Agency Information Collection Activities: Submission for OMB Review; Comment Request, 68025-68026 [2010-27901]

Agencies

• Office of the Comptroller of the Currency
• DEPARTMENT OF THE TREASURY
• Comptroller of the Currency

[Federal Register Volume 75, Number 213 (Thursday, November 4, 2010)]
[Notices]
[Pages 68025-68026]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-27901]


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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 comment.

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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 comment on a continuing 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 Office of Management 
and Budget (OMB) control number. The OCC is soliciting comment 
concerning an information collection titled, ``Securities Offering 
Disclosure Rules.'' The OCC is also giving notice that it has sent the 
collection to OMB for review.

DATES: You should submit written comments by December 6, 2010.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Mail Stop 2-3, Attention 1557-0120, 250 E Street, SW., 
Washington, DC 20219. In addition, comments may be sent by fax 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, please send a copy of your comments to OCC Desk 
Officer, 1557-0120, by mail to 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, OCC Clearance 
Officer, (202) 874-5090, Legislative and Regulatory Activities 
Division, Office of the Comptroller of the Currency, 250 E Street, NW., 
Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval 
of the following information collection:
    Title: Securities Offering Disclosure Rules.
    OMB Control No.: 1557-0120.
    Affected Public: Business or other for-profit.
    Type of Review: Regular.
    Abstract: This information collection covers an existing regulation 
and involves no change to the regulation or to the information 
collection. The OCC requests only that OMB extend its approval of the 
information collection.
    The requirements in 12 CFR part 16 enable the OCC to perform its 
responsibilities relating to offerings of securities by national banks 
by providing the investing public with facts about the condition of the 
bank, the reasons for raising new capital, and the terms of the 
offering. Part 16 generally requires national banks to conform to 
Securities and Exchange Commission Rules.
    The collections of information in part 16 are as follows:
    Form for Registration. A national bank offering or selling its own 
securities to the public is required to make such offer or sale through 
the use of a prospectus that has been filed with the OCC as part of a 
registration statement.
    Abbreviated Form for Registration. A national bank that is a 
subsidiary of a company that has securities registered under the 
Securities Exchange Act of 1934 (Exchange Act) may offer and sell 
securities (nonconvertible debt) only to accredited investors upon 
meeting conditions in 12 CFR 16.6 and by providing an abbreviated 
information statement in a form for registration.
    Small Issues. A national bank may offer and sell securities 
publicly in a limited dollar amount by using an Offering Statement 
meeting the requirements of SEC's Regulation A (17 CFR 230.251 et 
seq.).
    Regulation D. A national bank may offer or sell its own securities 
in a private placement to accredited or sophisticated investors in 
compliance with 12 CFR 16.7.
    Form 144. A national bank must file Form 144, which contains 
information on resales of securities originally sold through the 
private placement exemption, only in certain circumstances.

[[Page 68026]]

    These information collection requirements ensure bank compliance 
with applicable Federal law, promote bank safety and soundness, provide 
protections for banks, and further public policy interests.
    Estimated Number of Respondents: 48.
    Estimated Number of Responses: 48.
    Estimated Total Annual Burden: 450 hours.
    The information collection was issued for 60 days of comment on 
August 17, 2010. 75 FR 50800. 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: October 29, 2010.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency.
[FR Doc. 2010-27901 Filed 11-3-10; 8:45 am]
BILLING CODE 4810-33-P