[Federal Register Volume 64, Number 67 (Thursday, April 8, 1999)]
[Notices]
[Pages 17216-17217]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-8784]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Information Collection; Submission for OMB Review; Comment
Request
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Submission for OMB review; comment request.
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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. The OCC may not conduct or sponsor, and a respondent is not
required to respond to, an information collection that has been
extended, revised, or implemented unless it displays a currently valid
Office of Management and Budget (OMB) control number. Currently, the
OCC is soliciting comments concerning extension of an information
collection titled International Regulation (12 CFR 28). The OCC also
gives notice that it has sent the information collection to OMB for
review.
DATES: Comments are due by: May 10, 1999.
ADDRESSES: Your comments regarding this information collection are
welcome. You should submit your comments to the OMB Reviewer and to the
OCC's Communications Division, Attention: 1557-0102, Third Floor,
Office of the Comptroller of the Currency, 250 E Street, SW,
Washington, DC 20219. Also, you can send your comments by facsimile
transmission to (202) 874-5274, or by electronic mail to
regs.comments@occ.treas.gov.
You can inspect and photocopy the comments at the OCC's Public
Reference Room, between 9:00 a.m. and 5:00 p.m. on business days. You
can make an appointment to inspect the comments by calling (202) 874-
5043.
FOR FURTHER INFORMATION CONTACT: You can request additional
information, a copy of the collection, or a copy of OCC's submission to
OMB by contacting Jessie Gates or Camille Dixon, (202) 874-5090,
Legislative and Regulatory Activities Division (1557-0102), Office of
the Comptroller of the Currency, 250 E Street, SW, Washington, DC
20219.
SUPPLEMENTARY INFORMATION: On June 15, 1998, the OCC published a
request for comments in the Federal Register (63 FR 32695) concerning
its request for extension without change of the information collection.
No comments were received.
Title: International Regulation (12 CFR 28)
OMB Number: 1557-0102.
Form Number: None.
Abstract: This information collection covers an existing regulation
and involves no change to the regulation or the information collection.
The OCC requests only that OMB renew its approval of the information
collection in the current regulation.
The International Banking Act of 1978, 12 U.S.C. 3101 et seq., as
[[Page 17217]]
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. 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 regulation, 12 CFR 28, implements requirements imposed on
national banks and Federal branches and agencies concerning
international activities. This submission covers all of the information
collections in 12 CFR 28. The following sections of regulations in 12
CFR 28 produce reportable burden:
Section 28.3 requires a national bank to notify the OCC when it
takes certain actions regarding its foreign operations;
Section 28.14 requires a designation of one branch or agency to
maintain consolidated information;
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 28.18 requires a Federal branch or agency to maintain
records and to provide the OCC with a copy of certain reports filed
with other Federal regulatory agencies;
Section 28.20 requires a foreign bank to obtain OCC approval to
maintain certain assets;
Section 28.52 contains recordkeeping requirements and requires a
banking institution to establish and maintain an Allocated Transfer
Risk Reserve in certain circumstances; 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: Renewal of OMB approval without change.
Affected Public: Businesses or other for-profit.
Number of Respondents: 170.
Total Annual Responses: 170.
Frequency of Response: On occasion.
Total Annual Burden Hours: 5,345.
OCC Contact: Jessie Gates or Camille Dixon, (202)874-5090,
Legislative and Regulatory Activities Division, Office of the
Comptroller of the Currency, 250 E Street SW, Washington, DC 20219.
OMB Reviewer: Alexander T. Hunt, Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, DC 20503.
Comments
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 shall have 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: April 1, 1999.
Mark Tenhundfeld,
Assistant Director, Legislative & Regulatory Activities Division.
[FR Doc. 99-8784 Filed 4-7-99; 8:45 am]
BILLING CODE 4810-33-P
