83 FR 14316 - Agency Information Collection Activities: Information Collection Renewal; Comment Request; Subordinated Debt Licensing Requirements
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 83, Issue 64 (April 3, 2018)
Office of the Comptroller of the Currency
Federal Register Volume 83, Issue 64 (April 3, 2018)
| Page Range | 14316-14317 | |
| FR Document | 2018-06583 |
[Federal Register Volume 83, Number 64 (Tuesday, April 3, 2018)] [Notices] [Pages 14316-14317] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-06583] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Comment Request; Subordinated Debt Licensing Requirements 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, ``Subordinated Debt Licensing Requirements.'' DATES: Comments must be submitted on or before June 4, 2018. 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. You may submit comments by any of the following methods:Email: prainfo@occ.treas.gov. Mail: Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Attention: 1557-0320, 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 ``1557-0320'' in your comment. In general, the OCC will publish them on www.reginfo.gov without change, including any business or personal information that you provide, 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 any of the following methods: --------------------------------------------------------------------------- \1\ Following the close of the 60-Day comment period for this notice, the OCC will publish a notice for 30 days of comment for this collection. --------------------------------------------------------------------------- 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 ``1557-0320'' or ``Subordinated Debt Licensing Requirements.'' 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. Viewing Comments Personally: You may personally inspect and photocopy comments at the OCC, 400 7th Street SW, Washington, DC. 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 hearing impaired, 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. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, for persons who are deaf or hearing impaired, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, 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 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 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 proposed collection of information set forth in this document. Title: Subordinated Debt Licensing Requirements. OMB Control No.: 1557-0320. Frequency of Response: On occasion. Affected Public: Business or other for-profit. Burden Estimates: Prepayment of Subordinated Debt in Form of Call Option: 184 Respondents; 1.30 burden hours per respondent; 239 total burden hours. Authority to Limit Distributions: 42 Respondents; 0.5 hours per respondent; 21 total burden hours. Total Burden: 260 hours. Description: The scope of this Information Collection Renewal is limited to the following: (1) The 12 CFR 5.47(g) and 12 CFR 5.56(b) requirements that national banks and federal savings associations (collectively, ``institutions'') apply for OCC approval prior to prepaying subordinated debt if the prepayment is in the form of a call option; and (2) the 12 CFR 5.47(d) requirement that national banks issuing subordinated debt disclose the OCC's authority under 12 CFR 3.11 to limit distributions. National banks must receive prior OCC approval in order to prepay subordinated debt that is included in tier 2 capital, and certain banks must receive prior approval to prepay subordinated debt that is not included in tier 2 capital. If the prepayment is in the form of a call option, a national bank must submit the information required [[Page 14317]] for general prepayment requests under 12 CFR 5.47(g)(1)(ii)(A) and also comply with 12 CFR 5.47(g)(1)(ii)(B)(2), which requires a national bank to submit either: (1) A statement explaining why the bank believes that following the proposed prepayment the bank would continue to hold an amount of capital commensurate with its risk; or (2) a description of the replacement capital instrument that meets the criteria for tier 1 or tier 2 capital under 12 CFR 3.20, including the amount of such instrument and the time frame for issuance. Federal savings associations must receive OCC approval prior to prepaying subordinated debt securities or mandatorily redeemable preferred stock included in tier 2 capital. If the prepayment is in the form of a call option, a federal savings association must submit the information required for general prepayment requests under 12 CFR 5.56(b)(2)(i) and also comply with 12 CFR 5.56(b)(2)(ii)(A), which requires a federal savings association to submit either: (1) A statement explaining why the federal savings association believes that following the proposed prepayment the savings association would continue to hold an amount of capital commensurate with its risk; or (2) a description of the replacement capital instrument that meets the criteria for tier 1 or tier 2 capital under 12 CFR 3.20, including the amount of such instrument and the time frame for issuance. Pursuant to 12 CFR 5.47(d)(3)(ii)(C), a national bank issuing subordinated debt must disclose on the face of the note the OCC's authority under 12 CFR 3.11 to limit distributions, including interest payments on any tier 2 capital instrument if the national bank has full discretion to permanently or temporarily suspend such payments without triggering an event of default. 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 collections of information are necessary for the proper performance of the OCC's functions, including whether the information has practical utility; (b) The accuracy of the OCC's estimates of the burden of the information collections, including the validity of the methodology and assumptions used; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; and (d) Ways to minimize the burden of information collections on respondents, including through the use of automated collection techniques or other forms of information technology. Dated: March 27, 2018. Karen Solomon, Acting First Deputy Comptroller and Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2018-06583 Filed 4-2-18; 8:45 am] BILLING CODE 4810-33-P
![14316 Federal Register / Vol. 83, No. 64 / Tuesday, April 3, 2018 / Notices
(c) Ways to enhance the quality, 1557–0320, 400 7th Street SW, Suite FOR FURTHER INFORMATION CONTACT:
utility, and clarity of the information to 3E–218, Washington, DC 20219. Shaquita Merritt, OCC Clearance
be collected; • Hand Delivery/Courier: 400 7th Officer, (202) 649–5490 or, for persons
(d) Ways to minimize the burden of Street SW, Suite 3E–218, Washington, who are deaf or hearing impaired, TTY,
the collection on respondents, including DC 20219. (202) 649–5597, Legislative and
through the use of automated collection • Fax: (571) 465–4326. Regulatory Activities Division, Office of
techniques or other forms of information Instructions: You must include the Comptroller of the Currency, 400 7th
technology; and ‘‘OCC’’ as the agency name and ‘‘1557– Street SW, Washington, DC 20219.
