[Federal Register Volume 64, Number 248 (Tuesday, December 28, 1999)]
[Notices]
[Pages 72667-72668]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-33618]


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FEDERAL DEPOSIT INSURANCE CORPORATION


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

AGENCY: Federal Deposit Insurance Corporation (FDIC).

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

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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 information collection system 
described below.

    Type of Review: New collection.
    Title: Asset Purchaser Eligibility.
    Estimate of Annual Burden:
    Number of respondents: 1,800.
    Frequency of response: Occasional.
    Number of responses: 2,500.
    Time per response: 30 minutes.
    Total annual burden: 1,250 hours.

    OMB: Alexander T. Hunt, (202) 395-7860, Office of Management and 
Budget, Office of Information and Regulatory Affairs, Washington, DC 
20503.
    FDIC: Steven F. Hanft (202) 898-3907, Office of the Executive 
Secretary, Room F-4062, Federal Deposit Insurance Corporation, 550 17th 
Street NW, Washington, DC 20429.

COMMENTS: Comments on this collection of information are welcome and 
should be submitted on or before January 27, 2000 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: The FDIC acquires assets as the result of 
being appointed conservator or receiver of failing financial 
institutions and generally sells these assets through competitive 
sales. The FDIC is statutorily required to promulgate a regulation 
prohibiting the sale of assets held by insured depository institutions 
that have been placed under the conservatorship or receivership of the 
FDIC to certain individuals or entities who profited or engaged in 
wrongdoing at the expense of those failed institutions, or seriously 
mismanaged those failed institutions. The statute specifies classes of 
persons prohibited

[[Page 72668]]

from purchasing assets of failed institutions from the FDIC. (12 U.S.C. 
1821(p)). The statutory requirement will be implemented by a recently 
proposed regulation, ``Restrictions on the Purchase of Assets from the 
FDIC,'' (published at 64 FR 51084, Sept. 21, 1999) and a Purchaser 
Eligibility Certification that the FDIC will use to determine a 
person's eligibility to purchase assets.

    Dated: December 22, 1999.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 99-33618 Filed 12-27-99; 8:45 am]
BILLING CODE 6714-01-P