Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Margin and Capital Requirements for Covered Swap Entities: Exemptions, 50057-50058 [2016-17981]

Download as PDF asabaliauskas on DSK3SPTVN1PROD with NOTICES Federal Register / Vol. 81, No. 146 / Friday, July 29, 2016 / Notices Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program). The form will be renamed the Uses of Award Report Form in an effort by the CDFI Fund to create uniform reporting requirements. DATES: Written comments should be received on or before September 27, 2016 to be assured of consideration. ADDRESSES: Submit your comments via email to Michael Banks, Associate Program Manager, CDFI Fund, at cdfihelp@cdfi.treas.gov. FOR FURTHER INFORMATION CONTACT: Michael Banks, Associate Program Manager, CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220. The Uses of Award Report Form may be obtained from the CDFI Fund’s Web site at http://www.cdfifund.gov/bea under How to Apply Step 5: Compliance and Reporting or http://www.cdfifund.gov/ cdfi under How to Apply Step 4: Compliance and Reporting. SUPPLEMENTARY INFORMATION: Title: Uses of Award Report Form (formerly BEA Program Award Report Form). OMB Number: 1559–0032. Abstract: The purpose of the BEA Program is to provide an incentive to insured depository institutions to increase their activities in the form of loans, investments, services, and technical assistance within distressed communities and provide financial assistance to certified Community Development Financial Institutions (CDFIs) through grants, stock purchases, loans, deposits, and other forms of financial and technical assistance. Applicants submit applications and are evaluated in accordance with statutory and regulatory requirements (12 CFR 1806), and requirements that are set forth in the annual Notice of Funds Availability. The CDFI Fund requires BEA Program Award Recipients to use BEA Program Awards for BEA Program Qualified Activities, as defined in the BEA Program regulations. Recipients are required to report to the CDFI Fund on their Qualified Activities per their Assistance Agreements. The CDFI Program is authorized by the Riegle Community Development Banking and Financial Institutions Act of 1994 (Pub. L. 103–325, 12 U.S.C. 4701 et seq.). The CDFI Program uses federal resources to invest in and build the capacity of CDFIs to serve lowincome people and communities lacking adequate access to affordable financial products and services. The CDFI Fund created the Native Initiatives, which includes the NACA Program, to further support the creation and expansion of VerDate Sep<11>2014 18:42 Jul 28, 2016 Jkt 238001 Native CDFIs. Through the CDFI Program and NACA Program, the CDFI Fund provides: (1) Financial Assistance (FA) awards to CDFIs and Native CDFIs that have Comprehensive Business Plans for creating demonstrable community development impact through the deployment of credit, capital, and financial services within their respective Target Markets or the expansion into new Investment Areas, Low-Income Targeted Populations, or Other Targeted Populations, and (ii) Technical Assistance (TA) grants to CDFIs and Native CDFIs and entities proposing to become CDFIs or Native CDFIs in order to build their capacity to better address the community development and capital access needs of their existing or proposed Target Markets and/or to become certified CDFIs. CDFI Program applicants submit applications and are evaluated in accordance with statutory and regulatory requirements (12 CFR 1805), and requirements that are set forth in an annual Notice of Funds Availability. NACA Program applicants submit applications and are evaluated in accordance with requirements that are set forth in an annual Notice of Funds Availability. Recipients with FA or TA awards are required to report to the CDFI Fund on the uses of those funds per their Assistance Agreements. In an effort to create uniformity in reporting across the CDFI Fund, the CDFI Fund seeks to revise the BEA Program Award Report Form and rename it the ‘‘Uses of Award Report Form.’’ The BEA Program Award Report Form is currently required for Recipients of awards under the BEA Program. These revisions would allow the form to also be used by the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program). This request for public comment seeks to gather information on the revised Use of Award Report Form. Current Actions: Renewal and revision of an existing Information Collection. Type of Review: Regular Review. Affected Public: Recipients of BEA Program awards. Estimated Number of BEA Program Respondents: 80. Estimated Annual Time per BEA Program Respondent: 1 hour. Affected Public: Recipients of CDFI or NACA Program awards. Estimated Number of CDFI and NACA Program Respondents: 245. Estimated Annual Time CDFI and NACA Program per Respondent: 1 hour. PO 00000 Frm 00136 Fmt 4703 Sfmt 4703 50057 Estimated Total Annual Burden Hours: 325 hours. Requests For Comments: Comments submitted in response to this notice will be summarized and/or included in the request for Office of Management and Budget (OMB) approval. All comments will become a matter of public record and will