38206 Federal Register / Vol. 83, No. 150 / Friday, August 3, 2018 / Notices 

Estimated Number of Respondents: 

200 AMCs; 55 States and Territories. 

Total Estimated Annual Burden: 421. 

The OCC issued a notice for 60 days 

of comment on March 23, 2018, 83 FR 

12843. One comment was received from 

a trade association representing 

appraisal management companies 

(AMCs). 

Topic 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 

In response to topic A, the commenter 

stated that the collection of information 

is ‘‘necessary and does have practical 

utility’’ but ‘‘only to the extent that the 

information collected serves the proper 

purpose to promote appraiser 

independence while ensuring a healthy 

real estate valuation market.’’ While not 

stated expressly, the commenter implies 

that the ‘‘proper purpose’’ of the 

collection is limited to collections 

relating appraiser independence. 

In response to this comment, the OCC 

notes that the purpose of the AMC rule 

and the collection is to implement all 

required elements of the statute, not 

only provisions that extend to appraiser 

independence. See 12 U.S.C. 3353(a) 

(setting minimum requirements for 

registration regulation in participating 

states); id. section 3353(d) (setting 

registration limitations for AMCs); and 

id. section 3353(e) (requiring reporting 

of information by AMCs to the ASC). 

The OCC and the other agencies that 

were party to the AMC rule were 

required to adopt regulations to 

implement the statutory requirements 

and the collection is a necessary 

component for implementation of these 

requirements. 

To the extent that the commenter 

disagrees with the scope and 

requirements of Title XI and the AMC 

rule, the OCC also notes that regulations 

may not be rescinded by the OCC 

through the PRA renewal process. 

Topic B: The Accuracy of the OCC’s 

Estimate of the Information Collection 

Burden 

In response to topic B, the commenter 

states that the burden estimates are too 

low. The commenter believes that the 

number of respondents is approximately 

twice what was estimated. The 

commenter also states that the actual 

number of AMCs will not be known 

until 2020 when the AMC National 

Registry is fully operational. 

The commenter indicates that its 

members believe that the estimate of the 

annual burden to comply is also too 

low. The commenter recommends that 

the estimate be increased to twice the 

current estimate. The commenter notes 

that each state differs in complexity of 

their demands for the collection of 

information and not all are on the same 

renewal schedule. Some renew annually 

and some biennially, which have 

varying burdens for preparation and 

validation. 

The burden estimates for this 

collection have historically been 

prepared on an industry-wide basis and 

then allotted to each agency. The FDIC 

prepared the industry-wide estimates 

for this renewal. We invite commenters 

to review the analysis, which is 

included in our supporting statement, 

and comment during the 30-day 

comment period. 

Topic C: Ways to Enhance the Quality, 

Utility, and Clarity of the Information to 

be Collected 

In response to topic C, the commenter 

suggested that the ASC should issue 

additional guidance to states and AMCs 

concerning the AMC minimum 

requirements. The goal of such guidance 

would be to ‘‘provide consistency in the 

implementation of the regulations and 

information required.’’ The commenter 

also expressed concern that wide 

variation of AMC requirements from 

state to state may have material 

unintended consequences on lending 

activity in a particular jurisdiction. 

In response to these comments, OCC 

notes that the commenter’s suggestions 

do not relate to the collection. In 

addition, while Title XI and the AMC 

rule set minimum standards for the 

registration and supervision of AMCs by 

states, Title XI and the AMC rule 

expressly provide that a state may adopt 

requirements in addition to those 

contained in the AMC regulation. 12 

U.S.C. 3353(b); 12 CFR 34.210(d). The 

OCC will, however, refer these 

suggestions to the ASC for 

consideration. 

Topic 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 

In response to topic D, the commenter 

recommends that the ASC ‘‘find 

opportunities to develop reporting 

efficiencies in the licensing system, 

which could include partnering with 

the Nationwide Multistate Licensing 

System (NMLS) or investing in a new 

process. Furthermore, the ASC should 

be more aggressive in supporting 

modernization of the outdated National 

Appraiser Registry (which AMCs must 

use to comply with the minimum 

requirements).’’ 

