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
(the ``agencies'') may not conduct or sponsor, and the respondent is
not required to respond to, an information collection that has been
extended, revised, or implemented on or after October 1, 1995, unless
it displays a currently valid Office of Management and Budget (OMB)
control number. The agencies, under the auspices of the Federal
Financial Institutions Examination Council (FFIEC), intend 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 should
modify the information collection. The agencies will then submit the
report to OMB for review and approval.
DATES: Comments must be submitted on or before August 31, 1998.
ADDRESSES: Interested parties are invited to submit written comments to
any or all of the agencies. All comments, which should refer to the OMB
control number(s), 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,
Third Floor, SW, Washington, DC 20219; Attention: Paperwork Docket No.
1557-0070 [FAX number (202) 874-5274; Internet address:
firstname.lastname@example.org]. Comments will be available for inspection
and photocopying at that address.
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, 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 9:00 a.m. and 5:00 p.m., except as provided in
section 261.8 of the Board's Rules Regarding Availability of
Information, 12 CFR 261.8(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 7:00 a.m. and
5:00 p.m. [FAX number (202) 898-3838; Internet address:
email@example.com]. Comments may be inspected and photocopied in the
FDIC Public Information Center, Room 100, 801 17th Street, NW,
Washington, DC, 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, DC 20503.
FOR FURTHER INFORMATION CONTACT: Additional information may be
requested from any of the agency clearance officers whose names appear
OCC: Jessie Gates, OCC Clearance Officer, (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. McLaughlin, Chief, Financial Reports Section, (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
Diane Jenkins, (202) 452-3544, 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
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
OMB Number: 1557-0070.
Estimated Number of Respondents: 33,550 (30,500 executive officers
and principal shareholders fulfilling recordkeeping burden, 3,050
national banks fulfilling recordkeeping and disclosure burden).
Estimated Average Hours per Response: 2.87 hours.
Estimated Total Annual Burden: 96,533.
OMB Number: 7100-0034.
Estimated 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: 30,170 (24,136 executive officers
and principal shareholders fulfilling recordkeeping burden, 6,034
insured state nonmember banks fulfilling recordkeeping and disclosure
Estimated Average Hours per Response: 1.8 hours.
Estimated Total Annual Burden: 54,306.
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. 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
Request for Comment
Comments are invited on:
a. Whether the information collection is necessary for the proper
performance of the agencies' functions, including whether the
information has practical utility;
b. The accuracy of the agencies' estimate of the burden of the
information collection, 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 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 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: June 22, 1998.
Director, Legislative and Regulatory Activities Division, Office of the
Comptroller of the Currency.
Board of Governors of the Federal Reserve System, June 25, 1998.
Jennifer J. Johnson,
Secretary of the Board.
Dated at Washington, DC, this 11th day of June, 1998.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
[FR Doc. 98-17452 Filed 6-30-98; 8:45 am]
BILLING CODE 4810-33-P, 6210-01-P, 6714-01-P