Agency Information Collection Activities: Information Collection Renewal; Comment Request; Extensions of Credit to Insiders and Transactions With Affiliates, 68010-68011 [2019-26809]
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68010
Federal Register / Vol. 84, No. 239 / Thursday, December 12, 2019 / Notices
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Comment Request;
Extensions of Credit to Insiders and
Transactions With Affiliates
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 its
information collection titled,
‘‘Extensions of Credit to Insiders and
Transactions with Affiliates.’’
DATES: You should submit comments by
February 10, 2020.
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–
0336, 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–
0336’’ 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.
You may review comments and other
related materials that pertain to this
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
17:56 Dec 11, 2019
Jkt 250001
information collection beginning on the
date of publication of the second notice
for this collection 1 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
‘‘1557–0336’’ or ‘‘Extensions of Credit to
Insiders and Transactions with
Affiliates.’’ 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, 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 the
OMB for each collection of information
that they conduct or sponsor.
‘‘Collection of information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) to include agency requests or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. Section
3506(c)(2)(A) of title 44 requires Federal
agencies to provide a 60-day notice in
the Federal Register concerning each
proposed collection of information,
including each proposed extension of an
existing collection of information,
1 Following the close of this notice’s 60-day
comment period, the OCC will publish a second
notice with a 30-day comment period.
PO 00000
Frm 00100
Fmt 4703
Sfmt 4703
before submitting the collection to OMB
for approval. To comply with this
requirement, the OCC is publishing
notice of the renewal of this collection
of information.
Title: Extensions of Credit to Insiders
and Transactions with Affiliates.
OMB Number: 1557–0336.
Description: National banks and
Federal savings associations must
comply with rules of the Federal
Reserve Board (Board) regarding
extensions of credit to insiders
(Regulation O) 2 and transactions with
affiliates (Regulation W),3 which
implement section 22 and sections 23A
and 23B, respectively, of the Federal
Reserve Act (FRA).4 Twelve CFR part 31
addresses these transactions for national
banks and Federal savings associations.
Specifically, 12 CFR 31.2 requires
national banks and Federal savings
associations to comply with Regulation
O, and 12 CFR 31.3 requires national
banks and Federal savings associations
to comply with Regulation W. Appendix
A to part 31 provides interpretive
guidance on the application of
Regulation W to deposits between
affiliated banks. Both national banks
and Federal savings associations must
comply with Regulation O and
Regulation W.
Section 31.3(c) implements the
statutory standards for authorizing an
exemption from section 23A of the FRA
or section 11 of the Home Owners’ Loan
Act (HOLA) 5 in accordance with
section 608 of the Dodd Frank Wall
Street Reform and Consumer Protection
Act (Dodd-Frank Act). Section 608,
which became effective on July 21,
2012, amends section 23A of the FRA
and section 11 of the HOLA to authorize
the OCC to exempt, by order, a
transaction of a national bank or Federal
savings association, respectively, from
the affiliate transaction requirements of
section 23A and section 11 of the HOLA
if: (1) The OCC and the Board jointly
find the exemption to be in the public
interest and consistent with the
purposes of section 23A or section 11,
and (2) within 60 days of receiving
notice of such finding, the Federal
Deposit Insurance Corporation does not
object in writing to the finding. Such
objection would be based on a
determination that the exemption
2 12
CFR part 215.
CFR part 223.
4 12 U.S.C. 371c, 371c–1, 375a, and 375b. In
addition, section 11 of the Home Owners’ Loan Act,
12 U.S.C. 1468, includes certain restrictions on
transactions with affiliates that are not included in
FRA section 23A.
5 12 U.S.C. 1468.
