82_FR_14158 82 FR 14108 - Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Financial Management Policies-Interest Rate Risk

82 FR 14108 - Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Financial Management Policies-Interest Rate Risk

DEPARTMENT OF THE TREASURY
Comptroller of the Currency

Federal Register Volume 82, Issue 50 (March 16, 2017)

Page Range14108-14109
FR Document2017-05266

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, ``Financial Management Policies--Interest Rate Risk.'' The OCC also is giving notice that it has sent the collection to OMB for review.

Federal Register, Volume 82 Issue 50 (Thursday, March 16, 2017) 
[Federal Register Volume 82, Number 50 (Thursday, March 16, 2017)]
[Notices]
[Pages 14108-14109]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-05266]


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DEPARTMENT OF THE TREASURY

Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Submission for OMB Review; Financial Management Policies--
Interest Rate Risk

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, ``Financial Management Policies--Interest Rate 
Risk.'' The OCC also is giving notice that it has sent the collection 
to OMB for review.

DATES: Comments must be submitted on or before April 17, 2017.

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: 1557-0299, 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, 1557-0299, 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., 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 that they conduct or sponsor. The term ``collection of 
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) and 
includes agency requests or requirements that members of the public 
submit reports, keep records, or provide information to a third party. 
The OCC requests that OMB extend approval of the following information 
collection.
    Title: Financial Management Policies--Interest Rate Risk.
    OMB Control No.: 1557-0299.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit.
    Frequency of Response: On occasion.
    Burden Estimate:
    Estimated Number of Respondents: 372.
    Estimated Annual Burden: 14,880.
    Description: This information collection covers the recordkeeping 
burden for maintaining data in accordance with OCC's regulation on 
interest rate risk procedures for Federal savings associations, 12 CFR 
163.176. The purpose of the regulation is to ensure that Federal 
savings associations are managing their exposure to interest rate risk 
appropriately. To comply with this reporting requirement, institutions 
need to maintain sufficient records to document how their interest rate 
risk exposure is monitored and managed internally.
    Comments: The OCC issued a notice for 60 days of comment on 
December 27, 2016, 81 FR 95302. The OCC received one comment from an 
individual. The commenter stated that the OCC should rescind 12 CFR 
163.176 or, if the OCC determines that it is important and should not 
be removed, it should be amended to also apply to national banks. The 
commenter stated that, while interest rate risk exposure at one time 
was different for savings associations and commercial banks, today 
there is no difference and the two charter types should be subject to 
similar regulation. The commenter also stated that the regulation is 
outdated and unnecessary and should be rescinded, citing several OCC 
bulletins that the commenter claims state expectations for interest 
rate risk

[[Page 14109]]

management at federal savings associations and national banks. The 
commenter also stated that 12 CFR part 30, appendix A, also requires 
federal savings associations to manage interest rate risk and requires 
periodic reporting to the board of directors, making 12 CFR 163.176 
redundant and unnecessary. The commenter concluded by suggesting that 
the OCC should discuss 12 CFR 563.176, a provision the commenter 
asserts is duplicative of 12 CFR 163.176, in it its final rulemaking.
    The OCC, pursuant to section 2222 of the Economic Growth and 
Regulatory Paperwork Reduction Act of 1996,\1\ published several 
notices (EGRPRA) to identify outdated or otherwise unnecessary 
regulatory requirements imposed on insured depository institutions, one 
of which included 12 CFR 163.176.\2\ No comments were received 
regarding this regulation during that process and, as a result, no 
changes were made in the final rule.\3\ In addition, the change 
requested by the commenter cannot be made in this PRA notice as it 
would require a rulemaking. The OCC bulletins cited by the commenter as 
duplicative only provide non-binding guidance, which is legally 
distinct from binding requirements set forth in a rule. Lastly, 12 CFR 
563.176 was adopted by the former Office of Thrift Supervision (OTS). 
The OCC adopted the language of that rule as 12 CFR 163.176.\4\ While 
the OCC agrees that 12 CFR 563.176 is unnecessary, authority to revise 
or remove that rule reverted from the OTS to the Department of Treasury 
Departmental Offices, not to the OCC because one bureau may not amend 
the regulations of another bureau.\5\ The OCC communicated the 
commenter's concern regarding 12 CFR 563.176 to the Department of the 
Treasury Departmental Offices.
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    \1\ Public Law 104-208 (1996), codified at 12 U.S.C. 3311(b).
    \2\ 80 FR 79729, at 79729 (December 23, 2015).
    \3\ 82 FR 8082 (January 23, 2017).
    \4\ 75 FR 48949, at 49058 (August 9, 2011).
    \5\ The Federal Register Act (44 U.S.C. 1510) gives the Director 
of the Office of the Federal Register (Director) the authority to 
create and the responsibility to maintain the CFR. The Office of the 
Federal Register's regulations at 1 CFR 8.1 and 8.2 give the 
Director the authority to make CFR assignments within each title and 
the responsibility for orderly codification and 1 CFR 2.4 gives the 
Director the authority to administer the regulations of the 
Administrative Committee of the Federal Register (1 CFR chapter I). 
Based on this, the Director has always interpreted the regulations 
to require that only the agency assigned to the chapter or, in the 
case of a Department component, the Department itself, can amend 
regulations in that chapter.
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    Comments continue to be invited on:
    (a) Whether the collections of information 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 start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: March 9, 2017.
Karen Solomon,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2017-05266 Filed 3-15-17; 8:45 am]
 BILLING CODE 4810-33-P

