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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1557-0194
ICR Reference No:
200807-1557-001
Status:
Historical Active
Previous ICR Reference No:
200601-1557-002
Agency/Subagency:
TREAS/OCC
Agency Tracking No:
Title:
Community and Economic Development Entities, Community Development Projects and other Public Welfare Investments - 12 CFR 24
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
07/01/2008
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/01/2008
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2010
36 Months From Approved
03/31/2009
Responses
400
0
250
Time Burden (Hours)
590
0
371
Cost Burden (Dollars)
0
0
0
Abstract:
Part 24 requires national banks to submit occasional filings for approval to the OCC for public welfare investments. The information is needed to ensure national bank compliance with the law and to ensure national bank safety and soundness. The OCC will use the information to determine whether the investment meets the statutory and regulatory requirements is consistent with safe and sound business practices, such as by not exposing the bank to unlimited liability, and does not pose significant risk to the Federal deposit insurance system.
Authorizing Statute(s):
US Code:
12 USC 24 (Eleventh)
Name of Law: National Bank Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1557-AC79
Final or interim final rulemaking
73 FR 22216
04/24/2008
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Community and Economic Development Entities, Community Development Projects and other Public Welfare Investments - 12 CFR 24
CD-1
National Bank Community Development Investments
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
400
250
0
150
0
0
Annual Time Burden (Hours)
590
371
0
219
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
Notice of proposed rulemaking would add provision that a national bank may submit a written request or letter to the OCC to exceed the 5% limit for aggregate outstanding investments.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Karen Bellesi 202 874-4930
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
07/03/2007
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