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. 2025-20960

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). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the 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 the renewal of its information collection titled, “Extensions of Credit to Insiders and Transactions with Affiliates.”

Dates

Comments must be received by January 26, 2026.

Supplementary Information

Under the PRA (44 U.S.C. 3501 et seq. ), Federal agencies must obtain approval from the 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, imposed on ten or more persons, that members of the public submit reports, keep records, or provide information to a third party. Section 3506(c)(2)(A) of title 44 generally 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 this collection. Title: Extensions of Credit to Insiders and Transactions with Affiliates. OMB Control No.: 1557-0336. Type of Review: Regular. Affected Public: Businesses or other for-profit. Description: National banks and Federal savings associations must comply with rules of the Federal Reserve Board (Board) regarding extensions of credit to insiders (Regulation O) 1 and transactions with affiliates (Regulation W), 2 which implement section 22(h) and sections 23A and 23B, respectively, of the Federal Reserve Act (FRA). 3 Twelve CFR part 31.2 requires national banks, Federal savings associations, and their insiders to comply with Regulation O, and 12 CFR 31.3 requires national banks and Federal savings associations to comply with Regulation W. A to part 31 provides interpretive guidance on the application of Regulation W to deposits between affiliated banks. 1 12 CFR part 215. 2 12 CFR part 223. 3 12 U.S.C. 371c, 371c-1, 375a, and 375b. In addition, section 11 of the Home Owners' Loan Act, 12 U.S.C. 1468, includes certain restrictions on transactions with affiliates that are not included in FRA section 23A. 4 12 U.S.C. 371c(f)(2)(B)(i). 5 12 U.S.C. 1468(d). Section 31.3(c) implements the statutory standards for authorizing an exemption from section 23A of the FRA 4 or section 11 of the Home Owners' Loan Act (HOLA) 5 in accordance with section 608 of the Dodd Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 608, which became effective on July 21, 2012, amends section 23A of the FRA and section 11 of the HOLA to authorize the OCC to exempt, by order, a transaction of a national bank or Federal savings association, respectively, from the affiliate transaction requirements of section 23A and section 11 of the HOLA if: (1) the OCC and the Board jointly find the exemption to be in the public interest and consistent with the purposes of section 23A or section 11, and (2) within 60 days of receiving notice of such finding, the Federal Deposit Insurance Corporation does not object in writing to the finding. Such objection would be based on a determination that the exemption presents an unacceptable risk to the Deposit Insurance Fund. 6 6 See section 608(a)(4)(A)(iv) of the Dodd-Frank Act (exemptive authority for national banks) and section 608(c) of the Dodd-Frank Act (exemptive authority for Federal savings associations). Section 31.3(d) sets forth procedures that a national bank and Federal savings association must follow to request such exemptions. These procedures are modeled after the Board's procedures in Regulation W. A national bank or Federal savings association may request an exemption from the requirements of section 23A or section 11 of the HOLA, as applicable, and 12 CFR part 223 for a national bank or Federal savings association by submitting a written request to the Deputy Comptroller for Licensing with a copy to the appropriate Federal Reserve Bank. Such a request must: (1) Describe in detail the transaction or relationship for which the national bank or Federal savings association seeks exemption; (2) Explain why the OCC should exemption the transaction or relationship; (3) Explain how the exemption would be in the public interest and consistent with the purposes of section 23A or section 11 of the HOLA, as applicable; and (4) Explain why the exemption does not present an unacceptable risk to the Deposit Insurance Fund. Estimated Burden Estimated Frequency of Response: On occasion. Estimated Number of Respondents: 1. Estimated Hours per Response: 10 hours. Estimated Total Annual Responses: 1. Estimated Total Annual Burden: 10 hours. 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 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 start-up costs and costs of operation, maintenance, and purchase of services to provide information. Sarah E. Turney, Assistant Director, Office of the Comptroller of the Currency. [FR Doc. 2025-20960 Filed 11-24-25; 8:45 am]