Agency Information Collection Activities: Information Collection Revision; Submission for OMB Review; Comptroller's Licensing Manual, 48895-48898 [2017-22722]

Download as PDF srobinson on DSKBC5CHB2PROD with NOTICES Federal Register / Vol. 82, No. 202 / Friday, October 20, 2017 / Notices on. Also, while the commenter recommended that the OCC rescind appendix D, the OCC cannot rescind regulations or guidelines through the PRA renewal process. The commenter also stated that the collection of information for appendix D is unnecessary and of little utility because appendix D has been ineffectual in fostering enterprise risk governance over large complex financial institutions since almost seven years after the introduction of the OCC’s ‘‘heightened expectations’’ and three years after the issuance of appendix D, the OCC continues to identify enterprise risk governance as a key risk facing large banks in the OCC’s spring 2017 Semiannual Risk Perspective.8 However, while appendix D is intended to promote enterprise risk governance, the OCC recognizes that appendix D cannot eliminate the possibility of all enterprise risk governance weaknesses. The OCC believes that appendix D is a valuable mechanism for promoting sound enterprise risk governance and has observed significant improvement in risk governance since the adoption of appendix D. However, we also realize that risk governance weaknesses may remain and can be a risk to the safety and soundness of banks. The commenter also indicated that there is a disconnect between the specific risks identified in the OCC’s Semiannual Risk Perspectives and the ‘‘abstract generalized’’ standards in appendix D. According to the commenter, appendix D does not provide standards addressing the specific risks identified in the Semiannual Risk Perspectives, such as cyber security and Bank Secrecy Act (BSA) and Anti-Money Laundering risks (AML). The standards in appendix D are not intended to exhaustively address all of the risks facing OCC-regulated banks. Indeed, there is a separate appendix to 12 CFR part 30, appendix B that contains standards addressing information security. Banks are also subject to separate BSA and AML requirements.9 The commenter also expressed the opinion that the standards in appendix D are not actually heightened or more robust than the standards the OCC applies to many banks with $1 billion or more in total assets and that the reality is the OCC applies the standards in appendix D to many midsize and community banks. The commenter 8 https://www.occ.gov/publications/publicationsby-type/other-publications-reports/semiannual-riskperspective/semiannual-risk-perspective-spring2017.pdf. 9 See 12 CFR part 21. VerDate Sep<11>2014 16:22 Oct 19, 2017 Jkt 244001 pointed specifically to the Comptroller’s Handbook on Corporate and Risk Governance (handbook), suggesting that OCC examiners use this handbook for all OCC supervised banks.10 Appendix D only applies to banks with average total consolidated assets equal to or greater than $50 billion, banks with average total consolidated assets less than $50 billion when a bank’s parent company controls at least one other bank with average total consolidated assets equal to or greater than $50 billion, and banks with average total consolidated assets less than $50 billion if the OCC determines that a bank’s operations are highly complex or otherwise present a heightened risk. The handbook referenced by the commenter specifically notes that only banks with average total consolidated assets of $50 billion or greater (or banks that are otherwise included as covered banks in appendix D) should adhere to the standards in appendix D. The handbook includes separate and specific criteria for the covered banks subject to appendix D. Appendix D contains various standards that are not applied to smaller banks. For example, appendix D specifically provides that at least two members of a covered bank’s board of directors should qualify as independent and provides that boards should establish and adhere to a formal, ongoing training program. Appendix D also imposes specific requirements on covered banks’ independent risk management that are not applied to all OCC-regulated banks, including requiring that banks covered by appendix D have written risk appetite statements that include quantitative limits. Additionally, the standards in appendix D are legally different than the standards contained in the handbook. The standards in Appendix D are legally enforceable standards adopted pursuant to section 39 of the FDIA while the handbook is a guidance document. Type of Review: Regular review. