Justification Memorandum Ohio-Chartered QLT Survey

Federal Deposit Insurance Corporation

550 17th Street NW, Washington, D.C. 20429-9990

550 17th Street NW, Washington, D.C. 20429-9990

November 20, 2017

 

Memorandum to:        Shagufta Ahmed

                                    Policy Analyst 

                                    Office of Information and Regulatory Affairs

                                    Office of Management and Budget

 

From:                Manuel E. Cabeza

Counsel

                                    Federal Deposit Insurance Corporation

 

RE: Ohio-Chartered Qualified Thrift Lender Election Survey

Under its fast-track generic clearance entitled “Occasional Qualitative Surveys” (3064-0127), the FDIC hereby submits for OMB review the generic survey “Ohio-Chartered Qualified Thrift Lender Survey.”

In a recent legislative session, the State of Ohio modified its banking code to provide for a “universal” charter. As a result of this change, effective January 1, 2018, the Ohio banking code will recognize all Ohio-chartered banks, savings and loan associations, and savings banks under one universal “state bank” charter. This change will occur automatically by operation of law. The modified Ohio code also permits existing Ohio-chartered savings and loan associations and savings banks to elect to operate as a state savings and loan association after January 1, 2018, by filing a written notice with the Ohio Superintendent of Financial Institutions.

This survey will be transmitted to savings and loan associations and savings bank chartered by the State of Ohio that are affected by the legislative change. The information will assist FDIC in gauging the effect of this legislation on the financial institution it supervises. The FDIC estimates that approximately 34 institutions will respond to the survey which will be deployed one time.

Annual Estimated Number of respondents: 34

Estimated Time per response: 5 minutes

Total Estimated Annual Burden: 2.83 hours

If you have any questions, please let me know. Thank you for your consideration.