83 FR 24591 - Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; International Regulation
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 83, Issue 103 (May 29, 2018)
Office of the Comptroller of the Currency
Federal Register Volume 83, Issue 103 (May 29, 2018)
| Page Range | 24591-24592 | |
| FR Document | 2018-11428 |
[Federal Register Volume 83, Number 103 (Tuesday, May 29, 2018)] [Notices] [Pages 24591-24592] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-11428] [[Page 24591]] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; International Regulation 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 ``International Regulation.'' The OCC also is giving notice that it has sent the collection to OMB for review. DATES: Comments must be received by June 28, 2018. 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: Legislative and Regulatory Activities Division, 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) 465-4326. Instructions: You must include ``OCC'' as the agency name and ``1557-0102'' 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. Additionally, please send a copy of your comments by mail to: OCC Desk Officer, 1557-0102, U.S. Office of Management and Budget, 725 17th Street NW, #10235, Washington, DC 20503 or by email to [email protected]. You may review comments and other related materials that pertain to this information collection \1\ following the close of the 30-day comment period for this notice by any of the following methods: --------------------------------------------------------------------------- \1\ On February 2, 2018, the OCC published a 60-day notice for this information 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 ``1557-0102'' or ``International Regulation''. 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 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 comments. FOR FURTHER INFORMATION CONTACT: 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, Suite 3E-218, Washington, DC 20219. SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), 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 OMB to extend its approval of the following collection. Title: International Regulation. OMB Control No.: 1557-0102. 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 A national bank shall notify the OCC when it files an application, notice, or report with the FRB \2\ 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 organization; or opens a foreign branch, and no application or notice is required by the FRB for such transaction. --------------------------------------------------------------------------- \2\ Board of Governors of the Federal Reserve System. --------------------------------------------------------------------------- In practice, the OCC also has required an application pursuant to Sec. 28.3(c) from a national bank seeking to join a foreign exchange, clearinghouse, or similar type of organization. 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. 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 A foreign bank should require its depository bank to segregate its capital equivalency deposits on the depository bank's books and records. The instruments making up the capital equivalency deposit that are placed in [[Page 24592]] safekeeping at a depository bank to satisfy a foreign bank's capital equivalency deposit requirement must be maintained pursuant to an agreement prescribed by the OCC that shall be a written agreement entered into with the OCC. 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. A foreign bank's capital equivalency deposits 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) 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. Type of Review: Regular. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 52. Estimated Total Annual Burden: 2,286. Frequency of Response: On occasion. The OCC issued a notice for 60 days of comment on February 2, 2018, 83 FR 4956. 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. Dated: May 22, 2018. Karen Solomon, Acting Senior Deputy Comptroller and Chief Counsel. [FR Doc. 2018-11428 Filed 5-25-18; 8:45 am] BILLING CODE 4810-33-P
![24592 Federal Register / Vol. 83, No. 103 / Tuesday, May 29, 2018 / Notices
safekeeping at a depository bank to 12 CFR 28.20(a)(1) Maintenance of paperwork and respondent burden,
satisfy a foreign bank’s capital Assets—General Rule invites the public and other Federal
equivalency deposit requirement must The OCC may require a foreign bank agencies to take this opportunity to
be maintained pursuant to an agreement to hold certain assets in the state in comment on proposed and/or
prescribed by the OCC that shall be a which its federal branch or agency is continuing information collections, as
written agreement entered into with the located. required by the Paperwork Reduction
OCC. Each federal branch or agency Act of 1995. Currently, the IRS is
shall maintain a capital equivalency 12 CFR 28.22(e) Reports of Examination soliciting comments concerning a notice
account and keep records of the amount The federal branch or agency shall regarding repayment of a buyout prior to
of liabilities requiring capital send the OCC certification that all of its re-employment with the Federal
equivalency coverage in a manner and Reports of Examination have been Government.
form prescribed by the OCC. A foreign destroyed or return its Reports of DATES: Written comments should be
bank’s capital equivalency deposits may Examination to the OCC. received on or before July 30, 2018 to be
not be reduced in value below the Type of Review: Regular. assured of consideration.
