80 FR 35740 - Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Investment Securities

DEPARTMENT OF THE TREASURY
Comptroller of the Currency

Federal Register Volume 80, Issue 119 (June 22, 2015)

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 (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 renewal of its information collection titled, ``Investment Securities.'' The OCC also is giving notice that it has sent the collection to OMB for review.

[Federal Register Volume 80, Number 119 (Monday, June 22, 2015)]
[Notices]
[Pages 35740-35741]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-15255]


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DEPARTMENT OF THE TREASURY

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 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 (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 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: You should submit written comments by July 22, 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: 1557-0205, 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 electronic mail 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, 1557-0205, U.S. Office of Management and Budget, 725 17th 
Street NW., #10235, Washington, DC 20503, or by email to 
[email protected].

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, 
(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., Suite 3E-218, Mail 
Stop 9W-11, 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:

[[Page 35741]]

    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 a 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 for 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. The OCC also 
uses the information to evaluate the risks to the bank of extending the 
holding period, including potential effects on the bank's 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 Burden: 460 hours.
    Frequency of Response: On occasion.
    The OCC published a 60-day Federal Register notice concerning this 
collection on April 14, 2015, (80 FR 20076). No comments were 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.

    Dated: June 17, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-15255 Filed 6-19-15; 8:45 am]
BILLING CODE 4810-33-P