(e) Estimates of capital or start-up 0320’’ in your comment. In general, the SUPPLEMENTARY INFORMATION: Under the
costs and costs of operation, OCC will publish them on PRA (44 U.S.C. 3501–3520), federal
maintenance, and purchase of services www.reginfo.gov without change, agencies must obtain approval from
to provide information. including any business or personal OMB for each collection of information
information that you provide, such as they conduct or sponsor. ‘‘Collection of
Dated: March 26, 2018.
name and address information, email information’’ is defined in 44 U.S.C.
Karen Solomon,
addresses, or phone numbers. 3502(3) and 5 CFR 1320.3(c) to include
Acting Senior Deputy Comptroller and Chief Comments received, including
Counsel. agency requests or requirements that
attachments and other supporting members of the public submit reports,
[FR Doc. 2018–06582 Filed 4–2–18; 8:45 am] materials, are part of the public record keep records, or provide information to
BILLING CODE 4810–33–P and subject to public disclosure. Do not a third party. Section 3506(c)(2)(A) of
include any information in your the PRA (44 U.S.C. 3506(c)(2)(A))
comment or supporting materials that requires federal agencies to provide a
DEPARTMENT OF THE TREASURY you consider confidential or 60-day notice in the Federal Register
Office of the Comptroller of the inappropriate for public disclosure. concerning each proposed collection of
You may review comments and other information, including each renewal of
Currency
related materials that pertain to this an existing collection of information,
Agency Information Collection information collection beginning on the before submitting the collection to OMB
Activities: Information Collection date of publication of the second notice for approval. To comply with this
Renewal; Comment Request; for this collection 1 by any of the requirement, the OCC is publishing
Subordinated Debt Licensing following methods: notice of the proposed collection of
Requirements • Viewing Comments Electronically: information set forth in this document.
Go to www.reginfo.gov. Click on the Title: Subordinated Debt Licensing
AGENCY: Office of the Comptroller of the ‘‘Information Collection Review’’ tab. Requirements.
Currency (OCC), Treasury. Underneath the ‘‘Currently under OMB Control No.: 1557–0320.
ACTION: Notice and request for comment. Review’’ section heading, from the drop- Frequency of Response: On occasion.
down menu, select ‘‘Department of Affected Public: Business or other for-
SUMMARY: The OCC, as part of its Treasury’’ and then click ‘‘submit.’’ This
continuing effort to reduce paperwork profit.
information collection can be located by Burden Estimates:
and respondent burden, invites the searching by OMB control number
general public and other federal Prepayment of Subordinated Debt in
‘‘1557–0320’’ or ‘‘Subordinated Debt Form of Call Option: 184 Respondents;
agencies to take this opportunity to Licensing Requirements.’’ Upon finding
comment on a continuing information 1.30 burden hours per respondent; 239
the appropriate information collection, total burden hours.
collection as required by the Paperwork click on the related ‘‘ICR Reference
Reduction Act of 1995 (PRA). Authority to Limit Distributions: 42
Number.’’ On the next screen, select Respondents; 0.5 hours per respondent;
In accordance with the requirements ‘‘View Supporting Statement and Other
of the PRA, the OCC may not conduct 21 total burden hours.
Documents’’ and then click on the link Total Burden: 260 hours.
or sponsor, and the respondent is not to any comment listed at the bottom of
required to respond to, an information Description: The scope of this
the screen. Information Collection Renewal is
collection unless it displays a currently • For assistance in navigating
valid Office of Management and Budget limited to the following: (1) The 12 CFR
www.reginfo.gov, please contact the
(OMB) control number. 5.47(g) and 12 CFR 5.56(b) requirements
Regulatory Information Service Center
The OCC is soliciting comment that national banks and federal savings
at (202) 482–7340.