14108 Federal Register / Vol. 82, No. 50 / Thursday, March 16, 2017 / Notices probability of failure to a level ACTION: Notice and request for comment. FOR FURTHER INFORMATION CONTACT: significantly greater than the effects of Shaquita Merritt, OCC Clearance the individual threats acting alone. In SUMMARY: The OCC, as part of its Officer, (202) 649–5490 or, for persons order to manage cyclic fatigue, continuing effort to reduce paperwork who are deaf or hard of hearing, TTY, therefore, operators must have system- and respondent burden, invites the (202) 649–5597, Legislative and specific data applicable to their unique general public and other Federal Regulatory Activities Division, Office of operating environment to justify the agencies to take this opportunity to the Comptroller of the Currency, 400 7th inactive status of the cyclic fatigue comment on a continuing information Street SW., Washington, DC 20219. threat. A system-wide or generic study collection as required by the Paperwork SUPPLEMENTARY INFORMATION: Under the of cyclic fatigue may be used by an Reduction Act of 1995 (PRA). PRA (44 U.S.C. 3501–3520), Federal operator as long as the operator In accordance with the requirements agencies must obtain approval from documents why the study is applicable of the PRA, the OCC may not conduct OMB for each collection of information to the segment-specific conditions. or sponsor, and the respondent is not that they conduct or sponsor. The term required to respond to, an information II. Advisory Bulletin (ADB–2017–01) ‘‘collection of information’’ is defined in collection unless it displays a currently 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) To: Owners and Operators of Natural valid Office of Management and Budget and includes agency requests or Gas Transmission Pipelines (OMB) control number. requirements that members of the public Subject: Deactivation of Threats The OCC is soliciting comment submit reports, keep records, or provide Advisory: The threats identified in concerning renewal of its information information to a third party. The OCC ASME B31.8S–2004 may be considered collection titled, ‘‘Financial requests that OMB extend approval of active or inactive, but are never Management Policies—Interest Rate the following information collection. permanently eliminated. ASME B31.8S– Risk.’’ The OCC also is giving notice Title: Financial Management 2004, Appendix A, identifies the that it has sent the collection to OMB for Policies—Interest Rate Risk. information an operator must collect review. OMB Control No.: 1557–0299. and analyze for threats, which must DATES: Comments must be submitted on Type of Review: Regular. demonstrate an individual threat is not or before April 17, 2017. Affected Public: Businesses or other acting on the pipe before an operator ADDRESSES: Because paper mail in the for-profit. can properly declare the threat inactive Washington, DC area and at the OCC is Frequency of Response: On occasion. for each assessment period. A threat subject to delay, commenters are Burden Estimate: must be considered active if any data encouraged to submit comments by Estimated Number of Respondents: required by Appendix A is missing, as email, if possible. Comments may be 372. lack of data indicating the existence of sent to: Legislative and Regulatory Estimated Annual Burden: 14,880. a threat is not acceptable justification Activities Division, Office of the Description: This information for considering the threat inactive. Comptroller of the Currency, Attention: collection covers the recordkeeping Documents to support the determination 1557–0299, 400 7th Street SW., Suite burden for maintaining data in of an inactive threat status must be 3E–218, Mail Stop 9W–11, Washington, accordance with OCC’s regulation on maintained, as per the requirements of DC 20219. In addition, comments may interest rate risk procedures for Federal § 192.947(d). An operator does not need be sent by fax to (571) 465–4326 or by savings associations, 12 CFR 163.176. to assess a threat for the current electronic mail to prainfo@occ.treas.gov. The purpose of the regulation is to assessment cycle if that threat is You may personally inspect and ensure that Federal savings associations properly deemed inactive. When photocopy comments at the OCC, 400 are managing their exposure to interest conditions warrant a review or new 7th Street SW., Washington, DC 20219. rate risk appropriately. To comply with information becomes available during For security reasons, the OCC requires this reporting requirement, institutions the required § 192.937 evaluation that visitors make an appointment to need to maintain sufficient records to operators are required to examine each inspect comments. You may do so by document how their interest rate risk applicable threat to determine its active calling (202) 649–6700 or, for persons exposure is monitored and managed or inactive status. who are deaf or hard of hearing, TTY, internally. Issued in Washington, DC, on March 9, (202) 649–5597. Upon arrival, visitors Comments: The OCC issued a notice 2017, under authority delegated in 49 CFR will be required to present valid for 60 days of comment on December 1.97. government-issued photo identification 27, 2016, 81 FR 95302. The OCC Alan K. Mayberry, and submit to security screening in received one comment from an Associate Administrator for Pipeline Safety. order to inspect and photocopy individual. The commenter stated that [FR Doc. 2017–05262 Filed 3–15–17; 8:45 am] comments. the OCC should rescind 12 CFR 163.176 BILLING CODE 4910–60–P All comments received, including or, if the OCC determines that it is attachments and other supporting important and should not be removed, materials, are part of the public record it should be amended to also apply to and subject to public disclosure. Do not national banks. The commenter stated DEPARTMENT OF THE TREASURY include any information in your that, while interest rate risk exposure at comment or supporting materials that one time was different for savings Comptroller of the Currency you consider confidential or associations and commercial banks, inappropriate for public disclosure. today there is no difference and the two mstockstill on DSK3G9T082PROD with NOTICES Agency Information Collection Activities: Information Collection Additionally, please send a copy of charter types should be subject to Renewal; Submission for OMB Review; your comments by mail to: OCC Desk similar regulation. The commenter also Financial Management Policies— Officer, 1557–0299, U.S. Office of stated that the regulation is outdated Interest Rate Risk Management and Budget, 725 17th and unnecessary and should be Street NW., #10235, Washington, DC rescinded, citing several OCC bulletins AGENCY: Office of the Comptroller of the 20503 or by email to oira submission@ that the commenter claims state Currency (OCC), Treasury. omb.eop.gov. expectations for interest rate risk VerDate Sep<11>2014 17:12 Mar 15, 2017 Jkt 241001 PO 00000 Frm 00136 Fmt 4703 Sfmt 4703 E:\FR\FM\16MRN1.SGM 16MRN1

