Agency Information Collection Activities: Information Collection Renewal; Comment Request; International Regulation-Part 28, 14679-14681 [2021-05438]
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Federal Register / Vol. 86, No. 50 / Wednesday, March 17, 2021 / Notices
MLO employees to comply with these
requirements. Section 1007.103(d) sets
forth the categories of information that
an institution must require each MLO
employee to submit to the Registry or
submit on the employee’s behalf. This
section also requires each MLO
employee to submit to the Registry an
attestation as to the correctness of the
information submitted and an
authorization for the Registry and the
employing institution to obtain certain
additional information related to the
employee.
MLO Disclosure Requirement
Twelve CFR 1007.105(a) requires
institutions to make the unique
identifier(s) of its registered MLOs
available to consumers in a manner and
method practicable to the institution.
Section 1007(b) requires MLOs to
provide their unique identifier to a
consumer upon request, before acting as
an MLO, and through the originator’s
initial written communication with a
consumer, if any, whether on paper or
electronically.
Financial Institution Reporting
Requirements
Section 1007.103(e) specifies the
institution-related and employee
information an institution must submit
to the Registry in connection with the
initial registration of one or more MLOs
and annually thereafter. The institution
also must update this information
within 30 days of the date that this
information becomes inaccurate.
Employees of the institution who
submit information to the Registry on
behalf of the institution must verify
their identity and attest that they have
the authority to enter data on behalf of
the institution, that the information
submitted is correct, and that the
covered financial institution will keep
the required information current and
will file accurate supplementary
information on a timely basis.
jbell on DSKJLSW7X2PROD with NOTICES
Financial Institution Disclosure
Requirements
Section 1007.105(a) requires the
institution to make the unique
identifiers of its MLO employees
available to consumers in a manner and
method practicable to the institution.
Financial Institution Recordkeeping
Requirements
Section 1007.104 requires that an
institution that employs one or more
MLOs to adopt and follow written
policies and procedures to, at a
minimum, address certain specified
areas related to MLO registration. These
policies must be appropriate to the
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Jkt 253001
nature, size and complexity of the
institution’s mortgage lending activities.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals;
Businesses or other for-profit.
Estimated Number of Respondents:
85,353.
Estimated Total Annual Burden:
51,384 hours.
Comments submitted in response to
this notice will be summarized,
included in the request for OMB
approval, and become a matter of public
record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility;
(b) The accuracy of the OCC’s
estimate of the burden of the collection
of information;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
the collection on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and
(e) Estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2021–05524 Filed 3–16–21; 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;
International Regulation—Part 28
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
SUMMARY:
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14679
valid Office of Management and Budget
(OMB) control number. The OCC is
soliciting comment concerning the
renewal of its information collection
titled ‘‘International Regulation—Part
28.’’
Comments must be received by
May 17, 2021.
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, Office
of the Comptroller of the Currency,
Attention: 1557–0102, 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–
0102’’ 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 the following
method:
• 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
‘‘1557–0102’’ or ‘‘International
Regulation—Part 28.’’ 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.
DATES:
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.
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14680
Federal Register / Vol. 86, No. 50 / Wednesday, March 17, 2021 / Notices
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, OCC Clearance
Officer, (202) 649–5490, 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. 3501–3520), 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 renewal 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 the collection
of information set forth in this
document.
Title: International Regulation—Part
28.
OMB Control No.: 1557–0102.
Description: This submission covers
an existing regulation and involves no
change to the regulation or to the
information collection requirements.
The OCC requests only that OMB extend
its approval of the information
collection.
jbell on DSKJLSW7X2PROD with NOTICES
12 CFR 28.3 Filing Requirements for
Foreign Operations of a National
Bank—Notice Requirement
A national bank shall notify the OCC
when it (1) files an application, notice,
or report with the Board of Governors of
the Federal Reserve System (FRB) to
establish or open a foreign branch; or
acquire or divest of an interest in, or
close, an Edge corporation, Agreement
corporation, foreign bank, or other
foreign organization; or (2) opens a
foreign branch, and no application or
notice is required by the FRB for such
transaction.
