Notice2021-14776
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; International Regulation
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
July 13, 2021
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
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 (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 ``International Regulation--Part 28.'' The OCC also is giving notice that it has sent the collection to OMB for review.
Full Text
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<title>Federal Register, Volume 86 Issue 131 (Tuesday, July 13, 2021)</title>
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[Federal Register Volume 86, Number 131 (Tuesday, July 13, 2021)]
[Notices]
[Pages 36864-36866]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-14776]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; International Regulation
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 (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 ``International Regulation--Part 28.'' The OCC also is giving
notice that it has sent the collection to OMB for review.
DATES: Comments must be received by August 12, 2021.
[[Page 36865]]
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
<bullet> Email: <a href="/cdn-cgi/l/email-protection#19696b7870777f7659767a7a376d6b7c786a377e766f"><span class="__cf_email__" data-cfemail="f78785969e999198b7989494d98385929684d9909881">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, 1557-0102, Office of the Comptroller of the Currency, 400
7th Street SW, Suite 3E-218, Washington, DC 20219.
<bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
<bullet> Fax: (571) 465-4326.
Instructions: You must include ``OCC'' as the agency name and
``1557-0102 in your comment. In general, the OCC will publish comments
on <a href="http://www.reginfo.gov">www.reginfo.gov</a> 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.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular information
collection by selecting ``Currently under 30-day Review--Open for
Public Comments'' or by using the search function.
You may review comments and other related materials that pertain to
this information collection \1\ following the close of the 30-day
comment period for this notice by the following method:
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\1\ On March 17, 2021, the OCC published a 60-day notice for
this information collection, 86 FR 14679.
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<bullet> Viewing Comments Electronically: Go to <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Click on the ``Information Collection Review'' tab. Underneath the
``Currently under Review'' section heading, from the drop-down menu
select ``Department of Treasury'' and then click ``submit.'' This
information collection can be located by searching by OMB control
number ``1557-0102'' or ``International Regulation--Part 28.'' 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.
<bullet> For assistance in navigating <a href="http://www.reginfo.gov">www.reginfo.gov</a>, please
contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490, Chief Counsel's Office, Office of the
Comptroller of the Currency, 400 7th Street SW, suite 3E-218,
Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), 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. The OCC asks OMB
to extend its approval of this collection.
Title: International Regulation--Part 28.
OMB Control No.: 1557-0102.
Description: This submission covers an existing regulation and
involves no change to the regulation or to the information collection
requirements. The OCC requests only that OMB extend its approval of the
information collection.
12 CFR 28.3 Filing Requirements for Foreign Operations of a National
Bank--Notice Requirement
A national bank shall notify the OCC when it (1) files an
application, notice, or report with the Board of Governors of the
Federal Reserve System (FRB) to establish or open a foreign branch; or
acquire or divest of an interest in, or close, an Edge corporation,
Agreement corporation, foreign bank, or other foreign organization; or
(2) opens a foreign branch, and no application or notice is required by
the FRB for such transaction.
The OCC also has required an application pursuant to Sec. 28.3(c)
from a national bank seeking to join a foreign exchange, clearinghouse,
or similar type of organization. In lieu of a notice, the OCC may
accept a copy of an application, notice, or report submitted to another
Federal agency that covers the proposed action and contains
substantially the same information required by the OCC. A national bank
shall furnish the OCC with any additional information the OCC may
require in connection with the national bank's foreign operations.
12 CFR 28.14(c) Limitations Based Upon Capital of a Foreign Bank--
Aggregation
A foreign bank shall aggregate business transacted by all Federal
branches and agencies with the business transacted by all state
branches and agencies controlled by the foreign bank in determining its
compliance with limitations based upon the capital of the foreign bank.
A foreign bank shall designate one Federal branch or agency office in
the United States to maintain consolidated information so that the OCC
can monitor compliance.
12 CFR 28.15(d), (d)(1), (d)(2), and (f) Capital Equivalency Deposits
A foreign bank should require its depository bank to segregate its
capital equivalency deposits (CED) on the depository bank's books and
records. The instruments making up the CED that are placed in
safekeeping at a depository bank to satisfy a foreign bank's CED
requirement must be maintained pursuant to an agreement prescribed by
the OCC that shall be a written agreement entered into with the OCC.
Each Federal branch or agency shall maintain a capital equivalency
account and keep records of the amount of liabilities requiring capital
equivalency coverage in a manner and form prescribed by the OCC. A
foreign bank's CED may not be reduced in value below the minimum
required for that branch or agency without the prior approval of the
OCC, but in no event may the value fall below the statutory minimum.
12 CFR 28.16(c) Deposit-Taking by an Uninsured Federal Branch--
Application for an Exemption
A foreign bank may apply to the OCC for an exemption to permit an
uninsured Federal branch to accept or maintain deposit accounts that
are not listed in Sec. 28.16(b). The request should describe the
types, sources, and estimated amount of such deposits and explain why
the OCC should grant an exemption, and how the exemption maintains and
furthers the policies described in Sec. 28.16(a).
12 CFR 28.16(d) Deposit-Taking by an Uninsured Federal Branch--
Aggregation of Deposits
A foreign bank that has more than one Federal branch in the same
state may aggregate deposits in all of its Federal branches in that
state, but exclude deposits of other branches, agencies, or wholly
owned subsidiaries of the bank. The Federal branch shall compute the
average amount by using the sum of deposits as of the close of business
of the last 30 calendar days ending with, and including, the last day
of the calendar quarter, divided by 30. The Federal branch shall
maintain records of
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the calculation until its next examination by the OCC.
12 CFR 28.18(c)(1) Recordkeeping and Reporting--Maintenance of
Accounts, Books, and Records
Each Federal branch or agency shall maintain a set of accounts and
records reflecting its transactions that are separate from those of the
foreign bank and any other branch or agency. The Federal branch or
agency shall keep a set of accounts and records in English sufficient
to permit the OCC to examine the condition of the Federal branch or
agency and its compliance with applicable laws and regulations.
12 CFR 28.20(a)(1) Maintenance of Assets--General Rule
The OCC may require a foreign bank to hold certain assets in the
state in which its Federal branch or agency is located.
12 CFR 28.22(e) Voluntary Liquidation--Reports of Examination
The Federal branch or agency shall send the OCC certification that
all of its Reports of Examination have been destroyed or return its
Reports of Examination to the OCC.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 52.
Estimated Total Annual Burden: 2,294.
Frequency of Response: On occasion.
On March 17, 2021, the OCC published a 60-day notice for this
information collection, 86 FR 14679. No comments were received.
Comments continue to be 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.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2021-14776 Filed 7-12-21; 8:45 am]
BILLING CODE 4810-33-P
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</html>Indexed from Federal Register on July 13, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.