Agency Information Collection Activities: Information Collection Renewal; Comment Request; Consumer Protections for Depository Institution Sales of Insurance, 11274-11275 [2013-03503]

Download as PDF 11274 Federal Register / Vol. 78, No. 32 / Friday, February 15, 2013 / Notices Clearance Officers, (202) 649–5490, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Suite 3E–218, Mailstop 9W–11, Washington, DC 20219. SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501–3520), Federal agencies must obtain approval from the Office of Management and Budget (OMB) for each collection of information they conduct or sponsor. ‘‘Collection of information’’ is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency requests or requirements that members of the public submit reports, keep records, or provide information to a third party. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) requires Federal agencies to provide a 60-day notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, before submitting the collection to OMB for approval. To comply with this requirement, the OCC is publishing notice of the proposed collection of information set forth in this document. The OCC is proposing to extend OMB approval of the following information collection: Title of Information Collection: Funding and Liquidity Risk Management. OMB Control No.: 1557–0244. Type of Review: Extension, without revision, of a currently approved collection. Description: The Interagency Policy Statement on Funding and Liquidity Risk Management 1 (Policy Statement) summarizes the principles of sound liquidity risk management that the agencies have issued in the past 2 and, where appropriate, harmonizes these principles with the international statement issued by the Basel Committee on Banking Supervision titled ‘‘Principles for Sound Liquidity 1 75 FR 13656 (Mar. 22, 2010). national banks and Federal savings associations, see the Comptroller’s Handbook on Liquidity. For state member banks and bank holding companies, see the Federal Reserve’s Commercial Bank Examination Manual (section 4020), Bank Holding Company Supervision Manual (section 4010), and Trading and Capital Markets Activities Manual (section 2030). For state non-member banks, see the FDIC’s Revised Examination Guidance for Liquidity and Funds Management (Trans. No. 2002–01) (Nov. 19, 2001), and Financial Institution Letter 84–2008, Liquidity Risk Management (August 2008). For Federally insured credit unions, see Letter to Credit Unions No. 02– CU–05, Examination Program Liquidity Questionnaire (March 2002). Also see Basel Committee on Banking Supervision, ‘‘Principles for Sound Liquidity Risk Management and Supervision’’ (September 2008). mstockstill on DSK4VPTVN1PROD with NOTICES 2 For VerDate Mar<15>2010 21:01 Feb 14, 2013 Jkt 229001 Risk Management and Supervision.’’ 3 The Policy Statement emphasizes supervisory expectations for all depository institutions including banks, savings associations, and credit unions. Section 14 of the Policy Statement provides that financial institutions should consider liquidity costs, benefits, and risks in strategic planning and budgeting processes. Significant business activities should be evaluated for liquidity risk exposure as well as profitability. More complex and sophisticated financial institutions should incorporate liquidity costs, benefits, and risks in the internal product pricing, performance measurement, and new product approval process for all material business lines, products, and activities. Incorporating the cost of liquidity into these functions should align the risktaking incentives of individual business lines with the liquidity risk exposure their activities create for the institution as a whole. The quantification and attribution of liquidity risks should be explicit and transparent at the line management level, and should include consideration of how liquidity would be affected under stressed conditions. Section 20 of the Policy Statement requires that liquidity risk reports provide aggregate information with sufficient supporting detail to enable management to assess the sensitivity of the institution to changes in market conditions, its own financial performance, and other important risk factors. Institutions also should report on the use of and availability of government support, such as lending and guarantee programs, and implications on liquidity positions, particularly since these programs are generally temporary or reserved as a source for contingent funding. Affected Public: Businesses or other for-profit. Estimated Burden: The OCC estimates the burden of this collection of information on national banks and Federal savings associations as follows: Estimated Number of Respondents: 1,833 total (13 large (over $100 billion in assets), 47 mid-size ($10–$100 billion), 1,773 small (less than $10 billion). Estimated Burden under Section 14: 360 hours per large respondent, 120 hours per mid-size respondent, and 40 hours per small respondent. 