Proposed Renewal of Information Collections; Comment Request

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

Proposed Renewal of Information Collections; Comment Request

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 continuing information

collections, as required by the Paperwork Reduction Act of 1995.

Currently, the OCC is soliciting comment concerning its extension

without change of several information collections.

DATES: Written comments should be submitted by August 14, 1998.

ADDRESSES: Direct all written comments to the Communications Division,

Attention: 1557-LIST, 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 Dickerson, (202)874-5090, Legislative and Regulatory Activities

Division (1557-LIST), 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 four information collections:

1. Title: International Regulations (12 CFR 28).

OMB Number: 1557-0102.

Form Number: None.

Abstract: This submission covers an existing regulation and

involves no change to the regulation or to the information collections

embodied in the regulation. The OCC requests only that OMB renew its

approval of the information collections in the current regulation.

The International Banking Act of 1978, 12 U.S.C. 3101 et seq., as

amended, requires collection of specific information relating to

licensing applications and supervision of Federal branches and agencies

of foreign banks in the United States and mandates recordkeeping

requirements for capital equivalency deposits, voluntary liquidations,

asset pledges, and asset maintenance requirements.

The International Lending Supervision Act of 1983 (Pub. L. No. 98-

181, Title IX, 97 Stat. 1153, 12 U.S.C. 3906) mandates the reporting

and disclosure requirements for international assets as well as the

recordkeeping requirements for accounting for fees on international

loans.

The OCC's regulations in 12 CFR 28 implement requirements imposed

on national banks and Federal branches and agencies concerning

international activities.

The information collections in 12 CFR 28 are as follows:

Section 28.3 requires a national bank to notify the OCC when it

takes certain actions regarding its foreign operations;

Section 28.12 requires a national bank to apply to the OCC before

it establishes a Federal branch or agency or exercises fiduciary powers

at a Federal branch;

Section 28.15 requires a national bank to maintain records and to

seek OCC approval before permitting withdrawal of certain foreign bank

capital equivalency deposits;

Section 28.16 contains recordkeeping requirements and allows a

foreign bank to apply to the OCC for an exemption to permit an

uninsured Federal branch to accept or maintain certain deposit

accounts;

Section 28.17 requires a Federal branch or agency to notify the OCC

of certain changes in its activities or operations;

Section 28.18 requires a Federal branch or agency to maintain

records, in English, and to provide the OCC with a copy of certain

reports filed with other Federal regulatory agencies;

Section 28.22 requires a Federal branch or agency to make notice

and filings in case of liquidation;

Section 28.52 requires a banking institution to maintain records

regarding its allocated transfer risk reserve; and

Section 28.53 requires a banking institution to maintain records

regarding its accounting for fees on international loans.

These information collection requirements ensure bank compliance

with applicable Federal law, further bank safety and soundness, provide

protections for banks, and further public policy interests.

Type of Review: Extension, without change, of a currently approved

collection.

Affected Public: Businesses or other for-profit.

Number of Respondents: 185.

Total Annual Responses: 185.

Frequency of Response: On occasion.

Total Annual Burden: 6,708 Hours.

2. Title: (MA)--Securities Offering Disclosure Rules (12 CFR 16).

OMB Number: 1557-0120.

Form Number: None.

Abstract: This submission covers an existing regulation and

involves no change to the regulation or to the information collections

embodied in the regulation. The OCC requests only that OMB renew its

approval of the information collections in the current regulation.

Under 12 U.S.C. 93a, the OCC is empowered to issue rules and

regulations to carry out its responsibilities. The requirements in part

16 enable the OCC to perform its responsibilities relating to offerings

of securities by national banks by providing the investing public with

facts about the condition of the bank, the reasons for raising new

capital, and the terms of the offering. Part 16 requires national banks

to conform generally to Securities and Exchange Commission rules.

The collections of information contained in 12 CFR Part 16 are as

follows:

Section 16.3 requires a national bank to file its registration

statement with the OCC;

Section 16.4 states that the OCC may require a national bank to

submit to the OCC certain communications not deemed an offer;

Section 16.6 requires a national bank to file documents with OCC

and to make certain disclosures to purchasers in sales of

nonconvertible debt;

Section 16.17 requires a national bank to file four copies of each

document filed under Part 16, and requires filers of amendments or

revisions to underline or otherwise indicate clearly any changed

information;

Section 16.19 requires a national bank to submit a request to OCC

if it wishes to withdraw a registration statement, amendment, or

exhibit;

Section 16.20 requires a national bank to file current and periodic

reports as required by sections 12 and 13 of the Exchange Act (15

U.S.C. 78l and m) and

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SEC Regulation 15D (17 CFR 240.15d-1 through 240.15Aa-1); and

Section 16.30 requires a national bank to include certain elements

and follow certain procedures in any request to OCC for a no-objection

letter.

These information collection requirements ensure bank compliance

with applicable Federal law, further bank safety and soundness, provide

protections for banks and the public, and further public policy

interests.

Type of Review: Extension, without change, of a currently approved

collection.

Affected Public: Businesses or other for-profit.

Number of Respondents: 80.

Total Annual Responses: 140.

