Agency Information Collection Activities: Information Collection Renewal; Comment Request; Leveraged Lending, 56399-56400 [2018-24616]

Download as PDF Federal Register / Vol. 83, No. 219 / Tuesday, November 13, 2018 / Notices transaction fees described above and fees or other compensation described in Condition 2(c)(iii)(B)(z), (ii) brokerage or underwriting compensation permitted by section 17(e) or 57(k) or (iii) in the case of the Adviser, investment advisory compensation paid in accordance with investment advisory agreements between the applicable Regulated Fund(s) or Affiliated Fund(s) and its Adviser. 15. Independence. If the Holders own in the aggregate more than 25 percent of the Shares of a Regulated Fund, then the Holders will vote such Shares as directed by an independent third party when voting on (1) the election of directors; (2) the removal of one or more directors; or (3) any other matter under either the Act or applicable State law affecting the Board’s composition, size or manner of election. 16. Proprietary Accounts. The Stellus Proprietary Accounts will not be permitted to invest in a Potential CoInvestment Transaction except to the extent the aggregate demand from the Regulated Funds and the other Affiliated Funds is less than the total investment opportunity. For the Commission, by the Division of Investment Management, under delegated authority. Eduardo A. Aleman, Assistant Secretary. amozie on DSK3GDR082PROD with NOTICES1 Sunshine Act Meeting Notice; Meeting No. 18–04 The TVA Board of Directors will hold a public meeting on November 14, 2018, in the Bancorp South Conference Center, 387 East Main Street, Tupelo, Mississippi. The meeting will be called to order at 9:30 a.m. CT to consider the agenda items listed below. TVA management will answer questions from the news media following the Board meeting. On November 13, the public may comment on any agenda item or subject at a board-hosted public listening session which begins at 2:30 p.m. CT and will last until 4:30 p.m. Preregistration is required to address the Board. Status: Open. Jkt 247001 BILLING CODE 8120–08–P Agency Information Collection Activities: Information Collection Renewal; Comment Request; Leveraged Lending TENNESSEE VALLEY AUTHORITY 17:34 Nov 09, 2018 [FR Doc. 2018–24842 Filed 11–8–18; 4:15 pm] Office of the Comptroller of the Currency BILLING CODE 8011–01–P VerDate Sep<11>2014 Dated: November 7, 2018. Sherry A. Quirk, General Counsel. DEPARTMENT OF THE TREASURY [FR Doc. 2018–24635 Filed 11–9–18; 8:45 am] Agenda 1. Approval of minutes of the August 22, 2018, Board Meeting 2. Report from President and CEO 3. Report of the Finance, Rates, and Portfolio Committee 4. Report of the People and Performance Committee A. Fiscal Year 2018 Performance and Compensation B. CEO Compensation for Fiscal Year 2019 5. Report of the Audit, Risk, and Regulation Committee A. Regulatory Assets 6. Report of the External Relations Committee 7. Report of the Nuclear Oversight Committee For more information: Please call TVA Media Relations at (865) 632–6000, Knoxville, Tennessee. People who plan to attend the meeting and have special needs should call (865) 632–6000. Anyone who wishes to comment on any of the agenda in writing may send their comments to: TVA Board of Directors, Board Agenda Comments, 400 West Summit Hill Drive, Knoxville, Tennessee 37902. 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 the renewal of its information collection titled ‘‘Leveraged Lending.’’ DATES: Comments must be received by January 14, 2019. ADDRESSES: Commenters are encouraged to submit comments by email, if SUMMARY: PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 56399 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: 1557–0315, 400 7th Street SW, Suite 3E–218, Washington, DC 20219. • Hand Delivery/Courier: 400 7th Street SW, Suite 3E–218, Washington, DC 20219. Instructions: You must include ‘‘OCC’’ as the agency name and ‘‘1557– 0315’’ 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 ‘‘1557–0315’’ or ‘‘Leveraged Lending.’’ 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 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. E:\FR\FM\13NON1.SGM 13NON1 amozie on DSK3GDR082PROD with NOTICES1 56400 Federal Register / Vol. 83, No. 219 / Tuesday, November 13, 2018 / Notices 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, 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 recommendations, 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 (44 U.S.C. 3506(c)(2)(A)) 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 proposed collection of information set forth in this document. Title: Leveraged Lending. OMB Control No.: 1557–0315. Description: On March 22, 2013, the agencies 2 issued guidance to the financial institutions they supervise 3 on how to evaluate and monitor credit risks in leveraged loans, understand the effect of changes in borrowers’ enterprise values on credit portfolio quality, and assess the sensitivity of future credit losses to these changes in enterprise values.4 In regard to the underwriting of such credits, the guidance provides information for financial institutions to consider in assessing whether borrowers have the ability to repay credits when due and whether borrowers have sustainable capital structures, including bank borrowings and other debt, to support their continued operations through economic cycles. The guidance also provides information to financial institutions on the risks and potential impact of stressful events and circumstances on a borrower’s financial condition. The final guidance recommends that financial institutions consider 2 OCC, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation. 3 For the OCC, the term ‘‘financial institution’’ or ‘‘institution’’ includes national banks, federal savings associations, and federal branches and agencies supervised by the OCC. 4 78 FR 17766 (March 22, 2013). VerDate Sep<11>2014 17:34 Nov 09, 2018 Jkt 247001 developing: (i) Underwriting policies for leveraged lending, including stresstesting procedures for leveraged credits; (ii) risk management policies, including stress-testing procedures for pipeline exposures; and, (iii) policies and procedures for incorporating the results of leveraged credit and pipeline stress tests into the firm’s overall stress-testing framework. While not requirements, these recommended policies qualify as ‘‘collections of information’’ as defined in the PRA. Respondents are financial institutions with leveraged lending activities as defined in the guidance that may develop policies recommended in the guidance. Title: Guidance on Leveraged Lending. OMB Control No.: 1557–0315. Frequency of Response: Annual. Affected Public: Financial institutions with leveraged lending. Burden Estimates: Estimated number of respondents: 29. Estimated total annual burden: 39,162 hours to build; 49,462 hours for ongoing use. Total estimated annual burden: 88,624 hours. Comments submitted in response to this notice will be summarized, included in the request for OMB approval, and become a matter of public record. Comments are invited on: (a) Whether the information collections are necessary for the proper performance of the OCC’s functions, including whether the information has practical utility; (b) The accuracy of the OCC’s estimates of the burden of the information collections, including the validity of the methodology and assumptions used; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of information collections on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information. Dated: November 6, 2018. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2018–24616 Filed 11–9–18; 8:45 am] BILLING CODE 4810–33–P PO 00000 Frm 00127 Fmt 4703 Sfmt 4703 DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Comment Request; Fiduciary 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 take this opportunity to comment on a continuing information collection as required by the Paperwork Reduction Act of 1995 (PRA). An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number. The OCC is soliciting comment concerning the renewal of its information collection titled, ‘‘Fiduciary Activities.’’ DATES: You should submit written comments by January 14, 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: 1557–0140, 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– 0140’’ in your comment. In general, the OCC will publish your comment 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 SUMMARY: E:\FR\FM\13NON1.SGM 13NON1

