Federal Register / Vol. 89, No. 204 / Tuesday, October 22, 2024 / Notices 84445 

Comments received after that date will 

be considered if practicable. Anyone 

can search the electronic form of any 

written communications and comments 

received into any of the U.S. 

Department of Transportation’s (DOT) 

dockets by the name of the individual 

submitting the comment (or signing the 

document, if submitted on behalf of an 

association, business, labor union, etc.). 

Under 5 U.S.C. 553(c), DOT solicits 

comments from the public to better 

inform its processes. DOT posts these 

comments, without edit, including any 

personal information the commenter 

provides, to www.regulations.gov, as 

described in the system of records 

notice (DOT/ALL–14 FDMS), which can 

be reviewed at https://

www.transportation.gov/privacy. See 

also https://www.regulations.gov/ 

privacy-notice for the privacy notice of 

regulations.gov. 

Issued in Washington, DC. 

John Karl Alexy, 

Associate Administrator for Railroad Safety 

Chief Safety Officer. 

[FR Doc. 2024–24456 Filed 10–21–24; 8:45 am] 

BILLING CODE 4910–06–P 

DEPARTMENT OF TRANSPORTATION 

Federal Railroad Administration 

[Docket Number FRA–2011–0085] 

Petition for Extension of Waiver of 

Compliance 

Under part 211 of title 49 Code of 

Federal Regulations (CFR), this 

document provides the public notice 

that on August 29, 2024, BNSF Railway 

Company (BNSF) petitioned the Federal 

Railroad Administration (FRA) for an 

extension of a waiver of compliance 

from certain provisions of the Federal 

railroad safety regulations contained at 

49 CFR part 213 (Track Safety 

Standards). The relevant Docket 

Number is FRA–2011–0085. 

Specifically, BNSF seeks an extension 

of relief from § 213.109(d)(9), Crossties, 

and § 213.317, Rail fastening systems, to 

allow BNSF to continue using ‘‘threequarter’’ concrete crossties at certain 

locations. The current waiver ‘‘permits 

BNSF to operate trains on concrete 

crossties in which both rail seats are 

intact, but only one rail seat permits rail 

fastening as required under the abovecited regulations.’’ The crossties must be 

repositioned ‘‘end-for-end, so both rails 

are secured at every other rail seat.’’ 

BNSF stated, in support of its request, 

that BNSF has maintained an inventory 

of locations where these crossties are 

installed and, when replacing these 

crossties for normal maintenance, 

brought the locations into compliance 

with the appropriate regulations. 

Additionally, BNSF noted that since the 

issuance of the waiver, no derailments 

caused by the crossties have occurred 

on the subject track segments. BNSF 

added that no passenger trains operate 

over the subject locations. 

A copy of the petition, as well as any 

written communications concerning the 

petition, is available for review online at 

www.regulations.gov. 

Interested parties are invited to 

participate in these proceedings by 

submitting written views, data, or 

comments. FRA does not anticipate 

scheduling a public hearing in 

connection with these proceedings since 

the facts do not appear to warrant a 

hearing. If any interested parties desire 

an opportunity for oral comment and a 

public hearing, they should notify FRA, 

in writing, before the end of the 

comment period and specify the basis 

for their request. 

All communications concerning these 

proceedings should identify the 

appropriate docket number and may be 

submitted at www.regulations.gov. 

Follow the online instructions for 

submitting comments. 

Communications received by 

December 23, 2024 will be considered 

by FRA before final action is taken. 

Comments received after that date will 

be considered if practicable. 

Anyone can search the electronic 

form of any written communications 

and comments received into any of the 

U.S. Department of Transportation’s 

(DOT) dockets by the name of the 

individual submitting the comment (or 

signing the document, if submitted on 

behalf of an association, business, labor 

union, etc.). Under 5 U.S.C. 553(c), DOT 

solicits comments from the public to 

better inform its processes. DOT posts 

these comments, without edit, including 

any personal information the 

commenter provides, to 

www.regulations.gov, as described in 

the system of records notice (DOT/ALL– 

14 FDMS), which can be reviewed at 

https://www.transportation.gov/privacy. 

See also https://www.regulations.gov/ 

privacy-notice for the privacy notice of 

regulations.gov. 

Issued in Washington, DC. 

John Karl Alexy, 

Associate Administrator for Railroad Safety, 

Chief Safety Officer. 

