Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Extensions of Credit to Insiders and Transactions With Affiliates, 77953-77954 [2022-27596]

Download as PDF Federal Register / Vol. 87, No. 243 / Tuesday, December 20, 2022 / Notices On September 20, 2022, the OCC published a notice for 60 days of comments concerning this collection, 87 FR 57555. No comments were received. Comments continue to be solicited 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. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2022–27591 Filed 12–19–22; 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 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 January 19, 2023. lotter on DSK11XQN23PROD with NOTICES1 SUMMARY: VerDate Sep<11>2014 18:41 Dec 19, 2022 Jkt 259001 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) 293–4835. 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. Written comments and recommendations for the proposed information collection should also be sent within 30 days of publication of this notice to www.reginfo.gov/public/ do/PRAMain. You can find this information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. You may review comments and other related materials that pertain to this information collection following the close of the 30-day comment period for this notice by the method set forth in the next bullet. • Viewing Comments Electronically: Go to www.reginfo.gov. Hover over the ‘‘Information Collection Review’’ tab and click on ‘‘Information Collection Review’’ from the drop-down menu. From the ‘‘Currently under Review’’ 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 ADDRESSES: PO 00000 Frm 00167 Fmt 4703 Sfmt 4703 77953 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. If you are deaf, hard of hearing, or have a speech disability, please dial 7–1–1 to access telecommunications relay services. 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 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 and/or requirements that members of the public submit reports, keep records, or provide information to a third party. The OCC asks the OMB to extend its approval of the collection in this notice. 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 Board of Governors of the Federal Reserve System (Board) regarding extensions of credit to insiders (Regulation O) 1 and transactions with affiliates (Regulation W),2 which implement section 22 and sections 23A and 23B, respectively, of the Federal Reserve Act (FRA).3 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. Twelve CFR 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) 4 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, amended section 23A of the FRA and section 11 of the HOLA to authorize 1 12 CFR part 215. CFR part 223. 3 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. 4 12 U.S.C. 1468. 2 12 E:\FR\FM\20DEN1.SGM 20DEN1 77954 Federal Register / Vol. 87, No. 243 / Tuesday, December 20, 2022 / Notices 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.5 Twelve CFR 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 by submitting a written request to the Deputy Comptroller for Licensing with a copy to the appropriate Federal Reserve Bank. The request must: (1) Describe in detail the transaction or relationship for which the national bank or Federal savings association seeks an 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 August 22, 2022, the OCC published a 60-day notice for this information collection, (87 FR 51487). No comments were received. Comments continue to be solicited 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. lotter on DSK11XQN23PROD with NOTICES1 VerDate Sep<11>2014 18:41 Dec 19, 2022 Jkt 259001 The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List) based on OFAC’s determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. SUMMARY: See SUPPLEMENTARY INFORMATION section for effective date(s). DATES: FOR FURTHER INFORMATION CONTACT: OFAC: Andrea Gacki, Director, tel.: 202–622–2490; 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 the Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622– 2490. SUPPLEMENTARY INFORMATION: Electronic Availability [FR Doc. 2022–27596 Filed 12–19–22; 8:45 am] BILLING CODE 4810–33–P Notice of OFAC Actions DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Actions Office of Foreign Assets Control, Treasury. U.S.C. 1468. Notice. The SDN List and additional information concerning OFAC sanctions programs are available on OFAC’s website (https://www.treasury.gov/ofac). Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. AGENCY: 4 12 ACTION: PO 00000 Frm 00168 Fmt 4703 Sfmt 4703 On December 15, 2022, OFAC determined that the property and interests in property subject to U.S. jurisdiction of the following persons are blocked and also identified the following property as blocked under the relevant sanctions authority listed below. E:\FR\FM\20DEN1.SGM 20DEN1

Agencies

[Federal Register Volume 87, Number 243 (Tuesday, December 20, 2022)]
[Notices]
[Pages 77953-77954]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-27596]


-----------------------------------------------------------------------

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 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 January 19, 2023.

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) 293-4835.
    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.
    Written comments and recommendations for the proposed information 
collection should also be sent within 30 days of publication of this 
notice to www.reginfo.gov/public/do/PRAMain. You can find this 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
    You may review comments and other related materials that pertain to 
this information collection following the close of the 30-day comment 
period for this notice by the method set forth in the next bullet.
     Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' tab and click on 
``Information Collection Review'' from the drop-down menu. From the 
``Currently under Review'' 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.

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. If you are deaf, hard of hearing, or have a 
speech disability, please dial 7-1-1 to access telecommunications relay 
services.

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 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 and/or requirements that members of the public submit reports, 
keep records, or provide information to a third party. The OCC asks the 
OMB to extend its approval of the collection in this notice.
    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 Board of Governors of the Federal Reserve 
System (Board) regarding extensions of credit to insiders (Regulation 
O) \1\ and transactions with affiliates (Regulation W),\2\ which 
implement section 22 and sections 23A and 23B, respectively, of the 
Federal Reserve Act (FRA).\3\ 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.
---------------------------------------------------------------------------

    \1\ 12 CFR part 215.
    \2\ 12 CFR part 223.
    \3\ 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.
---------------------------------------------------------------------------

    Twelve CFR 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) \4\ 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, 
amended section 23A of the FRA and section 11 of the HOLA to authorize

[[Page 77954]]

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.\5\
---------------------------------------------------------------------------

    \4\ 12 U.S.C. 1468.
    \5\ 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).
---------------------------------------------------------------------------

    Twelve CFR 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 by submitting a written 
request to the Deputy Comptroller for Licensing with a copy to the 
appropriate Federal Reserve Bank. The request must:
    (1) Describe in detail the transaction or relationship for which 
the national bank or Federal savings association seeks an 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 August 22, 2022, the OCC published a 60-day notice for this 
information collection, (87 FR 51487). No comments were received. 
Comments continue to be solicited 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. 2022-27596 Filed 12-19-22; 8:45 am]
BILLING CODE 4810-33-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.