60506 Federal Register / Vol. 75, No. 189 / Thursday, September 30, 2010 / Notices 

embedded option has intrinsic value to 

the bank, the floor or ceiling should be 

ignored and the instrument should be 

treated as a floating rate instrument. 

However, if the embedded option has 

intrinsic value to the bank’s 

counterparty, the contractual floor or 

ceiling should continue to be taken into 

account and the instrument should be 

treated as a fixed rate instrument. For 

example, when the interest rate on a 

floating rate loan reaches its contractual 

ceiling, the embedded option 

represented by the ceiling has intrinsic 

value to the borrower and is a detriment 

to the bank because the loan’s yield to 

the bank is lower than what it would 

have been without the ceiling. When the 

interest rate on a floating rate loan 

reaches its contractual floor, the 

embedded option represented by the 

floor has intrinsic value to the bank and 

is a benefit to the bank because the 

loan’s yield to the bank is higher than 

what it would have been without the 

floor. 

Accordingly, the agencies are 

proposing to revise the instructions for 

reporting maturity and repricing data in 

the four Call Report schedules identified 

above. As revised, the instructions 

would indicate that a floating rate asset 

that has reached its contractual ceiling 

and a floating rate liability that has 

reached its contractual floor would be 

treated as a fixed rate instrument and 

reported based on the time remaining 

until its contractual maturity date. In 

contrast, the instructions would state 

that a floating rate asset that has reached 

its contractual floor and a floating rate 

liability that has reached its contractual 

ceiling would be treated as a floating 

rate instrument and reported based on 

the time remaining until the next 

interest rate adjustment date (or the 

contractual maturity date, if earlier). 

Request for Comment 

Public comment is requested on all 

aspects of this joint notice. Comments 

are invited on: 

(a) Whether the proposed revisions to 

the collections of information that are 

the subject of this notice are necessary 

for the proper performance of the 

agencies’ functions, including whether 

the information has practical utility; 

(b) The accuracy of the agencies’ 

estimates of the burden of the 

information collections as they are 

proposed to be revised, 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 

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 services 

to provide information. 

Comments submitted in response to 

this joint notice will be shared among 

the agencies. All comments will become 

a matter of public record. 

Dated: September 23, 2010. 

Michele Meyer, 

Assistant Director, Legislative and Regulatory 

Activities Division, Office of the Comptroller 

of the Currency. 

Board of Governors of the Federal Reserve 

System, September 24, 2010. 

Jennifer J. Johnson 

Secretary of the Board. 

Dated at Washington, DC, this 23rd day of 

September, 2010. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. 2010–24476 Filed 9–29–10; 8:45 am] 

BILLING CODE 6210–01–P; 4810–33–P; 6714–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Revenue Procedure 2004– 

46 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, 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 proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently, the IRS is 

soliciting comments concerning 

Revenue Procedure 2004–45, Relief 

from Late GST Allocation. 

DATES: Written comments should be 

received on or before November 29, 

2010 to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Gerald Shields, Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the revenue procedure should 

be directed to Allan Hopkins at Internal 

Revenue Service, Room 6129, 1111 

Constitution Avenue, NW., Washington, 

DC 20224, or at (202) 622–6665, or 

through the Internet at 

Allan.M.Hopkins@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Relief from Late GST Allocation. 

OMB Number: 1545–1895. 

Revenue Procedure Number: Revenue 

Procedure 2004–46. 

Abstract: Revenue Procedure 2004–45 

provides guidance to certain taxpayers 

in order to obtain an automatic 

extension of time to make an allocation 

of the generation-skipping transfer tax 

exemption. Rather than requesting a 

private letter ruling, the taxpayer may 

file certain documents directly with the 

Cincinnati Service Center to obtain 

relief. 

Current Actions: There are no changes 

being made to the revenue procedure at 

this time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Estimated Number of Respondents: 

50. 

Estimated Annual Average Time per 

Respondent: 7 hours. 

