83 FR 38206 - Agency Information Collection Requirements; Information Collection Renewal; Submission for OMB Review; Release of Non-Public Information
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 83, Issue 150 (August 3, 2018)
Office of the Comptroller of the Currency
Federal Register Volume 83, Issue 150 (August 3, 2018)
| Page Range | 38206-38208 | |
| FR Document | 2018-16641 |
[Federal Register Volume 83, Number 150 (Friday, August 3, 2018)] [Notices] [Pages 38206-38208] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-16641] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Requirements; Information Collection Renewal; Submission for OMB Review; Release of Non-Public Information 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 [[Page 38207]] 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 the renewal of its information collection titled, ``Release of Non-Public Information.'' The OCC also is giving notice that it has sent the collection to OMB for review. DATES: You should submit written comments by September 4, 2018. ADDRESSES: Commenters are encouraged to submit comments by email, if possible. You may submit comments by any of the following methods:Email: prainfo@occ.treas.gov. Mail: Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Attention: 1557-0200, 400 7th Street SW, Suite 3E-218, Washington, DC 20219. Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, Washington, DC 20219. Fax: (571) 465-4326. Instructions: You must include ``OCC'' as the agency name and ``1557-0200'' in your comment. In general, the OCC will publish your comment on www.reginfo.gov without change, including any business or personal information that you provide, such as name and address information, email addresses, or phone numbers. 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, 1557-0200, U.S. Office of Management and Budget, 725 17th Street, NW, #10235, Washington, DC 20503 or by email to oira_submission@omb.eop.gov. You may review comments and other related materials that pertain to this information collection \1\ following the close of the 30-Day comment period for this notice by any of the following methods: --------------------------------------------------------------------------- \1\ On April 3, 2018, the OCC published a 60-Day notice for this information collection. --------------------------------------------------------------------------- Viewing Comments Electronically: Go to www.reginfo.gov. Click on the ``Information Collection Review'' tab. Underneath the ``Currently under Review'' section heading, from the drop-down menu, select ``Department of Treasury'' and then click ``submit.'' This information collection can be located by searching by OMB control number ``1557-0200'' or ``Release of Non-Public Information.'' Upon finding the appropriate information collection, click on the related ``ICR Reference Number.'' On the next screen, select ``View Supporting Statement and Other Documents'' and then click on the link to any comment listed at the bottom of the screen. For assistance in navigating www.reginfo.gov, please contact the Regulatory Information Service Center at (202) 482-7340. Viewing Comments Personally: You may personally inspect comments at the OCC, 400 7th Street, SW, Washington, DC. 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 hearing impaired, 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 comments. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, for persons who are deaf or hearing impaired, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street, SW, Suite 3E-218, Washington, DC 20219. SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), federal agencies must obtain approval from the Office of Management and Budget (OMB) for each collection of information that 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. The OCC asks OMB to extend its approval of the following information collection. Title: Release of Non-Public Information. OMB Control No.: 1557-0200. Abstract: The information collection requirements require individuals who are requesting non-public OCC information to provide the OCC with information regarding the legal grounds for the request. The release of non-public OCC information to a requester without sufficient legal grounds to obtain the information would inhibit open consultation between a bank and the OCC, thereby impairing the OCC's supervisory and regulatory mission. The OCC is entitled, under statute and case law, to require requesters to demonstrate that they have sufficient legal grounds for the OCC to release non-public OCC information. The OCC needs to identify the requester's legal grounds to determine if it should release the requested non-public OCC information. The information requirements in 12 CFR part 4, subpart C, are as follows: (1) 12 CFR 4.33: Request for non-public OCC records or testimony. (2) 12 CFR 4.35(b)(3): Third parties requesting testimony. (3) 12 CFR 4.37(a)(2): OCC former employee notifying OCC of subpoena. (4) 12 CFR 4.37(a) and (b): Prohibition on dissemination of released information. (5) 12 CFR 4.38(a) and (b): Restrictions on dissemination of released information. (6) 12 CFR 4.39(d): Request for authenticated records or certificate of nonexistence of records. The OCC uses the information to process requests for non-public OCC information and to determine if sufficient grounds exist for the OCC to release the requested information or provide testimony that would include a discussion of non-public information. This information collection facilitates the processing of requests and expedites the OCC's release of non-public information and testimony to the requester, as appropriate. Type of Review: Extension, without change, of a currently approved collection. Affected Public: Businesses or other for-profit; individuals. Number of Respondents: 2. Frequency of Response: On occasion. Total Annual Burden: 6 hours. The OCC issued a notice for 60 days of comment concerning this collection on April 3, 2018, 83 FR 14313. 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 [[Page 38208]] 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 30, 2018. Karen Solomon, Acting Senior Deputy Comptroller and Chief Counsel. [FR Doc. 2018-16641 Filed 8-2-18; 8:45 am] BILLING CODE 4810-33-P
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Estimated Number of Respondents: the estimate be increased to twice the In response to these comments, OCC
200 AMCs; 55 States and Territories. current estimate. The commenter notes notes that the commenter’s suggestions
Total Estimated Annual Burden: 421. that each state differs in complexity of do not relate to the collection. The OCC
The OCC issued a notice for 60 days their demands for the collection of will, however, refer these suggestions to
of comment on March 23, 2018, 83 FR information and not all are on the same the ASC for consideration.
