Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; International Regulation, 35735-35736 [2015-15292]
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Federal Register / Vol. 80, No. 119 / Monday, June 22, 2015 / Notices
commenter stated that the OCC should
provide a safety and soundness
justification for collecting very granular
information, while asserting that
loan-level data contains the sensitive
personal information of borrowers. The
commenter believed that loan-level data
is less secure and that the OCC should
specify the controls that will ensure that
the information is not improperly
accessed or abused. In addition, the
commenter requested that monthly
submissions put national banks and
Federal savings associations at a
competitive disadvantage with statechartered institutions, which are not
subject to the same requirements. The
commenter noted that bank supervisors
have historically monitored credit
quality via regular onsite examinations
and the monitoring of trends in basic
metrics such as the level of past due
loans, nonaccrual loans, criticized and
classified loans, and troubled debt
restructurings. The commenter
suggested that the OCC provide an
explanation as to why these methods are
no longer sufficient without the
addition of the proposed collection of
monthly loan-level data.
The request for copies of the data
templates will be met by the
Information Collection Request, which
will be submitted to the Office of
Management and Budget and made
publicly available at www.reginfo.gov.
Banks generally use monthly data for
their own risk management and
reporting purposes. However, consistent
with the commenter’s suggestion, the
OCC is exploring collecting certain first
lien mortgage data on a quarterly, rather
than monthly basis. Based upon OCC’s
supervisory experience and knowledge
of banks’ reporting capabilities,
collection of loan-level data, rather than
pool-level data, is generally less
burdensome for banks. Additionally, the
OCC is required by 12 U.S.C. 1715z–25
to report loan-level mortgage metrics
data to Congress. It is not sufficient for
the OCC to monitor the credit quality of
first lien mortgages solely through onsite examinations, rather than collecting
loan-level mortgage data. The loan-level
data collected is not linked with any
particular individual and is subject to
an information security program to
ensure its confidentiality. The OCC has
worked with banks to develop a uniform
set of loan-level mortgage data elements
for purposes of monitoring the systemic
risk of the first-lien mortgage business to
the banking industry. Finally, the OCC
understands the commenter’s concerns
about duplication and is actively
exploring using the FRB’s FR Y–14 data,
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17:45 Jun 19, 2015
Jkt 235001
where possible, in order to decrease
banks’ reporting burden.
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
shall have 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.
Dated: June 16, 2015.
Stuart E. Feldstein,
Director, Legislative and Regulatory Activities
Division.
[FR Doc. 2015–15245 Filed 6–19–15; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Submission for OMB Review;
International Regulation
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for comment.
AGENCY:
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).
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 renewal of its information
collection titled ‘‘International
Regulation.’’ The OCC also is giving
notice that it has sent the collection to
OMB for review.
DATES: Comments must be received by
July 22, 2015.
SUMMARY:
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35735
Because paper mail in the
Washington, DC area and at the OCC is
subject to delay, commenters are
encouraged to submit comments by
email, if possible. Comments may be
sent to: Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, Attention:
1557–0102, 400 7th Street SW., Suite
3E–218, Mail Stop 9W–11, Washington,
DC 20219. In addition, comments may
be sent by fax to (571) 465–4326 or by
electronic mail to prainfo@occ.treas.gov.
You may personally inspect and
photocopy comments at the OCC, 400
7th Street SW., Washington, DC 20219.
For security reasons, the OCC requires
that visitors make an appointment to
inspect comments. You may do so by
calling (202) 649–6700. Upon arrival,
visitors will be required to present valid
government-issued photo identification
and submit to security screening in
order to inspect and photocopy
comments.
All 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.
Additionally, please send a copy of
your comments by mail to: OCC Desk
Officer, 1557–0102, U.S. Office of
Management and Budget, 725 17th
Street NW., #10235, Washington, DC
20503, or by email to: oira_submission@
omb.eop.gov.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, Clearance Officer,
(202) 649–5490, for persons who are
deaf or hard of hearing, TTY, (202) 649–
5597, Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, 400 7th
Street SW., Suite 3E–218, Mail Stop
9W–11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC
is proposing to extend OMB approval of
the following information collection
without change:
Title: International Regulation—Part
28.
OMB Control No.: 1557–0102.
