Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Disclosure and Reporting of CRA-Related Agreements, 32832-32834 [2019-14543]
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32832
Federal Register / Vol. 84, No. 131 / Tuesday, July 9, 2019 / Notices
khammond on DSKBBV9HB2PROD with NOTICES
be received on or before August 7, 2019.
To the extent possible, PHMSA will
consider late-filed comments.
ADDRESSES: Comments should reference
the Docket number for this notice and
may be submitted in the following ways:
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Fax: 1–202–493–2251.
• Mail: Docket Management System;
U.S. Department of Transportation,
West Building, Ground Floor, Room
W12–140, Routing Symbol M–30, 1200
New Jersey Avenue SE, Washington, DC
20590.
• Hand Delivery: To the Docket
Management System; Room W12–140
on the ground floor of the West
Building, 1200 New Jersey Avenue SE,
Washington, DC 20590, between 9 a.m.
and 5 p.m., Monday through Friday,
except Federal holidays.
Instructions: All submissions must
include the agency name and Docket
Number (PHMSA–2019–0100) for this
notice at the beginning of the comment.
To avoid duplication, please use only
one of these four methods. All
comments received will be posted
without change to the Federal Docket
Management System (FDMS) and will
include any personal information you
provide. If sent by mail, comments must
be submitted in duplicate. Persons
wishing to receive confirmation of
receipt of their comments must include
a self-addressed stamped postcard.
Docket: For access to the dockets to
read associated documents or comments
received, go to https://
www.regulations.gov or DOT’s Docket
Operations Office (see ADDRESSES).
Privacy Act: In accordance with 5
U.S.C. 553(c), DOT solicits comments
from the public to better inform its
process. DOT posts these comments,
without change, including any personal
information the commenter provides, to
https://www.regulations.gov, as
described in the system of records
notice (DOT/ALL–14 FDMS), which can
be reviewed at https://www.dot.gov/
privacy.
FOR FURTHER INFORMATION CONTACT:
Ryan Paquet by telephone at 202–366–
4511, or email at specialpermits@
dot.gov.
SUPPLEMENTARY INFORMATION:
I. Background
On June 6, 2019, PHMSA published a
notice announcing the availability of a
draft environmental assessment for
public review. Specifically, PHMSA
received a request for a special permit
from Energy Transport Solutions, LLC
seeking authorization to transport
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17:47 Jul 08, 2019
Jkt 247001
‘‘Methane, Refrigerated Liquid’’
(UN1972), commonly known and
liquefied natural gas (LNG), in a rail
tank car. The request is to authorize
shipment of LNG in a DOT specification
113C120W tank car subject to certain
operational conditions. We invited
interested persons to review and
provide comment on the ‘‘draft
environmental assessment’’ for this
special permit request; and to include
relevant information on potential safety,
environmental, and any additional
impacts that should be considered.
PHMSA has also included the draft
special permit in the docket for this
notice as further reference material. The
notice, draft environmental assessment,
and draft special permit are available for
review at https://www.regulations.gov
under Docket number PHMSA–2019–
0100.
II. Comment Period Extension
PHMSA is granting a request to
extend the comment period. The request
was received from two members of
Congress.1 PHMSA initially provided a
30-day comment period to the notice,
which ends on July 8, 2019. The
comment period is being extended 30
days. The comment period will now
close on August 7, 2019. This will allow
PHMSA to seek additional review and
public input on this issue.
III. Additional Docket Materials
PHMSA is also using this comment
period extension notice to make the
public aware of additional documents
submitted to the docket and available
for public review:
1. An updated draft Environmental
Assessment.
2. The Energy Transport Solutions,
LLC Quantitative Risk Assessment
(QRA).
3. The Energy Transport Solutions,
LLC special permit application (in
redacted form).
Issued in Washington, DC, on July 3, 2019,
under authority delegated in 49 CFR part
1.97.
Drue Pearce,
Deputy Administrator, Pipeline and
Hazardous Materials Safety Administration.
[FR Doc. 2019–14532 Filed 7–8–19; 8:45 am]
BILLING CODE 4910–60–P
1 See June 28, 2019, letter from Representative
Peter A. DeFazio, Chairman, Committee on
Transportation and Infrastructure and
Representative Tom Malinowski, which has been
added to the docket at www.regulations.gov.
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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;
Disclosure and Reporting of CRARelated Agreements
Office of the Comptroller of the
Currency, Treasury.
ACTION: Notice and request for comment.
AGENCY:
The Office of the Comptroller
of the Currency (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).
