96-5960. Agency Information Collection Activities: Submission for OMB Review; Comment Request

[Federal Register Volume 61, Number 50 (Wednesday, March 13, 1996)]
[Notices]
[Page 10343]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-5960]



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FEDERAL DEPOSIT INSURANCE CORPORATION


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

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Notice of information collection to be submitted to OMB for 
review and approval under the Paperwork Reduction Act of 1995.

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SUMMARY: In accordance with requirements of the Paperwork Reduction Act 
of 1995 (44 U.S.C. Chapter 35), the FDIC hereby gives notice that it 
plans to submit to the Office of Management and Budget a request for 
OMB review of the information collection system described below.

    Type of Review: Renewal without change in the substance or method 
of collection.
    Title: Activities of State-Licensed Insured Branches of Foreign 
Banks.
    Form Number: None.
    OMB Number: 3064-0114.
    Expiration of OMB Clearance: April 30, 1996.
    OMB Reviewer: Milo Sunderhauf, [phone], Office of Management 
and Budget, OIRA, Paperwork Reduction Project (3064-0114), Washington, 
D.C. 20503.
    FDIC Contact: Steven F. Hanft, [phone], Office of the 
Executive Secretary, Room F-400, Federal Deposit Insurance Corporation, 
550 17th Street N.W., Washington, D.C. 20429.
    Comments: Comments on this collection of information are welcome 
and should be submitted on or before April 12, 1996.

ADDRESSES: A copy of the submission may be obtained by calling or 
writing the FDIC contact listed above. Comments regarding the 
submission should be addressed to both the OMB reviewer and the FDIC 
contact listed above.

SUPPLEMENTARY INFORMATION: Section 202 of the Federal Deposit Insurance 
Corporation Improvement Act of 1991 (FDICIA) imposes restrictions on 
the permissible activities of state-licensed branches of foreign banks. 
The statute provides that after December 19, 1992, a state-licensed 
branch of a foreign bank may not engage in any activity which is not 
permissible for a federal branch of a foreign bank unless (1) the Board 
of Governors of the Federal Reserve has determined that the activity is 
consistent with safe and sound banking practice, and (2) the FDIC has 
determined that the activity would pose no risk to the deposit 
insurance fund. The collection of information consists of procedures to 
apply for permission to engage in, or continue to engage in, an 
activity which is not permissible for a federal branch of a foreign 
bank, and the submission of a plan to discontinue those activities that 
are deemed to pose significant risk to the deposit insurance fund. This 
collection is contained in the FDIC's regulations at 12 CFR 346.

    Dated: March 8, 1996.

Federal Deposit Insurance Corporation.
Jerry L. Langley,
Executive Secretary.
[FR Doc. 96-5960 Filed 3-12-96; 8:45 am]
BILLING CODE 6714-01-M