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FDIC Federal Register Citations

[Federal Register: July 11, 1997 (Volume 62, Number 133)]
[Page 37257-37258]
From the Federal Register Online via GPO Access []
Agency Information Collection Activities: Proposed Collection; 
Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice and request for comment.
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 an information collection titled 
``Independent Audits.''
DATES: Comments must be submitted on or before September 9, 1997.
ADDRESSES: Interested parties are invited to submit written comments to 
Steven F. Hanft, FDIC Clearance Officer, (202) 898-3907, Office of the 
Executive Secretary, Federal Deposit Insurance Corporation, 550 17th 
Street NW.,
[[Page 37258]]
Washington, D.C. 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 7:00 a.m. and 5:00 p.m. (Fax number (202) 898-
3838; Internet address:]). All comments should refer 
to ``Independent Audits.''
    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, D.C. 20503.
FOR FURTHER INFORMATION CONTACT: Steven F. Hanft, at the address 
identified above.
SUPPLEMENTARY INFORMATION: Proposal to renew the following currently 
approved collection of information:
    Title: Independent Audits.
    OMB Number: 3064-0113.
    Frequency of Response: Annual and occasional.
    Estimated Number of Respondents: 420
    Estimated Number of Responses per Respondent: 3.
    Estimated Total Annual Responses: 1,260.
    Estimated Time per Response: 32 hours.
    Estimated Total Annual Burden: 40,320 hours.
    General Description of the Collection: The FDIC's regulation 12 CFR 
Part 363 implements section 36 of the Federal Deposit Insurance Act, 
which is generally intended to facilitate early identification of 
problems in financial management at larger insured institutions (those 
with assets of $500 million or more) through annual independent audits, 
assessments of the effectiveness of internal controls and compliance 
with designated laws and regulations and more stringent reporting 
requirements. This collection of information, currently approved by OMB 
through September 30, 1998, would be modified to delete a requirement 
that respondents comply with Schedule A to Appendix A of Part 363, 
``Agreed Upon Procedures for Determining Compliance with Designated 
    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; and (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 
    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 
this collection. All comments will become a matter of public record.
    Dated at Washington, DC, this 8th day of July, 1997.
Federal Deposit Insurance Corporation.
Steven F. Hanft,
Assistant Executive Secretary.
[FR Doc. 97-18214 Filed 4-10-97; 8:45 am]

Last Updated 07/11/1997

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