[Federal Register Volume 81, Number 142 (Monday, July 25, 2016)]
[Notices]
[Pages 48499-48500]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-17488]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Disclosure and Reporting of CRA-
Related Agreements
AGENCY: Office of the Comptroller of the Currency, Treasury.
ACTION: Notice and request for comment.
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SUMMARY: The Office of the Comptroller of the Currency (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).
An agency may not conduct or sponsor, and a respondent is not
required to respond to, an information collection unless it displays a
currently valid OMB control number.
The OCC is soliciting comment concerning the renewal of its
information collection titled, ``Disclosure and Reporting of CRA-
Related Agreements.'' The OCC also is giving notice that it has sent
the collection to OMB for review.
DATES: Comments must be received by August 24, 2016.
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: 1557-0219, 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 or, for persons who are deaf or hard of
hearing, TTY, (202) 649-5597. 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
[[Page 48500]]
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.
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0219, U.S. Office of Management and Budget, 725 17th
Street NW., #10235, Washington, DC 20503, or by email to: oira
[email protected].
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490 or, 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, Washington, DC
20219.
SUPPLEMENTARY INFORMATION: The OCC is proposing to extend, without
change, OMB approval of the following information collection:
Title: Disclosure and Reporting of CRA-Related Agreements.
OMB Control No.: 1557-0219.
Description: National banks, Federal savings associations, and
their affiliates (institutions) occasionally enter into agreements with
nongovernmental entities or persons (NGEPs) that are related to their
Community Reinvestment Act (CRA) responsibilities. Section 48 of the
Federal Deposit Insurance Act (FDI Act) \1\ requires disclosure of
certain of these agreements and imposes reporting requirements on
institutions and other insured depository institutions (IDIs), their
affiliates, and NGEPs. As mandated by the FDI Act, the OCC, the Federal
Deposit Insurance Corporation, and the Federal Reserve Board issued
regulations to implement these disclosure and reporting requirements.
The disclosure and reporting provisions of these regulations constitute
collections of information under the PRA. The regulation issued by the
OCC is codified at 12 CFR part 35, and the collections of information
contained in that regulation are known as ``CRA Sunshine.''
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\1\ 12 U.S.C. 1831y.
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Section 48 of the FDI Act applies to written agreements that: (1)
Are made in fulfillment of the CRA; (2) involve funds or other
resources of an IDI or affiliate with an aggregate value of more than
$10,000 in a year or loans with an aggregate principal value of more
than $50,000 in a year; and (3) are entered into by an IDI or affiliate
of an IDI and an NGEP.\2\
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\2\ 12 U.S.C. 1831y(e).
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The parties to a covered agreement must make the agreement
available to the public and the appropriate agency.\3\ The parties also
must file a report annually with the appropriate agency concerning the
disbursement, receipt, and use of funds or other resources under the
agreement.\4\ The collections of information in CRA Sunshine implement
these statutorily mandated disclosure and reporting requirements. The
parties to the agreement may request confidential treatment of
proprietary and confidential information in an agreement or annual
report.\5\
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\3\ 12 U.S.C. 1831y(a).
\4\ 12 U.S.C. 1831y(b)-(c).
\5\ 12 CFR 35.8; see 12 U.S.C. 1831y(h)(2)(A).
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The information collections are found in 12 CFR 35.4(b); 35.6(b)-
(d); and 35.7(b) and (f).
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals; Businesses or other for-profit.
Estimated Number of Respondents: 14.
Estimated Total Annual Burden: 1,026.
Comments: On March 9, 2016, the OCC issued a 60-day notice
soliciting comment on this information collection, 81 FR 12565. The OCC
received one comment from an individual.
The commenter stated that the collection is necessary and has
practical utility. The commenter suggested that the OCC amend 12 CFR
35.6 to require that national banks and Federal savings associations
publish covered agreements on their Web sites and that the OCC post
them on its Web site as well. The CRA Sunshine statute set forth in
section 48 of the FDI Act requires that the Federal banking agencies'
CRA Sunshine regulations protect proprietary and confidential
information of parties.\6\ In order to comply with that statutory
requirement, the OCC will make covered agreements and annual reports
available to the public in accordance with the Freedom of Information
Act (FOIA) \7\ and the OCC's rules regarding the availability of
information under the FOIA.\8\
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\6\ 12 U.S.C. 1831y(h)(2)(A).
\7\ 5 U.S.C. 552 et seq.
\8\ 12 CFR part 4, subpart b; see 12 CFR 35.8.
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The commenter believed that the burden estimates may be low as
institutions may not be aware of the filing requirements in Sec.
35.6(d). The commenter requested that the OCC discuss how the estimates
were derived and whether the possibility of underreporting was factored
into the estimates. The estimates were obtained by counting the number
of actual filings received. Failure to report due to a lack of
awareness of the filing requirements in Sec. 35.6 was not considered
as this is not within the scope of the PRA.
Comments continue to be 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 information
collection burden;
(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: July 19, 2016.
Karen Solomon,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2016-17488 Filed 7-22-16; 8:45 am]
BILLING CODE 4810-33-P