[Federal Register: August 20, 2008 (Volume 73, Number 162)]
[Notices]
[Page 49201-49203]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20au08-59]
=======================================================================
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Submission for OMB
Review; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice of information collections to be submitted to OMB for
review and approval under the Paperwork Reduction Act of 1995.
-----------------------------------------------------------------------
SUMMARY: In accordance with requirements of the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it
is submitting to the Office of Management and Budget (OMB) a request
for OMB review and approval of the information collection systems
described below.
DATES: Comments must be submitted on or before September 19, 2008.
ADDRESSES: Interested parties are invited to submit written comments.
All comments should refer to the name of the collection. Comments may
be submitted by any of the following methods:
http://www.FDIC.gov/regulations/laws/federal/propose.html.
E-mail: comments@fdic.gov.
Mail: Leneta G. Gregorie (202.898.3719), Counsel, Federal
Deposit Insurance Corporation, PA1730-3000, 550 17th Street, NW.,
Washington, DC 20429.
Hand Delivery: Comments may be hand-delivered to the guard
station at the rear of the 550 17th Street Building (located on F
Street), on business days between 7 a.m. and 5 p.m.
A copy of the comments may also be submitted to the FDIC Desk
Officer, Office of Information and Regulatory Affairs, Office of
Management and Budget, New Executive Office Building, Room 10235,
Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Leneta G. Gregorie, at the address
identified above.
SUPPLEMENTARY INFORMATION: Proposal to renew the following currently
approved collection of information:
1. Title: Acquisition Services Information Requirements.
OMB Number: 3064-0072. This OMB Number covers the following forms:
Forms Currently in Use:
FDIC Background Investigation Questionnaire for Contractor
Personnel Management Officials, Form 1600/04 (10-05).
FDIC Contractor Representation and Certifications, Form 3700/04A
(10-05).
FDIC Background Investigation Questionnaire for Contractor, Form
1600/07 (10-05).
FDIC Integrity and Fitness Representations and Certifications, Form
3700/12 (10-05).
FDIC Leasing Representations and Certifications Form 3700/44 (10-
05).
Discontinued Forms in This Collection:
FDIC Notice and Authorization Pertaining to Consumer Reports, Form
1600/10 (10-02) [form removed as a result of determination that it
qualifies as a
[[Page 49202]]
``certification'' or ``consent'' excluded from the definition of
``information''].
Frequency of Response: On occasion.
Affected Public: Any contractors who wish to do business, have done
business, or are currently under contract with the FDIC.
Estimated Number of Respondents and Burden Hours:
----------------------------------------------------------------------------------------------------------------
Number of
FDIC document Hours per unit respondents Burden hours
----------------------------------------------------------------------------------------------------------------
Background Investigation Questionnaire Management (1600/04)..... .33 4,000 1,320
Background Investigation Questionnaire Contractors (1600/07).... .50 200 100
Contractor Representation and Certifications (3700/04A)......... .50 360 180
Integrity and Fitness Representations and Certifications (3700/ .33 360 119
12)............................................................
Leasing Representations and Certifications (3700/44)............ 1.0 35 35
FDIC Past Performance Questionnaire............................. .75 1,080 810
-----------------------------------------------
Total....................................................... .............. 6,035 2,564
----------------------------------------------------------------------------------------------------------------
General Description of Collection: The collection involves the
submission of information on various forms by contractors who wish to
do business, have done business, or are currently under contract with
the FDIC. The information is used to ensure compliance with established
contractor ethics regulations (12 CFR Part 366); obtain information on
a contractor's past performance for proposal evaluation purposes;
review a potential lessor's fitness and integrity prior to entering
into a lease transaction; and perform background investigations on
contractors and contractor personnel.
2. Title: Account Based Disclosures in Connection With Federal
Reserve Regulations E, CC, and DD.
OMB Number: 3064-0084.
Frequency of Response: On occasion.
Affected Public: State chartered banks that are not members of the
Federal Reserve System.
Estimated Number of Respondents: 5,192.
Annual Burden: Regulation E--29,404 hours; Regulation CC--528,513
hours; and Regulation DD--302,434 hours.
One-time Burden: Regulation E--ATM and transaction disclosures--
42,336 hours.
Total Estimated Burden: 902,687 hours.
General Description of Collection: This FDIC information collection
provides for the application of Regulations E (Electronic Fund
Transfers), CC (Availability of Funds), and DD (Truth in Savings) to
State nonmember banks. Regulations E, CC, and DD are issued by the
Federal Reserve Board of Governors (FRB) to ensure, among other things,
that consumers are provided adequate disclosures regarding accounts,
including electronic fund transfer services, availability of funds, and
fees and annual percentage yield for deposit accounts. Generally, the
Regulation E disclosures are designed to ensure consumers receive
adequate disclosure of basic terms, costs, and rights relating to
electronic fund transfer (EFT) services provided to them so that they
can make informed decisions. Institutions offering EFT services must
disclose to consumers certain information, including: Initial and
updated EFT terms, transaction information, the consumer's potential
liability for unauthorized transfers, and error resolution rights and
procedures.
Like Regulation E, Regulation CC has consumer protection disclosure
requirements. Specifically, Regulation CC requires depository
institutions to make funds deposited in transaction accounts available
within specified time periods, disclose their availability policies to
customers, and begin accruing interest on such deposits promptly. The
disclosures are intended to alert customers that their ability to use
deposited funds may be delayed, prevent unintentional (and costly)
overdrafts, and allow customers to compare the policies of different
institutions before deciding at which institution to deposit funds.
Depository institutions must also provide an awareness disclosure
regarding substitute checks. The regulation also requires notice to the
depositary bank and to a customer of nonpayment of a check.
Regulation DD also has similar consumer protection disclosure
requirements that are intended to assist consumers in comparing deposit
accounts offered by institutions, principally through the disclosure of
fees, the annual percentage yield, and other account terms. Regulation
DD requires depository institutions to disclose yields, fees, and other
terms concerning deposit accounts to consumers at account opening, upon
request, and when changes in terms occur. Depository institutions that
provide periodic statements are required to include information about
fees imposed, interest earned, and the annual percentage yield (APY)
earned during those statement periods. It also contains rules about
advertising deposit accounts.
Although the FRB regulations require institutions to retain
evidence of compliance with the disclosure requirements, the
regulations do not specify the types of records that must be retained.
3. Title: Prompt Corrective Action.
OMB Number: 3064-0115.
Frequency of Response: On occasion.
Affected Public: All insured depository institutions.
Estimated Number of Respondents: 19.
Estimated Time per Response: 4 hours.
Total Annual Burden: 76 hours.
General Description of Collection: The Prompt Corrective Action
provisions in Section 38 of the Federal Deposit Insurance Act (12
U.S.C. 1831o) permits and, in some cases requires, the Federal Deposit
Insurance Corporation (FDIC) and other federal banking agencies to take
certain supervisory actions when FDIC-insured institutions fall within
one of five capital categories. They also restrict or prohibit certain
activities and require the submission of a capital restoration plan
when an insured institution becomes undercapitalized.
Request for Comment
Comments are invited on: (a) Whether these 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 estimate 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.
[[Page 49203]]
All comments will become a matter of public record.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, this 15th day of August, 2008.
Valerie Best,
Assistant Executive Secretary.
[FR Doc. E8-19254 Filed 8-19-08; 8:45 am]
BILLING CODE 6714-01-P