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Insurance Corporation

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

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FDIC Federal Register Citations

[Federal Register: October 1, 1997 (Volume 62, Number 190)]
[Page 51470-51471]
From the Federal Register Online via GPO Access []
Agency Information Collection Activities: Submission for OMB 
Review; Comment Request
AGENCY: Federal Deposit Insurance Corporation.
[[Page 51471]]
ACTION: Notice of information collection 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. Chapter 35), the FDIC hereby gives notice that it 
plans to submit to the Office of Management and Budget a request for 
OMB review and approval of the information collection system described 
    Type of Review: Revision of currently approved collection.
    Title: Independent Audits and Reporting Requirements.
    Form Number: None.
    OMB Number: 3064-0113.
    Annual Burden: Number of Respondents: 420. Number of Responses per 
Respondent: 3. Total Annual Responses: 1,260. Hours per Response: 32. 
Total Annual Burden Hours: 40,320.
    Expiration Date of OMB Clearance: September 30, 1998.
    OMB Reviewer: Alexander T. Hunt, (202) 395-7860, Office of 
Management and Budget, Office of Information and Regulatory Affairs, 
Washington, D.C. 20503.
    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 October 31, 1997 to both the OMB 
reviewer and the FDIC contact listed above.
ADDRESSES: Information about this submission, including copies of the 
proposed collection of information, may be obtained by calling or 
writing the FDIC contact listed above.
SUPPLEMENTARY INFORMATION: Section 36 of the Federal Deposit Insurance 
Act (12 U.S.C. 1831m) (``FDI Act'') imposes auditing and reporting 
requirements on insured depository institutions which are implemented 
by the FDIC's 12 CFR part 363. Pursuant to part 363, an insured 
depository institution which has total assets of $500 million or more: 
files an annual report including audited financial statements, 
management's statement of its responsibilities and assessment of its 
internal control structure and its compliance with designated safety 
and soundness laws and regulations, and an auditor's attestation 
regarding management's assessments; and, notifies the FDIC when it 
selects or changes its independent public accountant. The FDIC proposes 
to revise the collection by deleting Schedule A ``Agreed Upon 
Procedures for Determining Compliance with Designated Laws,'' from 
Appendix A of part 363. This revision will conform the collection to 
the deletion of Section 36(e) of the FDI Act by Section 2301 of the 
Economic Growth and Regulatory Paperwork Reduction Act of 1996 
    Dated: September 25, 1997.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 97-25949 Filed 9-30-97; 8:45 am]

Last Updated 10/01/1997

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