3 12
E:\FR\FM\12DEN1.SGM
12DEN1
khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 84, No. 239 / Thursday, December 12, 2019 / Notices
presents an unacceptable risk to the
Deposit Insurance Fund.6
Section 31.3(d) sets forth procedures
that a national bank and Federal savings
association must follow to request such
exemptions. These procedures are
modeled after the Board’s procedures in
Regulation W. A national bank or
Federal savings association may request
an exemption from the requirements of
section 23A or section 11 of the HOLA,
as applicable, and 12 CFR part 223 for
a national bank or Federal savings
association by submitting a written
request to the Deputy Comptroller for
Licensing with a copy to the appropriate
Federal Reserve Bank. Such a request
must:
(1) Describe in detail the transaction
or relationship for which the national
bank or Federal savings association
seeks exemption;
(2) Explain why the OCC should
exempt the transaction or relationship;
(3) Explain how the exemption would
be in the public interest and consistent
with the purposes of section 23A or
section 11 of the HOLA, as applicable;
and
(4) Explain why the exemption does
not present an unacceptable risk to the
Deposit Insurance Fund.
Type of Review: Regular.
Affected Public: Businesses or other
for-profit.
Estimated Number of Respondents: 1.
Estimated Frequency of Response: On
occasion.
Estimated Total Annual Burden: 10
hours.
Comments submitted in response to
this notice will be summarized and
included in the request for OMB
approval. All comments will become a
matter of public record. Comments are
invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility;
(b) The accuracy of the OCC’s
estimate of the burden of the collection
of information;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
the collection on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and
(e) Estimates of capital or start-up
costs and costs of operation,
6 See section 608(a)(4)(A)(iv) of the Dodd-Frank
Act (exemptive authority for national banks) and
section 608(c) of the Dodd-Frank Act (exemptive
authority for Federal savings associations).
VerDate Sep<11>2014
17:56 Dec 11, 2019
Jkt 250001
maintenance, and purchase of services
to provide information.
Dated: December 5, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2019–26809 Filed 12–11–19; 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; Comment Request; Financial
Management Policies—Interest Rate
Risk
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,
‘‘Financial Management Policies—
Interest Rate Risk,’’ which is applicable
only to Federal savings associations.
DATES: Comments must be submitted on
or before February 10, 2020.
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–
0299, 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–
0299’’ 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
SUMMARY:
PO 00000
Frm 00101
Fmt 4703
Sfmt 4703
68011
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.
You may review comments and other
related materials that pertain to this
information collection beginning on the
date of publication of the second notice
for this collection 1 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
‘‘1557–0299’’ or ‘‘Financial Management
Policies—Interest Rate Risk.’’ 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, 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. The term
‘‘collection of information’’ is defined in
44 U.S.C. 3502(3) and 5 CFR 1320.3(c)
1 Following the close of this notice’s 60-day
comment period, the OCC will publish a second
notice with a 30-day comment period.
E:\FR\FM\12DEN1.SGM
12DEN1
Agencies
[Federal Register Volume 84, Number 239 (Thursday, December 12, 2019)]
[Notices]
[Pages 68010-68011]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-26809]
[[Page 68010]]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Extensions of Credit to Insiders and
Transactions With Affiliates
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 its information collection titled,
``Extensions of Credit to Insiders and Transactions with Affiliates.''
DATES: You should submit comments by February 10, 2020.
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, 1557-0336, 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
``1557-0336'' 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.
You may review comments and other related materials that pertain to
this information collection beginning on the date of publication of the
second notice for this collection \1\ by any of the following methods:
---------------------------------------------------------------------------
\1\ Following the close of this notice's 60-day comment period,
the OCC will publish a second notice with a 30-day comment period.
---------------------------------------------------------------------------
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 ``1557-0336'' or ``Extensions of Credit to Insiders and
Transactions with Affiliates.'' 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, 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 the OMB for each collection
of information that they conduct or sponsor. ``Collection of
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to
include agency requests or requirements that members of the public
submit reports, keep records, or provide information to a third party.
Section 3506(c)(2)(A) of title 44 requires Federal agencies to provide
a 60-day notice in the Federal Register concerning each proposed
collection of information, including each proposed extension of an
existing collection of information, before submitting the collection to
OMB for approval. To comply with this requirement, the OCC is
publishing notice of the renewal of this collection of information.
