[Federal Register Volume 74, Number 63 (Friday, April 3, 2009)]
[Notices]
[Pages 15322-15324]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-7496]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Proposed Information 
Collection; Comment Request

AGENCY: Office of the Comptroller of the Currency, 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. 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 its information collection titled, ``International 
Regulation--Part 28.''

DATES: Comments must be received by May 4, 2009.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Public Information Room, Mailstop 2-3, Attention: 1557-0102, 
250 E Street, SW., Washington, DC 20219. In addition, comments may be 
sent by fax to (202) 874-5274, or by electronic mail to 
<a href="/cdn-cgi/l/email-protection#b8cadddfcb96dbd7d5d5ddd6cccbf8d7dbdb96cccaddd9cb96dfd7ce"><span class="__cf_email__" data-cfemail="0c7e696b7f226f6361616962787f4c636f6f22787e696d7f226b637a">[email protected]</span></a>. You can inspect and photocopy the comments 
at the OCC, 250 E Street, SW., Washington, DC 20219. You can make an 
appointment to inspect the comments by calling (202) 874-4700.
    Additionally, you should send a copy of your comments to OCC Desk 
Officer, 1557-0102, by mail to U.S. Office of Management and Budget, 
725 17th Street, NW., <greek-i>10235, Washington, DC 20503, or by fax 
to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Mary H. Gottlieb, OCC Clearance 
Officer, (202) 874-5090, Legislative and Regulatory Activities 
Division, Office of the Comptroller of the Currency, 250 E Street, SW., 
Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval 
of the following information collection:
    Title: International Regulation--Part 28.
    OMB Number: 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 Part 28 contains the following collections of information:
    12 CFR 28.3 Filing Requirements for Foreign Operations of a 
National Bank--Notice Requirement. A national bank shall notify the OCC 
when it:
    <bullet> Files an application, notice, or report with the FRB 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.
    <bullet> Opens a foreign branch, and no application or notice is 
required by the FRB for such transaction.
    In practice, the OCC has also required an application pursuant to 
section 28.3(c) from a national bank 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 28.12(a) Covered under Information Collection 1557-0014 
(Comptroller's Licensing Manual) Approval of a Federal branch or 
agency--Approval and Licensing Requirements. A foreign bank shall 
submit an application to, and obtain prior approval from the OCC before 
it establishes a Federal branch or agency, or exercises fiduciary 
powers at a Federal branch.
    12 CFR 28.12(e)(2) Covered under Information Collection 1557-0014 
(Comptroller's Licensing Manual)

[[Page 15323]]

Approval of a Federal branch or agency--Written Notice for Additional 
Intrastate Branches or Agencies. A foreign bank shall provide written 
notice to the OCC 30 days in advance of the establishment of an 
intrastate branch or agency.
    12 CFR 28.12(h) Covered under Information Collection 1557-0014 
(Comptroller's Licensing Manual) Approval of a Federal Branch or 
Agency--After-the-fact Notice for Eligible Foreign Banks. A foreign 
bank proposing to establish a Federal branch or agency through the 
acquisition of, or merger or consolidation with, a foreign bank that 
has an existing bank subsidiary, branch, or agency, may proceed with 
the transaction and provide after-the-fact notice within 14 days of the 
transaction to the OCC if (1) the resulting bank is an ``eligible 
foreign bank'' within the meaning of Sec.  28.12(f) and (2) no Federal 
branch established by the transaction accepts deposits insured by the 
FDIC.
    12 CFR 28.12(i) Covered under Information Collection 1557-0014 
(Comptroller's Licensing Manual) Approval of a Federal Branch or 
Agency--Contraction of Operations. A foreign bank shall provide written 
notice to the OCC within 10 days after converting a Federal branch into 
a limited Federal branch or Federal agency.
    12 CFR 28.14(c) Limitations Based upon Capital of a Foreign Bank--
Aggregation. The 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. Deposit arrangements:
    <bullet> A foreign bank should require its depository bank to 
segregate its capital equivalency deposits on the depository bank's 
books and records.
    <bullet> 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.
    <bullet> 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.
    <bullet> A foreign bank's capital equivalency deposits may not be 
reduced in value below the 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 paragraph (b) of this 
section. The request should describe:
    <bullet> The types, sources, and estimated amount of such deposits 
and explain why the OCC should grant an exemption;
    <bullet> How the exemption maintains and furthers the policies 
described in paragraph (a) of this section.
    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 28.17 Covered under Information Collection 1557-0014 
(Comptroller's Licensing Manual) Notice of Change in Activity or 
Operations. A Federal branch or agency shall notify the OCC if it 
changes its corporate title; changes its mailing address; converts to a 
state branch, state agency, or representative office; or the parent 
foreign bank changes the designation of its home state.
    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.
    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 (b) Covered under Information Collection 1557-0014 
(Comptroller's Licensing Manual) Voluntary Liquidation Notice to 
customers and creditors--A foreign bank shall publish notice of the 
impending closure of each Federal branch or agency for a period of two 
months in every issue of a local newspaper where the Federal branch or 
agency is located. If only weekly publication is available, the notice 
must be published for nine consecutive weeks.
    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.
    12 CFR 28.25(a) Covered under Information Collection 1557-0014 
(Comptroller's Licensing Manual) Change in Control--After-the-fact 
Notice. In cases where no other filing is required, a foreign bank that 
operates a Federal branch or agency shall inform the OCC in writing of 
the direct or indirect acquisition of control of the foreign bank by 
any person or entity, or group of persons or entities acting in 
concert, within 14 calendar days after the foreign bank becomes aware 
of a change in control.
    12 CFR 28.52 Covered under Information Collection 1557-0081 (MA)-
Reports of Condition and Income (Interagency Call Report), FFIEC 031, 
FFIEC 041 Allocated Transfer Risk Reserve. A banking institution shall 
establish an allocated transfer risk reserve for specified 
international assets when required by the OCC in accordance with the 
requirements of the section.
    12 CFR 28.54 Covered under Information Collection 1557-0100 Country 
Exposure Report and Country Exposure Information Report (FFIEC 009, 
FFIEC 009a) Reporting and Disclosure of International Assets. A banking 
institution shall submit to the OCC, at least quarterly, information 
regarding the amounts and composition of its holdings of international 
assets. A banking institution shall submit to the OCC information 
regarding concentrations in its holdings of international assets that 
are material in relation to total assets and to capital of the 
institution.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals; businesses or other for-profit.
    Estimated Number of Respondents: 79.

[[Page 15324]]

    Estimated Total Annual Responses: 117.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 3,661.5.
    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 agency, including whether 
the information has practical utility;
    (b) The accuracy of the agency'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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: March 30, 2009.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
 [FR Doc. E9-7496 Filed 4-2-09; 8:45 am]
BILLING CODE 4810-33-P


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