[Federal Register Volume 74, Number 112 (Friday, June 12, 2009)]
[Notices]
[Pages 28103-28104]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-13873]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCY: Office of the Comptroller of the Currency, 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 a continuing 
information collection, as required by the Paperwork Reduction Act of 
1995. An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless it displays a 
currently valid OMB control number. The OCC is soliciting comment 
concerning its information collection titled, ``International 
Regulation--Part 28.'' The OCC also gives notice that it has sent the 
information collection to the Office of Management and Budget (OMB) for 
review.

DATES: Comments must be received by July 13, 2009.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Public Information Room, Mailstop 2-3, Attention: 1557-0102, 
250 E Street, SW., Washington, DC 20219. In addition, comments may be 
sent by fax to (202) 874-5274, or by electronic mail to 
[email protected]. You may personally inspect and photocopy 
comments at the OCC, 250 E 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) 874-4700. 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.
    Additionally, you should send a copy of your comments to OCC Desk 
Officer, 1557-0102, by mail to U.S. Office of Management and Budget, 
725 17th Street, NW., 10235, Washington, DC 20503, or by fax 
to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Mary H. Gottlieb, OCC Clearance 
Officer, (202) 874-5090, Legislative and Regulatory Activities 
Division, 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 information collection:
    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 Part 28 contains the following collections of information:

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 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.
     Opens a foreign branch, and no application or notice is 
required by the FRB for such transaction.
    In practice, the OCC has also required an application pursuant to 
Sec.  28.3(c) from a national bank 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 28.12(a) Covered Under OMB Control No. 1557-0014 (Comptroller's 
Licensing Manual) Approval of a Federal Branch or Agency--Approval and 
Licensing Requirements

    A foreign bank shall submit an application to, and obtain prior 
approval from the OCC before it establishes a Federal branch or agency, 
or exercises fiduciary powers at a Federal branch.

12 CFR 28.12(e)(2) Covered Under OMB Control No. 1557-0014 
(Comptroller's Licensing Manual) Approval of a Federal Branch or 
Agency--Written Notice for Additional Intrastate Branches or Agencies

    A foreign bank shall provide written notice to the OCC 30 days in 
advance of the establishment of an intrastate branch or agency.

12 CFR 28.12(h) Covered Under OMB Control No. 1557-0014 (Comptroller's 
Licensing Manual) Approval of a Federal Branch or Agency--After-the-
Fact Notice for Eligible Foreign Banks

    A foreign bank proposing to establish a Federal branch or agency 
through the acquisition of, or merger or consolidation with, a foreign 
bank that has an existing bank subsidiary, branch, or agency, may 
proceed with the transaction and provide after-the-fact notice within 
14 days of the transaction to the OCC if (1) the resulting bank is an 
``eligible foreign bank'' within the meaning of Sec.  28.12(f) and (2) 
no Federal branch established by the transaction accepts deposits 
insured by the FDIC.

12 CFR 28.12(i) Covered Under OMB Control No. 1557-0014 (Comptroller's 
Licensing Manual) Approval of a Federal Branch or Agency--Contraction 
of Operations

    A foreign bank shall provide written notice to the OCC within 10 
days after converting a Federal branch into a limited Federal branch or 
Federal agency.

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

    Deposit arrangements:
     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

[[Page 28104]]

be maintained pursuant to an agreement prescribed by the OCC that shall 
be a 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 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 paragraph (b) of this section. The request should 
describe:
     The types, sources, and estimated amount of such deposits 
and explain why the OCC should grant an exemption;
     How the exemption maintains and furthers the policies 
described in paragraph (a) of this section.

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 28.17 Covered Under OMB Control No. 1557-0014 (Comptroller's 
Licensing Manual) Notice of Change in Activity or Operations

    A Federal branch or agency shall notify the OCC if it changes its 
corporate title; changes its mailing address; converts to a State 
branch, State agency, or representative office; or the parent foreign 
bank changes the designation of its home State.

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(b) Covered Under OMB Control No. 1557-0014 (Comptroller's 
Licensing Manual) Voluntary Liquidation Notice to Customers and 
Creditors

    A foreign bank shall publish notice of the impending closure of 
each Federal branch or agency for a period of two months in every issue 
of a local newspaper where the Federal branch or agency is located. If 
only weekly publication is available, the notice must be published for 
nine consecutive weeks.

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.

12 CFR 28.25(a) Covered Under OMB Control No. 1557-0014 (Comptroller's 
Licensing Manual) Change in Control--After-the-Fact Notice

    In cases where no other filing is required, a foreign bank that 
operates a Federal branch or agency shall inform the OCC in writing of 
the direct or indirect acquisition of control of the foreign bank by 
any person or entity, or group of persons or entities acting in 
concert, within 14 calendar days after the foreign bank becomes aware 
of a change in control.

12 CFR 28.52 Covered Under OMB Control No. 1557-0081 (MA)--Reports of 
Condition and Income (Interagency Call Report), FFIEC 031, FFIEC 041 
Allocated Transfer Risk Reserve

    A banking institution shall establish an allocated transfer risk 
reserve for specified international assets when required by the OCC in 
accordance with the requirements of the section.

12 CFR 28.54 Covered Under OMB Control No. 1557-0100 Country Exposure 
Report and Country Exposure Information Report (FFIEC 009, FFIEC 009a) 
Reporting and Disclosure of International Assets

    A banking institution shall submit to the OCC, at least quarterly, 
information regarding the amounts and composition of its holdings of 
international assets. A banking institution shall submit to the OCC 
information regarding concentrations in its holdings of international 
assets that are material in relation to total assets and to capital of 
the institution.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals; businesses or other for-profit.
    Estimated Number of Respondents: 79.
    Estimated Total Annual Responses: 117.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 3,661.5.
    The OCC issued a 60-day notice for comment on April 3, 2009. 71 FR 
15322. No comments were received. The OCC invites continued comments 
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: June 8, 2009.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. E9-13873 Filed 6-11-09; 8:45 am]
BILLING CODE 4810-33-P