Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Margin and Capital Requirements for Covered Swap Entities: Exemptions, 50057-50058 [2016-17981]
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asabaliauskas on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 81, No. 146 / Friday, July 29, 2016 / Notices
Development Financial Institutions
Program (CDFI Program) and Native
American CDFI Assistance Program
(NACA Program). The form will be
renamed the Uses of Award Report
Form in an effort by the CDFI Fund to
create uniform reporting requirements.
DATES: Written comments should be
received on or before September 27,
2016 to be assured of consideration.
ADDRESSES: Submit your comments via
email to Michael Banks, Associate
Program Manager, CDFI Fund, at
cdfihelp@cdfi.treas.gov.
FOR FURTHER INFORMATION CONTACT:
Michael Banks, Associate Program
Manager, CDFI Fund, U.S. Department
of the Treasury, 1500 Pennsylvania
Avenue NW, Washington, DC 20220.
The Uses of Award Report Form may be
obtained from the CDFI Fund’s Web site
at https://www.cdfifund.gov/bea under
How to Apply Step 5: Compliance and
Reporting or https://www.cdfifund.gov/
cdfi under How to Apply Step 4:
Compliance and Reporting.
SUPPLEMENTARY INFORMATION: Title: Uses
of Award Report Form (formerly BEA
Program Award Report Form).
OMB Number: 1559–0032.
Abstract: The purpose of the BEA
Program is to provide an incentive to
insured depository institutions to
increase their activities in the form of
loans, investments, services, and
technical assistance within distressed
communities and provide financial
assistance to certified Community
Development Financial Institutions
(CDFIs) through grants, stock purchases,
loans, deposits, and other forms of
financial and technical assistance.
Applicants submit applications and are
evaluated in accordance with statutory
and regulatory requirements (12 CFR
1806), and requirements that are set
forth in the annual Notice of Funds
Availability. The CDFI Fund requires
BEA Program Award Recipients to use
BEA Program Awards for BEA Program
Qualified Activities, as defined in the
BEA Program regulations. Recipients are
required to report to the CDFI Fund on
their Qualified Activities per their
Assistance Agreements.
The CDFI Program is authorized by
the Riegle Community Development
Banking and Financial Institutions Act
of 1994 (Pub. L. 103–325, 12 U.S.C.
4701 et seq.). The CDFI Program uses
federal resources to invest in and build
the capacity of CDFIs to serve lowincome people and communities lacking
adequate access to affordable financial
products and services. The CDFI Fund
created the Native Initiatives, which
includes the NACA Program, to further
support the creation and expansion of
VerDate Sep<11>2014
18:42 Jul 28, 2016
Jkt 238001
Native CDFIs. Through the CDFI
Program and NACA Program, the CDFI
Fund provides: (1) Financial Assistance
(FA) awards to CDFIs and Native CDFIs
that have Comprehensive Business
Plans for creating demonstrable
community development impact
through the deployment of credit,
capital, and financial services within
their respective Target Markets or the
expansion into new Investment Areas,
Low-Income Targeted Populations, or
Other Targeted Populations, and (ii)
Technical Assistance (TA) grants to
CDFIs and Native CDFIs and entities
proposing to become CDFIs or Native
CDFIs in order to build their capacity to
better address the community
development and capital access needs of
their existing or proposed Target
Markets and/or to become certified
CDFIs. CDFI Program applicants submit
applications and are evaluated in
accordance with statutory and
regulatory requirements (12 CFR 1805),
and requirements that are set forth in an
annual Notice of Funds Availability.
NACA Program applicants submit
applications and are evaluated in
accordance with requirements that are
set forth in an annual Notice of Funds
Availability. Recipients with FA or TA
awards are required to report to the
CDFI Fund on the uses of those funds
per their Assistance Agreements.
