[Federal Register Volume 66, Number 69 (Tuesday, April 10, 2001)]
[Notices]
[Page 18684]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-8737]



[[Page 18684]]

-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Office of the Under Secretary for Domestic Finance; Proposed 
Collection; Comment Request

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: The Department of the Treasury, 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 proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the Office of the Under Secretary for 
Domestic Finance of the Department of the Treasury is soliciting 
comments concerning the record keeping and reporting requirements 
contained in the final rule governing merchant banking investments that 
it adopted jointly with the Federal Reserve Board pursuant to the 
Gramm-Leach-Bliley Act, Public Law 106-102, 113 Stat. 1338 (GLBA).

DATES: Written comments should be received on or before June 11, 2001, 
to be assured of consideration.

ADDRESSES: Direct all written comments to Merchant Banking Regulation, 
Office of Financial Institutions Policy, 1500 Pennsylvania Ave., NW., 
Room SC37, Washington, DC 20220.

FOR FURTHER INFORMATION CONTACT: Edward J. DeMarco, Acting Director, 
Office of Financial Institutions Policy, (202) 622-2730, or Gary W. 
Sutton, Senior Banking Counsel, (202) 622-1976.

SUPPLEMENTARY INFORMATION:
    Title: Risk management, record keeping and reporting policies 
required to make merchant banking investments.
    OMB Number: 1505-0182.
    CFR Cite: 12 CFR 1500.6.
    Abstract: Section 103 of the GLBA authorizes the Secretary of the 
Treasury (Treasury) and the Board of Governors of the Federal Reserve 
System (Board) jointly to adopt regulations implementing the authority 
of financial holding companies to make merchant banking investments. 
Pursuant to that rulemaking authority, Treasury and the Board jointly 
adopted a final rule that imposes certain requirements and restrictions 
on financial holding companies that make merchant banking investments.
    Current Actions: The final rule adopted by Treasury and the Board 
requires financial holding companies engaged in merchant banking to 
have and maintain certain policies, procedures, records, and systems to 
appropriately monitor and manage their merchant banking investments.
    Type of Review: Extension.
    Affected Public: Financial holding companies.
    Estimated Number of Respondents: 450
    Estimated Time Per Respondent: 50 hours.
    Estimated Total Annual Burden Hours: 22,500 hours.

Request for Comments

    Comments submitted in response to this notice will be summarized 
and/or 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 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 to be collected; (d) 
ways to minimize the burden of the collection of information 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: April 4, 2001.
Edward J. DeMarco,
Acting Director, Office of Financial Institutions Policy.
[FR Doc. 01-8737 Filed 4-9-01; 8:45 am]
BILLING CODE 4810-25-P