83 FR 4956 - Agency Information Collection Activities: Information Collection Renewal; Comment Request; International Regulation

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency

Federal Register Volume 83, Issue 23 (February 2, 2018)

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.''

[Federal Register Volume 83, Number 23 (Friday, February 2, 2018)]
[Notices]
[Pages 4956-4957]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-02056]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; 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.''

DATES: Comments must be received by April 3, 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. Comments may be sent to: 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. 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 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.
    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.

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, 
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. Section 
3506(c)(2)(A) of title 44 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 
renewal of the collection of information set forth in this document.
    Title: International Regulation--Part 28.
    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 \1\ 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.
---------------------------------------------------------------------------

    \1\ 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 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

[[Page 4957]]

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.
    Comments submitted in response to this notice will be summarized, 
included in the request for OMB approval, and 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 start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: January 29, 2018.
Karen Solomon,
Acting Senior Deputy Comptroller and Chief Counsel, Office of the 
Comptroller of the Currency.
[FR Doc. 2018-02056 Filed 2-1-18; 8:45 am]
 BILLING CODE 4810-33-P