associations (collectively,
concerning the renewal of its • Viewing Comments Personally: You
information collection titled, ‘‘institutions’’) apply for OCC approval
may personally inspect and photocopy
‘‘Subordinated Debt Licensing prior to prepaying subordinated debt if
comments at the OCC, 400 7th Street
Requirements.’’ the prepayment is in the form of a call
SW, Washington, DC. For security
option; and (2) the 12 CFR 5.47(d)
DATES: Comments must be submitted on reasons, the OCC requires that visitors
requirement that national banks issuing
or before June 4, 2018. make an appointment to inspect
subordinated debt disclose the OCC’s
comments. You may do so by calling
ADDRESSES: Because paper mail in the authority under 12 CFR 3.11 to limit
(202) 649–6700 or, for persons who are
Washington, DC area and at the OCC is distributions.
deaf or hearing impaired, TTY, (202)
subject to delay, commenters are National banks must receive prior
649–5597. Upon arrival, visitors will be
encouraged to submit comments by OCC approval in order to prepay
required to present valid government-
amozie on DSK30RV082PROD with NOTICES
email, if possible. You may submit subordinated debt that is included in
issued photo identification and submit
comments by any of the following tier 2 capital, and certain banks must
to security screening in order to inspect
methods: receive prior approval to prepay
and photocopy comments.
• Email: prainfo@occ.treas.gov. subordinated debt that is not included
• Mail: Legislative and Regulatory 1 Following the close of the 60-Day comment in tier 2 capital. If the prepayment is in
Activities Division, Office of the period for this notice, the OCC will publish a notice the form of a call option, a national bank
Comptroller of the Currency, Attention: for 30 days of comment for this collection. must submit the information required
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![Federal Register / Vol. 83, No. 64 / Tuesday, April 3, 2018 / Notices 14317
for general prepayment requests under (d) Ways to minimize the burden of Individuals
12 CFR 5.47(g)(1)(ii)(A) and also comply information collections on respondents, 1. YUSUF, Mohamed Mire Ali (a.k.a. ALI,
with 12 CFR 5.47(g)(1)(ii)(B)(2), which including through the use of automated Mohamed Mire; a.k.a. MIRE, Mohamed; a.k.a.
requires a national bank to submit collection techniques or other forms of MIRE, Mohamed Ali; a.k.a. MIRE,
either: (1) A statement explaining why information technology. Muhammad), Puntland, Somalia; Dubai,
the bank believes that following the United Arab Emirates; DOB 1975; alt. DOB
Dated: March 27, 2018. 1974; alt. DOB 1976; nationality Somalia;
proposed prepayment the bank would Karen Solomon, Gender Male (individual) [SDGT] (Linked To:
continue to hold an amount of capital ISLAMIC STATE OF IRAQ AND THE
Acting First Deputy Comptroller and Chief
commensurate with its risk; or (2) a Counsel, Office of the Comptroller of the LEVANT).
description of the replacement capital Currency. Designated pursuant to section 1(d)(i) of
instrument that meets the criteria for [FR Doc. 2018–06583 Filed 4–2–18; 8:45 am]
Executive Order 13224 of September 23,
tier 1 or tier 2 capital under 12 CFR 2001, ‘‘Blocking Property and Prohibiting
BILLING CODE 4810–33–P Transactions With Persons Who Commit,
3.20, including the amount of such
instrument and the time frame for Threaten to Commit, or Support Terrorism’’
(E.O. 13224) for assisting in, sponsoring, or
issuance. DEPARTMENT OF THE TREASURY providing financial, material, or
Federal savings associations must technological support for, or financial or
receive OCC approval prior to prepaying Office of Foreign Assets Control other services to or in support of, ISLAMIC
subordinated debt securities or STATE OF IRAQ AND THE LEVANT, an
mandatorily redeemable preferred stock Notice of OFAC Sanctions Actions entity determined to be subject to E.O. 13224.
included in tier 2 capital. If the 2. SAKARYA, Yunus Emre (a.k.a. ‘‘AL-
prepayment is in the form of a call AGENCY: Office of Foreign Assets ALMANI, Yunus’’; a.k.a. ‘‘AL-HAIEBI,
option, a federal savings association Control, Treasury. Younes’’), Al Mayadin, Syria; Turkey; DOB
22 Apr 1991; POB Bruhl, Germany; citizen
must submit the information required ACTION: Notice. Germany; alt. citizen Turkey; Gender Male;
for general prepayment requests under Passport C7480TP630 (Germany); National ID
12 CFR 5.56(b)(2)(i) and also comply SUMMARY: The Department of the No. L749X688M2 (Germany); alt. National ID
with 12 CFR 5.56(b)(2)(ii)(A), which Treasury’s Office of Foreign Assets No. 523884049 (Germany) (individual)
requires a federal savings association to Control (OFAC) is publishing the names [SDGT] (Linked To: ISLAMIC STATE OF
submit either: (1) A statement of six persons that have been placed on IRAQ AND THE LEVANT).
