[Federal Register Volume 71, Number 163 (Wednesday, August 23, 2006)]
[Notices]
[Pages 49502-49503]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-13924]


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DEPARTMENT OF THE TREASURY

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 it displays a 
currently valid OMB control number. The OCC is soliciting comment 
concerning its information collection titled, ``Investment Securities 
(12 CFR part 1).'' The OCC also gives notice that it has sent the 
information collection to the Office of Management and Budget (OMB) for 
review.

DATES: You should submit written comments by September 22, 2006.

[[Page 49503]]


ADDRESSES: You should direct your comments to: 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. 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, 1557-0205, 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, OCC Clearance Officer, 
or Camille Dickerson, (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 1.4(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.
    The OCC issued a 60-day notice for comment on May 24, 2006. 71 FR 
30021. No comments were received. Comments continued to be 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: August 16, 2006.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory Activities Division.
 [FR Doc. E6-13924 Filed 8-22-06; 8:45 am]
BILLING CODE 4810-33-P