[Federal Register Volume 71, Number 82 (Friday, April 28, 2006)]
[Notices]
[Pages 25281-25282]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-6451]


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DEPARTMENT OF THE TREASURY

Office of Thrift Supervision


Proposed Agency Information Collection Activities; Comment 
Request--Fiduciary Powers of Federal Savings Associations

AGENCY: Office of Thrift Supervision (OTS), Treasury.

ACTION: Notice and request for comment.

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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 comment on proposed and continuing 
information collections, as required by the Paperwork Reduction Act of 
1995, 44 U.S.C. 3507. The Office of Thrift Supervision within the 
Department of the Treasury will submit the proposed information 
collection requirement described below to the Office of Management and 
Budget (OMB) for review, as required by the Paperwork Reduction Act. 
Today, OTS is soliciting public comments on its proposal to revise this 
information collection.

DATES: Submit written comments on or before June 27, 2006.

ADDRESSES: Send comments, referring to the collection by title of the 
proposal or by OMB approval number, to Information Collection Comments, 
Chief Counsel's Office, Office of Thrift Supervision, 1700 G Street, 
NW., Washington, DC 20552; send a facsimile transmission to (202) 906-
6518; or send an e-mail to [email protected]. OTS 
will post comments and the related index on the OTS Internet Site at 
www.ots.treas.gov. In addition, interested persons may inspect comments 
at the Public Reading Room, 1700 G Street, NW., by appointment. To make 
an appointment, call (202) 906-5922, send an e-mail to 
public.info@ots.treas.gov">public.info@ots.treas.gov, or send a facsimile transmission to (202) 
906-7755.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
about this proposed information collection revision from John R. 
Rudolph, Trust Policy Specialist, Office of Thrift Supervision, 1700 G 
Street, NW., Washington, DC 20552; send an e-mail to 
[email protected]; or telephone (202) 906-6153.

SUPPLEMENTARY INFORMATION: OTS may not conduct or sponsor an 
information collection, and respondents are not required to respond to 
an information collection, unless the information collection displays a 
currently valid OMB control number. As part of the approval process, we 
invite comments on the following information collection.
    Comments should address one or more of the following points:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the functions of OTS;
    b. The accuracy of OTS's estimate of the burden of the proposed 
information collection;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    d. Ways to minimize the burden of the information collection on 
respondents, including through the use of information technology.
    We will summarize the comments that we receive and include them in 
the OTS request for OMB approval. All comments will become a matter of 
public record. In this notice, OTS is soliciting comments concerning 
the following information collection.
    Title of Proposal: Fiduciary Powers of Federal Savings 
Associations.
    OMB Number: 1550-0037.
    Form Number: OTS Form 1240.
    Regulation requirement: 12 CFR 550.70(a), (b), and (c); 12 CFR 
550.80 through 120; 12 CFR 550.125.
    Description: OTS must know when a Federal savings association is 
acting in a fiduciary capacity in order to establish effective 
oversight of those activities. This comment request addresses revisions 
to OTS Form 1240--Application for Fiduciary Powers. The form is being 
revised to update the information OTS requires in order to make a 
determination whether to approve or deny an application for fiduciary 
powers.
    12 CFR 550.70(a) requires that a Federal savings association that 
wants to conduct fiduciary activities for the first time, and for which 
OTS has not previously approved an application submitted under this 
part, must obtain prior approval from OTS before it may conduct the 
activities. 12 CFR 550.70(b) requires that a Federal savings 
association that wants to conduct fiduciary activities that are 
materially different from the activities that OTS has previously 
approved for it, including fiduciary activities that OTS has previously 
approved that have not

[[Page 25282]]

been exercised for at least five years, must obtain prior approval from 
OTS before it may conduct the activities. 12 CFR 550.80 through 120 
describe the process for obtaining OTS approval of the application for 
fiduciary powers. Instructions for filing the application are found at 
12 CFR 516, subpart A.
    In addition, Sec.  550.70(c) of OTS's regulations requires that a 
federal savings association that wants to commence in a new state 
fiduciary activities that are not materially different from those that 
OTS has already approved, must file a notice with OTS. Instructions for 
filing the notice are found at 12 CFR 550.125.
    Type of Review: Revision.
    Affected Public: Federal savings associations.
    Estimated Number of Respondents: Application--12 respondents; 
Notice--10 respondents.
    Estimated Number of Responses: Application--12 respondents; 
Notice--10 respondents.
    Estimated Burden Hours per Response: Application--27 hours; 
Notice--3 hours.
    Estimated Frequency of Response: Event-generated.
    Estimated Total Burden: 354 hours.
    Clearance Officer: Marilyn K. Burton, (202) 906-6467, Office of 
Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.

    Dated: April 24, 2006.
Deborah Dakin,
Senior Deputy Chief Counsel, Regulations and Legislation Division.
[FR Doc. E6-6451 Filed 4-27-06; 8:45 am]
BILLING CODE 6720-01-P