Savings associations use the reports
and records that the regulations require for internal management
control purposes and examiners use them to determine whether
savings associations are being operated safely, soundly, and in
compliance with regulations. An absence of the reporting and record
keeping requirements would not allow for prudent internal controls
or for examiners to determine the accurate performance and
condition of savings associations. This previously included the
reporting and recordkeeping requirements for savings associations
imposed by the FRB's Regulations B, E, M, and Z. On July 21, 2010,
President Barack Obama signed into law the Dodd-Frank Wall Street
Reform and Consumer Protection Act, P.L. 111-203, 124 Stat. 1376
(2010) (Dodd-Frank Act). As part of the comprehensive package of
financial regulatory reform measures enacted, Title III of the
Dodd-Frank Act transfers the powers, authorities, rights and duties
of the Office of Thrift Supervision to other banking agencies,
including the OCC, on the "transfer date." The transfer date is one
year after the date of enactment of the Dodd-Frank Act, July 21,
2011. The Dodd-Frank Act also abolishes the OTS ninety days after
the transfer date. As a result of the Dodd-Frank Act, OCC is making
a non-substantive change to this collection of information to
remove the burden carried in this collection for savings
associations for the requirements in FRB Regulations B, E, M, and
Z. The OCC previously added this burden to OMB Control No.
1557-0176, which carries the Regulation B, E, M, and Z burden for
national banks. The final step in transferring the burden is
removing it from this collection.
PL:
Pub.L. 111 - 203 312 Name of Law: Dodd-Frank Wall Street Reform
and Consumer Protection Act
PL: Pub.L. 111 - 203 312 Name of Law:
Dodd-Frank Wall Street Reform and Consumer Protection Act
This information collection
relates to reports and records required by the following
regulations: 12 CFR 552.11 (books and records, federal stock
associations), 12 CFR 545.96(c) (agency business records, federal
stock associations), 12 CFR 544.8 (communications between members
of a federal mutual savings association), 12 CFR 562.1 (regulatory
reporting requirements, each savings association and its
affiliates), 12 CFR 563.1 (chartering documents, each savings
association), 12 CFR 563.47(e) (pension plans, each savings
association or service corporation), 12 CFR 572.6(b) (standard
flood hazard determination form, each savings association), 12 CFR
562.4 (audit of savings association, savings and loan holding
company, or affiliate), 12 CFR 563.76(c) (offers and sales of
securities of a savings association or its affiliates in any office
of the savings association), and 12 CFR 584.1(f) (books and records
of each savings and loan holding company). It previously also
included the burden for the FRB's Regulations B, E, M, and Z. OCC
amended OMB Control No. 1557-0176 to include the burden OTS had
been carrying for savings associations for Regs B, E, M, and Z. OCC
is now removing that burden from this collection, resulting in a
decrease in burden hours.
$0
No
No
No
Yes
No
Uncollected
Robyn Dennis 202
906-5751
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:
(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;
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.
1557-0266 Burden Chart.doc
General Reporting and Recordkeeping by Savings Associations