80_FR_20363 80 FR 20291 - Proposed Agency Information Collection Activities; Submission for OMB Review; Interest-Rate-Risk Vendor Questionnaire

80 FR 20291 - Proposed Agency Information Collection Activities; Submission for OMB Review; Interest-Rate-Risk Vendor Questionnaire

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency

Federal Register Volume 80, Issue 72 (April 15, 2015)

Page Range20291-20292
FR Document2015-08612

The OCC, as part of its continuing effort to reduce paperwork and respondent burden and to fulfill the requirements of the Paperwork Reduction Act of 1995 (PRA), invites the general public and other Federal agencies to take this opportunity to comment on a new information collection. 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. Currently, the OCC is soliciting comment concerning its proposed information collection entitled, ``Interest Rate Risk Vendor Questionnaire.'' It also is giving notice that it has sent the collection to OMB for review.

Federal Register, Volume 80 Issue 72 (Wednesday, April 15, 2015) 
[Federal Register Volume 80, Number 72 (Wednesday, April 15, 2015)]
[Notices]
[Pages 20291-20292]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-08612]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Proposed Agency Information Collection Activities; Submission for 
OMB Review; Interest-Rate-Risk Vendor Questionnaire

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 and to fulfill the requirements of the Paperwork 
Reduction Act of 1995 (PRA), invites the general public and other 
Federal agencies to take this opportunity to comment on a new 
information collection.
    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.
    Currently, the OCC is soliciting comment concerning its proposed 
information collection entitled, ``Interest Rate Risk Vendor 
Questionnaire.'' It also is giving notice that it has sent the 
collection to OMB for review.

DATES: Comments must be submitted on or before May 15, 2015.

ADDRESSES: Because paper mail in the Washington, DC area and at the OCC 
is subject to delay, commenters are encouraged to submit comments by 
email, if possible. Comments may be sent to: Legislative and Regulatory 
Activities Division, Office of the Comptroller of the Currency, 
Attention:

[[Page 20292]]

1557-NEW, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-11, 
Washington, DC 20219. In addition, comments may be sent by fax to (571) 
465-4326 or by email to [email protected]. You may personally 
inspect and photocopy comments at the OCC, 400 7th Street SW., 
Washington, DC 20219. For security reasons, the OCC requires that 
visitors make an appointment to inspect comments. You may do so by 
calling (202) 649-6700. 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.
    All 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.
    Additionally, please send a copy of your comments by mail to: OCC 
Desk Officer, 1557-NEW, U.S. Office of Management and Budget, 725 17th 
Street NW., #10235, Washington, DC 20503, or by email to: oira 
[email protected].

FOR FURTHER INFORMATION CONTACT: Mary Gottlieb, (202) 649-5490, for 
persons who are deaf or hard of hearing, TTY, (202) 649-5597, 
Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency, 400 7th Street SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is proposing to adopt the following 
new information collection:
    Title: Interest Rate Risk Vendor Questionnaire.
    Frequency of Response: Annually.
    Affected Public: Business or other for-profit.
    Respondents: Asset-Liability Management Software Vendors (model 
developers and consultants).
    Total Estimated Number of Respondents: 73 (33 model developers; 40 
consultants).
    Estimated Time per Response: 8 hours for model developers; 4 hours 
for consultants.
    Total Estimated Total Annual Burden: 424 hours.
    Type of Review: Regular.

Abstract

    In June 2014, the Federal Financial Institutions Examination 
Council (FFIEC) \1\ Task Force on Supervision (TFOS) established a 
working group to discuss supervisory processes and strategies for 
monitoring and addressing interest rate risk at insured depository 
institutions. One of the group's key priorities is to complete a 
questionnaire of asset-liability management software vendor model 
developers and consultants. The questionnaire is designed to inform 
examiners of the mechanics and underlying assumptions of specific 
interest rate risk models with the goal of helping examiners gain a 
better understanding of financial institutions' rate sensitivity 
modeling. The questionnaire captures information ranging from basic 
aspects of each vendor or consultant's interest rate risk model, for 
instance, its client base to more complex components, including 
modeling capability. The complex modeling components will provide a 
baseline level of regulatory knowledge about each vendor or 
consultant's ability to measure interest rate risk under a variety of 
approaches, capture data, and measure the risk, including optionality. 
The questionnaire would cover approximately 73 vendors comprised of 33 
model developers and 40 consultants. The questionnaire should take 
approximately 8 hours for each model developer to complete and 4 hours 
for each consultant to complete less detailed responses to model-
related questions.
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    \1\ The FFIEC is a formal interagency body that prescribes 
uniform principles, standards, and report forms for the examination 
of financial institutions by the Board of Governors of the Federal 
Reserve System, the Federal Deposit Insurance Corporation, the 
National Credit Union Administration, the OCC, the Consumer 
Financial Protection Bureau, and makes recommendations to promote 
uniformity in the supervision of financial institutions. In 2006, 
the State Liaison Committee (SLC) was added to the Council as a 
voting member. The SLC includes representatives from the Conference 
of State Bank Supervisors, the American Council of State Savings 
Supervisors, and the National Association of State Credit Union 
Supervisors.
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    The OCC will serve as the sponsoring or central collection agency 
for this information collection. The information will be collected by 
the OCC and made available to the FFIEC's TFOS in order to support its 
discussions concerning supervisory processes and strategies for 
monitoring and addressing interest rate risk at insured depository 
institutions.