3 Basel Committee on Banking Supervision, ‘‘Principles for Sound Liquidity Risk Management and Supervision,’’ September 2008. See www.bis.org/publ/bcbs144.htm. Federally insured credit unions are not directly referenced in the principles issued by the Basel Committee. PO 00000 Frm 00142 Fmt 4703 Sfmt 4703 Estimated Burden under Section 20: 2 hours per month. Total Estimated Burden Hours: 125,232 hours. Comments: Comments submitted in response to this notice will be summarized and included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the information collections are 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 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 the services necessary to provide the required information. Dated: February 8, 2013. Michele Meyer, Assistant Director, Legislative and Regulatory Activities Division. [FR Doc. 2013–03502 Filed 2–14–13; 8:45 am] BILLING CODE P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Comment Request; Consumer Protections for Depository Institution Sales of Insurance 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. Under the Paperwork Reduction Act of 1995 (PRA), Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information and to SUMMARY: E:\FR\FM\15FEN1.SGM 15FEN1 mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 78, No. 32 / Friday, February 15, 2013 / Notices allow 60 days for public comment in response to the notice. 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 valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning renewal of its information collection titled, ‘‘Consumer Protections for Depository Institution Sales of Insurance.’’ DATES: Comments must be received by April 16, 2013. 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: 1557–0220, 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 regs.comments@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. 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 enclose any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. FOR FURTHER INFORMATION CONTACT: You may request additional information or a copy of the collection from Johnny Vilela or Mary H. Gottlieb, OCC Clearance Officers, (202) 649–5490, 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: Under the PRA (44 U.S.C. 3501–3520), Federal agencies must obtain approval from the Office of Management and Budget (OMB) for each collection of information they conduct or sponsor. ‘‘Collection of information’’ is defined in 44 U.S.C. 3502(3) and 5 CFR VerDate Mar<15>2010 19:09 Feb 14, 2013 Jkt 229001 1320.3(c) to include agency requests or requirements that members of the public submit reports, keep records, or provide information to a third party. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) requires Federal agencies to provide a 60-day notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, before submitting the collection to OMB for approval. To comply with this requirement, the OCC is publishing notice of the proposed collection of information set forth in this document. The OCC is proposing to extend OMB approval of the following information collection: Title: Consumer Protections for Depository Institution Sales of Insurance. OMB Control No.: 1557–0220. Type of Review: Extension, without revision, of a currently approved collection. Description: This information collection requires national banks, Federal savings associations, and other covered persons involved in insurance sales, as defined in 12 CFR 14.20(f) and 136.20, to make two separate disclosures to consumers. Under 12 CFR 14.40 and 136.40, a national bank, Federal savings association, or other covered person must prepare and provide, orally and in writing: (1) Certain insurance disclosures to consumers before the completion of the initial sale of an insurance product or annuity to the consumer; and (2) certain credit disclosures at the time of the consumer’s application for the extension of credit (if insurance products or annuities are sold, solicited, advertised, or offered in connection with an extension of credit). Affected Public: Businesses or other for-profit. Estimated Burden: The OCC estimates the burden of this collection of information as follows: Estimated Number of Respondents: 812. Estimated Number of Responses: 812. Total Estimated Burden Hours: 4,060 hours. Comments: Comments submitted in response to this notice will be summarized and 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 OCC, including whether the information has practical utility; PO 00000 Frm 00143 Fmt 4703 Sfmt 4703 11275 (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 the services necessary to provide the required information. Dated: February 8, 2013. Michele Meyer, Assistant Director, Legislative and Regulatory Activities Division. [FR Doc. 2013–03503 Filed 2–14–13; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Designation of One (1) Individual and Four (4) Entities Pursuant to Executive Order 13628 of October 9, 2012 Office of Foreign Assets Control, Treasury. ACTION: Notice. AGENCY: The Treasury Department’s Office of Foreign Assets Control (‘‘OFAC’’) is publishing the name of one (1) individual and four (4) entities designated on February 6, 2013, as persons whose property and interests in property are blocked pursuant to Executive Order 13628 of October 9, 2012, ‘‘Authorizing the Implementation of Certain Sanctions Set Forth in the Iran Threat Reduction and Syria Human Rights Act of 2012 and Additional Sanctions With Respect to Iran.’’ DATES: The designation by the Director of OFAC of the one (1) individual and four (4) entities identified in this notice, pursuant to Executive Order 13628 of October 9, 2012, is effective February 6, 2013. FOR FURTHER INFORMATION CONTACT: Assistant Director, Sanctions Compliance and Evaluation, Office of Foreign Assets Control, Department of the Treasury, Washington, DC 20220, tel.: 202/622–2490. SUPPLEMENTARY INFORMATION: SUMMARY: Electronic and Facsimile Availability This document and additional information concerning OFAC are available from OFAC’s Web site (www.treasury.gov/ofac) or via facsimile E:\FR\FM\15FEN1.SGM 15FEN1

