E8-25093. Recordkeeping and Confirmation Requirements for Securities Transactions

AGENCY:

Office of Thrift Supervision (OTS), Treasury.

ACTION:

Notice and request for comment.

SUMMARY:

The proposed information collection request (ICR) described below has been submitted to the Office of Management and Budget (OMB) for review and approval, as required by the Paperwork Reduction Act of 1995. OTS is soliciting public comments on the proposal.

DATES:

Submit written comments on or before November 21, 2008. A copy of this ICR, with applicable supporting documentation, can be obtained from RegInfo.gov at http://www.reginfo.gov/​public/​do/​PRAMain.

ADDRESSES:

Send comments, referring to the collection by title of the proposal or by OMB approval number, to OMB and OTS at these addresses: Office of Information and Regulatory Affairs, Attention: Desk Officer for OTS, U.S. Office of Management and Budget, 725—17th Street, NW., Room 10235, Washington, DC 20503, or by fax to [phone]; and Information Collection Comments, Chief Counsel's Office, Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552, by fax to [phone], or by e-mail to [e-mail]. OTS will post comments and the related index on the OTS Internet site at http://www.ots.treas.gov. In addition, interested persons may inspect comments at the Public Reading Room, 1700 G Street, NW., by appointment. To make an appointment, call [phone], send an e-mail to [e-mail], or send a facsimile transmission to [phone].

FOR FURTHER INFORMATION CONTACT:

For further information or to obtain a copy of the submission to OMB, please contact Ira L. Mills at [e-mail], [phone], or facsimile number [phone], Regulations and Legislation Division, Chief Counsel's Office, Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.

SUPPLEMENTARY INFORMATION:

OTS may not conduct or sponsor an information collection, and respondents are not required to respond to an information collection, unless the information collection displays a currently valid OMB control number. As part of the approval process, we invite comments on the following information collection.

Title of Proposal: Recordkeeping and Confirmation Requirements for Securities Transactions.

OMB Number: 1550-0109.

Form Number: N/A.

Description: The regulation found at 12 CFR Part 551 imposes recordkeeping and confirmation requirements for savings associations that effect securities transactions. The recordkeeping and confirmation regulation ensures that savings association customers receive the same protections and disclosures provided to brokerage customers; ensures savings associations effect securities transactions safely and soundly; and provides savings associations with formal guidance when they effect securities transactions.

Type of Review: Extension of a currently approved collection.

Affected Public: Business or other for-profit.

Estimated Number of Responses: 829.

Estimated Burden Hours per Response: 1 hour each for recordkeeping, confirmation and reports by officers and employees; 2 hours for updating policies; and 10 hours for new written policies.

Estimated Frequency of Response: On occasion.

Estimated Total Burden: 4,235 hours.

Clearance Officer: Ira L. Mills, [phone], Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.

Dated: October 16, 2008.

Deborah Dakin,

Senior Deputy Chief Counsel, Regulations and Legislation Division.