Request for Comment

    The OCC published a notice for 60 days of comment on February 3, 
2015 (80 FR 5884). One comment was received from a model vendor. The 
comment was generally favorable but raised an issue about awareness of 
vendor software upgrades; model vendors update software periodically. 
Vendors may have clients using different versions of a model as clients 
are not typically required to move to the most recent version. The 
questionnaire addresses this concern by accommodating several versions 
of each vendor's software.
    Comments continue to be invited on:
    (a) Whether the proposed revisions to the collections of 
information that are the subject of this notice are necessary for the 
proper performance of the agencies' functions, including whether the 
information has practical utility;
    (b) The accuracy of the agencies' estimates of the burden of the 
information collections as they are proposed to be revised, including 
the validity of the methodology and assumptions used;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of information collections 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.
    Comments submitted in response to this joint notice will be shared 
among the agencies. All comments will become a matter of public record.

    Dated: April 9, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-08612 Filed 4-14-15; 8:45 am]
 BILLING CODE 4810-33-P

Federal Register / Vol. 80, No. 72 / Wednesday, April 15, 2015 / Notices 20291 3E–218, Mail Stop 9W–11, Washington, condition.1 On May 17, 2012, the OCC, information collections, including the DC 20219. In addition, comments may along with the Federal Deposit validity of the methodology and be sent by fax to (571) 465–4326 or by Insurance Corporation (FDIC) and Board assumptions used; electronic mail to regs.comments@ of Governors of the Federal Reserve (c) Ways to enhance the quality, occ.treas.gov. You may personally (FRB), published guidance on the use of utility, and clarity of the information to inspect and photocopy comments at the stress testing as a means to better be collected; OCC, 400 7th Street SW., Washington, understand the range of a banking (d) Ways to minimize the burden of DC 20219. For security reasons, the OCC organization’s potential risk exposures.2 information collections on respondents, requires that visitors make an The OCC is now seeking to renew the including through the use of automated appointment to inspect comments. You information collection associated with collection techniques or other forms of may do so by calling (202) 649–6700. that guidance. information technology; and Upon arrival, visitors will be required to The guidance provides an overview of (e) Estimates of capital or start-up present valid government-issued photo how a banking organization should costs and costs of operation, identification and submit to security structure its stress testing activities to maintenance, and purchase of services screening in order to inspect and ensure they fit into the banking to provide information. photocopy comments. organization’s overall risk management. Dated: April 9, 2015. All comments received, including The purpose of the guidance is to Mary H. Gottlieb, attachments and other supporting outline broad principles for a Regulatory Specialist, Legislative and materials, are part of the public record satisfactory stress testing framework and Regulatory Activities Division. and subject to public disclosure. Do not to describe the manner in which stress [FR Doc. 2015–08611 Filed 4–14–15; 8:45 am] include any information in your testing should be used, that is as an BILLING CODE 4810–33–P comment or supporting materials that integral component of risk management you consider confidential or applicable at various levels of inappropriate for public disclosure. aggregation within a banking DEPARTMENT OF THE TREASURY FOR FURTHER INFORMATION CONTACT: organization, as well as a tool for capital Mary H. Gottlieb, (202) 649–5490, for and liquidity planning. While the Office of the Comptroller of the persons who are deaf or hard of hearing, guidance is not intended to provide Currency TTY, (202) 649–5597, Legislative and detailed instructions for conducting Regulatory Activities Division, Office of