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Each depositor insured to at least $250,000 per insured bank

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FDIC Federal Register Citations
[Federal Register: May 23, 2005 (Volume 70, Number 98)]
[Page 29510-29512]
From the Federal Register Online via GPO Access []



Agency Information Collection Activities: Submission for OMB
Review; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of information collection 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
plans to submit to the Office of Management and Budget (OMB) a request
for OMB review and approval of the information collection system
described below.

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: Include ``Deposit Broker Processing, 3064-0143''
in the subject line of the message.
 Mail: Leneta G. Gregorie (202-898-3719), Counsel, Room MB-3082,

[[Page 29511]]

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 desk
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
identified above.

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 insured
    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 institution is
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 persons
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 individual
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 to
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
control number.


[Frequency of Response: occasional]

empty cell empty Burden per response Number of responses Burden hours
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
5 minutes
The burden will vary depending on the broker's
number of brokered accounts.
45 minutes............

5 hours.................

1 minute...............

53 responses (75% of 70 annual responses).
18 responses (25% of 70 annual responses).




Subtotal .......... empty cell empty cell  empty cell 137

[Frequency of response: occasional]

Form No.  Form title Hours Respondents Burden Hours
7200/03 Declaration for Testamentary Deposit (Single Grantor) .50 1000 500 
7200/04 Declaration for Public Unit Deposit .50 500 250 
7200/05 Declaration for Trust .50 1100 550 
7200/06 Declaration of Independent Activity .50 25 12.5
7200/07 Declaration of Independent Activity for Unicorporated Association .50 25 12.5
7200/08 Declaration for Joint Ownership Deposit .50 25 12.5
7200/09 Declaration for Testamentary Deposit (Multiple Grantors) .50 500 250
7200/10 Declaration for Defined Contribution Plan 1.0 50 50
7200/11 Declaration for IRA/KEOGH Deposit .50 50 25
7200/12 Declaration for Defined Benefit Plan 1.0 200 200
7200/13 Declaration of Custodian Deposit .50 50 25
7200/14 Declaration for Health and Welfare Plan 1.0 200 200
7200/15 Declaration for Plan and Trust .50 1300 650
Subtotal empty empty 5025 2738

Request 90 for Comment

    Comments are invited on: (a) Whether the collection of information
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,
Executive Secretary.
[FR Doc. 05-10220 Filed 5-20-05; 8:45 am]


Last Updated 05/23/2005

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