Federal Register / Vol. 87, No. 37 / Thursday, February 24, 2022 / Notices 10429 

1OCC, Board of Governors of the Federal Reserve 

System, and Federal Deposit Insurance Corporation. 

2For the OCC, the term ‘‘financial institution’’ or 

‘‘institution’’ includes national banks, Federal 

savings associations, and Federal branches and 

agencies supervised by the OCC. 

3 78 FR 17766 (March 22, 2013). 

existing collection of information, 

before submitting the collection to OMB 

for approval. To comply with this 

requirement, the OCC is publishing 

notice of the proposed collection of 

information set forth in this document. 

Title: Leveraged Lending. 

OMB Control No.: 1557–0315. 

Description: On March 22, 2013, the 

agencies 1 issued guidance to the 

financial institutions they supervise 2 on 

how to evaluate and monitor credit risks 

in leveraged loans, understand the effect 

of changes in borrowers’ enterprise 

values on credit portfolio quality, and 

assess the sensitivity of future credit 

losses to these changes in enterprise 

values.3 In regard to the underwriting of 

such credits, the guidance provides 

information for financial institutions to 

consider in assessing whether borrowers 

have the ability to repay credits when 

due and whether borrowers have 

sustainable capital structures, including 

bank borrowings and other debt, to 

support their continued operations 

through economic cycles. The guidance 

also provides information to financial 

institutions on the risks and potential 

impact of stressful events and 

circumstances on a borrower’s financial 

condition. 

The final guidance recommends that 

financial institutions consider 

developing: (i) Underwriting policies for 

leveraged lending, including stresstesting procedures for leveraged credits; 

(ii) risk management policies, including 

stress-testing procedures for pipeline 

exposures; and, (iii) policies and 

procedures for incorporating the results 

of leveraged credit and pipeline stress 

tests into the firm’s overall stress-testing 

framework. While not requirements, 

these recommended policies qualify as 

‘‘collections of information’’ as defined 

in the PRA. 

Respondents are financial institutions 

with leveraged lending activities as 

defined in the guidance that may 

develop policies recommended in the 

guidance. 

Title: Guidance on Leveraged 

Lending. 

OMB Control No.: 1557–0315. 

Frequency of Response: Annual. 

Affected Public: Financial institutions 

with leveraged lending. 

Burden Estimates: 

Estimated number of respondents: 29. 

Estimated total annual burden: 39,162 

hours to build; 49,462 hours for ongoing 

use. 

Total estimated annual burden: 

88,624 hours. 

Comments submitted in response to 

this notice will be summarized, 

included in the request for OMB 

approval, and become a matter of public 

record. Comments are invited on: 

(a) Whether the information collection 

is necessary for the proper performance 

of the OCC’s functions, including 

whether the information has practical 

utility; 

(b) The accuracy of the OCC’s 

estimates of the burden of the 

information collection, including the 

validity of the methodology and 

assumptions used; 

(c) Ways to enhance the quality, 

utility, and clarity of the information to 

be collected; 

(d) Ways to minimize the burden of 

the information collection on 

respondents, including through the use 

of automated collection techniques or 

other forms of information technology; 

and 

(e) Estimates of capital or startup costs 

and costs of operation, maintenance, 

and purchase of services to provide 

information. 

Theodore J. Dowd, 

Deputy Chief Counsel, Office of the 

Comptroller of the Currency. 

[FR Doc. 2022–03898 Filed 2–23–22; 8:45 am] 

BILLING CODE 4810–33–P 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

Agency Information Collection 

Activities; Information Collection 

Renewal; Comment Request; Funding 

and Liquidity Risk Management 

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 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 renewal 

of its information collection titled, 

‘‘Funding and Liquidity Risk 

Management.’’ 

DATES: Comments must be received by 

April 25, 2022. 

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: 1557–0244, 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– 

0244’’ 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. 

Following the close of this notice’s 

60-day comment period, the OCC will 

publish a second notice with a 30-day 

comment period. 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 by the method set forth in the 

next bullet. 

• Viewing Comments Electronically: 

Go to www.reginfo.gov. Hover over the 

‘‘Information Collection Review’’ 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 

by OMB control number ‘‘1557–0244’’ 

or ‘‘Funding and Liquidity Risk 

Management.’’ 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 


jspears on DSK121TN23PROD with NOTICES1
10430 Federal Register / Vol. 87, No. 37 / Thursday, February 24, 2022 / Notices 

1 75 FR 13656 (Mar. 22, 2010). 