stress testing for any particular risk or Proposed Agency Information the Comptroller of the Currency, 400 7th business area, it does describe several Collection Activities; Submission for Street SW., Suite 3E–218, Mail Stop types of stress testing activities and how OMB Review; Interest-Rate-Risk 9W–11, Washington, DC 20219. they may be most appropriately used by Vendor Questionnaire banking organizations. The guidance SUPPLEMENTARY INFORMATION: Under the AGENCY: Office of the Comptroller of the also does not explicitly address the PRA (44 U.S.C. 3501–3520), Federal Currency (OCC), Treasury. stress testing requirements imposed agencies must obtain approval from the ACTION: Notice and request for comment. upon certain companies by section Office of Management and Budget 165(i) of the Dodd-Frank Wall Street SUMMARY: The OCC, as part of its (OMB) for each collection of Reform and Consumer Protection Act.3 continuing effort to reduce paperwork information they conduct or sponsor. Type of Review: Regular. ‘‘Collection of information’’ is defined and respondent burden and to fulfill the Affected Public: Businesses or other requirements of the Paperwork in 44 U.S.C. 3502(3) and 5 CFR for-profit. 1320.3(c) to include agency requests or Reduction Act of 1995 (PRA), invites the Estimated Number of Respondents: requirements that members of the public general public and other Federal 50. submit reports, keep records, or provide Estimated annual burden: 13,000 agencies to take this opportunity to information to a third party. Section hours. comment on a new information 3506(c)(2)(A) of the PRA (44 U.S.C. Comments submitted in response to collection. 3506(c)(2)(A)) requires Federal agencies this notice will be summarized and In accordance with the requirements to provide a 60-day notice in the included in the request for OMB of the PRA, the OCC may not conduct Federal Register concerning each approval. All comments will become a or sponsor, and the respondent is not proposed collection of information, matter of public record. Comments are required to respond to, an information including each proposed extension of an invited on: collection unless it displays a currently existing collection of information, (a) Whether the collections of valid Office of Management and Budget before submitting the collection to OMB information are necessary for the proper (OMB) control number. for approval. To comply with this performance of the OCC’s functions, Currently, the OCC is soliciting requirement, the OCC is publishing including whether the information has comment concerning its proposed notice of the proposed collection of practical utility; information collection entitled, ‘‘Interest information set forth in this document. (b) The accuracy of the OCC’s Rate Risk Vendor Questionnaire.’’ It also The OCC is proposing to extend OMB estimates of the burden of the is giving notice that it has sent the approval of the following information collection to OMB for review. collection: 1 For purposes of this guidance, the term DATES: Comments must be submitted on Title: Recordkeeping and Disclosure ‘‘banking organization’’ means national banks and or before May 15, 2015. Federal branches and agencies supervised by the Provisions Associated with Stress ADDRESSES: Because paper mail in the OCC; state member banks, bank holding companies, tkelley on DSK3SPTVN1PROD with NOTICES Testing Guidance. and all other institutions for which the FRB is the Washington, DC area and at the OCC is OMB Control No.: 1557–0312. primary Federal supervisor; and state nonmember subject to delay, commenters are Description: Each banking insured banks and other institutions supervised by encouraged to submit comments by the FDIC. organization should have the capacity to 2 77 FR 29458 (May 17, 2012). email, if possible. Comments may be understand its risks and the potential 3 Pub. L. 111–203, 124 Stat. 1376. Section 165(i) sent to: Legislative and Regulatory impact of stressful events and of the Dodd-Frank Act is codified at 12 U.S.C. Activities Division, Office of the circumstances on its financial 5365(i)(2). Comptroller of the Currency, Attention: VerDate Sep<11>2014 17:29 Apr 14, 2015 Jkt 235001 PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 E:\FR\FM\15APN1.SGM 15APN1

