[Federal Register Volume 80, Number 71 (Tuesday, April 14, 2015)]
[Notices]
[Pages 20077-20078]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-08494]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; International Regulation
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).
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 ``International Regulation.''
DATES: Comments must be received by June 15, 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
Activities Division, Office of the Comptroller of the Currency,
Attention: 1557-0102, 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
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 proposing to extend OMB approval
of the following information collection without change:
Title: International Regulation--Part 28.
OMB Control No.: 1557-0102.
Description: This submission covers an existing regulation and
involves no change to the regulation or to the information collection
requirements. The OCC requests only that OMB extend its approval of the
information collection.
12 CFR 28.3 Filing Requirements for Foreign Operations of a
National Bank--Notice Requirement. A national bank shall notify the OCC
when it files an application, notice, or report with the FRB \1\ to
establish or open a foreign branch, or acquire or divest of an interest
in, or close, an Edge corporation, Agreement corporation, foreign bank,
or other foreign organization; or opens a foreign branch, and no
application or notice is required by the FRB for such transaction.
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\1\ Board of Governors of the Federal Reserve System.
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In practice, the OCC also has required an application pursuant to
section 28.3(c) from a national bank seeking to join a foreign
exchange, clearinghouse, or similar type of organization. In lieu of a
notice, the OCC may accept a copy of an application, notice, or report
submitted to another Federal agency that covers the proposed action and
contains substantially the same information required by the OCC. A
national bank shall furnish the OCC with any additional information the
OCC may require in connection with the national bank's foreign
operations.
12 CFR 28.14(c) Limitations Based Upon Capital of a Foreign Bank--
Aggregation. A foreign bank shall aggregate business transacted by all
Federal branches and agencies with the business transacted by all state
branches and agencies controlled by the foreign bank in determining its
compliance with limitations based upon the capital of the foreign bank.
A foreign bank shall designate one Federal branch or agency office in
the United States to maintain consolidated information so that the OCC
can monitor compliance.
12 CFR 28.15(d), (d)(1), (d)(2), and (f) Capital Equivalency
Deposits. A foreign bank should require its depository bank to
segregate its capital equivalency deposits on the depository bank's
books and records. The instruments making up the capital equivalency
deposit that are placed in safekeeping at a depository bank to satisfy
a foreign bank's capital equivalency deposit requirement must be
maintained pursuant to an agreement prescribed by the OCC that shall be
a written agreement entered into with the OCC. Each Federal branch or
agency shall maintain a capital equivalency account and keep records of
the amount of liabilities requiring capital equivalency coverage in a
manner and form prescribed by the OCC. A foreign bank's capital
equivalency deposits may not be reduced in value below the
[[Page 20078]]
minimum required for that branch or agency without the prior approval
of the OCC, but in no event below the statutory minimum.
12 CFR 28.16(c) Deposit-Taking by an Uninsured Federal branch--
Application for an Exemption. A foreign bank may apply to the OCC for
an exemption to permit an uninsured Federal branch to accept or
maintain deposit accounts that are not listed in section 28.16(b). The
request should describe the types, sources, and estimated amount of
such deposits and explain why the OCC should grant an exemption, and
how the exemption maintains and furthers the policies described in
section 28.16(a).
12 CFR 28.16(d) Deposit-Taking by an Uninsured Federal Branch--
Aggregation of Deposits. A foreign bank that has more than one Federal
branch in the same state may aggregate deposits in all of its Federal
branches in that state, but exclude deposits of other branches,
agencies, or wholly owned subsidiaries of the bank. The Federal branch
shall compute the average amount by using the sum of deposits as of the
close of business of the last 30 calendar days ending with, and
including, the last day of the calendar quarter, divided by 30. The
Federal branch shall maintain records of the calculation until its next
examination by the OCC.
12 CFR 28.18(c)(1) Recordkeeping and Reporting--Maintenance of
Accounts, Books, and Records. Each Federal branch or agency shall
maintain a set of accounts and records reflecting its transactions that
are separate from those of the foreign bank and any other branch or
agency. The Federal branch or agency shall keep a set of accounts and
records in English sufficient to permit the OCC to examine the
condition of the Federal branch or agency and its compliance with
applicable laws and regulations.
12 CFR 28.20(a)(1) Maintenance of Assets--General Rule. The OCC may
require a foreign bank to hold certain assets in the state in which its
Federal branch or agency is located.
12 CFR 28.22(e) Reports of Examination. The Federal branch or
agency shall send the OCC certification that all of its Reports of
Examination have been destroyed or return its Reports of Examination to
the OCC.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 49.
Estimated Total Annual Burden: 2,284.
Frequency of Response: On occasion.
Comments submitted in response to this notice will be summarized,
included in the request for OMB approval, and 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.
Dated: April 8, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-08494 Filed 4-13-15; 8:45 am]
BILLING CODE 4810-33-P