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FDIC Federal Register Citations

[Federal Register: October 8, 2003 (Volume 68, Number 195)]
[Page 58096-58097]




Office of Thrift Supervision

Agency Information Collection Activities: Proposed Extension of 
Information Collection; Comment Request

AGENCIES: Federal Deposit Insurance Corporation (FDIC); Office of 
Thrift Supervision (OTS), Treasury.

ACTION: Joint notice and request for comment.


SUMMARY: The FDIC and OTS (collectively, the Agencies), as part of 
their continuing effort to reduce paperwork and respondent burden, 
invite the general public and other Federal agencies to comment on the 
proposed revision to an existing information collection as required by 
the Paperwork Reduction Act of 1995. The Agencies may not conduct or 
sponsor, and a respondent is not required to respond to, an information 
collection unless it displays a currently valid Office of Management 
and Budget (OMB) control number. Currently, the Agencies are soliciting 
comment concerning their plans to require electronic filing by 
directors, officers, and principal shareholders of institutions 
(insiders) of beneficial ownership of equity securities. Electronic 
filing of the reports is mandated by the Securities Exchange Act of 
1934, as amended by the Sarbanes-Oxley Act of 2002.

DATES: Comments should be submitted by December 8, 2003.

ADDRESSES: Comments should be directed to the Agencies and the OMB Desk 
Officer for the Agencies as follows:
    FDIC: Steven F. Hanft, Paperwork Clearance Officer, Legal Division, 
Room MB-3064, Attention: Comments/Legal Division, Federal Deposit 
Insurance Corporation, 550 17th Street, NW., Washington, DC 20429. All 
comments should refer to ``beneficial ownership reports.'' Comments may 
be hand-delivered to the guard station at the rear of the 550 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 may be inspected and photocopied in the 
FDIC Public Information Center, Room 100, 801 17th Street, NW., 
Washington, DC between 9 a.m. and 4:30 p.m. on business days.
    OTS: Information Collection Comments, Chief Counsel's Office, 
Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552, 
Attention: 1550-0019, FAX number (202) 906-6518, or e-mail to 
OTS will post comments and the related index on the OTS Internet Site at In addition, interested persons may inspect comments at the Public Reading 
Room, 1700 G Street, NW., by appointment. To make an appointment, call (202) 906-5922, send an
e-mail to, or send a facsimile transmission to (202) 906-7755.
    OMB Desk Officer for the Agencies: Joseph F. Lackey, Jr., Office of 
Information and Regulatory Affairs, Office of Management and Budget, 
New Executive Office Building, Room 10235, Washington, DC 20503, or e-mail to

FDIC: Steven F. Hanft, Paperwork Clearance Officer, (202) 898-3907, 
Legal Division, Federal Deposit Insurance Corporation, 550 17th Street, 
NW., Washington, DC 20429.
OTS: Marilyn K. Burton, OTS Clearance Officer, (202) 906-6467, Office 
of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.

    Type of Review: Revision of a currently approved collection.
    FDIC: Beneficial Ownership Reports.
    OTS: 34 Act Disclosures.
    OMB Control Numbers:
    FDIC: 3064-0030.
    OTS: 1550-0019.
    Form Numbers:
    FDIC: Forms 3, 4, and 5.
    OTS: SEC Schedules 13D, 13G, 14A, 14C, 14D-1, and TO; SEC Forms 3, 
4, 5, 10, 10-SB, 10-K, 10-KSB, 8-K, 8-A, 12b-25, 10-Q, 10-QSB, 15, and 
annual report.
    Abstract: This notice seeks public comment on a planned change in 
filing method for reports of beneficial ownership by insiders whose 
equity securities are registered with the Agencies. In the past, the 
Agencies have required paper filings. The Securities Exchange Act of 
1934 (``Exchange Act''), as amended by the Sarbanes-Oxley Act of 2002, 
changed this requirement to electronic filing. Currently, the Agencies

[[Page 58097]]

are authorizing voluntary electronic filing through an electronic 
system, which has been available since July 30. Electronic filing will 
be made mandatory by a separate, later action by the Agencies. The new 
electronic system is an important step in the Agencies' ongoing efforts 
to streamline the filing and retrieval of reports filed with the 
Agencies under the Securities Exchange Act of 1934. It will also reduce 
burden on insiders who must file these reports within two business days 
of completing a transaction in equity securities of the institution.
    Additionally, OTS collects other periodic disclosure documents 
required to be filed by savings associations pursuant to the Exchange 
Act on forms promulgated by the U.S. Securities and Exchange Commission 
for its registrants. In addition to seeking public comment on the 
planned change in filing method for reports of beneficial ownership, 
OTS also seeks public comment on its proposed renewal of this 
    The Agencies' burden estimates follow.
    Affected Public:
    FDIC: Directors, officers and principal shareholders of insured 
financial institutions (insiders).
    OTS: Directors, officers and principal shareholders of insured 
financial institutions (insiders); savings associations.
    Burden Estimates:
    Estimated Number of Respondents:
    FDIC: 1,755.
    OTS: 128.
    Estimated Number of Responses:
    FDIC: 2,370.
    OTS: 401.
    Estimated Annual Burden Hours:
    FDIC: 1,896 hours.
    OTS: 14,759 hours.
    Frequency of Response:
    FDIC: On occasion.
    OTS: On occasion; quarterly; annually.


    Comments submitted in response to this notice will be summarized in 
the request for OMB approval. All comments will become a matter of 
public record. Comments are invited on:
    (a) Whether the collection is necessary for the proper performance 
of the functions of the agency, including whether the information has 
practical utility;
    (b) The accuracy of the agency's estimate of the burden of the 
collection of information;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated at Washington, DC, this 22 day of September, 2003.

    Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
    Dated: October 2, 2003.

    By the Office of Thrift Supervision.
James E. Gilleran,
[FR Doc. 03-25476 Filed 10-7-03; 8:45 am]
BILLING CODE 6714-01-P AND 6720-01-P
Last Updated 10/08/2003

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