This section of the FEDERAL REGISTER
contains notices to the public of the proposed
issuance of rules and regulations. The
purpose of these notices is to give interested
persons an opportunity to participate in the
rule making prior to the adoption of the final
rules.
Proposed Rules Federal Register
43347
Vol. 69, No. 138
Tuesday, July 20, 2004
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Chap. I
[Docket No. 04–18]
BOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM
12 CFR Chap. II
[Docket No. R–1206]
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Chap. III
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
12 CFR Chap. V
[No. 2004–35]
Request for Burden Reduction
Recommendations; Consumer
Protection: Account/Deposit
Relationships and Miscellaneous
Consumer Rules; Economic Growth
and Regulatory Paperwork Reduction
Act of 1996 Review
AGENCIES: Office of the Comptroller of
the Currency (OCC), Treasury; Board of
Governors of the Federal Reserve
System (Board); Federal Deposit
Insurance Corporation (FDIC); and
Office of Thrift Supervision (OTS),
Treasury.
ACTION: Notice of regulatory review;
request for comments.
SUMMARY: The OCC, Board, FDIC, and
OTS (‘‘we’’ or ‘‘the Agencies’’) are
reviewing our regulations to identify
outdated, unnecessary, or unduly
burdensome regulatory requirements
pursuant to the Economic Growth and
Regulatory Paperwork Reduction Act of
1996 (EGRPRA). Today, we request your
comments and suggestions on ways to
reduce burden in rules we have
categorized as Consumer Protection:
Account/Deposit Relationships and
Miscellaneous Consumer Rules,
consistent with our statutory
obligations. All comments are welcome.
We specifically invite comment on the
following issues: Whether statutory
changes are needed; whether the
regulations contain requirements that
are not needed to serve the purposes of
the statutes they implement; the extent
to which the regulations may adversely
affect competition; the cost of
compliance associated with reporting,
recordkeeping, and disclosure
requirements, particularly on small
institutions; whether any regulatory
requirements are inconsistent or
redundant; and whether any regulations
are unclear.
We will analyze the comments
received and propose burden-reducing
changes to our regulations where
appropriate. Some of your suggestions
for burden reduction might require
legislative changes. Where legislative
changes would be required, we will
consider your suggestions in
recommending appropriate changes to
Congress.
DATES: Written comments must be
received no later than October 18, 2004.
ADDRESSES: You may submit comments
by any of the following methods:
EGRPRA Web site: http://
www.EGRPRA.gov.
• Comments submitted at the
Agencies’ joint Web site will
automatically be distributed to all the
Agencies upon receipt. Comments
received at the EGRPRA Web site and by
other means will be posted on the Web
site to the extent possible.
Individual agency addresses: You are
also welcome to submit comments to
the Agencies at the following contact
points (due to delays in paper mail
delivery in the Washington area,
commenters may prefer to submit their
comments by alternative means):
OCC: You may submit comments,
identified by [docket 0418], by any of
the following methods:
• E-mail:
regs.comments@occ.treas.gov. Include
[docket 0418] in the subject line of the
message.
• Fax: (202) 874–4448.
• Mail: Public Information Room,
Office of the Comptroller of the
Currency,250 E Street, SW., Mailstop 1–
5,Washington, DC 20219,Attention:
Docket ##.
Public Inspection: You may inspect
and photocopy comments at the Public
Information Room. You can make an
appointment to inspect the comments
by calling (202) 874–5043.
Board: You may submit comments,
identified by Docket Number R–1206,
by any of the following methods:
• Agency Web site: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
• E-mail:
regs.comments@federalreserve.gov.
Include docket number in the subject
line of the message.
• Fax: (202) 452–3819 or (202) 452–
3102.
• Mail: Jennifer J. Johnson, Secretary,
Board of Governors of the Federal
Reserve System,20th Street and
Constitution Avenue, NW.,Washington,
DC 20551.
All public comments are available
from the Board’s Web site at
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm as submitted,
except as necessary for technical
reasons. Accordingly, your comments
will not be edited to remove any
identifying or contact information.