[FR Doc. 2024–24454 Filed 10–21–24; 8:45 am] 

BILLING CODE 4910–06–P 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

Agency Information Collection 

Activities: Information Collection 

Renewal; Submission for OMB Review; 

Fiduciary Activities 

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 

and respondent burden, invites 

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, ‘‘Fiduciary Activities.’’ The OCC 

also is giving notice that it has sent the 

collection to OMB for review. 

DATES: Comments must be received by 

November 21, 2024. 

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: Chief Counsel’s Office, 

Attention: Comment Processing, Office 

of the Comptroller of the Currency, 

Attention: 1557–0140, 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) 293–4835. 

Instructions: You must include 

‘‘OCC’’ as the agency name and ‘‘1557– 

0140’’ 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. 

Written comments and 

recommendations for the proposed 

information collection should also be 


ddrumheller on DSK120RN23PROD with NOTICES1
84446 Federal Register / Vol. 89, No. 204 / Tuesday, October 22, 2024 / Notices 

sent within 30 days of publication of 

this notice to www.reginfo.gov/public/ 

do/PRAMain. You can find this 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

You may review comments and other 

related materials that pertain to this 

information collection following the 

close of the 30-day comment period for 

this notice by the method set forth in 

the next bullet. 

• Viewing Comments Electronically: 

Go to www.reginfo.gov. Hover over the 

‘‘Information Collection Review’’ tab 

and click on ‘‘Information Collection 

Review’’ from the drop-down menu. 

From the ‘‘Currently under Review’’ 

drop-down menu, select ‘‘Department of 

Treasury’’ and then click ‘‘submit.’’ This 

information collection can be located by 

searching OMB control number ‘‘1557– 

0140’’ or ‘‘Fiduciary Activities.’’ 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. 

FOR FURTHER INFORMATION CONTACT: 

Shaquita Merritt, Clearance Officer, 

(202) 649–5490, Chief Counsel’s Office, 

Office of the Comptroller of the 

Currency, 400 7th Street SW, 

Washington, DC 20219. If you are deaf, 

hard of hearing, or have a speech 

disability, please dial 7–1–1 to access 

telecommunications relay services. 

SUPPLEMENTARY INFORMATION: Under the 

PRA (44 U.S.C. 3501 et seq.), 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. The OCC 

asks the OMB to extend its approval of 

the collection in this notice. 

Title: Fiduciary Activities. 

OMB Control No.: 1557–0140. 

Type of Review: Regular. 

Affected Public: Businesses or other 

for-profit. 

Description: The OCC regulates the 

fiduciary activities of national banks 

and Federal savings associations (FSAs), 

including the administration of 

collective investment funds (CIFs), 

pursuant to 12 U.S.C. 92a and 12 U.S.C. 

1464(n), respectively. Twelve CFR part 

9 contains the regulations that national 

banks must follow when conducting 

fiduciary activities, and 12 CFR part 150 

contains the regulations that FSAs must 

follow when conducting fiduciary 

activities. The OCC’s CIF regulation in 

12 CFR 9.18 governs CIFs managed by 

both national banks and FSAs. 

Twelve CFR 9.8 and 12 CFR 150.410– 

150.430 require that national banks and 

FSAs document the establishment and 

termination of each fiduciary account 

and maintain adequate records. Records 

must be retained for a period of three 

years from the later of the termination 

of the account or the termination of any 

litigation. The records must be separate 

and distinct from other records of the 

institution. 

Twelve CFR 9.9 and 150.480 require 

national banks and FSAs to note the 

results of any audit conducted 

(including significant actions taken as a 

result of the audit) in the minutes of the 

board of directors. National banks and 

FSAs that adopt a continuous audit 

system must note the results of all 

discrete audits performed since the last 

audit report (including significant 

actions taken as a result of the audits) 

in the minutes of the board of directors 

at least once during each calendar year. 

Twelve CFR 9.17(a) and 150.530 

require that a national bank or FSA 

seeking to surrender its fiduciary 

powers file with the OCC a certified 

copy of the resolution of its board of 

directors evidencing that intent. 

Twelve CFR 9.18(b)(1) (and 12 CFR 

150.260 by cross-reference) require 

national banks and FSAs to establish 

and maintain each CIF in accordance 

with a written plan (Plan). The Plan 

must include provisions relating to: 

• Investment powers and policies; 

• Allocation of income, profits, and 

losses; 

• Fees and expenses that will be 

charged to the fund and to participating 

accounts; 

• Terms and conditions regarding 

admission and withdrawal of 

participating accounts; 

• Audits of participating accounts; 

• Basis and method of valuing assets 

in the fund; 

• Expected frequency for income 

distribution to participating accounts; 

• Minimum frequency for valuation 

of fund assets; 

• Amount of time following a 

valuation date during which the 

valuation must be made; 

• Bases upon which the institution 

may terminate the fund; and 

• Any other matters necessary to 

define clearly the rights of participating 

accounts. 

