[Federal Register Volume 68, Number 169 (Tuesday, September 2, 2003)]
[Notices]
[Pages 52267-52268]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-22288]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Submission for OMB 
Review; 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. An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless the 
information collection displays a currently valid OMB control number. 
The OCC is soliciting comment concerning its information collection 
titled, ``Investment Securities (12 CFR 1).'' The OCC also gives notice 
that it has sent the information collection to OMB for review and 
approval.

DATES: You should submit your comments to the OCC and the OMB Desk 
Officer by October 2, 2003.

ADDRESSES: You should direct comments to:
    Communications Division, Office of the Comptroller of the Currency, 
Public Information Room, Mailstop 1-5, Attention: 1557-0205-2, 250 E 
Street, SW., Washington, DC 20219. Due to delays in paper mail delivery 
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.
    Joseph F. Lackey, Jr., OMB Desk Officer for the OCC, Office of 
Information and Regulatory Affairs, Office of Management and Budget, 
New Executive Office Building, Room 10235, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection 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.

[[Page 52268]]


SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval, 
without change, of the following information collection:
    Title: Investment Securities (12 CFR 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.

    Dated: August 26, 2003.
Mark J. Tenhundfeld,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 03-22288 Filed 8-29-03; 8:45 am]
BILLING CODE 4810-33-P