SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, and the FDIC
(collectively, the ``agencies''), may not conduct or sponsor, and the
respondent is not required to respond to, an information collection
unless it displays a currently valid OMB control number. The agencies,
under the auspices of the Federal Financial Institutions Examination
Council (FFIEC), propose to extend, without revision, a currently
approved information collection, the Report on
Indebtedness of Executive Officers and Principal Shareholders and their
Related Interests to Correspondent Banks (FFIEC 004). At the end of the
comment period, the comments and recommendations received will be
analyzed to determine whether the FFIEC and the agencies can and should
modify the report. The agencies will then submit the report to OMB for
review and approval.
DATES: Comments must be submitted on or before November 19, 2001.
ADDRESSES: Interested parties are invited to submit written comments to
any or all of the agencies. All comments should refer to the OMB
control number(s) and will be shared among the agencies.
OCC: Written comments should be submitted to the Communications
Division, Office of the Comptroller of the Currency, 250 E Street, SW,
Public Information Room, Mailstop 1-5, Attention: 1557-0070,
Washington, DC 20219. In addition, comments may be sent by facsimile
transmission to (202) 874-4448, or by electronic mail to firstname.lastname@example.org. Comments will be available for inspection
and photocopying at the OCC's Public Information Room, 250 E Street,
SW, Washington, DC 20219. Appointments for inspection of comments may
be made by calling (202) 874-5043.
Board: Written comments should be addressed to Jennifer J. Johnson,
Secretary, Board of Governors of the Federal Reserve System, 20th and C
Streets, NW, Washington, DC 20551, submitted by electronic mail to email@example.com, or delivered to the Board's mail room
between 8:45 a.m. and 5:15 p.m., and to the security control room
outside of those hours. Both the mail room and the security control
room are accessible from the courtyard entrance on 20th Street between
Constitution Avenue and C Street, NW. Comments received may be
inspected in room M-P-500 between 9 a.m. and 5 p.m., except as provided
in section 261.12 of the Board's Rules Regarding Availability of
Information, 12 CFR 261.12(a).
FDIC: Written comments should be addressed to Robert E. Feldman,
Executive Secretary, Attention: Comments/OES, 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 550 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: firstname.lastname@example.org].
Comments may be inspected and photocopied in the FDIC Public
Information Center, Room 100, 801 17th Street, NW, Washington, DC,
between 9 a.m. and 4:30 p.m. on business days.
A copy of the comments may also be submitted to the OMB desk
officer for the agencies: Alexander T. 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: Additional information or a copy of
the collection may be requested from:
OCC: Jessie Dunaway, OCC Clearance Officer, or Camille Dixon, (202)
874-5090, Legislative and Regulatory Activities Division, Office of the
Comptroller of the Currency, 250 E Street, SW, Washington, DC 20219.
Board: Mary M. West, Federal Reserve Board Clearance Officer, (202)
452-3829, Division of Research and Statistics, Board of Governors of
the Federal Reserve System, 20th and C Streets, NW, Washington, DC
20551. Telecommunications Device for the Deaf (TDD) users may contact
Capria Mitchell (202) 872-4984, Board of Governors of the Federal
Reserve System, 20th and C Streets, NW, Washington, DC 20551.
FDIC: Steven F. Hanft, FDIC Clearance Officer, (202) 898-3907,
Office of the Executive Secretary, Federal Deposit Insurance
Corporation, 550 17th Street NW, Washington, DC 20429.
Proposal To Extend for Three Years Without Revision the Following
Currently Approved Collection of Information
Report Title: Report on Indebtedness of Executive Officers and
Principal Shareholders and their Related Interests to Correspondent
Form Number: FFIEC 004.
Frequency of Response: Annually (for executive officers and
principal shareholders), and on occasion (for national, state member
and insured state nonmember banks).
Affected Public: Individuals or households, Businesses or other
OMB Number: 1557-0070.
Number of Respondents: 27,500 (25,000 executive officers and
principal shareholders fulfilling recordkeeping burden, 3,050 national
banks fulfilling recordkeeping and disclosure burden).
Estimated Average Hours per Response: 2.95 hours.
Estimated Total Annual Burden: 81,250.
OMB Number: 7100-0034.
Number of Respondents: 4,955 (3,964 executive officers and
principal shareholders fulfilling recordkeeping burden, 991 state
member banks fulfilling recordkeeping and disclosure burden).
Estimated Average Hours per Response: 1.12 hours.
Estimated Total Annual Burden: 5,551.
OMB Number: 3064-0023.
Estimated Number of Respondents: 29,925 (23,940 executive officers
and principal shareholders fulfilling recordkeeping burden, 5,985
insured state nonmember banks fulfilling recordkeeping and disclosure
Estimated Average Hours per Response: 1.8 hours.
Estimated Total Annual Burden: 53,865.
General Description of Report: This information collection is
mandatory: 12 U.S.C. 1972(2)(G) (all); 12 U.S.C. 375(a)(6) and (10),
and 375(b)(10) (Board); 12 U.S.C. 1817(k) and 12 U.S.C. 93a (OCC); 12
CFR 349.3, 12 CFR 349.4, and 12 CFR 304.5(e) (FDIC).
Abstract: Executive officers and principal shareholders of insured
banks must file with the bank the information contained in the FFIEC
004 report on their indebtedness and that of their related interests to
correspondent banks. The information contained in the FFIEC 004 report
is prescribed by statute and regulation, as cited above. Banks must
retain these reports or reports containing similar information and
fulfill other recordkeeping requirements, such as furnishing annually a
list of their correspondent banks to their executive officers and
principal shareholders. Banks also have certain disclosure requirements
for this information collection.
Current Actions: The agencies propose to extend, without revision,
the FFIEC 004 report. The agencies are currently evaluating the
recordkeeping requirements contained in their regulations that relate
to the FFIEC 004 report. Should the agencies decide to revise these
regulations, a separate Federal Register notice will be published
inviting comment from the public on the proposed revisions. Any
revisions that may be made to the agencies' regulations would be
subsequently incorporated into this information collection (FFIEC 004).
Request for Comment
Comments are invited on:
a. Whether the information collections are necessary for the proper
performance of the agencies' functions, including whether the
information has practical utility;
b. The accuracy of the agencies' estimates of the burden of the
information collections, including the validity of the methodology and
c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of information collections 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 information.
Comments submitted in response to this notice will be shared among
the agencies and will be summarized or included in the agencies'
requests for OMB approval. All comments will become a matter of public
record. Written comments should address the accuracy of the burden
estimates and ways to minimize burden including the use of automated
collection techniques or the use of other forms of information
technology as well as other relevant aspects of the information
Dated: September 7, 2001.
Mark J. Tenhundfeld,
Assistant Director, Legislative and Regulatory Activities Division,
Office of the Comptroller of the Currency.
Board of Governors of the Federal Reserve System, August 30,
Jennifer J. Johnson,
Secretary of the Board.
Dated at Washington, DC, this 30th day of August, 2001.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
[FR Doc. 01-23186 Filed 9-17-01; 8:45 am]
BILLING CODE 4810-33-P; 6210-01-P; 6714-01-P