Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Interagency Guidance on Asset Securitization Activities, 48500-48501 [2016-17491]
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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).
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18:27 Jul 22, 2016
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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
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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:
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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
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DATES:
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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:
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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
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]]>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]
-----------------------------------------------------------------------
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