Public comments may also be viewed
electronically or in paper in Room MP–
500 of the Board’s Martin Building (20th
and C Streets, NW.) between 9 a.m. and
5 p.m. on weekdays.
FDIC: You may submit comments,
identified as EGRPRA burden reduction
comments, by any of the following
methods:
• http://www.fdic.gov/regulations/
laws/federal/propose.html.
• E-mail: comments@fdic.gov.
Include ‘‘EGRPRA burden reduction
comment’’ in the subject line of the
message.
• Mail: Robert E. Feldman, Executive
Secretary, Federal Deposit Insurance
Corporation,550 17th Street,
NW.,Washington, DC 20429.
• Hand Delivery: Comments may be
hand delivered to the guard station at
the rear of the 550 17th Street Building
(located on F Street) on business days
between 7 a.m. and 5 p.m.
Public Inspection: You may inspect
comments at the FDIC Public
VerDate jul<14>2003 15:24 Jul 19, 2004 Jkt 203001 PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 E:\FR\FM\20JYP1.SGM 20JYP1
contains notices to the public of the proposed
issuance of rules and regulations. The
purpose of these notices is to give interested
persons an opportunity to participate in the
rule making prior to the adoption of the final
rules.
Proposed Rules Federal Register
43347
Vol. 69, No. 138
Tuesday, July 20, 2004
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Chap. I
[Docket No. 04–18]
BOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM
12 CFR Chap. II
[Docket No. R–1206]
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Chap. III
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
12 CFR Chap. V
[No. 2004–35]
Request for Burden Reduction
Recommendations; Consumer
Protection: Account/Deposit
Relationships and Miscellaneous
Consumer Rules; Economic Growth
and Regulatory Paperwork Reduction
Act of 1996 Review
AGENCIES: Office of the Comptroller of
the Currency (OCC), Treasury; Board of
Governors of the Federal Reserve
System (Board); Federal Deposit
Insurance Corporation (FDIC); and
Office of Thrift Supervision (OTS),
Treasury.
ACTION: Notice of regulatory review;
request for comments.
SUMMARY: The OCC, Board, FDIC, and
OTS (‘‘we’’ or ‘‘the Agencies’’) are
reviewing our regulations to identify
outdated, unnecessary, or unduly
burdensome regulatory requirements
pursuant to the Economic Growth and
Regulatory Paperwork Reduction Act of
1996 (EGRPRA). Today, we request your
comments and suggestions on ways to
reduce burden in rules we have
categorized as Consumer Protection:
Account/Deposit Relationships and
Miscellaneous Consumer Rules,
consistent with our statutory
obligations. All comments are welcome.
We specifically invite comment on the
following issues: Whether statutory
changes are needed; whether the
regulations contain requirements that
are not needed to serve the purposes of
the statutes they implement; the extent
to which the regulations may adversely
affect competition; the cost of
compliance associated with reporting,
recordkeeping, and disclosure
requirements, particularly on small
institutions; whether any regulatory
requirements are inconsistent or
redundant; and whether any regulations
are unclear.
We will analyze the comments
received and propose burden-reducing
changes to our regulations where
appropriate. Some of your suggestions
for burden reduction might require
legislative changes. Where legislative
changes would be required, we will
consider your suggestions in
recommending appropriate changes to
Congress.
DATES: Written comments must be
received no later than October 18, 2004.
ADDRESSES: You may submit comments
by any of the following methods:
EGRPRA Web site: http://
www.EGRPRA.gov.
• Comments submitted at the
Agencies’ joint Web site will
automatically be distributed to all the
Agencies upon receipt. Comments
received at the EGRPRA Web site and by
other means will be posted on the Web
site to the extent possible.
Individual agency addresses: You are
also welcome to submit comments to
the Agencies at the following contact
points (due to delays in paper mail
delivery in the Washington area,
commenters may prefer to submit their
comments by alternative means):
OCC: You may submit comments,
identified by [docket 0418], by any of
the following methods:
• E-mail:
regs.comments@occ.treas.gov. Include
[docket 0418] in the subject line of the
message.