12843. One comment was received from renewal schedule. Some renew annually
a trade association representing Topic E: Estimates of Capital or Start-up
and some biennially, which have
appraisal management companies Costs and Costs of Operation,
varying burdens for preparation and
(AMCs). Maintenance, and Purchase of Services
validation.
The burden estimates for this to Provide Information
Topic A: Whether the Collection of The commenter stated that the
collection have historically been
Information is Necessary for the Proper ‘‘estimated cost to implement the AMC
prepared on an industry-wide basis and
Performance of the Functions of the minimum requirements and AMC
then allotted to each agency. The FDIC
OCC, Including Whether the Registry requirements in 50 states and
prepared the industry-wide estimates
Information has Practical Utility the District of Columbia ranges from
for this renewal. We invite commenters
In response to topic A, the commenter to review the analysis, which is $250,000–$500,000 per AMC,’’ not
stated that the collection of information included in our supporting statement, including ‘‘the additional $100,000–
is ‘‘necessary and does have practical and comment during the 30-day $200,000 paid by AMCs to the ASC to
utility’’ but ‘‘only to the extent that the comment period. be on the National AMC Registry.’’
information collected serves the proper In response to the comment, the OCC
purpose to promote appraiser Topic C: Ways to Enhance the Quality, notes that the commenter has not
independence while ensuring a healthy Utility, and Clarity of the Information to segregated the costs relating to the
real estate valuation market.’’ While not be Collected collection from costs of complying with
stated expressly, the commenter implies In response to topic C, the commenter the substantive requirements of Title XI
that the ‘‘proper purpose’’ of the suggested that the ASC should issue and the AMC rule.
collection is limited to collections additional guidance to states and AMCs Comments continue to be invited on:
relating appraiser independence. concerning the AMC minimum (a) Whether the collection of
In response to this comment, the OCC requirements. The goal of such guidance information is necessary for the proper
notes that the purpose of the AMC rule would be to ‘‘provide consistency in the performance of the functions of the
and the collection is to implement all implementation of the regulations and OCC, including whether the information
required elements of the statute, not information required.’’ The commenter has practical utility;
only provisions that extend to appraiser also expressed concern that wide (b) The accuracy of the OCC’s
independence. See 12 U.S.C. 3353(a) variation of AMC requirements from estimate of the information collection
(setting minimum requirements for state to state may have material burden;
registration regulation in participating unintended consequences on lending (c) Ways to enhance the quality,
states); id. section 3353(d) (setting activity in a particular jurisdiction. utility, and clarity of the information to
registration limitations for AMCs); and In response to these comments, OCC be collected;
notes that the commenter’s suggestions (d) Ways to minimize the burden of
id. section 3353(e) (requiring reporting
do not relate to the collection. In the collection on respondents, including
of information by AMCs to the ASC).
addition, while Title XI and the AMC through the use of automated collection
The OCC and the other agencies that
rule set minimum standards for the techniques or other forms of information
were party to the AMC rule were
registration and supervision of AMCs by technology; and
required to adopt regulations to
states, Title XI and the AMC rule (e) Estimates of capital or start-up
implement the statutory requirements
expressly provide that a state may adopt costs and costs of operation,
and the collection is a necessary
requirements in addition to those maintenance, and purchase of services
component for implementation of these
contained in the AMC regulation. 12 to provide information.
requirements.