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 its information collection
titled ‘‘Disclosure and Reporting of
CRA-Related Agreements.’’ The OCC
also is giving notice that the collection
has been sent to OMB for review.
DATES: Comments must be received by
August 8, 2019.
ADDRESSES: Commenters are encouraged
to submit comments by email, if
possible. You may submit comments by
any of the following methods:
• Email: prainfo@occ.treas.gov.
• Mail: Chief Counsel’s Office,
Attention: Comment Processing, 1557–
0219, Office of the Comptroller of the
Currency, 400 7th Street SW, Suite 3E–
218, Washington, DC 20219.
• Hand Delivery/Courier: 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
• Fax: (571) 465–4326.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0219’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov 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.
SUMMARY:
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khammond on DSKBBV9HB2PROD with NOTICES
Federal Register / Vol. 84, No. 131 / Tuesday, July 9, 2019 / Notices
Additionally, please send a copy of
your comments by mail to: OCC Desk
Officer, 1557–0219, U.S. Office of
Management and Budget, 725 17th
Street NW, #10235, Washington, DC
20503 or by email to oira_submission@
omb.eop.gov.
You may review comments and other
related materials that pertain to this
information collection 1 following the
close of the 30-day comment period for
this notice by any of the following
methods:
• Viewing Comments Electronically:
Go to www.reginfo.gov. Click on the
‘‘Information Collection Review’’ tab.
Underneath the ‘‘Currently under
Review’’ section heading, from the dropdown menu select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching by OMB control number
‘‘1557–0219’’ or ‘‘Disclosure and
Reporting of CRA-Related Agreements.’’
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.
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
• Viewing Comments Personally: You
may personally inspect comments at the
OCC, 400 7th Street SW, Washington,
DC. 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, TTY, (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 comments.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, OCC Clearance
Officer, (202) 649–5490 or, for persons
who are deaf or hearing impaired, TTY,
(202) 649–5597, Chief Counsel’s Office,
Office of the Comptroller of the
Currency, Washington, DC 20219.
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
1 On March 29, 2019, the OCC published a 60-day
notice for this information collection, 84 FR 12032.
VerDate Sep<11>2014
17:47 Jul 08, 2019
Jkt 247001
asks that OMB extend its approval of
this collection.
Title: Disclosure and Reporting of
CRA-Related Agreements.
OMB Control No.: 1557–0219.
Description: National banks, federal
savings associations, and their affiliates
occasionally enter into agreements with
nongovernmental entities or persons
(NGEPs) that are related to their
Community Reinvestment Act (CRA)
responsibilities. Section 48 of the
Federal Deposit Insurance Act (FDI
Act) 2 requires disclosure of certain of
these agreements and imposes related
reporting requirements on insured
depository institutions (IDIs), their
affiliates, and NGEPs. As mandated by
the FDI Act, the OCC, the Federal
Deposit Insurance Corporation, and the
Board of Governors of the Federal
Reserve System issued regulations to
implement these disclosure and
reporting requirements. The disclosure
and reporting provisions of these
regulations constitute collections of
information under the PRA. The
regulation issued by the OCC is codified
at 12 CFR 35 and is known as the ‘‘CRA
Sunshine’’ regulation.
Section 48 of the FDI Act applies to
written agreements that: (1) Are made in
fulfillment of the CRA; (2) involve funds
or other resources of an IDI or affiliate
with an aggregate value of more than
$10,000 in a year or loans with an
aggregate principal value of more than
$50,000 in a year; 3 and (3) are entered
into by an IDI or affiliate and an NGEP.4
Under section 48, the parties to a
covered agreement must make the
agreement available to the public and
the appropriate agency.5 This section
also requires the parties to file a report
annually with the appropriate agency
concerning the disbursement, receipt,
and use of funds or other resources
under the agreement.6 The collections of
information in CRA Sunshine regulation
implement these statutorily mandated
disclosure and reporting requirements.
The parties to the agreement may
request confidential treatment of
proprietary and confidential
information in an agreement or annual
report and may withhold from public
disclosure confidential or proprietary
information in an agreement.7
U.S.C. 1831y.
definition includes groups of substantially
related agreements that satisfy these amounts in the
aggregate.
4 12 U.S.C. 1831y(e).
5 12 U.S.C. 1831y(a).
6 12 U.S.C. 1831y(b)–(c).
7 12 CFR 35.6(b)(2), 35.8; see 12 U.S.C.
1831y(h)(2)(A).