• Fax: (202) 874–4448.
• Mail: Public Information Room,
Office of the Comptroller of the
Currency,250 E Street, SW., Mailstop 1–
5,Washington, DC 20219,Attention:
Docket ##.
Public Inspection: You may inspect
and photocopy comments at the Public
Information Room. You can make an
appointment to inspect the comments
by calling (202) 874–5043.
Board: You may submit comments,
identified by Docket Number R–1206,
by any of the following methods:
• Agency Web site: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
• E-mail:
regs.comments@federalreserve.gov.
Include docket number in the subject
line of the message.
• Fax: (202) 452–3819 or (202) 452–
3102.
• Mail: Jennifer J. Johnson, Secretary,
Board of Governors of the Federal
Reserve System,20th Street and
Constitution Avenue, NW.,Washington,
DC 20551.
All public comments are available
from the Board’s Web site at
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm as submitted,
except as necessary for technical
reasons. Accordingly, your comments
will not be edited to remove any
identifying or contact information.
Public comments may also be viewed
electronically or in paper in Room MP–
500 of the Board’s Martin Building (20th
and C Streets, NW.) between 9 a.m. and
5 p.m. on weekdays.
FDIC: You may submit comments,
identified as EGRPRA burden reduction
comments, by any of the following
methods:
• http://www.fdic.gov/regulations/
laws/federal/propose.html.
• E-mail: comments@fdic.gov.
Include ‘‘EGRPRA burden reduction
comment’’ in the subject line of the
message.
• Mail: Robert E. Feldman, Executive
Secretary, Federal Deposit Insurance
Corporation,550 17th Street,
NW.,Washington, DC 20429.
• Hand Delivery: Comments may be
hand delivered to the guard station at
the rear of the 550 17th Street Building
(located on F Street) on business days
between 7 a.m. and 5 p.m.
Public Inspection: You may inspect
comments at the FDIC Public
VerDate jul<14>2003 15:24 Jul 19, 2004 Jkt 203001 PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 E:\FR\FM\20JYP1.SGM 20JYP1
43348 Federal Register / Vol. 69, No. 138 / Tuesday, July 20, 2004 / Proposed Rules
1 The National Credit Union Administration has
participated in planning the EGRPRA review but
has issued, and will issue, requests for comment
separately.
2 Public Law 104–208, Sept. 30, 1996, 12 U.S.C.
3311. We published our first notice in the Federal
Register on June 16, 2003, at 68 FR 35589. We
published our second notice on January 21, 2004,
at 69 FR 2852. You may view the notices at our Web
site: http://www.EGRPRA.gov.
Information Center, Room 100, 801 17th
Street, NW., between 9 a.m. and 4:30
p.m. on business days.
OTS: You may submit comments,
identified by ‘‘No. 2004–35.’’ by any of
the following methods:
• E-Mail:
regs.comments@ots.treas.gov. Include
‘‘No. 2004–35’’ in the subject line of the
message, and provide your name and
telephone number.
• Fax: (202) 906–6518.
• Mail: Regulation Comments, Chief
Counsel’s Office, Office of Thrift
Supervision,1700 G Street,
NW.,Washington, DC 20552.
• Hand Delivery: Comments may be
hand delivered to the Guard’s Desk, East
Lobby Entrance, 1700 G Street, NW.,
from 9 a.m. to 4 p.m. on business days,
Attention: Regulation Comments, Chief
Counsel’s Office.
Public Inspection: OTS will post
comments and the related index on the
OTS Internet site at http://
www.ots.treas.gov. In addition, you may
inspect comments at the Public Reading
Room, 1700 G Street, NW., by
appointment. To make an appointment
for access, call (202) 906–5922, send an
e-mail to public.info@ots.treas.gov, or
send a fax to (202) 906–7755. (Please
identify the material you would like to
inspect to assist us in serving you.)
FOR FURTHER INFORMATION CONTACT:
OCC:
• Stuart Feldstein, Assistant Director,
Legislative and Regulatory Activities
Division, (202) 874–5090.
