25868 Federal Register / Vol. 61, No. 101 / Thursday, May 23, 1996 / Notices

Federal Communications Commission.

William F. Caton,

Acting Secretary.

[FR Doc. 96–12970 Filed 5–22–96; 8:45 am]

BILLING CODE 6712–01–F

Notice of Public Information

Collections Submitted to OMB for

Review and Approval

May 17, 1996.

SUMMARY: The Federal Communications,

as part of its continuing effort to reduce

paperwork burden invites the general

public and other Federal agencies to

take this opportunity to comment on the

following proposed and/or continuing

information collections, as required by

the Paperwork Reduction Act of 1995,

Public Law 104–13. An agency may not

conduct or sponsor a collection of

information unless it displays a

currently valid control number. No

person shall be subject to any penalty

for failing to comply with a collection

of information subject to the Paperwork

Reduction Act (PRA) that does not

display a valid control number.

Comments are requested concerning (a)

whether the proposed collection of

information is necessary for the proper

performance of the functions of the

Commission, including whether the

information shall have practical utility;

(b) the accuracy of the Commissions

burden estimates; (c) ways to enhance

the quality, utility, and clarity of the

information collected and (d) ways to

minimize the burden of the collection of

information on the respondents,

including the use of automated

collection techniques or other forms of

information technology.

DATES: Written comments should be

submitted on or before June 24, 1996. If

you anticipate that you will be

submitting comments, but find it

difficult to do so within the period of

time allowed by this notice, you should

advise the contact listed below as soon

as possible.

ADDRESS: Direct all comments to

Dorothy Conway, Federal

Communications, Room 234, 1919 M

St., NW., Washington, DC 20554 or via

internet to dconway@fcc.gov and

Timothy Fain, OMB Desk Officer, 10236

NEOB 725 17th Street, NW.,

Washington, DC 20503 or

fain_t@a1.eop.gov.

FOR FURTHER INFORMATION CONTACT: For

additional information or copies of the

information collections contact Dorothy

Conway at 202–418–0217 or via internet

at dconway@fcc.gov.

SUPPLEMENTARY INFORMATION:

OMB Approval Number: 3060-0441.

Title: Section 90.621(b)(4) Selection

and assignment of frequencies.

Form No.: N/A.

Type of Review: Revision to an

existing collection.

Respondents: Businesses or other forprofit; Not-for-profit institutions; State,

Local or Tribal Government.

Number of Respondents: 33.

Estimated Time Per Response: 1.5

hours per respondent; however the

Commission estimates 75% of the

respondents will contract out the

burden of responding. It will take these

respondents approximately 30 minutes

to obtain these services.

Total Annual Burden: 25 hours.

Estimated Cost Per Respondent: The

Commission estimates 75% of the

applicants will file this information

electronically. These respondents will

incur approximately $69 for on-line

filing charges. Respondents filing

manually, will incur approximately

$1.15 in postal charges. Respondents

hiring an attorney or engineer to prepare

the information will incur

approximately $300 in charges.

Needs and Uses: Applicants wish to

locate co-channel systems less than 70

miles from an existing system operating

on the same channel may do so upon

specific request. If the request falls

under a Table provided in the rule,

certain information about the cochannel station is required. In this

instance no waiver of the short spacing

rule is required. If the request is for

distances less than those prescribed in

the table, a waiver of the short spacing

rule is required. The Commission uses

the information to determine whether to

grant licenses to applicants whose

systems do not satisfy mileage

separation requirements.

OMB Number: 3060-0110.

Title: Application for Renewal of

License for AM, FM, TV Translator or

LPTV Station.

Form Number: FCC 303-S.

Respondents: Business or other forprofit.

Type of Review: Revision of an

existing collection.

Number of Respondents: 4,658.

Estimated Time Per Response: 2 - 5.5

hours.

Total Annual Burden: 6,230.

Estimated Cost Per Respondent: The

Commission estimates 50% of the AM/

FM/FM Translator radio broadcast

licensees and 75% of the TV/TV

translator broadcast licensees will use a

communications attorney to complete

and file the FCC Form 303–S. This will

cost approximately $200 per hour.

Licensees must also submit a $115

application fee for each commercial

application by a AM/FM/TV broadcast

station. The fee for each FM/TV

Translator Broadcast station application

is $45. Additionally, AM, FM TV or

LPTV licensee must give local public

notice of the filing of the renewal

application. AM/FM/TV stations that

are off-the-air must give local public

notice by publishing an announcement

6 times in a newspaper of general

circulation in the community or area

being served. FM/TV Translator stations

must give local public notice by

publishing an announcement once in a

newspaper of general circulation. The

cost of this publication is estimated to

be $226 per publication.

Needs and Uses: On February 8, 1996,

President Clinton signed into law the

Telecommunications Act of 1996.

Section 204 of this Act directs the

Commission to collect new information

from commercial and noncommercial

television station licensees filing their

renewal applications after May 1, 1995.

These renewal applicants must submit

an Exhibit summarizing the written

comments and suggestions received

from the public that ‘‘comment on the

applicant’s programming, if any, and

that are characterized by the commenter

as constituting violent programming.’’

Until the FCC 303-S is revised, the

Commission will use a supplement to

solicit the required information. FCC

Form 303-S is used in applying for

renewal of license for a commercial or

noncommercial AM, FM or TV

broadcast station and FM translator, TV

translator or Low Power TV broadcast

stations. It can also be used in seeking

the joint renewal of licenses for an FM

or TV translator station and its coowned primary FM, TV or LPTV station.