In an effort to create uniformity in
reporting across the CDFI Fund, the
CDFI Fund seeks to revise the BEA
Program Award Report Form and
rename it the ‘‘Uses of Award Report
Form.’’ The BEA Program Award Report
Form is currently required for
Recipients of awards under the BEA
Program. These revisions would allow
the form to also be used by the
Community Development Financial
Institutions Program (CDFI Program)
and Native American CDFI Assistance
Program (NACA Program). This request
for public comment seeks to gather
information on the revised Use of
Award Report Form.
Current Actions: Renewal and
revision of an existing Information
Collection.
Type of Review: Regular Review.
Affected Public: Recipients of BEA
Program awards.
Estimated Number of BEA Program
Respondents: 80.
Estimated Annual Time per BEA
Program Respondent: 1 hour.
Affected Public: Recipients of CDFI or
NACA Program awards.
Estimated Number of CDFI and NACA
Program Respondents: 245.
Estimated Annual Time CDFI and
NACA Program per Respondent: 1 hour.
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Frm 00136
Fmt 4703
Sfmt 4703
50057
Estimated Total Annual Burden
Hours: 325 hours.
Requests For Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for Office of Management and
Budget (OMB) approval. All comments
will become a matter of public record
and will be published on the CDFI Fund
Web site at https://www.cdfifund.gov.
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 collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of technology; and (e)
estimates of capital or start-up costs and
costs of operation, maintenance, and
purchase of services to provide
information.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collections of information
displays a valid OMB control number.
Authority: 12 U.S.C. 4704, 4713; 12 CFR
parts 1805 and 1806.
Mary Ann Donovan,
Director, Community Development Financial
Institutions Fund.
[FR Doc. 2016–17996 Filed 7–28–16; 8:45 am]
BILLING CODE 4810–70–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Submission for OMB Review;
Margin and Capital Requirements for
Covered Swap Entities: Exemptions
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for comment.
AGENCY:
The OCC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other Federal
agencies 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
SUMMARY:
E:\FR\FM\29JYN1.SGM
29JYN1
asabaliauskas on DSK3SPTVN1PROD with NOTICES
50058
Federal Register / Vol. 81, No. 146 / Friday, July 29, 2016 / Notices
valid Office of Management and Budget
(OMB) control number.
The OCC is soliciting comment
concerning the renewal of its
information collection titled, ‘‘Margin
and Capital Requirements for Covered
Swap Entities: Exemptions.’’ The OCC
also is giving notice that it has sent the
collection to OMB for review.
DATES: Comments must be submitted on
or before August 29, 2016.
ADDRESSES: Because paper mail in the
Washington, DC area and at the OCC is
subject to delay, commenters are
encouraged to submit comments by
email, if possible. Comments may be
sent to: Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, Attention:
1557–0335, 400 7th Street SW., Suite
3E–218, Mail Stop 9W–11, Washington,
DC 20219. In addition, comments may
be sent by fax to (571) 465–4326 or by
electronic mail to prainfo@occ.treas.gov.
You may personally inspect and
photocopy comments at the OCC, 400
7th Street SW., Washington, DC 20219.
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 hard of hearing, TTY,
(202) 649–5597. Upon arrival, visitors
will be required to present valid
government-issued photo identification
and to submit to security screening in
order to inspect and photocopy
comments.
All 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, 1557–0335, U.S. Office of
Management and Budget, 725 17th
Street NW., #10235, Washington, DC
20503 or by email to: oira submission@
omb.eop.gov.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, OCC Clearance
Officer, (202) 649–5490 or, for persons
who are deaf or hard of hearing, TTY,
(202) 649–5597, Legislative and
Regulatory Activities Division, Office of
the Comptroller of the Currency, 400 7th
Street SW., Suite 3E–218, Mail Stop
9W–11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC
is requesting that OMB extend its
approval of the following information
collection.
In connection with issuance of the
interim final rule entitled ‘‘Margin and
VerDate Sep<11>2014
18:42 Jul 28, 2016
Jkt 238001
Capital Requirements for Covered Swap
Entities,’’ 1 OMB provided a six-month
approval for this information collection.
The OCC is proposing to extend OMB
approval of the collection for the
standard three years.
Title: Margin and Capital
Requirements for Covered Swap
Entities: Exemptions.