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2 12
3 The
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32833
The information collections are found
in 12 CFR 35.4(b); 35.6; and 35.7 and
they require:
• IDIs or affiliates to notify NGEPs
that are parties to certain agreements
that these are agreements with a CRA
affiliate;
• NGEPs and IDIs or their affiliates to
make a copy of a covered agreement
available to any individual or entity
upon request;
• NGEPs to provide a copy of the
covered agreement within 30 days of
receiving a request from the relevant
supervisory agency;
• Each IDI and affiliate to provide
each relevant supervisory agency with a
copy of each covered agreement or a list
of all covered agreements entered into
during the calendar quarter, within 60
days of the end of each calendar
quarter; 8 and
• Annual reporting.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals;
Businesses or other for-profit.
Estimated Number of Respondents: 13
(7 IDIs; 6 NGEPs).
Number of Agreements: 237.
Number of Annual Reports: 9.
Estimated Total Annual Burden: 527.
On March 29, 2019, the OCC issued
a notice for 60-day of comment
concerning this collection, 84 FR 12032.
The OCC received one comment from a
trade association. The commenter first
urged a repeal of section 48 of the FDI
Act (12 U.S.C. 1831y), arguing that the
statute imposes a burdensome and
costly reporting regime that inhibits IDIs
interested in working with NGEPs. The
commenter cited a Federal Financial
Institutions Examination Council
(FFIEC) report to Congress, which stated
that section 48’s reporting requirements
are unduly burdensome.9 The
commenter also noted that examination
teams rarely request information related
to covered agreements, despite the
resources required to properly report
them.
The commenter also requested two
revisions to the OCC’s regulation. First,
the commenter requested that the OCC
eliminate the quarterly reporting
requirement, which the commenter
believes is more burdensome than the
annual reporting required by the statute.
The commenter stated that the FFIEC
8 If providing a list of covered agreements, the IDI
or affiliate must provide a copy and public version
of any agreement referenced in the list to any
relevant supervisory agency within seven calendar
days of receiving a request from the agency.
9 FFIEC Joint Report to Congress: Economic
Growth and Regulatory Paperwork Reduction Act,
53–54, available at https://www.occ.gov/newsissuances/news-releases/2017/nr-ia-2017-33a.pdf.
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Federal Register / Vol. 84, No. 131 / Tuesday, July 9, 2019 / Notices
had considered eliminating the
quarterly reporting requirement, citing
the same FFIEC report to Congress.
Second, the commenter recommended
that the OCC limit the regulation’s
applicability to legally binding, written
contracts, rather than applying it to
agreements that reflect a mutual
understanding and some oral
communications. The commenter
argued that the existing approach
increases burden and obstructs activity
in low- and moderate-income
communities.
The OCC appreciates the information
provided by the commenter. However,
to the extent the commenter disagrees
with the scope or requirements of
section 48 or the OCC’s implementing
regulation, the OCC cannot repeal the
statute, nor can it revise the regulation
through the PRA renewal process.
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 information collection
burden;
(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: July 2, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2019–14543 Filed 7–8–19; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
khammond on DSKBBV9HB2PROD with NOTICES
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Submission for OMB Review;
Margin and Capital Requirements for
Covered Swap Entities
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
AGENCY:
VerDate Sep<11>2014
17:47 Jul 08, 2019
Jkt 247001
agencies to take this opportunity to
comment on the renewal of an
information collection as required by
the Paperwork Reduction Act of 1995
(PRA).
An agency may not conduct or
sponsor, and respondents are 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, ‘‘Margin
and Capital Requirements for Covered
Swap Entities.’’ The OCC also is giving
notice that it has sent the collection to
OMB for review.
DATES: Comments must be submitted on
or before August 8, 2019.
ADDRESSES: Commenters are encouraged
to submit comments by email, if
possible. You may submit comments by
any of the following methods:
• Email: prainfo@occ.treas.gov.
• Mail: Chief Counsel’s Office,
Attention: Comment Processing, 1557–
0251, Office of the Comptroller of the
Currency, 400 7th Street SW, Suite 3E–
218, Washington, DC 20219.
• Hand Delivery/Courier: 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
• Fax: (571) 465–4326.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0251’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov 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.
Additionally, please send a copy of
your comments by mail to: OCC Desk
Officer, 1557–0251, U.S. Office of
Management and Budget, 725 17th
Street NW, #10235, Washington, DC
20503 or by email to oira_submission@
omb.eop.gov.
