[Federal Register Volume 64, Number 248 (Tuesday, December 28, 1999)] [Notices] [Pages 72667-72668] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 99-33618] ======================================================================= ----------------------------------------------------------------------- FEDERAL DEPOSIT INSURANCE CORPORATION Agency Information Collection Activities: Submission for OMB Review; Comment Request 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. ----------------------------------------------------------------------- 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 plans to submit to the Office of Management and Budget (OMB) a request for OMB review and approval of the information collection system described below. Type of Review: New collection. Title: Asset Purchaser Eligibility. Estimate of Annual Burden: Number of respondents: 1,800. Frequency of response: Occasional. Number of responses: 2,500. Time per response: 30 minutes. Total annual burden: 1,250 hours. OMB: Alexander T. Hunt, (202) 395-7860, Office of Management and Budget, Office of Information and Regulatory Affairs, Washington, DC 20503. FDIC: Steven F. Hanft (202) 898-3907, Office of the Executive Secretary, Room F-4062, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. COMMENTS: Comments on this collection of information are welcome and should be submitted on or before January 27, 2000 to both the OMB reviewer and the FDIC contact listed above. ADDRESSES: Information about this submission, including copies of the proposed collection of information, may be obtained by calling or writing the FDIC contact listed above. SUPPLEMENTARY INFORMATION: The FDIC acquires assets as the result of being appointed conservator or receiver of failing financial institutions and generally sells these assets through competitive sales. The FDIC is statutorily required to promulgate a regulation prohibiting the sale of assets held by insured depository institutions that have been placed under the conservatorship or receivership of the FDIC to certain individuals or entities who profited or engaged in wrongdoing at the expense of those failed institutions, or seriously mismanaged those failed institutions. The statute specifies classes of persons prohibited [[Page 72668]] from purchasing assets of failed institutions from the FDIC. (12 U.S.C. 1821(p)). The statutory requirement will be implemented by a recently proposed regulation, ``Restrictions on the Purchase of Assets from the FDIC,'' (published at 64 FR 51084, Sept. 21, 1999) and a Purchaser Eligibility Certification that the FDIC will use to determine a person's eligibility to purchase assets. Dated: December 22, 1999. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 99-33618 Filed 12-27-99; 8:45 am] BILLING CODE 6714-01-P