[Federal Register Volume 86, Number 7 (Tuesday, January 12, 2021)]
[Notices]
[Pages 2491-2492]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-00434]


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DEPARTMENT OF THE TREASURY

Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Investment Securities

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 respondents are 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, 
``Investment Securities.''

DATES:  You should submit written comments by March 15, 2021.

ADDRESSES:  Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
    <bullet> Email: <a href="/cdn-cgi/l/email-protection#d4a4a6b5bdbab2bb94bbb7b7faa0a6b1b5a7fab3bba2"><span class="__cf_email__" data-cfemail="98e8eaf9f1f6fef7d8f7fbfbb6eceafdf9ebb6fff7ee">[email protected]</span></a>.
    <bullet> Mail: Chief Counsel's Office, Attention: Comment 
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0205, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
    <bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
    <bullet> Fax: (571) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0205'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, 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.
    You may review comments and other related materials that pertain to 
this information collection beginning on the date of publication of the 
second notice for this collection \1\ by the following method:
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    \1\ Following the close of this notice's 60-day comment period, 
the OCC will publish a second notice with a 30-day comment period.
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    <bullet> 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 ``1557-0205'' or ``Investment Securities.'' 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.
    <bullet> For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490, Chief Counsel's Office, 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 the 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. Section 
3506(c)(2)(A) of title 44 requires Federal agencies to provide a 60-day 
notice in the Federal Register concerning each proposed collection of 
information, including each renewal 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 
renewal of the collection of information set forth in this document.
    Title: Investment Securities.
    OMB Control No.: 1557-0205.
    Description: 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

[[Page 2492]]

Company Act of 1940 \2\ 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 ensuring 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 for securities held in 
satisfaction of debts previously contracted for up to an additional 
five years. In its request, the bank must provide a clearly convincing 
demonstration of why the 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. 
The OCC also uses the information to evaluate the risks to the bank in 
extending the holding period, including potential effects on the bank's 
safety and soundness.
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    \2\ 15 U.S.C. 80a-3(c)(1).
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    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 25.
    Estimated Total Annual Burden: 460 hours.
    Frequency of Response: On occasion. Comments submitted in response 
to this notice will be summarized and included in the request for OMB 
approval. All comments will become a matter of public record. Comments 
are 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.

Bao Nguyen,
Principal Deputy Chief Counsel, Office of the Comptroller of the 
Currency.
[FR Doc. 2021-00434 Filed 1-11-21; 8:45 am]
BILLING CODE 4810-33-P


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