Notice2024-10787
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Investment Securities
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
May 16, 2024
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information 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, "Investment Securities." The OCC also is giving notice that it has sent the collection to OMB for review.
Full Text
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<title>Federal Register, Volume 89 Issue 96 (Thursday, May 16, 2024)</title>
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[Federal Register Volume 89, Number 96 (Thursday, May 16, 2024)]
[Notices]
[Pages 42926-42927]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-10787]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Investment Securities
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 comment on a continuing information
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,
``Investment Securities.'' The OCC also is giving notice that it has
sent the collection to OMB for review.
DATES: Comments must be received by June 17, 2024.
[[Page 42927]]
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
<bullet> Email: <a href="/cdn-cgi/l/email-protection#0b7b796a62656d644b646868257f796e6a78256c647d"><span class="__cf_email__" data-cfemail="87f7f5e6eee9e1e8c7e8e4e4a9f3f5e2e6f4a9e0e8f1">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0205, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
<bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
<bullet> Fax: (571) 293-4835.
Instructions: You must include ``OCC'' as the agency name and
``1557-0205'' in your comment. In general, the OCC will publish
comments on <a href="http://www.reginfo.gov">www.reginfo.gov</a> without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. 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.
Written comments and recommendations for the proposed information
collection should also be sent within 30 days of publication of this
notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. You can find this
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or using the search function.
You may review comments and other related materials that pertain to
this information collection following the close of the 30-day comment
period for this notice by the method set forth in the next bullet.
<bullet> Viewing Comments Electronically: Go to <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Hover over the ``Information Collection Review'' tab and click on
``Information Collection Review'' from the drop-down menu. From the
``Currently under Review'' drop-down menu, select ``Department of
Treasury'' and then click ``submit.'' This information collection can
be located by searching OMB control number ``1557-0205'' or
``Investment Securities.'' Upon finding the appropriate information
collection, click on the related ``ICR Reference Number.'' On the next
screen, select ``View Supporting Statement and Other Documents'' and
then click on the link to any comment listed at the bottom of the
screen.
<bullet> For assistance in navigating <a href="http://www.reginfo.gov">www.reginfo.gov</a>, please
contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer,
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of
the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf,
hard of hearing, or have a speech disability, please dial 7-1-1 to
access telecommunications relay services.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.),
Federal agencies must obtain approval from the 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.
The OCC asks the OMB to extend its approval of the collection in this
notice.
Title: Investment Securities.
OMB Control No.: 1557-0205.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Description: 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 ensuring
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 for securities held in satisfaction of debts
previously contracted for up to an additional five years. In its
request, the bank must provide a clearly convincing demonstration of
why the 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. The OCC
also uses the information to evaluate the risks to the bank in
extending the holding period, including potential effects on the bank's
safety and soundness.
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\1\ 15 U.S.C. 80a-3(c)(1).
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Estimated Burden:
Estimated Frequency of Response: On occasion.
Estimated Number of Respondents: 25.
Estimated Total Annual Burden: 460 hours.
Comments: On March 11, 2024, the OCC published a 60-day notice for
this information collection, 89 FR 17542. There were no comments
received.
Comments continue to be 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 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 start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Patrick T. Tierney,
Assistant Director, Bank Advisory, Office of the Comptroller of the
Currency.
[FR Doc. 2024-10787 Filed 5-15-24; 8:45 am]
BILLING CODE P
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