[Federal Register Volume 63, Number 114 (Monday, June 15, 1998)]
[Notices]
[Pages 32695-32697]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-15801]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Proposed Renewal of Information Collections; Comment Request

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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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 continuing information 
collections, as required by the Paperwork Reduction Act of 1995. 
Currently, the OCC is soliciting comment concerning its extension 
without change of several information collections.

DATES: Written comments should be submitted by August 14, 1998.

ADDRESSES: Direct all written comments to the Communications Division, 
Attention: 1557-LIST, Third Floor, Office of the Comptroller of the 
Currency, 250 E Street, SW, Washington, DC 20219. In addition, comments 
may be sent by facsimile transmission to (202)874-5274, or by 
electronic mail to [email protected].

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the collection may be obtained by contacting Jessie Gates or 
Camille Dickerson, (202)874-5090, Legislative and Regulatory Activities 
Division (1557-LIST), Office of the Comptroller of the Currency, 250 E 
Street, SW, Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval 
of the following four information collections:
    1. Title: International Regulations (12 CFR 28).
    OMB Number: 1557-0102.
    Form Number: None.
    Abstract: This submission covers an existing regulation and 
involves no change to the regulation or to the information collections 
embodied in the regulation. The OCC requests only that OMB renew its 
approval of the information collections in the current regulation.
    The International Banking Act of 1978, 12 U.S.C. 3101 et seq., as 
amended, requires collection of specific information relating to 
licensing applications and supervision of Federal branches and agencies 
of foreign banks in the United States and mandates recordkeeping 
requirements for capital equivalency deposits, voluntary liquidations, 
asset pledges, and asset maintenance requirements.
    The International Lending Supervision Act of 1983 (Pub. L. No. 98-
181, Title IX, 97 Stat. 1153, 12 U.S.C. 3906) mandates the reporting 
and disclosure requirements for international assets as well as the 
recordkeeping requirements for accounting for fees on international 
loans.
    The OCC's regulations in 12 CFR 28 implement requirements imposed 
on national banks and Federal branches and agencies concerning 
international activities.
    The information collections in 12 CFR 28 are as follows:
    Section 28.3 requires a national bank to notify the OCC when it 
takes certain actions regarding its foreign operations;
    Section 28.12 requires a national bank to apply to the OCC before 
it establishes a Federal branch or agency or exercises fiduciary powers 
at a Federal branch;
    Section 28.15 requires a national bank to maintain records and to 
seek OCC approval before permitting withdrawal of certain foreign bank 
capital equivalency deposits;
    Section 28.16 contains recordkeeping requirements and allows a 
foreign bank to apply to the OCC for an exemption to permit an 
uninsured Federal branch to accept or maintain certain deposit 
accounts;
    Section 28.17 requires a Federal branch or agency to notify the OCC 
of certain changes in its activities or operations;
    Section 28.18 requires a Federal branch or agency to maintain 
records, in English, and to provide the OCC with a copy of certain 
reports filed with other Federal regulatory agencies;
    Section 28.22 requires a Federal branch or agency to make notice 
and filings in case of liquidation;
    Section 28.52 requires a banking institution to maintain records 
regarding its allocated transfer risk reserve; and
    Section 28.53 requires a banking institution to maintain records 
regarding its accounting for fees on international loans.
    These information collection requirements ensure bank compliance 
with applicable Federal law, further bank safety and soundness, provide 
protections for banks, and further public policy interests.
    Type of Review: Extension, without change, of a currently approved 
collection.
    Affected Public: Businesses or other for-profit.
    Number of Respondents: 185.
    Total Annual Responses: 185.
    Frequency of Response: On occasion.
    Total Annual Burden: 6,708 Hours.
    2. Title: (MA)--Securities Offering Disclosure Rules (12 CFR 16).
    OMB Number: 1557-0120.
    Form Number: None.
    Abstract: This submission covers an existing regulation and 
involves no change to the regulation or to the information collections 
embodied in the regulation. The OCC requests only that OMB renew its 
approval of the information collections in the current regulation.
    Under 12 U.S.C. 93a, the OCC is empowered to issue rules and 
regulations to carry out its responsibilities. The requirements in part 
16 enable the OCC to perform its responsibilities relating to offerings 
of securities by national banks by providing the investing public with 
facts about the condition of the bank, the reasons for raising new 
capital, and the terms of the offering. Part 16 requires national banks 
to conform generally to Securities and Exchange Commission rules.
    The collections of information contained in 12 CFR Part 16 are as 
follows:
    Section 16.3 requires a national bank to file its registration 
statement with the OCC;
    Section 16.4 states that the OCC may require a national bank to 
submit to the OCC certain communications not deemed an offer;
    Section 16.6 requires a national bank to file documents with OCC 
and to make certain disclosures to purchasers in sales of 
nonconvertible debt;
    Section 16.17 requires a national bank to file four copies of each 
document filed under Part 16, and requires filers of amendments or 
revisions to underline or otherwise indicate clearly any changed 
information;
    Section 16.19 requires a national bank to submit a request to OCC 
if it wishes to withdraw a registration statement, amendment, or 
exhibit;
    Section 16.20 requires a national bank to file current and periodic 
reports as required by sections 12 and 13 of the Exchange Act (15 
U.S.C. 78l and m) and

[[Page 32696]]