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 files
an application, notice, or report with the
ADDRESSES:
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tkelley on DSK3SPTVN1PROD with NOTICES
35736
Federal Register / Vol. 80, No. 119 / Monday, June 22, 2015 / Notices
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 opens a foreign branch,
and no application or notice is required
by the FRB for such transaction.
In practice, the OCC also requires an
application pursuant to 12 CFR 28.3(c)
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. Under
12 CFR 28.3(c), 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 the OCC
can monitor compliance.
12 CFR 28.15(d), (d)(1), (d)(2), and (f)
Capital Equivalency Deposits (CED). A
foreign bank should require its
depository bank to segregate its 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
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
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17:45 Jun 19, 2015
Jkt 235001
§ 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 § 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) 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.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profit.
Estimated Number of Respondents:
49.
Estimated Total Annual Burden:
2,284.
Frequency of Response: On occasion.
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
PO 00000
Frm 00113
Fmt 4703
Sfmt 4703
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.
Dated: June 17, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and
Regulatory Activities Division.
[FR Doc. 2015–15292 Filed 6–19–15; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Proposed Information
Collection; Submission for OMB
Review; Domestic Residential Home
Equity Lending Data
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for comment.
AGENCY:
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 an 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 its
proposed information collection titled,
‘‘Domestic Residential Home Equity
Lending Data.’’ The OCC also is giving
notice that the collection has been sent
to OMB for review.
DATES: You should submit written
comments by: July 22, 2015.
ADDRESSES: Because paper mail in the
Washington, DC area and at the OCC is
subject to delay, commenters are
encouraged to submit comments by
email, if possible. Comments may be
sent to: Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, Attention:
1557–NEW, 400 7th Street SW., Suite
3E–218, Mail Stop 9W–11, Washington,
DC 20219. In addition, comments may
be sent by fax to (571) 465–4326 or by
SUMMARY:
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]]>Agencies
[Federal Register Volume 80, Number 119 (Monday, June 22, 2015)]
[Notices]
[Pages 35735-35736]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-15292]
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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; International Regulation
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 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).
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 renewal of its information
collection titled ``International Regulation.'' The OCC also is giving
notice that it has sent the collection to OMB for review.
DATES: Comments must be received by July 22, 2015.
ADDRESSES: Because paper mail in the Washington, DC area and at the
OCC is subject to delay, commenters are encouraged to submit comments
by email, if possible. Comments may be sent to: Legislative and
Regulatory Activities Division, Office of the Comptroller of the
Currency, Attention: 1557-0102, 400 7th Street SW., Suite 3E-218, Mail
Stop 9W-11, Washington, DC 20219. In addition, comments may be sent by
fax to (571) 465-4326 or by electronic mail to prainfo@occ.treas.gov.
You may personally inspect and photocopy comments at the OCC, 400 7th
Street SW., Washington, DC 20219. For security reasons, the OCC
requires that visitors make an appointment to inspect comments. You may
do so by calling (202) 649-6700. Upon arrival, visitors will be
required to present valid government-issued photo identification and
submit to security screening in order to inspect and photocopy
comments.
All 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.
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0102, U.S. Office of Management and Budget, 725 17th
Street NW., #10235, Washington, DC 20503, or by email to:
oira_submission@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer,
(202) 649-5490, for persons who are deaf or hard of hearing, TTY, (202)
649-5597, Legislative and Regulatory Activities Division, Office of the
Comptroller of the Currency, 400 7th Street SW., Suite 3E-218, Mail
Stop 9W-11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval
of the following information collection without change:
Title: International Regulation--Part 28.
OMB Control No.: 1557-0102.
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 files an application, notice, or report with the
[[Page 35736]]
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 opens a foreign branch, and no
application or notice is required by the FRB for such transaction.
In practice, the OCC also requires an application pursuant to 12
CFR 28.3(c) 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. Under
12 CFR 28.3(c), 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 the OCC can
monitor compliance.
12 CFR 28.15(d), (d)(1), (d)(2), and (f) Capital Equivalency
Deposits (CED). A foreign bank should require its depository bank to
segregate its 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 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) 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.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 49.
Estimated Total Annual Burden: 2,284.
Frequency of Response: On occasion.
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 start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: June 17, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-15292 Filed 6-19-15; 8:45 am]
BILLING CODE 4810-33-P
