Agency Information Collection Activities: Information Collection Renewal; Comment Request; Market Risk, 56148-56150 [2018-24494]
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56148
Federal Register / Vol. 83, No. 218 / Friday, November 9, 2018 / Notices
Avenue SE, Room W23–453,
Washington, DC 20590. Telephone 202–
366–9309, Email Bianca.carr@dot.gov.
SUPPLEMENTARY INFORMATION: As
described by the applicant the intended
service of the vessel HARLEY G is:
—Intended Commercial Use of Vessel:
Private Vessel Charters, Passengers
Only. Crewed private Passenger
private charter for domestic coastline
travel. Vessel will also be used
commercially for television
commercials and/or movies. 50% of
the time, the vessel does not leave the
slip, is used for background shots
—Geographic Region Including Base of
Operations: ‘‘California, Washington,
Oregon, and Alaska (excluding waters
in Southeast Alaska)’’ (Base of
Operations: San Pedro, CA)
—Vessel Length and Type: 97′.1″ Trideck Motor vessel
The complete application is available
for review identified in the DOT docket
as MARAD–2018–0163 at https://
www.regulations.gov. Interested parties
may comment on the effect this action
may have on U.S. vessel builders or
businesses in the U.S. that use U.S.-flag
vessels. If MARAD determines, in
accordance with 46 U.S.C. 12121 and
MARAD’s regulations at 46 CFR part
388, that the issuance of the waiver will
have an unduly adverse effect on a U.S.vessel builder or a business that uses
U.S.-flag vessels in that business, a
waiver will not be granted. Comments
should refer to the vessel name, state the
commenter’s interest in the waiver
application, and address the waiver
criteria given in section 388.4 of
MARAD’s regulations at 46 CFR part
388.
Public Participation
khammond on DSK30JT082PROD with NOTICES
How do I submit comments?
Please submit your comments,
including the attachments, following the
instructions provided under the above
heading entitled ADDRESSES. Be advised
that it may take a few hours or even
days for your comment to be reflected
on the docket. In addition, your
comments must be written in English.
We encourage you to provide concise
comments and you may attach
additional documents as necessary.
There is no limit on the length of the
attachments.
Where do I go to read public comments,
and find supporting information?
Go to the docket online at https://
www.regulations.gov, keyword search
MARAD–2018–0163 or visit the Docket
Management Facility (see ADDRESSES for
hours of operation). We recommend that
you periodically check the Docket for
VerDate Sep<11>2014
17:36 Nov 08, 2018
Jkt 247001
new submissions and supporting
material.
Will my comments be made available to
the public?
Yes. Be aware that your entire
comment, including your personal
identifying information, will be made
publicly available.
May I submit comments confidentially?
If you wish to submit comments
under a claim of confidentiality, you
should submit three copies of your
complete submission, including the
information you claim to be confidential
business information, to the Department
of Transportation, Maritime
Administration, Office of Legislation
and Regulations, MAR–225, W24–220,
1200 New Jersey Avenue SE,
Washington, DC 20590. Include a cover
letter setting forth with specificity the
basis for any such claim and, if possible,
a summary of your submission that can
be made available to the public.
Privacy Act
In accordance with 5 U.S.C. 553(c),
DOT solicits comments from the public
to better inform its rulemaking process.
DOT posts these comments, without
edit, to www.regulations.gov, as
described in the system of records
notice, DOT/ALL–14 FDMS, accessible
through www.dot.gov/privacy. To
facilitate comment tracking and
response, we encourage commenters to
provide their name, or the name of their
organization; however, submission of
names is completely optional. Whether
or not commenters identify themselves,
all timely comments will be fully
considered. If you wish to provide
comments containing proprietary or
confidential information, please contact
the agency for alternate submission
instructions.
(Authority: 49 CFR 1.93(a), 46 U.S.C. 55103,
46 U.S.C. 12121)
* * *
Dated: November 5, 2018.
By Order of the Maritime Administrator.
T. Mitchell Hudson, Jr.,
Secretary, Maritime Administration.
[FR Doc. 2018–24507 Filed 11–8–18; 8:45 am]
BILLING CODE 4910–81–P
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Comment Request; Market
Risk
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 the
renewal of its information collection
titled, ‘‘Market Risk.’’
DATES: You should submit written
comments by: January 8, 2019.
