30-Day Federal Register Notice

40039

Federal Register / Vol. 83, No. 156 / Monday, August 13, 2018 / Notices
FEDERAL DEPOSIT INSURANCE
CORPORATION
[OMB No. 3064–0165, 0183, and –0196]

Agency Information Collection
Activities: Submission for OMB
Review; Comment Request
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice and request for comment.
AGENCY:

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.
The FDIC published a notice of its
intent to renew the information
collections described below in the
Federal Register and requested
comment for 60 days. No comments
were received. The FDIC hereby gives
notice of its plan to submit to OMB a

SUMMARY:

request to approve the renewal of these
collections, and again invites comment
on the renewal.
DATES: Comments must be submitted on
or before September 12, 2018.
ADDRESSES: Interested parties are
invited to submit written comments to
the FDIC by any of the following
methods:
• Agency Website: https://
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, Counsel,
Room 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.
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, Counsel, 202–898–3767,
[email protected], MB–3007, 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: Interagency Supervisory
Guidance for the Supervisory Review
Process of Capital Adequacy (Pillar 2)
Related to the Implementation of the
Basel II Advanced Capital Framework.
OMB Number: 3064–0165.
Form Number: None.
Affected Public: Insured state
nonmember banks and certain
subsidiaries of these entities.
Burden Estimate:

SUMMARY OF ANNUAL BURDEN
Estimated
number of
respondents

Type of burden

Estimated time
per response

Frequency of
response

Total annual
estimated
burden hours

Pillar 2 Guidance ..................................................

Record Keeping ............

2

105 hours .......

Quarterly ........

840

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

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

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

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

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

840

General Description of Collection:
There has been no change in the method
or substance of this information
collection. The number of institutions
subject to the record keeping
requirements has decreased from eight
(8) to two (2). In 2008 the Office of the
Comptroller of the Currency, the Board
of Governors of the Federal Reserve
System and the FDIC issued a
supervisory guidance document related
to the supervisory review process of
capital adequacy (Pillar 2) in connection
with the implementation of the Basel II
Advanced Capital Framework.1 Sections

37, 41, 43 and 46 of the guidance
include possible information
collections. Section 37 provides that
banks should state clearly the definition
of capital used in any aspect of its
internal capital adequacy assessment
process (ICAAP) and document any
changes in the internal definition of
capital. Section 41 provides that banks
should maintain thorough
documentation of its ICAAP. Section 43
specifies that the board of directors
should approve the bank’s ICAAP,
review it on a regular basis and approve
any changes. Section 46 recommends

that boards of directors periodically
review the assessment of overall capital
adequacy and analyze how measures of
internal capital adequacy compare with
other capital measures such as
regulatory or accounting.
2. Title: Credit Risk Retention.
OMB Number: 3064–0183.
Form Number: None.
Affected Public: Insured state nonmember banks; insured state branches of
foreign banks; state savings associations;
and certain subsidiaries of these
entities.
Burden Estimate:

SUMMARY OF ANNUAL BURDEN

sradovich on DSK3GMQ082PROD with NOTICES

Estimated
number of
offerings

Estimated
average
hours per
response

Estimated
annual
frequency

Estimated
annual
burden
hours

Disclosure Burden
Subpart B:
§ 373.4
§ 373.4
§ 373.4
§ 373.5
1 73

Standard Risk Retention—Horizontal Interest ..........................................
Standard Risk Retention—Vertical Interest ..............................................
Standard Risk Retention—Combined Interest ..........................................
Revolving Master Trusts ...........................................................................

1
40
4
15

1
1
1
1

FR 44620 (July 31, 2008).

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5.5
2.0
7.5
7.0

5.5
80
30
105

40040

Federal Register / Vol. 83, No. 156 / Monday, August 13, 2018 / Notices
SUMMARY OF ANNUAL BURDEN—Continued
Estimated
number of
offerings

§ 373.6 Eligible ABCP Conduits .............................................................................
§ 373.7 Commercial MBS ......................................................................................
§ 373.8 FNMA and FHLMC ....................................................................................
§ 373.9 Open Market CLOs ...................................................................................
§ 373.10 Qualified Tender Option Bonds ...............................................................
Subpart C:
§ 373.11 Allocation of Risk Retention to an Originator ..........................................
Subpart D:
§ 373.13 and .19(g) Exemption for Qualified Residential Mortgages ....................
§ 373.15 Exemption for Qualifying Commercial Loans, Commercial Real Estate
and Automobile Loans ..........................................................................................
§ 373.16 Underwriting Standards for Qualifying Commercial Loans .....................
§ 373.17 Underwriting Standards for Qualifying CRE Loans ................................
§ 373.18 Underwriting Standards for Qualifying Automobile Loans ......................
Total Estimated Disclosure Burden ...................................................................