minimum required for that branch or Affected Public: Businesses or other
for-profit. ADDRESSES: Direct all written comments
agency without the prior approval of the to Roberto Mora-Figueroa, Internal
OCC, but in no event may the value fall Estimated Number of Respondents:
52. Revenue Service, Room 6129, 1111
below the statutory minimum. Constitution Avenue NW, Washington,
Estimated Total Annual Burden:
12 CFR 28.16(c) Deposit-Taking by an 2,286. DC 20224. Requests for additional
Uninsured Federal Branch— Frequency of Response: On occasion. information or copies of the regulations
Application for an Exemption The OCC issued a notice for 60 days should be directed to R. Joseph Durbala,
of comment on February 2, 2018, 83 FR at Internal Revenue Service, Room 6129,
A foreign bank may apply to the OCC 4956. No comments were received. 1111 Constitution Avenue NW,
for an exemption to permit an Comments continue to be invited on: Washington, DC 20224, or through the
uninsured federal branch to accept or (a) Whether the collection of internet, at RJoseph.Durbala@irs.gov.
maintain deposit accounts that are not information is necessary for the proper SUPPLEMENTARY INFORMATION:
listed in § 28.16(b). The request should performance of the functions of the Title: Repayment of a buyout prior to
describe the types, sources, and OCC, including whether the information re-employment with the Federal
estimated amount of such deposits and has practical utility; Government.
explain why the OCC should grant an (b) The accuracy of the OCC’s OMB Number: 1545–1920.
exemption, and how the exemption estimate of the burden of the collection Form Number: 12311.
maintains and furthers the policies of information; Abstract: This form requests
described in § 28.16(a). (c) Ways to enhance the quality, applicants to certify if they ever worked
utility, and clarity of the information to for the Federal Government and if they
12 CFR 28.16(d) Deposit-Taking by an be collected; received a Buyout within the last 5
Uninsured Federal Branch— (d) Ways to minimize the burden of years. This is to ensure that applicants
Aggregation of Deposits the collection on respondents, including who meet the criteria are counseled that
through the use of automated collection they are required to pay back the entire
A foreign bank that has more than one techniques or other forms of information
federal branch in the same state may Buyout prior to entering on duty with
technology; and the IRS.
aggregate deposits in all of its federal (e) Estimates of capital or start-up
branches in that state, but exclude Current Actions: There is no change to
costs and costs of operation,
deposits of other branches, agencies, or the burden previously approved.
maintenance, and purchase of services Type of Review: Extension of a
wholly owned subsidiaries of the bank. to provide information. currently approved collection.
The federal branch shall compute the Dated: May 22, 2018. Affected Public: Individuals or
average amount by using the sum of
Karen Solomon, households and Federal Government.
deposits as of the close of business of
Acting Senior Deputy Comptroller and Chief Estimated Number of Respondents:
the last 30 calendar days ending with,
Counsel. 6,624.
and including, the last day of the Estimated Time Per Respondent: 4.8
[FR Doc. 2018–11428 Filed 5–25–18; 8:45 am]
calendar quarter, divided by 30. The mins.
BILLING CODE 4810–33–P
federal branch shall maintain records of Estimated Total Annual Burden
the calculation until its next Hours: 530.
examination by the OCC. The following paragraph applies to all
DEPARTMENT OF THE TREASURY
12 CFR 28.18(c)(1) Recordkeeping and the collections of information covered
Reporting—Maintenance of Accounts, Internal Revenue Service by this notice:
Books, and Records An agency may not conduct or
Proposed Extension of Information sponsor, and a person is not required to
Each federal branch or agency shall Collection Request Submitted for respond to, a collection of information
maintain a set of accounts and records Public Comment; Repayment of a unless the collection of information
reflecting its transactions that are Buyout Prior to Re-employment With displays a valid OMB control number.
separate from those of the foreign bank the Federal Government Books or records relating to a
daltland on DSKBBV9HB2PROD with NOTICES
and any other branch or agency. The AGENCY: Internal Revenue Service (IRS), collection of information must be
federal branch or agency shall keep a set Treasury. retained if their contents may become
of accounts and records in English ACTION: Notice and request for material in the administration of any
sufficient to permit the OCC to examine comments. internal revenue law. Generally, tax
the condition of the federal branch or returns and tax return information are
agency and its compliance with SUMMARY: The Internal Revenue Service, confidential, as required by 26 U.S.C.
applicable laws and regulations. as part of its continuing effort to reduce 6103.
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Document Created: 2018-05-26 00:48:29
Document Modified: 2018-05-26 00:48:29
| 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 received by June 28, 2018. | |
| Contact | 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, Suite 3E-218, Washington, DC 20219. | |
| FR Citation | 83 FR 24591 |
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