Agency Information Collection Activities: Submission for OMB Review; Comment Request, 59799 [2010-24282]

Download as PDF Federal Register / Vol. 75, No. 187 / Tuesday, September 28, 2010 / Notices Office of the Comptroller of the Currency Agency Information Collection Activities: Submission for OMB Review; Comment Request Office of the Comptroller of the Currency (OCC), Treasury. ACTION: Notice and request for comments. AGENCY: 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 proposed information collection, as required by the Paperwork Reduction Act of 1995. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number. Currently, the OCC is soliciting comments concerning an information collection titled ‘‘Guidance on Sound Incentive Compensation Practices.’’ The OCC also gives notice that it has sent the collection to OMB for review. DATES: Written comments should be submitted by October 28, 2010. ADDRESSES: Communications Division, Office of the Comptroller of the Currency, Mailstop 2–3, Attention 1557–0245, 250 E Street, SW., Washington, DC 20219. In addition, comments may be sent by facsimile transmission to (202) 874–5274, or by electronic mail to regs.comments@occ.treas.gov. You may personally inspect and photocopy comments at the OCC, 250 E 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) 874–4700. 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. Additionally, you should send a copy of your comments by mail to: OCC Desk Officer, 1557–0245, U.S. Office of Management and Budget, 725 17th Street, NW., Washington, DC 20503, or by fax to (202) 395–6974. FOR FURTHER INFORMATION CONTACT: You can request additional information or a copy of the collection from Mary H. Gottlieb, (202) 874–5090, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219. srobinson on DSKHWCL6B1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 15:22 Sep 27, 2010 Jkt 220001 The OCC is requesting regular clearance of a collection for which it received emergency approval.1 Title: Guidance on Sound Incentive Compensation Policies. OMB Number: 1557–0245. Abstract: Under the guidance, national banks are required to: (i) Have policies and procedures that identify and describe the role(s) of the personnel and units authorized to be involved in incentive compensation arrangements, identify the source of significant riskrelated inputs, establish appropriate controls governing these inputs to help ensure their integrity, and identify the individual(s) and unit(s) whose approval is necessary for the establishment or modification of incentive compensation arrangements; (ii) create and maintain sufficient documentation to permit an audit of the organization’s processes for incentive compensation arrangements; (iii) have any material exceptions or adjustments to the incentive compensation arrangements established for senior executives approved and documented by its board of directors; and (iv) have its board of directors receive and review, on an annual or more frequent basis, an assessment by management of the effectiveness of the design and operation of the organization’s incentive compensation system in providing risktaking incentives that are consistent with the organization’s safety and soundness. Type of Review: Regular. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 1,033 large banks; 617 small banks. Estimated Burden per Respondent: 480 hours for large banks to modify policies and procedures to monitor incentive compensation. 80 hours for small banks to establish or modify policies and procedures to monitor incentive compensation. 40 hours annually for all banks to maintain policies and procedures to monitor incentive compensation arrangements. Frequency of Response: Annually. Total Annual Burden: 611,200 hours. A 60-Day Federal Register notice was issued on July 22, 2010 (75 FR 42823). 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 OCCs estimate of the information collection burden; SUPPLEMENTARY INFORMATION: DEPARTMENT OF THE TREASURY 1 75 PO 00000 FR 36395 (June 25, 2010). Frm 00121 Fmt 4703 Sfmt 4703 59799 (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 startup costs and costs of operation, maintenance, and purchase of services to provide information. Dated: September 22, 2010. Michele Meyer, Assistant Director, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency. [FR Doc. 2010–24282 Filed 9–27–10; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Office of Thrift Supervision Purchase of Branch Office(s) and/or Transfer of Assets/Liabilities Office of Thrift Supervision (OTS), Treasury. ACTION: Notice and request for comment. AGENCY: 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 comment on proposed and continuing information collections, as required by the Paperwork Reduction Act of 1995, 44 U.S.C. 3507. The Office of Thrift Supervision within the Department of the Treasury will submit the proposed information collection requirement described below to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. Today, OTS is soliciting public comments on its proposal to extend this information collection. DATES: Submit written comments on or before November 29, 2010. ADDRESSES: Send comments, referring to the collection by title of the proposal or by OMB approval number, to Information Collection Comments, Chief Counsel’s Office, Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552; send a facsimile transmission to (202) 906–6518; or send an e-mail to infocollection.comments@ots.treas.gov. OTS will post comments and the related index on the OTS Internet Site at http: //www.ots.treas.gov. In addition, interested persons may inspect comments at the Public Reading Room, 1700 G Street, NW,. by appointment. To make an appointment, call (202) 906– SUMMARY: E:\FR\FM\28SEN1.SGM 28SEN1

