Final (30-Day) Federal Register Notice

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Federal Register / Vol. 86, No. 226 / Monday, November 29, 2021 / Notices
Interested parties are
invited to submit written comments to
the FDIC by any of the following
methods:
• 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 (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 building
(located on F Street), 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/

ADDRESSES:

FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities: Proposed Collection
Renewal; Comment Request [OMB No.
3064–0025; –0028; –0134]
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Agency information collection
activities: Submission for OMB Review;
comment request.
AGENCY:

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.
3064–0025; –0028; and –0134).
DATES: Comments must be submitted on
or before December 29, 2021.
SUMMARY:

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: Application for Consent to
Exercise Trust Powers.
OMB Number: 3064–0025.
Form Number: 6200–09.
Affected Public: Insured state
nonmember banks wishing to exercise
trust powers.
Burden Estimate:

TABLE 1—SUMMARY OF ESTIMATED ANNUAL BURDENS
[OMB No. 3064–0025]
Number of
responses per
respondent

IC description

Type of burden
(obligation to respond)

Frequency of
response

Eligible depository institutions ..........

Reporting (Required to obtain or
retain a benefit) ...............................
Reporting (Required to obtain or
retain a benefit) ...............................

On occasion .........

6

1

8

48

On occasion .........

1

1

24

24

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

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

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

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

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

72

Not-eligible depository institutions ...
Total Annual Burden Hours ......

Number of
respondents

Hours per
response

Annual burden
(hours)

Source: FDIC.

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 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. There is no change in the
methodology or substance of this
information collection. The decrease in
total estimated annual burden from 168
hours in 2018 to 72 hours currently is

due to economic factors as reflected in
the decrease in estimated number of
respondents.
2. Title: Recordkeeping and
Confirmation Requirements for
Securities Transactions
OMB Number: 3064–0028.
Form Number: None.
Affected Public: FDIC-Insured
Institutions and Certain Employees of
the FDIC-Insured Institutions.
Burden Estimate:

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SUMMARY OF ANNUAL BURDEN
Estimated
number of
respondents

Information collection description

Type of burden

Obligation to
respond

Maintain Securities Trading Policies and Procedures .............
Officer/Employee Filing of Reports of Personal Securities
Trading Transactions—344.9 (assumes 5 officers/employees at each institution with income from securities broker
activity).

Recordkeeping
Third-Party
Disclosure.

Mandatory ......
Mandatory ......

Total Estimated Annual Burden:
8,983 hours.
General Description of Collection: The
collection of information requirements
are contained in 12 CFR part 344. The
purpose of the regulation is to ensure

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Jkt 256001

that purchasers of securities in
transactions affected by insured state
nonmember banks are provided with
adequate records concerning the
transactions. The regulation is also
designed to ensure that insured state

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Estimated
frequency of
responses

691
2,073

1
4

Estimated time
per response
(hour)

Estimated
annual burden
(hours)

1
1

691
8,292

nonmember banks maintain adequate
records and controls with respect to the
securities transactions they effect.
Finally, this regulation requires officers
and employees of FDIC-supervised
institutions to report to the FDIC

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Federal Register / Vol. 86, No. 226 / Monday, November 29, 2021 / Notices

supervised institution certain personal
securities trading activity.
Sections 344.4, 344.5, and 344.6 refer
to reporting and third party disclosure
burdens associated with confirmation of
securities transactions. The FDIC
assumes that banks automate
notifications to customers of securities
transactions, and would automate these
notifications even if 12 CFR 344 were
not in place. The automation includes
the recordkeeping and disclosure of the
confirmation of securities transactions.
As such, FDIC believes that the
activities associated with sections 344.4,
344.5, and 344.6 are all done in the
ordinary course business, and do not
represent PRA burden.
Potential respondents to this IC are all
FDIC-supervised institutions that effect
securities transactions for customers.
Respondents include institutions that
conduct securities transactions
themselves or that conduct securities
transactions through a broker/dealer. To
estimate the annual number of
respondents, FDIC referenced the
number of FDIC-supervised institutions
that reported exercising fiduciary
powers as of the first quarter of 2021,1
which is reported on item 2 of Call
Report Schedule RC–T.
As of March 31, 2021, 691 FDICsupervised institutions reported
exercising fiduciary powers.2 These 691
entities are subject to the PRA
requirements in 12 CFR 344.8. Thus,
FDIC estimates 691 respondents to the
line items corresponding to this section.
In the previous renewal of this
information collection, the FDIC
estimated 680 respondents to this IC;
this estimate was derived by counting
the number of FDIC-supervised
institutions with income from securities
brokerage activity. The increase in the
estimated number of respondents from
680 to 691 is a result of a change in
estimation methodology due to a change

