FDIC Federal Register Citations

[Federal Register: October 29, 2007 (Volume 72, Number 208)]

[Notices]

[Page 61130-61131]

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

[DOCID:fr29oc07-52]

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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. 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 six information collections

described below.

DATES: Comments must be submitted on or before November 28, 2007.

ADDRESSES: Interested parties are invited to submit written comments to

Steve Hanft, (202) 898-3907, Clearance Officer, Federal Deposit

Insurance Corporation, 550 17th Street NW., Washington, DC 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

a.m. and 5 p.m. Comments may also be Faxed to (202) 898-8788; or e-

mailed to: comments@fdic.gov. All comments should refer to the relevant

OMB control number.

A copy of the 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,

Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Steve Hanft, at the FDIC address

above.

SUPPLEMENTARY INFORMATION: Proposal to renew the following currently

approved collections of information:

1. Title: Foreign Branching and Investment by Insured State

Nonmember Banks.

OMB Number: 3064-0125.

Frequency of Response: On occasion.

Affected Public: Insured state nonmember banks.

Estimated Number of Respondents: 61.

Estimated Time per Response: 333 hours.

Total Annual Burden: 20,298 hours.

General Description of Collection: The Federal Deposit Insurance

(FDI) Act requires state nonmember banks to obtain FDIC consent to

establish or operate a branch in a foreign country, or to acquire and

hold, directly or indirectly, stock or other evidence of ownership in

any foreign bank or other entity. The FDI Act also authorizes the FDIC

to impose conditions for such consent and to issue regulations related

thereto. This collection is a direct consequence of those statutory

requirements.

2. Title: Procedures for Monitoring Bank Secrecy Act Compliance.

OMB Number: 3064-0087.

Frequency of Response: On occasion.

Affected Public: Insured state nonmember banks.

Estimated Number of Respondents: 5,168.

Estimated Time per Response: 62.6 hours.

Total Annual Burden: 323,755 hours.

General Description of Collection: Respondents must establish and

maintain procedures designed to assure and monitor their compliance

with the requirements of the Bank Secrecy Act and the implementing

regulations promulgated by the Department of Treasury at 31 CFR 103.

Respondents must also provide training for appropriate personnel.

3. Title: Community Reinvestment Act.

OMB Number: 3064-0092.

Frequency of Response: On occasion.

Affected Public: Insured state nonmember banks.

Estimated Number of Respondents: 5,296.

Estimated Time per Response: 36.6 hours.

Total Annual Burden: 193,975 hours.

General Description of Collection: This information collection

permits the FDIC to fulfill its obligations under the Community

Reinvestment Act to evaluate and assign ratings to the performance of

institutions, in connection with helping to meet the credit needs of

their communities, including low- and moderate-income neighborhoods,

consistent with safe and sound banking practices. The FDIC uses the

information in the examination process and in evaluating applications

for mergers, branches, and certain other corporate activities.

4. Title: Application for Waiver of Publication on Acceptance of

Brokered Deposits for Adequately Capitalized Insured Institutions.

OMB Number: 3064-0099.

Frequency of Response: On occasion.

Affected Public: Any insured depository institution seeking a

waiver to the prohibition on the acceptance of brokered deposits.

Estimated Number of Respondents: 30.

Estimated Time per Response: 6 hours.

Total Annual Burden: 180 hours.

General Description of Collection: Section 29 of the FDI 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.

5. Title: Real Estate Lending Standards.

OMB Number: 3064-0112.

Frequency of Response: On occasion.

Affected Public: Insured Savings Associations.

Estimated Number of Respondents: 5,300.

Estimated Time per Response: 20 hours.

Total Annual Burden: 106,000 hours.

General Description of Collection: 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.

6. Title: Management Official Interlocks.

OMB Number: 3064-0118.

Frequency of Response: On occasion.

[[Page 61131]]

Affected Public: Insured state nonmember banks.

Estimated Number of Respondents: 6.

Estimated Time per Response: 4 hours.

Total Annual Burden: 24 hours.

General Description of Collection: This collection is associated

with the FDIC's Management Official Interlocks regulation, 12 CFR Part

348, which implements the Depository Institution Management Interlocks

Act (DIMIA). DIMIA generally prohibits bank management officials from

serving simultaneously with two unaffiliated depository institutions or

their holding companies but allows the FDIC to grant exemptions on

request in appropriate circumstances.

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; (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; and (e)

estimates of capital or start up costs, and costs of operation,

maintenance and purchase of services to provide the information.

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

these collections. All comments will become a matter of public record.

Dated at Washington, DC, this 22nd day of October, 2007.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Executive Secretary.

[FR Doc. E7-21097 Filed 10-26-07; 8:45 am]

BILLING CODE 6714-01-P