Notice2024-06594
Agency Information Collection Activities: Revision of an Approved Information Collection; Submission for OMB Review; 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
March 28, 2024
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." 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 89 Issue 61 (Thursday, March 28, 2024)</title>
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[Federal Register Volume 89, Number 61 (Thursday, March 28, 2024)]
[Notices]
[Pages 21660-21661]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-06594]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Revision of an Approved
Information Collection; Submission for OMB Review; Bank Activities and
Operations; Investment in Bank Premises
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).
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.'' The
OCC also is giving notice that it has sent the collection to OMB for
review.
DATES: Comments must be received by April 29, 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#433331222a2d252c032c20206d37312622306d242c35"><span class="__cf_email__" data-cfemail="e9999b8880878f86a9868a8ac79d9b8c889ac78e869f">[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.
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>. You can find this
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 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 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 et seq.),
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 the OMB to approve this revised collection.
Title: Bank Activities and Operations; Investment in Bank Premises.
OMB Control No.: 1557-0204.
Type of Review: Regular.
[[Page 21661]]
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 bank premises
investment and the business reason for making the investment. 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--A written request to the
OCC is required to secure a waiver to participate in a tax equity
finance transaction exceeding the aggregate investment limit. Prior
written notification to the OCC is required for each tax equity finance
transaction. 12 CFR 7.1025(d).
<bullet> Payment systems--Thirty (30) days advance written notice
is required before joining a payment system that would expose the
institution to open-ended liability. An after-the-fact written notice
to the OCC must be filed within 30 days of becoming a member of a
payment system that does not expose the institution to open-ended
liabilities. In both cases, the notice must represent that the national
bank or Federal savings association has and will continue to comply
with safety and soundness review and notification requirements. 12 CFR
7.1026(c) and (d).
<bullet> Derivatives activities--Thirty (30) days prior written
notice to the examiner-in-charge is required before a national bank may
engage in certain derivatives hedging activities, expand the bank's
derivatives hedging activities to include a new category of underlying
for derivatives transactions, engage in certain customer-driven
financial intermediation derivatives activities, or expand the bank's
customer-driven financial intermediation derivatives activities to
include a new category of underlying specified in the regulation. 12
CFR 7.1030(d).
<bullet> Corporate governance procedures-Other sources of
guidance--A national bank must designate in its bylaws the body of law
selected for its corporate governance procedures. 12 CFR 7.2000(b).
<bullet> State corporate governance--A request for the views of OCC
staff on the permissibility of a national bank's adoption of a
particular State corporate governance provision must include the name
of the national bank, citation to the relevant State statutes or
regulations, a discussion of whether a similarly situated State bank is
subject to or may adopt the provision, the identification of all
Federal banking statutes and regulations on the same subject, and an
analysis of how the proposed practice is not inconsistent with
applicable Federal statutes or regulations and is not inconsistent with
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 is required
before advancing funds to an IAP. 12 CFR 7.2014(c).
<bullet> Issuing stock in certificate form--When issuing stock in
certificate form, national banks must comply with the requirements of
12 U.S.C. 52 and include the name and location of the bank, the name of
the holder of record, the number and class of shares the certificate
represents, information on rights of shareholders, signatures of the
bank president and cashier, and the bank's seal. 12 CFR 7.2016(b).
<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).
Burden Estimates:
Estimated Number of Respondents: 1,727.
Estimated Total Annual Burden: 1,138 hours.
Comments: On December 26, 2023, the OCC published a 60-day notice
for this information collection, 88 FR 89026. 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.
Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2024-06594 Filed 3-27-24; 8:45 am]
BILLING CODE 4810-33-P
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</html>Indexed from Federal Register on March 28, 2024.
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