Notice2023-28374
Agency Information Collection Activities: Revision of an Approved Information Collection; Comment Request; Bank Activities and Operations; Investment in Bank Premises
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
December 26, 2023
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). 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 a revision to its information collection titled, "Bank Activities and Operations; Investment in Bank Premises."
Full Text
<html>
<head>
<title>Federal Register, Volume 88 Issue 246 (Tuesday, December 26, 2023)</title>
</head>
<body><pre>
[Federal Register Volume 88, Number 246 (Tuesday, December 26, 2023)]
[Notices]
[Pages 89026-89027]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-28374]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Revision of an Approved
Information Collection; Comment Request; Bank Activities and
Operations; Investment in Bank Premises
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
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). 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 a revision to its information collection titled,
``Bank Activities and Operations; Investment in Bank Premises.''
DATES: Comments must be received by February 26, 2024.
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#86f6f4e7efe8e0e9c6e9e5e5a8f2f4e3e7f5a8e1e9f0"><span class="__cf_email__" data-cfemail="4d3d3f2c24232b220d222e2e63393f282c3e632a223b">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0204, 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) 293-4835.
Instructions: You must include ``OCC'' as the agency name and
``1557-0204'' 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.
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. Following the close of this notice's 60-day comment period, the
OCC will publish a second notice with a 30-day comment period.
<bullet> Viewing Comments Electronically: Go to <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Hover over the ``Information Collection Review'' drop-down menu. Click
on ``Information Collection Review.'' From the ``Currently under
Review'' drop-down menu, select ``Department of Treasury'' and then
click ``submit.'' This information collection can be located by
searching OMB control number ``1557-0204'' or ``Bank Activities and
Operations; Investment in Bank Premises.'' 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, 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, and/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 this collection.
Title: Bank Activities and Operations; Investment in Bank Premises.
OMB Control No.: 1557-0204.
Type of Review: Revision of a currently approved collection.
Affected Public: Businesses or other for-profit.
Estimated Frequency of Response: On occasion; Quarterly.
Description: The information collection requirements ensure that
institutions conduct their operations in a safe and sound manner and in
accordance with applicable Federal banking law and regulations. The
collections of information provide needed information for examiners and
offer protections for institutions. The collections are necessary for
regulatory and examination purposes and for national banks to ensure
their compliance with Federal law and regulations.
The information collection requirements are as follows:
<bullet> Investment in national bank or Federal savings association
premises--A national bank or Federal savings association may invest in
banking premises and other premises-related investments, loans, or
indebtedness by filing an application for prior approval whenever its
investment in bank premises will cause it to exceed its capital stock.
The application must describe the present and proposed investment and
the business reason for exceeding the limit. A bank with a composite 1
or 2 CAMELS rating entering a transaction that increases its aggregate
bank premises investment to not more than 150 percent of its capital
and surplus may proceed without prior OCC approval but must provide an
after-the-fact notice. 12 CFR 5.37.
<bullet> Sale of money orders at nonbanking outlets--A national
bank may designate bonded agents to sell the bank's money orders at
nonbanking outlets. The responsibility of both the bank and its agent
should be defined in a written agreement setting forth the duties of
both parties and providing for remuneration of the agent. 12 CFR
7.1014.
<bullet> Tax equity finance transactions--Written requests are
required for waiver to participate in a renewable energy tax equity
finance transaction exceeding the aggregate investment limit. Prior
written notification to OCC is required for each renewable energy tax
equity finance transaction. 12 CFR 7.1025.
<bullet> Payment systems--Thirty (30) days advance written notice
is required before joining a payment system that
[[Page 89027]]
would expose the institution to open-ended liability. After-the-fact
written notice must be filed within 30 days of becoming a member of a
payment system that does not expose the institution to open-ended
liabilities with certain representations. Both notices must include
safety and soundness representations. 12 CFR 7.1026.
<bullet> Derivatives activities--Thirty (30) days prior written
notice is required before engaging in certain derivatives hedging
activities, expanding the bank's derivatives hedging activities to
include a new category of underlying for derivatives transactions,
engaging in certain customer-driven financial intermediation
derivatives activities, and expanding the bank's customer-driven
financial intermediation derivatives activities to include a new
category of underlyings specified in the regulation. 12 CFR 7.1030.
<bullet> Corporate governance procedures--Other sources of
guidance--A national bank shall designate in its bylaws the body of law
selected for its corporate governance procedures. 12 CFR 7.2000(b).
<bullet> State corporate governance--Requests for OCC's staff
position on ability of a national bank to engage in a particular State
corporate governance procedure must include name, citations, discussion
of similarly situated State banks, identification of Federal banking
statutes and regulations, and analysis of consistency with statutes,
regulations, and safety and soundness. 12 CFR 7.2000(d).
<bullet> Honorary directors or advisory boards--Any listing of a
national bank's honorary or advisory directors must distinguish between
those directors and the bank's board of directors or indicate their
advisory status. 12 CFR 7.2004.
<bullet> Indemnification of institution-affiliated parties--written
agreement required for advancement--A written agreement that an IAP
will reimburse the institution for any portion of non-reimbursed
indemnification that the IAP is found not entitled to before advancing
funds to an IAP. 12 CFR 7.2014(c).
<bullet> Issuing stock in certificate form--National banks must
include certain information, signatures, and seal when issuing stock in
certificate form. 12 CFR 7.2016.
<bullet> Staggered terms for national bank directors--Any national
bank may adopt bylaws that provide for staggering the terms of its
directors. National banks must provide the OCC with copies of any
bylaws so amended. 12 CFR 7.2024(a).
<bullet> Size of bank board--A national bank seeking to increase
the number of its directors must notify the OCC any time the proposed
size would exceed 25 directors. 12 CFR 7.2024(c).
Estimated Number of Respondents: 1,727.
Estimated Total Annual Burden: 1,138 hours.
Comments submitted in response to this notice will be summarized
and included in the request for OMB approval. All comments will 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 start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Patrick T. Tierney,
Assistant Director, Bank Advisory, Office of the Comptroller of the
Currency.
[FR Doc. 2023-28374 Filed 12-22-23; 8:45 am]
BILLING CODE 4810-33-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on December 26, 2023.
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.