40039Federal Register / Vol. 83, No. 156 / Monday, August 13, 2018 / Notices
1 73 FR 44620 (July 31, 2008).
FEDERAL DEPOSIT INSURANCE
CORPORATION
[OMB No. 3064–0165, 0183, and –0196]
Agency Information Collection
Activities: Submission for OMB
Review; Comment Request
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 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
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: comments@fdic.gov. 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,
mcabeza@FDIC.gov, 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
Type of burden Estimated
number of
respondents
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 non-
member banks; insured state branches of
foreign banks; state savings associations;
and certain subsidiaries of these
entities.
Burden Estimate:
SUMMARY OF ANNUAL BURDEN
Estimated
number of
offerings
Estimated
annual
frequency
Estimated
average
hours per
response
Estimated
annual
burden
hours
Disclosure Burden
Subpart B:
§ 373.4 Standard Risk Retention—Horizontal Interest .......................................... 1 1 5.5 5.5
§ 373.4 Standard Risk Retention—Vertical Interest .............................................. 40 1 2.0 80
§ 373.4 Standard Risk Retention—Combined Interest .......................................... 4 1 7.5 30
§ 373.5 Revolving Master Trusts ........................................................................... 15 1 7.0 105
VerDate Sep<11>2014 20:42 Aug 10, 2018 Jkt 244001 PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 E:\FR\FM\13AUN1.SGM 13AUN1
sradovich on DSK3GMQ082PROD with NOTICES
1 73 FR 44620 (July 31, 2008).
FEDERAL DEPOSIT INSURANCE
CORPORATION
[OMB No. 3064–0165, 0183, and –0196]
Agency Information Collection
Activities: Submission for OMB
Review; Comment Request
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 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
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: comments@fdic.gov. 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,
mcabeza@FDIC.gov, 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
Type of burden Estimated
number of
respondents
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 non-
member banks; insured state branches of
foreign banks; state savings associations;
and certain subsidiaries of these
entities.
Burden Estimate:
SUMMARY OF ANNUAL BURDEN
Estimated
number of
offerings
Estimated
annual
frequency
Estimated
average
hours per
response
Estimated
annual
burden
hours
Disclosure Burden
Subpart B:
§ 373.4 Standard Risk Retention—Horizontal Interest .......................................... 1 1 5.5 5.5
§ 373.4 Standard Risk Retention—Vertical Interest .............................................. 40 1 2.0 80
§ 373.4 Standard Risk Retention—Combined Interest .......................................... 4 1 7.5 30
§ 373.5 Revolving Master Trusts ........................................................................... 15 1 7.0 105
VerDate Sep<11>2014 20:42 Aug 10, 2018 Jkt 244001 PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 E:\FR\FM\13AUN1.SGM 13AUN1
sradovich on DSK3GMQ082PROD with NOTICES
40040 Federal Register / Vol. 83, No. 156 / Monday, August 13, 2018 / Notices
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 (3235-
0712) 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.
3 15 U.S.C. 78o–11.
4 Public Law 111–2–3, 124 Stat. 1376 (2010).
SUMMARY OF ANNUAL BURDEN—Continued
Estimated
number of
offerings
Estimated
annual
frequency
Estimated
average
hours per
response
Estimated
annual
burden
hours
§ 373.6 Eligible ABCP Conduits ............................................................................. 15 1 3.0 45
§ 373.7 Commercial MBS ...................................................................................... 15 1 20.75 311.25
§ 373.8 FNMA and FHLMC .................................................................................... 15 1 1.5 22.5
§ 373.9 Open Market CLOs ................................................................................... 15 1 20.25 303.75
§ 373.10 Qualified Tender Option Bonds ............................................................... 15 1 6.0 90
Subpart C:
§ 373.11 Allocation of Risk Retention to an Originator .......................................... 3 1 2.5 7.5
Subpart D:
§ 373.13 and .19(g) Exemption for Qualified Residential Mortgages .................... 13 1 1.25 16.25
§ 373.15 Exemption for Qualifying Commercial Loans, Commercial Real Estate
and Automobile Loans .......................................................................................... 16 1 20.0 320
§ 373.16 Underwriting Standards for Qualifying Commercial Loans ..................... 6 1 1.25 7.5
§ 373.17 Underwriting Standards for Qualifying CRE Loans ................................ 6 1 1.25 7.5
§ 373.18 Underwriting Standards for Qualifying Automobile Loans ...................... 6 1 1.25 7.5
Total Estimated Disclosure Burden ................................................................... .................... .................... .................... 1,359.25
Recordkeeping Burden
Subpart B:
§ 373.4 Standard Risk Retention—Horizontal Interest .......................................... 1 1 0.5 0.5
§ 373.4 Standard Risk Retention—Vertical Interest .............................................. 40 1 0.5 20
§ 373.4 Standard Risk Retention—Combined Interest .......................................... 4 1 0.5 2
§ 373.5 Revolving Master Trusts ........................................................................... 15 1 0.5 7.5
§ 373.6 Eligible ABCP Conduits ............................................................................. 15 1 20.0 300
