Agency Information Collection Activities; Proposed Information Collection; Comment Request: Interagency Guidance on Asset Securitization Activities, 24811-24812 [2013-09864]

Download as PDF Federal Register / Vol. 78, No. 81 / Friday, April 26, 2013 / Notices erowe on DSK2VPTVN1PROD with NOTICES 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 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 2 For 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). 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. VerDate Mar<15>2010 14:46 Apr 25, 2013 Jkt 229001 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. Estimated Burden under Section 20: 2 hours per month. Total Estimated Burden Hours: 125,232 hours. Comments: The OCC issued a 60-day Federal Register notice on February 15, 2013. 78 FR 11273. No comments were received. Comments continue to be solicited 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: April 19, 2013. Michele Meyer, Assistant Director, Legislative and Regulatory Activities Division. [FR Doc. 2013–09862 Filed 4–25–13; 8:45 am] BILLING CODE 4810–33–P PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 24811 DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities; Proposed Information Collection; Comment Request: Interagency Guidance on Asset Securitization Activities 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. 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 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, ‘‘Interagency Guidance on Asset Securitization Activities.’’ DATES: Comments must be submitted on or before June 25, 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: 1557–0217, 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 SUMMARY: E:\FR\FM\26APN1.SGM 26APN1 erowe on DSK2VPTVN1PROD with NOTICES 24812 Federal Register / Vol. 78, No. 81 / Friday, April 26, 2013 / Notices 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 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. Title: Interagency Guidance on Asset Securitization Activities OMB Control No.: 1557–0217 Type of Review: Extension, with revision, of a currently approved collection. Description: This information collection applies to institutions engaged in asset securitization activities and provides that any institution engaged in these activities should maintain a written asset securitization policy, document fair value of retained interests, and maintain a management information system to monitor asset securitization activities. Institution management uses the information collected to ensure the safe and sound operation of the institution’s asset securitization activities. The OCC uses the information to evaluate the quality of an institution’s risk management practices. Affected Public: Businesses or other for-profit. VerDate Mar<15>2010 14:46 Apr 25, 2013 Jkt 229001 Burden Estimates: Estimated Number of Respondents: 33 national banks; 15 Federal savings associations. Estimated Burden per Respondent: 16.2. Estimated Annual Burden: 778 hours. Frequency of Response: On occasion. The 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 services to provide information. Dated: April 19, 2013. Michele Meyer, Assistant Director, Legislative and Regulatory Activities Division. [FR Doc. 2013–09864 Filed 4–25–13; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection: Comment Request for Form 8833 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. 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 take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 8833, Treaty-Based Return Position SUMMARY: PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 Disclosure Under Section 6114 or 7701(b). Written comments should be received on or before June 25, 2013 to be assured of consideration. ADDRESSES: Direct all written comments to Yvette Lawrence Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Kerry Dennis at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or at (202) 927– 9368, or through the Internet at Kerry.Dennis@irs.gov. DATES: SUPPLEMENTARY INFORMATION: Title: Treaty-Based Return Position Disclosure Under Section 6114 or 7701(b). OMB Number: 1545–1354. Form Number: 8833. Abstract: Form 8833 is used by taxpayers that are required by section 6114 to disclose a treaty-based return position to disclose that position. The form may also be used to make the treaty-based position disclosure required by regulations section 301.7701(b)–7(b) for ‘‘dual resident’’ taxpayers. Current Actions: There are no changes being made to this form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Private Sector: Businesses or other for-profits. Estimated Number of Respondents: 4,100. Estimated Time per Respondent: 6 hours, 16 minutes. Estimated Total Annual Burden Hours: 25,740. The following paragraph applies to all of the collections of information covered by this notice: An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103. Request for Comments: Comments submitted in response to this notice will be summarized and/or 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 E:\FR\FM\26APN1.SGM 26APN1

Agencies

[Federal Register Volume 78, Number 81 (Friday, April 26, 2013)]
[Notices]
[Pages 24811-24812]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-09864]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities; Proposed Information 
Collection; Comment Request: Interagency Guidance on Asset 
Securitization Activities

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.
    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 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, ``Interagency Guidance on Asset Securitization 
Activities.''

DATES: Comments must be submitted on or before June 25, 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: 1557-0217, 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

[[Page 24812]]

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 
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.
    Title: Interagency Guidance on Asset Securitization Activities
    OMB Control No.: 1557-0217
    Type of Review: Extension, with revision, of a currently approved 
collection.
    Description: This information collection applies to institutions 
engaged in asset securitization activities and provides that any 
institution engaged in these activities should maintain a written asset 
securitization policy, document fair value of retained interests, and 
maintain a management information system to monitor asset 
securitization activities. Institution management uses the information 
collected to ensure the safe and sound operation of the institution's 
asset securitization activities. The OCC uses the information to 
evaluate the quality of an institution's risk management practices.
    Affected Public: Businesses or other for-profit.
    Burden Estimates:
     Estimated Number of Respondents: 33 national banks; 15 Federal 
savings associations.
     Estimated Burden per Respondent: 16.2.
     Estimated Annual Burden: 778 hours.
     Frequency of Response: On occasion.
    The 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 services to provide information.

    Dated: April 19, 2013.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2013-09864 Filed 4-25-13; 8:45 am]
BILLING CODE 4810-33-P
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