Agency Information Collection Activities: Submission for OMB Review; Comment Request, 56500-56501 [2011-23285]

Download as PDF 56500 Federal Register / Vol. 76, No. 177 / Tuesday, September 13, 2011 / Notices comments by calling (202) 622–0990. You should only submit information that you wish to make publicly available. FOR FURTHER INFORMATION CONTACT: mstockstill on DSK4VPTVN1PROD with NOTICES Information about OFEFA can be found at http://www.ustreas.gov/offices/ domestic-finance/financial-institution/ fin-education. You may also contact Louisa Quittman, Director of Community Programs, U.S. Department of the Treasury, 1500 Pennsylvania Avenue, Washington, DC 20220 at (202) 622–5770 or ofe@treasury.gov. SUPPLEMENTARY INFORMATION: Section 1204 of Title XII of the Act authorizes the Secretary of the Treasury to establish a multi-year program of grants, cooperative agreements, financial agency agreements, and similar contracts or undertakings to promote initiatives designed to: (1) Enable lowand moderate-income individuals to establish one or more accounts in a federally insured depository institution that are appropriate to meet the financial needs of such individuals and (2) improve access to the provision of such accounts, on reasonable terms, for low- and moderate-income individuals. Section 1204 also authorizes, subject to regulations prescribed by Treasury, recipients of such grants or cooperative agreements to provide low- and moderate-income individuals with small-dollar value loans and financial education and counseling relating to conducting transactions in and managing accounts.1 The Treasury expects to develop and implement activities to enable eligible entities to develop and provide account products and services that are appropriate and accessible for low- and moderate- income individuals who are not fully incorporated into the financial mainstream. OFEFA invites comments and suggestions on potential activities, particularly those activities that may not require additional appropriations. OFEFA is particularly interested in comments in the following areas: (1) Program Focus Section 1204(a) of the Act states that the Secretary is authorized to establish a multi-year program of grants, cooperative agreements, financial agency agreements, or similar contracts or undertakings to promote initiatives designed to: (1) Enable low- and moderate-income individuals to establish one or more accounts in a federally insured depository institution that are appropriate to meet the 1 12 U.S.C. 5623. VerDate Mar<15>2010 19:22 Sep 12, 2011 Jkt 223001 financial need of such individuals; and (2) improve access to the provision of accounts, on reasonable terms, for lowand moderate-income individuals. The Treasury welcomes comments on issues related to the purpose and intent of the section 1204 program, particularly with respect to the following questions: (a) What types of program initiatives should the Treasury promote to enable low- and moderate-income individuals to establish accounts in federally insured depository institutions? (b) How should the Treasury evaluate whether an account in a federally insured depository institution is ‘‘appropriate’’ to meet the financial needs of low- and moderate-income individuals? What account features and terms are ‘‘reasonable’’ to meet the financial needs of low- and moderateincome individuals in an appropriate manner? (c) What level of financial access should be the desired outcome of such initiatives? What other measures of success of the initiatives should be considered? (d) How can the Treasury enable, enhance and assist local, regional, and state start-up collaborations that incorporate low- and moderate- income individuals into the financial mainstream? How can existing collaborations be supported to expand or improve their financial access efforts? How could meaningful innovations be fostered by these collaborations? (e) How could the Treasury best encourage high-quality financial education and counseling relating to conducting transactions in and managing accounts? (f) What could be done to promote innovation within the development of sustainable financial services and products related to accounts? Are there opportunities for innovation in account products, services, delivery channels, or other areas that could be effectively addressed through the use of prizes, awards, and competitions? If so, what prizes or awards would be necessary to help promote account innovations? (2) General Comments The Treasury is interested in comments on how it can encourage activities that enable low- and moderate-income individuals to establish one or more accounts in a federally insured depository institution and to improve access to the provision of such accounts. Additionally, we are interested in comments regarding other ways (in addition to the provision of accounts in federally insured depository institutions) for the Treasury to consider helping individuals obtain access to PO 00000 Frm 00109 Fmt 4703 Sfmt 4703 accounts with appropriate consumer protections and federal deposit insurance. Lastly, we are interested in comments on what should be done to support innovative approaches to the delivery of financial education and counseling to increase the financial capability of individuals and families more broadly? Dated: August 30, 2011. Rebecca Ewing, Acting Executive Secretary. [FR Doc. 2011–23235 Filed 9–12–11; 8:45 am] BILLING CODE 4810–25–P DEPARTMENT OF THE TREASURY 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 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 take this opportunity 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 OMB control number. The OCC is soliciting comment concerning its information collection titled, ‘‘Fiduciary Activities.’’ DATES: You should submit written comments by October 13, 2011. ADDRESSES: Communications Division, Office of the Comptroller of the Currency, Mailstop 2–3, Attention: 1557–0140, 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 the 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 to OCC Desk Officer, 1557–0140, by mail to U.S. Office of SUMMARY: E:\FR\FM\13SEN1.SGM 13SEN1 mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 76, No. 177 / Tuesday, September 13, 2011 / Notices Management and Budget, 725 17th Street, NW., #10235, 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 Ira L. Mills or Mary H. Gottlieb, OCC Clearance Officers, (202) 874–6055 or (202) 874– 5090, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219. SUPPLEMENTARY INFORMATION: On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law, Public Law 111– 203, 124 Stat. 1376 (2010) (Dodd-Frank Act). As part of the comprehensive package of financial regulatory reform measures enacted, Title III of the DoddFrank Act transferred the powers, authorities, rights and duties of the Office of Thrift Supervision (OTS) to other banking agencies, including the OCC, on July 21, 2011. The Dodd-Frank Act also abolishes the OTS ninety days after the transfer date. As part of that transfer, the OCC has made a nonsubstantive change to this collection of information to merge OTS’s information collection regarding Fiduciary Activities (OMB Control Nos. 1550–0037; 1557– 0262) with this collection of information. OCC is now seeking a renewal for the merged collection. Title: Fiduciary Activities. OMB Control No.: 1557–0140 (which includes former OMB Control Nos. 1550–0037 and 1557–0262). Description: Pursuant to 12 U.S.C. 92a, the OCC regulates the fiduciary activities of national banks, including the administration of collective investment funds. Under 12 U.S.C. 1464(n), the OTS regulated the fiduciary activities of federal savings associations. 12 CFR parts 9 and 150 contain the regulations that national banks and federal savings associations (institutions), respectively must follow when conducting fiduciary activities. 12 CFR parts 9 and 150 require institutions with fiduciary powers to retain all fiduciary records relating to an account for a period of three years after termination of the account or of related litigation. They also require institutions to note results of fiduciary activities annually in the minutes of the board of directors. Both of these requirements are needed to ensure the safety and soundness in fiduciary activities. Additionally, to ensure that the OCC has current information on which institutions have fiduciary powers, parts 9 and 150 require institutions to file a VerDate Mar<15>2010 19:22 Sep 12, 2011 Jkt 223001 certified copy of a board resolution in order to surrender fiduciary powers. To ensure adequate disclosure of the operational aspects of collective investment funds, parts 9 and 150 require that an institution operate a collective investment fund pursuant to a written plan. The written plan is the basic operating document of a collective investment fund, and serves as the primary disclosure document to fund participants. As such, it is analogous to the prospectus prepared by a registered investment company pursuant to SEC requirements. It contains provisions as to the manner in which an institution will operate the fund and addresses such matters as investment powers and policies, terms, and conditions governing the admission and withdrawal of participants, the basis and method of valuation, and the basis upon which the fund may be terminated. The primary regulatory purpose of the plan is to define the operational parameters of a collective investment fund, not to solicit information. To ensure that information on the performance of a collective investment fund is available to current and prospective fund participants, parts 9 and 150 require an institution to prepare an annual financial report on each fund and to notify participants of its availability. The annual financial report for a collective investment fund is a basic disclosure document for fund participants. The requirement is analogous to that of registered investment companies under SEC supervision. The annual financial report contains, among other things, a list of fund investments with cost and market values of each; a statement showing purchases and sales since the previous report, with any profit or loss; income and disbursements for the year; and investments in default. Type of Review: Regular. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 605. Frequency of Response: On occasion. Estimated Total Annual Burden: 83,529 hours. On April 18, 2011, the OCC published notice of intent to renew this collection. 76 FR 21799. 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 agency, including whether the information has practical utility; PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 56501 (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 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: September 7, 2011. Michele Meyer, Assistant Director, Legislative and Regulatory Activities Division. [FR Doc. 2011–23285 Filed 9–12–11; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Privacy Act of 1974; Systems of Records Office of the Comptroller of the Currency, Treasury. ACTION: Notice of alterations to three Office of the Comptroller of the Currency Privacy Act systems of records. AGENCY: In accordance with the requirements of the Privacy Act of 1974, as amended, 5 U.S.C. 552a, the Department of the Treasury and the Office of the Comptroller of the Currency (OCC) give notice of alterations to the Privacy Act systems of records entitled ‘‘CC .210—Bank Securities Dealers System,’’ ‘‘CC .220— Section 914 Tracking System;’’ and ‘‘CC .600—Consumer Complaint and Inquiry Information System.’’ DATES: Effective Date: Comments must be received no later than October 13, 2011. The alterations to the systems of records will be effective October 24, 2011 unless the OCC receives comments that would result in a contrary determination. SUMMARY: FOR FURTHER INFORMATION CONTACT: Roger Mahach, Chief Information Security and Privacy Officer, (202) 649– 5830. 250 E Street, SW., Washington, DC 20219. SUPPLEMENTARY INFORMATION: Pursuant to section 313 of Title III of the Dodd Frank Wall Street Reform and Consumer Protection Act, Public Law 111–203– July 21, 2010 (the Act), the Office of Thrift Supervision (OTS) was abolished. E:\FR\FM\13SEN1.SGM 13SEN1

Agencies

[Federal Register Volume 76, Number 177 (Tuesday, September 13, 2011)]
[Notices]
[Pages 56500-56501]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-23285]


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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.

