[Federal Register Volume 80, Number 71 (Tuesday, April 14, 2015)]
[Notices]
[Pages 20076-20077]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-08493]
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DEPARTMENT OF THE TREASURY
Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Investment Securities
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
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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).
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.
The OCC is soliciting comment concerning renewal of its information
collection titled, ``Investment Securities.''
DATES: You should submit written comments by June 15, 2015.
ADDRESS: 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: 1557-0205, 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 electronic mail 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
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 H. 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., Suite
3E-218, Mail Stop 9W-11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval,
without change, of the following information collection:
Title: Investment Securities.
OMB Control No.: 1557-0205.
Description: This submission covers an existing regulation and
involves no change to the regulation or to the information collection
requirements. The OCC requests only that OMB extend its approval of the
information collection.
The information collection requirements in 12 CFR part 1 are as
follows:
Under 12 CFR 1.3(h)(2), a national bank may request an OCC
determination that it may invest in an entity that is exempt from
registration under section 3(c)(1) of the Investment Company Act of
1940 \1\ if the portfolio of the entity consists exclusively of assets
that a national bank may purchase and sell for its own account. The OCC
uses the information contained in the request as a basis for ensuring
that the bank's investment is consistent with its investment authority
under applicable law and does not pose unacceptable risk.
Under 12 CFR 1.7(b), a national bank may request OCC approval to
extend the five-year holding period for securities held in satisfaction
of debts previously contracted (DPC) for up to an additional five
years. The bank must provide a clearly convincing demonstration of why
any additional holding period is needed. The OCC uses the information
in the request to ensure, on a case-by-case basis, that the bank's
purpose in retaining the securities is not speculative and that the
bank's reasons
[[Page 20077]]
for requesting the extension are adequate. The OCC also uses the
information to evaluate the risks to the bank of extending the holding
period, including potential effects on the bank's safety and soundness.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 25.
Estimated Total Annual Burden: 460 hours.
Frequency of Response: On occasion.
Comments submitted in response to this notice will be summarized
and included in the request for OMB approval. All comments will become
a matter of public record. Comments are invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimate of the burden of the
collection of information;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection 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.
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\1\ 15 U.S.C. 80a-3(c)(1).
Dated: April 8, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-08493 Filed 4-13-15; 8:45 am]
BILLING CODE 4810-33-P