Proposed Rules. Notice and request for comment

Agency: Office of the Comptroller of the Currency (OCC), Treasury
Action: Notice and request for comment
Citation: FR Doc. 2016-17490

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 new 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 a new information collection titled “Reduction of Permanent Capital Notice.” The OCC also is giving notice that it has sent the collection to OMB for review.

Dates

Comments must be received by August 24, 2016.

Supplementary Information

The OCC is seeking approval for a proposed new information collection: Title of Collection: Reduction of Permanent Capital Notice. OMB Control No.: 1557-NEW. Type of Review: New collection. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 2. Estimated Frequency of Response: On occasion. Estimated Total Burden: 40 minutes. Description: Under 12 CFR 5.55, the OCC will review the information submitted by a Federal savings association in its application or notice requesting approval to issue a capital distribution to determine whether the Federal savings association's request is in accordance with existing statutory and regulatory criteria. In addition, the information provides the OCC with a mechanism for monitoring reductions in capital since these distributions may place the Federal savings association at risk. On April 26, 2016, the OCC issued a 60-day notice soliciting comment on this proposed information collection, 81 FR 24690. 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. Dated: July 19, 2016. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2016-17490 Filed 7-22-16; 8:45 am]