FDIC Federal Register Citations
[Federal Register: May 23, 2005 (Volume
70, Number 98)]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
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
plans to submit to the Office of Management and Budget (OMB) a request
for OMB review and approval of the information collection system
DATES: Comments must be submitted on or before June 22, 2005.
ADDRESSES: Interested parties are invited to submit written comments.
All comments should refer to ``Deposit Broker Processing, 3064-0143.''
Comments may be submitted by any of the following methods:
E-mail: email@example.com. Include ``Deposit
Broker Processing, 3064-0143''
in the subject line of the message. Mail: Leneta G. Gregorie (202-898-3719), Counsel, Room MB-3082,
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 a.m. and 5 p.m.
A copy of the comments should also be submitted to the OMB
officer for the FDIC: Mark Menchik, Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, DC 20503, or by electronic mail
FOR FURTHER INFORMATION CONTACT: Leneta G. Gregorie at the address
SUPPLEMENTARY INFORMATION: Proposal to revise the following currently
approved collection of information:
Title: Deposit Broker Processing.
OMB Number: 3064-0143.
Frequency of Response: On occasion.
Affected Public: Deposit brokers and depositors of failed
Estimated Number of Responses: See chart below.
Estimated Time per Response: See chart below.
Estimated Total Annual Burden: 2875 hours.
General Description of Collection: When an insured
closed by its primary regulatory authority, the FDIC has the
responsibility to pay the insured claims of the failed bank depositors
pursuant to the Federal Deposit Insurance Act and the FDIC's Deposit
Insurance Coverage regulation, 12 CFR part 330. Generally, deposits are
insured to a maximum of $100,000. This maximum coverage is based on
``ownership rights and capacities.'' All deposits that are maintained
in the same right and capacity are added together and insured up to
$100,000 in accordance with the regulations relating to deposit
insurance of that particular deposit insurance ownership category.
Deposits held in different ownership categories are eligible for
$100,000 coverage per category. For example, as a general rule, single-
ownership accounts are separately insured from trust accounts held for
the benefit of others.
In order to assist the FDIC in paying deposit insurance to
who had deposited funds in a failed depository institution through a
deposit broker, the FDIC requests deposit brokers who opened a deposit
account in a failed institution to provide the FDIC with information
about the parties for whom the broker acted as agent and the amounts of
their deposits. An essential element of this collection is an
electronic file from every broker that provides information about its
customers and their accounts, including: Each customer's name, address,
tax identification number, and ownership interest in the account;
principal balance of the account; and interest earned on the account.
The FDIC also has developed forms to assist in determining account
ownership and the availability of ``pass-through'' deposit insurance
coverage where the account balance exceeds $100,000. The FDIC form
numbers are 7200/03, /04, /05, /06, /07, /08, /09, /10, /11, /12, /13,
/14, and /15.
The FDIC uses these same forms to determine whether
account holders at failed institutions may receive pass-through deposit
insurance coverage. The FDIC's use of these forms for individuals has
been approved by OMB under PRA control number 3064-0150 (expires
September 30, 2007).
In order to facilitate public access to the common forms and
improve administrative efficiency, the FDIC proposes to consolidate the
two OMB approved collections into a single collection titled, ``Forms
Relating to Processing Deposit Insurance Claims,'' under the 3064-0143
DEPOSIT BROKERS ONLY
[Frequency of Response: occasional]
empty cell empty
Burden per response
Number of responses
Deposit Broker Submission
Checklist Diskette, following ``Broker Input File The burden
will vary Requirements.''.
Exhibit B, the standard agency
agreement, or the non-standard agency
The burden will vary depending on the broker's
number of brokered accounts.
53 responses (75% of 70 annual responses).
18 responses (25% of 70 annual responses).
empty cell empty cell
COMBINED DEPOSIT BROKERS AND INDIVIDUALS
[Frequency of response: occasional]
Testamentary Deposit (Single Grantor)
Declaration for Public Unit Deposit
Declaration for Trust
Declaration of Independent Activity
Declaration of Independent Activity for
Declaration for Joint Ownership Deposit
Declaration for Testamentary Deposit
Declaration for Defined Contribution Plan
Declaration for IRA/KEOGH Deposit
Declaration for Defined Benefit Plan
Declaration of Custodian Deposit
Declaration for Health and Welfare Plan
Declaration for Plan and Trust
Request 90 for Comment
Comments are invited on: (a) Whether the collection of
is necessary for the proper performance of the FDIC's functions,
including whether the information has practical utility; (b) the
accuracy of the estimates 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. All
comments will become a matter of public record.
Dated at Washington, DC, this 18th day of May, 2005.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
[FR Doc. 05-10220 Filed 5-20-05; 8:45 am]