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)
Office of the Comptroller of the Currency
Federal Register Volume 83, Issue 23 (February 2, 2018)
| Page Range | 4956-4957 | |
| FR Document | 2018-02056 |
[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
![4956 Federal Register / Vol. 83, No. 23 / Friday, February 2, 2018 / Notices
The OCC issued a notice for 60 days ADDRESSES: Because paper mail in the OMB Control No.: 1557–0102.
comment regarding this collection on Washington, DC area and at the OCC is Description: This submission covers
November 21, 2017, 82 FR 55486. No subject to delay, commenters are an existing regulation and involves no
comments were received. Comments encouraged to submit comments by change to the regulation or to the
continue to be invited on: email, if possible. Comments may be information collection requirements.
(a) Whether the collection of sent to: Legislative and Regulatory The OCC requests only that OMB extend
information is necessary for the proper Activities Division, Office of the its approval of the information
performance of the functions of the Comptroller of the Currency, Attention: collection.
OCC, including whether the information 1557–0102, 400 7th Street SW, suite 3E– 12 CFR 28.3 Filing Requirements for
has practical utility; 218, Washington, DC 20219. In addition, Foreign Operations of a National
(b) The accuracy of the OCC’s comments may be sent by fax to (571) Bank—Notice Requirement
estimate of the burden of the collection 465–4326 or by electronic mail to
of information; prainfo@occ.treas.gov. You may A national bank shall notify the OCC
(c) Ways to enhance the quality, personally inspect and photocopy when it files an application, notice, or
utility, and clarity of the information to comments at the OCC, 400 7th Street report with the FRB 1 to establish or
be collected; SW, Washington, DC 20219. For open a foreign branch, or acquire or
(d) Ways to minimize the burden of security reasons, the OCC requires that divest of an interest in, or close, an Edge
the collection on respondents, including visitors make an appointment to inspect corporation, Agreement corporation,
through the use of automated collection comments. You may do so by calling foreign bank, or other foreign
techniques or other forms of information (202) 649–6700 or, for persons who are organization; or opens a foreign branch,
technology; and deaf or hearing impaired, TTY, (202) and no application or notice is required
(e) Estimates of capital or start-up 649–5597. Upon arrival, visitors will be by the FRB for such transaction.
costs and costs of operation, required to present valid government- In practice, the OCC also has required
maintenance, and purchase of services issued photo identification and submit an application pursuant to § 28.3(c)
to provide information. to security screening in order to inspect from a national bank seeking to join a
Dated: January 29, 2018. and photocopy comments. foreign exchange, clearinghouse, or
Karen Solomon, All comments received, including similar type of organization. In lieu of
attachments and other supporting a notice, the OCC may accept a copy of
Acting Senior Deputy Comptroller and Chief
Counsel, Office of the Comptroller of the materials, are part of the public record an application, notice, or report
Currency. and subject to public disclosure. Do not submitted to another federal agency that
[FR Doc. 2018–02057 Filed 2–1–18; 8:45 am] include any information in your covers the proposed action and contains
comment or supporting materials that substantially the same information
BILLING CODE 4810–33–P
you consider confidential or required by the OCC. A national bank
inappropriate for public disclosure. shall furnish the OCC with any
DEPARTMENT OF THE TREASURY FOR FURTHER INFORMATION CONTACT: additional information the OCC may
Shaquita Merritt, OCC Clearance require in connection with the national
Office of the Comptroller of the Officer, (202) 649–5490 or, for persons bank’s foreign operations.
Currency who are deaf or hearing impaired, TTY, 12 CFR 28.14(c) Limitations Based upon
(202) 649–5597, Legislative and Capital of a Foreign Bank—Aggregation
Agency Information Collection Regulatory Activities Division, Office of
Activities: Information Collection A foreign bank shall aggregate
the Comptroller of the Currency, 400 7th
Renewal; Comment Request; business transacted by all federal
Street SW, suite 3E–218, Washington,
International Regulation branches and agencies with the business
DC 20219.