• Heidi Thomas, Special Counsel,
Legislative and Regulatory Activities
Division, (202) 874–5090.
• Lee Walzer, Counsel, Legislative
and Regulatory Activities Division,
(202) 874–5090.
Board:
• Patricia A. Robinson, Managing
Senior Counsel, Legal Division, (202)
452–3005.
• Michael J. O’Rourke, Counsel, Legal
Division, (202) 452–3288.
• John C. Wood, Counsel, Division of
Consumer and Community Affairs, (202)
452–2412.
• Arleen Lustig, Supervisory
Financial Analyst, Division of Banking
Supervision and Regulation, (202) 452–
5259.
• For users of Telecommunications
Device for the Deaf (TDD) only, contact
(202) 263–4869.
FDIC:
• Claude A. Rollin, Special Assistant
to the Vice Chairman, (202) 898–8741.
• Steven D. Fritts, Associate Director,
Division of Supervision and Consumer
Protection, (202) 898–3723.
• Ruth R. Amberg, Senior Counsel,
Legal Division, (202) 898–3736.
• Thomas Nixon, Counsel, Legal
Division, (202) 898–8766.
OTS:
• Robyn Dennis, Manager, Thrift
Policy, Supervision Policy, (202) 906–
5751.
• Josephine Battle, Program Analyst,
Thrift Policy, Supervision Policy, (202)
906–6870.
• Karen Osterloh, Special Counsel,
Regulations and Legislation Division,
Chief Counsel’s Office, (202) 906–6639.
SUPPLEMENTARY INFORMATION:
I. Overview of the EGRPRA Review and
the Steps Taken So Far
The Agencies 1 are asking for your
comments and suggestions on ways in
which we can reduce regulatory
burdens consistent with our statutory
obligations. Today, we request your
input to help us identify which
regulatory requirements in the category
‘‘Consumer Protection: Account/Deposit
Relationships and Miscellaneous
Consumer Rules’ are outdated,
unnecessary, or unduly burdensome.
We list the rules in this category in a
chart at the end of this notice. Please
send us your recommendations at our
Web site, http://www.EGRPRA.gov, or to
one of the listed addresses.
Today’s request for comment is the
third notice in our multi-year review of
regulations for burden reduction
required by section 2222 of EGRPRA.2
We described the EGRPRA review’s
requirements in our first EGRPRA
notice. In summary, EGRPRA requires
us to:
• Categorize our regulations by type.
• Publish the regulations by category
to request comments on which
regulations contain requirements that
are:
• Outdated,
• Unnecessary, or
• Unduly burdensome.
• Publish a summary of those
comments.
• Eliminate unnecessary regulations
to the extent appropriate.
• Report to Congress:
• Summarizing the significant issues
raised and their relative merits
• Analyzing whether legislative change
is required to reduce burden.
The first publication cycle must be
complete by September 2006.
We have identified 13 categories of
rules to implement our EGRPRA review.
The categories are: Applications and
Reporting; Banking Operations; Capital;
Community Reinvestment Act;
Consumer Protection: Lending Related
Rules; Consumer Protection: Account/
Deposit Relationships and
Miscellaneous Consumer Rules;
Directors, Officers and Employees;
International Operations; Money
Laundering; Powers and Activities;
Rules of Procedure; Safety and
Soundness; and Securities. You may see
the categories and the rules placed
within them at our Web site http://
www.EGRPRA.gov.
We previously requested public
comment about possible burden
reduction in four categories of rules.
Our June 16, 2003, notice requested
comment on three categories:
Applications and Reporting, Powers and
Activities, and International Operations.
Our January 21, 2004, notice requested
comment on Consumer Protection:
Lending Related Rules. Today, we
request comment on Consumer
Protection: Account/Deposit
Relationships and Miscellaneous
Consumer Rules.
We plan to publish one or more
categories of rules approximately every
six months between 2003 and 2006 and
provide a 90-day comment period for
each publication. As noted earlier, we
must publish all our covered categories
of rules for comment and review them
by the end of September 2006.