20292 Federal Register / Vol. 80, No. 72 / Wednesday, April 15, 2015 / Notices 1557–NEW, 400 7th Street SW., Suite (TFOS) established a working group to addresses this concern by 3E–218, Mail Stop 9W–11, Washington, discuss supervisory processes and accommodating several versions of each DC 20219. In addition, comments may strategies for monitoring and addressing vendor’s software. be sent by fax to (571) 465–4326 or by interest rate risk at insured depository Comments continue to be invited on: email to regs.comments@occ.treas.gov. institutions. One of the group’s key (a) Whether the proposed revisions to You may personally inspect and priorities is to complete a questionnaire the collections of information that are photocopy comments at the OCC, 400 of asset-liability management software the subject of this notice are necessary 7th Street SW., Washington, DC 20219. vendor model developers and for the proper performance of the For security reasons, the OCC requires consultants. The questionnaire is agencies’ functions, including whether that visitors make an appointment to designed to inform examiners of the the information has practical utility; inspect comments. You may do so by mechanics and underlying assumptions (b) The accuracy of the agencies’ calling (202) 649–6700. Upon arrival, of specific interest rate risk models with estimates of the burden of the visitors will be required to present valid the goal of helping examiners gain a information collections as they are government-issued photo identification better understanding of financial proposed to be revised, including the and submit to security screening in institutions’ rate sensitivity modeling. validity of the methodology and order to inspect and photocopy The questionnaire captures information assumptions used; comments. ranging from basic aspects of each (c) Ways to enhance the quality, All comments received, including vendor or consultant’s interest rate risk utility, and clarity of the information to attachments and other supporting model, for instance, its client base to be collected; materials, are part of the public record more complex components, including (d) Ways to minimize the burden of and subject to public disclosure. Do not modeling capability. The complex information collections on respondents, include any information in your modeling components will provide a including through the use of automated comment or supporting materials that baseline level of regulatory knowledge collection techniques or other forms of you consider confidential or about each vendor or consultant’s information technology; and inappropriate for public disclosure. ability to measure interest rate risk (e) Estimates of capital or start-up Additionally, please send a copy of under a variety of approaches, capture costs and costs of operation, your comments by mail to: OCC Desk data, and measure the risk, including maintenance, and purchase of services Officer, 1557–NEW, U.S. Office of optionality. The questionnaire would to provide information. Management and Budget, 725 17th cover approximately 73 vendors Comments submitted in response to Street NW., #10235, Washington, DC comprised of 33 model developers and this joint notice will be shared among 20503, or by email to: oira submission@ 40 consultants. The questionnaire the agencies. All comments will become omb.eop.gov. should take approximately 8 hours for a matter of public record. FOR FURTHER INFORMATION CONTACT: each model developer to complete and Dated: April 9, 2015. Mary Gottlieb, (202) 649–5490, for 4 hours for each consultant to complete Mary H. Gottlieb, persons who are deaf or hard of hearing, less detailed responses to model-related Regulatory Specialist, Legislative and TTY, (202) 649–5597, Legislative and questions. Regulatory Activities Division. The OCC will serve as the sponsoring Regulatory Activities Division, Office of [FR Doc. 2015–08612 Filed 4–14–15; 8:45 am] or central collection agency for this the Comptroller of the Currency, 400 7th BILLING CODE 4810–33–P information collection. The information Street SW., Washington, DC 20219. will be collected by the OCC and made SUPPLEMENTARY INFORMATION: The OCC available to the FFIEC’s TFOS in order is proposing to adopt the following new DEPARTMENT OF THE TREASURY to support its discussions concerning information collection: supervisory processes and strategies for Title: Interest Rate Risk Vendor Bureau of the Fiscal Service monitoring and addressing interest rate Questionnaire. risk at insured depository institutions. Proposed Collection of Information: Frequency of Response: Annually. Request for Payment of Federal Affected Public: Business or other for- Request for Comment Benefit by Check, EFT Waiver Form profit. The OCC published a notice for 60 Respondents: Asset-Liability days of comment on February 3, 2015 Notice and request for ACTION: Management Software Vendors (model (80 FR 5884). One comment was comments. developers and consultants). received from a model vendor. The Total Estimated Number of comment was generally favorable but SUMMARY: The Department of the Respondents: 73 (33 model developers; raised an issue about awareness of Treasury, as part of its continuing effort 40 consultants). vendor software upgrades; model to reduce paperwork and respondent Estimated Time per Response: 8 hours vendors update software periodically. burden, invites the general public and for model developers; 4 hours for Vendors may have clients using other Federal agencies to take this consultants. different versions of a model as clients opportunity to comment on a proposed Total Estimated Total Annual Burden: are not typically required to move to the and/or continuing information 424 hours. most recent version. The questionnaire collection, as required by the Paperwork Type of Review: Regular. Reduction Act of 1995, Public Law 104– System, the Federal Deposit Insurance Corporation, 13 (44 U.S.C. 3506(c)(2)(A). Currently Abstract the National Credit Union Administration, the OCC, the Bureau of the Fiscal Service within In June 2014, the Federal Financial the Consumer Financial Protection Bureau, and tkelley on DSK3SPTVN1PROD with NOTICES the Department of the Treasury is Institutions Examination Council makes recommendations to promote uniformity in the supervision of financial institutions. In 2006, soliciting comments concerning the (FFIEC) 1 Task Force on Supervision the State Liaison Committee (SLC) was added to the ‘‘Request for Payment of Federal Benefit Council as a voting member. The SLC includes by Check, EFT Waiver Form’’. 1 The FFIEC is a formal interagency body that representatives from the Conference of State Bank DATES: Written comments should be prescribes uniform principles, standards, and report Supervisors, the American Council of State Savings forms for the examination of financial institutions Supervisors, and the National Association of State received on or before June 15, 2015 to by the Board of Governors of the Federal Reserve Credit Union Supervisors. be assured of consideration. VerDate Sep<11>2014 17:29 Apr 14, 2015 Jkt 235001 PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 E:\FR\FM\15APN1.SGM 15APN1


Document Created: 2015-12-18 11:13:48
Document Modified: 2015-12-18 11:13:48
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for comment.
DatesComments must be submitted on or before May 15, 2015.
ContactMary Gottlieb, (202) 649-5490, for persons who are deaf or hard of hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Washington, DC 20219.
FR Citation80 FR 20291 
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