in the call report reporting
requirements.3
The line item corresponding to 12
CFR 344.9 applies to officers and
employees of FDIC-supervised
institutions who ‘‘make investment
recommendations or decisions for the
accounts of customers; participate in the
determination of such recommendations
or decisions; or in connection with their
duties, obtain information concerning
which securities are being purchased or
sold or recommend such action.’’ 5
Excluded from this requirement are
‘‘transactions for the benefit of the
officer or employee over which the
officer or employee has no direct or
indirect influence or control;
transactions in registered investment
company shares; transactions in
government securities; and all
transactions involving in the aggregate
$10,000 or less during the calendar
quarter.’’ 6 The FDIC does not currently
have access to data on how many
officers or employees are required to
report trading activities in which they
have a beneficial interest in accordance
with Section 344.9. In the estimate for
the previous ICR, it was assumed that
five officers or employees per FDICsupervised institution affected by this IC
who would respond to this line item.
Based on supervisory experience, FDIC
believes that most of the smaller FDICsupervised institutions do not have any
personnel subject to Section 344.9.7
Accordingly, FDIC has reduced the
assumed number of officers or
employees per FDIC-supervised
institution who would respond to this
line item from five to three. FDIC
therefore estimates 2,073 respondents
per year to this line item.8 This estimate
constitutes a decrease of 1,327 in the
estimated annual number of
respondents to this IC.
Section 344.8 requires FDICsupervised institutions to establish

processes and procedures for assigning
responsibility for supervising employees
and officers who are involved with
processing, documenting, and executing
securities transactions for customers,
and for ensuring equitable treatment of
parties to a security transaction, and of
customers who submit orders for the
same security or securities at
approximately the same time. Policies
and procedures are generally reviewed
and updated annually. FDIC therefore
estimate one response per respondent to
this line item as FDIC believes that
institutions are more likely to update
their policies and procedures annually
rather than monthly. This estimate
represents a decrease of 11 responses
per respondent.
FDIC has also revised its estimate of
the time required to respond to the
requirements of Section 344.8 to one
hour per response. This estimate
represents an increase of 0.75 hours per
response from the estimate included in
the 2018 renewal and is based on the
FDIC’s experience with this information
collection. FDIC estimates one hour per
response for the burden related to
Section 344.9. This estimate represents
a decrease of 0.5 hours per response
from the estimate included in the 2018
renewal and is also based on the FDIC’s
experience with this information
collection.
The total estimated annual burden for
this information collection is 8,983
hours, which is a decrease of 56,297
hours from the estimate included in the
previous renewal.
3. Title: Customer Assistance Forms.
OMB Number: 3064–0134.
Form Numbers: 6422–04; –6422/11;
6422/15.
Affected Public: Individuals,
Households, Business or Financial
Institutions.

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SUMMARY OF ANNUAL BURDEN
Estimated
number of
respondents

Information collection description

Type of burden

Obligation to
respond

Customer Assistance Form (6422/04) .....................................
Business Assistance Form (6422/11) ......................................
FDIC Deposit Insurance Form (6422/15) .................................

Reporting .......
Reporting .......
Reporting .......

Voluntary ........
Voluntary ........
Voluntary ........

Total Estimated Annual Burden:
1,468 hours.
Burden Estimate:
General Description of Collection:
This collection facilitates the collection
of information from customers of
1 RIS

variable TREXER.
Call Report data, March 2021.

2 FDIC

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Estimated
average
frequency of
response

4,737
225
911

financial institutions that have inquiries
or complaints about service. Customers
or businesses may document their
complaints or inquiries to the FDIC
using a letter or optional forms (Form
6422/04; Form 6422/11; Form 6422/15).

1
1
1

PO 00000

CFR 344.9(a).
CFR 344.96b.