Agencies

[Federal Register Volume 78, Number 32 (Friday, February 15, 2013)]
[Notices]
[Pages 11274-11275]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-03503]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Consumer Protections for Depository 
Institution Sales of Insurance

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.
    Under the Paperwork Reduction Act of 1995 (PRA), Federal agencies 
are required to publish notice in the Federal Register concerning each 
proposed collection of information, including each proposed extension 
of an existing collection of information and to

[[Page 11275]]

allow 60 days for public comment in response to the notice.
    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 valid Office 
of Management and Budget (OMB) control number.
    The OCC is soliciting comment concerning renewal of its information 
collection titled, ``Consumer Protections for Depository Institution 
Sales of Insurance.''

DATES: Comments must be received by April 16, 2013.

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: 1557-0220, 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 
regs.comments@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. 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 enclose any information in your comment or 
supporting materials that you consider confidential or inappropriate 
for public disclosure.

FOR FURTHER INFORMATION CONTACT: You may request additional information 
or a copy of the collection from Johnny Vilela or Mary H. Gottlieb, OCC 
Clearance Officers, (202) 649-5490, 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: Under the PRA (44 U.S.C. 3501-3520), Federal 
agencies must obtain approval from the Office of Management and Budget 
(OMB) for each collection of information they conduct or sponsor. 
``Collection of information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 
1320.3(c) to include agency requests or requirements that members of 
the public submit reports, keep records, or provide information to a 
third party. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) 
requires Federal agencies to provide a 60-day notice in the Federal 
Register concerning each proposed collection of information, including 
each proposed extension of an existing collection of information, 
before submitting the collection to OMB for approval. To comply with 
this requirement, the OCC is publishing notice of the proposed 
collection of information set forth in this document.
    The OCC is proposing to extend OMB approval of the following 
information collection:
    Title: Consumer Protections for Depository Institution Sales of 
Insurance.
    OMB Control No.: 1557-0220.
    Type of Review: Extension, without revision, of a currently 
approved collection.
    Description: This information collection requires national banks, 
Federal savings associations, and other covered persons involved in 
insurance sales, as defined in 12 CFR 14.20(f) and 136.20, to make two 
separate disclosures to consumers. Under 12 CFR 14.40 and 136.40, a 
national bank, Federal savings association, or other covered person 
must prepare and provide, orally and in writing: (1) Certain insurance 
disclosures to consumers before the completion of the initial sale of 
an insurance product or annuity to the consumer; and (2) certain credit 
disclosures at the time of the consumer's application for the extension 
of credit (if insurance products or annuities are sold, solicited, 
advertised, or offered in connection with an extension of credit).
    Affected Public: Businesses or other for-profit.
    Estimated Burden: The OCC estimates the burden of this collection 
of information as follows:
    Estimated Number of Respondents: 812.
    Estimated Number of Responses: 812.
    Total Estimated Burden Hours: 4,060 hours.
    Comments: Comments submitted in response to this notice will be 
summarized and 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 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 the services necessary to provide the 
required information.

    Dated: February 8, 2013.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2013-03503 Filed 2-14-13; 8:45 am]
BILLING CODE 4810-33-P