To the extent that the commenter U.S.C. 3353(b); 12 CFR 34.210(d). The Dated: July 30, 2018.
disagrees with the scope and OCC will, however, refer these Karen Solomon,
requirements of Title XI and the AMC suggestions to the ASC for Acting Senior Deputy Comptroller and Chief
rule, the OCC also notes that regulations consideration. Counsel.
may not be rescinded by the OCC Topic D: Ways to Minimize the Burden [FR Doc. 2018–16639 Filed 8–2–18; 8:45 am]
through the PRA renewal process. of the Collection on Respondents, BILLING CODE 4810–33–P
Topic B: The Accuracy of the OCC’s Including Through the use of
Estimate of the Information Collection Automated Collection Techniques or
DEPARTMENT OF THE TREASURY
Burden Other Forms of Information Technology
In response to topic B, the commenter In response to topic D, the commenter Office of the Comptroller of the
states that the burden estimates are too recommends that the ASC ‘‘find Currency
low. The commenter believes that the opportunities to develop reporting
number of respondents is approximately efficiencies in the licensing system, Agency Information Collection
twice what was estimated. The which could include partnering with Requirements; Information Collection
commenter also states that the actual the Nationwide Multistate Licensing Renewal; Submission for OMB Review;
amozie on DSK3GDR082PROD with NOTICES1
number of AMCs will not be known System (NMLS) or investing in a new Release of Non-Public Information
until 2020 when the AMC National process. Furthermore, the ASC should AGENCY: Office of the Comptroller of the
Registry is fully operational. be more aggressive in supporting Currency (OCC), Treasury.
The commenter indicates that its modernization of the outdated National ACTION: Notice and request for comment.
members believe that the estimate of the Appraiser Registry (which AMCs must
annual burden to comply is also too use to comply with the minimum SUMMARY: The OCC, as part of its
low. The commenter recommends that requirements).’’ continuing effort to reduce paperwork
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through the use of automated collection changes in the previous instructions. added to clarify reporting
techniques or other forms of information Requests for additional information responsibilities; in particular that
technology; and should be directed to Mr. Wolkow. reporting (as end-investor) is the
(e) Estimates of capital or start-up SUPPLEMENTARY INFORMATION: responsibility of the manager of a fund,
costs and costs of operation, Title: Treasury International Capital partnership, trust, etc., if they have
maintenance, and purchase of services (TIC) Form SHC/SHCA ‘‘U.S. discretion over investments of the fund/
to provide information. Ownership of Foreign Securities, partnership/trust/etc.;
Dated: July 30, 2018. including Selected Money Market (2) In section II.A.(2) ‘‘Who Must
Instruments.’’ Report/End-Investors’’, the terms
Karen Solomon,
OMB Control Number: 1505–0146. ‘‘limited partnerships and trusts’’ are
Acting Senior Deputy Comptroller and Chief Abstract: Form SHC/SHCA is part of added in the third bullet in the list;
Counsel.
the Treasury International Capital (TIC) (3) Section III.B/’’direct investments’’
[FR Doc. 2018–16641 Filed 8–2–18; 8:45 am] reporting system, which is required by is revised to make the section more
BILLING CODE 4810–33–P law (22 U.S.C. 3101 et seq.; E.O. 11961; uniform across all TIC reports;
31 CFR 129) and is used to conduct (4) Section III.C.4/’’pension &
annual surveys of U.S. residents’ retirement funds’’ is revised to cover
DEPARTMENT OF THE TREASURY ownership of foreign securities for reporting responsibilities and foreign-
portfolio investment purposes. These resident pension funds;
Proposed Collection; Comment
data are used by the U.S. Government in (5) In Appendix G, the link is
Request
the formulation of international corrected to point to the March 2018
Notice and request for
ACTION: financial and monetary policies, and for version of the TIC Glossary.
comments. the computation of the U.S. balance of (6) Some changes in text, page
payments accounts and of the U.S. numbers and formatting are made to
SUMMARY: The Department of the international investment position. These clarify other parts of the instructions.
