Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; International Regulation-Part 28, 86081-86082 [2024-25031]

Agencies

• Office of the Comptroller of the Currency
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 89, Number 209 (Tuesday, October 29, 2024)]
[Notices]
[Pages 86081-86082]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-25031]


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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; International Regulation--Part 28

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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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 the renewal of its information collection titled, 
``International Regulation--Part 28.'' The OCC also is giving notice 
that it has sent the collection to OMB for review.

DATES: Comments must be received by November 29, 2024.

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) 293-4835.
    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.
    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 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.
     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. 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 that they conduct or sponsor. ``Collection of 
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to 
include agency requests or requirements that members of the public 
submit reports, keep records, or provide information to a third party. 
The OCC asks the OMB to extend its approval of the collection in this 
notice.
    Title: International Regulation--Part 28.
    OMB Control No.: 1557-0102.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit.
    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

    Under 12 CFR 28.3(a), 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

[[Page 86082]]

organization; or (2) opens a foreign branch and no application or 
notice is required by the FRB for such transaction. Section 28.3(b) 
provides that 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. Pursuant to Sec.  28.3(c), the OCC may 
require additional information in the form of an application from a 
national bank seeking to join a foreign exchange, clearinghouse, or 
similar type of organization. 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

    Under Sec.  28.15(d), a foreign bank should require its depository 
bank to segregate its capital equivalency deposits (CED) on the 
depository bank's books and records. Pursuant to Sec.  28.15(d)(2), 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. Section 28.15(f) further 
provides that 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. Finally, under Sec.  28.15(d)(1), 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.
    Estimated Burden: $296,843.60.
    Estimated Frequency of Response: On occasion.
    Estimated Number of Respondents: 52.
    Estimated Total Annual Burden: 2,294 hours.
    Comments: On August 23, 2024, the OCC published a 60-day notice for 
this information collection, (89 FR 68240). 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.

Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2024-25031 Filed 10-28-24; 8:45 am]
BILLING CODE 4810-33-P