Justia Regulation Tracker

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[Federal Register: September 9, 2009 (Volume 74, Number 173)]
[Notices]               
[Page 46426-46427]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr09se09-53]                         

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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 collections to be submitted to OMB for 
review and approval under the Paperwork Reduction Act of 1995.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995 (44 U.S.C. chapter 35), the FDIC hereby gives notice that 
it plans to submit to the Office of Management and Budget (OMB) a 
request for OMB review and

[[Page 46427]]

renewal of the collections of information described below.

DATES: Comments must be submitted on or before October 9, 2009.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     http://www.FDIC.gov/regulations/laws/federal/notices.html.
     E-mail: comments@fdic.gov. Include the name of the 
collection in the subject line of the message.
     Mail: Leneta G. Gregorie (202-898-3719), Counsel, Room F-
1064, Federal Deposit Insurance Corporation, 550 17th Street, NW., 
Washington, DC 20429.
     Hand Delivery: 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 a.m. and 5 p.m.

All comments should refer to the relevant OMB control number. 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, Washington, DC 
20503.

FOR FURTHER INFORMATION CONTACT: Leneta Gregorie, at the address 
identified above.

SUPPLEMENTARY INFORMATION: 
    Proposal to renew the following currently approved collections of 
information:
    1. Title: Activities and Investments of Insured State Banks.
    OMB Number: 3064-0111.
    Form Numbers: None.
    Frequency of Response: On occasion.
    Affected Public: Insured State nonmember banks.
    Estimated Number of Respondents: 110.
    Estimated Time per Response: 8 hours.
    Total Annual Burden: 880 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 its minimum capital requirements 
and the FDIC determines that the activity does not pose significant 
risk to the Deposit Insurance Fund. The FDIC can make such a 
determination for exception by regulation or by order. The FDIC's 
implementing regulation for section 24 is 12 CFR part 362. It details 
the activities that insured state nonmember 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 non-objection.
    2. Title: Mutual-to-Stock Conversions of State Savings Banks.
    OMB Number: 3064-0117.
    Form Numbers: None.
    Frequency of Response: On occasion.
    Affected Public: Insured State chartered savings banks that are not 
members of the Federal Reserve System proposing to convert from mutual 
to stock form of ownership.
    Estimated Number of Respondents: 10.
    Estimated Time per Response: 50 hours.
    Total Annual Burden: 500 hours.
    General Description of Collection: Sections 303.161 and 333.4 of 
Title 12 of the Code of Federal Regulations require State savings banks 
that are not members of the Federal Reserve System to file with the 
FDIC a notice of intent to convert to stock form and to provide copies 
of documents filed with State and Federal banking and/or securities 
regulators in connection with the proposed conversion.

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. All 
comments will become a matter of public record.

    Dated at Washington, DC, this 2nd day of September, 2009.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. E9-21689 Filed 9-8-09; 8:45 am]

BILLING CODE 6714-01-P

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