[Federal Register Volume 82, Number 137 (Wednesday, July 19, 2017)]
[Notices]
[Pages 33202-33204]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-15135]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Reporting and Recordkeeping Requirements
Associated With Liquidity Coverage Ratio: Liquidity Risk Measurement,
Standards, and Monitoring
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
[[Page 33203]]
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 the renewal of its
information collection titled ``Reporting and Recordkeeping
Requirements Associated with Liquidity Coverage Ratio: Liquidity Risk
Measurement, Standards, and Monitoring.''
DATES: You should submit written comments by September 18, 2017.
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: 1557-0323, 400 7th Street SW., Suite 3E-218, 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 or, for persons who are deaf or hard of hearing, TTY, (202) 649-
5597. 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.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490, Legislative and Regulatory Activities
Division, Office of the Comptroller of the Currency, 400 7th Street
SW., Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), federal
agencies must obtain approval from OMB for each collection of
information that they conduct or sponsor. ``Collection of information''
is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency
requests or requirements that members of the public submit reports,
keep records, or provide information to a third party. Section
3506(c)(2)(A) of title 44 requires federal agencies to provide a 60-day
notice in the Federal Register concerning each proposed collection of
information, including each proposed extension of an existing
collection of information, before submitting the collection to OMB for
approval. To comply with this requirement, the OCC is publishing notice
of the renewal of the collection of information set forth in this
document.
Title: Reporting and Recordkeeping Requirements Associated with
Liquidity Coverage Ratio: Liquidity Risk Measurement, Standards, and
Monitoring.
OMB Control No.: 1557-0223.
Affected Public: Business or other for-profit.
Type of Review: Regular review.
Abstract: The quantitative liquidity requirement (12 CFR part 50)
is designed to promote improvements in the measurement and management
of liquidity risk.
The rule applies to large and internationally active banking
organizations--generally, bank holding companies, certain savings and
loan holding companies, and depository institutions with $250 billion
or more in total assets or $10 billion or more in on-balance sheet
foreign exposure--and to their consolidated subsidiaries that are
depository institutions with $10 billion or more in total consolidated
assets.
Section 50.22 requires that, with respect to each asset eligible
for inclusion in a national bank or federal savings association's high-
quality liquid assets (HQLA) amount, the national bank or federal
savings association must implement policies that require eligible HQLA
to be under the control of the management function in the national bank
or federal savings association responsible for managing liquidity risk.
The management function must evidence its control over the HQLA by
segregating the HQLA from other assets, with the sole intent to use the
HQLA as a source of liquidity, or demonstrating the ability to monetize
the assets and making the proceeds available to the liquidity
management function without conflicting with a business or risk
management strategy of the national bank or federal savings
association. In addition, Sec. 50.22 requires that a national bank or
federal savings association have a documented methodology that results
in a consistent treatment for determining that the national bank or
federal savings association's eligible HQLA meet the requirements of
Sec. 50.22.
Section 50.40 requires that a national bank or federal savings
association notify its appropriate federal banking agency on any day
when its liquidity coverage ratio is calculated to be less than the
minimum requirement in Sec. 50.10. If a national bank or federal
savings association's liquidity coverage ratio is below the minimum
requirement in Sec. 50.10 for three consecutive days, or if the OCC
has determined that the institution is otherwise materially
noncompliant, the national bank or federal savings association must
promptly provide a plan for achieving compliance with the minimum
liquidity requirement in Sec. 50.10 and all other requirements of
Sec. 50.40 to the OCC.
The liquidity plan must include, as applicable: (1) An assessment
of the national bank or federal savings association's liquidity
position; (2) the actions the national bank or federal savings
association has taken and will take to achieve full compliance,
including a plan for adjusting the national bank or federal savings
association's risk profile, risk management, and funding sources in
order to achieve full compliance and a plan for remediating any
operational or management issues that contributed to noncompliance; (3)
an estimated time frame for achieving full compliance; and (4) a
commitment to provide a progress report to the OCC at least weekly
until full compliance is achieved.
Frequency of Response: Annual and event generated.
Affected Public: Covered national banks and federal savings
associations.
Estimated Number of Respondents: 19.
Estimated Total Annual Burden: 2,361 hours.
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 information
collection burden;
(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.
[[Page 33204]]
Dated: July 13, 2017.
Karen Solomon,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2017-15135 Filed 7-18-17; 8:45 am]
BILLING CODE 4810-33-P