Notice2022-05680
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Covered Savings Associations
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
March 17, 2022
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
The Office of the Comptroller of the Currency (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 an information collection renewal as required by the Paperwork Reduction Act of 1995. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number. The OCC is soliciting comment concerning the renewal of its information collection titled "Covered Savings Associations." 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 87 Issue 52 (Thursday, March 17, 2022)</title>
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[Federal Register Volume 87, Number 52 (Thursday, March 17, 2022)]
[Notices]
[Pages 15304-15305]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-05680]
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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; Covered Savings Associations
AGENCY: Office of the Comptroller of the Currency, Treasury (OCC).
ACTION: Notice and request for comment.
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SUMMARY: The Office of the Comptroller of the Currency (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 an information collection renewal as required
by the Paperwork Reduction Act of 1995. An agency may not conduct or
sponsor, and a respondent is not required to respond to, an information
collection unless it displays a currently valid OMB control number. The
OCC is soliciting comment concerning the renewal of its information
collection titled ``Covered Savings Associations.'' The OCC also is
giving notice that it has sent the collection to OMB for review.
DATES: Comments must be received by April 18, 2022.
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#dbaba9bab2b5bdb49bb4b8b8f5afa9bebaa8f5bcb4ad"><span class="__cf_email__" data-cfemail="ed9d9f8c84838b82ad828e8ec3999f888c9ec38a829b">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, 1557-0341, 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
``1557-0341'' 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 also 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.
On January 5, 2022, the OCC published a 60-day notice for this
information collection, 87 FR 538. You may review comments and other
related materials that pertain to this information collection following
the close of the 30-day comment period for this notice by the method
set forth in the next bullet.
<bullet> Viewing Comments Electronically: Go to <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Hover over the ``Information Collection Review'' tab and click on
``Information Collection Review'' 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 by OMB control number ``1557-0341'' or ``Covered Savings
Associations.'' 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, 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. 3501-3520), Federal
agencies must obtain approval from the Office of Management and Budget
(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 that OMB extend its approval of the
information collection requirements in this notice.
Abstract: The Home Owners' Loan Act (HOLA), as amended by the
Economic Growth, Regulatory Relief, and Consumer Protection Act
(EGRRCPA), allows a Federal savings association (FSA) with total
consolidated assets of $20 billion or less, as of December 31, 2017, to
elect to operate as a covered savings association (CSA). This section
of HOLA requires the OCC to issue rules that, among other things,
establish streamlined standards and procedures for FSA elections to
operate as CSAs and clarify the requirements for the treatment of CSAs.
A CSA has the same rights and privileges as a national bank and is
subject to the same duties and restrictions as a national bank.
Twelve CFR part 101 allows FSAs to elect national bank powers and
operate as CSAs. An FSA seeking to operate as a CSA is required, under
12 CFR 101.3(a), to submit a notice making an election to the OCC that:
(1) Is signed by a duly authorized officer of the FSA; and (2)
identifies and describes any nonconforming subsidiaries, assets, or
activities that the FSA operates, holds, or conducts at the time it
submits its notice.
Under 12 CFR 101.5(a), the OCC may require a CSA to submit a plan
to divest, conform, or discontinue a nonconforming subsidiary, asset,
or activity.
A CSA may submit a notice to terminate its election to operate as a
CSA under 12 CFR 101.6 using procedures similar to those for an
election. In addition, an FSA that has terminated its election to
operate as a CSA may, after a period of five years, submit a notice
under 12 CFR 101.7 to reelect using the same procedures used for its
original election.
Title of Collection: Covered Savings Associations.
OMB Control No.: 1557-0341.
Election, Termination, Reelection:
Estimated Number of Respondents: 267.
Estimated Burden per Respondent: 1 hour.
[[Page 15305]]
Estimated Annual Burden: 267 hours.
Plan to Divest:
Estimated Number of Respondents: 25.
Estimated Burden per Respondent: 2 hours.
Estimated Annual Burden: 50 hours.
Total Annual Burden: 317 hours.
On January 5, 2022, the OCC published a 60-day notice for this
information collection, 87 FR 538. 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 estimates 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. 2022-05680 Filed 3-16-22; 8:45 am]
BILLING CODE 4810-33-P
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</html>Indexed from Federal Register on March 17, 2022.
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