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 34. Estimated Burden per Respondent: 3,776 hours. Estimated Total Annual Burden: 128,384 hours. Comments: Comments continue to be invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the 10 https://www.occ.treas.gov/publications/ publications-by-type/comptrollers-handbook/ corporate-risk-governance/pub-ch-corporaterisk.pdf PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 48895 OCC, including whether the information has practical utility; (b) The accuracy of the OCC’s estimate of the burden of the information collection; (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: October 16, 2017. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2017–22723 Filed 10–19–17; 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 Revision; Submission for OMB Review; Comptroller’s Licensing Manual 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 revision, as required by the Paperwork Reduction Act of 1995 (PRA). An agency may not conduct or sponsor, and a 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, ‘‘Comptroller’s Licensing Manual.’’ The OCC also is giving notice that it has sent the collection to OMB for review. DATES: You should submit written comments by November 20, 2017. 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 SUMMARY: E:\FR\FM\20OCN1.SGM 20OCN1 srobinson on DSKBC5CHB2PROD with NOTICES 48896 Federal Register / Vol. 82, No. 202 / Friday, October 20, 2017 / Notices Comptroller of the Currency, Attention: 1557–0014, 400 7th Street SW., Suite 3E–218, 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 or, for persons who are deaf or hearing impaired, (202) 649– 5597. Upon arrival, visitors will be required to present valid governmentissued 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, 1557–0014, 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, OCC Clearance Officer, (202) 649–5490 or, for persons who are deaf or hearing impaired, (202) 649–5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Washington, DC 20219. SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501–3520), federal agencies must obtain prior 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. The changes to this information collection include revisions to four interagency forms,1 which are being made in conjunction with the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation. Those agencies will issue a separate joint Federal Register notice before or shortly after this notice. The OCC is issuing its own 1 Interagency Bank Merger Act, Interagency Biographical and Financial Report, Interagency Notice of Change in Control, and Interagency Notice of Change in Director or Senior Executive Officer. VerDate Sep<11>2014 16:22 Oct 19, 2017 Jkt 244001 notice so that it may renew its entire collection. The OCC is requesting that OMB extend approval of this collection as revised. The entire collection is discussed in detail in the ‘‘Description’’ section, followed by a section highlighting the revisions. Title: Comptroller’s Licensing Manual. OMB Control No.: 1557–0014. Description: The information collection requirements ensure that national banks and federal savings associations (FSA) (hereafter ‘‘bank’’ or ‘‘banks’’) conduct their operations in a safe and sound manner and in accordance with applicable federal banking statutes and regulations. The information is necessary for regulatory and examination purposes. The Comptroller’s Licensing Manual (Manual) sets forth the OCC’s policies and procedures for the formation of a national bank or federal branch or agency, entry into the federal banking system by other institutions, and corporate expansion and structural changes by existing banks. The Manual includes sample documents to assist the applicant in understanding the types of information the OCC needs in order to process a filing. An applicant may use the format of the sample documents or any other format that provides sufficient information for the OCC to act on a particular filing, including the OCC’s electronic filing system, the Central Application Tracking System. The Manual includes requirements for the following corporate filings: • Interagency Biographical and Financial Report—OCC regulations require the OCC to perform background investigations on proposed organizers, executive officers, directors, and principal shareholders of banks to determine if they have the experience, competence, integrity, character, financial ability, and willingness to direct or lead a bank’s affairs in a safe, sound, and legal manner. 12 CFR 5.20, 5.50, 5.51, and 163.33; 28 CFR 16.34, and 20.33. • Public Notice and Comments—OCC regulations require an applicant to publish a public notice of its filing in a newspaper of general circulation in the community in which the applicant proposes to engage in business. 12 CFR 5.8, 5.9, 5.10, 5.11, and 5.50. • Charter—OCC must approve the establishment of a bank. The application includes a business plan and an oath of a bank director. 