Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Extensions of Credit to Insiders and Transactions With Affiliates, 15033-15034 [2020-05328]

Download as PDF Federal Register / Vol. 85, No. 51 / Monday, March 16, 2020 / Notices the estimate in the 60-day notice to reflect that the requirement that banks should create and maintain sufficient documentation to permit an audit of the organization’s processes for developing and administering incentive compensation arrangements applies to all banks. Frequency of Response: Annually. On December 12, 2019, the OCC published a notice for 60 days of comment concerning this collection, 84 FR 68012. 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 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 startup costs and costs of operation, maintenance, and purchase of services to provide information. Dated: March 10, 2020. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2020–05329 Filed 3–13–20; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; 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 lotter on DSKBCFDHB2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:29 Mar 13, 2020 Jkt 250001 soliciting comment concerning its information collection titled, ‘‘Extensions of Credit to Insiders and Transactions with Affiliates.’’ The OCC also is giving notice that it has sent the collection to OMB for review. DATES: You should submit comments by April 15, 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. Additionally, please send a copy of your comments by mail to: OCC Desk Officer, 1557–0336, 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 ‘‘1557–0336’’ or ‘‘Extensions of Credit to Insiders and Transactions with Affiliates.’’ Upon finding the appropriate information collection, click 1 On December 12, 2019, the OCC published a 60day notice for this information collection, 84 FR 68010. PO 00000 Frm 00162 Fmt 4703 Sfmt 4703 15033 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. OCC asks that OMB extend its approval of the information collection contained in this document. Title: Extensions of Credit to Insiders and Transactions with Affiliates. OMB Control No.: 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 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. 3 12 E:\FR\FM\16MRN1.SGM 16MRN1 lotter on DSKBCFDHB2PROD with NOTICES 15034 Federal Register / Vol. 85, No. 51 / Monday, March 16, 2020 / Notices 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. Appendix B to part 31 provides a comparison of selected provisions of parts 32 and 215. 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 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; 5 12 U.S.C. 1468. 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). 6 See VerDate Sep<11>2014 18:29 Mar 13, 2020 Jkt 250001 (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. On December 12, 2019, the OCC published a notice for 60 days of comment concerning this collection, 84 FR 68010. 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 start-up costs and costs of operation, maintenance, and purchase of services to provide information. Dated: March 10, 2020. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2020–05328 Filed 3–13–20; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Actions Office of Foreign Assets Control, Department of the Treasury. ACTION: Notice. AGENCY: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing updates to the identifying information of three entities currently included on OFAC’s list of Specially Designated Nationals and Blocked Persons. DATES: See SUPPLEMENTARY INFORMATION section for the date on which the updates become effective. SUMMARY: PO 00000 Frm 00163 Fmt 4703 Sfmt 4703 FOR FURTHER INFORMATION CONTACT: OFAC: Associate Director for Global Targeting, tel.: 202–622–2420; Assistant Director for Licensing, tel.: 202–622– 2480; Assistant Director for Regulatory Affairs, tel.: 202–622–4855; or Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622–2490. SUPPLEMENTARY INFORMATION: Electronic Availability The Specially Designated Nationals and Blocked Persons List (SDN List) and additional information concerning OFAC sanctions programs are available on OFAC’s website (https:// www.treasury.gov/ofac). Notice of OFAC Actions On March 11, 2020, OFAC updated the SDN List for the following entities, whose property and interests in property continue to be blocked under the Foreign Narcotics Kingpin Designation Act. Entities 1. COMERCIALIZADORA TRADE CLEAR, S.A. DE C.V. (a.k.a. BAKE AND KITCHEN), Av. Naciones Unidas 6875, Zapopan, Jalisco 45017, Mexico; Patria No. 1347–1, Col. Mirador del Sol, Zapopan, Jalisco CP 45054, Mexico; website www.bakeandkitchen.com; R.F.C. CTC140807HHA (Mexico) [SDNTK] 2. LAS FLORES CABANAS (a.k.a. CABANAS LAS FLORES; n.k.a. CABANAS LA LOMA), Km 5.4 Carretera Tapalpa—San Gabriel, Tapalpa, Jalisco 49340, Mexico; website www.cabanaslasflores.com [SDNTK] 3. OPERADORA LOS FAMOSOS, S.A. DE C.V. (a.k.a. KENZO SUSHI; a.k.a. OPERADORA LOS FAMOSOS, S.A.P.I. DE C.V.), Calle Ottawa #1568 T, Plaza Fusion Galerias, Colonia Providencia, Guadalajara, Jalisco, Mexico; Av. Providencia 1568, Providencia, Guadalajara, Jalisco 44630, Mexico; website www.kenzosushi.mx; R.F.C. OFA101214KG1 (Mexico) [SDNTK] The listings for these entities now appear as follows: 1. COMERCIALIZADORA TRADE CLEAR, S.A. DE C.V. (a.k.a. BAKE AND KITCHEN), Av. Naciones Unidas 6875, Zapopan, Jalisco 45017, Mexico; Patria No. 1347–1, Col. Mirador del Sol, Zapopan, Jalisco CP 45054, Mexico; Av. Lopez Mateos Nte 1133, Plaza Midtown, Guadalajara, Jalisco, Mexico; website www.bakeandkitchen.com; R.F.C. CTC140807HHA (Mexico) [SDNTK] 2. LAS FLORES CABANAS (a.k.a. CABANAS LAS FLORES; n.k.a. CABANAS LA LOMA; n.k.a. CABANAS LA LOMA EN RENTA; n.k.a. CABANAS LA LOMA TAPALPA), Km 5.4 Carretera Tapalpa—San Gabriel, Tapalpa, Jalisco 49340, Mexico; website www.cabanaslasflores.com; alt. Website www.cabanaslalomatapalpa.com [SDNTK] 3. OPERADORA LOS FAMOSOS, S.A. DE C.V. (a.k.a. KENZO SUSHI; a.k.a. OPERADORA LOS FAMOSOS, S.A.P.I. DE C.V.), Calle Ottawa #1568 T, Plaza Fusion Galerias, Colonia Providencia, Guadalajara, E:\FR\FM\16MRN1.SGM 16MRN1

Agencies

[Federal Register Volume 85, Number 51 (Monday, March 16, 2020)]
[Notices]
[Pages 15033-15034]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-05328]


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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; 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.'' 
The OCC also is giving notice that it has sent the collection to OMB 
for review.

DATES: You should submit comments by April 15, 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.
    Additionally, please send a copy of your comments by mail to: OCC 
Desk Officer, 1557-0336, 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 December 12, 2019, the OCC published a 60-day notice for 
this information collection, 84 FR 68010.
---------------------------------------------------------------------------

     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. 
OCC asks that OMB extend its approval of the information collection 
contained in this document.
    Title: Extensions of Credit to Insiders and Transactions with 
Affiliates.
    OMB Control No.: 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

[[Page 15034]]

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. Appendix B to part 31 provides a 
comparison of selected provisions of parts 32 and 215. 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 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.
    On December 12, 2019, the OCC published a notice for 60 days of 
comment concerning this collection, 84 FR 68010. 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 start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: March 10, 2020.
 Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2020-05328 Filed 3-13-20; 8:45 am]
 BILLING CODE 4810-33-P
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