81 FR 8126 - Agency Information Collection Activities: Information Collection Renewal; Comment Request; Leveraged Lending
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 81, Issue 31 (February 17, 2016)
Office of the Comptroller of the Currency
Federal Register Volume 81, Issue 31 (February 17, 2016)
| Page Range | 8126-8127 | |
| FR Document | 2016-03201 |
[Federal Register Volume 81, Number 31 (Wednesday, February 17, 2016)] [Notices] [Pages 8126-8127] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-03201] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Comment Request; Leveraged Lending 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 take this opportunity to comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. chapter 35). 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, ``Leveraged Lending.'' DATES: Comments must be received by April 18, 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: 1557-0315, 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 prainfo@occ.treas.gov. 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. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, 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., Washington, DC 20219. SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal agencies must obtain approval from OMB for each collection of information 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. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) requires Federal agencies to provide a 60-day notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, before submitting the collection to OMB for approval. To comply with this requirement, the OCC is publishing notice of the proposed collection of information set forth in this document. [[Page 8127]] The OCC is proposing to extend OMB approval of the following information collection: Title: Leveraged Lending. OMB Control No.: 1557-0315. Description: On March 22, 2013, the agencies \1\ issued guidance stating that they expected financial institutions \2\ to properly evaluate and monitor underwritten credit risks in leveraged loans, to understand the effect of changes in borrowers' enterprise values on credit portfolio quality, and to assess the sensitivity of future credit losses to these changes in enterprise values.\3\ In underwriting such credits, financial institutions should ensure that borrowers are able to repay credits when due and that borrowers have sustainable capital structures, including bank borrowings and other debt, to support their continued operations through economic cycles. Financial institutions also should be able to demonstrate they understand the risks and the potential impact of stressful events and circumstances on borrowers' financial condition. --------------------------------------------------------------------------- \1\ OCC, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation. \2\ For the OCC, the term ``financial institution'' or ``institution'' includes national banks, Federal savings associations, and Federal branches and agencies supervised by the OCC. \3\ 78 FR 17766 (March 22, 2013). --------------------------------------------------------------------------- The final guidance stated that financial institutions should have: (i) underwriting policies for leveraged lending, including stress- testing procedures for leveraged credits; (ii) risk management policies, including stress-testing procedures for pipeline exposures; and, (iii) policies and procedures for incorporating the results of leveraged credit and pipeline stress tests into the firm's overall stress-testing framework. Respondents are financial institutions with leveraged lending activities as defined in the guidance. Title: Guidance on Leveraged Lending. OMB Control No.: 1557-0315. Frequency of Response: Annual. Affected Public: Financial institutions with leveraged lending. Burden Estimates: Estimated number of respondents: 29. Estimated total annual burden: 39,162 hours to build; 49,462 hours for ongoing use. Total estimated annual burden: 88,624 hours. Comments submitted in response to this notice will be summarized and included in the submission to OMB. Comments are requested on: (a) Whether the information collections are necessary for the proper performance of the OCC's functions, including whether the information has practical utility; (b) The accuracy of the OCC's estimates of the burden of the information collections, 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 startup costs and costs of operation, maintenance, and purchase of services to provide information. Dated: February 11, 2016. Mary Hoyle Gottlieb, Regulatory Specialist, Office of the Comptroller of the Currency. [FR Doc. 2016-03201 Filed 2-16-16; 8:45 am] BILLING CODE 4810-33-P
![8126 Federal Register / Vol. 81, No. 31 / Wednesday, February 17, 2016 / Notices
disengage the double-lock by using the U.S.C. 30118 and remedying the DATES: Comments must be received by
key fob. AML believes that as a result, noncompliance as required by 49 U.S.C. April 18, 2016.
the double-locking mechanism could 30120 should be granted. ADDRESSES: Because paper mail in the
not cause a situation in which a vehicle NHTSA notes that the statutory Washington, DC area and at the OCC is
is double-locked from the inside by the provisions (49 U.S.C. 30118(d) and subject to delay, commenters are
driver and a crash disables the driver, 30120(h)) that permit manufacturers to encouraged to submit comments by
leaving the passenger(s) locked inside. file petitions for a determination of email, if possible. Comments may be
(b) AML stated that the risks of inconsequentiality allow NHTSA to sent to: Legislative and Regulatory
children being locked in the vehicle by exempt manufacturers only from the Activities Division, Office of the
means of the double-locking duties found in sections 30118 and Comptroller of the Currency, Attention:
mechanism, does not pose an 30120, respectively, to notify owners, 1557–0315, 400 7th Street SW., Suite
unacceptable risk to motor vehicle purchasers, and dealers of a defect or 3E–218, Mail Stop 9W–11, Washington,
safety. AML believes that compared to noncompliance and to remedy the DC 20219. In addition, comments may
other motor vehicles, AML’s vehicles defect or noncompliance. Therefore, any be sent by fax to (571) 465–4326 or by
are rarely used to transport children. decision on this petition only applies to electronic mail to prainfo@occ.treas.gov.
