Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Interagency Guidance on Asset Securitization Activities, 48500-48501 [2016-17491]

Download as PDF mstockstill on DSK3G9T082PROD with NOTICES 48500 Federal Register / Vol. 81, No. 142 / Monday, July 25, 2016 / Notices and subject to public disclosure. Do not include 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, 1557–0219, 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: Shaquita Merritt, OCC Clearance Officer, (202) 649–5490 or, 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, Washington, DC 20219. SUPPLEMENTARY INFORMATION: The OCC is proposing to extend, without change, OMB approval of the following information collection: Title: Disclosure and Reporting of CRA-Related Agreements. OMB Control No.: 1557–0219. Description: National banks, Federal savings associations, and their affiliates (institutions) occasionally enter into agreements with nongovernmental entities or persons (NGEPs) that are related to their Community Reinvestment Act (CRA) responsibilities. Section 48 of the Federal Deposit Insurance Act (FDI Act) 1 requires disclosure of certain of these agreements and imposes reporting requirements on institutions and other insured depository institutions (IDIs), their affiliates, and NGEPs. As mandated by the FDI Act, the OCC, the Federal Deposit Insurance Corporation, and the Federal Reserve Board issued regulations to implement these disclosure and reporting requirements. The disclosure and reporting provisions of these regulations constitute collections of information under the PRA. The regulation issued by the OCC is codified at 12 CFR part 35, and the collections of information contained in that regulation are known as ‘‘CRA Sunshine.’’ Section 48 of the FDI Act applies to written agreements that: (1) Are made in fulfillment of the CRA; (2) involve funds or other resources of an IDI or affiliate with an aggregate value of more than $10,000 in a year or loans with an aggregate principal value of more than $50,000 in a year; and (3) are entered into by an IDI or affiliate of an IDI and an NGEP.2 The parties to a covered agreement must make the agreement available to 1 12 2 12 the public and the appropriate agency.3 The parties also must file a report annually with the appropriate agency concerning the disbursement, receipt, and use of funds or other resources under the agreement.4 The collections of information in CRA Sunshine implement these statutorily mandated disclosure and reporting requirements. The parties to the agreement may request confidential treatment of proprietary and confidential information in an agreement or annual report.5 The information collections are found in 12 CFR 35.4(b); 35.6(b)–(d); and 35.7(b) and (f). Type of Review: Extension of a currently approved collection. Affected Public: Individuals; Businesses or other for-profit. Estimated Number of Respondents: 14. Estimated Total Annual Burden: 1,026. Comments: On March 9, 2016, the OCC issued a 60-day notice soliciting comment on this information collection, 81 FR 12565. The OCC received one comment from an individual. The commenter stated that the collection is necessary and has practical utility. The commenter suggested that the OCC amend 12 CFR 35.6 to require that national banks and Federal savings associations publish covered agreements on their Web sites and that the OCC post them on its Web site as well. The CRA Sunshine statute set forth in section 48 of the FDI Act requires that the Federal banking agencies’ CRA Sunshine regulations protect proprietary and confidential information of parties.6 In order to comply with that statutory requirement, the OCC will make covered agreements and annual reports available to the public in accordance with the Freedom of Information Act (FOIA) 7 and the OCC’s rules regarding the availability of information under the FOIA.8 The commenter believed that the burden estimates may be low as institutions may not be aware of the filing requirements in § 35.6(d). The commenter requested that the OCC discuss how the estimates were derived and whether the possibility of underreporting was factored into the estimates. The estimates were obtained by counting the number of actual filings received. Failure to report due to a lack U.S.C. 1831y. U.S.C. 1831y(e). VerDate Sep<11>2014 18:27 Jul 22, 2016 Jkt 238001 PO 00000 3 12 U.S.C. 1831y(a). U.S.C. 1831y(b)–(c). 5 12 CFR 35.8; see 12 U.S.C. 1831y(h)(2)(A). 6 12 U.S.C. 1831y(h)(2)(A). 7 5 U.S.C. 552 et seq. 8 12 CFR part 4, subpart b; see 12 CFR 35.8. 4 12 Frm 00126 Fmt 4703 Sfmt 4703 of awareness of the filing requirements in § 35.6 was not considered as this is not within the scope of the PRA. Comments continue to be 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: July 19, 2016. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2016–17488 Filed 7–22–16; 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; Submission for OMB Review; 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 (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, ‘‘Interagency Guidance on Asset Securitization Activities.’’ The OCC also is giving notice that it has sent the collection to OMB for review. SUMMARY: E:\FR\FM\25JYN1.SGM 25JYN1 Federal Register / Vol. 81, No. 142 / Monday, July 25, 2016 / Notices Comments must be submitted on or before August 24, 2016. 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 prainfo@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 or, for persons who are deaf or hard of hearing, TTY, (202) 649–5597. Upon arrival, visitors will be required to present valid government-issued photo identification and 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 include 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, 1557–0217, 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: Shaquita Merritt, OCC Clearance Officer, (202) 649–5490 or, 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: The OCC is requesting that OMB extend its approval of the following information collection: Title: Interagency Guidance on Asset Securitization Activities. OMB Control No.: 1557–0217. Type of Review: Regular. 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 the fair value of mstockstill on DSK3G9T082PROD with NOTICES DATES: VerDate Sep<11>2014 18:27 Jul 22, 2016 Jkt 238001 retained interests, and maintain a management information system to monitor asset securitization activities. An institution’s 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: 35 national banks and Federal savings associations. Estimated Annual Burden: 1,827 hours. Frequency of Response: On occasion. Comments: On April 27, 2016, the OCC issued a 60-day notice soliciting comment on the information collection, 81 FR 24939. 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 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: July 19, 2016. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2016–17491 Filed 7–22–16; 8:45 am] BILLING CODE P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Regulation Project. 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 SUMMARY: PO 00000 Frm 00127 Fmt 4703 Sfmt 4703 48501 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 Determination of Interest Expense Deduction of Foreign Corporation. DATES: Written comments should be received on or before September 23, 2016 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the collection tools should be directed to Kerry Dennis, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Kerry.Dennis@irs.gov. SUPPLEMENTARY INFORMATION: Title: Determination of Interest Expense Deduction of Foreign Corporation. OMB Number: 1545–2030. Form Number: TD 9465. Abstract: This document contains final regulations under Section 882(c) of the Internal Revenue Code concerning the determination of the interest expense deduction of foreign corporations engaged in a trade or business within the United States. These final regulations conforms the interest expense rules to recent U.S. Income Tax Treaty agreements and adopt other changes to improve compliance. Current Actions: There are no changes to the previously approved burden of this existing collection. Type of Review: Extension of a currently approved collection. Affected Public: Businesses or other for-profit organizations. Estimated Number of Respondents: 75. Estimated Time per Respondent: 28 min. Estimated Total Annual Burden Hours: 35 hours. 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 E:\FR\FM\25JYN1.SGM 25JYN1

