[Federal Register Volume 88, Number 246 (Tuesday, December 26, 2023)]
[Notices]
[Pages 89026-89027]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-28374]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Revision of an Approved 
Information Collection; Comment Request; Bank Activities and 
Operations; Investment in Bank Premises

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 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 a revision to its information collection titled, 
``Bank Activities and Operations; Investment in Bank Premises.''

DATES: Comments must be received by February 26, 2024.

ADDRESSES: Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
    <bullet> Email: <a href="/cdn-cgi/l/email-protection#86f6f4e7efe8e0e9c6e9e5e5a8f2f4e3e7f5a8e1e9f0"><span class="__cf_email__" data-cfemail="4d3d3f2c24232b220d222e2e63393f282c3e632a223b">[email protected]</span></a>.
    <bullet> Mail: Chief Counsel's Office, Attention: Comment 
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0204, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
    <bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
    <bullet> Fax: (571) 293-4835.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0204'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, such as name and address information, 
email addresses, or phone numbers. Comments received, including 
attachments and other supporting materials, are part of the public 
record 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.
    You may review comments and other related materials that pertain to 
this information collection beginning on the date of publication of the 
second notice for this collection by the method set forth in the next 
bullet. Following the close of this notice's 60-day comment period, the 
OCC will publish a second notice with a 30-day comment period.
    <bullet> Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' drop-down menu. Click 
on ``Information Collection Review.'' From the ``Currently under 
Review'' drop-down menu, select ``Department of Treasury'' and then 
click ``submit.'' This information collection can be located by 
searching OMB control number ``1557-0204'' or ``Bank Activities and 
Operations; Investment in Bank Premises.'' Upon finding the appropriate 
information collection, click on the related ``ICR Reference Number.'' 
On the next screen, select ``View Supporting Statement and Other 
Documents'' and then click on the link to any comment listed at the 
bottom of the screen.
    <bullet> For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, 
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of 
the Currency, 400 7th Street SW, Washington, DC 20219. If you are deaf, 
hard of hearing, or have a speech disability, please dial 7-1-1 to 
access telecommunications relay services.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal 
agencies must obtain approval from OMB for each collection of 
information that they conduct or sponsor. ``Collection of information'' 
is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency 
requests or requirements that members of the public submit reports, 
keep records, and/or provide information to a third party. Section 
3506(c)(2)(A) of title 44 requires Federal agencies to provide a 60-day 
notice in the Federal Register concerning each proposed collection of 
information, including each proposed extension of an existing 
collection of information, before submitting the collection to OMB for 
approval. To comply with this requirement, the OCC is publishing notice 
of the renewal of this collection.
    Title: Bank Activities and Operations; Investment in Bank Premises.
    OMB Control No.: 1557-0204.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Businesses or other for-profit.
    Estimated Frequency of Response: On occasion; Quarterly.
    Description: The information collection requirements ensure that 
institutions conduct their operations in a safe and sound manner and in 
accordance with applicable Federal banking law and regulations. The 
collections of information provide needed information for examiners and 
offer protections for institutions. The collections are necessary for 
regulatory and examination purposes and for national banks to ensure 
their compliance with Federal law and regulations.
    The information collection requirements are as follows:
    <bullet> Investment in national bank or Federal savings association 
premises--A national bank or Federal savings association may invest in 
banking premises and other premises-related investments, loans, or 
indebtedness by filing an application for prior approval whenever its 
investment in bank premises will cause it to exceed its capital stock. 
The application must describe the present and proposed investment and 
the business reason for exceeding the limit. A bank with a composite 1 
or 2 CAMELS rating entering a transaction that increases its aggregate 
bank premises investment to not more than 150 percent of its capital 
and surplus may proceed without prior OCC approval but must provide an 
after-the-fact notice. 12 CFR 5.37.
    <bullet> Sale of money orders at nonbanking outlets--A national 
bank may designate bonded agents to sell the bank's money orders at 
nonbanking outlets. The responsibility of both the bank and its agent 
should be defined in a written agreement setting forth the duties of 
both parties and providing for remuneration of the agent. 12 CFR 
7.1014.
    <bullet> Tax equity finance transactions--Written requests are 
required for waiver to participate in a renewable energy tax equity 
finance transaction exceeding the aggregate investment limit. Prior 
written notification to OCC is required for each renewable energy tax 
equity finance transaction. 12 CFR 7.1025.
    <bullet> Payment systems--Thirty (30) days advance written notice 
is required before joining a payment system that

[[Page 89027]]

would expose the institution to open-ended liability. After-the-fact 
written notice must be filed within 30 days of becoming a member of a 
payment system that does not expose the institution to open-ended 
liabilities with certain representations. Both notices must include 
safety and soundness representations. 12 CFR 7.1026.
    <bullet> Derivatives activities--Thirty (30) days prior written 
notice is required before engaging in certain derivatives hedging 
activities, expanding the bank's derivatives hedging activities to 
include a new category of underlying for derivatives transactions, 
engaging in certain customer-driven financial intermediation 
derivatives activities, and expanding the bank's customer-driven 
financial intermediation derivatives activities to include a new 
category of underlyings specified in the regulation. 12 CFR 7.1030.
    <bullet> Corporate governance procedures--Other sources of 
guidance--A national bank shall designate in its bylaws the body of law 
selected for its corporate governance procedures. 12 CFR 7.2000(b).
    <bullet> State corporate governance--Requests for OCC's staff 
position on ability of a national bank to engage in a particular State 
corporate governance procedure must include name, citations, discussion 
of similarly situated State banks, identification of Federal banking 
statutes and regulations, and analysis of consistency with statutes, 
regulations, and safety and soundness. 12 CFR 7.2000(d).
    <bullet> Honorary directors or advisory boards--Any listing of a 
national bank's honorary or advisory directors must distinguish between 
those directors and the bank's board of directors or indicate their 
advisory status. 12 CFR 7.2004.
    <bullet> Indemnification of institution-affiliated parties--written 
agreement required for advancement--A written agreement that an IAP 
will reimburse the institution for any portion of non-reimbursed 
indemnification that the IAP is found not entitled to before advancing 
funds to an IAP. 12 CFR 7.2014(c).
    <bullet> Issuing stock in certificate form--National banks must 
include certain information, signatures, and seal when issuing stock in 
certificate form. 12 CFR 7.2016.
    <bullet> Staggered terms for national bank directors--Any national 
bank may adopt bylaws that provide for staggering the terms of its 
directors. National banks must provide the OCC with copies of any 
bylaws so amended. 12 CFR 7.2024(a).
    <bullet> Size of bank board--A national bank seeking to increase 
the number of its directors must notify the OCC any time the proposed 
size would exceed 25 directors. 12 CFR 7.2024(c).
    Estimated Number of Respondents: 1,727.
    Estimated Total Annual Burden: 1,138 hours.
    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 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.

Patrick T. Tierney,
Assistant Director, Bank Advisory, Office of the Comptroller of the 
Currency.
[FR Doc. 2023-28374 Filed 12-22-23; 8:45 am]
BILLING CODE 4810-33-P


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