[Federal Register: June 12, 2001 (Volume 66, Number 113)]
[Notices]
[Page 31647-31648]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr12jn01-93]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Agency Information Collection Activities: Proposed Collection;
Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
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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 the following collections of information
titled: (1) Procedures for Monitoring Bank Secrecy Act Compliance; (2)
application for waiver of prohibition on acceptance of brokered
deposits by adequately capitalized insured depository institutions; (3)
notice of branch closure; (4) real estate lending standards; and (5)
foreign branching and investment by insured state nonmember banks.
DATES: Comments must be submitted on or before August 13, 2001.
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 F-4058, Attention:
Comments/OES, Federal Deposit Insurance Corporation, 550 17th Street
NW., Washington, DC 20429. All comments should refer to the OMB control
number. 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 a.m. and 5 p.m. [FAX number (202) 898-3838; Internet address:
comments@fdic.gov].
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
identified above.
SUPPLEMENTARY INFORMATION: Proposal to renew the following currently
approved collections of information:
1. Title: Procedures for Monitoring Bank Secrecy Act Compliance.
OMB Number: 3064-0087.
Frequency of Response: On occasion.
[[Page 31648]]
Affected Public: Any financial institution complying with the
requirements of the Bank Secrecy Act.
Estimated Number of Respondents: 5,600.
Estimated Time per Response: .5 hours.
Total Annual Burden: 2,800 hours.
General Description of Collection: 12 CFR 326 requires all insured
nonmember banks to establish and maintain procedures designed to assure
and monitor their compliance with the requirements of the Bank Secrecy
Act and the implementing regulations promulgated thereunder by the
Department of Treasury at 31 CFR 103.
2. Title: Application for Waiver of Prohibition on Acceptance of
Brokered Deposits by Adequately Capitalized Insured Depository
Institutions.
OMB Number: 3064-0099.
Frequency of Response: On occasion.
Affected Public: Any insured depository institution seeking a
waiver to the prohibition on the acceptance of brokered deposits.
Estimated Number of Respondents: 25.
Estimated Time per Response: 6 hours.
Total Annual Burden: 150 hours.
General Description of Collection: Section 29 of the Federal
Deposit Insurance Act prohibits undercapitalized insured depository
institutions from accepting, renewing, or rolling over any brokered
deposits. Adequately capitalized institutions may do so with a waiver
from the FDIC, while well-capitalized institutions may accept, renew,
or roll over brokered deposits without restriction.
3. Title: Notice of Branch Closure.
OMB Number: 3064-0109.
Frequency of Response: As needed.
Affected Public: Any financial institution that proposes to close a
branch.
Estimated Number of Respondents: 1,364 (1,314 notice; 50 adoption).
Estimated Time per Response: 1,314--2 hours; 50--8 hours.
Total Annual Burden: 3,028 hours.
General Description of Collection: Section 42 of the Federal
Deposit Insurance Act mandates that an institution that proposes to
close a branch notify its primary Federal regulator no later than 90
days prior to the closing. Each insured depository institution is
required to adopt policies for branch closings.
4. Title: Real Estate Lending Standards.
OMB Number: 3064-0112.
Frequency of Response: As needed.
Affected Public: Any financial institution engaging in real estate
lending.
Estimated Number of Respondents: 5,600.
Estimated Time per Response: 20 hours.
Total Annual Burden: 112,000 hours.
General Description of Collection: Institutions will use real
estate lending policies to guide their lending operations in a manner
that is consistent with safe and sound banking practices and
appropriate to their size, nature and scope of their operations. These
policies should address certain lending considerations, including loan-
to-value limits, loan administration policies, portfolio
diversification standards, and documentation, approval and reporting
requirements.
5. Title: Foreign Branching and Investment by Insured State
Nonmember Banks.
OMB Number: 3064-0125.
Frequency of Response: As needed.
Affected Public: Any financial institution dealing in foreign
banking.
Estimated Number of Respondents: 73.
Estimated Time per Response: Varies.
Estimated Total Annual Burden: 22,298 hours.
General Description of Collection: Section 18(d)(2) of the Federal
Deposit Insurance Act, requires a nonmember bank to obtain the FDIC's
consent to establish or operate a branch in a foreign country and
authorizes the FDIC to impose conditions and issue regulations
governing foreign branches of nonmember banks. Section 18(l) requires a
nonmember bank to obtain the FDIC's consent to acquire and hold,
directly or indirectly, stock or other evidences of ownership in any
foreign bank or other entity.
Request for Comment
Comments are invited on: (a) Whether these collections of
information are 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 these information
collections, including the validity of the methodologies 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 collections 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
collections 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
these collections. All comments will become a matter of public record.
Dated at Washington, DC, this 6th day of June, 2001.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 01-14730 Filed 6-11-01; 8:45 am]
BILLING CODE 6714-01-P
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