81 FR 48500 - Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Interagency Guidance on Asset Securitization Activities
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 81, Issue 142 (July 25, 2016)
Office of the Comptroller of the Currency
Federal Register Volume 81, Issue 142 (July 25, 2016)
| Page Range | 48500-48501 | |
| FR Document | 2016-17491 |
[Federal Register Volume 81, Number 142 (Monday, July 25, 2016)] [Notices] [Pages 48500-48501] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-17491] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Interagency Guidance on Asset Securitization Activities AGENCY: Office of the Comptroller of the Currency (OCC), Treasury. ACTION: Notice and request for comment. ----------------------------------------------------------------------- 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 (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, ``Interagency Guidance on Asset Securitization Activities.'' The OCC also is giving notice that it has sent the collection to OMB for review. [[Page 48501]] DATES: Comments must be submitted on or before August 24, 2016. 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: 1557-0217, 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 or, for persons who are deaf or hard of hearing, TTY, (202) 649-5597. 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, 1557-0217, 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: Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, 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 requesting that OMB extend its approval of the following information collection: Title: Interagency Guidance on Asset Securitization Activities. OMB Control No.: 1557-0217. Type of Review: Regular. Description: This information collection applies to institutions engaged in asset securitization activities and provides that any institution engaged in these activities should maintain a written asset securitization policy, document the fair value of retained interests, and maintain a management information system to monitor asset securitization activities. An institution's management uses the information collected to ensure the safe and sound operation of the institution's asset securitization activities. The OCC uses the information to evaluate the quality of an institution's risk management practices. Affected Public: Businesses or other for-profit. Burden Estimates: Estimated Number of Respondents: 35 national banks and Federal savings associations. Estimated Annual Burden: 1,827 hours. Frequency of Response: On occasion. Comments: On April 27, 2016, the OCC issued a 60-day notice soliciting comment on the information collection, 81 FR 24939. 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 information collection burden; (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: July 19, 2016. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2016-17491 Filed 7-22-16; 8:45 am] BILLING CODE P
![48500 Federal Register / Vol. 81, No. 142 / Monday, July 25, 2016 / Notices
and subject to public disclosure. Do not the public and the appropriate agency.3 of awareness of the filing requirements
include any information in your The parties also must file a report in § 35.6 was not considered as this is
comment or supporting materials that annually with the appropriate agency not within the scope of the PRA.
you consider confidential or concerning the disbursement, receipt, Comments continue to be invited on:
inappropriate for public disclosure. and use of funds or other resources (a) Whether the collection of
Additionally, please send a copy of under the agreement.4 The collections of information is necessary for the proper
your comments by mail to: OCC Desk information in CRA Sunshine performance of the functions of the
Officer, 1557–0219, U.S. Office of implement these statutorily mandated OCC, including whether the information
Management and Budget, 725 17th disclosure and reporting requirements. has practical utility;
Street NW., #10235, Washington, DC The parties to the agreement may (b) The accuracy of the OCC’s
20503, or by email to: oira submission@ request confidential treatment of estimate of the information collection
omb.eop.gov. proprietary and confidential burden;
FOR FURTHER INFORMATION CONTACT: information in an agreement or annual (c) Ways to enhance the quality,
Shaquita Merritt, OCC Clearance report.5 utility, and clarity of the information to
Officer, (202) 649–5490 or, for persons The information collections are found be collected;
who are deaf or hard of hearing, TTY, in 12 CFR 35.4(b); 35.6(b)–(d); and (d) Ways to minimize the burden of
(202) 649–5597, Legislative and 35.7(b) and (f). the collection on respondents, including
Regulatory Activities Division, Office of Type of Review: Extension of a through the use of automated collection
the Comptroller of the Currency, currently approved collection. techniques or other forms of information
Washington, DC 20219. Affected Public: Individuals; technology; and
SUPPLEMENTARY INFORMATION: The OCC Businesses or other for-profit. (e) Estimates of capital or start-up
is proposing to extend, without change, Estimated Number of Respondents: costs and costs of operation,
OMB approval of the following 14. maintenance, and purchase of services
information collection: Estimated Total Annual Burden: to provide information.
Title: Disclosure and Reporting of 1,026. Dated: July 19, 2016.