transacted by all state branches and
AGENCY: Office of the Comptroller of the SUPPLEMENTARY INFORMATION: Under the agencies controlled by the foreign bank
Currency (OCC), Treasury. PRA (44 U.S.C. 3501–3520), Federal in determining its compliance with
ACTION: Notice and request for comment. agencies must obtain approval from the limitations based upon the capital of the
OMB for each collection of information foreign bank. A foreign bank shall
SUMMARY: The OCC, as part of its that they conduct or sponsor. designate one federal branch or agency
continuing effort to reduce paperwork ‘‘Collection of information’’ is defined office in the United States to maintain
and respondent burden, invites the in 44 U.S.C. 3502(3) and 5 CFR consolidated information so that the
general public and other federal 1320.3(c) to include agency requests or OCC can monitor compliance.
agencies to take this opportunity to requirements that members of the public
comment on a continuing information submit reports, keep records, or provide 12 CFR 28.15(d), (d)(1), (d)(2), and (f)
collection as required by the Paperwork information to a third party. Section Capital Equivalency Deposits
Reduction Act of 1995 (PRA). 3506(c)(2)(A) of title 44 requires federal A foreign bank should require its
In accordance with the requirements agencies to provide a 60-day notice in depository bank to segregate its capital
of the PRA, the OCC may not conduct the Federal Register concerning each equivalency deposits on the depository
or sponsor, and the respondent is not proposed collection of information, bank’s books and records. The
required to respond to, an information including each renewal of an existing instruments making up the capital
collection unless it displays a currently collection of information, before equivalency deposit that are placed in
valid Office of Management and Budget
sradovich on DSK3GMQ082PROD with NOTICES
submitting the collection to OMB for safekeeping at a depository bank to
(OMB) control number. approval. To comply with this satisfy a foreign bank’s capital
The OCC is soliciting comment requirement, the OCC is publishing equivalency deposit requirement must
concerning the renewal of its notice of the renewal of the collection be maintained pursuant to an agreement
information collection titled of information set forth in this prescribed by the OCC that shall be a
‘‘International Regulation.’’ document.
DATES: Comments must be received by Title: International Regulation—Part 1 Board of Governors of the Federal Reserve
April 3, 2018. 28. System.
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![Federal Register / Vol. 83, No. 23 / Friday, February 2, 2018 / Notices 4957
written agreement entered into with the 12 CFR 28.22(e) Reports of Examination and respondent burden, invites the
OCC. Each federal branch or agency The federal branch or agency shall general public and other federal
shall maintain a capital equivalency send the OCC certification that all of its agencies to take this opportunity to
account and keep records of the amount Reports of Examination have been comment on a continuing information
of liabilities requiring capital destroyed or return its Reports of collection, as required by the Paperwork
equivalency coverage in a manner and Examination to the OCC. Reduction Act of 1995 (PRA).
form prescribed by the OCC. A foreign Type of Review: Regular. In accordance with the requirements
bank’s capital equivalency deposits may Affected Public: Businesses or other of the PRA, the OCC may not conduct
not be reduced in value below the for-profit. or sponsor, and the respondent is not
minimum required for that branch or Estimated Number of Respondents: required to respond to, an information
agency without the prior approval of the 52. collection unless it displays a currently
OCC, but in no event may the value fall Estimated Total Annual Burden: valid Office of Management and Budget
below the statutory minimum. 2,286. (OMB) control number.
Frequency of Response: On occasion. Currently, the OCC is finalizing a
12 CFR 28.16(c) Deposit-Taking by an Comments submitted in response to revision to a regulatory reporting
Uninsured Federal Branch— this notice will be summarized, requirement for national banks and
Application for an Exemption included in the request for OMB federal savings associations titled,
A foreign bank may apply to the OCC approval, and become a matter of public ‘‘Company-Run Annual Stress Test
for an exemption to permit an record. Comments are invited on: (a) Reporting Template and Documentation
uninsured federal branch to accept or Whether the collection of information is for Covered Institutions with Total
maintain deposit accounts that are not necessary for the proper performance of Consolidated Assets of $50 Billion or
listed in § 28.16(b). The request should the functions of the OCC, including More under the Dodd-Frank Wall Street
describe the types, sources, and whether the information has practical Reform and Consumer Protection Act.’’