12 CFR 5.20 and 7.2008. • All federally-chartered savings associations are required to file and receive prior approval for certain changes to their charter and/or bylaws. PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 The charter and bylaws of an insured FSA are formal documents created when a savings association establishes its corporate existence. The charter states the scope, purpose, and duration for the corporate entity. 12 CFR 5.20, 5.21, 5.22, 5.25, and 5.33. • Banker’s Bank—OCC regulations require that a banker’s bank seeking a waiver of a statutory provision must request the waiver in a letter to the OCC. The letter must include information on why the waiver is requested and supporting legal analysis. 12 CFR 5.20. • Conversions—Institutions must request OCC permission to convert to a bank. OCC regulations require that a converting financial institution provide information related to its request to convert its charter. 12 CFR 5.23 and 5.24. • Federal Branches and Agencies— OCC regulations require that a foreign bank desiring to establish a federal branch or agency file an application or notice with the OCC. 12 CFR 5.70; 12 CFR part 28. • Branches and Relocations—A bank must obtain prior approval or give notice to the OCC to establish, acquire, or relocate a main office or branch. 12 CFR 5.30, 5.31, 5.40, 5.52, and 145.92; 36 CFR 800.1 et seq.; 40 CFR 1500.1 et seq. • Business Combinations and Failure Acquisitions—OCC approval is required for any merger, corporate reorganization, or acquisition of a failed institution that will result in a bank. 12 CFR 5.32 and 5.33. • Fiduciary Powers—OCC approval is required for a bank to exercise fiduciary powers. The request letter represents the bank’s conformity with the governing statute and its commitment to retain qualified trust management. Additionally, a bank shall file a notice after opening a trust office in a state other than its home office state. 12 CFR 5.26. • Operating Subsidiaries—OCC regulations require that a bank obtain OCC approval prior to establishing, acquiring, or performing new activities in an operating subsidiary. In certain instances, a national bank may file a notice after commencing an operating subsidiary activity. 12 CFR 5.34, 5.38, 5.39, and 5.58. • Financial Subsidiaries—A national bank must obtain the approval of the OCC prior to acquiring control of, or holding an interest in, a financial subsidiary, and prior to commencing a new activity in an existing subsidiary. A national bank that intends to acquire control of, or hold an interest in, a financial subsidiary, or to commence a new activity in an existing financial E:\FR\FM\20OCN1.SGM 20OCN1 srobinson on DSKBC5CHB2PROD with NOTICES Federal Register / Vol. 82, No. 202 / Friday, October 20, 2017 / Notices subsidiary, may obtain OCC approval through filing a certification with subsequent notice or a combined certification and notice. 12 CFR 5.39. • Bank Service Companies—OCC regulations require that a bank notify the OCC prior to its investment in certain bank service companies. 12 CFR 5.35. • Investments—OCC regulations require a national bank that wishes to invest in an agricultural credit corporation, an eligible savings association, or any other equity investment authorized by statute after February 12, 1990, to provide notice to the appropriate OCC district office. The regulation also requires that a national bank or a federal branch making a noncontrolling investment, directly or through an operating subsidiary, file a written notice or application. The regulations further require an FSA making a pass-through investment, directly or through its operating subsidiary, to file an after-the-fact notice or an application. 12 CFR 5.36 and 5.58. • Thrift Service Corporations—OCC regulations require that an FSA obtain OCC approval prior to establishing or acquiring a subsidiary or performing new activities in a thrift service corporation. 12 CFR 5.59. • Annual Report—The OCC requires that each national bank prepare an annual report as of December 31 on its operating subsidiaries and file the report by January 31 of the following year. 12 CFR 5.34. • Branch Closings—Federal law requires a bank to notify the OCC if it closes a branch or if it converts a brick and mortar branch to an ATM branch. 12 U.S.C. 1831r–1. • Termination of National Bank or FSA Charter—OCC regulations require a bank to notify the OCC of its intent to voluntarily liquidate, merge out, or convert out of the bank charter. 