ADDRESSES: Commenters are encouraged
to submit comments by email, if
possible. You may submit comments by
any of the following methods:
• Email: prainfo@occ.treas.gov.
• Mail: Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, Attention:
1557–0247, 400 7th Street SW, Suite
3E–218, Washington, DC 20219.
• Hand Delivery/Courier: 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
• Fax: (571) 465–4326.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
00247’’ in your comment. In general, the
OCC will publish them on
www.reginfo.gov without change,
including any business or personal
information that you provide, such as
name and address information, email
addresses, or phone numbers.
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.
You may review comments and other
related materials that pertain to this
information collection beginning on the
SUMMARY:
E:\FR\FM\09NON1.SGM
09NON1
khammond on DSK30JT082PROD with NOTICES
Federal Register / Vol. 83, No. 218 / Friday, November 9, 2018 / Notices
date of publication of the second notice
for this collection 1 by any of the
following methods:
• Viewing Comments Electronically:
Go to www.reginfo.gov. Click on the
‘‘Information Collection Review’’ tab.
Underneath the ‘‘Currently under
Review’’ section heading, from the dropdown menu, select ‘‘Department of
Treasury’’ and then click ‘‘submit’’. This
information collection can be located by
searching by OMB control number
‘‘1557–0247’’ or ‘‘Market Risk.’’ Upon
finding the appropriate information
collection, click on the related ‘‘ICR
Reference Number.’’ On the next screen,
select ‘‘View Supporting Statement and
Other Documents’’ and then click on the
link to any comment listed at the bottom
of the screen.
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
• Viewing Comments Personally: You
may personally inspect comments at the
OCC, 400 7th Street, SW, Washington,
DC. 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 hearing
impaired, 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 comments.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, Clearance Officer,
(202) 649–5490, for persons who are
deaf or hearing impaired, TTY, (202)
649–5597, Chief Counsel’s Office, Office
of the Comptroller of the Currency, 400
7th Street SW, Suite 3E–218,
Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the
PRA (44 U.S.C. 3501–3520), federal
agencies must obtain approval from the
OMB for each collection of information
that they conduct or sponsor.
‘‘Collection of information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) to include agency requests or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. Section
3506(c)(2)(A) of title 44 requires federal
agencies to provide a 60-day notice in
the Federal Register concerning each
proposed collection of information,
including each renewal of an existing
collection of information, before
submitting the collection to OMB for
approval. To comply with this
requirement, the OCC is publishing
1 Following the close of the 60-Day comment
period for this notice, the OCC will publish a notice
for 30 days of comment for this collection.
VerDate Sep<11>2014
17:36 Nov 08, 2018
Jkt 247001
notice of the renewal of the collection
of information set forth in this
document.
Title: Market Risk.
OMB Control No.: 1557–0247.
Description: The Office of the
Comptroller of the Currency’s (OCC)
market risk capital rules (12 CFR part 3,
subpart F) apply to national banks and
federal savings associations with
significant exposure to market risk,
which include those national banks and
federal savings associations with
aggregate trading assets and trading
liabilities (as reported in the national
bank’s or federal savings association’s
most recent Call Report) equal to 10
percent or more of quarter-end total
assets or $1 billion or more. The rules
capture positions for which the market
risk capital rules are appropriate; reduce
procyclicality in market risk capital
requirements; enhance the risk
sensitivity of the OCC’s capital
requirements by measuring risks that are
not adequately captured under the
requirements for credit risk; and
increase transparency through enhanced
disclosures.
The information collection
requirements are located at 12 CFR
3.203 through 3.212. The rules enhance
risk sensitivity and include
requirements for the public disclosure
of certain qualitative and quantitative
information about the market risk of
national banks and federal savings
associations. The collection of
information is necessary to ensure
capital adequacy appropriate for the
level of market risk.
Section 3.203 sets forth the
requirements for applying the market
risk framework. Section 3.203(a)(1)
requires national banks and federal
savings associations to have clearly
defined policies and procedures for
determining which trading assets and
trading liabilities are trading positions
and specifies the factors a national bank
or federal savings association must take
into account in drafting those policies
and procedures. Section 3.203(a)(2)
requires national banks and federal
savings associations to have clearly
defined trading and hedging strategies
for trading positions that are approved
by senior management and specifies
what those strategies must articulate.
