Agency Information Collection Activities: Proposed Collection Renewal; Comment Request
| Published date | 11 March 2024 |
| Record Number | 2024-05115 |
| Citation | 89 FR 17467 |
| Court | Federal Deposit Insurance Corporation |
| Section | Notices |
Federal Register, Volume 89 Issue 48 (Monday, March 11, 2024)
[Federal Register Volume 89, Number 48 (Monday, March 11, 2024)]
[Notices]
[Pages 17467-17468]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-05115]
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FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0097; -0115]
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.
3064-0097 and -0115).
DATES: Comments must be submitted on or before May 10, 2024.
ADDRESSES: Interested parties are invited to submit written comments to
the FDIC by any of the following methods:
Agency Website: https://www.fdic.gov/resources/regulations/federal-register-publications/.
Email: [email protected]. Include the name and number of
the collection in the subject line of the message.
Mail: Manny Cabeza (202-898-3767), Regulatory Counsel, MB-
3128, Federal Deposit Insurance Corporation, 550 17th Street NW,
Washington, DC 20429.
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, [email protected], 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: Interagency Notice of Change in Director or Executive
Officer.
OMB Number: 3064-0097.
Forms: 6822/02.
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:
Summary of Estimated Annual Burden
[OMB No. 3064-0097]
----------------------------------------------------------------------------------------------------------------
Type of burden Number of Time per
Information collection (IC) (frequency of Number of responses per response Annual burden
(obligation to respond) response) respondents respondent (HH:MM) (hours)
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1. Interagency Notice of Reporting (On 23 2.7 02:00 124
Change in Director or Occasion).
Executive Officer, 12 USC
1831i (Mandatory).
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Total Annual Burden ................ .............. .............. .............. 124
(Hours).
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Source: FDIC.
General Description of Collection: Section 32 of the FDIA (12
U.S.C. 1831i) requires an insured depository institution or depository
institution holding company under certain circumstances to notify the
appropriate federal banking agency of the proposed addition of any
individual to the board of directors or the employment of any
individual as a senior executive officer of such institution at least
30 days before such addition or employment becomes effective. Section
32 of the FDIA also provides that the FDIC may disapprove an
individual's service as a director or senior executive officer of
certain state nonmember banks or state savings associations if, upon
assessing
[[Page 17468]]
the individual's competence, experience, character, and integrity, it
is determined that the individual's service would not be in the best
interest of the depositors of the institution or the public. The
Interagency Notice of Change in Director or Senior Executive Officer,
with the information contained in the Interagency Biographical and
Financial Report (described above) as an attachment, is used by the
FDIC to collect information relevant to assess the individual's
competence, experience, character, and integrity. There is no change in
the methodology or substance of this information collection. The
reduction in estimated annual burden (from 214 hours in 2021 to 124
hours currently) is due to the decrease in the estimated number of
annual responses.
2. Title: Prompt Corrective Action.
OMB Number: 3064-0115.
Affected Public: Insured state nonmember banks and state savings
associations.
Burden Estimate:
Summary of Estimated Annual Burden
[OMB No. 3064-0115]
----------------------------------------------------------------------------------------------------------------
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)
----------------------------------------------------------------------------------------------------------------
Prompt Corrective Action, 12 Reporting 4 4 04:00 64
USC 1831o (Voluntary). (Annual).
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Total Annual Burden ................ .............. .............. .............. 64
(Hours).
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Source: FDIC.
General Description of Collection: The Prompt Corrective Action
(PCA) provisions of section 38 of the Federal Deposit Insurance Act
requires or permits the FDIC and other federal banking agencies to take
certain supervisory actions when FDIC-insured institutions fall within
certain capital categories. They also restrict or prohibit certain
activities and require the submission of a capital restoration plan
when an insured institution becomes undercapitalized. Various
provisions of the statute and the FDIC's implementing regulations
require the prior approval of the FDIC before an FDIC-supervised
institution, or certain insured depository institutions, can engage in
certain activities, or allow the FDIC to make exceptions to
restrictions that would otherwise be imposed. This collection of
information consists of the applications that are required to obtain
the FDIC's prior approval to engage in these activities. There is no
change in the methodology or substance of this information collection.
The estimated burden remains unchanged from 2021.
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 March 6, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-05115 Filed 3-8-24; 8:45 am]
BILLING CODE 6714-01-P