§ 373.7 Commercial MBS ...................................................................................... 15 1 30.0 450
Subpart C:
§ 373.11 Allocation of Risk Retention to an Originator .......................................... 3 1 20.0 60
Subpart D:
§ 373.13 and .19(g) Exemption for Qualified Residential Mortgages .................... 13 1 40.0 520
§ 373.15 Exemption for Qualifying Commercial Loans, Commercial Real Estate
and Automobile Loans .......................................................................................... 16 1 0.5 8
§ 373.16 Underwriting Standards for Qualifying Commercial Loans ..................... 6 1 40.0 240
§ 373.17 Underwriting Standards for Qualifying CRE Loans ................................ 6 1 40.0 240
§ 373.18 Underwriting Standards for Qualifying Automobile Loans ...................... 6 1 400 240
Total Estimated Recordkeeping Burden ........................................................... .................... .................... .................... 2,088
Total Estimated Annual Burden ................................................................. .................... .................... .................... 3,447.25
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
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
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 asset-
backed securities (ABS) offerings to
qualify for certain exemptions; specifies
the underwriting standards for
VerDate Sep<11>2014 20:42 Aug 10, 2018 Jkt 244001 PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 E:\FR\FM\13AUN1.SGM 13AUN1
sradovich on DSK3GMQ082PROD with NOTICES
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 (3235-
0712) 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.
3 15 U.S.C. 78o–11.
4 Public Law 111–2–3, 124 Stat. 1376 (2010).
SUMMARY OF ANNUAL BURDEN—Continued
Estimated
number of
offerings
Estimated
annual
frequency
Estimated
average
hours per
response
Estimated
annual
burden
hours
§ 373.6 Eligible ABCP Conduits ............................................................................. 15 1 3.0 45
§ 373.7 Commercial MBS ...................................................................................... 15 1 20.75 311.25
§ 373.8 FNMA and FHLMC .................................................................................... 15 1 1.5 22.5
§ 373.9 Open Market CLOs ................................................................................... 15 1 20.25 303.75
§ 373.10 Qualified Tender Option Bonds ............................................................... 15 1 6.0 90
Subpart C:
§ 373.11 Allocation of Risk Retention to an Originator .......................................... 3 1 2.5 7.5
Subpart D:
§ 373.13 and .19(g) Exemption for Qualified Residential Mortgages .................... 13 1 1.25 16.25
§ 373.15 Exemption for Qualifying Commercial Loans, Commercial Real Estate
and Automobile Loans .......................................................................................... 16 1 20.0 320
§ 373.16 Underwriting Standards for Qualifying Commercial Loans ..................... 6 1 1.25 7.5
§ 373.17 Underwriting Standards for Qualifying CRE Loans ................................ 6 1 1.25 7.5
§ 373.18 Underwriting Standards for Qualifying Automobile Loans ...................... 6 1 1.25 7.5
Total Estimated Disclosure Burden ................................................................... .................... .................... .................... 1,359.25
Recordkeeping Burden
Subpart B:
§ 373.4 Standard Risk Retention—Horizontal Interest .......................................... 1 1 0.5 0.5
§ 373.4 Standard Risk Retention—Vertical Interest .............................................. 40 1 0.5 20
§ 373.4 Standard Risk Retention—Combined Interest .......................................... 4 1 0.5 2
§ 373.5 Revolving Master Trusts ........................................................................... 15 1 0.5 7.5
§ 373.6 Eligible ABCP Conduits ............................................................................. 15 1 20.0 300
§ 373.7 Commercial MBS ...................................................................................... 15 1 30.0 450
Subpart C:
§ 373.11 Allocation of Risk Retention to an Originator .......................................... 3 1 20.0 60
Subpart D:
§ 373.13 and .19(g) Exemption for Qualified Residential Mortgages .................... 13 1 40.0 520
§ 373.15 Exemption for Qualifying Commercial Loans, Commercial Real Estate
and Automobile Loans .......................................................................................... 16 1 0.5 8
§ 373.16 Underwriting Standards for Qualifying Commercial Loans ..................... 6 1 40.0 240
§ 373.17 Underwriting Standards for Qualifying CRE Loans ................................ 6 1 40.0 240
§ 373.18 Underwriting Standards for Qualifying Automobile Loans ...................... 6 1 400 240
Total Estimated Recordkeeping Burden ........................................................... .................... .................... .................... 2,088
Total Estimated Annual Burden ................................................................. .................... .................... .................... 3,447.25
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
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
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 asset-
backed securities (ABS) offerings to
qualify for certain exemptions; specifies
the underwriting standards for
VerDate Sep<11>2014 20:42 Aug 10, 2018 Jkt 244001 PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 E:\FR\FM\13AUN1.SGM 13AUN1
sradovich on DSK3GMQ082PROD with NOTICES