Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Subordinated Debt, 43822-43823 [2014-17717]
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Federal Register / Vol. 79, No. 144 / Monday, July 28, 2014 / Notices
Internal Revenue Code sections 4101
(Fuel Taxes), 4222 (Retailers and
Manufacturers Excise Taxes), 4682
(Ozone-depleting Chemicals Tax), and
the regulations. Form 637, Application
for Registration (For Certain Excise Tax
Activities) is used to apply for excise tax
registration for activities under sections
4101, 4222, and 4682. Common
activities for which persons are
registered include that of a refiner,
terminal operator, position holder,
throughputter, ultimate vendor, first
retail seller of certain heavy vehicles,
and manufacturer of sport fishing
equipment. The information will be
used to make an informed decision on
whether the applicant/registrant
qualifies for registration.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
30,499.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2014–17682 Filed 7–25–14; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
July 22, 2014.
Alcohol and Tobacco Tax and Trade
Bureau (TTB)
OMB Number: 1513–0101.
Type of Review: Extension without
change of a currently approved
collection.
Title: Marks and Notices on Packages
of Tobacco Products, TTB REC 5210/13.
Abstract: TTB requires that tobacco
products be identified by information
on the packages and, in some cases,
shipping containers of tobacco products.
TTB uses this information to ensure that
the tax is paid on tobacco products and
that products removed without payment
of tax for export are easily identified if
diverted into the domestic market.
Affected Public: Private sector:
Businesses or other for-profits.
Estimated Annual Burden Hours: 1.
OMB Number: 1513–0121.
Type of Review: Extension without
change of a currently approved
collection.
Title: Labeling of Major Food
Allergens.
Abstract: The collection of
information involves voluntary labeling
of major food allergens used in the
production of alcohol beverages and
also involves petitions for exemption
from full allergen labeling. The
collection corresponds to the
amendments to the FD&C Act in Title II
of Public Law 108–282, 118 Stat. 905.
Affected Public: Private sector:
Businesses or other for-profits.
Estimated Annual Burden Hours: 730.
The Department of the Treasury will
submit the following information
collection requests to the Office of
Management and Budget (OMB) for
review and clearance in accordance
with the Paperwork Reduction Act of
1995, Public Law 104–13, on or after the
date of publication of this notice.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
Comments should be received on
or before August 27, 2014 to be assured
of consideration.
DEPARTMENT OF THE TREASURY
DATES:
Send comments regarding
the burden estimate, or any other aspect
of the information collection, including
suggestions for reducing the burden, to
(1) Office of Information and Regulatory
Affairs, Office of Management and
Budget, Attention: Desk Officer for
Treasury, New Executive Office
Building, Room 10235, Washington, DC
20503, or email at OIRA_Submission@
OMB.EOP.gov and (2) Treasury PRA
Clearance Officer, 1750 Pennsylvania
Ave. NW., Suite 8140, Washington, DC
20220, or email at PRA@treasury.gov.
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ADDRESSES:
FOR FURTHER INFORMATION CONTACT:
Copies of the submission(s) may be
obtained by calling (202) 927–5331,
email at PRA@treasury.gov, or the entire
information collection request may be
found at www.reginfo.gov.
VerDate Mar<15>2010
17:53 Jul 25, 2014
Jkt 232001
[FR Doc. 2014–17637 Filed 7–25–14; 8:45 am]
BILLING CODE 4810–31–P
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Submission for OMB Review;
Subordinated Debt
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 (PRA). In
accordance with the requirements of the
PRA, the OCC may not conduct or
SUMMARY:
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Fmt 4703
Sfmt 4703
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,
‘‘Subordinated Debt.’’ It is also giving
notice that it has submitted the
collection to OMB for review.
DATES: Comments must be submitted on
or before August 27, 2014.
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:
1557–0320, 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.
Additionally, please send a copy of
your comments by mail to: OCC Desk
Officer, 1557–0320, U.S. Office of
Management and Budget, 725 17th
Street NW., #10235, Washington, DC
20503, or by email to: oira submission@
omb.eop.gov.
FOR FURTHER INFORMATION CONTACT:
Johnny Vilela or Mary H. Gottlieb, OCC
Clearance Officers, (202) 649–5490, for
persons who are deaf or hard of hearing,
TTY, (202) 649–5597, 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
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
E:\FR\FM\28JYN1.SGM
28JYN1
mstockstill on DSK4VPTVN1PROD with NOTICES
Federal Register / Vol. 79, No. 144 / Monday, July 28, 2014 / Notices
agency requests or requirements that
members of the public submit reports,
keep records, or provide information to
a third party.
In connection with issuance of the
interim final rule entitled ‘‘Basel III
Conforming Amendments Related to
Cross-References, Subordinated Debt
and Limits Based on Regulatory
Capital,’’ OMB provided a six-month
approval for this information collection.