12 CFR 5.25, 5.33(k), and 5.48. • Capital and Dividends; Subordinated Debt—OCC regulations require that a bank obtain OCC approval or, in some cases, provide notice to the OCC in connection with a change in equity capital, an issuance or prepayment of subordinated debt, and the payment of dividends under certain circumstances. The applications are titled, ‘‘Increase in Permanent Capital,’’ ‘‘Reduction of Permanent Capital/ Dividends Payable in Property Other Than Cash,’’ ‘‘Reverse Stock Split,’’ ‘‘Quasi-Reorganization,’’ ‘‘Reduction of Permanent Capital and Capital Distribution,’’ ‘‘Issuance of Subordinated Debt,’’ and ‘‘Prepayment of Subordinated Debt.’’ 12 CFR 5.45, VerDate Sep<11>2014 16:22 Oct 19, 2017 Jkt 244001 5.46, 5.47, 5.55, 5.56, 5.60, 5.61, 5.62, 5.63, 5.64, 5.65, 5.66, and 5.67. • Change in Control—Any individual, group, or company that proposes to acquire control of a bank must submit prior notice of that intent to the OCC. 12 CFR 5.50. • Change in Senior Executive Officer and Director—Whenever a change in control occurs, the bank must promptly report to the appropriate federal banking agency any changes or replacements of its senior executive officer or of any director occurring in the next 12-month period. Also, prior notice and approval is required for any additions to the board of directors or senior executive officers if: The bank is not in compliance with minimum capital requirements; is otherwise in troubled condition; or after OCC review of the plan required under section 38 of the Federal Deposit Insurance Act, the OCC determines that prior notice is appropriate. 12 CFR 5.50(h) and 5.51. • Director Waivers—Every national bank director must be a citizen of the United States and a majority of the national bank directors must reside in the state where the bank is located. The OCC may waive the requirement of citizenship for not more than a minority of the total number of directors and the residency requirement for a majority or all of the directors. A national bank may file a letter requesting a waiver of the citizenship or residency requirements. See 12 U.S.C. 72. • Change of Corporate Title and Address—OCC regulations require a bank that changes its corporate title or address to inform the OCC of that change. 12 CFR 5.42 and 5.52. • Management Interlocks—Banks may apply to the OCC for exemption from the prohibitions on management interlocks that would not result in a monopoly or substantial lessening of competition and would not present safety and soundness concerns. 12 CFR 26.6. • Customer Satisfaction Survey—This survey information is collected as part of the OCC’s quality assurance program. • Substantial Asset Change—OCC regulations require a bank to obtain prior written approval: For a change in the composition of all, or substantially all, of the bank’s assets either through the sale or other disposition of assets; once having disposed of all or substantially all the assets, to reactivate its operations through the subsequent purchase, acquisition, or other expansion of its operations; for any other purchases, acquisitions or other expansions of operations that are part of a plan to increase the size of the bank by more than 25 percent in a one year PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 48897 period; for any other material increase or decrease in the size of the bank or a material alteration in the composition of the types of assets or liabilities of the bank; or for any change in the purpose of the bank’s charter. 12 CFR 5.53. Changes to the Information Collection The following were updated, with burden increases only: Interagency Notice of Change in Control, Interagency Biographical and Financial Report, and Interagency Bank Merger Act Application. The following forms were updated with minor edits: • Application Amendments— Updated to remove reference to ‘‘CAIS.’’ • Authorization for Release of Information/Consent Form for Background Investigations—Updated to make language more clear, in compliance with the Fair Credit Reporting Act. • Branches Requiring Authorization—Removed references to ‘‘OTS.’’ • Change of Address—Added a missing check box for change in address of a branch. • Other Equity Investments or PassThrough Investments—Corrected a typographical error. • Individual Oath of FSA Director— Updated to correct typographical errors. • Reduction of Permanent Capital/ Dividends Payable in Property Other Than Cash—12 CFR 5.66 requires national banks to obtain approval before paying a dividend-in-kind. Previous revisions to the form inadvertently omitted applicability of the form for this use. • Interagency Notice of Change in Director or Senior Executive Officer— Minor updates and further clarification of instructions and requirements. The following forms were updated to clarify the information requested: • Increase in Permanent Capital Notice—Generally an FSA is not required to apply for an increase in capital unless the method of increase itself requires a filing (such as issuance of a new class of stock). However, in certain circumstances, a federal stock savings association is required to submit an application and obtain OCC approval. National banks are required to give notice and receive OCC certification. • Interagency Biographical and Financial Report—Minor updates and further clarification of instructions and requirements. Includes additional questions related to the application review process, such as information on lawsuits, suspensions, tax obligations, and liabilities. E:\FR\FM\20OCN1.SGM 20OCN1 48898 Federal Register / Vol. 82, No. 202 / Friday, October 20, 2017 / Notices • Interagency Notice of Change in Control—Minor updates and further clarification of instructions and requirements. Includes additional questions related to the application review process, such as information on non-voting shares, and whether the applicant is joining an existing group acting in concert. • Interagency Bank Merger Act— Updated to reflect new requirements under the Dodd-Frank Act,2 or otherwise necessary to evaluate statutory factors, as well as additional questions related to the application review process. Requests financial projections for three years versus the current one year. The following forms were updated to delete requirements: • Citizenship and Residency Waivers—Removed applicability to FSAs and clarified that only the biographical portion of the form is required. • Commencement of Fiduciary Activities Notice, Fiduciary Powers After-the-Fact-Notice, Fiduciary Powers Application, and Surrender of Fiduciary Powers Notice—Removed requirement for a bank seal. srobinson on DSKBC5CHB2PROD with NOTICES Additional Requested Items The following are additions to the collection that capture existing requirements: • Conversion to National Bank Completion Certification and Conversion to FSA Completion Certification—Certification is submitted to indicate that all steps required to convert to a bank were taken, including execution of all documents required for organization, requisite shareholder or member approval, board of directors authorization, and adoption of bylaws. Upon receipt of the certification, the OCC issues the institution a new charter. • Reduction of Permanent Capital and Capital Distribution—Under 12 CFR 5.55, FSAs are required to obtain OCC approval before issuing a capital distribution under certain circumstances. The request is reviewed to determine whether the FSA’s request is in accordance with existing statutory and regulatory criteria. The reporting requirements were previously included in OTS Form 1583. The new form was approved under OMB Control No. 1557– 0338 and later merged into this collection. 2 Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 111–203, July 21, 2010. VerDate Sep<11>2014 16:22 Oct 19, 2017 Jkt 244001 Transfer of a Collection Investment in Bank Premises—OCC regulations require a bank to obtain prior approval whenever an investment in bank premises will cause the total investment in bank premises to exceed the amount of the bank’s capital stock, unless the bank is eligible for the premises notice process set forth in 12 CFR 5.37(d)(3). 12 CFR 5.37(d)(1) and 7.1000(c). This item has been merged into the collection covering part 7 (OMB Control No. 1557–0204). Type of Review: Regular. Affected Public: Individuals or households; Businesses or other forprofit. Estimated Number of Respondents: 3,715. Estimated Total Annual Responses: 3,715. Frequency of Response: On occasion. Estimated Total Annual Burden: 12,533 hours. The OCC issued a notice for 60 days of comment regarding this collection on August 4, 2017, 82 FR 36185. 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. Dated: October 16, 2017. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2017–22722 Filed 10–19–17; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Extension of Information Collection Request Submitted for Public Comment; Split-Dollar Life Insurance Arrangements Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning the requirements relating to Split-Dollar Life Insurance Arrangements. DATES: Written comments should be received on or before December 19, 2017 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, Room 6141, 1111 Constitution Avenue NW., Washington, DC 20224. Requests for additional information or copies of the regulations should be directed to R. Joseph Durbala, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet, at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Split-Dollar Life Insurance Arrangements. OMB Number: 1545–1792. Regulation Project Number: TD 9092. Abstract: This document contains final regulations related to the income, employment, and gift taxation of splitdollar life insurance arrangements. The final regulations provide needed guidance to persons who enter splitdollar life insurance arrangements. Current Actions: There is no change to the burden previously approved. Type of Review: Extension of a currently approved collection. Affected Public: Not-for-profit institutions. Estimated Number of Respondents: 115,000. Estimated Time per Respondent: 17 minutes. Estimated Total Annual Burden Hours: 32,500. The following paragraph applies to all the collections of information covered by this notice: An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained if their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103. Desired Focus of Comments: The Internal Revenue Service (IRS) is SUMMARY: E:\FR\FM\20OCN1.SGM 20OCN1

