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OMB Control No: 1557-0320	ICR Reference No: 201504-1557-003
Status: Historical Active	Previous ICR Reference No: 201411-1557-003
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Subordinated Debt
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/24/2015
	Date Received in OIRA: 06/22/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2018	36 Months From Approved	10/31/2015
Responses	226	0	226
Time Burden (Hours)	260	0	260
Cost Burden (Dollars)	0	0	0

Abstract: This collection covers several portions of the OCC's subordinated debt rules. National banks must receive prior OCC approval in order to prepay subordinated debt that is included in tier 2 capital, and certain banks must receive prior approval to prepay subordinated debt that is not included in tier 2 capital. If the prepayment is in the form of a call option and the subordinated debt is included in tier 2 capital, a national bank must submit the information required for general prepayment requests and also submit either: (1) a statement explaining why the bank believes that following the proposed prepayment the bank would continue to hold an amount of capital commensurate with its risk; or (2) a description of the replacement capital instrument that meets the criteria for tier 1 or tier 2 capital, including the amount of such instrument and the time frame for issuance. Prepayment of subordinated debt securities or mandatorily redeemable preferred stock included in tier 2 capital by Federal savings associations requires prior OCC approval. If the prepayment is in the form of a call option, the information required for general prepayment requests must be submitted along with either: (1) a statement explaining why the Federal savings association believes that following the proposed prepayment the savings association would continue to hold an amount of capital commensurate with its risk; or (2) a description of the replacement capital instrument that meets the criteria for tier 1 or tier 2 capital, including the amount of such instrument and the time frame for issuance. In addition, a description must appear on the face of the subordinated debt note of the OCC's authority under 12 CFR 3.11 to limit distributions, including interest payments on any tier 2 capital instrument if the national bank has full discretion to permanently or temporarily suspend such payments without triggering an event of default.

Authorizing Statute(s): US Code: 12 USC 1 et seq. Name of Law: The National Bank Act

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 20074	04/14/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 35739	06/22/2015
Did the Agency receive public comments on this ICR? No

Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Disclosures
Prior Approvals

ICR Summary of Burden

	Total Approved	Previously Approved
Annual Number of Responses	226	226
Annual Time Burden (Hours)	260	260
Annual Cost Burden (Dollars)	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

Annual Cost to Federal Government:

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]? 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? Uncollected

Agency Contact: Jean Campbell 202 874-5090 jean.campbell@occ.treas.gov

View ICR - OIRA Conclusion