Estimated
average
hours per
response

Estimated
annual
frequency

Estimated
annual
burden
hours

15
15
15
15
15

1
1
1
1
1

3.0
20.75
1.5
20.25
6.0

45
311.25
22.5
303.75
90

3

1

2.5

7.5

13

1

1.25

16.25

16
6
6
6

1
1
1
1

20.0
1.25
1.25
1.25

320
7.5
7.5
7.5

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

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

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

1,359.25

1
40
4
15
15
15

1
1
1
1
1
1

0.5
0.5
0.5
0.5
20.0
30.0

0.5
20
2
7.5
300
450

3

1

20.0

60

Recordkeeping Burden
Subpart B:
§ 373.4 Standard Risk Retention—Horizontal Interest ..........................................
§ 373.4 Standard Risk Retention—Vertical Interest ..............................................
§ 373.4 Standard Risk Retention—Combined Interest ..........................................
§ 373.5 Revolving Master Trusts ...........................................................................
§ 373.6 Eligible ABCP Conduits .............................................................................
§ 373.7 Commercial MBS ......................................................................................
Subpart C:
§ 373.11 Allocation of Risk Retention to an Originator ..........................................
Subpart D:
§ 373.13 and .19(g) Exemption for Qualified Residential Mortgages ....................
§ 373.15 Exemption for Qualifying Commercial Loans, Commercial Real Estate
and Automobile Loans ..........................................................................................
§ 373.16 Underwriting Standards for Qualifying Commercial Loans .....................
§ 373.17 Underwriting Standards for Qualifying CRE Loans ................................
§ 373.18 Underwriting Standards for Qualifying Automobile Loans ......................

13

1

40.0

520

16
6
6
6

1
1
1
1

0.5
40.0
40.0
400

8
240
240
240

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

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

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

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

2,088

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

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

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

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

3,447.25

sradovich on DSK3GMQ082PROD with NOTICES

There has been no change in the
method or substance of this information
collection. The above burden estimate is
derived from the Federal regulatory
agencies’ estimate that there are
currently approximately 1,400 annual
offerings subject to the Credit Risk
Retention rule (12 CFR part 373).2
General Description of Collection:
This information collection request
relates to the disclosure and
recordkeeping requirements of 12 CFR
part 373 (the Credit Risk Retention Rule)
which implements section 15G of the
2 The methodology and assumptions used to
estimate burden are explained in detail in the
agencies’ supporting statements for their respective
Credit Risk Retention information collections. For
example, see, FDIC (3064–0183) available at https://
www.reginfo.gov/public/do/PRAView
Document?ref_nbr=201501-3064-002 SEC (32350712) available at https://www.reginfo.gov/public/
do/PRAViewDocument?ref_nbr=201803-3235-014
and the OCC 1557-0249) available at https://
www.reginfo.gov/public/do/PRAView
Document?ref_nbr=201804-1557-004.

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Securities Exchange Act of 1934,3 added
by section 941 of the Dodd-Frank Wall
Street Reform and Consumer Protection
Act 4 (Section 941). The Credit Risk
Retention Rule was jointly issued by the
Federal Deposit Insurance Corporation
(‘‘FDIC’’), the Office of the Comptroller
of the Currency (‘‘OCC’’), the Federal
Reserve Board (‘‘Board’’), the Securities
and Exchange Commission
(‘‘Commission’’) and, with respect to the
portions of the Rule addressing the
securitization of residential mortgages,
the Federal Housing Finance Agency
(‘‘FHFA’’) and the Department of
Housing and Urban Development
(‘‘HUD’’).
Section 941 requires the Board, the
FDIC, the OCC (collectively, the
‘‘Federal banking agencies’’), the
Commission and, in the case of the
securitization of any ‘‘residential
3 15

U.S.C. 78o–11.
Law 111–2–3, 124 Stat. 1376 (2010).

4 Public

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mortgage asset,’’ together with HUD and
FHFA, to jointly prescribe regulations
that (i) require a securitizer to retain not
less than five percent of the credit risk
of any asset that the securitizer, through
the issuance of an asset-backed security
(‘‘ABS’’), transfers, sells or conveys to a
third party, and (ii) prohibit a
securitizer from directly or indirectly
hedging or otherwise transferring the
credit risk that the securitizer is
required to retain under section 941 and
the agencies’ implementing rules.
The Credit Risk Retention Rule
provides a menu of credit risk retention
options from which securitizers can
choose and sets out the standards,
including disclosure and recordkeeping
requirements, for each option; identifies
the eligibility criteria, including
certification and disclosure
requirements, that must be met for assetbacked securities (ABS) offerings to
qualify for certain exemptions; specifies
the underwriting standards for

