20074 Federal Register / Vol. 80, No. 71 / Tuesday, April 14, 2015 / Notices 

1 79 FR 75417 (December 18, 2014). 

2 79 FR 11300 (February 28, 2014). 

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: Regular. 

Affected Public: Businesses or other 

for-profit. 

Estimated Number of Respondents: 

10. 

Estimated Frequency of Response: On 

occasion. 

Estimated Total Burden: 11 hours. 

On January 26, 2015, the OCC issued 

a notice regarding this collection for 60 

days of comment (80 FR 4037). No 

comments were received. Comments 

continue to be 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. 

Dated: April 8, 2015. 

Mary H. Gottlieb, 

Regulatory Specialist, Legislative and 

Regulatory Activities Division. 

[FR Doc. 2015–08499 Filed 4–13–15; 8:45 am] 

BILLING CODE 4810–33–P 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

Agency Information Collection 

Activities: Information Collection 

Renewal; Comment Request; 

Subordinated Debt 

AGENCY: Office of the Comptroller of the 

Currency (OCC), Treasury. 

ACTION: Notice and request for comment. 

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, ‘‘Subordinated Debt.’’ 

DATES: Comments must be submitted on 

or before 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: 

1557–0320, 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 regs.comments@

occ.treas.gov. 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: Under the 

PRA (44 U.S.C. 3501–3520), Federal 

agencies must obtain approval from 

OMB for each collection of information 

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, or provide information to 

a third party. Section 3506(c)(2)(A) of 

the PRA (44 U.S.C. 3506(c)(2)(A)) 

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 proposed 

collection of information set forth in 

this document. 

OMB granted the OCC a six-month 

approval for the information collection 

requirements contained in the interim 

final rule entitled ‘‘Subordinated Debt 

Issued by a National Bank.’’ (December 

2014 Interim Final Rule).1 The OCC 

obtained this approval under existing 

OMB Control No. 1557–0320, which 

contained the information collection 

requirements in the interim final rule 

entitled ‘‘Basel III Conforming 

Amendments Related to CrossReferences, Subordinated Debt and 

Limits Based on Regulatory Capital.’’ 

(February 2014 Interim Final Rule).2

The OCC proposes to extend OMB 

approval of the entire information 

collection for the standard three years. 

Title: Subordinated Debt. 

OMB Control No.: 1557–0320. 

Frequency of Response: On occasion. 

Affected Public: Business or other forprofit. 

Burden Estimates: 

Prepayment of Subordinated Debt in 

Form of Call Option: 184 Respondents; 

1.30 burden hours per respondent; 239 

total burden hours. 

Authority to Limit Distributions: 42 

Respondents; 0.5 hours per respondent; 

21 total burden hours. 

Total Burden: 260 hours. 

Description: The OCC amended its 

rules governing subordinated debt twice 

in 2014. The first set of revisions, 

contained in the February 2014 Interim 

Final Rule, amended the rules 

applicable to both national banks and 

Federal savings associations (12 CFR 

5.47 and 163.81, respectively). The 

second revisions, in the December 2014 

Interim Final Rule, amended only the 

rules application to national banks. 

The February 2014 Interim Final Rule 

revised the requirements of 12 CFR 5.47 

applicable to national banks. 

Specifically, those revisions require that 

all national banks must receive prior 

OCC approval in order to prepay 

subordinated debt that is included in 

tier 2 capital and certain banks must 

receive prior OCC approval to prepay 

subordinated debt that is not included 

in tier 2 capital. If the prepayment is in 

the form of a call option and the 

subordinated debt is included in tier 2 

capital, a national bank must submit the 


asabaliauskas on DSK5VPTVN1PROD with NOTICES
Federal Register / Vol. 80, No. 71 / Tuesday, April 14, 2015 / Notices 20075 

3Appeared as § 5.47(n)(1)(ii)(B) in the February 

2014 Interim Final Rule and subsequently 

redesignated as § 5.47(g)(1)(ii)(B). 

4Appeared as § 5.47(n)(1)(ii)(A) in the February 

2014 Interim Final Rule and subsequently 

redesignated as § 5.47(g)(1)(ii)(A). 