You may review comments and other
related materials that pertain to this
information collection 1 following the
close of the 30-day comment period for
this notice by any of the following
methods:
• Viewing Comments Electronically:
Go to www.reginfo.gov. Click on the
1 On March 29, 2019, the OCC published a 60-day
notice for this information collection, 84 FR 12031.
PO 00000
Frm 00136
Fmt 4703
Sfmt 4703
‘‘Information Collection Review’’ tab.
Underneath the ‘‘Currently under
Review’’ section heading, from the dropdown menu select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching by OMB control number
‘‘1557–0251’’ or ‘‘Margin and Capital
Requirements for Covered Swap
Entities.’’ 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.
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
• Viewing Comments Personally: You
may personally inspect comments at the
OCC, 400 7th Street SW, Washington,
DC. 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, TTY, (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 comments.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, Clearance Officer,
(202) 649–5490 or, for persons who are
deaf or hearing impaired, TTY, (202)
649–5597, Chief Counsel’s Office, Office
of the Comptroller of the Currency, 400
7th Street SW, Suite 3E–218,
Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the
PRA (44 U.S.C. 3501 et seq.), federal
agencies must obtain approval from
OMB for each collection of information
that they conduct or sponsor.
‘‘Collection of information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) to include agency requests or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. The OCC
requests that OMB extend its emergency
approval of the interim final rule
described in this notice to the
customary three years.
Title: Margin and Capital
Requirements for Covered Swap
Entities.
OMB Control No.: 1557–0251.
Description: On March 19, 2019,2 the
OCC, the Board of Governors of the
Federal Reserve System, the Federal
Deposit Insurance Corporation, the
Farm Credit Administration, and the
Federal Housing Finance Agency
2 84
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FR 9940.
09JYN1
Agencies
[Federal Register Volume 84, Number 131 (Tuesday, July 9, 2019)]
[Notices]
[Pages 32832-32834]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-14543]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Disclosure and Reporting of CRA-
Related Agreements
AGENCY: Office of the Comptroller of the Currency, Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The Office of the Comptroller of the Currency (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).
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 its information collection
titled ``Disclosure and Reporting of CRA-Related Agreements.'' The OCC
also is giving notice that the collection has been sent to OMB for
review.
DATES: Comments must be received by August 8, 2019.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
Email: [email protected].
Mail: Chief Counsel's Office, Attention: Comment
Processing, 1557-0219, Office of the Comptroller of the Currency, 400
7th Street SW, Suite 3E-218, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
Fax: (571) 465-4326.
Instructions: You must include ``OCC'' as the agency name and
``1557-0219'' in your comment. In general, the OCC will publish
comments on www.reginfo.gov 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.
[[Page 32833]]
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0219, U.S. Office of Management and Budget, 725 17th
Street NW, #10235, Washington, DC 20503 or by email to
[email protected].
You may review comments and other related materials that pertain to
this information collection \1\ following the close of the 30-day
comment period for this notice by any of the following methods:
---------------------------------------------------------------------------
\1\ On March 29, 2019, the OCC published a 60-day notice for
this information collection, 84 FR 12032.
---------------------------------------------------------------------------
Viewing Comments Electronically: Go to www.reginfo.gov.
Click on the ``Information Collection Review'' tab. Underneath the
``Currently under Review'' section heading, from the drop-down menu
select ``Department of Treasury'' and then click ``submit.'' This
information collection can be located by searching by OMB control
number ``1557-0219'' or ``Disclosure and Reporting of CRA-Related
Agreements.'' 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.
For assistance in navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
Viewing Comments Personally: You may personally inspect
comments at the OCC, 400 7th Street SW, Washington, DC. 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, TTY, (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
comments.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490 or, for persons who are deaf or hearing
impaired, TTY, (202) 649-5597, Chief Counsel's Office, Office of the
Comptroller of the Currency, Washington, DC 20219.
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 that OMB extend its approval of this collection.
Title: Disclosure and Reporting of CRA-Related Agreements.
OMB Control No.: 1557-0219.
Description: National banks, federal savings associations, and
their affiliates occasionally enter into agreements with
nongovernmental entities or persons (NGEPs) that are related to their
Community Reinvestment Act (CRA) responsibilities. Section 48 of the
Federal Deposit Insurance Act (FDI Act) \2\ requires disclosure of
certain of these agreements and imposes related reporting requirements
on insured depository institutions (IDIs), their affiliates, and NGEPs.
As mandated by the FDI Act, the OCC, the Federal Deposit Insurance
Corporation, and the Board of Governors of the Federal Reserve System
issued regulations to implement these disclosure and reporting
requirements. The disclosure and reporting provisions of these
regulations constitute collections of information under the PRA. The
regulation issued by the OCC is codified at 12 CFR 35 and is known as
the ``CRA Sunshine'' regulation.
