Foreign Banking and Investment by Insured State Nonmember Banks

Forms and Documents

Document Name	Status
FR2 0125 - Foreign Banking Investment by Insured SNBs 85 FR 37656 June 23 2020.pdf Supplementary Document	2020-06-23
FR1 0125 - Foreign Banking Investment by Insured SNBs 85 FR 20688 April 14 2020.pdf Supplementary Document	2020-06-18
SPST 0125 Foreign Banking and Investment by SNBs 2020 FINAL.docx Supporting Statement A	2020-06-18

IC Document Collections

IC ID	Document Title	Status
31930	Notices or applications to establish, move, or close a foreign branch (303.182)	Modified
226069	Document policies and procedures for supervision of foreign activities (347.116)	Modified
226068	Notice of foreign divestiture of foreign organization (303.183(d))	Modified
226066	Filings by insured state nonmember banks to invest in, or divest in interest in, a foreign organization (303.183)	Modified
226064	Merger transactions involving foreign organizations (303.183(b))	Modified
226062	Filings to invest in foreign organizations, or to engage in certain activities through foreign organizations (303.183(b)) and/or 303.121)	Modified
226061	Filings for authorization for foreign branch to engage in activities other than those permitted under 347.115 (303.121)	Modified
182341	Prior notice (45 days) of foreign branch establishment (303.182(b))	Removed

ICR Details

OMB Control No: 3064-0125	ICR Reference No: 202003-3064-011
Status: Active	Previous ICR Reference No: 201703-3064-003
Agency/Subagency: FDIC	Agency Tracking No:
Title: Foreign Banking and Investment by Insured State Nonmember Banks
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/24/2020
	Date Received in OIRA: 06/23/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2023	36 Months From Approved	07/31/2020
Responses	18	0	29
Time Burden (Hours)	4,172	0	8,178
Cost Burden (Dollars)	0	0	0

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Abstract: The Federal Deposit Insurance (FDI) Act requires state nonmember banks to obtain FDIC consent to establish or operate a foreign branch, or to acquire and hold, directly or indirectly, stock or other evidence of ownership in any foreign bank or other entity. The FDI Act also authorizes the FDIC to impose conditions for such consent and to issue regulations related thereto. This collection is a direct consequence of those statutory requirements.

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Authorizing Statute(s): US Code: 12 USC 1828(d)(2) and ( l) Name of Law: Federal Deposit Insurance Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 20688	04/14/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 37656	06/23/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 7

IC Title	Form No.	Form Name
Filings by insured state nonmember banks to invest in, or divest in interest in, a foreign organization (303.183)
Prior notice (45 days) of foreign branch establishment (303.182(b))
Filings for authorization for foreign branch to engage in activities other than those permitted under 347.115 (303.121)
Filings to invest in foreign organizations, or to engage in certain activities through foreign organizations (303.183(b)) and/or 303.121)
Notice of foreign divestiture of foreign organization (303.183(d))
Merger transactions involving foreign organizations (303.183(b))
Document policies and procedures for supervision of foreign activities (347.116)
Notices or applications to establish, move, or close a foreign branch (303.182)

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	18	29	0	0	-11	0
Annual Time Burden (Hours)	4,172	8,178	0	0	-4,006	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 06/23/2020

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