With the exception of the Rapide and the subject vehicles that AML no longer You may personally inspect and
Rapide S models, all Aston Martin controlled at the time it determined that photocopy comments at the OCC, 400
vehicles are two-door sports cars. the noncompliance existed. However, 7th Street SW., Washington, DC 20219.
Moreover, AML states that the double- any decision on this petition does not For security reasons, the OCC requires
locking mechanism in the subject relieve vehicle distributors and dealers that visitors make an appointment to
vehicles poses no greater risk to of the prohibitions on the sale, offer for inspect comments. You may do so by
children than the child safety locks sale, or introduction or delivery for calling (202) 649–6700 or, for persons
expressly found to be permitted by introduction into interstate commerce of who are deaf or hard of hearing, TTY,
FMVSS No. 206. the noncompliant vehicles under their (202) 649–5597. Upon arrival, visitors
(c) AML stated its belief that there is control after AML notified them that the will be required to present valid
little risk that any adults will be locked subject noncompliance existed. government-issued photo identification
in its vehicles. Authority: 49 U.S.C. 30118, 30120: and submit to security screening in
(d) AML stated that in the event a delegations of authority at 49 CFR 1.95 and order to inspect and photocopy
driver were to inadvertently lock a 501.8. comments.
passenger in one of the subject vehicles, All comments received, including
the passenger would be able to sound Jeffrey M. Giuseppe,
Director, Office of Vehicle Safety Compliance. attachments and other supporting
the horn, which would remain materials, are part of the public record
functional, allowing the passenger to [FR Doc. 2016–03176 Filed 2–16–16; 8:45 am]
and subject to public disclosure. Do not
alert the driver and passers-by. BILLING CODE 4910–59–P
include any information in your
(e) AML also stated that many of the comment or supporting materials that
subject vehicles have motion sensors you consider confidential or
that would detect the presence of DEPARTMENT OF THE TREASURY inappropriate for public disclosure.
someone in the vehicle as soon as that
Office of the Comptroller of the FOR FURTHER INFORMATION CONTACT:
person moved, and an alarm would
sound, which is audible outside the Currency Shaquita Merritt, Clearance Officer,
vehicle. Thus, deterring inadvertent (202) 649–5490 or, for persons who are
lock-ins of both adults and children and Agency Information Collection deaf or hard of hearing, TTY, (202) 649–
would alert passers-by of any passengers Activities: Information Collection 5597, Legislative and Regulatory
locked in the subject vehicles. Renewal; Comment Request; Activities Division, Office of the
(f) AML stated its belief that if an Leveraged Lending Comptroller of the Currency, 400 7th
adult were locked in a vehicle, he or she Street SW., Washington, DC 20219.
AGENCY: Office of the Comptroller of the
could alert passers-by and would SUPPLEMENTARY INFORMATION: Under the
Currency (OCC), Treasury.
probably be able to contact the driver PRA (44 U.S.C. 3501–3520), Federal
ACTION: Notice and request for comment.
via mobile communication devices that, agencies must obtain approval from
in fact, are ubiquitous today and SUMMARY: The OCC, as part of its OMB for each collection of information
certainly are very likely to be in the continuing effort to reduce paperwork they conduct or sponsor. ‘‘Collection of
possession of the average AML vehicle and respondent burden, invites the information’’ is defined in 44 U.S.C.
