98-20057. Agency Information Collection Activities: Submission for OMB Review; Comment Request

[Federal Register Volume 63, Number 144 (Tuesday, July 28, 1998)]
[Notices]
[Pages 40284-40285]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-20057]


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FEDERAL DEPOSIT INSURANCE CORPORATION


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

AGENCY: Federal Deposit Insurance Corporation (FDIC).

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. 3501 et seq.), the FDIC hereby gives notice that it 
plans to submit to the Office of Management and Budget (OMB) a request 
for OMB review and approval of the information collection system 
described below.
    Type of Review: Renewal of a currently approved collection.
    Title: Application for Waiver of Prohibition on Acceptance of 
Brokered Deposits by Adequately Capitalized Insured Depository 
Institutions/Notification of Deposit Brokerage Activity.
    OMB Number: 3064-0099.
    Annual Burden: Estimated annual number of respondents--149; 
Estimated time per response--2.41 hours; Average annual burden hours--
359 hours.
    Expiration Date of OMB Clearance: August 31, 1998.
    OMB Reviewer: Alexander T. Hunt, [phone], Office of 
Management and Budget, Office of Information and Regulatory Affairs, 
Washington, D.C. 20503.
    FDIC Contact: Tamara R. Manly, [phone], Office of the 
Executive Secretary, Room F-4058, 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 August 27, 1998 to both the OMB 
reviewer and the FDIC contact listed above.

ADDRESSES: Information about this submission, including copies of the 
proposed collection of information, may be obtained by calling or 
writing the FDIC contact listed above.

SUPPLEMENTARY INFORMATION: Section 29 of the Federal Deposit Insurance 
Act prohibits undercapitalized insured

[[Page 40285]]

depository institutions from accepting, renewing, or rolling over any 
brokered deposits. Adequately capitalized institutions may do so with a 
waiver from the FDIC, while well-capitalized institutions may accept, 
renew, or roll over brokered deposits without restriction. Section 29A 
requires notification by deposit brokers of their activity and 
authorizes the imposition of certain recordkeeping and reporting 
requirements.

    Dated: July 22, 1998.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 98-20057 Filed 7-27-98; 8:45 am]
BILLING CODE 6714-01-M