In response to these comments, OCC 

notes that the commenter’s suggestions 

do not relate to the collection. The OCC 

will, however, refer these suggestions to 

the ASC for consideration. 

Topic E: Estimates of Capital or Start-up 

Costs and Costs of Operation, 

Maintenance, and Purchase of Services 

to Provide Information 

The commenter stated that the 

‘‘estimated cost to implement the AMC 

minimum requirements and AMC 

Registry requirements in 50 states and 

the District of Columbia ranges from 

$250,000–$500,000 per AMC,’’ not 

including ‘‘the additional $100,000– 

$200,000 paid by AMCs to the ASC to 

be on the National AMC Registry.’’ 

In response to the comment, the OCC 

notes that the commenter has not 

segregated the costs relating to the 

collection from costs of complying with 

the substantive requirements of Title XI 

and the AMC rule. 

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 information collection 

burden; 

(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. 

Dated: July 30, 2018. 

Karen Solomon, 

Acting Senior Deputy Comptroller and Chief 

Counsel. 

[FR Doc. 2018–16639 Filed 8–2–18; 8:45 am] 

BILLING CODE 4810–33–P 

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 


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Federal Register / Vol. 83, No. 150 / Friday, August 3, 2018 / Notices 38207 

1On April 3, 2018, the OCC published a 60-Day 

notice for this information collection. 

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: 

• Viewing Comments Electronically: 

Go to www.reginfo.gov. Click on the 

‘‘Information Collection Review’’ tab. 

Underneath the ‘‘Currently under 

Review’’ section heading, from the dropdown 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 nonpublic 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 nonpublic 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 


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38208 Federal Register / Vol. 83, No. 150 / Friday, August 3, 2018 / Notices 

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 

DEPARTMENT OF THE TREASURY 

Proposed Collection; Comment 

Request 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork burdens, invites 

the general public and other Federal 

agencies to comment on revisions in 

2018 of a currently approved 

information collection that is proposed 

for approval by the Office of 

Management and Budget. The Office of 

International Affairs within the 

Department of the Treasury is soliciting 

comments concerning the revision of 

the Annual Report of U.S. Ownership of 

Foreign Securities, including Selected 

Money Market Instruments. The next 

such collection is an annual survey to 

be conducted as of December 31, 2018. 

DATES: Written comments should be 

received on or before October 2, 2018 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to Dwight Wolkow, International 

Portfolio Investment Data Systems, 

Department of the Treasury, Room 5422 

MT, 1500 Pennsylvania Avenue NW, 

Washington DC 20220. In view of 

possible delays in mail delivery, you 

may also wish to send a copy to Mr. 

Wolkow by email (comments2TIC@

do.treas.gov) or FAX (202–622–2009). 

Mr. Wolkow can also be reached by 

telephone (202–622–1276). 

FOR FURTHER INFORMATION CONTACT: 

Copies of the proposed form and 

instructions are available at Part II of the 

Treasury International Capital (TIC) 

Forms web page ‘‘Forms SHL/SHLA & 

SHC/SHCA’’, at: https://

www.treasury.gov/resource-center/datachart-center/tic/Pages/formssh.aspx#shc. The proposed forms 

(called schedules) are unchanged from 

the previous survey that was conducted 

as of December 31, 2017 (SHCA(2017)). 

The ‘‘Current Actions’’ below are 

changes in the previous instructions. 

Requests for additional information 

should be directed to Mr. Wolkow. 

SUPPLEMENTARY INFORMATION: 

Title: Treasury International Capital 

(TIC) Form SHC/SHCA ‘‘U.S. 

Ownership of Foreign Securities, 

including Selected Money Market 

Instruments.’’ 

OMB Control Number: 1505–0146. 

