Rules and Regulations. Notice and request for comment

Agency: Federal Deposit Insurance Corporation (FDIC)
Action: Notice and request for comment
Citation: FR Doc. 2013-08823

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, as required by the Paperwork Reduction Act of 1995 (4 U.S.S. chapter 35), to comment on renewal of its information collection entitled, “Application for Consent to Reduce or Retire Capital” (OMB No. 3064-0079).

Dates

Comments must be submitted on or before June 17, 2013.

Supplementary Information

The FDIC is requesting OMB approval to renew the following information collection: Title: Application for Consent to Reduce or Retire Capital. OMB Number: 3064-0079. Form Number: None. Estimated Number of applications: 80. Burden per application: 1 hour. Total annual burden: 80 hours. General Description of Collection: This collection requires insured state nonmember banks that propose to change their capital structure to submit an application containing information about the proposed change in order to obtain FDIC's consent to reduce or retire capital. The requirements are set forth in section 18(i) of the Federal Deposit Insurance Act (12 U.S.C. 1828(i)) and Part 303 of the FDIC's regulations (12 CFR 303.241). The FDIC evaluates the information contained in the letter application in relation to statutory considerations and makes a decision to grant or to withhold consent. The statutory considerations include the financial history and condition of the bank; the adequacy of its capital structure; its future earnings prospects; the general character and fitness of its management; the convenience and needs of the community to be served; and, whether or not its corporate powers are consistent with the purpose of the Act. 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 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 10th day of April 2013. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2013-08823 Filed 4-15-13; 8:45 am]