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FDIC Federal Register Citations

[Federal Register: July 28, 1997 (Volume 62, Number 144)]
[Page 40356]
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 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 Exercise Trust Powers.''
DATES: Comments must be submitted on or before September 26, 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 NW., Washington, DC 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) 898-3838; Internet address:]). All comments 
should refer to ``Application for Consent to Exercise Trust Powers.''
    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.
Steven F. Hanft, at the address identified above.
SUPPLEMENTARY INFORMATION: Proposal to renew the following currently 
approved collection of information:
    Title: Application for Consent to Exercise Trust Powers.
    OMB Number: 3064-0025.
    Frequency of Response: Occasional.
    Estimated Total Annual Responses: 50.
    Estimated Time per Response: 16 hours.
    Estimated Total Annual Burden: 800 hours.
    General Description of the Collection: Section 333.2 of FDIC's 
regulation 12 CFR 333 prohibits any insured state nonmember bank from 
changing the general character of its business without the prior 
written consent of the FDIC. The exercise of trust powers by a bank is 
usually considered to be a change in the general character of a bank's 
business if the bank did not exercise those powers previously because 
trust powers create a new fiduciary relationship. Therefore, unless a 
bank is currently exercising trust powers, it must file a formal 
application to obtain the FDIC's written consent to exercise trust 
powers. Each application submitted by a bank is evaluated by the FDIC 
to verify the qualifications of bank management to administer a trust 
department to ensure that the bank's financial condition will not be 
jeopardized as a result of trust operations.
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, DC, this 23rd day of July 1997.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 97-19807 Filed 7-25-97; 8:45 am]

Last Updated 07/28/1997

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