Federal Register / Vol. 76, No. 73 / Friday, April 15, 2011 / Proposed Rules 21265 

1Public Law 111–203, 124 Stat. 1376. 

e. Using additional risk information, 

including qualitative information, to 

determine the magnitude of adjustment 

to an institution’s total score that would 

be necessary to bring its total score into 

better alignment with institutions with 

similar risk profiles. 

2. Are there additional guidelines that 

should govern the analytical process to 

ensure fairness and consistency in 

deposit insurance pricing 

determinations? 

3. What qualitative information 

should the FDIC use to best evaluate 

loss severity? 

4. Are the proposed guidelines for 

controlling the assessment rate 

adjustment process sufficient to ensure 

that adjustment decisions are justified, 

fully supported, and take into account 

the views of the primary Federal 

regulator and the institution? 

VI. Paperwork Reduction Act 

A. Request for Comment on Proposed 

Information Collection 

In accordance with the Paperwork 

Reduction Act (44 U.S.C. 3501 et seq.) 

the FDIC may not conduct or sponsor, 

and a person is not required to respond 

to, a collection of information unless it 

displays a currently valid Office of 

Management and Budget (OMB) control 

number. The collection of information 

contained in this proposed rule is being 

submitted to OMB for review. 

Interested parties may submit written 

comments to the FDIC concerning the 

Paperwork Reduction Act (PRA) 

implications of this proposal. 

Commenters should refer to ‘‘PRA 

Comments—Adjustment Guidelines’’ in 

the subject line. Comments may be 

submitted by any of the following 

methods: 

• Agency Web site: http:// 

www.fdic.gov/regulations/laws/federal/ 

propose.html. Follow instructions for 

submitting comments on the Agency 

Web site. 

• E-mail: Comments@FDIC.gov. 

Include ‘‘PRA Comments—Adjustment 

Guidelines, 3064–ADXX’’ in the subject 

line of the message. 

• Mail: Gary A. Kuiper, Counsel, F– 

1086, Federal Deposit Insurance 

Corporation, 550 17th Street, NW., 

Washington, DC 20429. 

• Hand Delivery/Courier: Guard 

station at the rear of the 550 17th Street 

Building (located on F Street) on 

business days between 7 a.m. and 5 p.m. 

A copy of the comments may also be 

submitted to the OMB desk officer for 

the FDIC, Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, New 

Executive Office Building, Washington, 

DC 20503. 

Comment is solicited on: 

(1) Whether the proposed collection 

of information is necessary for the 

proper performance of the functions of 

the agency, including whether the 

information will have practical utility; 

(2) The accuracy of the agency’s 

estimate of the burden of the proposed 

collection of information, including the 

validity of the methodology and 

assumptions used; 

(3) The quality, utility, and clarity of 

the information to be collected; 

(4) Ways to minimize the burden of 

the collection of information on those 

who are to respond, including through 

the use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology; 

e.g., permitting electronic submission of 

responses; and 

(5) Estimates of capital or start-up 

costs and costs of operation, 

maintenance, and purchases of services 

to provide information. 

B. Proposed Information Collection 

An information collection would 

occur when a large or highly complex 

insured depository institution makes a 

written request that the FDIC make an 

adjustment to its total score. An 

institution’s request for adjustment 

would be considered only if it is 

supported by evidence of a material risk 

or risk-mitigating factor that is not 

adequately accounted for in the 

scorecard. 

Respondents: Large and Highly 

Complex insured depository 

institutions. 

Number of responses: 0–11 per year. 

Frequency of response: Occasional. 

Average number of hours to prepare 

a response: 8 hours. 

Total annual burden: 0–88 hours. 

Dated at Washington, DC, this 12th day of 

April 2011. 

By order of the Board of Directors. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. 2011–9209 Filed 4–14–11; 8:45 am] 

BILLING CODE 6714–01–P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

12 CFR Parts 329 and 330 

RIN 3064–AD78 

Interest on Deposits; Deposit 

Insurance Coverage 

AGENCY: Federal Deposit Insurance 

Corporation (FDIC). 

ACTION: Notice of proposed rulemaking 

(NPR) and request for comment. 

SUMMARY: Effective July 21, 2011, the 

statutory prohibition against the 

payment of interest on demand deposits 

will be repealed pursuant to the DoddFrank Wall Street Reform and Consumer 

Protection Act (the DFA).1 In light of 

this, the FDIC proposes to rescind 

regulations that have implemented this 

prohibition with respect to statechartered nonmember (SNM) banks. 