Frequency of Response: On occasion.

Total Annual Burden: 2,660 Hours.

3. Title: Fair Housing Home Loan Data System Regulation (12 CFR

27).

OMB Number: 1557-0159.

Form Number: None.

Abstract: This submission covers an existing regulation and

involves no change to the regulation or to the information collections

embodied in the regulation. The OCC requests only that OMB renew its

approval of the information collections in the current regulation. This

regulation requires national banks to maintain records and to make

occasional filings to the OCC, upon the OCC's request, regarding home

loans and certain other real estate loans.

The Fair Housing Act (42 U.S.C. 3605) prohibits discrimination in

the financing of housing on the basis of race, color, religion, sex, or

national origin. The Equal Credit Opportunity Act (15 U.S.C. 1691 et

seq.) prohibits discrimination in any aspect of a credit transaction on

the basis of race, color, religion, national origin, sex, marital

status, age, receipt of income from public assistance, or exercise of

any right under the Consumer Credit Protection Act. The OCC is

responsible for ensuring that national banks comply with those laws.

This information collection is needed to promote national bank

compliance and for OCC to fulfill its statutory responsibilities.

The collections of information contained in 12 CFR Part 27 are as

follows:

Section 27.3 requires a national bank that is required to collect

data on home loans under 12 CFR 203 to present the data on Federal

Reserve Form FR HMDA-LAR, or in an automated format in accordance with

the HMDA-LAR instructions, and to include one additional item (the

reason for denial) on the HMDA-LAR. Section 27.3 also lists exceptions

to HMDA-LAR recordkeeping requirements. Section 27.3 further lists the

information that banks should obtain from an applicant as part of a

home loan application, and states information that a bank must disclose

to an applicant;

Section 27.5 requires a national bank to maintain the information

for 25 months after the bank notifies the applicant of action taken on

an application, or after withdrawal of an application; and

Section 27.7 requires that a bank submit the information to the OCC

upon its request, prior to a scheduled examination.

These information collection requirements ensure bank compliance

with applicable Federal law, further bank safety and soundness, provide

protections for banks and the public, and further public policy

interests.

Type of Review: Extension, without change, of a currently approved

collection.

Affected Public: Businesses or other for-profit.

Number of Respondents: 3,763.

Total Annual Responses: 3,763.

Frequency of Response: On occasion.

Total Annual Burden: 6,300 Hours.

4. Title: (MA)--Loans in Areas Having Special Flood Hazards (12 CFR

22).

OMB Number: 1557-0202.

Form Number: None.

Abstract: This submission covers an existing regulation and

involves no change to the regulation or to the information collections

embodied in the regulation. The OCC requests only that OMB renew its

approval of the information collections in the current regulation. This

regulation requires national banks to make disclosures and keep records

regarding whether a property securing a loan is located in a special

flood hazard area.

This collection of information is required by section 303(a) and

Title V of the Riegle Community Development and Regulatory Improvement

Act of 1994, Pub. L. 103-325, 108 Stat. 2160, 2255-87, the National

Flood Insurance Reform Act of 1994 amendments to the National Flood

Insurance Act of 1968, Pub. L. 90-448, 82 Stat. 476, and the Flood

Disaster Protection Act of 1973, Pub. L. 93-234, 87 Stat. 975. (These

statutes are codified at 44 U.S.C. 4001 et seq.).

The collections of information contained in 12 CFR Part 22 are as

follows:

Section 22.6 requires a national bank to use the standard flood

hazard determination form developed by the Federal Emergency Management

Agency (FEMA). The bank must maintain a copy of the form, in either

hard copy or electronic form, for the period of time the bank owns the

loan; and

Section 22.7 requires a bank or its servicer, in case of where the

borrower has not obtained required flood insurance or has purchased

inadequate coverage, to notify the borrower that the borrower should

obtain adequate flood insurance coverage.

Section 22.9 requires a bank making a loan secured by property

located in a special flood hazard area to notify the borrower and loan

servicer (whether or not flood insurance is available) that the

collateral is located in a special flood hazard area, whether flood

insurance coverage under the National Flood Insurance Program is

available, and whether Federal disaster relief may be available in the

event of flooding. The bank must maintain a record of the receipt of

the notice to the borrower and loan servicer for the period of time the

bank owns the loan.

Section 22.10 requires a bank making a loan secured by property

located in a special flood hazard area to notify FEMA or a designee of

the identity of the servicer, and of any change in servicers.

These information collection requirements ensure bank compliance

with applicable Federal law, further bank safety and soundness, provide

protections for banks and the public, and further public policy

interests.

Type of Review: Extension, without change, of a currently approved

collection.

Affected Public: Businesses or other for-profit.

Number of Respondents: 3,000.

Total Annual Responses: 303,000.

Frequency of Response: On occasion.

Total Annual Burden: 78,000 Hours.

Comments

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 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,

[[Page 32697]]

and purchase of services to provide information.

Dated: June 8, 1998.

Karen Solomon,

Director, Legislative & Regulatory Activities Division.

[FR Doc. 98-15801 Filed 6-12-98; 8:45 am]

BILLING CODE 4810-33-P