Federal Register / Vol. 82, No. 50 / Thursday, March 16, 2017 / Notices 14109 management at federal savings The OCC bulletins cited by the Department of the Treasury associations and national banks. The commenter as duplicative only provide Departmental Offices. commenter also stated that 12 CFR part non-binding guidance, which is legally Comments continue to be invited on: 30, appendix A, also requires federal distinct from binding requirements set (a) Whether the collections of savings associations to manage interest forth in a rule. Lastly, 12 CFR 563.176 information are necessary for the proper rate risk and requires periodic reporting was adopted by the former Office of performance of the OCC’s functions, to the board of directors, making 12 CFR Thrift Supervision (OTS). The OCC including whether the information has 163.176 redundant and unnecessary. adopted the language of that rule as 12 practical utility; The commenter concluded by CFR 163.176.4 While the OCC agrees (b) The accuracy of the OCC’s suggesting that the OCC should discuss that 12 CFR 563.176 is unnecessary, estimates of the burden of the 12 CFR 563.176, a provision the authority to revise or remove that rule information collections, including the commenter asserts is duplicative of 12 reverted from the OTS to the validity of the methodology and CFR 163.176, in it its final rulemaking. Department of Treasury Departmental The OCC, pursuant to section 2222 of assumptions used; Offices, not to the OCC because one the Economic Growth and Regulatory bureau may not amend the regulations (c) Ways to enhance the quality, Paperwork Reduction Act of 1996,1 of another bureau.5 The OCC utility, and clarity of the information to published several notices (EGRPRA) to communicated the commenter’s concern be collected; identify outdated or otherwise regarding 12 CFR 563.176 to the (d) Ways to minimize the burden of unnecessary regulatory requirements information collections on respondents, imposed on insured depository 4 75 FR 48949, at 49058 (August 9, 2011). including through the use of automated institutions, one of which included 12 5 The Federal Register Act (44 U.S.C. 1510) gives collection techniques or other forms of the Director of the Office of the Federal Register information technology; and CFR 163.176.2 No comments were (Director) the authority to create and the received regarding this regulation responsibility to maintain the CFR. The Office of (e) Estimates of capital or start-up during that process and, as a result, no the Federal Register’s regulations at 1 CFR 8.1 and costs and costs of operation, changes were made in the final rule.3 In 8.2 give the Director the authority to make CFR maintenance, and purchase of services assignments within each title and the responsibility addition, the change requested by the for orderly codification and 1 CFR 2.4 gives the to provide information. commenter cannot be made in this PRA Director the authority to administer the regulations Dated: March 9, 2017. notice as it would require a rulemaking. of the Administrative Committee of the Federal Karen Solomon, Register (1 CFR chapter I). Based on this, the 1 Public Law 104–208 (1996), codified at 12 Director has always interpreted the regulations to Deputy Chief Counsel, Office of the require that only the agency assigned to the chapter Comptroller of the Currency. U.S.C. 3311(b). or, in the case of a Department component, the 2 80 FR 79729, at 79729 (December 23, 2015). Department itself, can amend regulations in that [FR Doc. 2017–05266 Filed 3–15–17; 8:45 am] 3 82 FR 8082 (January 23, 2017). chapter. BILLING CODE 4810–33–P mstockstill on DSK3G9T082PROD with NOTICES VerDate Sep<11>2014 17:12 Mar 15, 2017 Jkt 241001 PO 00000 Frm 00137 Fmt 4703 Sfmt 9990 E:\FR\FM\16MRN1.SGM 16MRN1


Document Created: 2017-03-16 02:18:58
Document Modified: 2017-03-16 02:18:58
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 April 17, 2017.
ContactShaquita 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., Washington, DC 20219.
FR Citation82 FR 14108 
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