---------------------------------------------------------------------------
\2\ 12 U.S.C. 1831y.
---------------------------------------------------------------------------
Section 48 of the FDI Act applies to written agreements that: (1)
Are made in fulfillment of the CRA; (2) involve funds or other
resources of an IDI or affiliate with an aggregate value of more than
$10,000 in a year or loans with an aggregate principal value of more
than $50,000 in a year; \3\ and (3) are entered into by an IDI or
affiliate and an NGEP.\4\
---------------------------------------------------------------------------
\3\ The definition includes groups of substantially related
agreements that satisfy these amounts in the aggregate.
\4\ 12 U.S.C. 1831y(e).
---------------------------------------------------------------------------
Under section 48, the parties to a covered agreement must make the
agreement available to the public and the appropriate agency.\5\ This
section also requires the parties to file a report annually with the
appropriate agency concerning the disbursement, receipt, and use of
funds or other resources under the agreement.\6\ The collections of
information in CRA Sunshine regulation implement these statutorily
mandated disclosure and reporting requirements. The parties to the
agreement may request confidential treatment of proprietary and
confidential information in an agreement or annual report and may
withhold from public disclosure confidential or proprietary information
in an agreement.\7\
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\5\ 12 U.S.C. 1831y(a).
\6\ 12 U.S.C. 1831y(b)-(c).
\7\ 12 CFR 35.6(b)(2), 35.8; see 12 U.S.C. 1831y(h)(2)(A).
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The information collections are found in 12 CFR 35.4(b); 35.6; and
35.7 and they require:
IDIs or affiliates to notify NGEPs that are parties to
certain agreements that these are agreements with a CRA affiliate;
NGEPs and IDIs or their affiliates to make a copy of a
covered agreement available to any individual or entity upon request;
NGEPs to provide a copy of the covered agreement within 30
days of receiving a request from the relevant supervisory agency;
Each IDI and affiliate to provide each relevant
supervisory agency with a copy of each covered agreement or a list of
all covered agreements entered into during the calendar quarter, within
60 days of the end of each calendar quarter; \8\ and
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\8\ If providing a list of covered agreements, the IDI or
affiliate must provide a copy and public version of any agreement
referenced in the list to any relevant supervisory agency within
seven calendar days of receiving a request from the agency.
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Annual reporting.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals; Businesses or other for-profit.
Estimated Number of Respondents: 13 (7 IDIs; 6 NGEPs).
Number of Agreements: 237.
Number of Annual Reports: 9.
Estimated Total Annual Burden: 527.
On March 29, 2019, the OCC issued a notice for 60-day of comment
concerning this collection, 84 FR 12032. The OCC received one comment
from a trade association. The commenter first urged a repeal of section
48 of the FDI Act (12 U.S.C. 1831y), arguing that the statute imposes a
burdensome and costly reporting regime that inhibits IDIs interested in
working with NGEPs. The commenter cited a Federal Financial
Institutions Examination Council (FFIEC) report to Congress, which
stated that section 48's reporting requirements are unduly
burdensome.\9\ The commenter also noted that examination teams rarely
request information related to covered agreements, despite the
resources required to properly report them.
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\9\ FFIEC Joint Report to Congress: Economic Growth and
Regulatory Paperwork Reduction Act, 53-54, available at https://www.occ.gov/news-issuances/news-releases/2017/nr-ia-2017-33a.pdf.
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The commenter also requested two revisions to the OCC's regulation.
First, the commenter requested that the OCC eliminate the quarterly
reporting requirement, which the commenter believes is more burdensome
than the annual reporting required by the statute. The commenter stated
that the FFIEC
[[Page 32834]]
had considered eliminating the quarterly reporting requirement, citing
the same FFIEC report to Congress. Second, the commenter recommended
that the OCC limit the regulation's applicability to legally binding,
written contracts, rather than applying it to agreements that reflect a
mutual understanding and some oral communications. The commenter argued
that the existing approach increases burden and obstructs activity in
low- and moderate-income communities.
The OCC appreciates the information provided by the commenter.
However, to the extent the commenter disagrees with the scope or
requirements of section 48 or the OCC's implementing regulation, the
OCC cannot repeal the statute, nor can it revise the regulation through
the PRA renewal process.
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 information
collection burden;
(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: July 2, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-14543 Filed 7-8-19; 8:45 am]
BILLING CODE 4810-33-P