Twelve CFR 9.18(b)(1) (and 12 CFR 

150.260 by cross-reference) require that 

national banks and FSAs make a copy 

of the Plan available for public 

inspection at their main offices and 

provide a copy of the Plan to any person 

who requests it. 

Twelve CFR 9.18(b)(4)(iii)(E) (and 12 

CFR 150.260 by cross-reference) require 

that national banks and FSAs adopt 

portfolio and issuer qualitative 

standards and concentration restrictions 

for STIFs. 

Twelve CFR 9.18(b)(4)(iii)(F) (and 12 

CFR 150.260 by cross-reference) require 

that national banks and FSAs adopt 

liquidity standards and include 

provisions that address contingency 

funding needs for STIFs. 

Twelve CFR 9.18(b)(4)(iii)(G) (and 12 

CFR 150.260 by cross-reference) require 

that national banks and FSAs adopt 

shadow pricing procedures for STIFs 

that calculate the extent of difference, if 

any, of the mark-to-market net asset 

value per participating interest from the 

STIF’s amortized cost per participating 

interest and to take certain actions if 

that difference exceeds $0.005 per 

participating interest. 

Twelve CFR 9.18(b)(4)(iii)(H) (and 12 

CFR 150.260 by cross-reference) require 

that national banks and FSAs adopt, for 

STIFs, procedures for stress testing of 

the STIF’s ability to maintain a stable 

net asset value per participating interest 

and provide for reporting the results. 

Twelve CFR 9.18(b)(4)(iii)(I) (and 12 

CFR 150.260 by cross-reference) require 

that national banks and FSAs adopt, for 

STIFs, procedures that require an 

institution to disclose to the OCC and to 

STIF participants within five business 

days after each calendar month-end the 

following information about the fund: 

total assets under management; mark-tomarket and amortized cost net asset 

values; dollar-weighted average 

portfolio maturity; dollar-weighted 

average portfolio life maturity as of the 

last business day of the prior calendar 

month; and certain other security-level 

information for each security held. 

Twelve CFR 9.18(b)(4)(iii)(J) (and 12 

CFR 150.260 by cross-reference) require 

that national banks and FSAs adopt, for 

STIFs, procedures that require a 

national bank or FSA that manages a 

STIF to notify the OCC prior to or 

within one business day thereafter of 

certain events. 

Twelve CFR 9.18(b)(4)(iii)(K) (and 12 

CFR 150.260 by cross-reference) require 

that national banks and FSAs, adopt, for 

STIFs, certain procedures in the event 

that the STIF has repriced its net asset 

value below $0.995 per participating 

interest. 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 204 / Tuesday, October 22, 2024 / Notices 84447 

Twelve CFR 9.18(b)(4)(iii)(L) (and 12 

CFR 150.260 by cross-reference) require 

that national banks and FSAs adopt, for 

STIFs, procedures for initiating 

liquidation of a STIF upon the 

suspension or limitation of withdrawals 

as a result of redemptions. 

Twelve CFR 9.18(b)(5)(iii)(A) (and 12 

CFR 150.260 by cross-reference) 

provides that a national bank or FSA 

administering a collective investment 

fund that is invested primarily in real 

estate or other assets that are not readily 

marketable may require a prior notice 

period, not to exceed one year, for 

withdrawals. 

Section 9.18(b)(5)(iii)(B) (and 12 CFR 

150.260 by cross-reference) provides 

that a national bank or FSA that requires 

a prior notice period for withdrawals 

must withdraw an account from the 

fund within the prior notice period or, 

if permissible under the fund’s written 

plan, within one year after the date on 

which notice was required. 

Section 9.18(b)(5)(iii)(C) (and 12 CFR 

150.260 by cross-reference) provides 

that a national bank or FSA may, with 

OCC approval, withdraw an account 

from a collective investment fund up to 

one year after the end of the standard 

withdrawal period in 12 CFR 

9.18(b)(5)(iii)(B) if certain conditions are 

satisfied. Among other conditions, the 

fund’s written plan, including its notice 

and withdrawal policy, must authorize 

an extended withdrawal period and be 

fully disclosed to fund participants. In 

addition, the bank’s or FSA’s board of 

directors, or a committee authorized by 

the board of directors, must determine 

that, due to unanticipated and severe 

market conditions for specific assets 

held by the fund, an extended 

withdrawal period is necessary in order 

to preserve the value of the fund’s assets 

for the benefit of fund participants. 

