FEDERAL DEPOSIT INSURANCE CORPORATION
[OMB No. 3064-0103; -0163]
Agency Information Collection Activities: Proposed Collection Renewal; Comment
Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
SUMMARY: The FDIC, as part of its obligations under the Paperwork Reduction Act
of 1995, invites the general public and other Federal agencies to take this opportunity to
comment on the request to renew the existing information collections described below
(OMB Control No. 3064-0103, and -0163). The notice of the proposed renewal for these
information collections were previously published in the Federal Register on March 20,
2024 and March 25, 2024, allowing for a 60-day comment period.
DATES: Comments must be submitted on or before [INSERT DATE 30 DAYS AFTER
DATE OF PUBLICATION IN THE FEDERAL REGISTER].
ADDRESSES: Interested parties are invited to submit written comments to the FDIC by
any of the following methods:
•

Agency Website: https://www.fdic.gov/resources/regulations/federal-registerpublications/.

•

Email: comments@fdic.gov. Include the name and number of the collection in the
subject line of the message.

•

Mail: Manny Cabeza (202-898-3767), Regulatory Counsel, MB-3128, 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 NW building (located on F Street NW), on business days
between 7:00 a.m. and 5:00 p.m.

Written comments and recommendations for the proposed information collection should

be sent within 30 days of publication of this notice to
www.reginfo.gov/public/do/PRAMain. Find this particular information collection by
selecting "Currently under 30-day Review - Open for Public Comments" or by using the
search function.
FOR FURTHER INFORMATION CONTACT: Manny Cabeza, Regulatory Counsel,
202-898-3767, mcabeza@fdic.gov, MB-3128, Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
Proposal to renew the following currently approved collection of information:
1.

Title: Recordkeeping Requirements Associated with Real Estate Appraisals and
Evaluations
OMB Number: 3064-0103
Forms: None
Affected Public: Insured State Nonmember Banks and State Savings Associations.
Burden Estimate:
Summary of Estimated Annual Burdens (OMB No. 3064-0103)

IC Description

Recordkeeping Requirements
Associated with Real Estate
Appraisals and Evaluations
(12 CFR 323)

Type of Burden
(Obligation to
Respond)

Frequency of
Response

Number of
Respondents

Number of
Responses
per
Respondent

Recordkeeping
(Mandatory)

On occasion

3,038

Time per
Response
(Hours)

0.083

Total Annual Burden Hours:
Source: FDIC.

General Description of Collection: FIRREA directs the FDIC to prescribe
appropriate performance standards for real estate appraisals connected with
federally related transactions under its jurisdiction. This information collection is
a direct consequence of the statutory requirement. It is designed to provide

Annual
Burden
(Hours)

63,039

63,039

protection for federal financial and public policy interests by requiring real estate
appraisals used in connection with federally related transactions to be performed
in writing, in accordance with uniform standards, by an appraiser whose
competency has been demonstrated and whose professional conduct will be
subject to effective supervision. There is no change in the methodology or
substance of this information collection. The increase in estimated annual burden
(from 227 hours in 2021 to 250 hours currently) is due to the increase in the
estimated number of responses.
2.

Title: Qualified Financial Contracts Part 371
OMB Number: 3064-0163
Forms: None
Affected Public: State non-member banks and savings associations.
Burden Estimate:
Summary of Estimated Annual Burden (OMB No. 3064-0163)

Information Collection
(IC) (Obligation to
Respond)

Type of Burden
(Frequency of
Response)

Number of
Respondents

Number of
Responses per
Respondent

Time per
Response
(HH:MM)

Annual
Burden
(Hours)

1. Full Scope Entities,
Implementation
(Mandatory)

Recordkeeping
(Annual)

1

6000:00

6,000

2. Full Scope Entities,
Ongoing (Mandatory)

Recordkeeping
(Annual)

1

250:00

2,750

3. Limited Scope Entities,
Implementation
(Mandatory)

Recordkeeping
(Annual)

1

23:30

4. Limited Scope Entities,
Ongoing (Mandatory)

Recordkeeping
(Annual)

1

11:30

5. Reporting Requirements
for part 371 (Mandatory)

Reporting
(Annual)

1

6:00

Total Annual Burden (Hours):

8,960

Source: FDIC.

General Description of Collection: This collection consists of recordkeeping
requirements for qualified financial contracts (QFCs) held by insured depository
institutions in troubled condition. There is no change in the methodology or

substance of this information collection. The decrease in the estimated annual
burden (from 10,250 hours in 2021 to 8,960 hours currently) is due to the decline
in the estimated number of limited scope entities covered by Part 371.
Request 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 collection of information 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.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on June 12, 2024.
James P. Sheesley,
Assistant Executive Secretary.
BILLING CODE 6714-01-P

[FR Doc. 2024-13250 Filed: 6/14/2024 8:45 am; Publication Date: 6/17/2024]