[Federal Register: August 23, 2006 (Volume 71, Number 163)]
[Notices]
[Page 49502-49503]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr23au06-125]
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DEPARTMENT OF THE TREASURY
Comptroller of the Currency
Agency Information Collection Activities: Submission for OMB
Review; Comment Request
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. An agency may not conduct or sponsor, and a respondent is not
required to respond to, an information collection unless it displays a
currently valid OMB control number. The OCC is soliciting comment
concerning its information collection titled, ``Investment Securities
(12 CFR part 1).'' The OCC also gives notice that it has sent the
information collection to the Office of Management and Budget (OMB) for
review.
DATES: You should submit written comments by September 22, 2006.
[[Page 49503]]
ADDRESSES: You should direct your comments to: Communications Division,
Office of the Comptroller of the Currency, Public Information Room,
Mailstop 1-5, Attention: 1557-0205, 250 E Street, SW., Washington, DC
20219. In addition, comments may be sent by fax to (202) 874-4448, or
by electronic mail to regs.comments@occ.treas.gov. You can inspect and
photocopy the comments at the OCC's Public Information Room, 250 E
Street, SW., Washington, DC 20219. You can make an appointment to
inspect the comments by calling (202) 874-5043.
Additionally, you should send a copy of your comments to OCC Desk
Officer, 1557-0205, by mail to U.S. Office of Management and Budget,
725 17th Street, NW., 10235, Washington, DC 20503, or by fax
to (202) 395-6974.
FOR FURTHER INFORMATION CONTACT: You can request additional information
or a copy of the collection from Mary Gottlieb, OCC Clearance Officer,
or Camille Dickerson, (202) 874-5090, Legislative and Regulatory
Activities Division, Office of the Comptroller of the Currency, 250 E
Street, SW., Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval,
without change, of the following information collection:
Title: Investment Securities (12 CFR part 1).
OMB Number: 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 1.4(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 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 determining 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 of 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 for requesting the extension are adequate, and to
evaluate the risks to the bank of extending the holding period,
including potential effects on bank 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 Responses: 25.
Estimated Total Annual Burden: 460 hours.
Frequency of Response: On occasion.
The OCC issued a 60-day notice for comment on May 24, 2006. 71 FR
30021. No comments were received. Comments continued to be invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information has practical utility;
(b) The accuracy of the agency'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 startup costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: August 16, 2006.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. E6-13924 Filed 8-22-06; 8:45 am]
BILLING CODE 4810-33-P