FDIC Federal Register Citations
September 18, 2006 (Volume 71, Number 180)]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
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
is submitting to the Office of Management and Budget (OMB) a request
for OMB review and approval of the renewal of the information
collection system described below.
DATES: Comments must be submitted on or before October 18, 2006.
ADDRESSES: Interested parties are invited to submit written comments on
the collection of information entitled: ``Activities and Investments of
Insured State Banks'' (3064-0111); All comments should refer to the
name and number of the collection. Comments may be submitted by any of
the following methods:
E-mail: firstname.lastname@example.org. Include the name and number of
the collection in the subject line of the message.
Mail: Gary A. Kuiper (202.898.3877), Counsel, Federal
Deposit Insurance Corporation, Suite 3130, 550 17th Street, NW.,
Washington, DC 20429.
Hand Delivery: 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.
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, Room
10235, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Gary A. Kuiper, at the address
SUPPLEMENTARY INFORMATION: Proposal to renew the following currently
approved collection of information:
Title: Activities and Investments of Insured State Banks.
OMB Number: 3064-0111.
Form Number: None.
Frequency of Response: On occasion.
Affected Public: Insured state nonmember banks.
Estimated Number of Respondents: 130.
Estimated Time per Response: 8 hours.
Total Annual Burden: 1040 hours.
General Description of Collection: With certain exceptions, Section
24 of the FDI Act (12 U.S.C. 1831a) limits the direct equity
investments of state chartered banks to equity investments that are
permissible for national banks. In addition, the statute prohibits an
insured state bank from directly engaging as principal in any activity
that is not permissible for a national bank or indirectly through a
subsidiary in an activity that is not permissible for a subsidiary of a
national bank unless the bank meets it minimum capital requirements and
the FDIC determines that the activity does not pose a significant risk
to the deposit insurance fund. The FDIC can make such a determination
for exception by regulation or by an order. 12 CFR 362 is the FDIC's
implementing regulation for Section 24. It details the activities that
insured state banks or their subsidiaries may engage in, under certain
criteria and conditions, and identifies the information that banks must
furnish to the FDIC in order to obtain the FDIC's approval or
Request for Comment
Comments are invited on: (a) Whether these collections of
information are necessary for the proper performance of the FDIC's
functions, including whether the information has practical utility; (b)
the accuracy of the estimate 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; and (d) ways to minimize the burden of the
information collections on respondents, including through the use of
automated collection techniques or other forms of information
technology. All comments will become a matter of public record.
Dated at Washington, DC, this 6th day of September, 2006.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
[FR Doc. E6-15365 Filed 9-15-06; 8:45 am]