Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Leveraged Lending, 12326-12327 [2019-06151]
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Federal Register / Vol. 84, No. 62 / Monday, April 1, 2019 / Notices
7th Street SW, suite 3E–218,
Washington, DC 20219.
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. The OCC asks that OMB
extend its approval of this collection.
Title: Funding and Liquidity Risk
Management.
OMB Control No.: 1557–0244.
Description: The Interagency Policy
Statement on Funding and Liquidity
Risk Management 2 (Policy Statement)
summarizes the principles of sound
liquidity risk management that the
federal banking agencies have issued in
the past 3 and, where appropriate,
harmonizes these principles with the
international statement issued by the
Basel Committee on Banking
Supervision titled ‘‘Principles for Sound
Liquidity Risk Management and
Supervision.’’ 4 The Policy Statement
describes supervisory expectations for
all depository institutions including
banks, savings associations, and credit
unions.
Section 14 of the Policy Statement
provides that financial institutions
should consider liquidity costs, benefits,
and risks in strategic planning and
budgeting processes. Significant
business activities should be evaluated
for liquidity risk exposure as well as
profitability. More complex and
sophisticated financial institutions
should incorporate liquidity costs,
benefits, and risks in the internal
product pricing, performance
measurement, and new product
approval process for all material
business lines, products, and activities.
SUPPLEMENTARY INFORMATION:
2 75
FR 13656 (Mar. 22, 2010).
national banks and federal savings
associations, see the Comptroller’s Handbook on
Liquidity. For state member banks and bank holding
companies, see the Federal Reserve’s Commercial
Bank Examination Manual (section 4020), Bank
Holding Company Supervision Manual (section
4010), and Trading and Capital Markets Activities
Manual (section 2030). For state non-member
banks, see the FDIC’s Revised Examination
Guidance for Liquidity and Funds Management
(Trans. No. 2002–01) (Nov. 19, 2001), and Financial
Institution Letter 84–2008, Liquidity Risk
Management (August 2008). For federally insured
credit unions, see Letter to Credit Unions No. 02–
CU–05, Examination Program Liquidity
Questionnaire (March 2002).
4 Basel Committee on Banking Supervision,
‘‘Principles for Sound Liquidity Risk Management
and Supervision,’’ September 2008. See
www.bis.org/publ/bcbs144.htm. Federally insured
credit unions are not directly referenced in the
principles issued by the Basel Committee.
3 For
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Incorporating the cost of liquidity into
these functions should align the risktaking incentives of individual business
lines with the liquidity risk exposure
their activities create for the institution
as a whole. The quantification and
attribution of liquidity risks should be
explicit and transparent at the line
management level and should include
consideration of how liquidity would be
affected under stressed conditions.
Section 20 of the Policy Statement
states that liquidity risk reports should
provide aggregate information with
sufficient supporting detail to enable
management to assess the sensitivity of
the institution to changes in market
conditions, its own financial
performance, and other important risk
factors. Institutions also should report
on the use and availability of
government support, such as lending
and guarantee programs, and
implications on liquidity positions,
particularly since these programs are
generally temporary or reserved as a
source for contingent funding.
Type of Review: Regular.
Affected Public: Businesses or other
for-profit.
Estimated Number of Respondents:
1,171.
Frequency of Response: On occasion.
Estimated Total Burden Hours: 84,464
hours.
Comments: On December 4, 2018, the
OCC issued a notice for 60 days of
comment concerning this collection, 83
FR 62671. No comments were received.
Comments continue to be solicited on:
(a) Whether the information
collections are 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
information collections 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 the
services necessary to provide the
required information.
Dated: March 25, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2019–06154 Filed 3–29–19; 8:45 am]
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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;
Leveraged Lending
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.’’ The OCC also is giving notice
that it has sent the collection to OMB for
review.
DATES: Comments must be received by
May 1, 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: Chief Counsel’s Office, 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.
• Fax: (571) 465–4326.
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 provided, 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.
SUMMARY:
E:\FR\FM\01APN1.SGM
01APN1
Federal Register / Vol. 84, No. 62 / Monday, April 1, 2019 / Notices
Additionally, please send a copy of
your comments by mail to: OCC Desk
Officer, 1557–0315, U.S. Office of
Management and Budget, 725 17th
Street NW, #10235, Washington, DC
20503 or by email to oira_submission@
omb.eop.gov.
You may review comments and other
related materials that pertain to this
information collection 1 following the
close of the 30-day comment period for
this notice 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
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.
1 On November 13, 2018, the OCC published a 60day notice for this information collection.
VerDate Sep<11>2014
17:22 Mar 29, 2019
Jkt 247001
Under the
PRA (44 U.S.C. 3501–3520), federal
agencies must obtain approval from
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
recommendations, requests, or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. The OCC
asks OMB to extend its approval of this
collection.
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 guidance recommends that
financial institutions consider
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
SUPPLEMENTARY INFORMATION:
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).
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12327
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.
The OCC issued a notice regarding
this collection for 60 days of comment
on November 13, 2018, 83 FR 56399. No
comments were received. Comments
continue to be 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: March 25, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2019–06151 Filed 3–29–19; 8:45 am]
BILLING CODE 4810–33–P
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Agencies
[Federal Register Volume 84, Number 62 (Monday, April 1, 2019)]
[Notices]
[Pages 12326-12327]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-06151]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; 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.'' The OCC also is
giving notice that it has sent the collection to OMB for review.
DATES: Comments must be received by May 1, 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: Chief Counsel's Office, 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.
Fax: (571) 465-4326.
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 provided, 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.
[[Page 12327]]
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0315, U.S. Office of Management and Budget, 725 17th
Street NW, #10235, Washington, DC 20503 or by email to
[email protected].
You may review comments and other related materials that pertain to
this information collection \1\ following the close of the 30-day
comment period for this notice by any of the following methods:
---------------------------------------------------------------------------
\1\ On November 13, 2018, the OCC published a 60-day notice for
this information 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 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 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
recommendations, requests, or requirements that members of the public
submit reports, keep records, or provide information to a third party.
The OCC asks OMB to extend its approval of this collection.
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 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.
The OCC issued a notice regarding this collection for 60 days of
comment on November 13, 2018, 83 FR 56399. No comments were received.
Comments continue to be 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: March 25, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-06151 Filed 3-29-19; 8:45 am]
BILLING CODE 4810-33-P