passenger. general public and other Federal 3502(3) and 5 CFR 1320.3(c) to include
AML also stated that they have not agencies to take this opportunity to Agency requests or requirements that
received any complaints regarding the comment on a continuing information members of the public submit reports,
subject noncompliance. collection, as required by the Paperwork keep records, or provide information to
AML additionally informed NHTSA Reduction Act of 1995 (PRA) (44 U.S.C. a third party. Section 3506(c)(2)(A) of
that they have corrected the chapter 35). the PRA (44 U.S.C. 3506(c)(2)(A))
noncompliance in vehicles In accordance with the requirements requires Federal agencies to provide a
manufactured from production date of the PRA, the OCC may not conduct 60-day notice in the Federal Register
December 9, 2015 and will correct the or sponsor, and the respondent is not concerning each proposed collection of
asabaliauskas on DSK5VPTVN1PROD with NOTICES
noncompliance in any unsold required to respond to, an information information, including each proposed
noncompliant vehicles prior to sale. collection unless it displays a currently extension of an existing collection of
In summation, AML believes that the valid Office of Management and Budget information, before submitting the
described noncompliances are (OMB) control number. collection to OMB for approval. To
inconsequential to motor vehicle safety, The OCC is soliciting comment comply with this requirement, the OCC
and that its petition, to exempt AML concerning the renewal of its is publishing notice of the proposed
from providing notification of the information collection titled, collection of information set forth in
noncompliances as required by 49 ‘‘Leveraged Lending.’’ this document.
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![Federal Register / Vol. 81, No. 31 / Wednesday, February 17, 2016 / Notices 8127
The OCC is proposing to extend OMB (a) Whether the information Electronic and Facsimile Availability
approval of the following information collections are necessary for the proper
collection: performance of the OCC’s functions, The SDN List and additional
Title: Leveraged Lending. including whether the information has information concerning OFAC sanctions
OMB Control No.: 1557–0315. practical utility; programs are available from OFAC’s
Web site (www.treas.gov/ofac). Certain
Description: On March 22, 2013, the (b) The accuracy of the OCC’s
general information pertaining to
agencies 1 issued guidance stating that estimates of the burden of the
OFAC’s sanctions programs is also
they expected financial institutions 2 to information collections, including the
available via facsimile through a 24-
properly evaluate and monitor validity of the methodology and
hour fax-on-demand service, tel.: 202/
underwritten credit risks in leveraged assumptions used;
622–0077.
loans, to understand the effect of (c) Ways to enhance the quality,
changes in borrowers’ enterprise values utility, and clarity of the information to Notice of OFAC Actions
on credit portfolio quality, and to assess be collected;
the sensitivity of future credit losses to On February 11, 2016, OFAC blocked
(d) Ways to minimize the burden of the property and interests in property of
these changes in enterprise values.3 In information collections on respondents,
underwriting such credits, financial the following 3 individuals pursuant to
including through the use of automated E.O. 13224, ‘‘Blocking Property and
institutions should ensure that collection techniques or other forms of
borrowers are able to repay credits when Prohibiting Transactions With Persons
information technology; and Who Commit, Threaten To Commit, or
due and that borrowers have sustainable (e) Estimates of capital or startup costs
capital structures, including bank Support Terrorism’’:
and costs of operation, maintenance,
borrowings and other debt, to support and purchase of services to provide Individuals
their continued operations through information. 1. JUAYTHINI, Husayn (a.k.a. ALJEITHNI,
economic cycles. Financial institutions
Dated: February 11, 2016. Hussein Mohammed Hussein; a.k.a. AL–
also should be able to demonstrate they JU’AITNI, Abu Mu’ath; a.k.a. AL–
understand the risks and the potential Mary Hoyle Gottlieb,
JU’AYTHINI, Husayn Muhamad Husayn;
impact of stressful events and Regulatory Specialist, Office of the a.k.a. AL–JU’AYTHINI, Husayn Muhammad;
circumstances on borrowers’ financial Comptroller of the Currency. a.k.a. AL–JU’AYTHINI, Husayn Muhammad
condition. [FR Doc. 2016–03201 Filed 2–16–16; 8:45 am] Husayn; a.k.a. JU’AYTHINI, Husayn
The final guidance stated that BILLING CODE 4810–33–P Muhammad Husayn); DOB 03 May 1977;
financial institutions should have: (i) POB Al-Nusayirat refugee camp, Gaza;
underwriting policies for leveraged Passport 0363464 (individual) [SDGT]
lending, including stress-testing DEPARTMENT OF THE TREASURY (Linked To: ISLAMIC STATE OF IRAQ AND
THE LEVANT).
procedures for leveraged credits; (ii) risk
Office of Foreign Assets Control 2. AL–BINALI, Turki Mubarak Abdullah
management policies, including stress- Ahmad (a.k.a. AL BINALI, Turki Mubarak
testing procedures for pipeline Sanctions Actions Pursuant to Abdullah; a.k.a. AL–BENALI, Turki; a.k.a.