Section 3.203(b)(1) requires national
banks and federal savings associations
to have clearly defined policies and
procedures for actively managing all
covered positions and specifies the
minimum requirements for those
policies and procedures. Sections
3.203(c)(4) through 3.203(c)(10) require
the review, at least annually, of internal
models and specify certain requirements
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Sfmt 4703
56149
for those models. Section 3.203(d)(4)
requires the internal audit group of a
national bank or federal savings
association to report, at least annually,
to the board of directors on the
effectiveness of controls supporting the
market risk measurement systems.
Section 3.204(b) requires national
banks and federal savings associations
to conduct quarterly backtesting.
Section 3.205(a)(5) requires institutions
to demonstrate to the OCC the
appropriateness of proxies used to
capture risks within value-at-risk
models. Section 3.205(c) requires
institutions to develop, retain, and make
available to the OCC value-at-risk and
profit and loss information on subportfolios for two years. Section
3.206(b)(3) requires national banks and
federal savings associations to have
policies and procedures that describe
how they determine the period of
significant financial stress used to
calculate the institution’s stressed
value-at-risk models and to obtain prior
OCC approval for any material changes
to these policies and procedures.
Section 3.207(b)(1) details
requirements applicable to a national
bank or federal savings association
when the national bank or federal
savings association uses internal models
to measure the specific risk of certain
covered positions. Section 3.208
requires national banks and federal
savings associations to obtain prior
written OCC approval for incremental
risk modeling. Section 3.209(a) requires
prior OCC approval for the use of a
comprehensive risk measure. Section
3.209(c)(2) requires national banks and
federal savings associations to retain
and report the results of supervisory
stress testing. Section 3.210(f)(2)(i)
requires national banks and federal
savings associations to document an
internal analysis of the risk
characteristics of each securitization
position in order to demonstrate an
understanding of the position. Section
3.212 requires quarterly quantitative
disclosures, annual qualitative
disclosures, and a formal disclosure
policy approved by the board of
directors that addresses the approach for
determining the market risk disclosures
it makes.
Type of Review: Extension of a
currently approved collection. Affected
Public: Individuals; Businesses or other
for-profit.
Number of Respondents: 12.
Estimated Burden per Respondent:
1,964 hours.
Total Estimated Annual Burden:
25,568 hours.
Comments submitted in response to
this notice will be summarized,
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56150
Federal Register / Vol. 83, No. 218 / Friday, November 9, 2018 / Notices
included in the request for OMB
approval, and become a matter of public
record. Comments are 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 burden of the collection
of information;
(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: November 5, 2018.
Theodore J. Dowd,
Deputy Chief Counsel, Comptroller of the
Currency.
[FR Doc. 2018–24494 Filed 11–8–18; 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;
Consumer Protections for Depository
Institution Sales of Insurance
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 respondents are 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 ‘‘Consumer Protections
for Depository Institution Sales of
Insurance.’’
khammond on DSK30JT082PROD with NOTICES
SUMMARY:
Comments must be received by
January 8, 2019.
DATES:
VerDate Sep<11>2014
17:36 Nov 08, 2018
Jkt 247001
Commenters are encouraged
to submit comments by email, if
possible. You may submit comments by
any of the following methods:
• Email: prainfo@occ.treas.gov.
• Mail: Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, Attention:
1557–0220, 400 7th Street SW, Suite
3E–218, Washington, DC 20219.
• Hand Delivery/Courier: 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
• Fax: (571) 465–4326.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0220’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov without change,
including any business or personal
information that you provide, such as
name and address information, email
addresses, or phone numbers.
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.
You may review comments and other
related materials that pertain to this
information collection beginning on the
date of publication of the second notice
for this collection 1 by any of the
following methods:
• Viewing Comments Electronically:
Go to www.reginfo.gov. Click on the
‘‘Information Collection Review’’ tab.
Underneath the ‘‘Currently under
Review’’ section heading, from the dropdown menu, select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching by OMB control number
‘‘1557–0220’’ or ‘‘Consumer Protections
for Depository Institution Sales of
Insurance.’’ Upon finding the
appropriate information collection, click
on the related ‘‘ICR Reference Number.’’
On the next screen, select ‘‘View
Supporting Statement and Other
Documents’’ and then click on the link
to any comment listed at the bottom of
the screen.
