2015 Spst 0097

SUPPORTING STATEMENT

INTERAGENCY NOTICE OF CHANGE IN DIRECTOR

OR EXECUTIVE OFFICER

OMB No. 3064-0097

INTRODUCTION

The FDIC is requesting OMB approval to renew the above captioned collection of information. OMB approval for the collection expires on August 31, 2015.

The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (“FIRREA”) requires an insured depository institution to notify the appropriate federal banking agency of the proposed addition of any individual to the board of directors or the employment of any individual as a senior executive officer of such institution at least 30 days before such addition or employment becomes effective, if the insured depository institution (a) became insured or has undergone a change in control within the past two years or (b) is not in compliance with the applicable capital requirements or is otherwise in a troubled condition. This collection of information implements that provision of law.

A. JUSTIFICATION

1. Circumstance and Need

Section 32 of the FDI Act (12 U.S.C. 183li), provides that the FDIC may disapprove an individual’s service as a director or senior executive officer of certain state nonmember banks (as defined above) if upon assessing the individual’s competence, experience, character and integrity it is determined that the individual’s service would not be in the best interest of the depositors of the bank or the public. The Notice with a financial form as an attachment is used by the FDIC to collect information relevant to assess the individual’s competence, experience, character, and integrity.

2. Use of Information Collected

The information is used by the FDIC for assessing the general character of individuals wishing to serve as directors or senior executive officers of the specified state nonmember banks as defined above. The FDIC’s evaluation of these individuals is required by statute.

3. Use of Technology to Reduce Burden

No technology is involved in the preparation of the report. The report is the personal financial and biographical statement of the submitter.

4. Efforts to Identify Duplication

There is no duplication of reporting. Each report is a unique personal financial and biographical statement of the individual submitter.

5. Minimizing the Burden on Small Banks

All individuals filing notice to serve as a director or a senior executive officer of the class of state nonmember banks defined above are subject to the same reporting requirements. The information is the minimum needed by the FDIC to assess the general character of the submitter.

6. Consequence of Less Frequent Collection

The information is reported only once by the individual.

7. Special Circumstances

None.

8. Consultation with Persons Outside the FDIC

A Federal Register notice seeking comment was published on April 10, 2015 (80 FR 19318). No comments were received.

9. Payment or Gift to Respondents

None.

10. Confidentiality

The “Privacy Act Statement” disclosed on the notice advises the respondent of possible uses of portions of the information. Disclosure to other parties is generally exempted under Section 552(b) of the Freedom of Information Act.

11. Information of a Sensitive Nature

No question of a sensitive nature is included in this collection.

12. Estimate of Annual Burden

The new number of respondents is estimated to be approximately 325, a decrease of 515 from the previously-approved burden. The respondents each submit the report only once. The average burden time remains estimated at 2 hours per report. Therefore, the total new annual burden is estimated as 325 x 2 = 650 hours, a decrease of 1030 hours from the currently-approved burden.

13. Capital, Start-Up, Operating, and Maintenance Costs

None.

14. Estimates of Annualized Cost to the Federal Government

None.

15. Reason for Change in Burden

This change is based on actual new applications received in 2012, 2013, 2014, and 2015,, the new estimated annual number of respondents is 325.

16. Publication

There is no publication of the information collected.

17. Display of Expiration Date

Will be displayed.

18. Exceptions to Certification

None.

B. STATISTICAL METHODS

Not applicable.

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