[Federal Register: March 10, 2008 (Volume 73, Number 47)]
[Notices]
[Page 12799-12800]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr10mr08-124]
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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 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 Office of Management
and Budget (OMB) control number. The OCC is soliciting comment
concerning its information collection titled, ``(MA)--Management
Official Interlocks--12 CFR 26.''
DATES: You should submit written comments by May 9, 2008.
ADDRESSES: Communications Division, Office of the Comptroller of the
Currency, Public Information Room, Mail Stop 1-5, Attention: 1557-0196,
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 may personally inspect and photocopy
comments at the OCC's Public Information Room, 250 E Street, SW.,
Washington, DC. For security reasons, the OCC requires that visitors
make an appointment to inspect comments. You may do so by calling (202)
874-5043. 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.
Additionally, you should send a copy of your comments to OCC Desk
Officer, 1557-0196, 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, (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
of the following information collection:
Title: (MA)--Management Official Interlocks--12 CFR 26.
OMB Control Number: 1557-0196.
Description: Under the Interlocks Act, two competing depository
institutions generally may not share management officials. However, the
OCC has legal authority to implement exemptions to this general
prohibition. One such prohibition prohibits a management official of a
depository organization from serving at the same time as a management
official of an unaffiliated depository organization if the depository
organizations in question (or a depository institution affiliate
thereof) have offices in the same relevant metropolitan statistical
area and each depository organization has total assets of $20 million
or more. Section 610 of the Financial Services Regulatory Relief Act of
2006 (12 U.S.C. 3202(1)) raises the total asset threshold of the
depository organization to $50 million. The change was effective as of
October 13, 2006 and adopted by the OCC on January 11, 2007. This
submission covers this change.
The information is needed to prevent any management official
interlock that would result in a monopoly or substantial lessening of
competition. The OCC needs the information to grant exemptions that
foster competition between unaffiliated institutions.
The OCC uses the information to ensure that a proposed management
interlock is permitted under statute, is eligible for an exemption
under section 2210(c) of the Economic Growth and Regulatory Paperwork
Reduction Act of 1996 (12 U.S.C. 3207), and does not have an
anticompetitive effect.
Type of Review: Regular Review.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 2.
Estimated Total Annual Responses: 2.
Estimated Frequency of Response: On occasion.
Estimated Time per Respondent: 2 hours.
Estimated Total Annual Burden: 4 hours.
An agency may not conduct or sponsor, and a respondent is not
required to respond to, an information collection unless the
information collection displays a currently valid OMB control number.
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: March 4, 2008.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division,
Office of the Comptroller of the Currency.
[FR Doc. E8-4624 Filed 3-7-08; 8:45 am]
BILLING CODE 4810-33-P