Agency Information Collection Activities: Proposed Collection Renewal; Comment Request

CourtFederal Deposit Insurance Corporation
Citation87 FR 16184
Published date22 March 2022
Record Number2022-05953
Federal Register, Volume 87 Issue 55 (Tuesday, March 22, 2022)
[Federal Register Volume 87, Number 55 (Tuesday, March 22, 2022)]
                [Notices]
                [Pages 16184-16186]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2022-05953]
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                FEDERAL DEPOSIT INSURANCE CORPORATION
                [OMB No. 3064-0095; -0117]
                Agency Information Collection Activities: Proposed Collection
                Renewal; Comment Request
                AGENCY: Federal Deposit Insurance Corporation (FDIC).
                ACTION: Agency information collection activities: Submission for OMB
                review; comment request.
                -----------------------------------------------------------------------
                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.
                3064-0095; and -0117). The notice of the proposed renewal for these
                information collections was previously published in the Federal
                Register on January 25, 2022, allowing for a 60-day comment period.
                DATES: Comments must be submitted on or before April 21, 2022.
                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/index.html.
                 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.
                 Written comments and recommendations for the proposed information
                collection should be sent within 30 days of publication of this notice
                to www.reginfo.gov/public/do/PRAMain. 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, [email protected], MB-3128, Federal Deposit Insurance
                Corporation, 550 17th Street NW, Washington, DC 20429.
                SUPPLEMENTARY INFORMATION:
                 Proposal to renew the following currently approved collections of
                information:
                 1. Title: Procedures for Monitoring Bank Protection Act Compliance
                 OMB Number: 3064-0095.
                 Form Number: None.
                 Affected Public: Insured state nonmember banks.
                 Burden Estimate:
                [[Page 16185]]
                 Summary of Estimated Annual Burdens
                 [OMB No. 3064-0095]
                --------------------------------------------------------------------------------------------------------------------------------------------------------
                 Number of
                 IC Description Type of burden Frequency of response Number of responses per Hours per Annual burden
                 (obligation to respond) respondents respondent response (hours)
                --------------------------------------------------------------------------------------------------------------------------------------------------------
                Implementation Burden:
                Bank Protection Act Compliance Recordkeeping............ Annually................ 35 1 50 1,750
                 Program--Institutions with an (Mandatory)..............
                 Asset Size Less than $500 million.
                Bank Protection Act Compliance Recordkeeping............ Annually................ 57 1 300 17,100
                 Program--Medium-Sized Institutions (Mandatory)..............
                 ($500 million--$10 billion).
                Bank Protection Act Compliance Recordkeeping............ Annually................ 12 1 500 6,000
                 Program--Large Institutions (Over (Mandatory)..............
                 $10 billion).
                Ongoing Burden:
                Bank Protection Act Compliance Recordkeeping............ Annually................ 2,880 1 5 14,400
                 Program--Routine Revisions. (Mandatory)..............
                Bank Protection Act Compliance Recordkeeping............ Annually................ 320 1 35 11,200
                 Program--Significant Revisions. (Mandatory)..............
                 ---------------------------------------------------------------
                 Total Annual Burden Hour:.. ......................... ........................ .............. .............. .............. 50,450
                --------------------------------------------------------------------------------------------------------------------------------------------------------
                Source: FDIC.
                 General Description of Collection: The collection requires insured
                state nonmember banks to comply with the Bank Protection Act and to
                review bank security programs The Bank Protection Act of 1968 (12
                U.S.C. 1881-1884) requires each Federal supervisory agency to
                promulgate rules establishing minimum standards for security devices
                and procedures to discourage financial crime and to assist in the
                identification of persons who commit such crimes. To avoid the
                necessity of constantly updating a technology-based regulation, the
                FDIC takes a flexible approach to implementing this statute. It
                requires each insured nonmember bank to designate a security officer
                who will administer a written security program. The security program
                must: (1) Establish procedures for opening and closing for business and
                for safekeeping valuables; (2) establish procedures that will assist in
                identifying persons committing crimes against the bank; (3) provide for
                initial and periodic training of employees in their responsibilities
                under the security program; and (4) provide for selecting, testing,
                operating and maintaining security devices as prescribed in the
                regulation. In addition, the FDIC requires the security officer to
                report at least annually to the bank's board of directors on the
                effectiveness of the security program.
                 There is no change in the method or substance of the collection.
                The 48,683 increase in burden hours is the result of the agency re-
                evaluating the time it takes for recordkeeping and reporting associated
                with the rule, and including new implementation burdens for new
                entities and entities reviewing their policies in light of mergers and
                other organizational changes.
                 2. Title: Mutual-to-Stock Conversion of State Savings Banks.
                 OMB Number: 3064-0117.
                 Form Numbers: None.
                 Affected Public: Insured state savings associations.
                 Burden Estimate:
                 Summary of Estimated Annual Burden
                 [OMB No. 3064-0117]
                --------------------------------------------------------------------------------------------------------------------------------------------------------
                 Type of burden (obligation to Number of Hours per Annual burden
                 Information collection description respond) Frequency of response respondents response (hours)
                --------------------------------------------------------------------------------------------------------------------------------------------------------
                Application or Notice to engage in Reporting.................... On occasion.................. 5 250 1,250
                 certain activities.
                 --------------------------------------------------
                 Total Annual Burden (Hours).... ............................. ............................. ............... ............... 1,250
                --------------------------------------------------------------------------------------------------------------------------------------------------------
                Source: FDIC.
                 General Description of Collection: State savings associations must
                file a notice of intent to convert to stock form, and provide the FDIC
                with copies of documents filed with state and federal banking and/or
                securities regulators in connection with any proposed mutual-to-stock
                conversion. There is no change in the method or substance of the
                collection.
                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.
                [[Page 16186]]
                 Dated at Washington, DC, on March 15, 2022.
                James P. Sheesley,
                Assistant Executive Secretary.
                [FR Doc. 2022-05953 Filed 3-21-22; 8:45 am]
                BILLING CODE 6714-01-P
                

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