exposures; and, (iii) policies and Executive Order 13224 AL–BIN’ALI, Turki; a.k.a. AL–BIN’ALI, Turki
procedures for incorporating the results Mubarak; a.k.a. ‘‘ABU DERGHAM’’; a.k.a.
of leveraged credit and pipeline stress AGENCY: Office of Foreign Assets ‘‘AL–ATHARI, Abu Human’’; a.k.a. ‘‘AL–
tests into the firm’s overall stress-testing Control, Treasury. ATHARI, Abu Human Bakr ibn ’Abd al-
framework. ’Aziz’’; a.k.a. ‘‘AL–ATHARI, Abu-Bakr’’;
ACTION: Notice. a.k.a. ‘‘AL–BAHRAYNI, Abu Hudhayfa’’;
Respondents are financial institutions
with leveraged lending activities as a.k.a. ‘‘AL–MUDARI, Abu Khuzayma’’; a.k.a.
SUMMARY: The Treasury Department’s ‘‘AL–SALAFI, Abu Hazm’’; a.k.a. ‘‘AL–
defined in the guidance. Office of Foreign Assets Control (OFAC) SULAMI, Abu Sufyan’’); DOB 03 Sep 1984;
Title: Guidance on Leveraged is publishing the names of 3 individuals POB Al Muharraq, Bahrain; nationality
Lending. whose property and interests in Bahrain; Passport 2231616 (Bahrain) issued
OMB Control No.: 1557–0315. property are blocked pursuant to 02 Jan 2013 expires 02 Jan 2023; alt. Passport
Frequency of Response: Annual. Executive Order 13224 of September 23, 1272611 (Bahrain) issued 01 Apr 2003;
Affected Public: Financial institutions 2001, ‘‘Blocking Property and Identification Number 840901356
with leveraged lending. Prohibiting Transactions With Persons (individual) [SDGT] (Linked To: ISLAMIC
Burden Estimates: STATE OF IRAQ AND THE LEVANT).
Who Commit, Threaten To Commit, or
3. AL–ZAHRANI, Faysal Ahmad ’Ali (a.k.a.
Estimated number of respondents: 29. Support Terrorism.’’ AL ZAHRANI, Faysal Ahmad Bin Ali; a.k.a.
Estimated total annual burden: 39,162 DATES: OFAC’s actions described in this ALZAHRANI, Faisal Ahmed Ali; a.k.a. ‘‘AL–
hours to build; 49,462 hours for ongoing notice were effective on February 11, JAZRAWI, Abu-Sara’’; a.k.a. ‘‘AL–SAUDI,
use. 2016. Abu Sarah’’; a.k.a. ‘‘AL–ZAHRANI, Abu-
Total estimated annual burden: Sarah’’; a.k.a. ‘‘ZAHRANI, Abu Sara’’); DOB
88,624 hours. FOR FURTHER INFORMATION CONTACT: 19 Jan 1986; alt. DOB 18 Jan 1986; nationality
Comments submitted in response to Associate Director for Global Targeting, Saudi Arabia; Passport K142736 (Saudi
this notice will be summarized and tel.: 202/622–2420, Assistant Director Arabia) issued 14 Jul 2011; alt. Passport
for Sanctions Compliance & Evaluation, G579315 (Saudi Arabia) (individual) [SDGT]
included in the submission to OMB.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
tel.: 202/622–2490, Assistant Director (Linked To: ISLAMIC STATE OF IRAQ AND
Comments are requested on: THE LEVANT).
for Licensing, tel.: 202/622–2480, Office
1 OCC, Board of Governors of the Federal Reserve of Foreign Assets Control, or Chief Dated: February 11, 2016.
System, and Federal Deposit Insurance Corporation. Counsel (Foreign Assets Control), tel.: John E. Smith,
2 For the OCC, the term ‘‘financial institution’’ or
202/622–2410, Office of the General Acting Director, Office of Foreign Assets
‘‘institution’’ includes national banks, Federal Counsel, Department of the Treasury Control.
savings associations, and Federal branches and
agencies supervised by the OCC.
(not toll free numbers). [FR Doc. 2016–03162 Filed 2–16–16; 8:45 am]
3 78 FR 17766 (March 22, 2013). SUPPLEMENTARY INFORMATION: BILLING CODE 4810–AL–P
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Document Created: 2016-02-17 01:16:43
Document Modified: 2016-02-17 01:16:43
| 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 received by April 18, 2016. | |
| Contact | Shaquita Merritt, 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., Washington, DC 20219. | |
| FR Citation | 81 FR 8126 |
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