[Federal Register Volume 83, Number 103 (Tuesday, May 29, 2018)]
[Notices]
[Pages 24591-24592]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-11428]



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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Submission for OMB Review; International Regulation

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 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.'' The OCC 
also is giving notice that it has sent the collection to OMB for 
review.

DATES: Comments must be received by June 28, 2018.

ADDRESSES: Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
     Email: [email protected].
     Mail: 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.
     Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Fax: (571) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0102'' in your comment. In general, the OCC will publish them on 
www.reginfo.gov without change, including any business or personal 
information that you provide, such as name and address information, 
email addresses, or phone numbers. 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.
    Additionally, please send a copy of your comments by mail to: OCC 
Desk Officer, 1557-0102, U.S. Office of Management and Budget, 725 17th 
Street NW, #10235, Washington, DC 20503 or by email to 
[email protected].
    You may review comments and other related materials that pertain to 
this information collection \1\ following the close of the 30-day 
comment period for this notice by any of the following methods:
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    \1\ On February 2, 2018, the OCC published a 60-day notice for 
this information collection.
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     Viewing Comments Electronically: Go to www.reginfo.gov. 
Click on the ``Information Collection Review'' tab. Underneath the 
``Currently under Review'' section heading, from the drop-down menu, 
select ``Department of Treasury'' and then click ``submit''. This 
information collection can be located by searching by OMB control 
number ``1557-0102'' or ``International Regulation''. Upon finding the 
appropriate information collection, click on the related ``ICR 
Reference Number''. On the next screen, select ``View Supporting 
Statement and Other Documents'' and then click on the link to any 
comment listed at the bottom of the screen.
     For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.
     Viewing Comments Personally: You may personally inspect 
comments at the OCC, 400 7th Street SW, Washington, DC. 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 
comments.

FOR FURTHER INFORMATION CONTACT: 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. The OCC asks OMB 
to extend its approval of the following collection.
    Title: International Regulation.
    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 \2\ 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.
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    \2\ Board of Governors of the Federal Reserve System.
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    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

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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 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.
    The OCC issued a notice for 60 days of comment on February 2, 2018, 
83 FR 4956. No comments were received. Comments continue to be 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: May 22, 2018.
Karen Solomon,
Acting Senior Deputy Comptroller and Chief Counsel.
[FR Doc. 2018-11428 Filed 5-25-18; 8:45 am]
 BILLING CODE 4810-33-P