Federal Deposit
Insurance Corporation

[[Page 66979]]

between 9:00 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, D.C. 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, S.W., Washington, D.C.
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, N.W., Washington, D.C.
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, N.W., Washington, D.C. 20551.
FDIC: Steven F. Hanft, FDIC Clearance Officer, (202) 898-3907,
Office of the Executive Secretary, Federal Deposit Insurance
Corporation, 550 17th Street N.W., Washington, D.C. 20429.

SUPPLEMENTARY INFORMATION:

Proposal to extend, 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
Banks
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 for-
profit
For OCC:
OMB Number: 1557-0070
Number of Respondents: 25,300 (23,000 executive officers and
principal shareholders fulfilling recordkeeping burden, 2,300 national
banks fulfilling recordkeeping and disclosure burden)
Estimated Average Hours per Response: 2.25 hours
Estimated Total Annual Burden: 56,925 hours
For Board:
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 hours
For FDIC:
OMB Number: 3064-0023
Estimated Number of Respondents: 27,495 (21,996 executive officers
and principal shareholders fulfilling recordkeeping burden, 5,499
insured state nonmember banks fulfilling recordkeeping and disclosure
burden)
Estimated Average Hours per Response: 1.8 hours
Estimated Total Annual Burden: 49,491 hours
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 CFR 31.2, 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).
Copies of the reports in the possession of the agencies may be exempt
from disclosure under sections (b)(4), (6), and (8) of the Freedom of
Information Act (5 U.S.C. 552 (b)(4), (6), and (8)).
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 received no comments on their joint
proposal to extend, without revision, the FFIEC 004 report, which was
published on September 18, 2001 (66 FR 48166). The agencies are now
submitting requests to OMB for approval of an extension, without
revision, of this report. In their requests, the agencies are
requesting an expiration date of March 31, 2004, which corresponds to
the Office of Thrift Supervision's expiration date for the FFIEC 004
report.

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
assumptions used;
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. 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 collection request.