Treasury, as part of its continuing effort data are also used to provide The changes will improve overall
to reduce paperwork burdens, invites information to the public and to meet survey reporting.
the general public and other Federal international reporting commitments. Type of Review: Revision of currently
agencies to comment on revisions in The SHC/SHCA survey is part of an approved data collection.
2018 of a currently approved internationally coordinated effort under Affected Public: Business/Financial
information collection that is proposed the auspices of the International Institutions.
for approval by the Office of Monetary Fund to improve data on Form: TIC SHC/SHCA, Schedules 1, 2
Management and Budget. The Office of securities worldwide. Most of the major and 3 (1505–0146).
International Affairs within the industrial and financial countries Estimated Number of Respondents:
Department of the Treasury is soliciting conduct similar surveys. An annual average (over five years) of
comments concerning the revision of The data collection includes large 306, but this varies widely from about
the Annual Report of U.S. Ownership of benchmark surveys conducted every 785 in benchmark years (once every five
Foreign Securities, including Selected five years, and smaller annual surveys years) to about 190 in other years (four
Money Market Instruments. The next conducted in the non-benchmark years. out of every five years).
The data collected under an annual Estimated Average Time per
such collection is an annual survey to
survey are used in conjunction with the Respondent: An annual average (over
be conducted as of December 31, 2018.
results of the preceding benchmark five years) of about 174 hours, but this
DATES: Written comments should be will vary widely from respondent to
received on or before October 2, 2018 to survey and of recent SLT reports to
make economy-wide estimates for that respondent. (a) In the year of a
be assured of consideration. benchmark survey, which is conducted
non-benchmark year. Currently, the
ADDRESSES: Direct all written comments once every five years, it is estimated that
determination of who must report in the
to Dwight Wolkow, International annual surveys is based primarily on the exempt respondents will require an
Portfolio Investment Data Systems, data submitted during the preceding average of 17 hours; custodians of
Department of the Treasury, Room 5422 benchmark survey and on data securities providing security-by-security
MT, 1500 Pennsylvania Avenue NW, submitted on SLT reports around June information will require an average of
Washington DC 20220. In view of of the survey year. The data requested 361 hours, but this figure will vary
possible delays in mail delivery, you in the annual survey will generally be widely for individual custodians; end-
may also wish to send a copy to Mr. the same as requested in the preceding investors providing security-by-security
Wolkow by email (comments2TIC@ benchmark report. Form SHC is used for information will require an average of
do.treas.gov) or FAX (202–622–2009). the benchmark survey of all significant 121 hours; and end-investors and
Mr. Wolkow can also be reached by U.S.-resident custodians and end- custodians employing U.S. custodians
telephone (202–622–1276). investors regarding U.S. ownership of will require an average of 41 hours. (b)
FOR FURTHER INFORMATION CONTACT: foreign securities. In non-benchmark In a non-benchmark year, which occurs
Copies of the proposed form and years Form SHCA is used for the annual four years out of every five years:
instructions are available at Part II of the surveys of primarily the very largest Custodians of securities providing
Treasury International Capital (TIC) U.S.-resident custodians and end- security-by-security information will
Forms web page ‘‘Forms SHL/SHLA & investors. require an average of 546 hours (because
SHC/SHCA’’, at: https:// Current Actions: only the largest U.S.-resident custodians
amozie on DSK3GDR082PROD with NOTICES1
www.treasury.gov/resource-center/data- No changes in the forms (schedules) will report), but this figure will vary
chart-center/tic/Pages/forms- are made from the previous survey that widely for individual custodians; end-
sh.aspx#shc. The proposed forms was conducted as of December 31, 2017. investors providing security-by-security
(called schedules) are unchanged from The proposed changes in the information will require an average of
the previous survey that was conducted instructions are: 146 hours; and reporters entrusting their
as of December 31, 2017 (SHCA(2017)). (1) In section II.A.(2) ‘‘Who Must foreign securities to U.S. custodians will
The ‘‘Current Actions’’ below are Report/End-Investors’’, new text is require an average of 49 hours. The
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Document Created: 2018-11-06 10:34:55
Document Modified: 2018-11-06 10:34:55
| 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 | You should submit written comments by September 4, 2018. | |
| Contact | Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, for persons who are deaf or hearing impaired, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street, SW, Suite 3E-218, Washington, DC 20219. | |
| FR Citation | 83 FR 38206 |
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