Abstract: Form SHC/SHCA is part of 

the Treasury International Capital (TIC) 

reporting system, which is required by 

law (22 U.S.C. 3101 et seq.; E.O. 11961; 

31 CFR 129) and is used to conduct 

annual surveys of U.S. residents’ 

ownership of foreign securities for 

portfolio investment purposes. These 

data are used by the U.S. Government in 

the formulation of international 

financial and monetary policies, and for 

the computation of the U.S. balance of 

payments accounts and of the U.S. 

international investment position. These 

data are also used to provide 

information to the public and to meet 

international reporting commitments. 

The SHC/SHCA survey is part of an 

internationally coordinated effort under 

the auspices of the International 

Monetary Fund to improve data on 

securities worldwide. Most of the major 

industrial and financial countries 

conduct similar surveys. 

The data collection includes large 

benchmark surveys conducted every 

five years, and smaller annual surveys 

conducted in the non-benchmark years. 

The data collected under an annual 

survey are used in conjunction with the 

results of the preceding benchmark 

survey and of recent SLT reports to 

make economy-wide estimates for that 

non-benchmark year. Currently, the 

determination of who must report in the 

annual surveys is based primarily on the 

data submitted during the preceding 

benchmark survey and on data 

submitted on SLT reports around June 

of the survey year. The data requested 

in the annual survey will generally be 

the same as requested in the preceding 

benchmark report. Form SHC is used for 

the benchmark survey of all significant 

U.S.-resident custodians and endinvestors regarding U.S. ownership of 

foreign securities. In non-benchmark 

years Form SHCA is used for the annual 

surveys of primarily the very largest 

U.S.-resident custodians and endinvestors. 

Current Actions: 

No changes in the forms (schedules) 

are made from the previous survey that 

was conducted as of December 31, 2017. 

The proposed changes in the 

instructions are: 

(1) In section II.A.(2) ‘‘Who Must 

Report/End-Investors’’, new text is 

added to clarify reporting 

responsibilities; in particular that 

reporting (as end-investor) is the 

responsibility of the manager of a fund, 

partnership, trust, etc., if they have 

discretion over investments of the fund/ 

partnership/trust/etc.; 

(2) In section II.A.(2) ‘‘Who Must 

Report/End-Investors’’, the terms 

‘‘limited partnerships and trusts’’ are 

added in the third bullet in the list; 

(3) Section III.B/’’direct investments’’ 

is revised to make the section more 

uniform across all TIC reports; 

(4) Section III.C.4/’’pension & 

retirement funds’’ is revised to cover 

reporting responsibilities and foreignresident pension funds; 

(5) In Appendix G, the link is 

corrected to point to the March 2018 

version of the TIC Glossary. 

(6) Some changes in text, page 

numbers and formatting are made to 

clarify other parts of the instructions. 

The changes will improve overall 

survey reporting. 

Type of Review: Revision of currently 

approved data collection. 

Affected Public: Business/Financial 

Institutions. 

Form: TIC SHC/SHCA, Schedules 1, 2 

and 3 (1505–0146). 

Estimated Number of Respondents: 

An annual average (over five years) of 

306, but this varies widely from about 

785 in benchmark years (once every five 

years) to about 190 in other years (four 

out of every five years). 

Estimated Average Time per 

Respondent: An annual average (over 

five years) of about 174 hours, but this 

will vary widely from respondent to 

respondent. (a) In the year of a 

benchmark survey, which is conducted 

once every five years, it is estimated that 

exempt respondents will require an 

average of 17 hours; custodians of 

securities providing security-by-security 

information will require an average of 

361 hours, but this figure will vary 

widely for individual custodians; endinvestors providing security-by-security 

information will require an average of 

121 hours; and end-investors and 

custodians employing U.S. custodians 

will require an average of 41 hours. (b) 

In a non-benchmark year, which occurs 

four years out of every five years: 

Custodians of securities providing 

security-by-security information will 

require an average of 546 hours (because 

only the largest U.S.-resident custodians 

will report), but this figure will vary 

widely for individual custodians; endinvestors providing security-by-security 

information will require an average of 

146 hours; and reporters entrusting their 

foreign securities to U.S. custodians will 

require an average of 49 hours. The 


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