Rules and Regulations. Notice and request for comment

Agency: Office of the Comptroller of the Currency (OCC), Treasury
Action: Notice and request for comment
Citation: FR Doc. 2014-03315

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 a 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, “General Reporting and Recordkeeping Requirements by Savings Associations.”

Dates

Comments must be submitted on or before April 15, 2014.

Supplementary Information

Under the PRA (44 U.S.C. 3501-3520), Federal agencies must obtain approval from the 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. The OCC is proposing to extend OMB approval of the following information collection: Title: General Reporting and Recordkeeping Requirements by Savings Associations. OMB Control No.: 1557-0266. Type of Review: Regular review. Abstract: This information collection relates to reports and records required by the following regulations: • 12 CFR 152.11 (books and records, Federal stock associations); • 12 CFR 145.96(c) (agency business records, Federal stock associations); • 12 CFR 144.8 (communications between members of a Federal mutual savings association); • 12 CFR 162.1 (regulatory reporting requirements, each savings association and its affiliates); • 12 CFR 163.1 (chartering documents, each savings association); • 12 CFR 163.47(e) (pension plans, each savings association or service corporation); • 12 CFR 172.6(b) (standard flood hazard determination form, each savings association); • 12 CFR 162.4 (audit of savings association, savings and loan holding company, or affiliate); and • 12 CFR 163.76(c) (offers and sales of securities of a savings association or its affiliates in any office of the savings association). Savings associations use the reports and records that the regulations require for internal management control purposes and examiners use them to determine whether savings associations are being operated safely, soundly, and in compliance with regulations. An absence of the reporting and record keeping requirements would not allow for prudent internal controls or for examiners to determine the accurate performance and condition of savings associations. Affected Public: Businesses or other for-profit. Burden Estimates: Estimated Number of Respondents: 500. Estimated Total Burden: 68,345 hours. Frequency of Response: On occasion. Comments: 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; (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; and (e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Dated: February 10, 2014. Stuart E. Feldstein, Director, Legislative and Regulatory Activities Division. [FR Doc. 2014-03315 Filed 2-13-14; 8:45 am]