Proposed Rule 17f-7 would set certain
requirements for maintaining the assets of a registered management
investment company with a foreign securities depository. An
eligible securities depository would have to meet certain minimum
standards. In addition, the investment company would have to obtain
adequate indemnification or insurance against custody risks, or its
contract with its primary custodian would have to state that the
custodian will provide a custody risk analysis of each depository,
monitor risks, provide prompt notice of material changes in risks,
and agree to exercise reasonable care.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.