In addition to soliciting written
comments, we held banker outreach
meetings in Orlando, St. Louis, Denver,
San Francisco, New York City,
Nashville and Seattle to hear directly
from the industry about ways the
Agencies could reduce regulatory
burden. More than 300 representatives
from the industry have attended the
outreach meetings. On February 20,
2004, the Agencies also held a
conference in the Washington, DC area
for consumer groups to obtain their
input on regulatory burden reduction.
Another consumer group meeting was
held in San Francisco on June 24, 2004.
These meetings have helped focus our
regulatory burden reduction efforts. We
anticipate holding additional outreach
events this year. You may learn more
about the meetings and related
recommendations at our EGRPRA Web
site (http://www.EGRPRA.gov).
We received 19 comments in response
to the first notice and over 590 to the
second notice. The Agencies appreciate
the response to our notices and the
outreach meetings. The written
comments and remarks at the meetings
came from individuals, banks, savings
VerDate jul<14>2003 15:24 Jul 19, 2004 Jkt 203001 PO 00000 Frm 00002 Fmt 4702 Sfmt 4702 E:\FR\FM\20JYP1.SGM 20JYP1
1 The National Credit Union Administration has
participated in planning the EGRPRA review but
has issued, and will issue, requests for comment
separately.
2 Public Law 104–208, Sept. 30, 1996, 12 U.S.C.
3311. We published our first notice in the Federal
Register on June 16, 2003, at 68 FR 35589. We
published our second notice on January 21, 2004,
at 69 FR 2852. You may view the notices at our Web
site: http://www.EGRPRA.gov.
Information Center, Room 100, 801 17th
Street, NW., between 9 a.m. and 4:30
p.m. on business days.
OTS: You may submit comments,
identified by ‘‘No. 2004–35.’’ by any of
the following methods:
• E-Mail:
regs.comments@ots.treas.gov. Include
‘‘No. 2004–35’’ in the subject line of the
message, and provide your name and
telephone number.
• Fax: (202) 906–6518.
• Mail: Regulation Comments, Chief
Counsel’s Office, Office of Thrift
Supervision,1700 G Street,
NW.,Washington, DC 20552.
• Hand Delivery: Comments may be
hand delivered to the Guard’s Desk, East
Lobby Entrance, 1700 G Street, NW.,
from 9 a.m. to 4 p.m. on business days,
Attention: Regulation Comments, Chief
Counsel’s Office.
Public Inspection: OTS will post
comments and the related index on the
OTS Internet site at http://
www.ots.treas.gov. In addition, you may
inspect comments at the Public Reading
Room, 1700 G Street, NW., by
appointment. To make an appointment
for access, call (202) 906–5922, send an
e-mail to public.info@ots.treas.gov, or
send a fax to (202) 906–7755. (Please
identify the material you would like to
inspect to assist us in serving you.)
FOR FURTHER INFORMATION CONTACT:
OCC:
• Stuart Feldstein, Assistant Director,
Legislative and Regulatory Activities
Division, (202) 874–5090.
• Heidi Thomas, Special Counsel,
Legislative and Regulatory Activities
Division, (202) 874–5090.
• Lee Walzer, Counsel, Legislative
and Regulatory Activities Division,
(202) 874–5090.
Board:
• Patricia A. Robinson, Managing
Senior Counsel, Legal Division, (202)
452–3005.
• Michael J. O’Rourke, Counsel, Legal
Division, (202) 452–3288.
• John C. Wood, Counsel, Division of
Consumer and Community Affairs, (202)
452–2412.
• Arleen Lustig, Supervisory
Financial Analyst, Division of Banking
Supervision and Regulation, (202) 452–
5259.
• For users of Telecommunications
Device for the Deaf (TDD) only, contact
(202) 263–4869.
FDIC:
• Claude A. Rollin, Special Assistant
to the Vice Chairman, (202) 898–8741.
• Steven D. Fritts, Associate Director,
Division of Supervision and Consumer
Protection, (202) 898–3723.
• Ruth R. Amberg, Senior Counsel,
Legal Division, (202) 898–3736.
• Thomas Nixon, Counsel, Legal
Division, (202) 898–8766.