Agencies

[Federal Register Volume 82, Number 202 (Friday, October 20, 2017)]
[Notices]
[Pages 48895-48898]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-22722]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Revision; Submission for OMB Review; Comptroller's Licensing Manual

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 an information 
collection revision, as required by the Paperwork Reduction Act of 1995 
(PRA).
    An agency may not conduct or sponsor, and a 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, ``Comptroller's Licensing Manual.'' The 
OCC also is giving notice that it has sent the collection to OMB for 
review.

DATES: You should submit written comments by November 20, 2017.

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

[[Page 48896]]

Comptroller of the Currency, Attention: 1557-0014, 400 7th Street SW., 
Suite 3E-218, 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 or, for 
persons who are deaf or hearing impaired, (202) 649-5597. 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, 1557-0014, 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, OCC Clearance 
Officer, (202) 649-5490 or, for persons who are deaf or hearing 
impaired, (202) 649-5597, Legislative and Regulatory Activities 
Division, Office of the Comptroller of the Currency, 400 7th Street 
SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), federal 
agencies must obtain prior 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.
    The changes to this information collection include revisions to 
four interagency forms,\1\ which are being made in conjunction with the 
Board of Governors of the Federal Reserve System and the Federal 
Deposit Insurance Corporation. Those agencies will issue a separate 
joint Federal Register notice before or shortly after this notice. The 
OCC is issuing its own notice so that it may renew its entire 
collection.
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    \1\ Interagency Bank Merger Act, Interagency Biographical and 
Financial Report, Interagency Notice of Change in Control, and 
Interagency Notice of Change in Director or Senior Executive 
Officer.
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    The OCC is requesting that OMB extend approval of this collection 
as revised. The entire collection is discussed in detail in the 
``Description'' section, followed by a section highlighting the 
revisions.
    Title: Comptroller's Licensing Manual.
    OMB Control No.: 1557-0014.
    Description: The information collection requirements ensure that 
national banks and federal savings associations (FSA) (hereafter 
``bank'' or ``banks'') conduct their operations in a safe and sound 
manner and in accordance with applicable federal banking statutes and 
regulations. The information is necessary for regulatory and 
examination purposes.
    The Comptroller's Licensing Manual (Manual) sets forth the OCC's 
policies and procedures for the formation of a national bank or federal 
branch or agency, entry into the federal banking system by other 
institutions, and corporate expansion and structural changes by 
existing banks. The Manual includes sample documents to assist the 
applicant in understanding the types of information the OCC needs in 
order to process a filing. An applicant may use the format of the 
sample documents or any other format that provides sufficient 
information for the OCC to act on a particular filing, including the 
OCC's electronic filing system, the Central Application Tracking 
System.
    The Manual includes requirements for the following corporate 
filings:
     Interagency Biographical and Financial Report--OCC 
regulations require the OCC to perform background investigations on 
proposed organizers, executive officers, directors, and principal 
shareholders of banks to determine if they have the experience, 
competence, integrity, character, financial ability, and willingness to 
direct or lead a bank's affairs in a safe, sound, and legal manner. 12 
CFR 5.20, 5.50, 5.51, and 163.33; 28 CFR 16.34, and 20.33.
     Public Notice and Comments--OCC regulations require an 
applicant to publish a public notice of its filing in a newspaper of 
general circulation in the community in which the applicant proposes to 
engage in business. 12 CFR 5.8, 5.9, 5.10, 5.11, and 5.50.
     Charter--OCC must approve the establishment of a bank. The 
application includes a business plan and an oath of a bank director. 12 
CFR 5.20 and 7.2008.
     All federally-chartered savings associations are required 
to file and receive prior approval for certain changes to their charter 
and/or bylaws. The charter and bylaws of an insured FSA are formal 
documents created when a savings association establishes its corporate 
existence. The charter states the scope, purpose, and duration for the 
corporate entity. 12 CFR 5.20, 5.21, 5.22, 5.25, and 5.33.
     Banker's Bank--OCC regulations require that a banker's 
bank seeking a waiver of a statutory provision must request the waiver 
in a letter to the OCC. The letter must include information on why the 
waiver is requested and supporting legal analysis. 12 CFR 5.20.
     Conversions--Institutions must request OCC permission to 
convert to a bank. OCC regulations require that a converting financial 
institution provide information related to its request to convert its 
charter. 12 CFR 5.23 and 5.24.
     Federal Branches and Agencies--OCC regulations require 
that a foreign bank desiring to establish a federal branch or agency 
file an application or notice with the OCC. 12 CFR 5.70; 12 CFR part 
28.
     Branches and Relocations--A bank must obtain prior 
approval or give notice to the OCC to establish, acquire, or relocate a 
main office or branch. 12 CFR 5.30, 5.31, 5.40, 5.52, and 145.92; 36 
CFR 800.1 et seq.; 40 CFR 1500.1 et seq.
     Business Combinations and Failure Acquisitions--OCC 
approval is required for any merger, corporate reorganization, or 
acquisition of a failed institution that will result in a bank. 12 CFR 
5.32 and 5.33.
     Fiduciary Powers--OCC approval is required for a bank to 
exercise fiduciary powers. The request letter represents the bank's 
conformity with the governing statute and its commitment to retain 
qualified trust management. Additionally, a bank shall file a notice 
after opening a trust office in a state other than its home office 
state. 12 CFR 5.26.
     Operating Subsidiaries--OCC regulations require that a 
bank obtain OCC approval prior to establishing, acquiring, or 
performing new activities in an operating subsidiary. In certain 
instances, a national bank may file a notice after commencing an 
operating subsidiary activity. 12 CFR 5.34, 5.38, 5.39, and 5.58.
     Financial Subsidiaries--A national bank must obtain the 
approval of the OCC prior to acquiring control of, or holding an 
interest in, a financial subsidiary, and prior to commencing a new 
activity in an existing subsidiary. A national bank that intends to 
acquire control of, or hold an interest in, a financial subsidiary, or 
to commence a new activity in an existing financial