The data is used by FCC staff to assure

that the necessary reports connected

with the renewal application have been

filed and that licensee continues to meet

basic statutory requirements to remain a

licensee of a broadcast station. The data

collected with respect to violent

programming will be used by the

Commission in determining what, if

any, changes in the Commission’s

policies and regulations are required.

Federal Communications Commission.

William F. Caton,

Acting Secretary.

[FR Doc. 96–12966 Filed 5–22–96; 8:45 am]

BILLING CODE 6712–01–F
Federal Register / Vol. 61, No. 101 / Thursday, May 23, 1996 / Notices 25869

FEDERAL DEPOSIT INSURANCE

CORPORATION

Investment in Leeway Securities;

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 policy

statement concerning bank investments

under state leeway laws (Statement).

The Statement indicates that the FDIC

will not criticize investments of a civic

or community nature if they meet

reasonable limits set out in the

Statement. The FDIC is rescinding the

Statement because it is now outmoded.

The rescission does not reflect any

substantive change in the FDIC’s

supervisory attitude toward this type of

investment.

EFFECTIVE DATE: This Statement is

rescinded effective May 23, 1996.

FOR FURTHER INFORMATION CONTACT:

Robert W. Walsh, Manager, Division of

Supervision (202) 898–6911; Gerald J.

Gervino, Senior Attorney, (202) 898–

3723, 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 is

outmoded, and that the FDIC’s written

policies can be streamlined by its

elimination.

The Statement was published on

August 4, 1972, 37 FR 16228 and

amended on March 7, 1974, 39 FR 8956.

The Statement was designed to clarify

the FDIC’s position with regard to bank

investments under state leeway laws.

Leeway laws were adopted by many

states to give depository institutions a

way to make direct investments in civic

or community related projects that

would otherwise be prohibited under

the standard bank or thrift charter. It

was felt that financial institutions were

receiving inconsistent messages from

their regulators. While community

beneficial projects were encouraged by

state agencies, the credit quality of the

related investments was being

criticized. The FDIC did not want to

inhibit banks from making investments

that were primarily of a civic or

community nature. Therefore the

Statement indicated that FDIC

examiners would not criticize these

leeway investments provided they were

made within reasonable limits

established by state law and aggregated

no more than 10 percent of capital and

surplus, whichever was less.

Section 24 of the Federal Deposit

Insurance Act, 12 U.S.C. 1831a,

prohibits equity investments by an

insured state bank if the investment is

not of a type and in an amount that is

permissible for a national bank. 12 CFR

part 362 implements this statutory

provision. Both the statute and the

regulation contain exceptions for

investments as a limited partner in a

partnership, the sole purpose of which

is the acquisition, rehabilitation or new

construction of qualified housing

projects. In addition, the National Bank

Act was amended since the last

amendment to the Statement in 1974 to

expressly provide authority for a

national bank to make investments that

are designed to primarily promote the

public welfare. Such investments can be

made up to a maximum of 10 percent

of unimpaired capital and surplus. (12

U.S.C. 24 (Eleventh). Finally,

community welfare investments are

encouraged under the FDIC’s

regulations implementing the

Community Reinvestment Act which

was enacted by Congress subsequent to

the adoption of the agency’s Statement.

Consistent with that Act and the FDIC’s

regulations, the FDIC will generally not

criticize commercially viable

community welfare investment. Thus,

the rescission of the Statement does not

signal any change in the manner in

which the FDIC evaluates investments

which are the subject of the current

Statement. In view of this current

statutory and regulatory direction, the

Statement is no longer necessary.

For the above reasons, the Statement is

hereby rescinded.

By Order of the Board of Directors.

Dated at Washington, D.C., this 14th day of

May, 1996.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Deputy Executive Secretary.

[FR Doc. 96–12927 Filed 5–22–96; 8:45 am]

BILLING CODE 6714–01–P

Capital Forbearance; Rescission of

Policy Statement

AGENCY: Federal Deposit Insurance

Corporation (FDIC).

ACTION: Rescission of policy statement.

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

Guidelines for Implementing a Policy of

Capital Forbearance (Policy Statement).

The Policy Statement provided

guidelines for certain well-managed

viable banks to apply to the FDIC for

capital forbearance. The FDIC is

rescinding the Policy Statement because

it is now outmoded.

EFFECTIVE DATE: This Policy Statement is

rescinded May 23, 1996.

FOR FURTHER INFORMATION CONTACT:

Robert W. Walsh, Manager, (202) 898–

6911, 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 Policy Statement is

outmoded, and that the FDIC’s written

policies can be streamlined by its

elimination.

The FDIC adopted the Policy

Statement on July 7, 1987. 52 FR 26182

(July 13, 1987). The Policy Statement

provided guidelines under which

certain banks, which were wellmanaged, solvent and viable but were

having difficulty raising needed capital

because they served an inadequately

diversified economic sector caught in a

severe downturn, could apply to the

FDIC for capital forbearance. Since all

capital improvement plans established

under the Policy Statement were

required by the Policy Statement’s terms

to assure capital restoration by January

1, 1995, the Policy Statement serves no

further purpose.

Moreover, as part of the Federal

Deposit Insurance Corporation