2For national banks and Federal savings 

associations, see the Comptroller’s Handbook on 

Liquidity. For state member banks and bank holding 

companies, see the Federal Reserve’s Commercial 

Bank Examination Manual (section 4020), Bank 

Holding Company Supervision Manual (section 

4010), and Trading and Capital Markets Activities 

Manual (section 2030). For state non-member 

banks, see the FDIC’s Revised Examination 

Guidance for Liquidity and Funds Management 

(Trans. No. 2002–01) (Nov. 19, 2001), and Financial 

Institution Letter 84–2008, Liquidity Risk 

Management (August 2008). For federally insured 

credit unions, see Letter to Credit Unions No. 02– 

CU–05, Examination Program Liquidity 

Questionnaire (March 2002). 

3Basel Committee on Banking Supervision, 

‘‘Principles for Sound Liquidity Risk Management 

and Supervision,’’ September 2008. See 

www.bis.org/publ/bcbs144.htm. Federally insured 

credit unions are not directly referenced in the 

principles issued by the Basel Committee. 

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, Suite 3E– 

218, 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. 3501–3520), Federal 

agencies must obtain approval from 

OMB for each collection of information 

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 proposed extension 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 collection of information 

set forth in this document. 

Title: Funding and Liquidity Risk 

Management. 

OMB Control No.: 1557–0244. 

Description: The Interagency Policy 

Statement on Funding and Liquidity 

Risk Management 1 (Policy Statement) 

summarizes the principles of sound 

liquidity risk management that the 

Federal banking agencies have issued in 

the past 2 and, where appropriate, 

harmonizes these principles with the 

international statement issued by the 

Basel Committee on Banking 

Supervision titled ‘‘Principles for Sound 

Liquidity Risk Management and 

Supervision.’’ 3 The Policy Statement 

describes supervisory expectations for 

all depository institutions including 

banks, savings associations, and credit 

unions. 

Section 14 of the Policy Statement 

provides that financial institutions 

should consider liquidity costs, benefits, 

and risks in strategic planning and 

budgeting processes. Significant 

business activities should be evaluated 

for liquidity risk exposure as well as 

profitability. More complex and 

sophisticated financial institutions 

should incorporate liquidity costs, 

benefits, and risks in the internal 

product pricing, performance 

measurement, and new product 

approval process for all material 

business lines, products, and activities. 

Incorporating the cost of liquidity into 

these functions should align the risktaking incentives of individual business 

lines with the liquidity risk exposure 

their activities create for the institution 

as a whole. The quantification and 

attribution of liquidity risks should be 

explicit and transparent at the line 

management level, and should include 

consideration of how liquidity would be 

affected under stressed conditions. 

Section 20 of the Policy Statement 

states that liquidity risk reports should 

provide aggregate information with 

sufficient supporting detail to enable 

management to assess the sensitivity of 

the institution to changes in market 

conditions, its own financial 

performance, and other important risk 

factors. Institutions also should report 

on the use and availability of 

government support, such as lending 

and guarantee programs, and 

implications on liquidity positions, 

particularly since these programs are 

generally temporary or reserved as a 

source for contingent funding. 

Type of Review: Regular. 

Affected Public: Businesses or other 

for-profit. 

Estimated Number of Respondents: 

1,069. 

Frequency of Response: On occasion. 

Estimated Total Burden Hours: 78,096 

hours. 

Comments: 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 information 

collections are 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 

information collections 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 the 

services necessary to provide the 

required information. 

Theodore J. Dowd, 

Deputy Chief Counsel, Office of the 

Comptroller of the Currency. 

[FR Doc. 2022–03906 Filed 2–23–22; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Advisory Group to the Commissioner 

of Internal Revenue; Charter Renewal 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice. 

SUMMARY: The Charter for the Taxpayer 

Advocacy Panel Committee (TAP), has 

been renewed for a two-year period 

beginning February 16, 2022. 

FOR FURTHER INFORMATION CONTACT: Ms. 

Terrie English, Taxpayer Advocacy 

Panel Director, at 

TaxpayerAdvocacyPanel@irs.gov. For 

questions about TAP, call the TAP tollfree number, 1–888–912–1227. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given under section 10(a)(2) of 

the Federal Advisory Committee Act, 5 

U.S.C. App. (1988), and with the 

approval of the Secretary of the 

Treasury to announce the charter 

renewal for the Taxpayer Advocacy 

Panel Committee (TAP). The TAP 

purpose is to provide a taxpayer 

perspective to the Internal Revenue 

Service (IRS) on critical tax 

administrative programs. The TAP shall 

provide listening opportunities for 

taxpayers to independently identify 

suggestions or comments to improve IRS 

customer service through grass roots 

outreach efforts, and have direct access 

to elevate improvement 

recommendations to the appropriate 

operating divisions. The TAP shall also 

serve as a focus group to provide 

suggestions and/or recommendations 

directly to IRS management on IRS 

strategic initiatives. 


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