98-17452. Agency Information Collection Activities: Proposed Collection; Comment Request  

  • [Federal Register Volume 63, Number 126 (Wednesday, July 1, 1998)]
    [Notices]
    [Pages 36034-36035]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 98-17452]
    
    
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    DEPARTMENT OF THE TREASURY
    
    Office of the Comptroller of the Currency
    
    FEDERAL RESERVE SYSTEM
    
    FEDERAL DEPOSIT INSURANCE CORPORATION
    
    
    Agency Information Collection Activities: Proposed Collection; 
    Comment Request
    
    AGENCIES: Office of the Comptroller of the Currency (OCC), Treasury; 
    Board of Governors of the Federal Reserve System (Board); and Federal 
    Deposit Insurance Corporation (FDIC).
    
    ACTION: Joint notice and request for comment.
    
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    SUMMARY: In accordance with the requirements of the Paperwork Reduction 
    Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, and the FDIC 
    (the ``agencies'') may not conduct or sponsor, and the respondent is 
    not required to respond to, an information collection that has been 
    extended, revised, or implemented on or after October 1, 1995, unless 
    it displays a currently valid Office of Management and Budget (OMB) 
    control number. The agencies, under the auspices of the Federal 
    Financial Institutions Examination Council (FFIEC), intend to extend 
    without revision a currently approved information collection, the 
    Report on Indebtedness of Executive Officers and Principal Shareholders 
    and their Related Interests to Correspondent Banks (FFIEC 004). At the 
    end of the comment period, the comments and recommendations received 
    will be analyzed to determine whether the FFIEC and the agencies should 
    modify the information collection. The agencies will then submit the 
    report to OMB for review and approval.
    
    DATES: Comments must be submitted on or before August 31, 1998.
    
    ADDRESSES: Interested parties are invited to submit written comments to 
    any or all of the agencies. All comments, which should refer to the OMB 
    control number(s), will be shared among the agencies.
        OCC: Written comments should be submitted to the Communications 
    Division, Office of the Comptroller of the Currency, 250 E Street, 
    Third Floor, SW, Washington, DC 20219; Attention: Paperwork Docket No. 
    1557-0070 [FAX number (202) 874-5274; Internet address: 
    regs.comments@occ.treas.gov]. Comments will be available for inspection 
    and photocopying at that address.
    
    [[Page 36035]]
    
        Board: Written comments should be addressed to Jennifer J. Johnson, 
    Secretary, Board of Governors of the Federal Reserve System, 20th and C 
    Streets, NW, Washington, DC 20551, or delivered to the Board's mail 
    room between 8:45 a.m. and 5:15 p.m., and to the security control room 
    outside of those hours. Both the mail room and the security control 
    room are accessible from the courtyard entrance on 20th Street between 
    Constitution Avenue and C Street, NW Comments received may be inspected 
    in room M-P-500 between 9:00 a.m. and 5:00 p.m., except as provided in 
    section 261.8 of the Board's Rules Regarding Availability of 
    Information, 12 CFR 261.8(a).
        FDIC: Written comments should be addressed to Robert E. Feldman, 
    Executive Secretary, Attention: Comments/OES, Federal Deposit Insurance 
    Corporation, 550 17th Street, NW, Washington, DC 20429. Comments may be 
    hand-delivered to the guard station at the rear of the 550 17th Street 
    Building (located on F Street), on business days between 7:00 a.m. and 
    5:00 p.m. [FAX number (202) 898-3838; Internet address: 
    comments@fdic.gov]. Comments may be inspected and photocopied in the 
    FDIC Public Information Center, Room 100, 801 17th Street, NW, 
    Washington, DC, between 9:00 a.m. and 4:30 p.m. on business days.
        A copy of the comments may also be submitted to the OMB desk 
    officer for the agencies: Alexander T. Hunt, Office of Information and 
    Regulatory Affairs, Office of Management and Budget, New Executive 
    Office Building, Room 3208, Washington, DC 20503.
    
    FOR FURTHER INFORMATION CONTACT: Additional information may be 
    requested from any of the agency clearance officers whose names appear 
    below.
        OCC: Jessie Gates, OCC Clearance Officer, (202) 874-5090, 
    Legislative and Regulatory Activities Division, Office of the 
    Comptroller of the Currency, 250 E Street, SW, Washington, DC 20219.
        Board: Mary M. McLaughlin, Chief, Financial Reports Section, (202) 
    452-3829, Division of Research and Statistics, Board of Governors of 
    the Federal Reserve System, 20th and C Streets, NW, Washington, DC 
    20551. Telecommunications Device for the Deaf (TDD) users may contact 
    Diane Jenkins, (202) 452-3544, Board of Governors of the Federal 
    Reserve System, 20th and C Streets, NW, Washington, DC 20551.
        FDIC: Steven F. Hanft, FDIC Clearance Officer, (202) 898-3907, 
    Office of the Executive Secretary, Federal Deposit Insurance 
    Corporation, 550 17th Street NW, Washington, DC 20429.
    
