[Federal Register: October 26, 2005 (Volume 70, Number 206)]
[Notices]
[Page 61880-61881]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr26oc05-151]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Proposed Information
Collection; 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, ``Fiduciary Activities of
National Banks--12 CFR part 9.''
DATES: You should submit written comments by December 27, 2005.
ADDRESSES: You should direct your comments to: Communications Division,
Office of the Comptroller of the Currency, Public Information Room,
Mailstop 1-5, Attention: 1557-0140, 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, 1557-0140, 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 Dixon, (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 requesting OMB approval for a
revision to the following information collection:
Title: Fiduciary Activities of National Banks--12 CFR 9.
OMB Number: 1557-0140.
Description: This submission covers an existing regulation and
involves no change to the regulation or to the information collection.
The OCC requests only that OMB approve its revised estimate of the
burden and extend its approval of the information collection.
Under 12 U.S.C. 92a, the OCC regulates the fiduciary activities of
national banks, including the administration of collective investment
funds. The requirements in 12 CFR part 9 enable the OCC to perform its
responsibilities relating to the fiduciary activities of national banks
and collective investment funds. The collections of information in Part
9 are found in 9.8, 9.9(a) and (b), 9.17(a), 9.18(b)(1),
9.18(b)(6)(ii), 9.18(b)(6)(iv), and 9.18(c)(5) as follows:
Section 9.8 requires a national bank to maintain fiduciary records;
Section 9.9(a) and (b) require a national bank to note the results
of a fiduciary audit in the minutes of the board of directors;
Section 9.17(a) requires a national bank that wants to surrender
its fiduciary powers to file with the OCC a
[[Page 61881]]
certified copy of the resolution of its board of directors;
Section 9.18(b)(1) requires a national bank to establish and
maintain each collective investment fund in accordance with a written
plan;
Section 9.18(b)(1) also requires a national bank to make the plan
available for public inspection and to provide a copy of the plan to
any person who requests it;
Section 9.18(b)(6)(ii) requires a national bank to prepare a
financial report of the fund;
Section 9.18(b)(6)(iv) requires a national bank to disclose the
financial report to investors and other interested persons; and
Section 9.18(c)(5) requires a national bank to request OCC approval
of special exemption funds.
Type of Review: Revision of a currently approved collection.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 580.
Estimated Total Annual Responses: 1,177,492.
Frequency of Response: On occasion.
Estimated Total Annual Burden: 309,825 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 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: October 19, 2005.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 05-21352 Filed 10-25-05; 8:45 am]
BILLING CODE 4810-33-P