 89, Number 77 (Friday, April 19, 2024)]
[Notices]
[Pages 29245-29246]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-08021]
Federal Register / Vol. 89, No. 77 / Friday, April 19, 2024 /
Notices
[[Page 29245]]
FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0015]
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 collection described below (OMB Control No.
3064-0015).
DATES: Comments must be submitted on or before June 18, 2024.
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#e784888a8a82899394a781838e84c9808891"><span class="__cf_email__" data-cfemail="b8dbd7d5d5ddd6cccbf8dedcd1db96dfd7ce">[email protected]</span></a>. Include the name and number of
the collection in the subject line of the message.
<bullet> Mail: Michelle Mire, Senior Attorney, 202-898-7377,
<a href="/cdn-cgi/l/email-protection#95f8f8fce7f0d5f3f1fcf6bbf2fae3"><span class="__cf_email__" data-cfemail="fa979793889fba9c9e9399d49d958c">[email protected]</span></a>, MB-3072, 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 a.m. and 5 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: Michelle Mire, Senior Attorney, 202-
898-7377, <a href="/cdn-cgi/l/email-protection#89e4e4e0fbecc9efede0eaa7eee6ff"><span class="__cf_email__" data-cfemail="cca1a1a5bea98caaa8a5afe2aba3ba">[email protected]</span></a>, MB-3072, 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: Interagency Bank Merger Application.
OMB Number: 3064-0015.
Form Number: 6220/01.
Affected Public: FDIC-insured depository institutions.
Burden Estimate:
Summary of Annual Burden
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Estimated Estimated time Estimated
Information collection description Type of burden Obligation to respond number of Estimated frequency per response annual burden
respondents of responses (hours) (hours)
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Interagency Bank Merger Act Reporting............ Mandatory............ 103 On Occasion.......... 19 1,957
Application--Affiliated
Transactions.
Interagency Bank Merger Act Reporting............ Mandatory............ 117 On Occasion.......... 33 3,861
Application--Nonaffiliated
Transactions.
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Total Estimated Annual Burden: 5,818.
General Description of Collection: Section 18(c) of the Federal
Deposit Insurance Act (FDI Act) requires an insured depository
institution (IDI) that wishes to merge or consolidate with any other
IDI or, either directly or indirectly, acquire the assets of, or assume
liability to pay any deposits made in, any other IDI, to apply for the
prior written approval of the responsible agency (the FDIC; the Board
of Governors of the Federal Reserve (FRB); or the Office of the
Comptroller of the Currency (OCC)).\1\ Section 18(c) further requires
FDIC approval in connection with any merger transaction involving an
IDI and a non-insured entity.
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\1\ 12 U.S.C. 1828(c). The FDIC is the responsible agency if the
acquiring, assuming, or resulting bank is to be a State nonmember
insured bank or a State savings association.
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The Interagency Bank Merger Act Application Form (Application Form)
is used by the FDIC, the FRB, and the OCC for applications under
section 18(c) of the FDI Act. The Application Form may be used for any
merger transaction subject to section 18(c). There is a different level
of burden for each of the two types of merger transactions,
nonaffiliated and affiliated. An affiliate transaction refers to a
merger, consolidation, other combination, or transfer of any deposit
liabilities, between an IDI and another entity controlled by the same
parent company, regardless of whether the other entity is FDIC-insured.
It includes a business combination between an IDI and an affiliated
interim institution. Applicants proposing affiliate transactions are
not required to complete questions 12 through 14 of the Application
Form. If the merging entities are not controlled by the same parent
company, the merger transaction is considered nonaffiliated, and the
applicant must complete the entire application form.
The FDIC Supplement to the Interagency Bank Merger Act Application
Form (Supplement) requires each applicant to provide information that
delineates the relevant geographic market(s) and describes the
competition in the relevant geographic market(s). The information
collected focuses on the relevant geographic market(s) where the
applicant and the entity to be acquired provide banking products or
services. The Supplement includes specific instructions to facilitate a
comprehensive competitive analysis relative to transactions between
nonaffiliated entities.
Proposed Changes to the FDIC Supplement
The proposed edits to the Supplement would make certain changes to
the required information that would be applicable to all merger
transactions that require FDIC approval. The revised Supplement
clarifies that the delineation of the relevant geographic market(s)
includes offices where customers may access a substantial share of
banking products or services, which extend beyond deposits to include
loans and private wealth management services, among other examples.
The delineation of the relevant geographic market(s) includes the
county, municipality, or census tract where both the applicant and
target entity operate offices and provide products and services, as
well as the alternate areas where customers may practically turn for
products and services. The revised Supplement includes additional
details regarding lists of products and services, including the number
and dollar volume of deposits and loans.
To enhance the analysis of the potential competitive effects in the
relevant geographic market(s), the revised Supplement also seeks
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information regarding non-FDIC insured entities (such as credit
unions), as well as other entities that do not take deposits (such as
finance companies or government agencies). Specific requests for
additional information beyond the items articulated in the Supplement
may be made to an applicant depending on the structure and nature of
the proposed transaction. The proposed form can be viewed at <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/2024/2024-bank-merger-act-supplement-clean.pdf">https://www.fdic.gov/resources/regulations/federal-register-publications/2024/2024-bank-merger-act-supplement-clean.pdf</a>; and the revisions to the
form can be viewed at <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/2024/2024-bank-merger-act-supplement-redline.pdf">https://www.fdic.gov/resources/regulations/federal-register-publications/2024/2024-bank-merger-act-supplement-redline.pdf</a>.
The changes to the Supplement results in a 234-hour increase in
burden hours for applicants required to file the Supplement with the
FDIC.
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 estimate 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; (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; (e)
whether the FDIC should require additional information for transactions
over a certain threshold (such as when the resulting IDI's total assets
exceed $100 billion), and if so, what information should be requested;
and (f) whether the FDIC should streamline the Supplement to limit the
information provided when the application is filed, and only seek
additional information, as needed, depending on the nature of the
transaction, and if so, how should the Supplement be streamlined. All
comments will become a matter of public record.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on April 11, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-08021 Filed 4-18-24; 8:45 am]
BILLING CODE 6714-01-P
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