[Federal Register Volume 63, Number 180 (Thursday, September 17, 1998)]
[Notices]
[Pages 49725-49726]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-24863]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Proposed Collection; Comment Request

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

ACTION: Notice and request for comments.

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SUMMARY: Pursuant to the Paperwork Reduction Act of 1995, the OCC is 
soliciting comment on a new survey it proposes to conduct among 
national banks. Some national banks have publicly announced pledges or 
commitments to undertake lending, investment, or other activities 
pertaining to their obligations under the Community Reinvestment Act 
(CRA). The OCC's survey is designed to learn how these banks monitor 
their progress in achieving the CRA commitments they have announced.

DATES: Written comments should be submitted by November 16, 1998.

ADDRESSES: Direct all written comments to the Communications Division, 
Attention: 1557-CCRA, 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 Dixon, (202) 874-5090, Legislative and Regulatory Activities 
Division (1557-CCRA).

SUPPLEMENTARY INFORMATION:
    Title: Survey of CRA Commitments and Actions.
    OMB Number: None.
    Form Number: Not Applicable.
    Abstract: Over the last few years, some national banks that have 
completed mergers or acquisitions have publicly announced commitments 
to undertake lending, investment, or other Community Reinvestment Act-
related activities. (Publicly announced pledges or undertakings of this 
type are referred to in this notice as ``CRA commitments;'' purely 
private arrangements or commitments are not included). These CRA 
commitments frequently extend for several years or more and may call 
for the bank to establish a variety of different new programs. The OCC 
believes that national banks should regularly monitor their progress 
toward achieving any commitments they have announced in order to ensure 
that their CRA commitments will be satisfied in a timely way. The OCC 
therefore proposes to survey national banks that have made public CRA 
commitments to see what systems and procedures they have in place to 
track their progress in achieving their announced goals.
    The survey will provide the OCC with information about the adequacy 
of banks' monitoring systems. The OCC will use the results of the 
survey as background information in its examination and policymaking 
processes.
    The questions that the OCC proposes to include in this survey are 
as follows.

CRA Commitment Survey

    1. Within the past 5 years, has the bank publicly announced any 
pledge or commitment to undertake CRA lending, investment, provision of 
services, or other activity? (In this survey, we refer to such a pledge 
or commitment as a ``CRA commitment.'')
{time}  Yes        {time}  No
    2. Does the bank have a system in place to track its progress 
toward achieving its CRA commitment?
{time}  Yes        {time}  No
    3. If the bank has written policies or procedures describing its 
tracking system, please provide a copy.
    4. If the bank has a tracking system in place, please describe on a 
separate sheet its principal features. Your description should address 
the following questions.
    (a) How does the bank set goals or targets for meeting its CRA 
commitments (e.g., by dollar amount per quarter or per year)?
    (b) How often does the bank monitor progress toward its goals?
    (c) How does the bank monitor its progress (e.g., along business 
lines, by geographic area, according to specific programs, etc.)?
    (d) How does the bank gather information about its progress? Does 
the bank solicit feedback from external

[[Page 49726]]

sources (e.g., community groups, local businesses) to help it monitor 
its progress?
    (e) How is the bank's tracking system managed and operated, e.g., 
at what level of bank management does accountability for the system 
reside, how many bank employees staff the system, etc.?
    (f) How is progress reported to the bank's board of directors?
    (g) Does the bank make available to its customers or to the general 
public information about its progress toward meeting its CRA 
commitment? If so, how does the bank communicate that information?
    5. If the bank has no tracking system in place, how does the bank 
measure its progress toward achieving its CRA commitment?

(End of proposed CRA Commitment Survey)
    Type of Review: New collection.
    Affected Public: Businesses.
    Number of Respondents: 50 respondents.
    Total Annual Responses: 50 responses.
    Frequency of Response: One time only.
    Total Annual Burden: 100 hours.

Comments

    Comments submitted in response to this notice will be summarized 
and/or 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, and purchase of services to provide information.

    Dated: September 10, 1998.
Karen Solomon,
Director, Legislative and Regulatory Activities Division.
[FR Doc. 98-24863 Filed 9-16-98; 8:45 am]
BILLING CODE 4810-33-P