[[Page 48897]]

subsidiary, may obtain OCC approval through filing a certification with 
subsequent notice or a combined certification and notice. 12 CFR 5.39.
     Bank Service Companies--OCC regulations require that a 
bank notify the OCC prior to its investment in certain bank service 
companies. 12 CFR 5.35.
     Investments--OCC regulations require a national bank that 
wishes to invest in an agricultural credit corporation, an eligible 
savings association, or any other equity investment authorized by 
statute after February 12, 1990, to provide notice to the appropriate 
OCC district office. The regulation also requires that a national bank 
or a federal branch making a non-controlling investment, directly or 
through an operating subsidiary, file a written notice or application. 
The regulations further require an FSA making a pass-through 
investment, directly or through its operating subsidiary, to file an 
after-the-fact notice or an application. 12 CFR 5.36 and 5.58.
     Thrift Service Corporations--OCC regulations require that 
an FSA obtain OCC approval prior to establishing or acquiring a 
subsidiary or performing new activities in a thrift service 
corporation. 12 CFR 5.59.
     Annual Report--The OCC requires that each national bank 
prepare an annual report as of December 31 on its operating 
subsidiaries and file the report by January 31 of the following year. 
12 CFR 5.34.
     Branch Closings--Federal law requires a bank to notify the 
OCC if it closes a branch or if it converts a brick and mortar branch 
to an ATM branch. 12 U.S.C. 1831r-1.
     Termination of National Bank or FSA Charter--OCC 
regulations require a bank to notify the OCC of its intent to 
voluntarily liquidate, merge out, or convert out of the bank charter. 
12 CFR 5.25, 5.33(k), and 5.48.
     Capital and Dividends; Subordinated Debt--OCC regulations 
require that a bank obtain OCC approval or, in some cases, provide 
notice to the OCC in connection with a change in equity capital, an 
issuance or prepayment of subordinated debt, and the payment of 
dividends under certain circumstances. The applications are titled, 
``Increase in Permanent Capital,'' ``Reduction of Permanent Capital/
Dividends Payable in Property Other Than Cash,'' ``Reverse Stock 
Split,'' ``Quasi-Reorganization,'' ``Reduction of Permanent Capital and 
Capital Distribution,'' ``Issuance of Subordinated Debt,'' and 
``Prepayment of Subordinated Debt.'' 12 CFR 5.45, 5.46, 5.47, 5.55, 
5.56, 5.60, 5.61, 5.62, 5.63, 5.64, 5.65, 5.66, and 5.67.
     Change in Control--Any individual, group, or company that 
proposes to acquire control of a bank must submit prior notice of that 
intent to the OCC. 12 CFR 5.50.
     Change in Senior Executive Officer and Director--Whenever 
a change in control occurs, the bank must promptly report to the 
appropriate federal banking agency any changes or replacements of its 
senior executive officer or of any director occurring in the next 12-
month period. Also, prior notice and approval is required for any 
additions to the board of directors or senior executive officers if: 
The bank is not in compliance with minimum capital requirements; is 
otherwise in troubled condition; or after OCC review of the plan 
required under section 38 of the Federal Deposit Insurance Act, the OCC 
determines that prior notice is appropriate. 12 CFR 5.50(h) and 5.51.
     Director Waivers--Every national bank director must be a 
citizen of the United States and a majority of the national bank 
directors must reside in the state where the bank is located. The OCC 
may waive the requirement of citizenship for not more than a minority 
of the total number of directors and the residency requirement for a 
majority or all of the directors. A national bank may file a letter 
requesting a waiver of the citizenship or residency requirements. See 
12 U.S.C. 72.
     Change of Corporate Title and Address--OCC regulations 
require a bank that changes its corporate title or address to inform 
the OCC of that change. 12 CFR 5.42 and 5.52.
     Management Interlocks--Banks may apply to the OCC for 
exemption from the prohibitions on management interlocks that would not 
result in a monopoly or substantial lessening of competition and would 
not present safety and soundness concerns. 12 CFR 26.6.
     Customer Satisfaction Survey--This survey information is 
collected as part of the OCC's quality assurance program.
     Substantial Asset Change--OCC regulations require a bank 
to obtain prior written approval: For a change in the composition of 
all, or substantially all, of the bank's assets either through the sale 
or other disposition of assets; once having disposed of all or 
substantially all the assets, to reactivate its operations through the 
subsequent purchase, acquisition, or other expansion of its operations; 
for any other purchases, acquisitions or other expansions of operations 
that are part of a plan to increase the size of the bank by more than 
25 percent in a one year period; for any other material increase or 
decrease in the size of the bank or a material alteration in the 
composition of the types of assets or liabilities of the bank; or for 
any change in the purpose of the bank's charter. 12 CFR 5.53.