OMB Control No.: 1557–0335.
Description: The OCC issued an
interim final rule required by the
Terrorism Risk Insurance Program
Reauthorization Act of 2015 (TRIPRA).2
Title III of TRIPRA, the ‘‘Business Risk
Mitigation and Price Stabilization Act of
2015,’’ amends the statutory provisions
added by the Dodd-Frank Act relating to
margin requirements for non-cleared
swaps and non-cleared security-based
swaps. Section 302 of TRIPRA amends
sections 731 and 764 of the Dodd-Frank
Act to provide that the initial and
variation margin requirements do not
apply to certain transactions with
specified counterparties that qualify for
an exemption or exception from
clearing. Non-cleared swaps and noncleared security-based swaps that are
exempt under section 302 of TRIPRA
will not be subject to the Agencies’ 3
rules implementing margin
requirements.4 The effect of the interim
final rule is to augment provisions of the
final rule published by the Agencies in
November 2015 5 that allow swap
entities to collect no initial or variation
margin from certain ‘‘other
counterparties’’ like commercial endusers with a provision that grants an
exception from the margin requirements
for certain swaps with these and certain
additional counterparties.
The reporting requirements in the
interim final rule are found in 12 CFR
45.1(d), which refers to other statutory
provisions that set forth conditions for
an exemption from clearing. Section
45.1(d)(1) provides an exemption for
non-cleared swaps if one of the
counterparties to the swap is not a
financial entity, is using swaps to hedge
or mitigate commercial risk, and notifies
the Commodity Futures Trading
Commission of how it generally meets
its financial obligations associated with
entering into non-cleared swaps.
FR 74915 (November 30, 2015).
Law 114–1, 129 Stat. 3 (2015).
3 The Agencies are the Office of the Comptroller
of the Currency, the Board of Governors of the
Federal Reserve System, the Federal Deposit
Insurance Corporation, the Farm Credit
Administration, and the Federal Housing Finance
Agency.
4 The interim final rule is a companion rule to a
final rule adopted to implement section 731 and
764 of the Dodd-Frank Act.
5 The final rule was issued on November 30, 2015
(80 FR 74840).
PO 00000
1 80
2 Public
Frm 00137
Fmt 4703
Sfmt 4703
Section 45.1(d)(2) provides an
exemption for security-based swaps if
the counterparty notifies the Securities
and Exchange Commission of how it
generally meets its financial obligations
associated with entering into noncleared security-based swaps.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals;
Businesses or other for-profit.
Estimated Number of Respondents:
20.
Estimated Total Annual Burden:
20,000.
On April 19, 2016, the OCC issued a
notice for 60 days of comment
concerning the collection, 81 FR 23082.
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 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 25, 2016.
Karen Solomon,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2016–17981 Filed 7–28–16; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Quarterly Publication of Individuals,
Who Have Chosen To Expatriate, as
Required by Section 6039G
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice.
AGENCY:
This notice is provided in
accordance with IRC section 6039G of
the Health Insurance Portability and
Accountability Act (HIPPA) of 1996, as
amended. This listing contains the name
of each individual losing United States
citizenship (within the meaning of
section 877(a) or 877A) with respect to
whom the Secretary received
SUMMARY:
E:\FR\FM\29JYN1.SGM
29JYN1
]]>Agencies
[Federal Register Volume 81, Number 146 (Friday, July 29, 2016)]
[Notices]
[Pages 50057-50058]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-17981]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Margin and Capital Requirements for
Covered Swap Entities: Exemptions
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 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
[[Page 50058]]
valid Office of Management and Budget (OMB) control number.
The OCC is soliciting comment concerning the renewal of its
information collection titled, ``Margin and Capital Requirements for
Covered Swap Entities: Exemptions.'' The OCC also is giving notice that
it has sent the collection to OMB for review.
DATES: Comments must be submitted on or before August 29, 2016.
