[Federal Register Volume 76, Number 74 (Monday, April 18, 2011)]
[Notices]
[Page 21799]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-9238]


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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. 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, ``Fiduciary Activities of 
National Banks.''

DATES:  You should submit written comments by June 17, 2011.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Mailstop 2-3, Attention: 1557-0140, 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 may 
personally 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, you should send a copy of your comments to OCC Desk 
Officer, 1557-0140, 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 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: The OCC is requesting OMB approval for a 
revision to the following information collection:
    Title: Fiduciary Activities of National Banks--12 CFR part 9.
    OMB Control No.: 1557-0140.
    Description: This submission covers an existing regulation and 
involves no change to the regulation or to the information collection. 
The OCC requests only that OMB approve its revised estimate of the 
burden and extend its approval of the information collection. The OCC 
regulates the fiduciary activities of national banks, including the 
administration of collective investment funds pursuant to 12 U.S.C. 
92a. The requirements in 12 CFR part 9 enable the OCC to perform its 
responsibilities relating to the fiduciary activities of national banks 
and collective investment funds. The collections of information in part 
9 are found in Sec. Sec.  9.8, 9.9(a) and (b), 9.17(a), 9.18(b)(1), 
9.18(b)(6)(ii), 9.18(b)(6)(iv), and 9.18(c)(5) as follows:
     Section 9.8 requires a national bank to maintain fiduciary 
records;
     Sections 9.9(a) and (b) require a national bank to note 
the results of a fiduciary audit in the minutes of the board of 
directors;
     Section 9.17(a) requires a national bank that wants to 
surrender its fiduciary powers to file with the OCC a certified copy of 
the resolution of its board of directors;
     Section 9.18(b)(1) requires a national bank to establish 
and maintain each collective investment fund in accordance with a 
written plan, to make the plan available for public inspection, and to 
provide a copy of the plan to any person who requests it;
     Section 9.18(b)(6)(ii) requires a national bank to prepare 
a financial report of the fund;
     Section 9.18(b)(6)(iv) requires a national bank to 
disclose the financial report to investors and other interested 
persons; and
     Section 9.18(c)(5) requires a national bank to request OCC 
approval of special exemption funds.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 433.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 74,802 hours. 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 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 start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: April 12, 2011.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2011-9238 Filed 4-15-11; 8:45 am]
BILLING CODE 4810-33-P