Twelve CFR 9.18(b)(5)(iii)(D) (and 12 

CFR 150.260 by cross-reference) 

provides that a national bank or FSA 

may request that the OCC approve an 

extension beyond the initial one-year 

extended withdrawal period in 12 CFR 

9.18(b)(5)(iii)(C) if certain conditions are 

satisfied. Extensions past the initial oneyear extension must be requested and 

approved annually for a maximum of 

two years after the initial one-year 

extension period. 

Twelve CFR 9.18(b)(6)(ii) (and 12 CFR 

150.260 by cross-reference) require, for 

CIFs, that national banks and FSAs, at 

least once during each 12-month period, 

prepare a financial report of the fund 

based on the audit required by section 

9.18(b)(6)(i). The report must disclose 

the fund’s fees and expenses in a 

manner consistent with applicable state 

law in the state which the institution 

maintains the fund and must contain: 

• A list of investments in the fund 

showing the cost and current market 

value of each investment; 

• A statement covering the period 

after the previous report showing the 

following (organized by type of 

investment): 

Æ A summary of purchases (with 

costs); 

Æ A summary of sales (with profit or 

loss and any investment change); 

Æ Income and disbursements; and 

Æ An appropriate notation of 

investments. 

Twelve CFR 9.18(b)(6)(iv) (and 12 

CFR 150.260 by cross-reference) require 

that a national bank or FSA managing a 

CIF provide a copy of the financial 

report, or provide notice that a copy of 

the report is available upon request 

without charge, to each person who 

ordinarily would receive a regular 

periodic accounting with respect to each 

participating account. The national bank 

or FSA may provide a copy to 

prospective customers. In addition, the 

institution must provide a copy of the 

report upon request to any person for a 

reasonable charge. 

Twelve CFR 9.18(c)(5) (and 12 CFR 

150.260 by cross-reference) require that, 

for special exemption CIFs, national 

banks and FSAs, respectively, must 

submit to the OCC a written plan that 

sets forth: 

• The reason the proposed fund 

requires a special exemption; 

• The provisions of the fund that are 

inconsistent with section 9.18(a) and 

(b); 

• The provisions of section 9.18(b) for 

which the institution seeks an 

exemption; and 

• The manner in which the proposed 

fund addresses the rights and interests 

of participating accounts. 

Estimated Burden: 

Estimated Frequency of Response: On 

occasion. 

Estimated Number of Respondents: 

282. 

Estimated Total Annual Burden: 

198,957 hours. 

Comments: On July 03, 2024, the OCC 

published a 60-day notice for this 

information collection, (89 FR 55308). 

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. 

Patrick T. Tierney, 

Assistant Director, Office of the Comptroller 

of the Currency. 

[FR Doc. 2024–24407 Filed 10–21–24; 8:45 am] 

BILLING CODE 4810–33–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

Notice of OFAC Sanctions Actions 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Notice. 

SUMMARY: The U.S. Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is publishing the names 

of one or more persons that have been 

placed on OFAC’s Specially Designated 

Nationals and Blocked Persons List 

(SDN List) based on OFAC’s 

determination that one or more 

applicable legal criteria were satisfied. 

All property and interests in property 

subject to U.S. jurisdiction of these 

persons are blocked, and U.S. persons 

are generally prohibited from engaging 

in transactions with them. 

DATES: This action was issued on 

October 16, 2024. See Supplementary 

Information section for relevant dates. 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Associate Director for Global 

Targeting, tel.: 202–622–2420; Assistant 

Director for Sanctions Compliance, tel.: 

202–622–2490 or https://

ofac.treasury.gov/contact-ofac. 

SUPPLEMENTARY INFORMATION: 

Electronic Availability 

The SDN List and additional 

information concerning OFAC sanctions 

programs are available on OFAC’s 

website: https://ofac.treasury.gov. 

Notice of OFAC Action 

On October 16, 2024, OFAC 

determined that the property and 

interests in property subject to U.S. 

jurisdiction of the following persons are 

blocked under the relevant sanctions 

authorities listed below. 

BILLING CODE 4810–AL–P 


ddrumheller on DSK120RN23PROD with NOTICES1