explaining why the federal savings OFAC’s Specially Designated Nationals Designated pursuant to section 1(d)(i) of
association believes that following the and Blocked Persons List based on Executive Order 13224 of September 23,
OFAC’s determination that one or more 2001, ‘‘Blocking Property and Prohibiting
proposed prepayment the savings Transactions With Persons Who Commit,
association would continue to hold an applicable legal criteria were satisfied. Threaten to Commit, or Support Terrorism’’
amount of capital commensurate with All property and interests in property (E.O. 13224) for assisting in, sponsoring, or
its risk; or (2) a description of the subject to U.S. jurisdiction of these providing financial, material, or
replacement capital instrument that persons are blocked, and U.S. persons technological support for, or financial or
meets the criteria for tier 1 or tier 2 are generally prohibited from engaging other services to or in support of, ISLAMIC
capital under 12 CFR 3.20, including the in transactions with them. STATE OF IRAQ AND THE LEVANT, an
amount of such instrument and the time entity determined to be subject to E.O. 13224.
DATES: See SUPPLEMENTARY INFORMATION 3. ABUBAKAR, Abdulpatta Escalon (a.k.a.
frame for issuance. section. ABUBAKAR, Abdul Patta Escalon; a.k.a.
Pursuant to 12 CFR 5.47(d)(3)(ii)(C), a ESCALON, Abdulpatta Abubakar; a.k.a.
FOR FURTHER INFORMATION CONTACT:
national bank issuing subordinated debt ‘‘ABU BAKAR, Abdul Patta’’), Philippines;
must disclose on the face of the note the OFAC: Associate Director for Global Jeddah, Saudi Arabia; Daina, Saudi Arabia;
OCC’s authority under 12 CFR 3.11 to Targeting, tel.: 202–622–2420; Assistant DOB 03 Mar 1965; alt. DOB 01 Jan 1965; alt.
limit distributions, including interest Director for Sanctions Compliance & DOB 11 Jan 1965; POB Tuburan, Basilan
payments on any tier 2 capital Evaluation, tel.: 202–622–2490; Province, Philippines; nationality
instrument if the national bank has full Assistant Director for Licensing, tel.: Philippines; Gender Male; Passport
discretion to permanently or 202–622–2480; Assistant Director for EC6530802 (Philippines) expires 19 Jan 2021;
Regulatory Affairs, tel. 202–622–4855; alt. Passport EB2778599 (Philippines);
temporarily suspend such payments National ID No. 2135314355 (Saudi Arabia);
without triggering an event of default. or the Department of the Treasury’s
Office of the General Counsel: Office of alt. National ID No. 202112421 (Saudi
Comments submitted in response to Arabia) (individual) [SDGT] (Linked To:
this notice will be summarized and the Chief Counsel (Foreign Assets ISLAMIC STATE OF IRAQ AND THE
included in the request for OMB Control), tel.: 202–622–2410. LEVANT).
approval. All comments will become a SUPPLEMENTARY INFORMATION: Designated pursuant to section 1(d)(i) of
matter of public record. Comments are Executive Order 13224 of September 23,
Electronic Availability 2001, ‘‘Blocking Property and Prohibiting
invited on:
Transactions With Persons Who Commit,
(a) Whether the collections of The Specially Designated Nationals Threaten to Commit, or Support Terrorism’’
information are necessary for the proper and Blocked Persons List and additional (E.O. 13224) for assisting in, sponsoring, or
performance of the OCC’s functions, information concerning OFAC sanctions providing financial, material, or
including whether the information has programs are available on OFAC’s technological support for, or financial or
practical utility; website (www.treasury.gov/ofac). other services to or in support of, ISLAMIC
(b) The accuracy of the OCC’s STATE OF IRAQ AND THE LEVANT, an
Notice of OFAC Action(s)
amozie on DSK30RV082PROD with NOTICES
estimates of the burden of the entity determined to be subject to E.O. 13224.
information collections, including the On February 9, 2018, OFAC Entities
validity of the methodology and determined that the property and 1. AL-MUTAFAQ COMMERCIAL
assumptions used; interests in property subject to U.S. COMPANY, Boosaaso, Somalia [SDGT]
(c) Ways to enhance the quality, jurisdiction of the following persons are (Linked To: YUSUF, Mohamed Mire Ali).
utility, and clarity of the information to blocked under the relevant sanctions Designated pursuant to section 1(c) of
be collected; and authority listed below. Executive Order 13224 of September 23,
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Document Created: 2018-04-03 00:50:10
Document Modified: 2018-04-03 00:50:10
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice and request for comment. | |
| Dates | Comments must be submitted on or before June 4, 2018. | |
| Contact | Shaquita Merritt, OCC Clearance Officer, (202) 649-5490 or, for persons who are deaf or hearing impaired, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. | |
| FR Citation | 83 FR 14316 |
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