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 is asking OMB for approval of the following information collection.

Title: Licensing Manual.

OMB Control No.: 1557-0014.

Description: The Licensing Manual sets forth the OCC's policies and procedures for the formation of a national bank, Federal savings association, or Federal branch or agency as well as entry into the Federal banking system by other institutions and corporate expansion and structural changes by existing banks. The Licensing Manual includes sample documents to assist the applicant in understanding the types of information the OCC needs in order to process a filing. An applicant may use the format of the sample documents or any other format that provides for the submission of information sufficient for the OCC to act on a particular filing, such as the OCC's electronic filing system, the Central Application Tracking System.

The OCC is seeking approval of Form AC, which is used when a Federal savings association seeks to convert from a mutual to stock form of ownership. The OCC must give prior approval for a Federal savings association to convert from a mutual to stock form. Applicants may seek a waiver of certain requirements as well as the extension of certain timeframes. Given that the process for waiver or extension is minimal, the associated burden is de minimis in nature. Form AC requires submission of the following information:

• Application;
• Plan of conversion;
• Proxy statement and offering circular;
• Form of proxy;
• Additional information required for conversion with a charitable contribution;
• Sequence and timing of the plan;
• Record dates;
• Expenses incident to the conversion; and
• Indemnification.

The OCC is also seeking to renew approval of the following requirements: ^[2]

• FSAs must amend their bylaws and file their amendments with the OCC if they wish to utilize remote means of participation for member or shareholder meetings.
• National banks and FSAs must elect procedures for remote participation at member or shareholder meetings.
• Depending on which State or law the FSA elects to follow for procedures for remote means of communication, the FSA may have to amend its bylaws and file the amendment with the OCC.
• National banks must indicate in their bylaws the procedures they will use for telephonic or electronic participation at shareholder meetings.
• The OCC is considering allowing National banks and FSAs to use alternative/electronic means to notify members/shareholders of meetings.

Type of Review: Revision of a currently approved collection.

Affected Public: Individuals; Businesses or other for-profit.

Frequency of Response: On occasion.

Estimated Number of Respondents for Licensing Manual: 3,717.

Estimated Total Annual Burden for Licensing Manual: 13,038 hours.

On August 13 and 19, 2020, the OCC published 60-day notices for this ( printed page 71138) combined information collection, at 85 FR 49417 and 51155, respectively. No comments were received. Comments continue to be invited on:

(a) Whether the information collection is 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 collection, 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 the information collection on respondents, including through the use of automated collection techniques or other forms of information technology.

85 FR 71137