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: firstname.lastname@example.org]). 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.
FOR FURTHER INFORMATION CONTACT:
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,
[FR Doc. 97-19807 Filed 7-25-97; 8:45 am]
BILLING CODE 6714-01-M