[Federal Register Volume 87, Number 161 (Monday, August 22, 2022)]
[Notices]
[Pages 51487-51488]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-18004]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Extensions of Credit to Insiders and 
Transactions With Affiliates

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). 
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 its information collection titled, ``Extensions of 
Credit to Insiders and Transactions with Affiliates.''

DATES: You should submit comments by October 21, 2022.

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: Chief Counsel's Office, Attention: Comment 
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0336, 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 
``1557-0336'' 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.
    Following the close of this notice's 60-day comment period, the OCC 
will publish a second notice with a 30-day comment period. You may 
review comments and other related materials that pertain to this 
information collection beginning on the date of publication of the 
second notice for this collection by the method set forth in the next 
bullet.
     Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' drop down menu. Click 
on ``Information Collection Review.'' 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 ``1557-0336'' or ``Extensions of Credit 
to Insiders and Transactions with Affiliates.'' 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, OCC 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 et seq.), 
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 and/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 this collection of information.
    Title: Extensions of Credit to Insiders and Transactions with 
Affiliates.
    OMB Number: 1557-0336.
    Description: National banks and Federal savings associations must 
comply with rules of the Board of

[[Page 51488]]

Governors of the Federal Reserve System (Board) regarding extensions of 
credit to insiders (Regulation O) \1\ and transactions with affiliates 
(Regulation W),\2\ which implement section 22 and sections 23A and 23B, 
respectively, of the Federal Reserve Act (FRA).\3\ 12 CFR part 31 
addresses these transactions for national banks and Federal savings 
associations. Specifically, 12 CFR 31.2 requires national banks and 
Federal savings associations to comply with Regulation O, and 12 CFR 
31.3 requires national banks and Federal savings associations to comply 
with Regulation W. Appendix A to part 31 provides interpretive guidance 
on the application of Regulation W to deposits between affiliated 
banks.
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    \1\ 12 CFR part 215.
    \2\ 12 CFR part 223.
    \3\ 12 U.S.C. 371c, 371c-1, 375a, and 375b. In addition, section 
11 of the Home Owners' Loan Act, 12 U.S.C. 1468, includes certain 
restrictions on transactions with affiliates that are not included 
in FRA section 23A.
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    12 CFR 31.3(c) implements the statutory standards for authorizing 
an exemption from section 23A of the FRA or section 11 of the Home 
Owners' Loan Act (HOLA) \4\ in accordance with section 608 of the Dodd 
Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). 
Section 608, which became effective on July 21, 2012, amended section 
23A of the FRA and section 11 of the HOLA to authorize the OCC to 
exempt, by order, a transaction of a national bank or Federal savings 
association, respectively, from the affiliate transaction requirements 
of section 23A and section 11 of the HOLA if: (1) the OCC and the Board 
jointly find the exemption to be in the public interest and consistent 
with the purposes of section 23A or section 11 and (2) within 60 days 
of receiving notice of such finding, the Federal Deposit Insurance 
Corporation does not object in writing to the finding. Such objection 
would be based on a determination that the exemption presents an 
unacceptable risk to the Deposit Insurance Fund.\5\
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    \4\ 12 U.S.C. 1468.
    \5\ See section 608(a)(4)(A)(iv) of the Dodd-Frank Act 
(exemptive authority for national banks) and section 608(c) of the 
Dodd-Frank Act (exemptive authority for Federal savings 
associations).
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    12 CFR 31.3(d) sets forth procedures that a national bank and 
Federal savings association must follow to request such exemptions. 
These procedures are modeled after the Board's procedures in Regulation 
W. A national bank or Federal savings association may request an 
exemption from the requirements of section 23A or section 11 of the 
HOLA, as applicable, and 12 CFR part 223 by submitting a written 
request to the Deputy Comptroller for Licensing with a copy to the 
appropriate Federal Reserve Bank. The request must:
    (1) Describe in detail the transaction or relationship for which 
the national bank or Federal savings association seeks an exemption;
    (2) Explain why the OCC should exempt the transaction or 
relationship;
    (3) Explain how the exemption would be in the public interest and 
consistent with the purposes of section 23A or section 11 of the HOLA, 
as applicable; and
    (4) Explain why the exemption does not present an unacceptable risk 
to the Deposit Insurance Fund.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 1.
    Estimated Frequency of Response: On occasion.
    Estimated Total Annual Burden: 10 hours.
    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 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.

Patrick T. Tierney,
Assistant Director, Bank Advisory, Office of the Comptroller of the 
Currency.
[FR Doc. 2022-18004 Filed 8-19-22; 8:45 am]
BILLING CODE 4810-33-P