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FDIC Federal Register Citations

[Federal Register: July 29, 1997 (Volume 62, Number 145)]
[Page 40525-40526]
From the Federal Register Online via GPO Access []
Agency Information Collection Activities: Proposed Collection; 
Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
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
[[Page 40526]]
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 ``Application for Consent to Reduce or Retire 
DATES: Comments must be submitted on or before September 29, 1997.
ADDRESSES: Interested parties are invited to submit written comments to 
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. 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) 808-3838; Internet address:]). All comments 
should refer to ``Application for Consent to Reduce or Retire 
    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, D.C. 20503.
Steven F. Hanft, at the address identified above.
    Proposal to renew the following currently approved collection of 
    Title: Application for Consent to Reduce or Retire Capital.
    OMB Number: 3064-0079.
    Frequency of Response: Occasional.
    Estimated Total Annual Responses: 125.
    Estimated Time per Response: 1 hour.
    Estimated Total Annual Burden: 125 hours.
    General Description Of the Collection: Section 18(i) of the Federal 
Deposit Insurance Act (12 U.S.C. 1828(i)) states that no insured state 
nonmember bank shall, without the prior consent of the FDIC, reduce the 
amount or retire any part of its common or preferred capital stock, or 
retire any part of its capital notes or debentures. In granting or 
withholding consent under section 18(i) of the FDI Act, the FDIC is 
required to consider the following: (a) the financial history and 
condition of the bank, (b) the adequacy of its capital structure, (c) 
its future earnings prospects (d) the general character and fitness of 
its management, (e) the convenience and needs of the community to be 
served, and (f) whether or not its corporate powers are consistent with 
the purpose of the Act. To carry out this statutory responsibility, the 
FDIC requires the banks it supervises to submit letter applications 
that convey information about planned capital reductions. The FDIC 
evaluates the information contained in an application and makes a 
decision to grant or withhold consent based on the statutory 
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 23rd day of July 1997.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 97-19881 Filed 7-28-97; 8:45 am]

Last Updated 07/29/1997

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