79 FR 11300 (February 28, 2014). The
OCC is proposing to extend OMB
approval of the collection for the
standard three years.
Title: Subordinated Debt.
OMB Control No.: 1557–0320.
Frequency of Response: On occasion.
Affected Public: Business or other forprofit.
Number of Respondents: 184.
Burden per Respondent: 1.3 hours.
Total Burden: 239 hours.
Description: Federal law and OCC
regulations require that, under certain
circumstances, a national bank or
Federal savings association
(collectively, ‘‘institution’’) must receive
OCC approval to issue or prepay
subordinated debt and include
subordinated debt in tier 2 capital. The
OCC uses information contained in
various applications submitted by
institutions to decide whether to grant
approval for requests to issue or prepay
subordinated debt and/or include
subordinated debt in tier 2 capital.
The OCC uses the collected
information to determine whether to
approve an institution’s request to issue
or prepay subordinated debt or include
subordinated debt in tier 2 capital. In
addition, the OCC uses the information
to determine whether to require an
institution to replace the subordinated
debt with an instrument of an
equivalent amount that satisfies the
requirements for a tier 1 or tier 2 capital
instrument. Also, when prepayment of
subordinated debt is in the form of a call
option and the subordinated debt is
included in tier 2 capital, the OCC uses
information provided by an institution
to determine whether to require the
institution to replace the instrument
with an instrument that meets the
criteria for tier 1 or tier 2 capital, and,
if so, whether the replacement
instrument would qualify as tier 1 or
tier 2 capital. The information collected
is used to ensure compliance with legal
and regulatory requirements. In the case
of a prepayment in the form of a call
option, the OCC uses the additional
information collected from institutions
to implement a requirement in the
OCC’s capital regulations, as described
below.
VerDate Mar<15>2010
17:53 Jul 25, 2014
Jkt 232001
Through the interim final rule, the
OCC revised the requirements of § 5.47.
Specifically, all national banks now
must receive prior OCC approval in
order to prepay subordinated debt that
is included in tier 2 capital, and certain
banks must receive prior approval to
prepay subordinated debt that is not
included in tier 2 capital. If the
prepayment is in the form of a call
option and the subordinated debt is
included in tier 2 capital, a national
bank must submit the information
required for general prepayment
requests under paragraph (n)(1)(ii)(A)
and also comply with paragraph
(n)(1)(ii)(B)(2), which requires a national
bank to submit either: (1) A statement
explaining why the bank believes that
following the proposed prepayment the
bank would continue to hold an amount
of capital commensurate with its risk; or
(2) a description of the replacement
capital instrument that meets the
criteria for tier 1 or tier 2 capital under
12 CFR 3.20, including the amount of
such instrument and the time frame for
issuance.
The OCC also revised the
requirements of § 163.81 in the interim
rule. Specifically, the prepayment of
subordinated debt securities or
mandatorily redeemable preferred stock
(‘‘covered securities’’) included in tier 2
capital now requires prior OCC
approval. In addition, if the prepayment
is in the form of a call option, a Federal
savings association must submit the
information required for general
prepayment requests under paragraph
(j)(2)(i) and also comply with paragraph
(j)(2)(ii)(A), which requires a Federal
savings association to submit either: (1)
A statement explaining why the Federal
savings association believes that
following the proposed prepayment the
savings association would continue to
hold an amount of capital
commensurate with its risk; or (2) a
description of the replacement capital
instrument that meets the criteria for
tier 1 or tier 2 capital under 12 CFR
3.20, including the amount of such
instrument and the time frame for
issuance.
The OCC solicited comment on this
collection for 60 days (79 FR 22762
(April 23, 2014)). No comments were
received. Comments continue to be
invited on:
(a) Whether the collections of
information are necessary for the proper
performance of the OCC’s functions,
including whether the information has
practical utility;
(b) The accuracy of the OCC’s
estimates of the burden of the
information collections, including the
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Fmt 4703
Sfmt 4703
43823
validity of the methodology and
assumptions used;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected; and
(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.
Dated: July 22, 2014.
Stuart E. Feldstein,
Director, Legislative and Regulatory Activities
Division.
[FR Doc. 2014–17717 Filed 7–25–14; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Comment Request;
Electronic Operations
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 (PRA). 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,
‘‘Electronic Operations.’’
DATES: Comments must be submitted on
or before September 26, 2014.
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:
1557–0301, 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,
SUMMARY:
E:\FR\FM\28JYN1.SGM
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]]>Agencies
[Federal Register Volume 79, Number 144 (Monday, July 28, 2014)]
[Notices]
[Pages 43822-43823]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-17717]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Subordinated Debt
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 (PRA). 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, ``Subordinated Debt.'' It is also giving notice that it has
submitted the collection to OMB for review.
