[Federal Register Volume 87, Number 77 (Thursday, April 21, 2022)]
[Notices]
[Pages 23914-23915]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-08530]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Comment Request; Community and Economic Development Entities, 
Community Development Projects, and Other Public Welfare Investments

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). An agency may not conduct or sponsor, and respondents are 
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 its 
information collection titled, ``Community and Economic Development 
Entities, Community Development Projects, and Other Public Welfare 
Investments.''

DATES: Comments must be submitted on or before June 21, 2022.

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#60101201090e060f200f03034e14120501134e070f16"><span class="__cf_email__" data-cfemail="68181a0901060e0728070b0b461c1a0d091b460f071e">[email protected]</span></a>.
    <bullet> Mail: Chief Counsel's Office, Attention: Comment 
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0194, 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) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0194'' 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.
    Following the close of this notice's 60-day comment period, the OCC 
will publish a second notice with a 30-day comment period. 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.
    <bullet> Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' tab and click on 
``Information Collection Review'' dropdown. Underneath the ``Currently 
under Review'' section heading, from the drop-down menu select 
``Department of Treasury'' and then click ``submit.'' This information 
collection can be located by searching by OMB control number ``1557-
0194'' or ``Community and Economic Development Entities, Community 
Development Projects, and Other Public Welfare Investments.'' 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, Suite 3E-218, 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, 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 the collection of information set forth in this 
document.
    Title: Community and Economic Development Entities, Community 
Development Projects, and Other Public Welfare Investments.
    OMB Control No.: 1557-0194.
    Description: This submission covers an existing regulation (12 CFR 
part 24), including the CD-1, National Bank Community Development 
Investments form, contained in 12 CFR part 24 Appendix 1, pursuant to 
which a national bank may notify the OCC, or request OCC approval, of 
certain community development investments.
    Section 24.4(a) provides that a national bank may submit a written 
request to the OCC to exceed five percent of its capital and surplus 
for its aggregate, outstanding public welfare investments. The OCC may 
grant permission to the bank to make subsequent public welfare 
investments up to the approved investment limit without prior 
notification to, or approval by the OCC, using the after-the-fact 
notification process consistent with Sec.  24.5(a).
    Section 24.5(a) provides that an eligible national bank may make a 
public welfare investment without prior notification to, or approval 
by, the OCC if the bank submits an after-the-fact notification of an 
investment within 10 days of making the investment.
    Section 24.5(a)(5) provides that a national bank that is not an 
eligible bank consistent with Sec.  24.2(e), but that is at least 
adequately capitalized and has a composite rating of at least 3 with 
improving trends under the Uniform Financial Institutions Rating 
System,

[[Page 23915]]

may submit a letter to the OCC requesting authority to submit after-
the-fact notices of its public welfare investments.
    Section 24.5(b)(1) provides that if a national bank does not meet 
the requirements for after-the-fact notification, including if the 
bank's aggregate outstanding investments exceed the five percent limit, 
unless previously approved by the OCC for subsequent public welfare 
investments, the bank must submit an investment proposal to the OCC 
seeking permission to make the public welfare investment.
    Type of Review: Regular.
    Affected Public: Individuals; Businesses or other for-profit.
    Estimated Number of Respondents: 1,200.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 1,910 hours.
    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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2022-08530 Filed 4-20-22; 8:45 am]
BILLING CODE P


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