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View ICR - OIRA Conclusion

OMB Control No: 1557-0014	ICR Reference No: 202002-1557-003
Status: Historical Inactive	Previous ICR Reference No: 201912-1557-005
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Comptroller's Licensing Manual
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 05/12/2020
Retrieve Notice of Action (NOA)	Date Received in OIRA: 04/06/2020
Terms of Clearance: No comments.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2023	02/28/2023	02/28/2023
Responses	3,715	0	3,715
Time Burden (Hours)	12,534	0	12,534
Cost Burden (Dollars)	0	0	0

Abstract: The Comptroller's Licensing Manual (Manual) explains the OCC's policies and procedures for the formation of a new national bank or Federal savings association, entry into the banking system by other institutions, and corporate expansion and structural changes by existing national banks and Federal savings associations. This ICR contains updates to a number of forms included in the Manual. This ICR is being submitted in connection with a notice of proposed rulemaking (NPR) titled “Licensing Amendments.” The NPR would: • Add new definitions to add clarity and consistency across Part 5. This includes proposing a single definition of well managed applicable throughout Part 5. 12 CFR 5.3. • Require each proposed organizer, director, executive officer, or principal shareholder to submit information prescribed in the Interagency Biographical and Financial Report and legible fingerprints. This amendment merely codifies current application requirements and will not result in a change in burden. 12 CFR 5.20. • Eliminate the bylaw amendment notice requirement for Federal savings associations that adopt without change the OCC’s model or optional bylaws set forth in the rule. 12 CFR 5.21, 5.22. • Require that applications to convert to a Federal savings association or national bank include: a list of directors and senior executive officers of the converting institution; and a list of individuals, directors, and shareholders who directly or indirectly, or acting in concert with one or more persons or companies, or together with members of their immediate family, do or will own, control, or hold 10 percent or more of the converting institution’s stock. This amendment merely codifies current application requirements and will not result in a change in burden. 12 CFR 5.23(d)(2)(ii), 5.24(e)(2). • Permit the OCC to require directors and senior executive officers of a converting institution to submit the Interagency Biographical and Financial Report and legible fingerprints. This amendment merely codifies current application requirements and will not result in a change in burden. 12 CFR 5.23, 5.24. • Require that applications for national banks or Federal savings associations that wish to engage in the exercise of fiduciary powers include, if requested by the OCC, the Interagency Biographical and Financial Report and legible fingerprints. 12 CFR 5.26. • Require a filer of a business combination application under CRA to disclose whether it has entered into and disclosed a covered agreement, as defined in 12 CFR 35.2. 12 CFR 5.33(e)(1)(iii)(B). • Remove the requirement that a disappearing national bank or Federal savings association consolidating or merging with another OCC-supervised institution provide a notice to the OCC. 12 CFR 5.33(g), (k). • For national bank operating subsidiaries, expand the after the fact notice for national banks to activities that are substantially the same as previously approved activities that will be conducted in accordance with the same terms and conditions applicable to the previously approved activity. Expand the list of eligible entities to include trusts provided that the bank or operating subsidiary has the ability to replace the trustee at will and be the sole beneficial owner of the trust. 12 CFR 5.34. • Remove the requirement for a national bank to file an annual report identifying its operating subsidiaries that do business directly with consumers and are not functionally regulated. 12 CFR 5.34. • For national bank non-controlling investments and Federal savings association pass-through investments, expand the activities eligible for notice to activities that are substantially the same as previously approved activities. 12 CFR 5.36, 5.58. • Allow national banks and Federal savings associations to file an application to make a non-controlling investment or a pass-through investment, respectively, in an enterprise that has

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

Agency Contact: Yoo Jin Na 2028744604 yoojin.na@occ.treas.gov