[Federal Register Volume 65, Number 129 (Wednesday, July 5, 2000)]
[Notices]
[Page 41522]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-16893]



[[Page 41522]]

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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Submission for OMB review; comment request.

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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. The OCC may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection that has been 
extended, revised, or implemented unless it displays a currently valid 
Office of Management and Budget (OMB) control number. Currently, the 
OCC is soliciting comments concerning an extension, without change, of 
an information collection titled Investment Securities--12 CFR 1. The 
OCC also gives notice that it has sent the information collection to 
OMB for review.

DATES: You should submit your written comments to both OCC and the OMB 
Reviewer by August 4, 2000.

ADDRESSES: You should send your written comments to the Communications 
Division, Attention: 1557-0205, Third Floor, Office of the Comptroller 
of the Currency, 250 E Street, SW., Washington, DC 20219. In addition, 
you can send comments by facsimile transmission to (202) 874-5274, or 
by electronic mail to <a href="/cdn-cgi/l/email-protection#70021517035e131f1d1d151e0403301f13135e04021511035e171f06"><span class="__cf_email__" data-cfemail="e89a8d8f9bc68b8785858d869c9ba8878b8bc69c9a8d899bc68f879e">[email protected]</span></a>.

FOR FURTHER INFORMATION CONTACT: You may request additional 
information, a copy of the collection, or a copy of the supporting 
documentation submitted to OMB by contacting Jessie Dunaway or Camille 
Dixon, (202) 874-5090, Legislative and Regulatory Activities Division 
(1557-0200), Office of the Comptroller of the Currency, 250 E Street, 
SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval 
of the following information collection:
    Title: Investment Securities--12 CFR 1.
    OMB Number: 1557-0205.
    Form Number: None.
    Abstract: This submission covers an existing regulation and 
involves no change to the regulation or to the information collections 
embodied in the regulation. The OCC requests only that OMB renew its 
approval of the information collections in the current regulation.
    National banks need these collections of information to ensure that 
they conduct their operations in a safe and sound manner and in 
accordance with applicable federal banking statutes and regulations. 
The collections of information provide needed information for examiners 
and provide protections for national banks. The collections of 
information are necessary for regulatory and examination purposes and 
for national banks to ensure their compliance with federal law and 
regulations.
    The information requirements in 12 CFR part 1 are located as 
follows:
    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 (the '40 Act) if 
the portfolio of the entity consists exclusively of assets that a 
national bank may purchase and sell for its own account. The OCC needs 
the information to determine if circumstances exist where the bank's 
investment in a certain exempt investment fund would be acceptable 
under the '40 Act and does not pose unacceptable risk for the bank.
    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 for up to an additional five years. The OCC 
uses the information in the request to determine, on a case-by-case 
basis, that the bank wants to hold the debt for a nonspeculative 
purpose, whether 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, without change, of a currently approved 
collection.
    Affected Public: Businesses or other for-profit; individuals.
    Number of Respondents: 25.
    Total Annual Responses: 25.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 460 burden hours.
    OCC Contact: Jessie Dunaway or Camille Dixon, (202) 874-5090, 
Legislative and Regulatory Activities Division, OMB No. 1557-0205, 
Office of the Comptroller of the Currency, 250 E Street SW, Washington, 
DC 20219.
    OMB Reviewer: Alexander Hunt, (202) 395-7340, Paperwork Reduction 
Project 1557-0205, Office of Management and Budget, Room 10226, New 
Executive Office Building, Washington, DC 20503.

Comments:

    Your comment will become a matter of public record. You are invited 
to comment on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information has practical utility;
    (b) Whether the OCC's burden estimate is accurate;
    (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) Whether the OCC's estimates of the capital or startup costs and 
costs of operation, maintenance, and purchase of services to provide 
information are accurate.

    Dated: June 28, 2000.
Mark J. Tenhundfeld,
Assistant Director, Legislative & Regulatory Activities Division.
[FR Doc. 00-16893 Filed 7-3-00; 8:45 am]
BILLING CODE 4810-33-P


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