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 ``Extensions of Credit to Executive
Officers, Unsafe and Unsound Practices.''
DATES: Comments must be submitted on or before May 4, 2001.
ADDRESSES: Interested parties are invited to submit written comments to Tamara R.
Manly, Management Analyst (Regulatory Analysis), (202) 898- 7453, Office of the Executive
Secretary, Room F-4058, Attention: Comments/OES, Federal Deposit Insurance Corporation,
550 17th Street NW., Washington, DC 20429. All comments should refer to ``Extensions of
Credit to Executive Officers, Unsafe and Unsound Practices.'' 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. [FAX number (202) 898-3838; Internet
address: comments@ fdic.gov]. 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, DC 20503.
FOR FURTHER INFORMATION CONTACT: Tamara R. Manly, at the address identified above.
Proposal To Renew the Following Currently Approved Collection of Information
Title: Extensions of Credit to Executive Officers, Unsafe and Unsound Practices. OMB
Number: 3064-0108. Frequency of Response: Annually. Affected Public: All financial
institutions. Estimated Number of Respondents: 4,000. Estimated Number of Responses:
8,000. Estimated Time per Response: 1 hour. Estimated Total Annual Burden: 8,000 hours.
General Description of Collection: The information collection and recordkeeping
requirements are mandated by statute and take the form of (1) a report by executive
officers of insured nonmember banks to their boards of directors within 10 days of
incurring any indebtedness to any other bank in an amount in excess of the amount the
insured nonmember bank could lend to the officer, and (2) a report from insured nonmember
banks, included with their reports of condition filed with the FDIC, on any extensions of
credit made by the bank to its executive officers since the bank filed its last report of
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 28th day of February, 2001.
Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc.
01-5243 Filed 3-2-01; 8:45 am] BILLING CODE 6714-01-U