The OCC also has required an
application pursuant to § 28.3(c) from a
national bank seeking to join a foreign
exchange, clearinghouse, or similar type
of organization. In lieu of a notice, the
OCC may accept a copy of an
application, notice, or report submitted
to another Federal agency that covers
the proposed action and contains
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17:47 Mar 16, 2021
Jkt 253001
substantially the same information
required by the OCC. A national bank
shall furnish the OCC with any
additional information the OCC may
require in connection with the national
bank’s foreign operations.
12 CFR 28.14(c) Limitations Based
Upon Capital of a Foreign Bank—
Aggregation
A foreign bank shall aggregate
business transacted by all Federal
branches and agencies with the business
transacted by all state branches and
agencies controlled by the foreign bank
in determining its compliance with
limitations based upon the capital of the
foreign bank. A foreign bank shall
designate one Federal branch or agency
office in the United States to maintain
consolidated information so that the
OCC can monitor compliance.
12 CFR 28.15(d), (d)(1), (d)(2), and (f)
Capital Equivalency Deposits
A foreign bank should require its
depository bank to segregate its capital
equivalency deposits (CED) on the
depository bank’s books and records.
The instruments making up the CED
that are placed in safekeeping at a
depository bank to satisfy a foreign
bank’s CED requirement must be
maintained pursuant to an agreement
prescribed by the OCC that shall be a
written agreement entered into with the
OCC. Each Federal branch or agency
shall maintain a capital equivalency
account and keep records of the amount
of liabilities requiring capital
equivalency coverage in a manner and
form prescribed by the OCC. A foreign
bank’s CED may not be reduced in value
below the minimum required for that
branch or agency without the prior
approval of the OCC, but in no event
may the value fall below the statutory
minimum.
12 CFR 28.16(c) Deposit-Taking by an
Uninsured Federal Branch—
Application for an Exemption
A foreign bank may apply to the OCC
for an exemption to permit an
uninsured Federal branch to accept or
maintain deposit accounts that are not
listed in § 28.16(b). The request should
describe the types, sources, and
estimated amount of such deposits and
explain why the OCC should grant an
exemption, and how the exemption
maintains and furthers the policies
described in § 28.16(a).
12 CFR 28.16(d) Deposit-Taking by an
Uninsured Federal Branch—
Aggregation of Deposits
A foreign bank that has more than one
Federal branch in the same state may
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Fmt 4703
Sfmt 4703
aggregate deposits in all of its Federal
branches in that state, but exclude
deposits of other branches, agencies, or
wholly owned subsidiaries of the bank.
The Federal branch shall compute the
average amount by using the sum of
deposits as of the close of business of
the last 30 calendar days ending with,
and including, the last day of the
calendar quarter, divided by 30. The
Federal branch shall maintain records of
the calculation until its next
examination by the OCC.
12 CFR 28.18(c)(1) Recordkeeping and
Reporting—Maintenance of Accounts,
Books, and Records
Each Federal branch or agency shall
maintain a set of accounts and records
reflecting its transactions that are
separate from those of the foreign bank
and any other branch or agency. The
Federal branch or agency shall keep a
set of accounts and records in English
sufficient to permit the OCC to examine
the condition of the Federal branch or
agency and its compliance with
applicable laws and regulations.
12 CFR 28.20(a)(1) Maintenance of
Assets—General Rule
The OCC may require a foreign bank
to hold certain assets in the state in
which its Federal branch or agency is
located.
12 CFR 28.22(e) Voluntary
Liquidation—Reports of Examination
The Federal branch or agency shall
send the OCC certification that all of its
Reports of Examination have been
destroyed or return its Reports of
Examination to the OCC.
Type of Review: Regular.
Affected Public: Businesses or other
for-profit.
Estimated Number of Respondents:
52.
Estimated Total Annual Burden:
2,294.
Frequency of Response: On occasion.
Comments submitted in response to
this notice will be summarized,
included in the request for OMB
approval, and become a matter of public
record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility;
(b) The accuracy of the OCC’s
estimate of the burden of the collection
of information;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
the collection on respondents, including
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Federal Register / Vol. 86, No. 50 / Wednesday, March 17, 2021 / Notices
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.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2021–05438 Filed 3–16–21; 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; Libor
Self-Assessment
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 new 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 a collection of
information titled, ‘‘Libor SelfAssessment.’’