Agencies

[Federal Register Volume 83, Number 219 (Tuesday, November 13, 2018)]
[Notices]
[Pages 56399-56400]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-24616]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Leveraged Lending

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 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 the renewal of its 
information collection titled ``Leveraged Lending.''

DATES: Comments must be received by January 14, 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: 1557-0315, 400 
7th Street SW, Suite 3E-218, Washington, DC 20219.
     Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0315'' 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:
---------------------------------------------------------------------------

    \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 ``1557-0315'' or ``Leveraged Lending.'' 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

[[Page 56400]]

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, 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 
recommendations, 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 (44 U.S.C. 3506(c)(2)(A)) 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 proposed collection of 
information set forth in this document.
    Title: Leveraged Lending.
    OMB Control No.: 1557-0315.
    Description: On March 22, 2013, the agencies \2\ issued guidance to 
the financial institutions they supervise \3\ on how to evaluate and 
monitor credit risks in leveraged loans, understand the effect of 
changes in borrowers' enterprise values on credit portfolio quality, 
and assess the sensitivity of future credit losses to these changes in 
enterprise values.\4\ In regard to the underwriting of such credits, 
the guidance provides information for financial institutions to 
consider in assessing whether borrowers have the ability to repay 
credits when due and whether borrowers have sustainable capital 
structures, including bank borrowings and other debt, to support their 
continued operations through economic cycles. The guidance also 
provides information to financial institutions on the risks and 
potential impact of stressful events and circumstances on a borrower's 
financial condition.
---------------------------------------------------------------------------

    \2\ OCC, Board of Governors of the Federal Reserve System, and 
Federal Deposit Insurance Corporation.
    \3\ For the OCC, the term ``financial institution'' or 
``institution'' includes national banks, federal savings 
associations, and federal branches and agencies supervised by the 
OCC.
    \4\ 78 FR 17766 (March 22, 2013).
---------------------------------------------------------------------------

    The final guidance recommends that financial institutions consider 
developing: (i) Underwriting policies for leveraged lending, including 
stress-testing procedures for leveraged credits; (ii) risk management 
policies, including stress-testing procedures for pipeline exposures; 
and, (iii) policies and procedures for incorporating the results of 
leveraged credit and pipeline stress tests into the firm's overall 
stress-testing framework. While not requirements, these recommended 
policies qualify as ``collections of information'' as defined in the 
PRA.
    Respondents are financial institutions with leveraged lending 
activities as defined in the guidance that may develop policies 
recommended in the guidance.
    Title: Guidance on Leveraged Lending.
    OMB Control No.: 1557-0315.
    Frequency of Response: Annual.
    Affected Public: Financial institutions with leveraged lending.
    Burden Estimates:
    Estimated number of respondents: 29.
    Estimated total annual burden: 39,162 hours to build; 49,462 hours 
for ongoing use.
    Total estimated annual burden: 88,624 hours.
    Comments submitted in response to this notice will be summarized, 
included in the request for OMB approval, and become a matter of public 
record. Comments are invited on:
    (a) Whether the information collections are necessary for the 
proper performance of the OCC's functions, including whether the 
information has practical utility;
    (b) The accuracy of the OCC's estimates of the burden of the 
information collections, including the validity of the methodology and 
assumptions used;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of information collections on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    (e) Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: November 6, 2018.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2018-24616 Filed 11-9-18; 8:45 am]
 BILLING CODE 4810-33-P
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