    SUPPLEMENTARY INFORMATION:
    
    Proposal to Extend for Three Years Without Revision the Following 
    Currently Approved Collection of Information
    
        Title: Report on Indebtedness of Executive Officers and Principal 
    Shareholders and their Related Interests to Correspondent Banks.
        Form Number: FFIEC 004.
        Frequency of Response: Annually (for executive officers and 
    principal shareholders), and on occasion (for national, state member 
    and insured state nonmember banks).
        Affected Public: Individuals or households, Businesses or other 
    for-profit.
        For OCC:
        OMB Number: 1557-0070.
        Estimated Number of Respondents: 33,550 (30,500 executive officers 
    and principal shareholders fulfilling recordkeeping burden, 3,050 
    national banks fulfilling recordkeeping and disclosure burden).
        Estimated Average Hours per Response: 2.87 hours.
        Estimated Total Annual Burden: 96,533.
        For Board:
        OMB Number: 7100-0034.
        Estimated Number of Respondents: 4,955 (3,964 executive officers 
    and principal shareholders fulfilling recordkeeping burden, 991 state 
    member banks fulfilling recordkeeping and disclosure burden).
        Estimated Average Hours per Response: 1.12 hours.
        Estimated Total Annual Burden: 5,551.
        For FDIC:
        OMB Number: 3064-0023.
        Estimated Number of Respondents: 30,170 (24,136 executive officers 
    and principal shareholders fulfilling recordkeeping burden, 6,034 
    insured state nonmember banks fulfilling recordkeeping and disclosure 
    burden).
        Estimated Average Hours per Response: 1.8 hours.
        Estimated Total Annual Burden: 54,306.
        General Description of Report: This information collection is 
    mandatory: 12 U.S.C. 1972(2)(G) (all); 12 U.S.C. 375(a)(6) and (10) , 
    and 375(b)(10) (Board); 12 U.S.C. 1817(k) and 12 U.S.C. 93a (OCC); 12 
    CFR 349.3, 12 CFR 349.4, and 12 CFR 304.5(e) (FDIC).
        Abstract: Executive officers and principal shareholders of insured 
    banks must file with the bank the information contained in the FFIEC 
    004 report on their indebtedness and that of their related interests to 
    correspondent banks. Banks must retain these reports or reports 
    containing similar information and fulfill other recordkeeping 
    requirements, such as furnishing annually a list of their correspondent 
    banks to their executive officers and principal shareholders. Banks 
    also have certain disclosure requirements for this information 
    collection.
    
    Request for Comment
    
        Comments are invited on:
        a. Whether the information collection is necessary for the proper 
    performance of the agencies' functions, including whether the 
    information has practical utility;
        b. The accuracy of the agencies' 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;
        d. Ways to minimize the burden of information collection on 
    respondents, including through the use of automated collection 
    techniques or other forms of information technology; and
        e. Estimates of capital or start up costs and costs of operation, 
    maintenance, and purchase of services to provide information.
        Comments submitted in response to this Notice will be shared among 
    the agencies and will be summarized or included in the agencies' 
    requests for OMB approval. All comments will become a matter of public 
    record. Written comments should address the accuracy of the burden 
    estimates and ways to minimize burden including the use of automated 
    collection techniques or the use of other forms of information 
    technology as well as other relevant aspects of the information 
    collection request.
    
        Dated: June 22, 1998.
    Karen Solomon,
    Director, Legislative and Regulatory Activities Division, Office of the 
    Comptroller of the Currency.
    
    Board of Governors of the Federal Reserve System, June 25, 1998.
    Jennifer J. Johnson,
    Secretary of the Board.
    
        Dated at Washington, DC, this 11th day of June, 1998.
    
    Federal Deposit Insurance Corporation.
    Robert E. Feldman,
    Executive Secretary.
    [FR Doc. 98-17452 Filed 6-30-98; 8:45 am]
    BILLING CODE 4810-33-P, 6210-01-P, 6714-01-P
    
    
    

Document Information

Published:
07/01/1998
Department:
Federal Deposit Insurance Corporation
Entry Type:
Notice
Action:
Joint notice and request for comment.
Document Number:
98-17452
Dates:
Comments must be submitted on or before August 31, 1998.
Pages:
36034-36035 (2 pages)
PDF File:
98-17452.pdf