Changes to the Information Collection

    The following were updated, with burden increases only: Interagency 
Notice of Change in Control, Interagency Biographical and Financial 
Report, and Interagency Bank Merger Act Application.
    The following forms were updated with minor edits:
     Application Amendments--Updated to remove reference to 
``CAIS.''
     Authorization for Release of Information/Consent Form for 
Background Investigations--Updated to make language more clear, in 
compliance with the Fair Credit Reporting Act.
     Branches Requiring Authorization--Removed references to 
``OTS.''
     Change of Address--Added a missing check box for change in 
address of a branch.
     Other Equity Investments or Pass-Through Investments--
Corrected a typographical error.
     Individual Oath of FSA Director--Updated to correct 
typographical errors.
     Reduction of Permanent Capital/Dividends Payable in 
Property Other Than Cash--12 CFR 5.66 requires national banks to obtain 
approval before paying a dividend-in-kind. Previous revisions to the 
form inadvertently omitted applicability of the form for this use.
     Interagency Notice of Change in Director or Senior 
Executive Officer--Minor updates and further clarification of 
instructions and requirements.
    The following forms were updated to clarify the information 
requested:
     Increase in Permanent Capital Notice--Generally an FSA is 
not required to apply for an increase in capital unless the method of 
increase itself requires a filing (such as issuance of a new class of 
stock). However, in certain circumstances, a federal stock savings 
association is required to submit an application and obtain OCC 
approval. National banks are required to give notice and receive OCC 
certification.
     Interagency Biographical and Financial Report--Minor 
updates and further clarification of instructions and requirements. 
Includes additional questions related to the application review 
process, such as information on lawsuits, suspensions, tax obligations, 
and liabilities.

[[Page 48898]]

     Interagency Notice of Change in Control--Minor updates and 
further clarification of instructions and requirements. Includes 
additional questions related to the application review process, such as 
information on non-voting shares, and whether the applicant is joining 
an existing group acting in concert.
     Interagency Bank Merger Act--Updated to reflect new 
requirements under the Dodd-Frank Act,\2\ or otherwise necessary to 
evaluate statutory factors, as well as additional questions related to 
the application review process. Requests financial projections for 
three years versus the current one year.
---------------------------------------------------------------------------

    \2\ Dodd-Frank Wall Street Reform and Consumer Protection Act, 
Public Law 111-203, July 21, 2010.
---------------------------------------------------------------------------

    The following forms were updated to delete requirements:
     Citizenship and Residency Waivers--Removed applicability 
to FSAs and clarified that only the biographical portion of the form is 
required.
     Commencement of Fiduciary Activities Notice, Fiduciary 
Powers After-the-Fact-Notice, Fiduciary Powers Application, and 
Surrender of Fiduciary Powers Notice--Removed requirement for a bank 
seal.

Additional Requested Items

    The following are additions to the collection that capture existing 
requirements:
     Conversion to National Bank Completion Certification and 
Conversion to FSA Completion Certification--Certification is submitted 
to indicate that all steps required to convert to a bank were taken, 
including execution of all documents required for organization, 
requisite shareholder or member approval, board of directors 
authorization, and adoption of bylaws. Upon receipt of the 
certification, the OCC issues the institution a new charter.
     Reduction of Permanent Capital and Capital Distribution--
Under 12 CFR 5.55, FSAs are required to obtain OCC approval before 
issuing a capital distribution under certain circumstances. The request 
is reviewed to determine whether the FSA's request is in accordance 
with existing statutory and regulatory criteria. The reporting 
requirements were previously included in OTS Form 1583. The new form 
was approved under OMB Control No. 1557-0338 and later merged into this 
collection.

Transfer of a Collection

    Investment in Bank Premises--OCC regulations require a bank to 
obtain prior approval whenever an investment in bank premises will 
cause the total investment in bank premises to exceed the amount of the 
bank's capital stock, unless the bank is eligible for the premises 
notice process set forth in 12 CFR 5.37(d)(3). 12 CFR 5.37(d)(1) and 
7.1000(c). This item has been merged into the collection covering part 
7 (OMB Control No. 1557-0204).
    Type of Review: Regular.
    Affected Public: Individuals or households; Businesses or other 
for-profit.
    Estimated Number of Respondents: 3,715.
    Estimated Total Annual Responses: 3,715.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 12,533 hours.
    The OCC issued a notice for 60 days of comment regarding this 
collection on August 4, 2017, 82 FR 36185. 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.

    Dated: October 16, 2017.
Karen Solomon,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2017-22722 Filed 10-19-17; 8:45 am]
 BILLING CODE 4810-33-P