Proposed Agency Information Collection Activities; Comment Request; Interest-Rate-Risk Vendor Questionnaire, 5884-5885 [2015-02001]

Agencies

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

[Federal Register Volume 80, Number 22 (Tuesday, February 3, 2015)]
[Notices]
[Pages 5884-5885]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-02001]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Proposed Agency Information Collection Activities; Comment 
Request; Interest-Rate-Risk Vendor Questionnaire

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 take this opportunity to comment on a continuing 
information collection, as required by the Paperwork Reduction Act of 
1995 (PRA).
    Under the PRA, Federal agencies are required to publish notice in 
the Federal Register concerning each proposed collection of information 
and 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.
    Currently, the OCC is soliciting comment concerning its proposed 
information collection entitled, ``Interest Rate Risk Vendor 
Questionnaire.''

DATES: Comments must be submitted on or before April 6, 2015.

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-NEW, 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 email 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: Mary Gottlieb, OCC Clearance Officer, 
(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., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is proposing to adopt the following 
new information collection:
    Title: Interest Rate Risk Vendor Questionnaire.
    Form Number: N/A.
    Frequency of Response: Annually.
    Affected Public: Business or other for-profit.
    Respondents: Asset-Liability Management Software Vendors (model 
developers and consultants).
    Total Estimated Number of Respondents: 73 (33 model developers; 40 
consultants).
    Estimated Time per Response: 8 hours for model developers; 4 hours 
for consultants.
    Total Estimated Total Annual Burden: 424 hours.
    Type of Review: Regular.

Abstract

    In June 2014, the Federal Financial Institutions Examination 
Council (FFIEC) \1\ Task Force on Supervision (TFOS) established a 
working group to discuss supervisory processes and strategies for 
monitoring and addressing interest rate risk at insured depository 
institutions. One of the group's key priorities is to complete a 
questionnaire of asset-liability management software vendors, both 
model developers and consultants. The questionnaire is designed to 
inform examiners of the mechanics and underlying assumptions of 
specific interest rate risk models with the goal of helping examiners 
gain a better understanding of financial institutions' rate sensitivity 
modeling. The questionnaire captures information ranging from basic 
aspects of each vendor or consultant's interest rate risk model, for 
instance, its client base to more complex components, including 
modeling capability. The complex modeling components will provide a 
baseline level of regulatory knowledge about each vendor or 
consultant's ability to measure interest rate risk under a variety of 
approaches, capture data, and measure the risk, including optionality. 
Staff is recommending that the questionnaire cover approximately 73 
vendors comprised of 33 model developers and 40 consultants. The 
questionnaire should take approximately 8 hours for each model 
developer to complete and 4 hours for each consultant as consultants 
are not required to answer questions related to a model with the same 
granularity as the model developers.
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    \1\ The FFIEC is a formal interagency body empowered to 
prescribe uniform principles, standards, and report forms for the 
examination of financial institutions by the Board of Governors of 
the Federal Reserve System, the Federal Deposit Insurance 
Corporation, the National Credit Union Administration, the OCC, the 
Consumer Financial Protection Bureau, and to make recommendations to 
promote uniformity in the supervision of financial institutions. In 
2006, the State Liaison Committee (SLC) was added to the Council as 
a voting member. The SLC includes representatives from the 
Conference of State Bank Supervisors, the American Council of State 
Savings Supervisors, and the National Association of State Credit 
Union Supervisors.
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    The OCC will serve as the sponsoring or central collection agency 
for this information collection. The information will be collected by 
the OCC and made available to the FFIEC's TFOS in order to support its 
discussions concerning supervisory processes and strategies for 
monitoring and addressing interest rate risk at insured depository 
institutions.

[[Page 5885]]

Request for Comment

    Public comment is requested on all aspects of this joint notice. 
Comments are invited on:
    (a) Whether the proposed revisions to the collections of 
information that are the subject of this notice are necessary for the 
proper performance of the agencies' functions, including whether the 
information has practical utility;
    (b) The accuracy of the agencies' estimates of the burden of the 
information collections as they are proposed to be revised, including 
the validity of the methodology and assumptions used;
    (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 services to provide information.
    Comments submitted in response to this joint notice will be shared 
among the agencies. All comments will become a matter of public record.

    Dated: January 27, 2015.
Stuart E. Feldstein,
Director, Legislative and Regulatory Activities Division.
[FR Doc. 2015-02001 Filed 2-2-15; 8:45 am]
BILLING CODE 4810-33-P