81 FR 42791 - Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; 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 126 (June 30, 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.'' The OCC also is giving notice that it has sent the collection to OMB for review.

[Federal Register Volume 81, Number 126 (Thursday, June 30, 2016)]
[Notices]
[Pages 42791-42792]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-15590]


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

DATES: Comments must be submitted on or before August 1, 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 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 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, 1557-0194, U.S. Office of Management and Budget, 725 17th 
Street NW., #10235, Washington, DC 20503, or by email to: oira 
[email protected].

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: The OCC is proposing to extend OMB approval 
of 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 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.
    Type of Review: Regular.
    Affected Public: Individuals; Businesses or other for-profit.
    Estimated Number of Respondents: 1,100.
    Estimated Total Annual Responses: 1,100.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 1,710 hours.
    Comments: On April 4, 2016, the OCC published a notice for 60 days 
of comment concerning this collection, 81 FR 19289. 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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.


[[Page 42792]]


    Dated: June 27, 2016.
Mary Hoyle Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2016-15590 Filed 6-29-16; 8:45 am]
 BILLING CODE P