SUMMARY:
Comments must be submitted on
or before May 17, 2021.
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, Office
of the Comptroller of the Currency,
Attention: 1557–0349, 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–
0349’’ in your comment. In general, the
OCC will publish comments on
jbell on DSKJLSW7X2PROD with NOTICES
DATES:
VerDate Sep<11>2014
17:47 Mar 16, 2021
Jkt 253001
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 the following
method:
• 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
‘‘1557–0349’’ or ‘‘Libor SelfAssessment.’’ 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.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, Clearance Officer,
(202) 649–5490, Chief Counsel’s Office,
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 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 renewal of an existing
collection of information, before
submitting the collection to OMB for
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
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Sfmt 4703
14681
approval. To comply with this
requirement, the OCC is publishing
notice of the renewal of the collection
of information set forth in this
document, which was approved on an
emergency basis.
Title: Libor Self-Assessment.
OMB Control No.: 1557–0349.
Type of Review: Regular.
Description: The expected cessation of
the London InterBank Offered Rate
(Libor) prompted the OCC to create a
self-assessment tool for banks to use in
preparing for the expected Libor
cessation. The self-assessment tool may
be used in assessing the appropriateness
of a bank’s Libor transition plan, in the
execution of the plan by its
management, and in related matters.
The Intercontinental Exchange Libor
is a reference rate that is intended to
reflect the cost of unsecured interbank
borrowing. Libor is published daily in
five currencies with seven maturities
ranging from overnight to 12 months. It
is used globally in the over-the-counter
derivatives market, bonds, loan
products, and securitizations. As of the
end of 2016, $199 trillion of financial
instruments were exposed to U.S. dollar
(USD) Libor as the primary reference
rate.
While certain reference rates have
ceased to be reported in the past, the
significant exposure of the financial
markets to Libor creates the need for
banks to assess whether they are
identifying applicable risks, preparing
for the cessation, and successfully
transitioning to replacement rates. Libor
is referenced globally, and its cessation
could affect banks of all sizes through
direct or indirect exposure.
There is risk of market disruptions,
litigation, and destabilized balance
sheets if acceptable replacement rates
do not attract sufficient market-wide
acceptance or if contracts cannot
seamlessly transition to new rates. A
bank’s risk exposure from expected
Libor cessation depends on the bank’s
specific circumstances. Many
community banks may not offer
products or services that use Libor.
However, community banks could have
Libor exposure in positions such as
Federal Home Loan Bank (FHLB)
borrowings, mortgage-backed securities,
or bonds in the banks’ investment
portfolios.
Libor exposure can exist in all
product categories and lines of business,
both on or off the balance sheet, and in
asset management activities. Risk can
also emanate from third-party
relationships because Libor is often
used in pricing models, financial
models, and in other parts of banks’
infrastructure, such as core processing.
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]]>Agencies
[Federal Register Volume 86, Number 50 (Wednesday, March 17, 2021)]
[Notices]
[Pages 14679-14681]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-05438]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; International Regulation--Part 28
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 the renewal of its information collection
titled ``International Regulation--Part 28.''
DATES: Comments must be received by May 17, 2021.
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, Office of the Comptroller of the Currency, Attention: 1557-
0102, 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
``1557-0102'' 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 the following method:
---------------------------------------------------------------------------
\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 ``1557-0102'' or ``International Regulation--Part 28.'' 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.
[[Page 14680]]
For assistance in navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490, 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. 3501-3520), 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 renewal 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 the collection of information set forth in this document.
Title: International Regulation--Part 28.
OMB Control No.: 1557-0102.
Description: This submission covers an existing regulation and
involves no change to the regulation or to the information collection
requirements. The OCC requests only that OMB extend its approval of the
information collection.