5The OCC proposed to renumber this section as 

new § 5.56 in its proposed rule entitled ‘‘Integration 

of National Bank and Federal Savings Association 

Regulations: Licensing Rules,’’ 79 FR 33260 (June 

10, 2014). 

information required for general 

prepayment requests under 12 CFR 

5.47(g)(1)(ii)(A) 3 and also must comply 

with 12 CFR 5.47(g)(1)(ii)(B)(2) 4, which 

requires a national bank to submit 

either: (1) A statement explaining why 

the bank believes that following the 

proposed prepayment the bank would 

continue to hold an amount of capital 

commensurate with its risk or (2) a 

description of the replacement capital 

instrument that meets the criteria for 

tier 1 or tier 2 capital under 12 CFR 

3.20, including the amount of such 

instrument and the time frame for 

issuance. 

The February 2014 Interim Final Rule 

also revised the requirements of 12 CFR 

163.81 5 applicable to Federal savings 

associations. Specifically, those 

revisions require a Federal savings 

association to obtain prior OCC 

approval to prepay subordinated debt 

securities or mandatorily redeemable 

preferred stock (covered securities) 

included in tier 2 capital. In addition, if 

the prepayment is in the form of a call 

option, a Federal savings association 

must submit the information required 

for general prepayment requests under 

12 CFR 163.81(j)(2)(i) and also comply 

with 12 CFR 163.81(j)(2)(ii)(A), which 

requires a Federal savings association to 

submit either: (1) A statement 

explaining why the Federal savings 

association believes that following the 

proposed prepayment the Federal 

savings association would continue to 

hold an amount of capital 

commensurate with its risk or (2) a 

description of the replacement capital 

instrument that meets the criteria for 

tier 1 or tier 2 capital under 12 CFR 

3.20, including the amount of such 

instrument and the time frame for 

issuance. 

The December 2014 Interim Final 

Rule revised 12 CFR 5.47 to add a 

disclosure requirement in 12 CFR 

5.47(d)(3)(ii)(C). A national bank must 

describe in the subordinated debt note 

the OCC’s authority under 12 CFR 3.11 

to limit distributions, including interest 

payments on any tier 2 capital 

instrument, if the national bank has full 

discretion to permanently or 

temporarily suspend such payments 

without triggering an event of default. 

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 collections of 

information are necessary for the proper 

performance of the OCC’s functions, 

including whether the information has 

practical utility; 

(b) The accuracy of the OCC’s 

estimates of the burden of the 

information collections, including the 

validity of the methodology and 

assumptions used; 

(c) Ways to enhance the quality, 

utility, and clarity of the information to 

be collected; and 

(d) Ways to minimize the burden of 

information collections on respondents, 

including through the use of automated 

collection techniques or other forms of 

information technology. 

Dated: April 8, 2015. 

Mary H. Gottlieb, 

Regulatory Specialist, Legislative and 

Regulatory Activities Division. 

[FR Doc. 2015–08498 Filed 4–13–15; 8:45 am] 

BILLING CODE 4810–33–P 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

Agency Information Collection 

Requirements; Information Collection 

Renewal; Submission for OMB Review; 

Release of Non-Public Information 

AGENCY: Office of the Comptroller of the 

Currency (OCC), Treasury. 

ACTION: Notice and request for comment. 

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, ‘‘Release of Non-Public 

Information.’’ The OCC also is giving 

notice that it has sent the collection to 

OMB for review. 

DATES: You should submit written 

comments by May 14, 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: 

1557–0200, 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 regs.comments@

occ.treas.gov. 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. 

Additionally, please send a copy of 

your comments by mail to: OCC Desk 

Officer, 1557–0200, U.S. Office of 

Management and Budget, 725 17th 

Street NW., #10235, Washington, DC 

20503, or by email to: oirasubmission@

omb.eop.gov. 

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: 

Title: Release of Non-Public 

Information—12 CFR 4, Subpart C. 

OMB No.: 1557–0200. 

Description: This submission covers 

an existing regulation and involves no 

change to the regulation or to the 

information collections embodied in the 

regulation. The OCC requests only that 

OMB renew its approval of the 

information collections in the current 

regulation. 

The information requirements require 

individuals who are requesting nonpublic OCC information to provide the 

OCC with information regarding the 

legal grounds for the request. The 


asabaliauskas on DSK5VPTVN1PROD with NOTICES