[Federal Register Volume 65, Number 67 (Thursday, April 6, 2000)]
[Notices]
[Pages 18148-18149]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-8503]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Proposed Renewal of Information Collection; Comment Request

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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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. Currently, the OCC is soliciting comment concerning its 
extension, without change, of an information collection titled, 
``Investment Securities--12 CFR 1.''

DATES: You should submit written comments by June 5, 2000.

ADDRESSES: You should direct all written comments to the Communications 
Division, Attention: 1557-0205, Third Floor, Office of the Comptroller 
of the Currency, 250 E Street, SW, Washington, DC 20219. In addition, 
you may send comments by facsimile transmission to (202) 874-5274, or 
by electronic mail to [email protected].

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Jessie Dunaway or Camille Dixon, (202) 
874-5090, Legislative and Regulatory Activities Division (1557-0205), 
Office of the Comptroller of the Currency, 250 E Street, SW, 
Washington, DC 20219. You can inspect and photocopy the comments at the 
OCC's Public Reference Room, 250 E Street, SW, Washington, DC, between 
9:00 a.m. and 5:00 p.m. on business days. You can make an appointment 
to inspect the comments by calling (202)874-5043.

SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval 
of the following information collection:
    Title: Investment Securities--12 CFR 1.
    OMB Number: 1557-0205.
    Form Number: None.
    Abstract: This submission covers an existing regulation and 
involves no

[[Page 18149]]

change to the regulation or to the information collections embodied in 
the regulation. The OCC requests only that OMB renew its approval of 
the information collections in the current regulation.
    The information requirements in 12 CFR part 1 are located as 
follows:
    Under 12 CFR 1.3(h)(2), a national bank may request an OCC 
determination that it may invest in an entity that is exempt from 
registration under section 3(c)(1) of the Investment Company Act of 
1940 if the portfolio of the entity consists exclusively of assets that 
a national bank may purchase and sell for its own account. The OCC uses 
the information contained in the request as a basis for determining 
that the bank's investment is consistent with its investment authority 
under applicable law and does not pose unacceptable risk.
    Under 12 CFR 1.7(b), a national bank may request OCC approval to 
extend the five-year holding period of securities held in satisfaction 
of debts previously contracted (DPC) for up to an additional five 
years. The bank must provide a clearly convincing demonstration of why 
any additional holding period is needed. The OCC uses the information 
in the request to ensure, on a case-by-case basis, that the bank's 
purpose in retaining the securities is not speculative and that the 
bank's reasons for requesting the extension are adequate, and to 
evaluate the risks to the bank of extending the holding period, 
including potential effects on bank safety and soundness.
    Type of Review: Extension, without change, of a currently approved 
collection.
    Affected Public: Businesses or other for-profit; individuals.
    Estimated Number of Respondents: 25.
    Estimated Total Annual Responses: 25.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 460 burden hours.

Comments

     Comments submitted in response to this notice will be summarized 
and included in the request for OMB approval. All comments will 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 agency, including whether 
the information has 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 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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: March 31, 2000.
Mark J. Tenhundfeld,
Assistant Director, Legislative & Regulatory Activities Division.
[FR Doc. 00-8503 Filed 4-5-00; 8:45 am]
BILLING CODE 4810-33-P