[Federal Register Volume 75, Number 158 (Tuesday, August 17, 2010)]
[Notices]
[Pages 50800-50801]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-20236]


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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 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 comment on the renewal of an 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 Office of 
Management and Budget (OMB) control number. The OCC is soliciting 
comment concerning an information collection titled, ``Securities 
Offering Disclosure Rules.''

DATES: Comments must be submitted on or before October 18, 2010.

ADDRESSES:  Communications Division, Office of the Comptroller of the 
Currency, Mailstop 2-3, Attention: 1557-0120, 250 E Street, SW., 
Washington, DC 20219. In addition, comments may be sent by fax to (202) 
874-5274, or by electronic mail to [email protected]. You can 
inspect and photocopy the 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, please 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 may request additional information 
or a copy of the collection and supporting documentation submitted to 
OMB by contacting: Mary H. Gottlieb, OCC Clearance Officer, (202) 874-
5090, Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: 
    Title: Securities Offering Disclosure Rules.
    OMB Control No.: 1557-0120.
    Type of Review: Regular review.
    Description: This information collection covers an existing 
regulation and involves no change to the regulation or to the 
information collection. The OCC requests only that OMB extend its 
approval of the information collection.
    The requirements in 12 CFR 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. Part 16 generally requires national banks to conform to 
Securities and Exchange Commission rules.

[[Page 50801]]

    The collections of information in part 16 are as follows:
    Form for Registration. A national bank offering or selling its own 
securities to the public is required to make such offer or sale through 
the use of a prospectus that has been filed with the OCC as part of a 
registration statement.
    Abbreviated Form for Registration. A national bank that is a 
subsidiary of a company that has securities registered under the 
Securities Exchange Act of 1934 (Exchange Act) may offer and sell 
securities (nonconvertible debt) only to accredited investors upon 
meeting conditions in 12 CFR 16.6 and by providing an abbreviated 
information statement in a form for registration.
    Small Issues. A national bank may offer and sell securities 
publicly in a limited dollar amount by using an Offering Statement 
meeting the requirements of SEC's Regulation A (17 CFR 230.251 et 
seq.).
    Regulation D. A national bank may offer or sell its own securities 
in a private placement to accredited or sophisticated investors in 
compliance with 12 CFR 16.7.
    Form 144. A national bank must file Form 144, which contains 
information on resales of securities originally sold through the 
private placement exemption, only in certain circumstances.
    These information collection requirements ensure bank compliance 
with applicable Federal law, promote bank safety and soundness, provide 
protections for banks, and further public policy interests.
    Affected Public: Businesses or other for-profit.
    Burden Estimates:
     Estimated Number of Respondents: 48.
     Estimated Number of Responses: 48.
     Estimated Annual Burden: 450 hours.
    Frequency of Response: On occasion.
    Comments: 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 OCC, including whether the 
information has practical utility;
    (b) The accuracy of the OCC's 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 start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: August 10, 2010.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency.
[FR Doc. 2010-20236 Filed 8-16-10; 8:45 am]
BILLING CODE 4810-33-P