60-day Federal Register Notice

10cNotice18May.pdf

Application for Consent to Exercise Trust Powers

60-day Federal Register Notice

OMB: 3064-0025

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Federal Register / Vol. 75, No. 95 / Tuesday, May 18, 2010 / Notices
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Office of Managing Director.
[FR Doc. 2010–11979 Filed 5–14–10; 4:15 pm]
BILLING CODE 6712–01–S

FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities: Proposed Collection
Renewals; Comment Request

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AGENCY: Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice and request for comment.
SUMMARY: The FDIC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other Federal
agencies to take this opportunity to
comment on continuing information
collections, as required by the
Paperwork Reduction Act of 1995 (44
U.S.C. chapter 35). Currently, the FDIC
is soliciting comments concerning the
following collections of information
titled: Application For Consent to
Exercise Trust Powers (3064–0025), and
Insurance Sales Consumer Protections
(3064–0140).
DATES: Comments must be submitted on
or before July 19, 2010.
ADDRESSES: Interested parties are
invited to submit written comments by
any of the following methods. All
comments should refer to the name and
number of the collection:
• http://www.FDIC.gov/regulations/
laws/federal/notices.html.
• E-mail: [email protected].
Include the name and number of the
collection in the subject line of the
message.
• Mail: Leneta Gregorie (202–898–
3719), Counsel, Federal Deposit

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17:22 May 17, 2010

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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 550 17th Street Building
(located on F Street), on business days
between 7 a.m. and 5 p.m.
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:
Leneta Gregorie (address above).
SUPPLEMENTARY INFORMATION:
1. Title: Application for Consent to
Exercise Trust Powers.
OMB Number: 3064–0025.
Form Number: FDIC 6200/09.
Frequency of Response: On occasion.
Affected Public: Insured State
nonmember banks wishing to exercise
trust powers.
Estimated Number of Respondents:
15.
Estimated Time per Response for
Eligible Depository Institutions: 8 hours.
Estimated Time per Response for
Institutions that do not Qualify as
Eligible Institutions: 24 hours.
Total Annual Burden: 200 hours.
General Description of Collection:
FDIC regulations (12 CFR 333.2)
prohibit any insured State nonmember
bank from changing the general
character of its business without the
prior written consent of the FDIC. The
exercise of trust powers by a bank is
usually considered to be a change in the
general character of a bank’s business if
the bank did not exercise those powers
previously. Therefore, unless a bank is
currently exercising trust powers, it
must file a formal application to obtain
the FDIC’s written consent to exercise
trust powers. State banking authorities,
not the FDIC, grant trust powers to their
banks. The FDIC merely consents to the
exercise of such powers. Applicants use
form FDIC 6200/09 to obtain FDIC’s
consent.
2. Title: Consumer Protections for
Depository Institution Sales of
Insurance.
OMB Number: 3064–0140.
Form Number: None.
Frequency of Response: On occasion.
Affected Public: Insured State
nonmember banks that sell insurance
products; persons who sell insurance
products in or on behalf of insured State
nonmember banks.
Estimated Number of Respondents:
3,740.
Estimated Time per Response: 5
hours.

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Total Annual Burden: 18,700 hours.
General Description of Collection:
Respondents must prepare and provide
certain disclosures to consumers (e.g.,
that insurance products and annuities
are not FDIC-insured) and obtain
consumer acknowledgments, at two
different times: (1) Before the
completion of the initial sale of an
insurance product or annuity to a
consumer; and (2) at the time of
application for the extension of credit (if
insurance products or annuities are
sold, solicited, advertised, or offered in
connection with an extension of credit).
Request for Comment
Comments are invited on: (a) Whether
these 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 information collections on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
At the end of the comment period, the
comments and recommendations
received will be analyzed to determine
the extent to which the collections
should be modified prior to submission
to OMB for review and approval.
Comments submitted in response to this
notice also will be summarized or
included in the FDIC’s requests to OMB
for renewal of these collections. All
comments will become a matter of
public record.
Dated at Washington, DC, this 13th day of
May 2010.
Robert E. Feldman,
Executive Secretary, Federal Deposit
Insurance Corporation.
[FR Doc. 2010–11797 Filed 5–17–10; 8:45 am]
BILLING CODE 6714–01–P

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File Typeapplication/pdf
File TitleDocument
SubjectExtracted Pages
AuthorU.S. Government Printing Office
File Modified2010-05-18
File Created2010-05-18

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