CRA-Related Agreements. Comments: On March 9, 2016, the Karen Solomon,
OMB Control No.: 1557–0219. OCC issued a 60-day notice soliciting
Deputy Chief Counsel, Office of the
Description: National banks, Federal comment on this information collection, Comptroller of the Currency.
savings associations, and their affiliates 81 FR 12565. The OCC received one
[FR Doc. 2016–17488 Filed 7–22–16; 8:45 am]
(institutions) occasionally enter into comment from an individual.
agreements with nongovernmental BILLING CODE 4810–33–P
The commenter stated that the
entities or persons (NGEPs) that are collection is necessary and has practical
related to their Community utility. The commenter suggested that
Reinvestment Act (CRA) DEPARTMENT OF THE TREASURY
the OCC amend 12 CFR 35.6 to require
responsibilities. Section 48 of the that national banks and Federal savings Office of the Comptroller of the
Federal Deposit Insurance Act (FDI associations publish covered agreements Currency
Act) 1 requires disclosure of certain of on their Web sites and that the OCC post
these agreements and imposes reporting them on its Web site as well. The CRA Agency Information Collection
requirements on institutions and other Sunshine statute set forth in section 48 Activities: Information Collection
insured depository institutions (IDIs), of the FDI Act requires that the Federal Renewal; Submission for OMB Review;
their affiliates, and NGEPs. As banking agencies’ CRA Sunshine Interagency Guidance on Asset
mandated by the FDI Act, the OCC, the regulations protect proprietary and Securitization Activities
Federal Deposit Insurance Corporation, confidential information of parties.6 In
and the Federal Reserve Board issued order to comply with that statutory AGENCY: Office of the Comptroller of the
regulations to implement these requirement, the OCC will make Currency (OCC), Treasury.
disclosure and reporting requirements. covered agreements and annual reports ACTION: Notice and request for
The disclosure and reporting provisions available to the public in accordance comment.
of these regulations constitute with the Freedom of Information Act
collections of information under the SUMMARY: The OCC, as part of its
(FOIA) 7 and the OCC’s rules regarding
PRA. The regulation issued by the OCC continuing effort to reduce paperwork
the availability of information under the
is codified at 12 CFR part 35, and the and respondent burden, invites the
FOIA.8
collections of information contained in general public and other Federal
The commenter believed that the
that regulation are known as ‘‘CRA agencies to comment on a continuing
burden estimates may be low as
Sunshine.’’ information collection as required by
institutions may not be aware of the
Section 48 of the FDI Act applies to the Paperwork Reduction Act of 1995
filing requirements in § 35.6(d). The
written agreements that: (1) Are made in (PRA).
commenter requested that the OCC
fulfillment of the CRA; (2) involve funds In accordance with the requirements
discuss how the estimates were derived
or other resources of an IDI or affiliate of the PRA, the OCC may not conduct
and whether the possibility of
with an aggregate value of more than or sponsor, and the respondent is not
underreporting was factored into the
$10,000 in a year or loans with an required to respond to, an information
estimates. The estimates were obtained
aggregate principal value of more than collection unless it displays a currently
by counting the number of actual filings
valid Office of Management and Budget
mstockstill on DSK3G9T082PROD with NOTICES
$50,000 in a year; and (3) are entered received. Failure to report due to a lack
into by an IDI or affiliate of an IDI and (OMB) control number.
an NGEP.2 3 12
The OCC is soliciting comment
U.S.C. 1831y(a).
The parties to a covered agreement 4 12 U.S.C. 1831y(b)–(c).
concerning renewal of its information
must make the agreement available to 5 12 CFR 35.8; see 12 U.S.C. 1831y(h)(2)(A). collection titled, ‘‘Interagency Guidance
6 12 U.S.C. 1831y(h)(2)(A). on Asset Securitization Activities.’’ The
1 12 U.S.C. 1831y. 7 5 U.S.C. 552 et seq. OCC also is giving notice that it has sent
2 12 U.S.C. 1831y(e). 8 12 CFR part 4, subpart b; see 12 CFR 35.8. the collection to OMB for review.
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![Federal Register / Vol. 81, No. 142 / Monday, July 25, 2016 / Notices 48501
DATES: Comments must be submitted on retained interests, and maintain a other Federal agencies to take this
or before August 24, 2016. management information system to opportunity to comment on proposed
ADDRESSES: Because paper mail in the monitor asset securitization activities. and/or continuing information
Washington, DC area and at the OCC is An institution’s management uses the collections, as required by the
subject to delay, commenters are information collected to ensure the safe Paperwork Reduction Act of 1995,
encouraged to submit comments by and sound operation of the institution’s Public Law 104–13 (44 U.S.C.
email, if possible. Comments may be asset securitization activities. The OCC 3506(c)(2)(A)). Currently, the IRS is
sent to: Legislative and Regulatory uses the information to evaluate the soliciting comments concerning
Activities Division, Office of the quality of an institution’s risk Determination of Interest Expense
Comptroller of the Currency, Attention: management practices. Deduction of Foreign Corporation.
1557–0217, 400 7th Street SW., Suite Affected Public: Businesses or other DATES: Written comments should be
3E–218, Mail Stop 9W–11, Washington, for-profit. received on or before September 23,
DC 20219. In addition, comments may Burden Estimates: 2016 to be assured of consideration.
be sent by fax to (571) 465–4326 or by Estimated Number of Respondents: 35 ADDRESSES: Direct all written comments
electronic mail to prainfo@occ.treas.gov. national banks and Federal savings to Tuawana Pinkston, Internal Revenue
You may personally inspect and associations. Service, Room 6526, 1111 Constitution
photocopy comments at the OCC, 400 Estimated Annual Burden: 1,827 Avenue NW., Washington, DC 20224.