estimated amount of such deposits and utility; The OCC also is giving notice that it has
explain why the OCC should grant an (b) The accuracy of the OCC’s sent the collection to OMB for review.
exemption, and how the exemption estimate of the burden of the collection
DATES: Comments must be received by
maintains and furthers the policies of information;
(c) Ways to enhance the quality, March 5, 2018.
described in § 28.16(a).
utility, and clarity of the information to ADDRESSES: Because paper mail in the
12 CFR 28.16(d) Deposit-Taking by an be collected; Washington, DC area and at the OCC is
Uninsured Federal Branch— (d) Ways to minimize the burden of subject to delay, commenters are
Aggregation of Deposits the collection on respondents, including encouraged to submit comments by
A foreign bank that has more than one through the use of automated collection email, if possible. Comments may be
federal branch in the same state may techniques or other forms of information sent to: Legislative and Regulatory
aggregate deposits in all of its federal technology; and Activities Division, Office of the
branches in that state, but exclude (e) Estimates of capital or start-up Comptroller of the Currency, Attention:
deposits of other branches, agencies, or costs and costs of operation, 1557–0319, 400 7th Street SW, Suite
wholly owned subsidiaries of the bank. maintenance, and purchase of services 3E–218, Washington, DC 20219. In
The federal branch shall compute the to provide information. addition, comments may be sent by fax
average amount by using the sum of Dated: January 29, 2018. to (571) 465–4326 or by electronic mail
deposits as of the close of business of Karen Solomon, to prainfo@occ.treas.gov. You may
the last 30 calendar days ending with, Acting Senior Deputy Comptroller and Chief
personally inspect and photocopy
and including, the last day of the Counsel, Office of the Comptroller of the comments at the OCC, 400 7th Street,
calendar quarter, divided by 30. The Currency. SW, Washington, DC 20219. For
federal branch shall maintain records of [FR Doc. 2018–02056 Filed 2–1–18; 8:45 am] security reasons, the OCC requires that
the calculation until its next BILLING CODE 4810–33–P
visitors make an appointment to inspect
examination by the OCC. comments. You may do so by calling
(202) 649–6700 or, for persons who are
12 CFR 28.18(c)(1) Recordkeeping and DEPARTMENT OF THE TREASURY deaf or hearing impaired, TTY, (202)
Reporting—Maintenance of Accounts, 649–5597. Upon arrival, visitors will be
Books, and Records Office of the Comptroller of the required to present valid government-
Each federal branch or agency shall Currency issued photo identification and submit
maintain a set of accounts and records to security screening in order to inspect
reflecting its transactions that are Agency Information Collection and photocopy comments.
separate from those of the foreign bank Activities: Revision of an Approved All comments received, including
and any other branch or agency. The Information Collection; Submission for attachments and other supporting
federal branch or agency shall keep a set OMB Review; Company-Run Annual materials, are part of the public record
of accounts and records in English Stress Test Reporting Template and and subject to public disclosure. Do not
sufficient to permit the OCC to examine Documentation for Covered include any information in your
the condition of the federal branch or Institutions With Total Consolidated comment or supporting materials that
Assets of $50 Billion or More Under the you consider confidential or
agency and its compliance with
Dodd-Frank Wall Street Reform and inappropriate for public disclosure.
sradovich on DSK3GMQ082PROD with NOTICES
applicable laws and regulations.
Consumer Protection Act Additionally, please send a copy of
12 CFR 28.20(a)(1) Maintenance of your comments by mail to: OCC Desk
Assets—General Rule AGENCY: Office of the Comptroller of the
Currency, Treasury (OCC). Officer, 1557–0319, U.S. Office of
The OCC may require a foreign bank ACTION: Notice and request for comment.
Management and Budget, 725 17th
to hold certain assets in the state in Street NW, #10235, Washington, DC
which its federal branch or agency is SUMMARY: The OCC, as part of its 20503, or by email to: oira_submission@
located. continuing effort to reduce paperwork omb.eop.gov.
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Document Created: 2018-02-03 14:27:28
Document Modified: 2018-02-03 14:27:28
| 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 April 3, 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, suite 3E-218, Washington, DC 20219. | |
| FR Citation | 83 FR 4956 |
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