[Federal Register Volume 60, Number 66 (Thursday, April 6, 1995)]
[Notices]
[Pages 17531-17532]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: X95-30406]



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FEDERAL DEPOSIT INSURANCE CORPORATION

Privacy Act of 1974; Amendment to an Existing System of Records

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of amendment to an existing system of records--
``Secondary Marketing Asset Prospect System'' (formerly ``Prospective 
Investor System'').

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SUMMARY: As part of an ongoing examination of the FDIC's systems of 
records, the ``Prospective Investor System'' has been reviewed for 
compliance with the Privacy Act of 1974, 5 U.S.C. 552a. Numerous minor 
amendments have been made that will clarify and/or more accurately 
describe the following elements in this system of records: System name, 
system location, categories of individuals covered by the system, 
categories of records in the system, retention and disposal, and system 
manager(s) and address.

EFFECTIVE DATE: April 6, 1995.

FOR FURTHER INFORMATION CONTACT: Frederick N. Ottie, Attorney, Office 
of the Executive Secretary, FDIC, 550-17th Street NW., Washington, DC 
20429, (202) 898-6679.

SUPPLEMENTARY INFORMATION: The FDIC's system of records entitled 
``Prospective Investor System'' is being amended to clarify and/or more 
accurately describe its contents. These modifications include changing 
the system name to the ``Secondary Marketing Asset Prospect System,'' 
and updating descriptions in the system location as well as in the 
system manager(s) and address elements to reflect organizational 
changes within the FDIC. Additionally, since system coverage only 
includes individuals who have submitted written notice (not oral 
notice) of an interest in purchasing (not an intent to purchase) 
assets, and since there is no qualification requirement for 
[[Page 17532]] individuals to be included in the system, existing 
language identifying categories of individuals covered by the system is 
amended to reflect those facts. In a similar vein, the description of 
categories of records in the system is amended to clarify that the 
system contains information identifying the general geographic location 
of loans or owned real estate that individuals may be interested in 
purchasing; that it also contains information relating to whether bids 
have been submitted on loan sales (but not owned real estate sales); 
and that it does not include additional information relating to actual 
bids. Lastly, the retention and disposal element is amended to clarify 
that backup tapes are maintained in off-line storage and that obsolete 
data is deleted or destroyed after 15 months.
    Accordingly, the FDIC amends the ``Prospective Investor System'' to 
read as follows:
FDIC 30-64-0019
    Secondary Marketing Asset Prospect System. (Complete text appears 
at 52 FR 23602, June 23, 1987).
    Division of Depositor and Asset Services, FDIC, 550-17th Street 
NW., Washington, DC 20429.
    Individuals who have submitted written notice of an interest in 
purchasing loans or owned real estate from the FDIC.
    Contains the individual's name, address, and telephone number; 
information as to the kind or category and general geographic location 
of loans or owned real estate that the individual may be interested in 
purchasing; and information relating to whether any bids have been 
submitted on loan sales.
* * * * *
* * * * *
    Records are generally maintained in computer discs and tapes in an 
on-line capacity until needed. Backup tapes are maintained in off-line 
storage. All records, including those in printout form, are 
periodically updated to reflect changes and maintained as long as 
needed. Obsolete data is deleted or destroyed after 15 months.
    Director, Division of Depositor and Asset Services, FDIC, 550-17th 
Street NW., Washington, DC 20429.
* * * * *
    Dated at Washington, DC, this 3rd day of April, 1995.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Acting Executive Secretary.
[FR Doc. 95- 8449 Filed 4-5-95; 8:45 am]
BILLING CODE 6714-01-P