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FDIC Federal Register Citations

[Federal Register: August 28, 2001 (Volume 66, Number 167)]
[Notices]
[Page 45312-45313]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr28au01-68]

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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 following information collection
systems described below.
1. Type of Review: Renewal of a currently approved collection.
Title: Procedures for Monitoring Bank Secrecy Act Compliance.
OMB Number: 3064-0087.
Annual Burden:

Estimated annual number of respondents: 5,600.
Estimated time per response: .5 hours.

Total annual burden hours: 2,800 hours.

Expiration Date of OMB Clearance: September 30, 2001.
Supplementary Information: 12 CFR 326 requires all insured
nonmember banks to establish and maintain procedures designed to assure
and monitor their compliance with the requirements of the Bank Secrecy
Act and the implementing regulations promulgated thereunder by the
Department of Treasury at 31 CFR 103.

2. Type of Review: Renewal of a currently approved collection.
Title: Application for Waiver of Prohibition on Acceptance of
Brokered Deposits by Adequately Capitalized Insured Institutions.
OMB Number: 3064-0099.
Annual Burden:

Estimated annual number of respondents: 25.
Estimated time per response: 6 hours.
Total annual burden hours: 150 hours.

Expiration Date of OMB Clearance: September 30, 2001.
Supplementary Information: Section 29 of the Federal Deposit
Insurance Act prohibits undercapitalized insured 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.

3. Type of Review: Renewal of a currently approved collection.
Title: Notice of Branch Closure.
OMB Number: 3064-0109.
Annual Burden:

Estimated annual number of respondents: 1,364 (1,314 notice; 50
adoption).
Estimated time per response: 1,314-2 hours; 50-8 hours.
Total annual burden hours: 3,028 hours.

Expiration Date of OMB Clearance: September 30, 2001.
Supplementary Information: Section 42 of the Federal Deposit
Insurance Act mandates that an institution that proposes to close a
branch notify its primary Federal regulator no later than 90 days prior
to the closing. Each insured depository institution is required to
adopt policies for branch closings.

4. Type of Review: Renewal of a currently approved collection.
Title: Real Estate Lending Standards.
OMB Number: 3064-0112.
Annual Burden:

Estimated annual number of respondents: 5,600.
Estimated time per response: 20 hours.
Total annual burden hours: 112,000 hours.

Expiration of OMB Clearance: September 30, 2001.
Supplementary Information: Institutions will use real estate
lending policies to guide their lending operations in a manner that is
consistent with safe and sound banking practices and appropriate to
their size, nature and scope of their operations. These policies should
address certain lending considerations, including loan-to-value limits,
loan administration policies, portfolio diversification standards, and
documentation, approval and reporting requirements.

5. Type of Review: Renewal of a currently approved collection.
Title: Foreign Branching and Investment by Insured State Nonmember
Banks.
OMB Number: 3064-0125.
Annual Burden:
Estimated annual number of respondents: 73.
Estimated time per response: varies.
Total annual burden hours: 22,298 hours.
Expiration Date of OMB Clearance: September 30, 2001.
Supplementary Information: Section 18(d)(2) of the Federal Deposit
Insurance Act, requires a nonmember bank to obtain the FDIC's consent
to establish or operate a branch in a foreign country and authorizes
the FDIC to impose conditions and issue regulations governing foreign
branches of nonmember banks. Section 18(l) requires a nonmember bank to
obtain the FDIC's consent to acquire and hold, directly or indirectly,
stock or other evidences of ownership in any foreign bank or other
entity.
OMB Reviewer: Alexander T. Hunt, (202) 395-7860, Office of
Management and Budget, Office of Information and Regulatory Affairs,
Washington, DC 20503.
FDIC Contact: Tamara R. Manly, (202) 898-7453, Office of the
Executive Secretary, Room F-4058, Federal Deposit Insurance
Corporation, 550 17th Street NW., Washington, DC 20429.
Comments: Comments on these collections of information are welcome
and should be submitted on or before September 27, 2001 to both the OMB
reviewer and the FDIC contact listed above.
Addresses: Information about this submission, including copies of
the proposed collections of information, may be obtained by calling or
writing the FDIC contact listed above.

Federal Deposit Insurance Corporation.
[[Page 45313]]
Dated: August 22, 2001.

Robert E. Feldman,
Executive Secretary.
[FR Doc. 01-21639 Filed 8-27-01; 8:45 am]
BILLING CODE 6714-01-P

Last Updated 08/28/2001 regs@fdic.gov