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###### Department of the Treasury

###### Office of the Comptroller of the Currency

# 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 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.” The OCC also is giving notice that it has sent the collection to OMB for review.

# DATES:

Comments must be submitted on or before July 27, 2022.

# ADDRESSES:

                        Commenters are encouraged to submit comments by email, if possible. You may submit comments by any of the following methods:                              ( print page 38258)    
      - Email: prainfo@occ.treas.gov.
      -  Mail:                          Chief Counsel's Office, Attention: Comment Processing, 1557-0194, Office of the Comptroller of the Currency, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.                    
      -  Hand Delivery/Courier:                          400 7th Street SW, Suite 3E-218, Washington, DC 20219.                    
      -  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.                    

                        Written comments and recommendations for the proposed information collection should also be sent within 30 days of publication of this notice to                         *www.reginfo.gov/​public/​do/​PRAMain.*                         Find this particular information collection by selecting “Currently under 30-day Review—Open for Public Comments” or by using the search function.                    

On April 21, 2022, the OCC published a 60-day notice for this information collection, 87 FR 23914. You may review comments and other related materials that pertain to this information collection following the close of the 30-day comment period for this notice by the method set forth in the next bullet.
      -  Viewing Comments Electronically:                          Go to                          www.reginfo.gov.                          Hover over the “Information Collection Review” tab and click on “Information Collection Review” from the drop-down menu. From the “Currently under Review” 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.                    
      - 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, up to 15 percent of its capital and surplus. 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 § 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 § 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, 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.                

On April 21, 2022, the OCC published a 60-day notice for this information collection, 87 FR 23914. No comments were received. 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 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. 2022-13633 Filed 6-24-22; 8:45 am]

BILLING CODE 4810-33-P