ADDRESSES: Because paper mail in the Washington, DC area and at the OCC
is subject to delay, commenters are encouraged to submit comments by
email, if possible. Comments may be sent to: Legislative and Regulatory
Activities Division, Office of the Comptroller of the Currency,
Attention: 1557-0335, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to
(571) 465-4326 or by electronic mail to prainfo@occ.treas.gov. You may
personally inspect and photocopy comments at the OCC, 400 7th Street
SW., Washington, DC 20219. 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 hard of hearing,
TTY, (202) 649-5597. Upon arrival, visitors will be required to present
valid government-issued photo identification and to submit to security
screening in order to inspect and photocopy comments.
All 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, 1557-0335, U.S. Office of Management and Budget, 725 17th
Street NW., #10235, Washington, DC 20503 or by email to: oira
submission@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490 or, for persons who are deaf or hard of
hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities
Division, Office of the Comptroller of the Currency, 400 7th Street
SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is requesting that OMB extend its
approval of the following information collection.
In connection with issuance of the interim final rule entitled
``Margin and Capital Requirements for Covered Swap Entities,'' \1\ OMB
provided a six-month approval for this information collection. The OCC
is proposing to extend OMB approval of the collection for the standard
three years.
---------------------------------------------------------------------------
\1\ 80 FR 74915 (November 30, 2015).
---------------------------------------------------------------------------
Title: Margin and Capital Requirements for Covered Swap Entities:
Exemptions.
OMB Control No.: 1557-0335.
Description: The OCC issued an interim final rule required by the
Terrorism Risk Insurance Program Reauthorization Act of 2015
(TRIPRA).\2\ Title III of TRIPRA, the ``Business Risk Mitigation and
Price Stabilization Act of 2015,'' amends the statutory provisions
added by the Dodd-Frank Act relating to margin requirements for non-
cleared swaps and non-cleared security-based swaps. Section 302 of
TRIPRA amends sections 731 and 764 of the Dodd-Frank Act to provide
that the initial and variation margin requirements do not apply to
certain transactions with specified counterparties that qualify for an
exemption or exception from clearing. Non-cleared swaps and non-cleared
security-based swaps that are exempt under section 302 of TRIPRA will
not be subject to the Agencies' \3\ rules implementing margin
requirements.\4\ The effect of the interim final rule is to augment
provisions of the final rule published by the Agencies in November 2015
\5\ that allow swap entities to collect no initial or variation margin
from certain ``other counterparties'' like commercial end-users with a
provision that grants an exception from the margin requirements for
certain swaps with these and certain additional counterparties.
---------------------------------------------------------------------------
\2\ Public Law 114-1, 129 Stat. 3 (2015).
\3\ The Agencies are the Office of the Comptroller of the
Currency, the Board of Governors of the Federal Reserve System, the
Federal Deposit Insurance Corporation, the Farm Credit
Administration, and the Federal Housing Finance Agency.
\4\ The interim final rule is a companion rule to a final rule
adopted to implement section 731 and 764 of the Dodd-Frank Act.
\5\ The final rule was issued on November 30, 2015 (80 FR
74840).
---------------------------------------------------------------------------
The reporting requirements in the interim final rule are found in
12 CFR 45.1(d), which refers to other statutory provisions that set
forth conditions for an exemption from clearing. Section 45.1(d)(1)
provides an exemption for non-cleared swaps if one of the
counterparties to the swap is not a financial entity, is using swaps to
hedge or mitigate commercial risk, and notifies the Commodity Futures
Trading Commission of how it generally meets its financial obligations
associated with entering into non-cleared swaps. Section 45.1(d)(2)
provides an exemption for security-based swaps if the counterparty
notifies the Securities and Exchange Commission of how it generally
meets its financial obligations associated with entering into non-
cleared security-based swaps.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals; Businesses or other for-profit.
Estimated Number of Respondents: 20.
Estimated Total Annual Burden: 20,000.
On April 19, 2016, the OCC issued a notice for 60 days of comment
concerning the collection, 81 FR 23082. 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 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 25, 2016.
Karen Solomon,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2016-17981 Filed 7-28-16; 8:45 am]
BILLING CODE 4810-33-P