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
• Viewing Comments Personally: You
may personally inspect comments at the
OCC, 400 7th Street SW, Washington,
DC. For security reasons, the OCC
requires that visitors make an
ADDRESSES:
1 Following the close of the 60-Day comment
period for this notice, the OCC will publish a notice
for 30 days of comment for this collection.
PO 00000
Frm 00105
Fmt 4703
Sfmt 4703
appointment to inspect comments. You
may do so by calling (202) 649–6700 or,
for persons who are deaf or hearing
impaired, 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 comments.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, Clearance Officer,
(202) 649–5490 or, for persons who are
deaf or hearing impaired, TTY, (202)
649–5597, Chief Counsel’s Office, Office
of the Comptroller of the Currency, 400
7th Street SW, Suite 3E–218,
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
agency requests or requirements that
members of the public submit reports,
keep records, or provide information to
a third party. Section 3506(c)(2)(A) of
part 44 requires federal agencies to
provide a 60-day notice in the Federal
Register concerning each proposed
collection of information, including
each proposed extension of an existing
collection of information, before
submitting the collection to OMB for
approval. To comply with this
requirement, the OCC is publishing
notice of the collection of information
set forth in this document.
Title: Consumer Protections for
Depository Institution Sales of
Insurance.
OMB Control No.: 1557–0220.
Type of Review: Extension, without
revision, of a currently approved
collection.
Description: This information
collection is required under section 305
of the Gramm-Leach-Bliley Act (GLB
Act), 12 U.S.C. 1831x. Section 305 of the
GLB Act requires the OCC, the Board of
Governors of the Federal Reserve
System, and the Federal Deposit
Insurance Corporation (collectively, the
Agencies) to prescribe joint consumer
protection regulations that apply to
retail sales practices, solicitations,
advertising, and offers of any insurance
product by a depository institution or by
other persons performing these
activities at an office of the institution
or on behalf of the institution (other
covered persons). Section 305 also
requires those performing such
activities to disclose certain information
to consumers (e.g., that insurance
products and annuities are not FDICinsured).
E:\FR\FM\09NON1.SGM
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]]>Agencies
[Federal Register Volume 83, Number 218 (Friday, November 9, 2018)]
[Notices]
[Pages 56148-56150]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-24494]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Market Risk
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 the renewal of its information collection titled,
``Market Risk.''
DATES: You should submit written comments by: January 8, 2019.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
Email: [email protected].
Mail: Legislative and Regulatory Activities Division,
Office of the Comptroller of the Currency, Attention: 1557-0247, 400
7th Street SW, Suite 3E-218, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
Fax: (571) 465-4326.
Instructions: You must include ``OCC'' as the agency name and
``1557-00247'' in your comment. In general, the OCC will publish them
on www.reginfo.gov without change, including any business or personal
information that you provide, such as name and address information,
email addresses, or phone numbers. 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.
You may review comments and other related materials that pertain to
this information collection beginning on the
[[Page 56149]]
date of publication of the second notice for this collection \1\ by any
of the following methods:
---------------------------------------------------------------------------
\1\ Following the close of the 60-Day comment period for this
notice, the OCC will publish a notice for 30 days of comment for
this collection.
---------------------------------------------------------------------------
Viewing Comments Electronically: Go to www.reginfo.gov.
Click on the ``Information Collection Review'' tab. Underneath the
``Currently under Review'' section heading, from the drop-down menu,
select ``Department of Treasury'' and then click ``submit''. This
information collection can be located by searching by OMB control
number ``1557-0247'' or ``Market Risk.'' Upon finding the appropriate
information collection, click on the related ``ICR Reference Number.''
On the next screen, select ``View Supporting Statement and Other
Documents'' and then click on the link to any comment listed at the
bottom of the screen.
For assistance in navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
Viewing Comments Personally: You may personally inspect
comments at the OCC, 400 7th Street, SW, Washington, DC. 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 hearing impaired, 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
comments.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer,
(202) 649-5490, for persons who are deaf or hearing impaired, TTY,
(202) 649-5597, Chief Counsel's Office, Office of the Comptroller of
the Currency, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), federal
agencies must obtain approval from the OMB for each collection of
information that they conduct or sponsor. ``Collection of information''
is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency
requests or requirements that members of the public submit reports,
keep records, or provide information to a third party. Section
3506(c)(2)(A) of title 44 requires federal agencies to provide a 60-day
notice in the Federal Register concerning each proposed collection of
information, including each renewal of an existing collection of
information, before submitting the collection to OMB for approval. To
comply with this requirement, the OCC is publishing notice of the
renewal of the collection of information set forth in this document.