OTS:
• Robyn Dennis, Manager, Thrift
Policy, Supervision Policy, (202) 906–
5751.
• Josephine Battle, Program Analyst,
Thrift Policy, Supervision Policy, (202)
906–6870.
• Karen Osterloh, Special Counsel,
Regulations and Legislation Division,
Chief Counsel’s Office, (202) 906–6639.
SUPPLEMENTARY INFORMATION:
I. Overview of the EGRPRA Review and
the Steps Taken So Far
The Agencies 1 are asking for your
comments and suggestions on ways in
which we can reduce regulatory
burdens consistent with our statutory
obligations. Today, we request your
input to help us identify which
regulatory requirements in the category
‘‘Consumer Protection: Account/Deposit
Relationships and Miscellaneous
Consumer Rules’ are outdated,
unnecessary, or unduly burdensome.
We list the rules in this category in a
chart at the end of this notice. Please
send us your recommendations at our
Web site, http://www.EGRPRA.gov, or to
one of the listed addresses.
Today’s request for comment is the
third notice in our multi-year review of
regulations for burden reduction
required by section 2222 of EGRPRA.2
We described the EGRPRA review’s
requirements in our first EGRPRA
notice. In summary, EGRPRA requires
us to:
• Categorize our regulations by type.
• Publish the regulations by category
to request comments on which
regulations contain requirements that
are:
• Outdated,
• Unnecessary, or
• Unduly burdensome.
• Publish a summary of those
comments.
• Eliminate unnecessary regulations
to the extent appropriate.
• Report to Congress:
• Summarizing the significant issues
raised and their relative merits
• Analyzing whether legislative change
is required to reduce burden.
The first publication cycle must be
complete by September 2006.
We have identified 13 categories of
rules to implement our EGRPRA review.
The categories are: Applications and
Reporting; Banking Operations; Capital;
Community Reinvestment Act;
Consumer Protection: Lending Related
Rules; Consumer Protection: Account/
Deposit Relationships and
Miscellaneous Consumer Rules;
Directors, Officers and Employees;
International Operations; Money
Laundering; Powers and Activities;
Rules of Procedure; Safety and
Soundness; and Securities. You may see
the categories and the rules placed
within them at our Web site http://
www.EGRPRA.gov.
We previously requested public
comment about possible burden
reduction in four categories of rules.
Our June 16, 2003, notice requested
comment on three categories:
Applications and Reporting, Powers and
Activities, and International Operations.
Our January 21, 2004, notice requested
comment on Consumer Protection:
Lending Related Rules. Today, we
request comment on Consumer
Protection: Account/Deposit
Relationships and Miscellaneous
Consumer Rules.
We plan to publish one or more
categories of rules approximately every
six months between 2003 and 2006 and
provide a 90-day comment period for
each publication. As noted earlier, we
must publish all our covered categories
of rules for comment and review them
by the end of September 2006.
In addition to soliciting written
comments, we held banker outreach
meetings in Orlando, St. Louis, Denver,
San Francisco, New York City,
Nashville and Seattle to hear directly
from the industry about ways the
Agencies could reduce regulatory
burden. More than 300 representatives
from the industry have attended the
outreach meetings. On February 20,
2004, the Agencies also held a
conference in the Washington, DC area
for consumer groups to obtain their
input on regulatory burden reduction.
Another consumer group meeting was
held in San Francisco on June 24, 2004.
These meetings have helped focus our
regulatory burden reduction efforts. We
anticipate holding additional outreach
events this year. You may learn more
about the meetings and related
recommendations at our EGRPRA Web
site (http://www.EGRPRA.gov).
We received 19 comments in response
to the first notice and over 590 to the
second notice. The Agencies appreciate
the response to our notices and the
outreach meetings. The written
comments and remarks at the meetings
came from individuals, banks, savings
VerDate jul<14>2003 15:24 Jul 19, 2004 Jkt 203001 PO 00000 Frm 00002 Fmt 4702 Sfmt 4702 E:\FR\FM\20JYP1.SGM 20JYP1