[Federal Register Volume 80, Number 22 (Tuesday, February 3, 2015)]
[Notices]
[Pages 5884-5885]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-02001]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Proposed Agency Information Collection Activities; Comment
Request; Interest-Rate-Risk Vendor Questionnaire
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to take this opportunity to comment on a continuing
information collection, as required by the Paperwork Reduction Act of
1995 (PRA).
Under the PRA, Federal agencies are required to publish notice in
the Federal Register concerning each proposed collection of information
and allow 60 days for public comment in response to the notice.
In accordance with the requirements of the PRA, the OCC may not
conduct or sponsor, and the respondent is not required to respond to,
an information collection unless it displays a currently valid Office
of Management and Budget (OMB) control number.
Currently, the OCC is soliciting comment concerning its proposed
information collection entitled, ``Interest Rate Risk Vendor
Questionnaire.''
DATES: Comments must be submitted on or before April 6, 2015.
ADDRESSES: Because paper mail in the Washington, DC area and at the OCC
is subject to delay, commenters are encouraged to submit comments by
email, if possible. Comments may be sent to: Legislative and Regulatory
Activities Division, Office of the Comptroller of the Currency,
Attention: 1557-NEW, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-11,
Washington, DC 20219. In addition, comments may be sent by fax to (571)
465-4326 or by email to [email protected]. You may personally
inspect and photocopy comments at the OCC, 400 7th Street SW.,
Washington, DC 20219. For security reasons, the OCC requires that
visitors make an appointment to inspect comments. You may do so by
calling (202) 649-6700. Upon arrival, visitors will be required to
present valid government-issued photo identification and to submit to
security screening in order to inspect and photocopy comments.
All comments received, including attachments and other supporting
materials, are part of the public record and subject to public
disclosure. Do not enclose any information in your comment or
supporting materials that you consider confidential or inappropriate
for public disclosure.
FOR FURTHER INFORMATION CONTACT: Mary Gottlieb, OCC Clearance Officer,
(202) 649-5490, for persons who are deaf or hard of hearing, TTY, (202)
649-5597, Legislative and Regulatory Activities Division, Office of the
Comptroller of the Currency, 400 7th Street SW., Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is proposing to adopt the following
new information collection:
Title: Interest Rate Risk Vendor Questionnaire.
Form Number: N/A.
Frequency of Response: Annually.
Affected Public: Business or other for-profit.
Respondents: Asset-Liability Management Software Vendors (model
developers and consultants).
Total Estimated Number of Respondents: 73 (33 model developers; 40
consultants).
Estimated Time per Response: 8 hours for model developers; 4 hours
for consultants.
Total Estimated Total Annual Burden: 424 hours.
Type of Review: Regular.
Abstract
In June 2014, the Federal Financial Institutions Examination
Council (FFIEC) \1\ Task Force on Supervision (TFOS) established a
working group to discuss supervisory processes and strategies for
monitoring and addressing interest rate risk at insured depository
institutions. One of the group's key priorities is to complete a
questionnaire of asset-liability management software vendors, both
model developers and consultants. The questionnaire is designed to
inform examiners of the mechanics and underlying assumptions of
specific interest rate risk models with the goal of helping examiners
gain a better understanding of financial institutions' rate sensitivity
modeling. The questionnaire captures information ranging from basic
aspects of each vendor or consultant's interest rate risk model, for
instance, its client base to more complex components, including
modeling capability. The complex modeling components will provide a
baseline level of regulatory knowledge about each vendor or
consultant's ability to measure interest rate risk under a variety of
approaches, capture data, and measure the risk, including optionality.
Staff is recommending that the questionnaire cover approximately 73
vendors comprised of 33 model developers and 40 consultants. The
questionnaire should take approximately 8 hours for each model
developer to complete and 4 hours for each consultant as consultants
are not required to answer questions related to a model with the same
granularity as the model developers.
---------------------------------------------------------------------------
\1\ The FFIEC is a formal interagency body empowered to
prescribe uniform principles, standards, and report forms for the
examination of financial institutions by the Board of Governors of
the Federal Reserve System, the Federal Deposit Insurance
Corporation, the National Credit Union Administration, the OCC, the
Consumer Financial Protection Bureau, and to make recommendations to
promote uniformity in the supervision of financial institutions. In
2006, the State Liaison Committee (SLC) was added to the Council as
a voting member. The SLC includes representatives from the
Conference of State Bank Supervisors, the American Council of State
Savings Supervisors, and the National Association of State Credit
Union Supervisors.
---------------------------------------------------------------------------
The OCC will serve as the sponsoring or central collection agency
for this information collection. The information will be collected by
the OCC and made available to the FFIEC's TFOS in order to support its
discussions concerning supervisory processes and strategies for
monitoring and addressing interest rate risk at insured depository
institutions.
[[Page 5885]]
Request for Comment
Public comment is requested on all aspects of this joint notice.
Comments are invited on:
(a) Whether the proposed revisions to the collections of
information that are the subject of this notice are necessary for the
proper performance of the agencies' functions, including whether the
information has practical utility;
(b) The accuracy of the agencies' estimates of the burden of the
information collections as they are proposed to be revised, including
the validity of the methodology and assumptions used;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of information collections on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Comments submitted in response to this joint notice will be shared
among the agencies. All comments will become a matter of public record.
Dated: January 27, 2015.
Stuart E. Feldstein,
Director, Legislative and Regulatory Activities Division.
[FR Doc. 2015-02001 Filed 2-2-15; 8:45 am]
BILLING CODE 4810-33-P