SUMMARY: In accordance with requirements of the Paperwork Reduction Act
of 1995 (44 U.S.C. Chapter 35), the FDIC hereby gives notice that it
plans to submit to the Office of Management and Budget a request for
OMB review of the
information collection system described below.
Type of Review: Renewal without change in the substance or method
Title: Public Disclosure by Banks.
Form Number: None.
OMB Number: 3064-0090.
Expiration Date of OMB Clearance: July 31, 1997.
OMB Reviewer: Alex Hunt, (202) 395-7316, Office of Management and
Budget, OIRA, Paperwork Reduction Project (3064-0090), Washington, D.C.
FDIC Contact: Steven F. Hanft, (202) 898-3907, Office of the
Executive Secretary, Room F-400, Federal Deposit Insurance Corporation,
550 17th Street N.W., Washington, D.C. 20429.
Comments: Comments on this collection of information are welcome
and should be submitted on or before July 3, 1997.
ADDRESSES: A copy of the submission may be obtained by calling or
writing the FDIC contact listed above. Comments regarding the
submission should be addressed to both the OMB reviewer and the FDIC
contact listed above.
SUPPLEMENTARY INFORMATION: This collection implements regulatory
requirements found at 12 CFR Part 350. Banks subject to the regulation
are required to notify the general public, and in some instances
shareholders, that disclosure statements are available on request.
Required disclosures consist of financial reports for the current and
preceding year which can be photocopied directly from the year-end call
reports. Also, on a case-by-case basis, the FDIC may require that
descriptions of enforcement actions be included in disclosure
statements. The regulation allows, but does not require, the inclusion
of management discussions and analysis. The information is intended to
aid members of the general public in determining whether to establish
or continue a relationship with a particular bank by making publicly
available information more accessible. Given the public's ongoing
concerns about the health of the banking system and individual banks
and its greater awareness of the risks of holding deposits at a bank in
excess of the FDIC's insurance coverage, the annual disclosure
statement (the objective of which is to make existing bank financial
information more directly and readily accessible to the public) is
intended to be a convenient and useful mechanism for current and
prospective bank customers to obtain information concerning the
condition of an institution.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Deputy Executive Secretary.
[FR Doc. 97-14453 Filed 6-2-97; 8:45 am]
BILLING CODE 6714-01-M