[Federal Register Volume 71, Number 78 (Monday, April 24, 2006)]
[Notices]
[Pages 21092-21093]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-6031]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Proposed 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 
collection titled ``Securities Offering Disclosure Rules--12 CFR Part 
16''. The OCC is also giving notice that the information collection has 
been submitted to OMB for review.

DATES: You should submit written comments by: May 24, 2006.

ADDRESSES: You should direct all written comments to the Communications 
Division, Public Information Room, Mailstop 1-5, Attention: 1557-0120, 
250 E Street, SW., Washington, DC 20219. In addition, comments may be 
sent by fax to (202) 874-4448, or by electronic 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.
    Additionally, you should send a copy of your comments to OCC Desk 
Officer, 1557-0120, by mail to U.S. Office of Management and Budget, 
725, 17th Street, NW., 10235, Washington, DC 20503, or by fax 
to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Mary Gottlieb or Camille Dickerson, 
(202) 874-5090, Legislative and Regulatory Activities Division, Office 
of the

[[Page 21093]]

Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is requesting that OMB extend the 
expiration date on the following information collection:
    Title: Securities Offering Disclosure Rules--12 CFR Part 16.
    OMB Number: 1557-0120.
    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 approve its estimates, 
revised to more accurately reflect the number of reports filed and the 
hours required to complete such reports.
    The requirements in part 16 enable the OCC to perform its 
responsibilities relating to offerings of securities by national banks 
by providing the investing public with facts about the condition of the 
bank, the reasons for raising new capital, and the terms of the 
offering. The public needs this information to make an informed 
decision on whether such securities are an appropriate investment.
     Section 16.3 requires a national bank to file its 
registration statement with the OCC.
     Section 16.5 provides exemptions for certain offers or 
sales of banks securities, which, in turn, require certain filings.
     Section 16.6 requires a national bank to file documents 
with the OCC and to make certain disclosures to purchasers in sales of 
nonconvertible debt.
     Section 16.7 provides exemptions for certain nonpublic 
offerings, which, in turn, require certain filings.
     Section 16.8 provides small issues exemptions, which, in 
turn, require certain filings.
     Section 16.15 requires a national bank to file a 
registration statement and sets forth content requirements for the 
registration statement.
     Section 16.20 requires a national bank to file current and 
periodic reports as required by sections 13 and 15(d) of the Exchange 
Act and those provisions of the Sarbanes-Oxley Act that the OCC is 
authorized to enforce. In addition, the OCC requires a national bank to 
give notice to it when the bank's duty to file public and periodic 
reports with the OCC is suspended. This requirement reflects SEC Rule 
15d6.
     Section 16.30 requires a national bank to include certain 
elements and follow certain procedures in any request to the OCC for a 
no-objection letter.
    Estimated number of respondents: 81.
    Estimated number of responses: 191.
    Average hours per response: Varies.
    Estimated total burden hours: 5,333 hours.
    Likely respondents: National banks.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit.
    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 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 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: April 18, 2006.
Stuart Feldstein,
Assistant Director, Legislative & Regulatory Activities Division.
[FR Doc. E6-6031 Filed 4-21-06; 8:45 am]
BILLING CODE 4810-33-P