[Federal Register Volume 75, Number 140 (Thursday, July 22, 2010)]
[Notices]
[Pages 42823-42824]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-18006]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Proposed Information 
Collection; Comment Request

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comments.

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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 proposed 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. Currently, the OCC is soliciting comments 
concerning an information collection titled ``Guidance on Sound 
Incentive Compensation Practices.''

DATES: Written comments should be submitted by September 20, 2010.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Mailstop 2-3, Attention 1557-0245, 250 E Street, SW., 
Washington, DC 20219. In addition, comments may be sent by facsimile 
transmission to (202) 874-5274, or by electronic mail to 
[email protected]. You may personally inspect and photocopy 
comments at the OCC, 250 E Street, SW., Washington, DC 20219. For 
security reasons, the OCC requires that visitors make an appointment to 
inspect comments. You may do so by calling (202) 874-4700. Upon 
arrival, visitors will be required to present valid government-issued 
photo identification and to submit to security screening in order to 
inspect and photocopy comments.
    Additionally, you should send a copy of your comments by mail to: 
OCC Desk Officer, 1557-0245, U.S. Office of Management and Budget, 725 
17th Street, NW., 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 H. Gottlieb, (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 requesting regular clearance of a 
collection for which it received emergency approval.\1\
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    \1\ 75 FR 36395 (June 25, 2010).
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    Title: Guidance on Sound Incentive Compensation Policies.
    OMB Number: 1557-0245.
    Abstract: Under the guidance, national banks are required to: (i) 
Have policies and procedures that identify and describe the role(s) of 
the personnel and units authorized to be involved in incentive 
compensation arrangements, identify the source of significant risk-
related inputs, establish appropriate controls governing these inputs 
to help ensure their integrity, and identify the individual(s) and 
unit(s) whose approval is necessary for the

[[Page 42824]]

establishment or modification of incentive compensation arrangements; 
(ii) create and maintain sufficient documentation to permit an audit of 
the organization's processes for incentive compensation arrangements; 
(iii) have any material exceptions or adjustments to the incentive 
compensation arrangements established for senior executives approved 
and documented by its board of directors; and (iv) have its board of 
directors receive and review, on an annual or more frequent basis, an 
assessment by management of the effectiveness of the design and 
operation of the organization's incentive compensation system in 
providing risk-taking incentives that are consistent with the 
organization's safety and soundness.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 1,033 large banks; 617 small 
banks.
    Estimated Burden per Respondent: 480 hours for large banks to 
modify policies and procedures to monitor incentive compensation. 80 
hours for small banks to establish or modify policies and procedures to 
monitor incentive compensation. 40 hours annually for all banks to 
maintain policies and procedures to monitor incentive compensation 
arrangements.
    Frequency of Response: Annually.
    Total Annual Burden: 611,200 hours.
    All comments will be considered in formulating the subsequent 
submission and 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 OCC, including whether the 
information has practical utility;
    (b) The accuracy of the OCCs estimate of the information collection 
burden;
    (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: July 19, 2010.
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Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency.
[FR Doc. 2010-18006 Filed 7-21-10; 8:45 am]
BILLING CODE 4810-33-P