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[Federal Register Volume 77, Number 82 (Friday, April 27, 2012)]
[Notices]
[Pages 25232-25233]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-10142]

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DEPARTMENT OF THE TREASURY

Comptroller of the Currency

Agency Information Collection Activities: Proposed Information 
Collection; Submission for OMB Review

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. An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless it displays a 
currently valid OMB control number. The OCC is soliciting comment 
concerning its information collection titled, ``Investment 
Securities.'' The OCC is also giving notice that the collection has 
been submitted to OMB for review.

DATES: You should submit written comments by May 29, 2012.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Mailstop 2-3, Attention: 1557-0205, 250 E Street SW., 
Washington, DC 20219. In addition, comments may be sent by fax to (202) 
874-5274, or by electronic mail to [email protected]. You may 
personally inspect and photocopy comments at the OCC, 250 E 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) 874-4700. 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.
    Additionally, you should send a copy of your comments to OCC Desk 
Officer, 1557-0205, by mail to U.S. Office of Management and Budget, 
725, 17th Street NW., 10235, Washington, DC 20503, or by fax 
to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Mary H. Gottlieb, OCC Clearance 
Officer, (202) 874-6055 or (202) 874-5090, Legislative and Regulatory 
Activities Division, Office of the Comptroller of the Currency, 250 E 
Street SW., Washington, DC 20219.

[[Page 25233]]

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:
    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 
determining that the bank's investment is consistent with its 
investment authority under applicable law and does not pose 
unacceptable risk.
    Under 12 CFR 1.7(b), a national bank may request OCC approval to 
extend the five-year holding period of 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, and to 
evaluate the risks to the bank of extending the holding period, 
including potential effects on bank 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 Responses: 25.
    Estimated Total Annual Burden: 460 hours.
    Frequency of Response: On occasion.
    The OCC issued a 60-Day Federal Register Notice on February 6, 2012 
(77 FR 5877). 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.
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    \1\ 15 U.S.C. 80a-3(c)(1).

    Dated: April 19, 2012.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2012-10142 Filed 4-26-12; 8:45 am]
BILLING CODE 4810-33-P
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