60-Day Federal Register Notice

Federal Register / Vol. 81, No. 185 / Friday, September 23, 2016 / Notices
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 information collection 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.
Dated at Washington, DC, this 20th day of
September, 2016.
Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2016–22954 Filed 9–22–16; 8:45 am]
BILLING CODE P

FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities: Proposed Collection
Renewals; Comment Request (3064–
0025, –0057, –0140 & –0176)
Federal Deposit Insurance
Corporation (FDIC).

AGENCY:

ACTION:

Notice and request for comment.

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 the renewal of existing
information collections, as required by
the Paperwork Reduction Act of 1995
(44 U.S.C. 3501, et seq.). Currently, the
FDIC is soliciting comment on the
renewal of the information collections
described below.
DATES: Comments must be submitted on
or before November 22, 2016.
ADDRESSES: Interested parties are
invited to submit written comments to
the FDIC by any of the following
methods:
• http://www.FDIC.gov/regulations/
laws/federal/.
• Email: [email protected]. Include
the name and number of the collection
in the subject line of the message.
• Mail: Manny Cabeza (202–898–
3767), Counsel, MB–3007, 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 Building
(located on F Street), on business days
between 7:00 a.m. and 5:00 p.m.
SUMMARY:

65643

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, at the FDIC address
above.
Proposal
to renew the following currentlyapproved collections of information:
1. Title: Application for Consent to
Exercise Trust Powers.
OMB Number: 3064–0025.
Form Number: FDIC 6200/09.
Affected Public: Insured state
nonmember banks wishing to exercise
trust powers.
Annual Number of Respondents: 12.

SUPPLEMENTARY INFORMATION:

BURDEN ESTIMATE

sradovich on DSK3GMQ082PROD with NOTICES

Estimated
number of
responses

Hours per
response

Frequency of
response

Estimated
burden

Eligible depository institutions .......................................................................
Not-eligible depository institutions ................................................................

8
4

8
24

On Occasion .....
On Occasion .....

64
96

Totals .....................................................................................................

12

........................

...........................

160

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: Certified Statement for
Quarterly Deposit Insurance
Assessment.

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18:22 Sep 22, 2016

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OMB Number: 3064–0057.
Affected Public: FDIC-insured
depository institutions.
Estimated Number of Respondents:
6,081.
Frequency of Response: Quarterly.
Estimated Annual Burden Hours per
Response: 20 minutes.
Total Estimated Annual Burden:
8,108 hours.
General Description of Collection: The
FDIC collects deposit insurance
assessments on a quarterly basis. Each
assessment is based on the institution’s
quarterly report of condition for the
prior calendar quarter. The FDIC
collects the quarterly payments by
means of direct debits through the
Automated Clearing House network.
The collection dates for the first period
of any given year (January through June)
are June 30 and September 30 of the
current year. The collection dates for the

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second period (July through December)
are December 30 of the current year and
March 30 of the following year. The
information collection consists of
recordkeeping associated with reviews
by officials of the insured institutions to
confirm that the assessment data are
accurate and, in cases of inaccuracy,
submission of corrected data.
The FDIC is requesting OMB to
approve the change of the name of the
collection from Certified Statement for
Semiannual Deposit Insurance
Assessment to Quarterly Certified
Statement Invoice for Deposit Insurance
Assessment to reflect the fact that
deposit insurance assessment invoices
are issued on a quarterly as opposed to
a semiannual basis.
3. Title: Insurance Products Consumer
Protections.
OMB Number: 3064–0140.

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65644

Federal Register / Vol. 81, No. 185 / Friday, September 23, 2016 / Notices

Affected Public: Insured State
nonmember banks and savings
associations that sell insurance

products; persons who sell insurance
products in or on behalf of insured State

nonmember banks and savings
associations.

BURDEN ESTIMATE
Estimated
number of
responses

Average
number of
responses

Hours per
response

Frequency of
response

Estimated
burden

Revising and Updating Disclosures ..................................
Disclosures to Consumers ................................................

2,729
2,729

1
240

1
0.1667

Annually ............
On Occasion .....

2,729
10,916

Total Estimated Burden .............................................

........................

........................

........................

...........................

13,645

General Description: 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).

4. Title: Reverse Mortgage Products.
OMB Number: 3064–0176.
Affected Public: Insured State
nonmember banks and savings
associations.
Estimated Number of Respondents:
26.1

BURDEN ESTIMATE:

sradovich on DSK3GMQ082PROD with NOTICES

Number of
respondents

Hours per
response

Frequency

Total burden
hours

Implementation .............................................................................................
Ongoing ........................................................................................................

1
25

40
8

Annually ............
Annually ............

40
200

Total .......................................................................................................

26

........................

...........................

240

General Description: In August, 2010,
the Office of the Comptroller of the
Currency (OCC), Board of Governors of
the Federal Reserve System (FRB) the
National Credit Union Administration
(NCUA) and the FDIC, issued guidance
focusing on the need to provide
adequate information to consumers
about reverse mortgage products; to
provide qualified independent
counseling to consumers considering
these products; and to avoid potential
conflicts of interest. The guidance also
addressed related policies, procedures,
internal controls, and third party risk
management. Prior to the effective date
of the final guidance, the Agencies
obtained PRA approval from OMB for
the information collection requirements
contained therein. These information
collection requirements included
implementation of policies and
procedures, training, and program
maintenance. The requirements are
outlined below:
• Institutions offering reverse
mortgages should have written policies
and procedures that prohibit the
practice of directing a consumer to a
particular counseling agency or
contacting a counselor on the
consumer’s behalf.
1 FDIC estimates that the number of respondents
will be 26 (25 that have already implemented the

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18:22 Sep 22, 2016

Jkt 238001

• Policies should be clear so that
originators do not have an inappropriate
incentive to sell other products that
appear linked to the granting of a
mortgage.
• Legal and compliance reviews
should include oversight of
compensation programs so that lending
personnel are not improperly
encouraged to direct consumers to
particular products.
• Training should be designed so that
relevant lending personnel are able to
convey information to consumers about
product terms and risks in a timely,
accurate, and balanced manner.

use of automated collection techniques
or other forms of information
technology. All comments will become
a matter of public record.
Dated at Washington, DC, this 20th day of
September 2016.
Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2016–22953 Filed 9–22–16; 8:45 am]
BILLING CODE P

FEDERAL DEPOSIT INSURANCE
CORPORATION

Request for Comment

Sunshine Act Meeting

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 collections of information,
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

Pursuant to the provisions of the
‘‘Government in the Sunshine Act’’ (5
U.S.C. 552b), notice is hereby given that
at 3:53 p.m. on Tuesday, September 20,
2016, the Board of Directors of the
Federal Deposit Insurance Corporation
met in closed session to consider
matters related to the Corporation’s
supervision and resolution activities.
In calling the meeting, the Board
determined, on motion of Vice
Chairman Thomas M. Hoenig, seconded
by Director Richard Cordray (Director,
Consumer Financial Protection Bureau),

program and now only face the ongoing compliance
burden and one (1) as a placeholder for any new

institution that would be required to implement the
guidance requirements.

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