12 CFR 28.3 Filing Requirements for Foreign Operations of a National
Bank--Notice Requirement
A national bank shall notify the OCC when it (1) files an
application, notice, or report with the Board of Governors of the
Federal Reserve System (FRB) to establish or open a foreign branch; or
acquire or divest of an interest in, or close, an Edge corporation,
Agreement corporation, foreign bank, or other foreign organization; or
(2) opens a foreign branch, and no application or notice is required by
the FRB for such transaction.
The OCC also has required an application pursuant to Sec. 28.3(c)
from a national bank seeking to join a foreign exchange, clearinghouse,
or similar type of organization. In lieu of a notice, the OCC may
accept a copy of an application, notice, or report submitted to another
Federal agency that covers the proposed action and contains
substantially the same information required by the OCC. A national bank
shall furnish the OCC with any additional information the OCC may
require in connection with the national bank's foreign operations.
12 CFR 28.14(c) Limitations Based Upon Capital of a Foreign Bank--
Aggregation
A foreign bank shall aggregate business transacted by all Federal
branches and agencies with the business transacted by all state
branches and agencies controlled by the foreign bank in determining its
compliance with limitations based upon the capital of the foreign bank.
A foreign bank shall designate one Federal branch or agency office in
the United States to maintain consolidated information so that the OCC
can monitor compliance.
12 CFR 28.15(d), (d)(1), (d)(2), and (f) Capital Equivalency Deposits
A foreign bank should require its depository bank to segregate its
capital equivalency deposits (CED) on the depository bank's books and
records. The instruments making up the CED that are placed in
safekeeping at a depository bank to satisfy a foreign bank's CED
requirement must be maintained pursuant to an agreement prescribed by
the OCC that shall be a written agreement entered into with the OCC.
Each Federal branch or agency shall maintain a capital equivalency
account and keep records of the amount of liabilities requiring capital
equivalency coverage in a manner and form prescribed by the OCC. A
foreign bank's CED may not be reduced in value below the minimum
required for that branch or agency without the prior approval of the
OCC, but in no event may the value fall below the statutory minimum.
12 CFR 28.16(c) Deposit-Taking by an Uninsured Federal Branch--
Application for an Exemption
A foreign bank may apply to the OCC for an exemption to permit an
uninsured Federal branch to accept or maintain deposit accounts that
are not listed in Sec. 28.16(b). The request should describe the
types, sources, and estimated amount of such deposits and explain why
the OCC should grant an exemption, and how the exemption maintains and
furthers the policies described in Sec. 28.16(a).
12 CFR 28.16(d) Deposit-Taking by an Uninsured Federal Branch--
Aggregation of Deposits
A foreign bank that has more than one Federal branch in the same
state may aggregate deposits in all of its Federal branches in that
state, but exclude deposits of other branches, agencies, or wholly
owned subsidiaries of the bank. The Federal branch shall compute the
average amount by using the sum of deposits as of the close of business
of the last 30 calendar days ending with, and including, the last day
of the calendar quarter, divided by 30. The Federal branch shall
maintain records of the calculation until its next examination by the
OCC.
12 CFR 28.18(c)(1) Recordkeeping and Reporting--Maintenance of
Accounts, Books, and Records
Each Federal branch or agency shall maintain a set of accounts and
records reflecting its transactions that are separate from those of the
foreign bank and any other branch or agency. The Federal branch or
agency shall keep a set of accounts and records in English sufficient
to permit the OCC to examine the condition of the Federal branch or
agency and its compliance with applicable laws and regulations.
12 CFR 28.20(a)(1) Maintenance of Assets--General Rule
The OCC may require a foreign bank to hold certain assets in the
state in which its Federal branch or agency is located.
12 CFR 28.22(e) Voluntary Liquidation--Reports of Examination
The Federal branch or agency shall send the OCC certification that
all of its Reports of Examination have been destroyed or return its
Reports of Examination to the OCC.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 52.
Estimated Total Annual Burden: 2,294.
Frequency of Response: On occasion.
Comments submitted in response to this notice will be summarized,
included in the request for OMB approval, and become a matter of public
record. Comments are invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimate of the burden of the
collection of information;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection on respondents,
including
[[Page 14681]]
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.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2021-05438 Filed 3-16-21; 8:45 am]
BILLING CODE 4810-33-P