be published on the CDFI Fund Web site at http://www.cdfifund.gov. Comments are invited on: (a) whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collections of information displays a valid OMB control number. Authority: 12 U.S.C. 4704, 4713; 12 CFR parts 1805 and 1806. Mary Ann Donovan, Director, Community Development Financial Institutions Fund. [FR Doc. 2016–17996 Filed 7–28–16; 8:45 am] BILLING CODE 4810–70–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Margin and Capital Requirements for Covered Swap Entities: Exemptions 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 SUMMARY: E:\FR\FM\29JYN1.SGM 29JYN1 asabaliauskas on DSK3SPTVN1PROD with NOTICES 50058 Federal Register / Vol. 81, No. 146 / Friday, July 29, 2016 / Notices valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, ‘‘Margin and Capital Requirements for Covered Swap Entities: Exemptions.’’ The OCC also is giving notice that it has sent the collection to OMB for review. DATES: Comments must be submitted on or before August 29, 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: 1557–0335, 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 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 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, 1557–0335, 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. In connection with issuance of the interim final rule entitled ‘‘Margin and VerDate Sep<11>2014 18:42 Jul 28, 2016 Jkt 238001 Capital Requirements for Covered Swap Entities,’’ 1 OMB provided a six-month approval for this information collection. The OCC is proposing to extend OMB approval of the collection for the standard three years. Title: Margin and Capital Requirements for Covered Swap Entities: Exemptions. OMB Control No.: 1557–0335. Description: The OCC issued an interim final rule required by the Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA).2 Title III of TRIPRA, the ‘‘Business Risk Mitigation and Price Stabilization Act of 2015,’’ amends the statutory provisions added by the Dodd-Frank Act relating to margin requirements for non-cleared swaps and non-cleared security-based swaps. Section 302 of TRIPRA amends sections 731 and 764 of the Dodd-Frank Act to provide that the initial and variation margin requirements do not apply to certain transactions with specified counterparties that qualify for an exemption or exception from clearing. Non-cleared swaps and noncleared security-based swaps that are exempt under section 302 of TRIPRA will not be subject to the Agencies’ 3 rules implementing margin requirements.4 The effect of the interim final rule is to augment provisions of the final rule published by the Agencies in November 2015 5 that allow swap entities to collect no initial or variation margin from certain ‘‘other counterparties’’ like commercial endusers with a provision that grants an exception from the margin requirements for certain swaps with these and certain additional counterparties. The reporting requirements in the interim final rule are found in 12 CFR 45.1(d), which refers to other statutory provisions that set forth conditions for an exemption from clearing. Section 45.1(d)(1) provides an exemption for non-cleared swaps if one of the counterparties to the swap is not a financial entity, is using swaps to hedge or mitigate commercial risk, and notifies the Commodity Futures Trading Commission of how it generally meets its financial obligations associated with entering into non-cleared swaps. FR 74915 (November 30, 2015). Law 114–1, 129 Stat. 3 (2015). 3 The Agencies are the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the Federal Housing Finance Agency. 4 The interim final rule is a companion rule to a final rule adopted to implement section 731 and 764 of the Dodd-Frank Act. 5 The final rule was issued on November 30, 2015 (80 FR 74840). PO 00000 1 80 2 Public Frm 00137 Fmt 4703 Sfmt 4703 Section 45.1(d)(2) provides an exemption for security-based swaps if the counterparty notifies the Securities and Exchange Commission of how it generally meets its financial obligations associated with entering into noncleared security-based swaps. Type of Review: Extension of a currently approved collection. Affected Public: Individuals; Businesses or other for-profit. Estimated Number of Respondents: 20. Estimated Total Annual Burden: 20,000. On April 19, 2016, the OCC issued a notice for 60 days of comment concerning the collection, 81 FR 23082. 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 25, 2016. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2016–17981 Filed 7–28–16; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Internal Revenue Service Quarterly Publication of Individuals, Who Have Chosen To Expatriate, as Required by Section 6039G Internal Revenue Service (IRS), Treasury. ACTION: Notice. AGENCY: This notice is provided in accordance with IRC section 6039G of the Health Insurance Portability and Accountability Act (HIPPA) of 1996, as amended. This listing contains the name of each individual losing United States citizenship (within the meaning of section 877(a) or 877A) with respect to whom the Secretary received SUMMARY: E:\FR\FM\29JYN1.SGM 29JYN1

