[Federal Register Volume 68, Number 110 (Monday, June 9, 2003)]
[Notices]
[Pages 34481-34482]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-14357]


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

DEPARTMENT OF THE TREASURY

Comptroller of the Currency


Agency Information Collection Activities: Proposed Extension of 
Information Collection; Comment Request

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

[[Page 34482]]

collection, as required by the Paperwork Reduction Act of 1995. 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 its 
information collection titled, ``Investment Securities (12 CFR part 
1).''

DATES: You should submit written comments by August 8, 2003.

ADDRESSES: You should direct comments to the Communications Division, 
Office of the Comptroller of the Currency, Public Information Room, 
Mailstop 1-5, Attention: 1557-0205, 250 E Street, SW., Washington, DC 
20219. Due to delays in paper mail in the Washington area, commenters 
are encouraged to submit comments by fax or e-mail. Comments may be 
sent by fax to (202) 874-4448, or by e-mail to 
[email protected]. You can inspect and photocopy the comments 
at the OCC's Public Information Room, 250 E Street, SW., Washington, DC 
20219. You can make an appointment to inspect the comments by calling 
(202) 874-5043.
    A copy of the comments should also be sent to the OMB Desk Officer 
for the OCC: Joseph F. Lackey, Jr., Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503, or by e-mail to 
[email protected].

FOR FURTHER INFORMATION CONTACT: You can request additional information 
from Jessie Dunaway, OCC Clearance Officer, or Camille Dixon, (202) 
874-5090, Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval, 
without change, of the following information collection:
    Title: Investment Securities (12 CFR part 1).
    OMB Number: 1557-0205.
    Description: This submission covers an existing regulation and 
involves no change to the regulation or to the information collection 
requirements. The OCC requests only that OMB extend its approval of the 
information collection.
    The information collection requirements in 12 CFR part 1 are 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 of a currently approved collection.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 25.
    Estimated Total Annual Responses: 25.
    Estimated Total Annual Burden: 460 hours.
    Frequency of Response: On occasion.
    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: May 30, 2003.
Mark J. Tenhundfeld,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 03-14357 Filed 6-6-03; 8:45 am]
BILLING CODE 4810-33-P