[Federal Register: May 8, 2009 (Volume 74, Number 88)]
[Notices]
[Page 21738-21739]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr08my09-123]
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DEPARTMENT OF THE TREASURY
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, ``Investment
Securities.''
DATES: You should submit written comments by July 7, 2009.
ADDRESSES: Communications Division, Office of the Comptroller of the
Currency, Mailstop 2-3, Attention: 1557-0205, 250 E Street, SW.,
Washington, DC 20219. In addition, comments may be sent by fax to (202)
874-5274, or by electronic mail to regs.comments@occ.treas.gov. You may
personally inspect and photocopy comments at the OCC, 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) 874-4700. 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, 1557-0205, 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 H. Gottlieb, OCC Clearance
Officer, (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.
OMB Control No.: 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 1.3(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 \1\ 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.
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\1\ 15 U.S.C. 80a-3(c)(1).
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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.
[[Page 21739]]
Estimated Total Annual Burden: 460 hours.
Frequency of Response: On occasion.
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: May 4, 2009.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. E9-10773 Filed 5-7-09; 8:45 am]
BILLING CODE 4810-33-P