97-14453. Agency Information Collection Activities: Submission for OMB Review; Comment Request

[Federal Register Volume 62, Number 106 (Tuesday, June 3, 1997)]
[Notices]
[Pages 30326-30327]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-14453]


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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

[[Page 30327]]

information collection system described below.
    Type of Review: Renewal without change in the substance or method 
of collection.
    Title: Public Disclosure by Banks.
    Form Number: None.
    OMB Number: 3064-0090.
    Expiration Date of OMB Clearance: July 31, 1997.
    OMB Reviewer: Alex Hunt, [phone], Office of Management and 
Budget, OIRA, Paperwork Reduction Project (3064-0090), 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 July 3, 1997.

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: This collection implements regulatory 
requirements found at 12 CFR Part 350. Banks subject to the regulation 
are required to notify the general public, and in some instances 
shareholders, that disclosure statements are available on request. 
Required disclosures consist of financial reports for the current and 
preceding year which can be photocopied directly from the year-end call 
reports. Also, on a case-by-case basis, the FDIC may require that 
descriptions of enforcement actions be included in disclosure 
statements. The regulation allows, but does not require, the inclusion 
of management discussions and analysis. The information is intended to 
aid members of the general public in determining whether to establish 
or continue a relationship with a particular bank by making publicly 
available information more accessible. Given the public's ongoing 
concerns about the health of the banking system and individual banks 
and its greater awareness of the risks of holding deposits at a bank in 
excess of the FDIC's insurance coverage, the annual disclosure 
statement (the objective of which is to make existing bank financial 
information more directly and readily accessible to the public) is 
intended to be a convenient and useful mechanism for current and 
prospective bank customers to obtain information concerning the 
condition of an institution.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Deputy Executive Secretary.
[FR Doc. 97-14453 Filed 6-2-97; 8:45 am]
BILLING CODE 6714-01-M