Notice2024-18939
Agency Information Collection Activities: Information Collection Renewal; Comment Request; International Regulation-Part 28
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
August 23, 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 the renewal of its information collection titled, "International Regulation--Part 28."
Full Text
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<title>Federal Register, Volume 89 Issue 164 (Friday, August 23, 2024)</title>
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[Federal Register Volume 89, Number 164 (Friday, August 23, 2024)]
[Notices]
[Pages 68240-68241]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-18939]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; International Regulation--Part 28
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 the renewal of its information collection titled,
``International Regulation--Part 28.''
DATES: Comments must be received by October 22, 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#e49496858d8a828ba48b8787ca9096818597ca838b92"><span class="__cf_email__" data-cfemail="60101201090e060f200f03034e14120501134e070f16">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0102, 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
``1557-0102'' 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'' 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 ``1557-0102'' or
``International Regulation--Part 28.'' 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.
[[Page 68241]]
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.
Section 3506(c)(2)(A) of title 44 generally 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/revision of this collection.
Title: International Regulation--Part 28.
OMB Control No.: 1557-0102.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Description: This submission covers an existing regulation and
involves no change to the regulation or to the information collection
requirements. The OCC requests only that OMB extend its approval of the
information collection.
12 CFR 28.3 Filing Requirements for Foreign Operations of a
National Bank--Notice Requirement.
A national bank shall notify the OCC when it (1) files an
application, notice, or report with the Board of Governors of the
Federal Reserve System (FRB) to establish or open a foreign branch; or
acquire or divest of an interest in, or close, an Edge corporation,
Agreement corporation, foreign bank, or other foreign organization; or
(2) opens a foreign branch, and no application or notice is required by
the FRB for such transaction. Pursuant to Sec. 28.3(c), the OCC also
has required additional information in the form of an application from
a national bank seeking to join a foreign exchange, clearinghouse, or
similar type of organization. In lieu of a notice, the OCC may accept a
copy of an application, notice, or report submitted to another Federal
agency that covers the proposed action and contains substantially the
same information required by the OCC. A national bank shall furnish the
OCC with any additional information the OCC may require in connection
with the national bank's foreign operations.
12 CFR 28.14(c) Limitations Based upon Capital of a Foreign Bank--
Aggregation.
A foreign bank shall aggregate business transacted by all Federal
branches and agencies with the business transacted by all state
branches and agencies controlled by the foreign bank in determining its
compliance with limitations based upon the capital of the foreign bank.
A foreign bank shall designate one Federal branch or agency office in
the United States to maintain consolidated information so that the OCC
can monitor compliance.
12 CFR 28.15(d), (d)(1), (d)(2), and (f) Capital Equivalency
Deposits.
A foreign bank should require its depository bank to segregate its
capital equivalency deposits (CED) on the depository bank's books and
records. The instruments making up the CED that are placed in
safekeeping at a depository bank to satisfy a foreign bank's CED
requirement must be maintained pursuant to an agreement prescribed by
the OCC that shall be a written agreement entered into with the OCC.
Each Federal branch or agency shall maintain a capital equivalency
account and keep records of the amount of liabilities requiring capital
equivalency coverage in a manner and form prescribed by the OCC. A
foreign bank's CED may not be reduced in value below the minimum
required for that branch or agency without the prior approval of the
OCC, but in no event may the value fall below the statutory minimum.
12 CFR 28.16(c) Deposit-taking by an Uninsured Federal branch--
Application for an Exemption.
A foreign bank may apply to the OCC for an exemption to permit an
uninsured Federal branch to accept or maintain deposit accounts that
are not listed in Sec. 28.16(b). The request should describe the
types, sources, and estimated amount of such deposits and explain why
the OCC should grant an exemption, and how the exemption maintains and
furthers the policies described in Sec. 28.16(a).
12 CFR 28.16(d) Deposit-Taking by an Uninsured Federal Branch--
Aggregation of Deposits.
A foreign bank that has more than one Federal branch in the same
state may aggregate deposits in all of its Federal branches in that
state, but exclude deposits of other branches, agencies, or wholly
owned subsidiaries of the bank. The Federal branch shall compute the
average amount by using the sum of deposits as of the close of business
of the last 30 calendar days ending with, and including, the last day
of the calendar quarter, divided by 30. The Federal branch shall
maintain records of the calculation until its next examination by the
OCC.
12 CFR 28.18(c)(1) Recordkeeping and Reporting--Maintenance of
Accounts, Books, and Records.
Each Federal branch or agency shall maintain a set of accounts and
records reflecting its transactions that are separate from those of the
foreign bank and any other branch or agency. The Federal branch or
agency shall keep a set of accounts and records in English sufficient
to permit the OCC to examine the condition of the Federal branch or
agency and its compliance with applicable laws and regulations.
12 CFR 28.20(a)(1) Maintenance of Assets--General Rule.
The OCC may require a foreign bank to hold certain assets in the
state in which its Federal branch or agency is located.
12 CFR 28.22(e) Voluntary Liquidation--Reports of Examination.
The Federal branch or agency shall send the OCC certification that
all of its Reports of Examination have been destroyed or return its
Reports of Examination to the OCC.
Estimated Burden: $296,843.60.
Estimated Frequency of Response: On occasion.
Estimated Number of Respondents: 52.
Estimated Total Annual Burden: 2,294 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, Office of the Comptroller of the Currency.
[FR Doc. 2024-18939 Filed 8-22-24; 8:45 am]
BILLING CODE 4810-33-P
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</html>Indexed from Federal Register on August 23, 2024.
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