15706 Federal Register / Vol. 62, No. 63 / Wednesday, April 2, 1997 / Notices

narrowband PCS applicants are legally,

technically and financially qualified to

be licensed and whether applicants are

entitled to receive certain benefits. The

information will also be used to ensure

that licensees who acquire their licenses

through competitive bidding are not

unjustly enriched by premature transfer

of their licenses. Without the

information, the Commission could not

determine whether to issue the licenses

to the applicants that provide

telecommunication services to the

public. The information is used by

Commission staff in carrying out its

duties under the Communications Act.

OMB Approval Number: 3060–0368.

Title: Section 97.523 Question pools.

Form No.: N/A.

Type of Review: Reinstatement

without change.

Respondents: Individuals.

Number of Respondents: 3.

Estimated Time Per Response: 160

hours.

Total Annual Burden: 480 hours.

Total Annual Cost: 0.

Needs and Uses: The record keeping

requirement contained in Section

97.523 is necessary to permit question

pools used in preparing amateur

examinations to be maintained by

Volunteer-Examiner Coordinators

(VEC’s). These question pools must be

published and made available to the

public before the questions are used in

an examination.

Federal Communications Commission.

William F. Caton,

Acting Secretary.

[FR Doc. 97–8344 Filed 4–1–97; 8:45 am]

BILLING CODE 6712–01–P

FEDERAL DEPOSIT INSURANCE

CORPORATION

Eligibility to Make Application to

Become an Insured Bank under

Section 5 of the Federal Deposit

Insurance Act; Rescission of

Statement of Policy

AGENCY: Federal Deposit Insurance

Corporation (FDIC).

ACTION: Rescission of Statement of

Policy.

SUMMARY: As part of the FDIC’s

systematic review of its regulations and

written policies under section 303(a) of

the Riegle Community Development and

Regulatory Improvement Act of 1994

(CDRI), the FDIC is rescinding its

Statement Regarding Eligibility to Make

Application to Become an Insured Bank

Under section 5 of the Federal Deposit

Insurance Act (Statement of Policy). The

Statement of Policy describes the

analysis the FDIC used when carrying

out a former statutory directive to

evaluate certain factors in determining

an industrial loan company’s eligibility

for deposit insurance. Since the statute

is no longer in force, the FDIC is

rescinding this outmoded Statement of

Policy.

EFFECTIVE DATE: This Statement of

Policy is rescinded April 2, 1997.

FOR FURTHER INFORMATION CONTACT:

Jesse G. Snyder, Assistant Director (202/

898–6915), Division of Supervision;

Jamey Basham, Counsel, (202/898–

7265), Legal Division, FDIC, 550 17th

Street, N.W., Washington, D.C. 20429.

SUPPLEMENTARY INFORMATION: The FDIC

is conducting a systematic review of its

regulations and written policies. Section

303(a) of the CDRI (12 U.S.C. 4803(a))

requires each federal banking agency to

streamline and modify its regulations

and written policies in order to improve

efficiency, reduce unnecessary costs,

and eliminate unwarranted constraints

on credit availability. Section 303(a)

also requires each federal banking

agency to remove inconsistencies and

outmoded and duplicative requirements

from its regulations and written

policies.

As part of this review, the FDIC has

determined that the Statement of Policy

is outmoded, and that the FDIC’s

written policies can be streamlined by

its elimination.

The FDIC originally adopted the

Statement of Policy on February 27,

1984 (49 FR 7865 (March 2, 1984)). It

addresses issues surrounding

implementation of certain provisions of

the Garn-St. Germain Depository

Institutions Act of 1982, Pub. L. 97–320

(Garn Act), which expanded the types of

state-chartered depository institutions

eligible for FDIC insurance, to include

industrial banking companies and

similar institutions. These specialpurpose entities, known as industrial

banks, industrial loan companies,

industrial loan and thrift companies, or

loan and investment companies, extend

installment credit to consumers and

accept some form of savings deposits.

Before the Garn Act, the only eligible

state-chartered entities were banks and

trust companies with explicit statutory

authority to accept deposits other than

trust deposits.

The Garn Act amended section 5(a) of

the Federal Deposit Insurance Act (FDI

Act) (12 U.S.C. 1815(a)) to list special

procedural requirements for the FDIC to

fulfill before insuring industrial banking

companies lacking bank charters. The

FDIC was required to determine that the

industrial banking company was

chartered and operating under state

laws providing for examination,

supervision, and liquidation comparable

to banks.

In the Federal Deposit Insurance

Corporation Improvement Act of 1991,

Pub. L. 102–242 (Improvement Act),

section 5(a) of the FDI Act was

comprehensively rewritten without

inclusion of these special requirements.

As a result, the FDIC is no longer

required to apply a specialized set of

factors in determining the eligibility of

industrial banking companies as a class

for deposit insurance.

The Statement of Policy presents a

mix of the details of the section 5(a)

analysis and descriptions of the FDIC’s

approach to general eligibility issues

relating to industrial banking

companies. Given the removal of the

section 5(a) factors from the FDI Act, the

former analysis is no longer necessary

and these portions of the Statement of

Policy are outmoded. As for the latter

analysis, a description of general

eligibility issues was salutary during the

Garn Act’s implementation period,

when numerous industrial banking

companies were first presented with the

issue of eligibility for such companies

under the laws of their respective states.

However, over a decade later, these

questions arise rarely, and the FDIC’s

written policies can be streamlined by

elimination of the Statement of Policy.

For the above reasons, the Statement of

Policy is rescinded.

By order of the Board of Directors.

Dated at Washington, D.C. this 25th day of

March, 1997.

Federal Deposit Insurance Corporation

Robert E. Feldman,

Deputy Executive Secretary.

[FR Doc. 97–8342 Filed 4–1–97; 8:45 am]

BILLING CODE 6714–01–P

FEDERAL RESERVE SYSTEM

Agency Information Collection

Activities: Submission to OMB Under

Delegated Authority

BACKGROUND: Notice is hereby given of

the final approval of proposed

information collections by the Board of

Governors of the Federal Reserve

System (Board) under OMB delegated

authority, as per 5 CFR 1320.16 (OMB

Regulations on Controlling Paperwork

Burdens on the Public). The Federal

Reserve 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,