81 FR 19289 - Agency Information Collection Activities: Information Collection Renewal; Comment Request; Community and Economic Development Entities, Community Development Projects, and Other Public Welfare Investments

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency

Federal Register Volume 81, Issue 64 (April 4, 2016)

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). An agency may not conduct or sponsor, and a 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, ``Community and Economic Development Entities, Community Development Projects, and Other Public Welfare Investments,'' under 12 CFR 24 (``Part 24'').

[Federal Register Volume 81, Number 64 (Monday, April 4, 2016)]
[Notices]
[Pages 19289-19290]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-07591]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Community and Economic Development Entities, 
Community Development Projects, and Other Public Welfare Investments

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 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).
    An agency may not conduct or sponsor, and a 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, ``Community and Economic Development Entities, Community 
Development Projects, and Other Public Welfare Investments,'' under 12 
CFR 24 (``Part 24'').

DATES:  Comments must be submitted on or before June 3, 2016.

ADDRESSES:  Because paper mail in the Washington, DC area and at the 
OCC is subject to delay, commenters are encouraged to submit comments 
by email, if possible. Comments may be sent to: Legislative and 
Regulatory Activities Division, Office of the Comptroller of the 
Currency, Attention: 1557-0194, 400 7th Street SW., Suite 3E-218, Mail 
Stop 9W-11, Washington, DC 20219. In addition, comments may be sent by 
fax to (571) 465-4326 or by electronic mail to 
[email protected]. You may personally inspect and photocopy 
comments at the OCC, 400 7th Street SW., Washington, DC 20219. 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 hard of hearing, TTY, (202) 649-5597. Upon 
arrival, visitors will be required to present valid government-issued 
photo identification and to submit to security screening in order to 
inspect and photocopy comments.
    All comments received, including attachments and other supporting 
materials, are part of the public record and subject to public 
disclosure. Do not enclose any information in your comment or 
supporting materials that you consider confidential or inappropriate 
for public disclosure.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490 or, for persons who are deaf or hard of 
hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities 
Division, Office of the Comptroller of the Currency, 400 7th Street 
SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal 
agencies must obtain approval from 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 or requirements that members of the public submit reports, 
keep records, or provide information to a third party. Section 
3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) 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 proposed collection of information 
set forth in this document.
    The OCC is proposing to extend the following information 
collection:
    Title: Community and Economic Development Entities, Community 
Development Projects, and Other Public Welfare Investments.
    OMB Control No.: 1557-0194.
    Description: This submission covers an existing regulation and 
revisions to the Part 24, CD-1, National Bank Community Development 
Investments form contained in the regulation, pursuant to which a 
national bank may notify the OCC, or request OCC approval, of certain 
community development investments.
    Section 24.5(a) provides that an eligible national bank may make an 
investment without prior notification to, or approval by, the OCC if 
the bank submits an after-the-fact notification of an investment within 
10 days of making the investment.
    Section 24.4(a) provides that a national bank may submit a written 
request or letter to the OCC to exceed the five percent limit for its 
aggregate, outstanding investments. The OCC may grant permission to the 
bank to make subsequent public welfare investments

[[Page 19290]]

without prior notification to, or approval by the OCC, using the after-
the-fact notification process consistent with Section 24.5(a).
    Section 24.5(a)(5) provides that a national bank that is not an 
eligible bank, but that is at least adequately capitalized and has a 
composite rating of at least 3 with improving trends under the Uniform 
Financial Institutions Rating System, may submit a letter to the OCC 
requesting authority to submit after-the-fact notices of its 
investments.
    Section 24.5(b) provides that if a national bank does not meet the 
requirements for after-the-fact notification, including if the bank's 
aggregate outstanding investments exceed the five percent limit, unless 
previously approved by the OCC for subsequent public welfare 
investments, the bank must submit an investment proposal to the OCC 
seeking permission to make the public welfare investment.
    The OCC requests that OMB approve its revised estimates and extend 
its approval of the information collection.
    Type of Review: Regular.
    Affected Public: Individuals; Businesses or other for-profit.
    Estimated Number of Respondents: 1100.
    Estimated Total Annual Responses: 1100.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 1710 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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: March 29, 2016.
Mary Hoyle Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2016-07591 Filed 4-1-16; 8:45 am]
 BILLING CODE 4810-33-P