[Federal Register Volume 80, Number 16 (Monday, January 26, 2015)]
[Notices]
[Pages 4037-4038]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-01355]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; Capital Distribution
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).
Under the PRA, Federal agencies are required to publish notice in
the Federal Register concerning each proposed collection of
information, including each proposed extension of an existing
collection of information and to allow 60 days for public comment in
response to the notice.
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 renewal of its information
collection titled, ``Capital Distribution.''
DATES: Comments must be received by March 27, 2015.
ADDRESSES: Because paper mail in the Washington, DC area and at the OCC
is subject to delay, commenters are encouraged to submit comments by
email if possible. Comments may be sent to: Legislative and Regulatory
[[Page 4038]]
Activities Division, Office of the Comptroller of the Currency,
Attention: 1557-0310, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to
(571) 465-4326 or by electronic mail to [email protected].
You may personally inspect and photocopy comments at the OCC, 400 7th
Street SW., Washington, DC 20219. For security reasons, the OCC
requires that visitors make an appointment to inspect comments. You may
do so by calling (202) 649-6700. Upon arrival, visitors will be
required to present valid government-issued photo identification and to
submit to security screening in order to inspect and photocopy
comments.
All comments received, including attachments and other supporting
materials, are part of the public record and subject to public
disclosure. Do not enclose any information in your comment or
supporting materials that you consider confidential or inappropriate
for public disclosure.
FOR FURTHER INFORMATION CONTACT: Mary H. Gottlieb, OCC Clearance
Officer, (202) 649-5490, for persons who are deaf or hard of hearing,
TTY, (202) 649-5597, Legislative and Regulatory Activities Division,
Office of the Comptroller of the Currency, 400 7th Street SW., Suite
3E-218, Mail Stop 9W-11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is requesting renewal of OMB's
approval of the following information collection.
Title of Collection: Capital Distribution.
OMB Control Number: 1557-0310.
Form Number: 1583.
Description: Under the OCC's rules governing capital distributions
at 12 CFR part 163, subpart E, a Federal savings association (FSA) must
file a capital distribution application with the OCC if: (1) It is not
eligible for expedited treatment under 12 CFR 116.5; (2) the total
amount of the its capital distributions (including the proposed capital
distribution) for the applicable calendar year exceeds its net income
for that year to date, plus retained net income for the preceding two
years; (3) it would not be at least adequately capitalized, as set
forth in 12 CFR 6.4, after the capital distribution; or (4) the
proposed capital distribution would violate any applicable statute,
regulation, or agreement with the OCC or the OTS, or violate a
condition imposed on it in connection with an application or notice
approved by the OCC or the OTS. 12 CFR 163.143(a).
If an FSA is not required to file a capital distribution
application, it may be required to file a capital distribution notice
with the OCC if: (1) It would not be well capitalized following the
capital distribution as set forth in 12 CFR 165.4(b)(1); (2) the
proposed capital distribution would reduce the amount of or retire any
part of its common or preferred stock, or retire any part of debt
instruments (such as notes or debentures) included in capital under 12
CFR part 3 or part 167, as applicable, (other than regular payments
required under a debt instrument approved under 12 CFR 163.81); or (3)
it is a subsidiary of a savings and loan holding company. 12 CFR
163.143(b).
If neither an FSA nor its proposed capital distribution meet the
criteria described above, the FSA is not required to file an
application or notice with the OCC. 12 CFR 163.143(c). However, if the
FSA is required to file a notice with the Board of Governors of the
Federal Reserve System (FRB) involving a cash dividend pursuant to 12
U.S.C. 1467a(f), it is required to provide an informational copy of the
filing to the OCC under 12 CFR 163.143(d) at the same time the notice
is filed with the FRB.
Type of Review: New collection.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 10.
Estimated Frequency of Response: On occasion.
Estimated Total Burden: 11 hours.
Comments are solicited on:
a. Whether the proposed collection of information is necessary for
the proper performance of the functions of the OCC;
b. The accuracy of OCC's estimate of the burden of the proposed
information collection;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of the information collection on
respondents, including through the use of information technology.
e. Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
We will summarize the comments that we receive and include them in
our request for OMB approval. All comments will become a matter of
public record.
Dated: January 20, 2015.
Stuart E. Feldstein,
Director, Legislative and Regulatory Activities Division.
[FR Doc. 2015-01355 Filed 1-23-15; 8:45 am]
BILLING CODE 4810-33-P