60-Day FR Notice

16590

Federal Register / Vol. 90, No. 74 / Friday, April 18, 2025 / Notices

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Comment Request; Market
Risk
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for
comment.
AGENCY:

The OCC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites
comment on a continuing information
collection, as required by the Paperwork
Reduction Act of 1995 (PRA). In
accordance with the requirements of the
PRA, the OCC may not conduct or
sponsor, and the 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 the
renewal of its information collection
titled, ‘‘Market Risk.’’
DATES: Comments must be received by
June 17, 2025.
ADDRESSES: Commenters are encouraged
to submit comments by email, if
possible. You may submit comments by
any of the following methods:
• Email: prainfo@occ.treas.gov.
• Mail: Chief Counsel’s Office,
Attention: Comment Processing, Office
of the Comptroller of the Currency,
Attention: 1557–0247, 400 7th Street
SW, Suite 3E–218, Washington, DC
20219.
• Hand Delivery/Courier: 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
• Fax: (571) 293–4835.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0247’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov without change,
including any business or personal
information provided, such as name and
address information, email addresses, or
phone numbers. Comments received,
including attachments and other
supporting materials, are part of the
public record and subject to public
disclosure. Do not include any
information in your comment or
supporting materials that you consider
confidential or inappropriate for public
disclosure.
Following the close of this notice’s
60-day comment period, the OCC will
publish a second notice with a 30-day
comment period. You may review

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comments and other related materials
that pertain to this information
collection beginning on the date of
publication of the second notice for this
collection by the method set forth in the
next bullet.
• Viewing Comments Electronically:
Go to www.reginfo.gov. Hover over the
‘‘Information Collection Review’’ tab
and click on ‘‘Information Collection
Review’’ from the drop-down menu.
From the ‘‘Currently under Review’’
drop-down menu, select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching OMB control number ‘‘1557–
0247’’ or ‘‘Market Risk.’’ Upon finding
the appropriate information collection,
click on the related ‘‘ICR Reference
Number.’’ On the next screen, select
‘‘View Supporting Statement and Other
Documents’’ and then click on the link
to any comment listed at the bottom of
the screen.
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, Clearance Officer,
(202) 649–5490, Chief Counsel’s Office,
Office of the Comptroller of the
Currency, 400 7th Street SW,
Washington, DC 20219. If you are deaf,
hard of hearing, or have a speech
disability, please dial 7–1–1 to access
telecommunications relay services.
SUPPLEMENTARY INFORMATION: Under the
PRA (44 U.S.C. 3501 et seq.), Federal
agencies must obtain approval from the
OMB for each collection of information
that they conduct or sponsor.
‘‘Collection of information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) to include agency requests or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. Section
3506(c)(2)(A) of title 44 generally
requires Federal agencies to provide a
60-day notice in the Federal Register
concerning each proposed collection of
information, including each proposed
extension of an existing collection of
information, before submitting the
collection to OMB for approval. To
comply with this requirement, the OCC
is publishing notice of the renewal of
this collection.
Title: Market Risk.
OMB Control No.: 1557–0247.
Type of Review: Regular.
Affected Public: Individuals;
Businesses or other for-profit.
Description: The OCC’s market risk
capital rule (12 CFR part 3, subpart F)
applies to national banks and Federal
savings associations with significant

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exposure to market risk, which include
those national banks and Federal
savings associations with aggregate
trading assets and trading liabilities (as
reported in the national bank’s or
Federal savings association’s most
recent Call Report) equal to 10 percent
or more of quarter-end total assets or $1
billion or more. The rule captures
positions for which the market risk
capital rule is appropriate; reduces
procyclicality in market risk capital
requirements; enhances the risk
sensitivity of the OCC’s capital
requirements by measuring risks that are
not adequately captured under the
requirements for credit risk; and
increases transparency through
enhanced disclosures.
The information collection
requirements are located at 12 CFR
3.203 through 3.212. The rule enhances
risk sensitivity and includes
requirements for the public disclosure
of certain qualitative and quantitative
information about the market risk of
national banks and Federal savings
associations. The collection of
information is necessary to ensure
capital adequacy appropriate for the
level of market risk.
Section 3.203 sets forth the
requirements for applying the market
risk framework. Section 3.203(a)(1)
requires national banks and Federal
savings associations to have clearly
defined policies and procedures for
determining which trading assets and
trading liabilities are trading positions
and specifies the factors a national bank
or Federal savings association must
consider in drafting those policies and
procedures. Section 3.203(a)(2) requires
national banks and Federal savings
associations to have clearly defined
trading and hedging strategies for
trading positions that are approved by
senior management and specifies what
those strategies must articulate. Section
3.203(b)(1) requires national banks and
Federal savings associations to have
clearly defined policies and procedures
for actively managing all covered
positions and specifies the minimum
requirements for those policies and
procedures. Section 3.203(c)(1) requires
national banks and Federal savings
associations to obtain prior written
approval of the OCC before using any
internal model to calculate their riskbased capital requirements under the
rule. Sections 3.203(c)(4) through
3.203(c)(10) require the review, at least
annually, of internal models and specify
certain requirements for those models.
Section 3.203(d)(4) requires the internal
audit group of a national bank or
Federal savings association to report, at
least annually, to the board of directors

