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FDIC Federal Register Citations

[Federal Register: October 6, 2008 (Volume 73, Number 194)]
[Page 58235-58236]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06oc08-72]
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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 collections 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 (OMB) a request
for OMB review and renewal the collections of information described
below:

DATES: Comments must be submitted on or before November 5, 2008.

ADDRESSES: Interested parties are invited to submit written comments to
the FDIC by any of the following methods. All comments should refer to
the name of the collection as well as the OMB control number(s):
     Web site: http://www.FDIC.gov/regulations/laws/federal/
notices.html
.
     Email: mail to: Comments@FDIC.gov. Include the name of the
collection in the subject line of the message.
     Mail: Herbert J. Messite (202-898-6834), Counsel, Room F-
1052, Federal Deposit Insurance Corporation, 550 17th Street, NW.,
Washington, DC 20429.
     Hand Delivery: Comments may be hand-delivered to the guard
station at the rear of the 17th Street Building (located on F Street),
on business days between 7 a.m. and 5 p.m.
    Comments may also be submitted to the OMB desk officer for the
FDIC: Office of Information and Regulatory Affairs, Office of
Management and Budget, New Executive Office Building, Room 10235, 725
17th Street, NW., Washington, DC 20503.

[[Page 58236]]

FOR FURTHER INFORMATION CONTACT: Herbert J. Messite, at the address or
telephone number identified above.

SUPPLEMENTARY INFORMATION: Proposal to renew the following currently
approved collections of information:

    1. Title: Uniform Application/Uniform Termination for Municipal
Securities Principal or Representative.
    OMB Number: 3064-0022.
    Form Number: MSD-4; MSD-5
    Frequency of Response: On occasion.
    Affected Public: Business or other financial institutions.
    Estimated Number of Respondents: 75.
    Estimated Time per Response: 1 hour.
    Total Annual Burden: 75 hours.
    General Description of Collection: An insured state nonmember bank
which serves as a municipal securities dealer must file Form MSD-4 or
MSD-5, as applicable, to permit an employee to become associated or to
terminate the association with the municipal securities dealer. FDIC
uses the form to ensure compliance with the professional requirements
for municipal securities dealers in accordance with the rules of the
Municipal Securities Rulemaking Board.

    2. Title: Request for Deregistration for Registered Transfer
Agents.
    OMB Number: 3064-0027.
    Frequency of Response: On occasion.
    Affected Public: Business or other financial institutions.
    Estimated Number of Respondents: 10.
    Estimated Time per Response: .42 hours.
    Total Annual Burden: 4.2 hours.
    General Description of Collection: An insured nonmember bank or a
subsidiary of such a bank that functions as a transfer agent may
withdraw from registration as a transfer agent by filing a written
notice of withdrawal with the FDIC as provided by 12 CFR 341.5.

    3. Title: Notification of Performance of Bank Services
    OMB Number: 3064-0029.
    Form Number: FDIC 6120/06.
    Frequency of Response: On occasion.
    Affected Public: Business or other financial institutions.
    Estimated Number of Respondents: 400.
    Estimated Time per Response: \1/2\ hour.
    Total Annual Burden: 200 hours.
    General Description of Collection: Insured state nonmember banks
are required to notify the FDIC, under section 7 of the Bank Service
Corporation Act (12 U.S.C. 1867), of the relationship with a bank
service corporation. Form FDIC 6120/06 (Notification of Performance of
Bank Services) may be used by banks to satisfy the notification
requirement.

    4. Title: Summary of Deposits.
    OMB Number: 3064-0061.
    Form Number: 8020/05 (7-95).
    Frequency of Response: Annually.
    Affected Public: All insured financial institutions.
    Estimated Number of Respondents: 6,000.
    Average Estimated Time per Response: 3 hours.
    Total Annual Burden: 18,000 hours.
    General Description of Collection: The Summary of Deposits annual
survey obtains data about the amount of deposits held at each office of
all insured banks with branches in the United States. The survey data
provides a basis for measuring the competitive impact of bank mergers
and has additional use in banking research.

    5. Title: External Audits.
    OMB Number: 3064-0113.
    Frequency of Response: Annually
    Affected Public: All insured financial institutions with total
assets of $500 Million or more, and other insured financial
institutions with total assets of less than $500 Million that
voluntarily choose to comply.
    Estimated Number of Respondents: 5,205
    Average Estimated Time per Response: (a) Financial institutions
with assets of $1 Billion or more: 65.05 hours; (b) financial
institutions with assets of $500 Million, but less than $1 Billion:
8.10 hours; (c) financial institutions with total assets less than $500
Million: 25 minutes.
    Total Annual Burden: 83,324 hours.
    General Description of Collection: FDIC's regulations at 12 CFR 363
establish annual independent audit and reporting requirements for
financial institutions with total assets of $500 Million or more. The
requirements include the submission of an annual report on their
financial statements, recordkeeping about management deliberations
regarding external auditing and reports about changes in auditors. The
information collected is used to facilitate early identification of
problems in financial management at financial institutions.

Request for Comment

    Comments are invited on: (a) Whether the collections of information
are necessary for the proper performance of the FDIC's functions,
including whether the information has practical utility; (b) the
accuracy of the estimates of the burden of the information collections,
including the validity of the methodology and assumptions used; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; and (d) ways to minimize the burden of the information
collection on respondents, including through the use of automated
collection techniques or other forms of information technology. All
comments will become a matter of public record.

    Dated at Washington, DC, this 1st day of October, 2008.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. E8-23495 Filed 10-3-08; 8:45 am]

BILLING CODE 6714-01-P

 


Last Updated 10/06/2008 Regs@fdic.gov