SEC Regulation 15D (17 CFR 240.15d-1 through 240.15Aa-1); and
    Section 16.30 requires a national bank to include certain elements 
and follow certain procedures in any request to OCC for a no-objection 
letter.
    These information collection requirements ensure bank compliance 
with applicable Federal law, further bank safety and soundness, provide 
protections for banks and the public, and further public policy 
interests.
    Type of Review: Extension, without change, of a currently approved 
collection.
    Affected Public: Businesses or other for-profit.
    Number of Respondents: 80.
    Total Annual Responses: 140.
    Frequency of Response: On occasion.
    Total Annual Burden: 2,660 Hours.
    3. Title: Fair Housing Home Loan Data System Regulation (12 CFR 
27).
    OMB Number: 1557-0159.
    Form Number: None.
    Abstract: This submission covers an existing regulation and 
involves no change to the regulation or to the information collections 
embodied in the regulation. The OCC requests only that OMB renew its 
approval of the information collections in the current regulation. This 
regulation requires national banks to maintain records and to make 
occasional filings to the OCC, upon the OCC's request, regarding home 
loans and certain other real estate loans.
    The Fair Housing Act (42 U.S.C. 3605) prohibits discrimination in 
the financing of housing on the basis of race, color, religion, sex, or 
national origin. The Equal Credit Opportunity Act (15 U.S.C. 1691 et 
seq.) prohibits discrimination in any aspect of a credit transaction on 
the basis of race, color, religion, national origin, sex, marital 
status, age, receipt of income from public assistance, or exercise of 
any right under the Consumer Credit Protection Act. The OCC is 
responsible for ensuring that national banks comply with those laws. 
This information collection is needed to promote national bank 
compliance and for OCC to fulfill its statutory responsibilities.
    The collections of information contained in 12 CFR Part 27 are as 
follows:
    Section 27.3 requires a national bank that is required to collect 
data on home loans under 12 CFR 203 to present the data on Federal 
Reserve Form FR HMDA-LAR, or in an automated format in accordance with 
the HMDA-LAR instructions, and to include one additional item (the 
reason for denial) on the HMDA-LAR. Section 27.3 also lists exceptions 
to HMDA-LAR recordkeeping requirements. Section 27.3 further lists the 
information that banks should obtain from an applicant as part of a 
home loan application, and states information that a bank must disclose 
to an applicant;
    Section 27.5 requires a national bank to maintain the information 
for 25 months after the bank notifies the applicant of action taken on 
an application, or after withdrawal of an application; and
    Section 27.7 requires that a bank submit the information to the OCC 
upon its request, prior to a scheduled examination.
    These information collection requirements ensure bank compliance 
with applicable Federal law, further bank safety and soundness, provide 
protections for banks and the public, and further public policy 
interests.
    Type of Review: Extension, without change, of a currently approved 
collection.
    Affected Public: Businesses or other for-profit.
    Number of Respondents: 3,763.
    Total Annual Responses: 3,763.
    Frequency of Response: On occasion.
    Total Annual Burden: 6,300 Hours.
    4. Title: (MA)--Loans in Areas Having Special Flood Hazards (12 CFR 
22).
    OMB Number: 1557-0202.
    Form Number: None.
    Abstract: This submission covers an existing regulation and 
involves no change to the regulation or to the information collections 
embodied in the regulation. The OCC requests only that OMB renew its 
approval of the information collections in the current regulation. This 
regulation requires national banks to make disclosures and keep records 
regarding whether a property securing a loan is located in a special 
flood hazard area.
    This collection of information is required by section 303(a) and 
Title V of the Riegle Community Development and Regulatory Improvement 
Act of 1994, Pub. L. 103-325, 108 Stat. 2160, 2255-87, the National 
Flood Insurance Reform Act of 1994 amendments to the National Flood 
Insurance Act of 1968, Pub. L. 90-448, 82 Stat. 476, and the Flood 
Disaster Protection Act of 1973, Pub. L. 93-234, 87 Stat. 975. (These 
statutes are codified at 44 U.S.C. 4001 et seq.).
    The collections of information contained in 12 CFR Part 22 are as 
follows:
    Section 22.6 requires a national bank to use the standard flood 
hazard determination form developed by the Federal Emergency Management 
Agency (FEMA). The bank must maintain a copy of the form, in either 
hard copy or electronic form, for the period of time the bank owns the 
loan; and
    Section 22.7 requires a bank or its servicer, in case of where the 
borrower has not obtained required flood insurance or has purchased 
inadequate coverage, to notify the borrower that the borrower should 
obtain adequate flood insurance coverage.
    Section 22.9 requires a bank making a loan secured by property 
located in a special flood hazard area to notify the borrower and loan 
servicer (whether or not flood insurance is available) that the 
collateral is located in a special flood hazard area, whether flood 
insurance coverage under the National Flood Insurance Program is 
available, and whether Federal disaster relief may be available in the 
event of flooding. The bank must maintain a record of the receipt of 
the notice to the borrower and loan servicer for the period of time the 
bank owns the loan.
    Section 22.10 requires a bank making a loan secured by property 
located in a special flood hazard area to notify FEMA or a designee of 
the identity of the servicer, and of any change in servicers.
    These information collection requirements ensure bank compliance 
with applicable Federal law, further bank safety and soundness, provide 
protections for banks and the public, and further public policy 
interests.
    Type of Review: Extension, without change, of a currently approved 
collection.
    Affected Public: Businesses or other for-profit.
    Number of Respondents: 3,000.
    Total Annual Responses: 303,000.
    Frequency of Response: On occasion.
    Total Annual Burden: 78,000 Hours.

Comments

    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 collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information has practical utility;
    (b) The accuracy of the agency'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 startup costs and costs of operation, 
maintenance,

[[Page 32697]]

and purchase of services to provide information.

    Dated: June 8, 1998.
Karen Solomon,
Director, Legislative & Regulatory Activities Division.
[FR Doc. 98-15801 Filed 6-12-98; 8:45 am]
BILLING CODE 4810-33-P