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Each depositor insured to at least $250,000 per insured bank

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FDIC Federal Register Citations
[Federal Register: October 29, 2007 (Volume 72, Number 208)]
[Page 61130-61131]
From the Federal Register Online via GPO Access []



Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of information collections to be submitted to OMB for 
review and approval under the Paperwork Reduction Act of 1995.


SUMMARY: In accordance with requirements of the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it 
plans to submit to the Office of Management and Budget (OMB) a request 
for OMB review and approval of the six information collections 
described below.

DATES: Comments must be submitted on or before November 28, 2007.

ADDRESSES: Interested parties are invited to submit written comments to 
Steve Hanft, (202) 898-3907, Clearance Officer, 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 
a.m. and 5 p.m. Comments may also be Faxed to (202) 898-8788; or e-
mailed to: All comments should refer to the relevant 
OMB control number.
    A copy of the comments may also be submitted to the OMB desk 
officer for the FDIC, Office of Information and Regulatory Affairs, 
Office of Management and Budget, New Executive Office Building, 
Washington, DC 20503.


SUPPLEMENTARY INFORMATION: Proposal to renew the following currently 
approved collections of information:
    1. Title: Foreign Branching and Investment by Insured State 
Nonmember Banks.
    OMB Number: 3064-0125.
    Frequency of Response: On occasion.
    Affected Public: Insured state nonmember banks.
    Estimated Number of Respondents: 61.
    Estimated Time per Response: 333 hours.
    Total Annual Burden: 20,298 hours.
    General Description of Collection: The Federal Deposit Insurance 
(FDI) Act requires state nonmember banks to obtain FDIC consent to 
establish or operate a branch in a foreign country, or to acquire and 
hold, directly or indirectly, stock or other evidence of ownership in 
any foreign bank or other entity. The FDI Act also authorizes the FDIC 
to impose conditions for such consent and to issue regulations related 
thereto. This collection is a direct consequence of those statutory 
    2. Title: Procedures for Monitoring Bank Secrecy Act Compliance.
    OMB Number: 3064-0087.
    Frequency of Response: On occasion.
    Affected Public: Insured state nonmember banks.
    Estimated Number of Respondents: 5,168.
    Estimated Time per Response: 62.6 hours.
    Total Annual Burden: 323,755 hours.
    General Description of Collection: Respondents must establish and 
maintain procedures designed to assure and monitor their compliance 
with the requirements of the Bank Secrecy Act and the implementing 
regulations promulgated by the Department of Treasury at 31 CFR 103. 
Respondents must also provide training for appropriate personnel.
    3. Title: Community Reinvestment Act.
    OMB Number: 3064-0092.
    Frequency of Response: On occasion.
    Affected Public: Insured state nonmember banks.
    Estimated Number of Respondents: 5,296.
    Estimated Time per Response: 36.6 hours.
    Total Annual Burden: 193,975 hours.
    General Description of Collection: This information collection 
permits the FDIC to fulfill its obligations under the Community 
Reinvestment Act to evaluate and assign ratings to the performance of 
institutions, in connection with helping to meet the credit needs of 
their communities, including low- and moderate-income neighborhoods, 
consistent with safe and sound banking practices. The FDIC uses the 
information in the examination process and in evaluating applications 
for mergers, branches, and certain other corporate activities.
    4. Title: Application for Waiver of Publication on Acceptance of 
Brokered Deposits for Adequately Capitalized Insured 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: 30.
    Estimated Time per Response: 6 hours.
    Total Annual Burden: 180 hours.
    General Description of Collection: Section 29 of the FDI 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.
    5. Title: Real Estate Lending Standards.
    OMB Number: 3064-0112.
    Frequency of Response: On occasion.
    Affected Public: Insured Savings Associations.
    Estimated Number of Respondents: 5,300.
    Estimated Time per Response: 20 hours.
    Total Annual Burden: 106,000 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 
    6. Title: Management Official Interlocks.
    OMB Number: 3064-0118.
    Frequency of Response: On occasion.

[[Page 61131]]

    Affected Public: Insured state nonmember banks.
    Estimated Number of Respondents: 6.
    Estimated Time per Response: 4 hours.
    Total Annual Burden: 24 hours.
    General Description of Collection: This collection is associated 
with the FDIC's Management Official Interlocks regulation, 12 CFR Part 
348, which implements the Depository Institution Management Interlocks 
Act (DIMIA). DIMIA generally prohibits bank management officials from 
serving simultaneously with two unaffiliated depository institutions or 
their holding companies but allows the FDIC to grant exemptions on 
request in appropriate circumstances.

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; (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; and (e) 
estimates of capital or start up costs, and costs of operation, 
maintenance and purchase of services to provide the information.
    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 
these collections. All comments will become a matter of public record.

    Dated at Washington, DC, this 22nd day of October, 2007.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
 [FR Doc. E7-21097 Filed 10-26-07; 8:45 am]


Last Updated 10/29/2007

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