Because the regulations include a 

definition of ‘‘interest’’ that may assist 

the FDIC in interpreting a recent 

statutory amendment that provides 

temporary, unlimited deposit insurance 

coverage for noninterest-bearing 

transaction accounts, the FDIC also 

proposes to retain and move the 

definition of ‘‘interest’’ into the deposit 

insurance regulations. 

DATES: Comments must be received on 

or before May 16, 2011. 

ADDRESSES: You may submit comments 

on the notice of proposed rulemaking, 

identified by RIN number and the words 

‘‘Interest on Deposits; Deposit Insurance 

Coverage NPRM,’’ by any of the 

following methods: 

• Agency Web site: http:// 

www.fdic.gov/regulations/laws/federal/ 

propose.html. Follow the instructions 

for submitting comments on the Agency 

Web site. 

• E-mail: Comments@fdic.gov. 

Include the RIN number in the subject 

line of the message. 

• Mail: Robert E. Feldman, Executive 

Secretary, Attention: Comments, Federal 

Deposit Insurance Corporation, 550 17th 

Street, NW., Washington, DC 20429. 

• Hand Delivery: Guard station at the 

rear of the 550 17th Street Building 

(located on F Street) on business days 

between 7 a.m. and 5 p.m. 

• Instructions: All submissions 

received must include the agency name 

and RIN for this rulemaking. 

• Public Inspection: All comments 

received will be posted without change 

to http://www.fdic.gov/regulations/laws/ 

federal/propose.html including any 

personal information provided. Paper 

copies of public comments may be 

ordered from the Public Information 

Center by telephone at 1–877–275–3342 

or 703–562–2200. 

FOR FURTHER INFORMATION CONTACT: 

Martin Becker, Senior Consumer Affairs 

Specialist, Division of Consumer and 

Depositor Protection (703) 254–2233, 

Mark Mellon, Counsel, Legal Division, 

(202) 898–3884, Federal Deposit 

Insurance Corporation, 550 17th Street, 

NW., Washington, DC 20429. 


jlentini on DSKJ8SOYB1PROD with PROPOSALS
21266 Federal Register / Vol. 76, No. 73 / Friday, April 15, 2011 / Proposed Rules 

SUPPLEMENTARY INFORMATION: 

I. Background 

Section 343 of the DFA amended 

section 11(a)(1) of the Federal Deposit 

Insurance Act, 12 U.S.C. 1821(a)(1), to 

provide full insurance coverage for 

depository institution noninterestbearing transaction accounts from 

December 31, 2010, through December 

31, 2012. Section 627 of the DFA 

repealed the statutory prohibition 

against the payment of interest on 

demand deposits, effective one year 

from the date of the DFA’s enactment, 

July 21, 2011. 

In light of the prospective repeal of 

the demand deposit interest prohibition, 

the FDIC proposes to rescind 12 CFR 

Part 329, the regulation which 

implements that prohibition with 

respect to SNM banks, to be effective on 

the same date as the statutory repeal, 

July 21, 2011. At the same time, 

however, a regulatory definition of the 

term ‘‘interest’’ will still be useful in 

interpreting the requirements of section 

343 of the DFA providing temporary, 

unlimited deposit insurance coverage 

for noninterest-bearing transaction 

accounts. For this reason, the FDIC 

proposes, as part of this same 

rulemaking, to transfer the definition of 

‘‘interest’’ currently found at 12 CFR 

329.1(c) to Part 330, specifically the 

definitions section at 12 CFR 330.1. The 

FDIC also specifically solicits comment 

on whether other parts of Part 329 could 

also prove useful and therefore should 

be moved into Part 330 as well. For 

example, section 329.103 provides an 

interpretive rule that defines what 

constitutes a ‘‘premium’’ which may 

prove useful in determining whether an 

account qualifies as a noninterestbearing transaction account. The FDIC 

seeks comment on every aspect of this 

proposed rule. 

II. Regulatory Analysis and Procedure 

A. Solicitation of Comments on Use of 

Plain Language 

Section 722 of the Gramm-LeachBliley Act, 1471 (Nov. 12, 1999), 

requires the Federal banking agencies to 

use plain language in all proposed and 

final rules published after January 1, 

2000. We invite your comments on how 

to make this proposal easier to 

understand. For example: 

• Have we organized the material to 

suit your needs? If not, how could this 

material be better organized? 