Agencies

[Federal Register Volume 81, Number 142 (Monday, July 25, 2016)]
[Notices]
[Pages 48500-48501]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-17491]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Submission for OMB Review; 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 (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, ``Interagency Guidance on Asset Securitization 
Activities.'' The OCC also is giving notice that it has sent the 
collection to OMB for review.

[[Page 48501]]


DATES: Comments must be submitted on or before August 24, 2016.

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 prainfo@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 or, for persons who are deaf or hard of 
hearing, TTY, (202) 649-5597. Upon arrival, visitors will be required 
to present valid government-issued photo identification and 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 include 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, 1557-0217, 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: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490 or, 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: The OCC is requesting that OMB extend its 
approval of the following information collection:
    Title: Interagency Guidance on Asset Securitization Activities.
    OMB Control No.: 1557-0217.
    Type of Review: Regular.
    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 the fair value of retained interests, 
and maintain a management information system to monitor asset 
securitization activities. An institution's 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: 35 national banks and Federal 
savings associations.
    Estimated Annual Burden: 1,827 hours.
    Frequency of Response: On occasion.
    Comments: On April 27, 2016, the OCC issued a 60-day notice 
soliciting comment on the information collection, 81 FR 24939. 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 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: July 19, 2016.
Karen Solomon,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2016-17491 Filed 7-22-16; 8:45 am]
 BILLING CODE P