7th Street SW., Washington, DC 20219. hours.
Frequency of Response: On occasion. FOR FURTHER INFORMATION CONTACT:
For security reasons, the OCC requires Requests for additional information or
that visitors make an appointment to Comments: On April 27, 2016, the
OCC issued a 60-day notice soliciting copies of the collection tools should be
inspect comments. You may do so by directed to Kerry Dennis, Internal
calling (202) 649–6700 or, for persons comment on the information collection,
81 FR 24939. No comments were Revenue Service, Room 6526, 1111
who are deaf or hard of hearing, TTY, Constitution Avenue NW., Washington,
(202) 649–5597. Upon arrival, visitors received. Comments continue to be
invited on: DC 20224, or through the internet at
will be required to present valid Kerry.Dennis@irs.gov.
government-issued photo identification (a) Whether the collection of
information is necessary for the proper SUPPLEMENTARY INFORMATION:
and submit to security screening in
performance of the functions of the Title: Determination of Interest
order to inspect and photocopy
OCC, including whether the information Expense Deduction of Foreign
comments.
has practical utility; Corporation.
All comments received, including
(b) The accuracy of the OCC’s OMB Number: 1545–2030. Form
attachments and other supporting
estimate of the information collection Number: TD 9465.
materials, are part of the public record Abstract: This document contains
and subject to public disclosure. Do not burden;
(c) Ways to enhance the quality, final regulations under Section 882(c) of
include any information in your the Internal Revenue Code concerning
comment or supporting materials that utility, and clarity of the information to
be collected; the determination of the interest
you consider confidential or expense deduction of foreign
inappropriate for public disclosure. (d) Ways to minimize the burden of
the collection on respondents, including corporations engaged in a trade or
Additionally, please send a copy of
through the use of automated collection business within the United States.
your comments by mail to: OCC Desk
techniques or other forms of information These final regulations conforms the
Officer, 1557–0217, U.S. Office of
technology; and interest expense rules to recent U.S.
Management and Budget, 725 17th
(e) Estimates of capital or start-up Income Tax Treaty agreements and
Street, NW., #10235, Washington, DC
costs and costs of operation, adopt other changes to improve
20503 or by email to: oira submission@
maintenance, and purchase of services compliance.
omb.eop.gov. Current Actions: There are no changes
to provide information.
FOR FURTHER INFORMATION CONTACT: to the previously approved burden of
Shaquita Merritt, OCC Clearance Dated: July 19, 2016.
this existing collection.
Officer, (202) 649–5490 or, for persons Karen Solomon, Type of Review: Extension of a
who are deaf or hard of hearing, TTY, Deputy Chief Counsel, Office of the currently approved collection.
(202) 649–5597, Legislative and Comptroller of the Currency. Affected Public: Businesses or other
Regulatory Activities Division, Office of [FR Doc. 2016–17491 Filed 7–22–16; 8:45 am] for-profit organizations.
the Comptroller of the Currency, 400 7th BILLING CODE P Estimated Number of Respondents:
Street SW., Suite 3E–218, Mail Stop 75.
9W–11, Washington, DC 20219. Estimated Time per Respondent: 28
SUPPLEMENTARY INFORMATION: The OCC DEPARTMENT OF THE TREASURY min.
is requesting that OMB extend its Estimated Total Annual Burden
approval of the following information Internal Revenue Service Hours: 35 hours.
collection: The following paragraph applies to all
Proposed Collection; Comment
Title: Interagency Guidance on Asset of the collections of information covered
Request for Regulation Project.
Securitization Activities. by this notice:
OMB Control No.: 1557–0217. AGENCY: Internal Revenue Service (IRS), An agency may not conduct or
Type of Review: Regular. sponsor, and a person is not required to
mstockstill on DSK3G9T082PROD with NOTICES
Treasury.
Description: This information ACTION: Notice and request for respond to, a collection of information
collection applies to institutions comments. unless the collection of information
engaged in asset securitization activities displays a valid OMB control number.
and provides that any institution SUMMARY: The Department of the Books or records relating to a collection
engaged in these activities should Treasury, as part of its continuing effort of information must be retained as long
maintain a written asset securitization to reduce paperwork and respondent as their contents may become material
policy, document the fair value of burden, invites the general public and in the administration of any internal
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Document Created: 2016-07-23 02:00:41
Document Modified: 2016-07-23 02:00:41
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice and request for comment. | |
| Dates | Comments must be submitted on or before August 24, 2016. | |
| Contact | Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, 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. | |
| FR Citation | 81 FR 48500 |
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