Notice2022-08530
Agency Information Collection Activities: Information Collection Renewal; Comment Request; Community and Economic Development Entities, Community Development Projects, and Other Public Welfare Investments
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
April 21, 2022
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). An agency may not conduct or sponsor, and respondents are 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 its information collection titled, "Community and Economic Development Entities, Community Development Projects, and Other Public Welfare Investments."
Full Text
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<title>Federal Register, Volume 87 Issue 77 (Thursday, April 21, 2022)</title>
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[Federal Register Volume 87, Number 77 (Thursday, April 21, 2022)]
[Notices]
[Pages 23914-23915]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-08530]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Community and Economic Development Entities,
Community Development Projects, and Other Public Welfare Investments
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). An agency may not conduct or sponsor, and respondents are
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 its
information collection titled, ``Community and Economic Development
Entities, Community Development Projects, and Other Public Welfare
Investments.''
DATES: Comments must be submitted on or before June 21, 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#60101201090e060f200f03034e14120501134e070f16"><span class="__cf_email__" data-cfemail="68181a0901060e0728070b0b461c1a0d091b460f071e">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0194, 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
``1557-0194'' 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.
Following the close of this notice's 60-day comment period, the OCC
will publish a second notice with a 30-day comment period. You may
review comments and other related materials that pertain to this
information collection beginning on the date of publication of the
second notice for this collection 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'' dropdown. 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-
0194'' or ``Community and Economic Development Entities, Community
Development Projects, and Other Public Welfare Investments.'' 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, 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. 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 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. Section
3506(c)(2)(A) of title 44 requires Federal agencies to provide a 60-day
notice in the Federal Register concerning each proposed collection of
information, including each proposed extension of an existing
collection of information, before submitting the collection to OMB for
approval. To comply with this requirement, the OCC is publishing notice
of the renewal of the collection of information set forth in this
document.
Title: Community and Economic Development Entities, Community
Development Projects, and Other Public Welfare Investments.
OMB Control No.: 1557-0194.
Description: This submission covers an existing regulation (12 CFR
part 24), including the CD-1, National Bank Community Development
Investments form, contained in 12 CFR part 24 Appendix 1, pursuant to
which a national bank may notify the OCC, or request OCC approval, of
certain community development investments.
Section 24.4(a) provides that a national bank may submit a written
request to the OCC to exceed five percent of its capital and surplus
for its aggregate, outstanding public welfare investments. The OCC may
grant permission to the bank to make subsequent public welfare
investments up to the approved investment limit without prior
notification to, or approval by the OCC, using the after-the-fact
notification process consistent with Sec. 24.5(a).
Section 24.5(a) provides that an eligible national bank may make a
public welfare investment without prior notification to, or approval
by, the OCC if the bank submits an after-the-fact notification of an
investment within 10 days of making the investment.
Section 24.5(a)(5) provides that a national bank that is not an
eligible bank consistent with Sec. 24.2(e), but that is at least
adequately capitalized and has a composite rating of at least 3 with
improving trends under the Uniform Financial Institutions Rating
System,
[[Page 23915]]
may submit a letter to the OCC requesting authority to submit after-
the-fact notices of its public welfare investments.
Section 24.5(b)(1) provides that if a national bank does not meet
the requirements for after-the-fact notification, including if the
bank's aggregate outstanding investments exceed the five percent limit,
unless previously approved by the OCC for subsequent public welfare
investments, the bank must submit an investment proposal to the OCC
seeking permission to make the public welfare investment.
Type of Review: Regular.
Affected Public: Individuals; Businesses or other for-profit.
Estimated Number of Respondents: 1,200.
Frequency of Response: On occasion.
Estimated Total Annual Burden: 1,910 hours.
Comments submitted in response to this notice will be summarized,
included in the request for OMB approval, and become a matter of public
record. Comments are 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 startup 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. 2022-08530 Filed 4-20-22; 8:45 am]
BILLING CODE P
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