[Federal Register Volume 71, Number 180 (Monday, September 18, 2006)]
[Notices]
[Pages 54655-54656]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-15365]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request; 3064-0111

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 
is submitting to the Office of Management and Budget (OMB) a request 
for OMB review and approval of the renewal of the information 
collection system described below.

DATES: Comments must be submitted on or before October 18, 2006.

ADDRESSES: Interested parties are invited to submit written comments on 
the collection of information entitled: ``Activities and Investments of 
Insured State Banks'' (3064-0111); All comments should refer to the 
name and number of the collection. Comments may be submitted by any of 
the following methods:
     http://www.FDIC.gov/regulations/laws/federal/notices.html.
     E-mail: [email protected]. Include the name and number of 
the collection in the subject line of the message.
     Mail: Gary A. Kuiper (202.898.3877), Counsel, Federal 
Deposit Insurance Corporation, Suite 3130, 550 17th Street, NW., 
Washington, DC 20429.
     Hand Delivery: 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 a.m. and 5 p.m.
    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, Room 
10235, Washington, DC 20503.

[[Page 54656]]


FOR FURTHER INFORMATION CONTACT: Gary A. Kuiper, at the address 
identified above.

SUPPLEMENTARY INFORMATION: Proposal to renew the following currently 
approved collection of information:
    Title: Activities and Investments of Insured State Banks.
    OMB Number: 3064-0111.
    Form Number: None.
    Frequency of Response: On occasion.
    Affected Public: Insured state nonmember banks.
    Estimated Number of Respondents: 130.
    Estimated Time per Response: 8 hours.
    Total Annual Burden: 1040 hours.
    General Description of Collection: With certain exceptions, Section 
24 of the FDI Act (12 U.S.C. 1831a) limits the direct equity 
investments of state chartered banks to equity investments that are 
permissible for national banks. In addition, the statute prohibits an 
insured state bank from directly engaging as principal in any activity 
that is not permissible for a national bank or indirectly through a 
subsidiary in an activity that is not permissible for a subsidiary of a 
national bank unless the bank meets it minimum capital requirements and 
the FDIC determines that the activity does not pose a significant risk 
to the deposit insurance fund. The FDIC can make such a determination 
for exception by regulation or by an order. 12 CFR 362 is the FDIC's 
implementing regulation for Section 24. It details the activities that 
insured state banks or their subsidiaries may engage in, under certain 
criteria and conditions, and identifies the information that banks must 
furnish to the FDIC in order to obtain the FDIC's approval or 
nonobjection.

Request for Comment

    Comments are invited on: (a) Whether these collections of 
information are necessary for the proper performance of the FDIC's 
functions, including whether the information has practical utility; (b) 
the accuracy of the estimate of the burden of the information 
collections, 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 collections on respondents, including through the use of 
automated collection techniques or other forms of information 
technology. All comments will become a matter of public record.

    Dated at Washington, DC, this 6th day of September, 2006.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. E6-15365 Filed 9-15-06; 8:45 am]
BILLING CODE 6714-01-P