Agencies

[Federal Register Volume 75, Number 187 (Tuesday, September 28, 2010)]
[Notices]
[Page 59799]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-24282]



[[Page 59799]]

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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comments.

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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 proposed information 
collection, as required by the Paperwork Reduction Act of 1995. An 
agency may not conduct or sponsor, and a respondent is not required to 
respond to, an information collection unless it displays a currently 
valid OMB control number. Currently, the OCC is soliciting comments 
concerning an information collection titled ``Guidance on Sound 
Incentive Compensation Practices.'' The OCC also gives notice that it 
has sent the collection to OMB for review.

DATES: Written comments should be submitted by October 28, 2010.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Mailstop 2-3, Attention 1557-0245, 250 E Street, SW., 
Washington, DC 20219. In addition, comments may be sent by facsimile 
transmission to (202) 874-5274, or by electronic mail to 
regs.comments@occ.treas.gov. You may personally inspect and photocopy 
comments at the OCC, 250 E 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) 874-4700. 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.
    Additionally, you should send a copy of your comments by mail to: 
OCC Desk Officer, 1557-0245, U.S. Office of Management and Budget, 725 
17th Street, NW., Washington, DC 20503, or by fax to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Mary H. Gottlieb, (202) 874-5090, 
Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is requesting regular clearance of a 
collection for which it received emergency approval.\1\
---------------------------------------------------------------------------

    \1\ 75 FR 36395 (June 25, 2010).
---------------------------------------------------------------------------

    Title: Guidance on Sound Incentive Compensation Policies.
    OMB Number: 1557-0245.
    Abstract: Under the guidance, national banks are required to: (i) 
Have policies and procedures that identify and describe the role(s) of 
the personnel and units authorized to be involved in incentive 
compensation arrangements, identify the source of significant risk-
related inputs, establish appropriate controls governing these inputs 
to help ensure their integrity, and identify the individual(s) and 
unit(s) whose approval is necessary for the establishment or 
modification of incentive compensation arrangements; (ii) create and 
maintain sufficient documentation to permit an audit of the 
organization's processes for incentive compensation arrangements; (iii) 
have any material exceptions or adjustments to the incentive 
compensation arrangements established for senior executives approved 
and documented by its board of directors; and (iv) have its board of 
directors receive and review, on an annual or more frequent basis, an 
assessment by management of the effectiveness of the design and 
operation of the organization's incentive compensation system in 
providing risk-taking incentives that are consistent with the 
organization's safety and soundness.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 1,033 large banks; 617 small 
banks.
    Estimated Burden per Respondent: 480 hours for large banks to 
modify policies and procedures to monitor incentive compensation. 80 
hours for small banks to establish or modify policies and procedures to 
monitor incentive compensation. 40 hours annually for all banks to 
maintain policies and procedures to monitor incentive compensation 
arrangements.
    Frequency of Response: Annually.
    Total Annual Burden: 611,200 hours.
    A 60-Day Federal Register notice was issued on July 22, 2010 (75 FR 
42823). 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 OCCs 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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: September 22, 2010.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency.
[FR Doc. 2010-24282 Filed 9-27-10; 8:45 am]
BILLING CODE 4810-33-P