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Federal Register / Vol. 83, No. 156 / Monday, August 13, 2018 / Notices
commercial real estate (CRE) loans,
commercial loans and automobile loans,
as well as disclosure, certification and
recordkeeping requirements, that must
be met for ABS issuances collateralized
by such loans to qualify for reduced
credit risk retention; and sets forth the
circumstances under which retention
obligations may be allocated by
sponsors to originators, including
disclosure and monitoring
requirements.
The recordkeeping requirements
relate primarily to (i) the adoption and
maintenance of various policies and
procedures to ensure and monitor

compliance with regulatory
requirements and (ii) certifications,
including as to the effectiveness of
internal supervisory controls. The
required disclosures for each risk
retention option are intended to provide
investors with material information
concerning the sponsor’s retained
interest in a securitization transaction
(e.g., the amount, form and nature of the
retained interest, material assumptions
and methodology, representations and
warranties). The agencies believe that
the disclosure and recordkeeping
requirements will enhance market

40041

discipline, help ensure the quality of the
assets underlying a securitization, and
assist investors in evaluating
transactions.
3. Title: Disclosure Requirements
Associated with the Supplementary
Leverage Ratio.
OMB Number: 3064–0196.
Form Number: None.
Affected Public: Insured state
nonmember banks and state savings
associations that are subject to the
FDIC’s advanced approaches risk-based
capital rules.
Burden Estimate:

SUMMARY OF ANNUAL BURDEN
Estimated
number of
respondents

sradovich on DSK3GMQ082PROD with NOTICES

Type of burden

Estimated time
per response

Frequency of
response

Total Annual
estimated
burden hours

12 CFR 324.172 and 173 ....................................

Disclosure .....................

2

5 hours ...........

Quarterly ........

40

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

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

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

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

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

40

There has been no change in the
method or substance of this information
collection. The number of institutions
subject to the disclosure requirements
has decreased from eight (8) to two (2).
General Description of Collection: The
supplementary leverage ratio
regulations strengthen the definition of
total leverage exposure and improve the
measure of a banking organization’s onand off-balance sheet exposures. The
rules are generally consistent with the
Basel Committee on Banking
Supervision’s 2014 revisions and
promote consistency in the calculation
of this ratio across jurisdictions. All
banking organizations that are subject to
the advanced approaches risk-based
capital rules5 are required to disclose
their supplementary leverage ratios.6
Advanced approaches banking
organizations must report their
supplementary leverage ratios on the
applicable regulatory reports. The
calculation and disclosure requirements
for the supplementary leverage ratio in
the federal banking agencies’ regulatory
capital rules are generally consistent
with international standards published
by the Basel Committee on Banking
Supervision. These disclosures enhance
the transparency and consistency of
reporting requirements for the
supplementary leverage ratio by all
internationally active organizations.
Request for Comment: Comments are
invited on: (a) Whether the collection of
information is necessary for the proper
performance of the FDIC’s functions,
5 12
6 12

CFR 324.100(b)(1).
CFR 324.10(c), 324.172(d), and 324.173.

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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.
Dated at Washington, DC, on August 8,
2018.
Robert E. Feldman,
Executive Secretary, Federal Deposit
Insurance Corporation.
[FR Doc. 2018–17264 Filed 8–10–18; 8:45 am]
BILLING CODE 6714–01–P

FEDERAL MARITIME COMMISSION
Notice of Agreements Filed
The Commission hereby gives notice
of the filing of the following agreements
under the Shipping Act of 1984.
Interested parties may submit comments
on the agreements to the Secretary by
email at [email protected], or by mail,
Federal Maritime Commission,
Washington, DC 20573, within twelve
days of the date this notice appears in
the Federal Register. Copies of the
agreements are available through the
Commission’s website (www.fmc.gov) or
by contacting the Office of Agreements

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at (202)–523–5793 or tradeanalysis@
fmc.gov.
Agreement No.: 012460–002.
Agreement Name: COSCO Shipping/
PIL/WHL Vessel Sharing and Slot
Charter Agreement.
Parties: COSCO Shipping Lines Co.,
Ltd.; Pacific International Lines (PTE)
Ltd.; Wan Hai Lines (Singapore) Pte.
Ltd.; and Wan Hai Lines Ltd.
Filing Party: Eric Jeffrey; Nixon
Peabody.
Synopsis: The amendment changes
the capacity and port rotation of the
shared string and updates the slot
exchanges among the Parties.
Proposed Effective Date: 8/3/2018.
Location: https://www2.fmc.gov/
FMC.Agreements.Web/Public/
AgreementHistory/1948.
Agreement No.: 011707–014.
Agreement Name: Gulf/South
America Discussion Agreement.
Parties: BBC Chartering & Logistics
GmbH & Co. KG and BBC Chartering
Carriers GmbH & Co. KG (acting as a
single party); Industrial Maritime
Carriers, L.L.C.; and Seaboard Marine
Ltd.
Filing Party: Wade S. Hooker,
Attorney.
Synopsis: The amendment deletes
Caytrans BBC LLC as a party to the
Agreement.
Proposed Effective Date: 7/31/2018.
Location: https://www2.fmc.gov/
FMC.Agreements.Web/Public/
AgreementHistory/684.
Agreement No.: 201248–001.
Agreement Name: COSCO SHIPPING/
PIL/WHL Vessel Sharing and Slot
Exchange Agreement.

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