Notice2022-13633
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; 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
June 27, 2022
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites 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." 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 122 (Monday, June 27, 2022)</title>
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[Federal Register Volume 87, Number 122 (Monday, June 27, 2022)]
[Notices]
[Pages 38257-38258]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-13633]
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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; 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 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.'' The OCC also is
giving notice that it has sent the collection to OMB for review.
DATES: Comments must be submitted on or before July 27, 2022.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
[[Page 38258]]
<bullet> Email: <a href="/cdn-cgi/l/email-protection#552527343c3b333a153a36367b21273034267b323a23"><span class="__cf_email__" data-cfemail="addddfccc4c3cbc2edc2cece83d9dfc8ccde83cac2db">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, 1557-0194, 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
``1557-0194'' 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.
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 April 21, 2022, the OCC published a 60-day notice for this
information collection, 87 FR 23914. 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'' from the 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 ``1557-0194'' 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, up to 15
percent of its capital and surplus. 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, 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.
On April 21, 2022, the OCC published a 60-day notice for this
information collection, 87 FR 23914. 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 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. 2022-13633 Filed 6-24-22; 8:45 am]
BILLING CODE 4810-33-P
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