Title: Extensions of Credit to Insiders and Transactions with
Affiliates.
OMB Number: 1557-0336.
Description: National banks and Federal savings associations must
comply with rules of the Federal Reserve Board (Board) regarding
extensions of credit to insiders (Regulation O) \2\ and transactions
with affiliates (Regulation W),\3\ which implement section 22 and
sections 23A and 23B, respectively, of the Federal Reserve Act
(FRA).\4\ Twelve CFR part 31 addresses these transactions for national
banks and Federal savings associations. Specifically, 12 CFR 31.2
requires national banks and Federal savings associations to comply with
Regulation O, and 12 CFR 31.3 requires national banks and Federal
savings associations to comply with Regulation W. Appendix A to part 31
provides interpretive guidance on the application of Regulation W to
deposits between affiliated banks. Both national banks and Federal
savings associations must comply with Regulation O and Regulation W.
---------------------------------------------------------------------------
\2\ 12 CFR part 215.
\3\ 12 CFR part 223.
\4\ 12 U.S.C. 371c, 371c-1, 375a, and 375b. In addition, section
11 of the Home Owners' Loan Act, 12 U.S.C. 1468, includes certain
restrictions on transactions with affiliates that are not included
in FRA section 23A.
---------------------------------------------------------------------------
Section 31.3(c) implements the statutory standards for authorizing
an exemption from section 23A of the FRA or section 11 of the Home
Owners' Loan Act (HOLA) \5\ in accordance with section 608 of the Dodd
Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
Section 608, which became effective on July 21, 2012, amends section
23A of the FRA and section 11 of the HOLA to authorize the OCC to
exempt, by order, a transaction of a national bank or Federal savings
association, respectively, from the affiliate transaction requirements
of section 23A and section 11 of the HOLA if: (1) The OCC and the Board
jointly find the exemption to be in the public interest and consistent
with the purposes of section 23A or section 11, and (2) within 60 days
of receiving notice of such finding, the Federal Deposit Insurance
Corporation does not object in writing to the finding. Such objection
would be based on a determination that the exemption
[[Page 68011]]
presents an unacceptable risk to the Deposit Insurance Fund.\6\
---------------------------------------------------------------------------
\5\ 12 U.S.C. 1468.
\6\ See section 608(a)(4)(A)(iv) of the Dodd-Frank Act
(exemptive authority for national banks) and section 608(c) of the
Dodd-Frank Act (exemptive authority for Federal savings
associations).
---------------------------------------------------------------------------
Section 31.3(d) sets forth procedures that a national bank and
Federal savings association must follow to request such exemptions.
These procedures are modeled after the Board's procedures in Regulation
W. A national bank or Federal savings association may request an
exemption from the requirements of section 23A or section 11 of the
HOLA, as applicable, and 12 CFR part 223 for a national bank or Federal
savings association by submitting a written request to the Deputy
Comptroller for Licensing with a copy to the appropriate Federal
Reserve Bank. Such a request must:
(1) Describe in detail the transaction or relationship for which
the national bank or Federal savings association seeks exemption;
(2) Explain why the OCC should exempt the transaction or
relationship;
(3) Explain how the exemption would be in the public interest and
consistent with the purposes of section 23A or section 11 of the HOLA,
as applicable; and
(4) Explain why the exemption does not present an unacceptable risk
to the Deposit Insurance Fund.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 1.
Estimated Frequency of Response: On occasion.
Estimated Total Annual Burden: 10 hours.
Comments submitted in response to this notice will be summarized
and included in the request for OMB approval. All comments will become
a matter of public record. Comments are invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimate of the burden of the
collection of information;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection on respondents,
including through the use of automated collection techniques or other
forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: December 5, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-26809 Filed 12-11-19; 8:45 am]
BILLING CODE 4810-33-P