Agencies

[Federal Register Volume 81, Number 146 (Friday, July 29, 2016)]
[Notices]
[Pages 50057-50058]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-17981]


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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; Margin and Capital Requirements for 
Covered Swap Entities: Exemptions

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

[[Page 50058]]

valid Office of Management and Budget (OMB) control number.
    The OCC is soliciting comment concerning the renewal of its 
information collection titled, ``Margin and Capital Requirements for 
Covered Swap Entities: Exemptions.'' The OCC also is giving notice that 
it has sent the collection to OMB for review.

DATES: Comments must be submitted on or before August 29, 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: 1557-0335, 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 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 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, 1557-0335, 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.
    In connection with issuance of the interim final rule entitled 
``Margin and Capital Requirements for Covered Swap Entities,'' \1\ OMB 
provided a six-month approval for this information collection. The OCC 
is proposing to extend OMB approval of the collection for the standard 
three years.
---------------------------------------------------------------------------

    \1\ 80 FR 74915 (November 30, 2015).
---------------------------------------------------------------------------

    Title: Margin and Capital Requirements for Covered Swap Entities: 
Exemptions.
    OMB Control No.: 1557-0335.
    Description: The OCC issued an interim final rule required by the 
Terrorism Risk Insurance Program Reauthorization Act of 2015 
(TRIPRA).\2\ Title III of TRIPRA, the ``Business Risk Mitigation and 
Price Stabilization Act of 2015,'' amends the statutory provisions 
added by the Dodd-Frank Act relating to margin requirements for non-
cleared swaps and non-cleared security-based swaps. Section 302 of 
TRIPRA amends sections 731 and 764 of the Dodd-Frank Act to provide 
that the initial and variation margin requirements do not apply to 
certain transactions with specified counterparties that qualify for an 
exemption or exception from clearing. Non-cleared swaps and non-cleared 
security-based swaps that are exempt under section 302 of TRIPRA will 
not be subject to the Agencies' \3\ rules implementing margin 
requirements.\4\ The effect of the interim final rule is to augment 
provisions of the final rule published by the Agencies in November 2015 
\5\ that allow swap entities to collect no initial or variation margin 
from certain ``other counterparties'' like commercial end-users with a 
provision that grants an exception from the margin requirements for 
certain swaps with these and certain additional counterparties.
---------------------------------------------------------------------------

    \2\ Public Law 114-1, 129 Stat. 3 (2015).
    \3\ The Agencies are the Office of the Comptroller of the 
Currency, the Board of Governors of the Federal Reserve System, the 
Federal Deposit Insurance Corporation, the Farm Credit 
Administration, and the Federal Housing Finance Agency.
    \4\ The interim final rule is a companion rule to a final rule 
adopted to implement section 731 and 764 of the Dodd-Frank Act.
    \5\ The final rule was issued on November 30, 2015 (80 FR 
74840).
---------------------------------------------------------------------------

    The reporting requirements in the interim final rule are found in 
12 CFR 45.1(d), which refers to other statutory provisions that set 
forth conditions for an exemption from clearing. Section 45.1(d)(1) 
provides an exemption for non-cleared swaps if one of the 
counterparties to the swap is not a financial entity, is using swaps to 
hedge or mitigate commercial risk, and notifies the Commodity Futures 
Trading Commission of how it generally meets its financial obligations 
associated with entering into non-cleared swaps. Section 45.1(d)(2) 
provides an exemption for security-based swaps if the counterparty 
notifies the Securities and Exchange Commission of how it generally 
meets its financial obligations associated with entering into non-
cleared security-based swaps.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals; Businesses or other for-profit.
    Estimated Number of Respondents: 20.
    Estimated Total Annual Burden: 20,000.
    On April 19, 2016, the OCC issued a notice for 60 days of comment 
concerning the collection, 81 FR 23082. 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 25, 2016.
Karen Solomon,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2016-17981 Filed 7-28-16; 8:45 am]
BILLING CODE 4810-33-P