Estimated Total Annual Hours: 350. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

Books or records relating to a collection 

of information must be retained as long 

as their contents may become material 

in the administration of any internal 

revenue law. Generally, tax returns and 

tax return information are confidential, 

as required by 26 U.S.C. 6103. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or 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 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’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 of 

information 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, 

mstockstill on DSKH9S0YB1PROD with NOTICES6

Federal Register / Vol. 75, No. 189 / Thursday, September 30, 2010 / Notices 60507 

maintenance, and purchase of services 

to provide information. 

Approved: September 7, 2010. 

Allan Hopkins, 

Tax Analyst. 

[FR Doc. 2010–24484 Filed 9–29–10; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Revenue Procedure 2007– 

37 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, 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 proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently, the IRS is 

soliciting comments concerning 

Revenue Procedure 2007–37, Substitute 

Mortality Tables for Single Employer 

Defined Benefit Plans. 

DATES: Written comments should be 

received on or before November 29, 

2010 to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Gerald Shields, Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the revenue procedure should 

be directed to Allan Hopkins at Internal 

Revenue Service, room 6129, 1111 

Constitution Avenue, NW., Washington, 

DC 20224, or at (202) 622–6665, or 

through the internet at 

Allan.M.Hopkins@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Substitute Mortality Tables for 

Single Employer Defined Benefit Plans. 

OMB Number: 1545–2073. 

Revenue Procedure Number: Revenue 

Procedure 2007–37. 

Abstract: Revenue Procedure 2007–37 

describes the process for obtaining a 

letter ruling as to the acceptability of 

substitute mortality tables under section 

430(h)(3)(C) of the Code. 

Current Actions: There are no changes 

being made to the revenue procedure at 

this time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations, not-for-profit 

institutions and farms. 

Estimated Number of Responses: 450. 

Estimated Annual Average Time per 

Response: 56 hrs., 25 min. 

Estimated Total Annual Hours: 

25,400. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

Books or records relating to a collection 

of information must be retained as long 

as their contents may become material 

in the administration of any internal 

revenue law. Generally, tax returns and 

tax return information are confidential, 

as required by 26 U.S.C. 6103. 

Request for comments: Comments 

submitted in response to this notice will 

be summarized and/or 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 agency, including 

whether the information shall have 

practical utility; (b) the accuracy of the 

agency’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 of information 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. 

Approved: September 7, 2010. 

Allan Hopkins, 

Tax Analyst. 

[FR Doc. 2010–24487 Filed 9–29–10; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

[REG–246256–96] 

Proposed Collection; Comment 

Request for Regulation Project 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, 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 proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently, the IRS is 

soliciting comments concerning an 

existing final regulation, REG–246256– 

96 (TD 8978), Excise Taxes on Excess 

Benefit Transactions (§ 53.4958–6). 

DATES: Written comments should be 

received on or before November 29, 

2010 to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Gerald Shields, Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the regulation should be 

directed to Allan Hopkins at Internal 

Revenue Service, room 6129, 1111 

Constitution Avenue, NW., Washington, 

DC 20224, or at (202) 622–6665, or 

through the Internet at 

Allan.M.Hopkins@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Excise Taxes on Excess Benefit 

Transactions. 

OMB Number: 1545–1623. Regulation 

Project Number: REG–246256–96. 

Abstract: This regulation relates to the 

excise taxes on excess benefit 

transactions under section 4958 of the 

Internal Revenue Code and affects 

certain tax-exempt organizations 

described in Code sections 501(c)(3) and 

(4). The collection of information entails 

obtaining and relying on appropriate 

comparability data and documenting the 

basis of an organization’s determination 

that compensation is reasonable, or a 

property transfer (or transfer of the right 

to use property) a fair market value. 

Current Actions: There is no change to 

this existing regulation. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Not-for-profit 

institutions. 

Estimated Number of Respondents: 

150,427. 

Estimated Time per Respondent: 6 

hours, 3 minutes. 

Estimated Total Annual Burden 

Hours: 910,083. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

mstockstill on DSKH9S0YB1PROD with NOTICES6