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Federal Register / Vol. 90, No. 74 / Friday, April 18, 2025 / Notices
on the effectiveness of controls
supporting the market risk measurement
systems.
Section 3.204(b) requires national
banks and Federal savings associations
to conduct quarterly backtesting.
Section 3.205(a)(5) requires institutions
to demonstrate to the OCC the
appropriateness of any proxies used to
capture risks within value-at-risk
models. Section 3.205(c) requires
institutions to develop, retain, and make
available to the OCC value-at-risk and
profit and loss information on subportfolios for two years. Section
3.206(b)(3) requires national banks and
Federal savings associations to have
policies and procedures that describe
how they determine the period of
significant financial stress used to
calculate the institution’s stressed
value-at-risk models and to obtain prior
OCC approval for any material changes
to these policies and procedures.
Section 3.207(b)(1) details
requirements applicable to a national
bank or Federal savings association
when the national bank or Federal
savings association uses internal models
to measure the specific risk of certain
covered positions. Section 3.208
requires national banks and Federal
savings associations to obtain prior OCC
approval for incremental risk modeling
of portfolios of equity positions and
describes the requirements for
incremental risk modeling. Section
3.209 requires prior OCC approval for
the use of a comprehensive risk measure
and describes applicable requirements.
Section 3.209(c)(2) requires national
banks and Federal savings associations
to retain and make available to the OCC
the results of supervisory stress testing.
Section 3.210(f) requires national banks
and Federal savings associations to
document an internal analysis of the
risk characteristics of each
securitization position in order to
demonstrate to the satisfaction of the
OCC an understanding of the position.
Section 3.212 requires quarterly
quantitative disclosures, annual
qualitative disclosures, and a formal
disclosure policy approved by the board
of directors that addresses the approach
for determining the market risk
disclosures it makes.
Estimated Burden per Respondent:
1,964.
Estimated Frequency of Response: On
occasion.
Estimated Number of Respondents:
17.
Estimated Total Annual Burden:
33,388 hours.
Comments submitted in response to
this notice will be summarized and
included in the request for OMB

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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 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.
Patrick T. Tierney,
Assistant Director, Office of the Comptroller
of the Currency.
[FR Doc. 2025–06658 Filed 4–17–25; 8:45 am]
BILLING CODE 4810–33–P

DEPARTMENT OF THE TREASURY
Internal Revenue Service
Agency Collection Activities;
Requesting Comments on Form 8717
and Form 8717–A
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:

The Internal Revenue Service,
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 proposed and/or
continuing information collections, as
required by the Paperwork Reduction
Act of 1995. The IRS is soliciting
comments concerning Form 8717, User
Fee for Employee Plan Determination
Letter Request, and Form 8717–A, User
Fee for Employee Plan Opinion Letter
Request.
DATES: Written comments should be
received on or before June 17, 2025 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Andres Garcia, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
by email to omb.unit@irs.gov. Include
OMB Control Number 1545–1772 in the
subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
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16591

copies of this collection should be
directed to Jason Schoonmaker, (801)
620–2128, at Internal Revenue Service,
Room 6526, 1111 Constitution Avenue
NW, Washington, DC 20224, or through
the internet at jason.m.schoonmaker@
irs.gov.
The IRS is
currently seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
Title: User Fee for Employee Plan
Determination or Opinion Letter
Request.
OMB Control Number: 1545–1772.
Form Number: Form 8717 and Form
8717–A.
Abstract: Internal Revenue Code
section 7528 requires the payment of
user fees for requests to the IRS for
ruling letters, opinion letters, and
determination letters. Forms 8717 and
8717–A are used by employee plan
providers and sponsors to pay the
appropriate fee or a supplemental fee if
the payment was not submitted with the
initial request.
Current Actions: There is no change to
the existing collection; however, the
total burden has been reduced due to
better estimates.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, and not-for-profit
institutions.
Estimated Number of Responses:
1,200.
Estimated Time per Respondent: 2
hours, 38 minutes.
Estimated Total Annual Burden
Hours: 3,150.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or 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

SUPPLEMENTARY INFORMATION:

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