[Federal Register Volume 87, Number 122 (Monday, June 27, 2022)]
[Notices]
[Pages 38257-38258]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-13633]


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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; Community and Economic Development 
Entities, Community Development Projects, and Other Public Welfare 
Investments

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 comment on a continuing information 
collection as required by the Paperwork Reduction Act of 1995 (PRA). An 
agency may not conduct or sponsor, and respondents are 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 its information collection titled, 
``Community and Economic Development Entities, Community Development 
Projects, and Other Public Welfare Investments.'' The OCC also is 
giving notice that it has sent the collection to OMB for review.

DATES: Comments must be submitted on or before July 27, 2022.

ADDRESSES: Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:

[[Page 38258]]

     Email: [email protected].
     Mail: Chief Counsel's Office, Attention: Comment 
Processing, 1557-0194, Office of the Comptroller of the Currency, 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 
``1557-0194'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, 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.
    Written comments and recommendations for the proposed information 
collection should also be sent within 30 days of publication of this 
notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
    On April 21, 2022, the OCC published a 60-day notice for this 
information collection, 87 FR 23914. You may review comments and other 
related materials that pertain to this information collection following 
the close of the 30-day comment period for this notice by the method 
set forth in the next bullet.
     Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' tab and click on 
``Information Collection Review'' from the drop-down menu. From the 
``Currently under Review'' drop-down menu, select ``Department of 
Treasury'' and then click ``submit.'' This information collection can 
be located by searching by OMB control number ``1557-0194'' or 
``Community and Economic Development Entities, Community Development 
Projects, and Other Public Welfare Investments.'' 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.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, 
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of 
the Currency, 400 7th Street SW, Suite 3E-218, Washington, DC 20219. If 
you are deaf, hard of hearing, or have a speech disability, please dial 
7-1-1 to access telecommunications relay services.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal 
agencies must obtain approval from 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. Section 
3506(c)(2)(A) of title 44 requires Federal agencies to provide a 60-day 
notice in the Federal Register concerning each proposed collection of 
information, including each proposed extension of an existing 
collection of information, before submitting the collection to OMB for 
approval. To comply with this requirement, the OCC is publishing notice 
of the renewal of the collection of information set forth in this 
document.
    Title: Community and Economic Development Entities, Community 
Development Projects, and Other Public Welfare Investments.
    OMB Control No.: 1557-0194. Description: This submission covers an 
existing regulation (12 CFR part 24), including the CD-1, National Bank 
Community Development Investments form, contained in 12 CFR part 24 
Appendix 1, pursuant to which a national bank may notify the OCC, or 
request OCC approval, of certain community development investments.
    Section 24.4(a) provides that a national bank may submit a written 
request to the OCC to exceed five percent of its capital and surplus 
for its aggregate, outstanding public welfare investments, up to 15 
percent of its capital and surplus. The OCC may grant permission to the 
bank to make subsequent public welfare investments up to the approved 
investment limit without prior notification to, or approval by the OCC, 
using the after-the-fact notification process consistent with Sec.  
24.5(a).
    Section 24.5(a) provides that an eligible national bank may make a 
public welfare investment without prior notification to, or approval 
by, the OCC if the bank submits an after-the-fact notification of an 
investment within 10 days of making the investment.
    Section 24.5(a)(5) provides that a national bank that is not an 
eligible bank consistent with Sec.  24.2(e), but that is at least 
adequately capitalized and has a composite rating of at least 3 with 
improving trends under the Uniform Financial Institutions Rating 
System, may submit a letter to the OCC requesting authority to submit 
after-the-fact notices of its public welfare investments.
    Section 24.5(b)(1) provides that if a national bank does not meet 
the requirements for after-the-fact notification, including if the 
bank's aggregate outstanding investments exceed the five percent limit, 
unless previously approved by the OCC for subsequent public welfare 
investments, the bank must submit an investment proposal to the OCC 
seeking permission to make the public welfare investment.
    Type of Review: Regular.
    Affected Public: Individuals; Businesses or other for-profit.
    Estimated Number of Respondents: 1,200.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 1,910 hours.
    On April 21, 2022, the OCC published a 60-day notice for this 
information collection, 87 FR 23914. 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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2022-13633 Filed 6-24-22; 8:45 am]
BILLING CODE 4810-33-P