Agency Information Collection Activities: Proposed Collection; Comment Request

FEDERAL DEPOSIT INSURANCE CORPORATION

Agency Information Collection Activities: Proposed Collection;

Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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BACKGROUND: In accordance with the requirements of the Paperwork

Reduction Act of 1995 (44 U.S.C. chapter 35), the FDIC 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. A proposed

renewal of the following currently approved collection of information

is hereby published for comment. 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 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 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; and (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.

DATES: Comments must be submitted on or before June 3, 1996.

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., Washington, DC 20429. All comments should refer to the OMB

control number 3064-0115. Comments may be hand-delivered to Room F-400,

1776 F Street, NW., Washington, DC 20429, on business days between 8:30

a.m. and 5:00 p.m. [FAX number (202) 898-3838; Internet address:

[email protected]].

A copy of the comments may also be submitted to the OMB desk

officer for the agencies: Milo Sunderhauf, 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: Prompt Corrective Action.

Form Number: N/A.

OMB Number: 3064-0115.

Frequency of Response: On occasion.

Affected Public: FDIC-insured institutions.

Estimated Number of Respondents: 50.

Estimated Time per Response: 4 hours.

Estimated Total Annual Burden: 200 burden hours.

General Description of Collection: The Prompt Corrective Actions

provisions of the Federal Deposit Insurance Corporation Improvement Act

of 1991 (FDICIA, section 131) require or permit the FDIC and other

federal banking agencies to take certain supervisory actions when the

FDIC-insured institutions fall within one of five capital categories.

They also restrict or prohibit certain activities and require the

submission of a capital restoration plan when an insured institution

becomes undercapitalized. Various provisions of the statute and the

FDIC's implementing regulations require the prior approval of the FDIC

before an FDIC-supervised institution can engage in certain activities,

or allow the FDIC to make exceptions to restrictions that would

otherwise be imposed. This collection consists of the applications that

are required to obtain the FDIC's prior approval.

Request for Comment

Comments submitted in response to this Notice 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. 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 at Washington, DC., this 28th day of March, 1996.

Federal Deposit Insurance Corporation.

Jerry L. Langley,

Executive Secretary.

[FR Doc. 96-8115 Filed 4-2-96; 8:45 am]

BILLING CODE 6714-01-M