-----------------------------------------------------------------------

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. 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. The OCC is soliciting comment 
concerning its information collection titled, ``Fiduciary Activities.''

DATES: You should submit written comments by October 13, 2011.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Mailstop 2-3, Attention: 1557-0140, 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 the 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 to OCC Desk 
Officer, 1557-0140, by mail to U.S. Office of

[[Page 56501]]

Management and Budget, 725 17th Street, NW., 10235, 
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 Ira L. Mills or Mary H. Gottlieb, OCC 
Clearance Officers, (202) 874-6055 or (202) 874-5090, Legislative and 
Regulatory Activities Division, Office of the Comptroller of the 
Currency, 250 E Street, SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: On July 21, 2010, the Dodd-Frank Wall Street 
Reform and Consumer Protection Act was signed into law, Public Law 111-
203, 124 Stat. 1376 (2010) (Dodd-Frank Act). As part of the 
comprehensive package of financial regulatory reform measures enacted, 
Title III of the Dodd-Frank Act transferred the powers, authorities, 
rights and duties of the Office of Thrift Supervision (OTS) to other 
banking agencies, including the OCC, on July 21, 2011. The Dodd-Frank 
Act also abolishes the OTS ninety days after the transfer date. As part 
of that transfer, the OCC has made a non-substantive change to this 
collection of information to merge OTS's information collection 
regarding Fiduciary Activities (OMB Control Nos. 1550-0037; 1557-0262) 
with this collection of information. OCC is now seeking a renewal for 
the merged collection.
    Title: Fiduciary Activities.
    OMB Control No.: 1557-0140 (which includes former OMB Control Nos. 
1550-0037 and 1557-0262).
    Description:
    Pursuant to 12 U.S.C. 92a, the OCC regulates the fiduciary 
activities of national banks, including the administration of 
collective investment funds. Under 12 U.S.C. 1464(n), the OTS regulated 
the fiduciary activities of federal savings associations. 12 CFR parts 
9 and 150 contain the regulations that national banks and federal 
savings associations (institutions), respectively must follow when 
conducting fiduciary activities.
    12 CFR parts 9 and 150 require institutions with fiduciary powers 
to retain all fiduciary records relating to an account for a period of 
three years after termination of the account or of related litigation. 
They also require institutions to note results of fiduciary activities 
annually in the minutes of the board of directors. Both of these 
requirements are needed to ensure the safety and soundness in fiduciary 
activities. Additionally, to ensure that the OCC has current 
information on which institutions have fiduciary powers, parts 9 and 
150 require institutions to file a certified copy of a board resolution 
in order to surrender fiduciary powers.
    To ensure adequate disclosure of the operational aspects of 
collective investment funds, parts 9 and 150 require that an 
institution operate a collective investment fund pursuant to a written 
plan. The written plan is the basic operating document of a collective 
investment fund, and serves as the primary disclosure document to fund 
participants. As such, it is analogous to the prospectus prepared by a 
registered investment company pursuant to SEC requirements. It contains 
provisions as to the manner in which an institution will operate the 
fund and addresses such matters as investment powers and policies, 
terms, and conditions governing the admission and withdrawal of 
participants, the basis and method of valuation, and the basis upon 
which the fund may be terminated. The primary regulatory purpose of the 
plan is to define the operational parameters of a collective investment 
fund, not to solicit information.
    To ensure that information on the performance of a collective 
investment fund is available to current and prospective fund 
participants, parts 9 and 150 require an institution to prepare an 
annual financial report on each fund and to notify participants of its 
availability. The annual financial report for a collective investment 
fund is a basic disclosure document for fund participants. The 
requirement is analogous to that of registered investment companies 
under SEC supervision. The annual financial report contains, among 
other things, a list of fund investments with cost and market values of 
each; a statement showing purchases and sales since the previous 
report, with any profit or loss; income and disbursements for the year; 
and investments in default.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 605.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 83,529 hours.
    On April 18, 2011, the OCC published notice of intent to renew this 
collection. 76 FR 21799. 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 agency, including whether 
the information has 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 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: September 7, 2011.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2011-23285 Filed 9-12-11; 8:45 am]
BILLING CODE 4810-33-P