67707Federal Register / Vol. 86, No. 226 / Monday, November 29, 2021 / Notices
FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities: Proposed Collection
Renewal; Comment Request [OMB No.
3064–0025; –0028; –0134]
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.
3064–0025; –0028; and –0134).
DATES: 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:
• https://www.FDIC.gov/regulations/
laws/federal.
• Email: comments@fdic.gov. 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/
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, mcabeza@fdic.gov, 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]
IC description Type of burden
(obligation to respond) Frequency of
response Number of
respondents
Number of
responses per
respondent
Hours per
response Annual burden
(hours)
Eligible depository institutions .......... Reporting (Required to obtain or
retain a benefit) ...............................
On occasion ......... 6 1 8 48
Not-eligible depository institutions ... Reporting (Required to obtain or
retain a benefit) ...............................
On occasion ......... 1 1 24 24
Total Annual Burden Hours ...... .......................................................... ............................... ........................ ........................ ........................ 72
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:
SUMMARY OF ANNUAL BURDEN
Information collection description Type of burden Obligation to
respond
Estimated
number of
respondents
Estimated
frequency of
responses
Estimated time
per response
(hour)
Estimated
annual burden
(hours)
Maintain Securities Trading Policies and Procedures ............. Recordkeeping Mandatory ...... 691 1 1 691
Officer/Employee Filing of Reports of Personal Securities
Trading Transactions—344.9 (assumes 5 officers/employ-
ees at each institution with income from securities broker
activity).
Third-Party
Disclosure.
Mandatory ...... 2,073 4 1 8,292
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
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
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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khammond on DSKJM1Z7X2PROD with NOTICES
FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities: Proposed Collection
Renewal; Comment Request [OMB No.
3064–0025; –0028; –0134]
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.
3064–0025; –0028; and –0134).
DATES: 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:
• https://www.FDIC.gov/regulations/
laws/federal.
• Email: comments@fdic.gov. 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/
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, mcabeza@fdic.gov, 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]
IC description Type of burden
(obligation to respond) Frequency of
response Number of
respondents
Number of
responses per
respondent
Hours per
response Annual burden
(hours)
Eligible depository institutions .......... Reporting (Required to obtain or
retain a benefit) ...............................
On occasion ......... 6 1 8 48
Not-eligible depository institutions ... Reporting (Required to obtain or
retain a benefit) ...............................
On occasion ......... 1 1 24 24
Total Annual Burden Hours ...... .......................................................... ............................... ........................ ........................ ........................ 72
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:
SUMMARY OF ANNUAL BURDEN
Information collection description Type of burden Obligation to
respond
Estimated
number of
respondents
Estimated
frequency of
responses
Estimated time
per response
(hour)
Estimated
annual burden
(hours)
Maintain Securities Trading Policies and Procedures ............. Recordkeeping Mandatory ...... 691 1 1 691
Officer/Employee Filing of Reports of Personal Securities
Trading Transactions—344.9 (assumes 5 officers/employ-
ees at each institution with income from securities broker
activity).
Third-Party
Disclosure.
Mandatory ...... 2,073 4 1 8,292
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
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
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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khammond on DSKJM1Z7X2PROD with NOTICES
67708 Federal Register / Vol. 86, No. 226 / Monday, November 29, 2021 / Notices
1 RIS variable TREXER.
2 FDIC Call Report data, March 2021.
5 12 CFR 344.9(a).
6 1 CFR 344.96b.
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 FDIC-
supervised 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 FDIC-
supervised institution affected by this IC
who would respond to this line item.
Based on supervisory experience, FDIC
believes that most of the smaller FDIC-
supervised 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 FDIC-
supervised 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.
SUMMARY OF ANNUAL BURDEN
Information collection description Type of burden Obligation to
respond
Estimated
number of
respondents
Estimated
average
frequency of
response
Estimated time
per response
(hours)
Estimated
annual burden
(hours)
Customer Assistance Form (6422/04) ..................................... Reporting ....... Voluntary ........ 4,737 1 0.25 1,184
Business Assistance Form (6422/11) ...................................... Reporting ....... Voluntary ........ 225 1 0.25 56
FDIC Deposit Insurance Form (6422/15) ................................. Reporting ....... Voluntary ........ 911 1 0.25 228
Total Estimated Annual Burden:
1,468 hours.
Burden Estimate:
General Description of Collection:
This collection facilitates the collection
of information from customers of
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).
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
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khammond on DSKJM1Z7X2PROD with NOTICES
1 RIS variable TREXER.
2 FDIC Call Report data, March 2021.
5 12 CFR 344.9(a).
6 1 CFR 344.96b.
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 FDIC-
supervised 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 FDIC-
supervised institution affected by this IC
who would respond to this line item.
Based on supervisory experience, FDIC
believes that most of the smaller FDIC-
supervised 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 FDIC-
supervised 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.
SUMMARY OF ANNUAL BURDEN
Information collection description Type of burden Obligation to
respond
Estimated
number of
respondents
Estimated
average
frequency of
response
Estimated time
per response
(hours)
Estimated
annual burden
(hours)
Customer Assistance Form (6422/04) ..................................... Reporting ....... Voluntary ........ 4,737 1 0.25 1,184
Business Assistance Form (6422/11) ...................................... Reporting ....... Voluntary ........ 225 1 0.25 56
FDIC Deposit Insurance Form (6422/15) ................................. Reporting ....... Voluntary ........ 911 1 0.25 228
Total Estimated Annual Burden:
1,468 hours.
Burden Estimate:
General Description of Collection:
This collection facilitates the collection
of information from customers of
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).
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
VerDate Sep<11>2014 16:55 Nov 26, 2021 Jkt 256001 PO 00000 Frm 00035 Fmt 4703 Sfmt 4703 E:\FR\FM\29NON1.SGM 29NON1
khammond on DSKJM1Z7X2PROD with NOTICES