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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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

``Community Reinvestment Act.''

DATES: Comments must be submitted on or before March 23, 1998.

ADDRESSES: Interested parties are invited to submit written comments to

Tamara R. Manly, Management Analyst (Regulatory Analysis), (202) 898-

7453, Office of the Executive Secretary, Room 4022, Attention:

Comments/OES, Federal Deposit Insurance Corporation, 550 17th Street

N.W., Washington, D.C. 20429. All comments should refer to ``Community

Reinvestment Act.'' 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: [email protected]].

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: Tamara R. Manly, at the address

identified above.

SUPPLEMENTARY INFORMATION: Proposal to renew the following currently

approved collection of Information:

Title: Community Reinvestment Act.

OMB Number: 3064-0092.

Frequency of Response: Annually.

Affected Public: Any depository institution that serves the credit

needs of the communities in which they are chartered to do business.

Estimated Number of Respondents: 6,169.

Estimated Time per Response: 12 hours.

Estimated Total Annual Burden: 74,028 hours.

General Description of Collection: The Community Reinvestment Act

and regulation 12 CFR 345 require each appropriate Federal financial

supervisory agency to use its authority when examining financial

institutions, to encourage such institutions to help meet credit needs

of the local communities in which they are chartered consistent with

safe and sound operation of such institutions.

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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 technology.

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, D.C., this 14th day of January, 1998.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Executive Secretary.

[FR Doc. 98-1454 Filed 1-21-98; 8:45 am]

BILLING CODE 6714-01-M