Title: Market Risk.
OMB Control No.: 1557-0247.
Description: The Office of the Comptroller of the Currency's (OCC)
market risk capital rules (12 CFR part 3, subpart F) apply to national
banks and federal savings associations with significant exposure to
market risk, which include those national banks and federal savings
associations with aggregate trading assets and trading liabilities (as
reported in the national bank's or federal savings association's most
recent Call Report) equal to 10 percent or more of quarter-end total
assets or $1 billion or more. The rules capture positions for which the
market risk capital rules are appropriate; reduce procyclicality in
market risk capital requirements; enhance the risk sensitivity of the
OCC's capital requirements by measuring risks that are not adequately
captured under the requirements for credit risk; and increase
transparency through enhanced disclosures.
The information collection requirements are located at 12 CFR 3.203
through 3.212. The rules enhance risk sensitivity and include
requirements for the public disclosure of certain qualitative and
quantitative information about the market risk of national banks and
federal savings associations. The collection of information is
necessary to ensure capital adequacy appropriate for the level of
market risk.
Section 3.203 sets forth the requirements for applying the market
risk framework. Section 3.203(a)(1) requires national banks and federal
savings associations to have clearly defined policies and procedures
for determining which trading assets and trading liabilities are
trading positions and specifies the factors a national bank or federal
savings association must take into account in drafting those policies
and procedures. Section 3.203(a)(2) requires national banks and federal
savings associations to have clearly defined trading and hedging
strategies for trading positions that are approved by senior management
and specifies what those strategies must articulate. Section
3.203(b)(1) requires national banks and federal savings associations to
have clearly defined policies and procedures for actively managing all
covered positions and specifies the minimum requirements for those
policies and procedures. Sections 3.203(c)(4) through 3.203(c)(10)
require the review, at least annually, of internal models and specify
certain requirements for those models. Section 3.203(d)(4) requires the
internal audit group of a national bank or federal savings association
to report, at least annually, to the board of directors on the
effectiveness of controls supporting the market risk measurement
systems.
Section 3.204(b) requires national banks and federal savings
associations to conduct quarterly backtesting. Section 3.205(a)(5)
requires institutions to demonstrate to the OCC the appropriateness of
proxies used to capture risks within value-at-risk models. Section
3.205(c) requires institutions to develop, retain, and make available
to the OCC value-at-risk and profit and loss information on sub-
portfolios for two years. Section 3.206(b)(3) requires national banks
and federal savings associations to have policies and procedures that
describe how they determine the period of significant financial stress
used to calculate the institution's stressed value-at-risk models and
to obtain prior OCC approval for any material changes to these policies
and procedures.
Section 3.207(b)(1) details requirements applicable to a national
bank or federal savings association when the national bank or federal
savings association uses internal models to measure the specific risk
of certain covered positions. Section 3.208 requires national banks and
federal savings associations to obtain prior written OCC approval for
incremental risk modeling. Section 3.209(a) requires prior OCC approval
for the use of a comprehensive risk measure. Section 3.209(c)(2)
requires national banks and federal savings associations to retain and
report the results of supervisory stress testing. Section
3.210(f)(2)(i) requires national banks and federal savings associations
to document an internal analysis of the risk characteristics of each
securitization position in order to demonstrate an understanding of the
position. Section 3.212 requires quarterly quantitative disclosures,
annual qualitative disclosures, and a formal disclosure policy approved
by the board of directors that addresses the approach for determining
the market risk disclosures it makes.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals; Businesses or other for-profit.
Number of Respondents: 12.
Estimated Burden per Respondent: 1,964 hours.
Total Estimated Annual Burden: 25,568 hours.
Comments submitted in response to this notice will be summarized,
[[Page 56150]]
included in the request for OMB approval, and become a matter of public
record. Comments are 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 burden of the
collection of information;
(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: November 5, 2018.
Theodore J. Dowd,
Deputy Chief Counsel, Comptroller of the Currency.
[FR Doc. 2018-24494 Filed 11-8-18; 8:45 am]
BILLING CODE 4810-33-P
