FDIC Federal Register Citations

[Federal Register: June 3, 1997 (Volume 62, Number 106)]

[Notices]

[Page 30326-30327]

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

[DOCID:fr03jn97-62]

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FEDERAL DEPOSIT INSURANCE CORPORATION

Agency Information Collection Activities: Submission for OMB

Review; Comment Request

AGENCY: Federal Deposit Insurance Corporation.

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. Chapter 35), the FDIC hereby gives notice that it

plans to submit to the Office of Management and Budget a request for

OMB review of the

[[Page 30327]]

information collection system described below.

Type of Review: Renewal without change in the substance or method

of collection.

Title: Public Disclosure by Banks.

Form Number: None.

OMB Number: 3064-0090.

Expiration Date of OMB Clearance: July 31, 1997.

OMB Reviewer: Alex Hunt, (202) 395-7316, Office of Management and

Budget, OIRA, Paperwork Reduction Project (3064-0090), Washington, D.C.

20503.

FDIC Contact: Steven F. Hanft, (202) 898-3907, Office of the

Executive Secretary, Room F-400, 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 July 3, 1997.

ADDRESSES: A copy of the submission may be obtained by calling or

writing the FDIC contact listed above. Comments regarding the

submission should be addressed to both the OMB reviewer and the FDIC

contact listed above.

SUPPLEMENTARY INFORMATION: This collection implements regulatory

requirements found at 12 CFR Part 350. Banks subject to the regulation

are required to notify the general public, and in some instances

shareholders, that disclosure statements are available on request.

Required disclosures consist of financial reports for the current and

preceding year which can be photocopied directly from the year-end call

reports. Also, on a case-by-case basis, the FDIC may require that

descriptions of enforcement actions be included in disclosure

statements. The regulation allows, but does not require, the inclusion

of management discussions and analysis. The information is intended to

aid members of the general public in determining whether to establish

or continue a relationship with a particular bank by making publicly

available information more accessible. Given the public's ongoing

concerns about the health of the banking system and individual banks

and its greater awareness of the risks of holding deposits at a bank in

excess of the FDIC's insurance coverage, the annual disclosure

statement (the objective of which is to make existing bank financial

information more directly and readily accessible to the public) is

intended to be a convenient and useful mechanism for current and

prospective bank customers to obtain information concerning the

condition of an institution.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Deputy Executive Secretary.

[FR Doc. 97-14453 Filed 6-2-97; 8:45 am]

BILLING CODE 6714-01-M