FDIC Federal Register Citations

[Federal Register: July 11, 1997 (Volume 62, Number 133)]

[Notices]

[Page 37257-37258]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr11jy97-98]

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FEDERAL DEPOSIT INSURANCE CORPORATION

Agency Information Collection Activities: Proposed Collection;

Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork

and respondent burden, invites the general public and other Federal

agencies to take this opportunity to comment on proposed and/or

continuing information collections, as required by the Paperwork

Reduction Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is

soliciting comments concerning an information collection titled

``Independent Audits.''

DATES: Comments must be submitted on or before September 9, 1997.

ADDRESSES: Interested parties are invited to submit written comments to

Steven F. Hanft, FDIC Clearance Officer, (202) 898-3907, Office of the

Executive Secretary, Federal Deposit Insurance Corporation, 550 17th

Street NW.,

[[Page 37258]]

Washington, D.C. 20429. 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 7:00 a.m. and 5:00 p.m. (Fax number (202) 898-

3838; Internet address: comments@fdic.gov]). All comments should refer

to ``Independent Audits.''

A copy of the comments may also be submitted to the OMB desk

officer for the FDIC: Alexander Hunt, Office of Information and

Regulatory Affairs, Office of Management and Budget, New Executive

Office Building, Room 3208, Washington, D.C. 20503.

FOR FURTHER INFORMATION CONTACT: Steven F. Hanft, at the address

identified above.

SUPPLEMENTARY INFORMATION: Proposal to renew the following currently

approved collection of information:

Title: Independent Audits.

OMB Number: 3064-0113.

Frequency of Response: Annual and occasional.

Estimated Number of Respondents: 420

Estimated Number of Responses per Respondent: 3.

Estimated Total Annual Responses: 1,260.

Estimated Time per Response: 32 hours.

Estimated Total Annual Burden: 40,320 hours.

General Description of the Collection: The FDIC's regulation 12 CFR

Part 363 implements section 36 of the Federal Deposit Insurance Act,

which is generally intended to facilitate early identification of

problems in financial management at larger insured institutions (those

with assets of $500 million or more) through annual independent audits,

assessments of the effectiveness of internal controls and compliance

with designated laws and regulations and more stringent reporting

requirements. This collection of information, currently approved by OMB

through September 30, 1998, would be modified to delete a requirement

that respondents comply with Schedule A to Appendix A of Part 363,

``Agreed Upon Procedures for Determining Compliance with Designated

Laws.''

Request for Comment: Comments are invited on: (a) Whether the

collection of information is 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 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; 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.

At the end of the comment period, the comments and recommendations

received will be analyzed to determine the extent to which the

collection should be modified prior to submission to OMB for review and

approval. Comments submitted in response to this notice also will be

summarized or included in the FDIC's requests to OMB for renewal of

this collection. All comments will become a matter of public record.

Dated at Washington, DC, this 8th day of July, 1997.

Federal Deposit Insurance Corporation.

Steven F. Hanft,

Assistant Executive Secretary.

[FR Doc. 97-18214 Filed 4-10-97; 8:45 am]

BILLING CODE 6714-01-M