[Federal Register Volume 63, Number 126 (Wednesday, July 1, 1998)]
[Notices]
[Pages 36034-36035]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-17452]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

FEDERAL RESERVE SYSTEM

FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request

AGENCIES: Office of the Comptroller of the Currency (OCC), Treasury; 
Board of Governors of the Federal Reserve System (Board); and Federal 
Deposit Insurance Corporation (FDIC).

ACTION: Joint notice and request for comment.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, and the FDIC 
(the ``agencies'') may not conduct or sponsor, and the respondent is 
not required to respond to, an information collection that has been 
extended, revised, or implemented on or after October 1, 1995, unless 
it displays a currently valid Office of Management and Budget (OMB) 
control number. The agencies, under the auspices of the Federal 
Financial Institutions Examination Council (FFIEC), intend to extend 
without revision a currently approved information collection, the 
Report on Indebtedness of Executive Officers and Principal Shareholders 
and their Related Interests to Correspondent Banks (FFIEC 004). At the 
end of the comment period, the comments and recommendations received 
will be analyzed to determine whether the FFIEC and the agencies should 
modify the information collection. The agencies will then submit the 
report to OMB for review and approval.

DATES: Comments must be submitted on or before August 31, 1998.

ADDRESSES: Interested parties are invited to submit written comments to 
any or all of the agencies. All comments, which should refer to the OMB 
control number(s), will be shared among the agencies.
    OCC: Written comments should be submitted to the Communications 
Division, Office of the Comptroller of the Currency, 250 E Street, 
Third Floor, SW, Washington, DC 20219; Attention: Paperwork Docket No. 
1557-0070 [FAX number (202) 874-5274; Internet address: 
[email protected]]. Comments will be available for inspection 
and photocopying at that address.

[[Page 36035]]

    Board: Written comments should be addressed to Jennifer J. Johnson, 
Secretary, Board of Governors of the Federal Reserve System, 20th and C 
Streets, NW, Washington, DC 20551, or delivered to the Board's mail 
room between 8:45 a.m. and 5:15 p.m., and to the security control room 
outside of those hours. Both the mail room and the security control 
room are accessible from the courtyard entrance on 20th Street between 
Constitution Avenue and C Street, NW Comments received may be inspected 
in room M-P-500 between 9:00 a.m. and 5:00 p.m., except as provided in 
section 261.8 of the Board's Rules Regarding Availability of 
Information, 12 CFR 261.8(a).
    FDIC: Written comments should be addressed to Robert E. Feldman, 
Executive Secretary, Attention: Comments/OES, 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 550 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: 
[email protected]]. Comments may be inspected and photocopied in the 
FDIC Public Information Center, Room 100, 801 17th Street, NW, 
Washington, DC, between 9:00 a.m. and 4:30 p.m. on business days.
    A copy of the comments may also be submitted to the OMB desk 
officer for the agencies: Alexander T. 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: Additional information may be 
requested from any of the agency clearance officers whose names appear 
below.
    OCC: Jessie Gates, OCC Clearance Officer, (202) 874-5090, 
Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency, 250 E Street, SW, Washington, DC 20219.
    Board: Mary M. McLaughlin, Chief, Financial Reports Section, (202) 
452-3829, Division of Research and Statistics, Board of Governors of 
the Federal Reserve System, 20th and C Streets, NW, Washington, DC 
20551. Telecommunications Device for the Deaf (TDD) users may contact 
Diane Jenkins, (202) 452-3544, Board of Governors of the Federal 
Reserve System, 20th and C Streets, NW, Washington, DC 20551.
    FDIC: Steven F. Hanft, FDIC Clearance Officer, (202) 898-3907, 
Office of the Executive Secretary, Federal Deposit Insurance 
Corporation, 550 17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION:

Proposal to Extend for Three Years Without Revision the Following 
Currently Approved Collection of Information

    Title: Report on Indebtedness of Executive Officers and Principal 
Shareholders and their Related Interests to Correspondent Banks.
    Form Number: FFIEC 004.
    Frequency of Response: Annually (for executive officers and 
principal shareholders), and on occasion (for national, state member 
and insured state nonmember banks).
    Affected Public: Individuals or households, Businesses or other 
for-profit.
    For OCC:
    OMB Number: 1557-0070.
    Estimated Number of Respondents: 33,550 (30,500 executive officers 
and principal shareholders fulfilling recordkeeping burden, 3,050 
national banks fulfilling recordkeeping and disclosure burden).
    Estimated Average Hours per Response: 2.87 hours.
    Estimated Total Annual Burden: 96,533.
    For Board:
    OMB Number: 7100-0034.
    Estimated Number of Respondents: 4,955 (3,964 executive officers 
and principal shareholders fulfilling recordkeeping burden, 991 state 
member banks fulfilling recordkeeping and disclosure burden).
    Estimated Average Hours per Response: 1.12 hours.
    Estimated Total Annual Burden: 5,551.
    For FDIC:
    OMB Number: 3064-0023.
    Estimated Number of Respondents: 30,170 (24,136 executive officers 
and principal shareholders fulfilling recordkeeping burden, 6,034 
insured state nonmember banks fulfilling recordkeeping and disclosure 
burden).
    Estimated Average Hours per Response: 1.8 hours.
    Estimated Total Annual Burden: 54,306.
    General Description of Report: This information collection is 
mandatory: 12 U.S.C. 1972(2)(G) (all); 12 U.S.C. 375(a)(6) and (10) , 
and 375(b)(10) (Board); 12 U.S.C. 1817(k) and 12 U.S.C. 93a (OCC); 12 
CFR 349.3, 12 CFR 349.4, and 12 CFR 304.5(e) (FDIC).
    Abstract: Executive officers and principal shareholders of insured 
banks must file with the bank the information contained in the FFIEC 
004 report on their indebtedness and that of their related interests to 
correspondent banks. Banks must retain these reports or reports 
containing similar information and fulfill other recordkeeping 
requirements, such as furnishing annually a list of their correspondent 
banks to their executive officers and principal shareholders. Banks 
also have certain disclosure requirements for this information 
collection.

Request for Comment

    Comments are invited on:
    a. Whether the information collection is necessary for the proper 
performance of the agencies' functions, including whether the 
information has practical utility;
    b. The accuracy of the agencies' estimate 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 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 information.
    Comments submitted in response to this Notice will be shared among 
the agencies and will be summarized or included in the agencies' 
requests for OMB approval. All comments will become a matter of public 
record. Written comments should address the accuracy of the burden 
estimates and ways to minimize burden including the use of automated 
collection techniques or the use of other forms of information 
technology as well as other relevant aspects of the information 
collection request.

    Dated: June 22, 1998.
Karen Solomon,
Director, Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency.

Board of Governors of the Federal Reserve System, June 25, 1998.
Jennifer J. Johnson,
Secretary of the Board.

    Dated at Washington, DC, this 11th day of June, 1998.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 98-17452 Filed 6-30-98; 8:45 am]
BILLING CODE 4810-33-P, 6210-01-P, 6714-01-P