Frm 00035

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Estimated
annual burden
(hours)

0.25
0.25
0.25

1,184
56
228

The Forms are used to facilitate online
completion and submission of the
complaints or inquiries and to shorten
FDIC response times by making it easier
to identify the nature of the complaint
and to route the customer or business

5 12
61

Estimated time
per response
(hours)

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67709

Federal Register / Vol. 86, No. 226 / Monday, November 29, 2021 / Notices
inquiry to the appropriate FDIC contact.
There is no change in the method or
substance of the collection. The overall
reduction in burden hours is the result
of economic fluctuation.
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.
Dated at Washington, DC, this 22nd day of
November 2021.
Federal Deposit Insurance Corporation.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021–25813 Filed 11–26–21; 8:45 am]
BILLING CODE 6714–01–P

FEDERAL DEPOSIT INSURANCE
CORPORATION
[OMB No. 3064–0212]

Agency Information Collection
Activities: Proposed Collection
Amendment; Comment Request
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Agency information collection
activities: Submission for OMB review;
comment request.
AGENCY:

The FDIC seeks to continue
its engagement and collaboration with
innovators in the financial, non-

SUMMARY:

financial, and technology sectors to,
among other things, identify, develop
and promote technology-driven
innovations among community and
other banks in a manner that ensures the
safety and soundness of FDICsupervised and -insured institutions. An
innovation pilot program framework can
provide a regulatory environment in
which the FDIC, in conjunction with
individual proposals collected from
innovators, including banks, will
provide tailored regulatory and
supervisory assistance, when
appropriate, to facilitate the testing of
innovative and advanced technologies,
products, services, systems, or activities.
As part of an innovation pilot program,
innovators may request information
from banks and other members of the
public outside of their normal course of
business. Any information provided by
banks and other members of the public
will be provided on a voluntary basis.
FDIC staff may similarly request
information on a voluntary basis from
banks or other members of the public to
evaluate the products or services
developed in the pilot programs. The
FDIC invites the general public,
including persons who may have an
interest in participating in innovation
pilot programs, and other Federal
agencies to comment on the agency’s
collection of information that may result
from innovators obtaining information
from banks and other members of the
public in connection with innovation
pilot programs, as required by the
Paperwork Reduction Act of 1995. On
September 22, 2021 and September 28,
2021, the FDIC published notices in the
Federal Register requesting comment
for 60 days on a proposal to amend this
information collection. One comment
was received but did not indicate any
changes to be made to the information
collection. The FDIC hereby gives notice
of its plan to submit to OMB a request
to approve the amended information
collection, and again invites comment.

Comments must be submitted on
or before December 29, 2021.
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 of the collection in the subject
line of the message.
• Mail: Jennifer Jones (202–898–
6768), Counsel, MB–3078, 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), 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:
Jennifer Jones, Counsel, 202–898–6768,
[email protected], MB–3078, Federal
Deposit Insurance Corporation, 550 17th
Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION: Proposal
to amend the following currently
approved collection of information:
1. Title: Information Collection for
Innovation Pilot Programs.
OMB Number: 3064–0212.
Form Number: None.
Affected Public: FDIC-supervised and
-insured institutions and other members
of the public that provide information to
innovators in connection with
innovation pilot programs.
Burden Estimate:
DATES:

khammond on DSKJM1Z7X2PROD with NOTICES

SUMMARY OF ANNUAL BURDEN
Information collection description

Type of
burden

Obligation
to
respond

Innovation Pilot Programs—Burden on Banks
and Other Members of the Public.

Reporting ..

Voluntary ...

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

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

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

General Description of Collection: The
FDIC seeks to engage and collaborate
with innovators in the financial, nonfinancial, and technology sectors to,
among other things, identify, develop

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Estimated
number of
respondents

Estimated
frequency of
responses

Estimated time
per response

Estimated
annual burden
(hours)

400

On Occasion

100

40,000

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

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

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

40,000

and promote technology-driven
innovations among community and
other banks in a manner that ensures the
safety and soundness of FDICsupervised and -insured institutions. An

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innovation pilot program framework
will provide a regulatory environment
in which the FDIC, in conjunction with
individual proposals collected from
innovators, will provide tailored

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