P.L. 103-73, sec. 714, requires certain insured state nonmember banks to notify the FDIC of the addition of a director or the employment of a senior executive officer.
The number of respondents is estimated to be approximately 840, or just over two times the previous estimate of 400, due to the increase in problem banks, and resultant increase in changes in senior management (based on actual filings for 2010 and 2011).
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:
(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;
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.