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Federal Register / Vol. 86, No. 181 / Wednesday, September 22, 2021 / Notices
Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
Proposal to amend the following currently approved collection of information:

1. Title: Information Collection for Innovation Pilot Programs.
OMB Number: 30640212.
Form Number: None.
Affected Public: FDIC-supervised and -insured institutions and other members
of the public that provide information to innovators in connection with innovation pilot programs.
Burden Estimate:

SUMMARY OF ANNUAL BURDEN
Estimated number of respondents
Estimated frequency of responses
Estimated time per response
Estimated annual burden hours
Information collection description
Type of burden
Obligation to respond
Innovation Pilot ProgramsBurden on Banks and Other Members of the Public.

Reporting

Voluntary

400

On Occasion
100

40,000

Total Estimated Annual Burden

40,000

General Description of Collection: The FDIC seeks to engage and collaborate with innovators in the financial, nonfinancial, and technology sectors to, among other things, identify, develop and promote technology-driven innovations among community and other banks in a manner that ensures the safety and soundness of FDICsupervised and -insured institutions. An innovation pilot program framework will provide a regulatory environment in which the FDIC, in conjunction with individual proposals collected from innovators will provide tailored regulatory and supervisory assistance, when appropriate, to facilitate the testing of innovative and advanced technologies, products, services, systems, or activities.
The FDIC anticipates that products developed as part of innovation pilot programs will improve the efficiency and effectiveness of bank operations, and eventually, examinations, while increasing transparency and ultimately reducing the cost of regulatory compliance for participating institutions. In addition, the FDIC
anticipates that proposals provided in connection with the innovation pilot programs will involve cutting-edge innovations and novel approaches or applications involving a banking product, service, system, or activity that benefits and can lead to better outcomes for consumers.
As part of an innovation pilot program, innovators may request information from banks and other members of the public outside of their normal course of business. Any information provided by banks and other members of the public will be provided on a voluntary basis. FDIC
staff may similarly request information on a voluntary basis from banks or other members of the public to evaluate the products or services developed in the
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pilot programs. This information is intended to allow banks and the FDIC
to analyze the health of the overall banking system, critical financial sectors, or national, regional or local economic conditions i.e., horizontal analysis. Additionally, bank specific information may be collected in order to allow for better insights into current and escalating risks across all aspects of banking. In particular, innovators may request from banks and other members of the public general ledger information about all products and services, or a subset of products and services, systems or activities, and will not contain any personally identifiable information PII
as defined in OMB Circular A130 and includes the disclosure of any financial records or information which is identified with or identifiable as being derived from the financial records of a particular customer.
The annual burden for this information collection is estimated to be 4,000 hours. This represents an increase of hours from the current burden estimate and also a change in focus. In particular, when this information collection was first obtained, it included the burden imposed on the innovators and partner banks. In review of this information collection, the FDIC has decided to transfer the burden imposed on innovators to existing information collection 30640072 entitled, Acquisition Services Information Requirements, which is related to the FDICs procurement process. The remaining hours in this information collection, which have been updated and increased, reflect the burden imposed on banks and other members of the public in connection with innovation pilot programs.
Request for Comment Comments are invited on: a Whether the collection of information is
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necessary for the proper performance of the FDICs functions, including whether the information has practical utility; b the accuracy of the estimate 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 September 17, 2021.
James Sheesley, Assistant Executive Secretary.
FR Doc. 202120501 Filed 92121; 8:45 am BILLING CODE P

FEDERAL DEPOSIT INSURANCE
CORPORATION
OMB No. 30640025; 0134

Agency Information Collection Activities: Proposed Collection Renewal; Comment Request Federal Deposit Insurance Corporation FDIC.
ACTION: Notice and request for comment.
AGENCY:

The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995 PRA, invites the general public and other Federal agencies to take this opportunity to comment on the renewal of the existing information collections described below OMB Control No. 30640025 and 0134.

SUMMARY:

Comments must be submitted on or before November 22, 2021.

DATES:

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