DATES: Comments must be submitted on or before August 27, 2014.
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: 1557-0320, 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.
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0320, U.S. Office of Management and Budget, 725 17th
Street NW., 10235, Washington, DC 20503, or by email to: oira
submission@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: Johnny Vilela or Mary H. Gottlieb, OCC
Clearance Officers, (202) 649-5490, for persons who are deaf or hard of
hearing, TTY, (202) 649-5597, 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 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
[[Page 43823]]
agency requests or requirements that members of the public submit
reports, keep records, or provide information to a third party.
In connection with issuance of the interim final rule entitled
``Basel III Conforming Amendments Related to Cross-References,
Subordinated Debt and Limits Based on Regulatory Capital,'' OMB
provided a six-month approval for this information collection. 79 FR
11300 (February 28, 2014). The OCC is proposing to extend OMB approval
of the collection for the standard three years.
Title: Subordinated Debt.
OMB Control No.: 1557-0320.
Frequency of Response: On occasion.
Affected Public: Business or other for-profit.
Number of Respondents: 184.
Burden per Respondent: 1.3 hours.
Total Burden: 239 hours.
Description: Federal law and OCC regulations require that, under
certain circumstances, a national bank or Federal savings association
(collectively, ``institution'') must receive OCC approval to issue or
prepay subordinated debt and include subordinated debt in tier 2
capital. The OCC uses information contained in various applications
submitted by institutions to decide whether to grant approval for
requests to issue or prepay subordinated debt and/or include
subordinated debt in tier 2 capital.
The OCC uses the collected information to determine whether to
approve an institution's request to issue or prepay subordinated debt
or include subordinated debt in tier 2 capital. In addition, the OCC
uses the information to determine whether to require an institution to
replace the subordinated debt with an instrument of an equivalent
amount that satisfies the requirements for a tier 1 or tier 2 capital
instrument. Also, when prepayment of subordinated debt is in the form
of a call option and the subordinated debt is included in tier 2
capital, the OCC uses information provided by an institution to
determine whether to require the institution to replace the instrument
with an instrument that meets the criteria for tier 1 or tier 2
capital, and, if so, whether the replacement instrument would qualify
as tier 1 or tier 2 capital. The information collected is used to
ensure compliance with legal and regulatory requirements. In the case
of a prepayment in the form of a call option, the OCC uses the
additional information collected from institutions to implement a
requirement in the OCC's capital regulations, as described below.
Through the interim final rule, the OCC revised the requirements of
Sec. 5.47. Specifically, all national banks now must receive prior OCC
approval in order to prepay subordinated debt that is included in tier
2 capital, and certain banks must receive prior approval to prepay
subordinated debt that is not included in tier 2 capital. If the
prepayment is in the form of a call option and the subordinated debt is
included in tier 2 capital, a national bank must submit the information
required for general prepayment requests under paragraph (n)(1)(ii)(A)
and also comply with paragraph (n)(1)(ii)(B)(2), which requires a
national bank to submit either: (1) A statement explaining why the bank
believes that following the proposed prepayment the bank would continue
to hold an amount of capital commensurate with its risk; or (2) a
description of the replacement capital instrument that meets the
criteria for tier 1 or tier 2 capital under 12 CFR 3.20, including the
amount of such instrument and the time frame for issuance.
The OCC also revised the requirements of Sec. 163.81 in the
interim rule. Specifically, the prepayment of subordinated debt
securities or mandatorily redeemable preferred stock (``covered
securities'') included in tier 2 capital now requires prior OCC
approval. In addition, if the prepayment is in the form of a call
option, a Federal savings association must submit the information
required for general prepayment requests under paragraph (j)(2)(i) and
also comply with paragraph (j)(2)(ii)(A), which requires a Federal
savings association to submit either: (1) A statement explaining why
the Federal savings association believes that following the proposed
prepayment the savings association would continue to hold an amount of
capital commensurate with its risk; or (2) a description of the
replacement capital instrument that meets the criteria for tier 1 or
tier 2 capital under 12 CFR 3.20, including the amount of such
instrument and the time frame for issuance.
The OCC solicited comment on this collection for 60 days (79 FR
22762 (April 23, 2014)). No comments were received. Comments continue
to be invited on:
(a) Whether the collections of information are necessary for the
proper performance of the OCC's functions, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimates of the burden of the
information collections, including the validity of the methodology and
assumptions used;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected; and
(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.
Dated: July 22, 2014.
Stuart E. Feldstein,
Director, Legislative and Regulatory Activities Division.
[FR Doc. 2014-17717 Filed 7-25-14; 8:45 am]
BILLING CODE 4810-33-P
