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
``Prompt Corrective Action.''
DATES: Comments must be submitted on or before June 1, 1999.
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 4058, Attention:
Comments/OES, Federal Deposit Insurance Corporation, 550 17th Street
NW, Washington, DC 20429. All comments should refer to ``Prompt
Corrective Action.'' 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 7:00 a.m. and 5:00 p.m. [FAX number (202) 898-
3838; Internet address: firstname.lastname@example.org].
A copy of the 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
Proposal to Renew the Following Currently Approved Collection of
Title: Prompt Corrective Action.
OMB Number: 3064-0115.
Frequency of Response: Occasional.
Affected Public: Insured institutions requiring federal banking
agency supervisory actions.
Estimated Number of Respondents: 10.
Estimated Time per Response: 4 hours.
Estimated Total Annual Burden: 40 hours.
General Description of Collection: The prompt corrective action
provisions of FDICIA require or permit the FDIC and other federal
financial regulators to take certain supervisory actions when FDIC-
insured institutions fall within one of five categories. The collection
consists of applications required to obtain FDIC exceptions to
otherwise restricted activities.
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, D.C., this 26th day of March, 1999.
Federal Deposit Insurance Corporation
Robert E. Feldman,
[FR Doc. 99-7954 Filed 3-31-99; 8:45 am]
BILLING CODE 6714-01-M