• Are the requirements in the 

proposed regulation clearly stated? If 

not, how could the regulation be more 

clearly stated? 

• Does the proposed regulation 

contain language or jargon that is not 

clear? If so, which language requires 

clarification? 

• Would a different format (grouping 

and order of sections, use of headings, 

paragraphing) make the regulation 

easier to understand? If so, what 

changes to the format would make the 

regulation easier to understand? 

• What else could we do to make the 

regulation easier to understand? 

B. Regulatory Flexibility Act 

The Regulatory Flexibility Act (RFA) 

requires that each federal agency either 

certify that a proposed rule would not, 

if adopted in final form, have a 

significant economic impact on a 

substantial number of small entities or 

prepare an initial regulatory flexibility 

analysis of the rule and publish the 

analysis for comment. For purposes of 

the RFA analysis or certification, 

financial institutions with total assets of 

$175 million or less are considered to be 

‘‘small entities.’’ The FDIC hereby 

certifies pursuant to 5 U.S.C. 605(b) that 

the NPR, if adopted, will not have a 

significant economic impact on a 

substantial number of small entities. 

This is because the FDIC already applies 

the Part 329 definition of ‘‘interest’’ for 

purposes of determining whether an 

account qualifies for full deposit 

insurance coverage as a noninterestbearing transaction account. The FDIC is 

only proposing to transfer the definition 

from Part 329 to Part 330 because the 

former regulation will become moot on 

July 21, 2011, pursuant to section 627 of 

the DFA and its repeal of the statutory 

ban on the payment of interest on 

demand deposits. There will therefore 

be no significant economic impact on a 

substantial number of small entities as 

a result of this change. 

C. Paperwork Reduction Act 

No collections of information 

pursuant to the Paperwork Reduction 

Act (44 U.S.C. Ch. 3501 et seq.) are 

contained in the proposed rule. 

D. The Treasury and General 

Government Appropriations Act, 1999— 

Assessment of Federal Regulations and 

Policies on Families 

The FDIC has determined that the 

proposed rule will not affect family 

well-being within the meaning of 

section 654 of the Treasury and General 

Government Appropriations Act, 

enacted as part of the Omnibus 

Consolidated and Emergency 

Supplemental Appropriations Act of 

1999 (). 

List of Subjects 

12 CFR Part 329 

Banks, banking, interest rates. 

12 CFR Part 330 

Bank deposit insurance, Banks, 

Banking, Reporting and recordkeeping 

requirements, Savings and loan 

associations, Trusts and trustees. 

For the reasons set forth in the 

preamble, and under the authority of 12 

U.S.C. 1813, the FDIC proposes to 

amend chapter III of title 12 of the Code 

of Federal Regulations as follows: 

PART 329—[REMOVED] 

1. Part 329 is removed and reserved. 

PART 330—DEPOSIT INSURANCE 

COVERAGE 

2. The authority for part 330 

continues to read as follows: 12 U.S.C. 

1813(l), 1813(m), 1817(i), 1818(q), 

1819(Tenth), 1820(f), 1821(a), 1822(c). 

3. In § 330.1, paragraphs (k) through 

(r) are redesignated as paragraphs (l) 

through (s), respectively, and new 

paragraph (k) is added to read as 

follows: 

§ 330.1 Definitions. 

* * * * * 

(k) Interest, with respect to a deposit, 

means any payment to or for the 

account of any depositor as 

compensation for the use of funds 

constituting a deposit. A bank’s 

absorption of expenses incident to 

providing a normal banking function or 

its forbearance from charging a fee in 

connection with such a service is not 

considered a payment of interest. 

* * * * * 

By order of the Board of Directors. 

Dated at Washington, DC, this 12th day of 

April 2011. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. 2011–9210 Filed 4–14–11; 8:45 am] 

BILLING CODE 6714–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2011–0070; Airspace 

Docket No. 10–ASO–43] 

Proposed Amendment of Class E 

Airspace; Cocoa, FL 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of proposed rulemaking 

(NPRM). 

SUMMARY: This action proposes to 

amend Class E Airspace at Cocoa, FL, as 


jlentini on DSKJ8SOYB1PROD with PROPOSALS