[Federal Register Volume 80, Number 72 (Wednesday, April 15, 2015)]
[Notices]
[Pages 20291-20292]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-08612]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Proposed Agency Information Collection Activities; Submission for
OMB Review; 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 and to fulfill the requirements of the Paperwork
Reduction Act of 1995 (PRA), invites the general public and other
Federal agencies to take this opportunity to comment on a new
information collection.
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.'' It also is giving notice that it has sent the
collection to OMB for review.
DATES: Comments must be submitted on or before May 15, 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:
[[Page 20292]]
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 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 include any information in your comment or
supporting materials that you consider confidential or inappropriate
for public disclosure.
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-NEW, U.S. Office of Management and Budget, 725 17th
Street NW., #10235, Washington, DC 20503, or by email to: oira
[email protected].
FOR FURTHER INFORMATION CONTACT: Mary Gottlieb, (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.
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 vendor 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.
The questionnaire would 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 to complete less detailed responses to model-
related questions.
---------------------------------------------------------------------------
\1\ The FFIEC is a formal interagency body that prescribes
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 makes 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.
Request for Comment
The OCC published a notice for 60 days of comment on February 3,
2015 (80 FR 5884). One comment was received from a model vendor. The
comment was generally favorable but raised an issue about awareness of
vendor software upgrades; model vendors update software periodically.
Vendors may have clients using different versions of a model as clients
are not typically required to move to the most recent version. The
questionnaire addresses this concern by accommodating several versions
of each vendor's software.
Comments continue to be 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: April 9, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-08612 Filed 4-14-15; 8:45 am]
BILLING CODE 4810-33-P