The information collections in parts
16 and 197 allow the OCC to perform its responsibilities relating
to offerings of securities by providing the public with facts about
the condition of a bank, the reasons for raising new capital, and
the terms of securities offerings. The public uses the information
to make informed decisions on whether securities are an appropriate
investment. Under the final rule, part 197 is removed and Federal
savings associations will follow part 16. In addition, § 16.5 is
amended to provide additional exemptions for private placements and
sales of certain fractional interests. The periodic reports on
sales of securities registered under part 197 is not be carried
over to part 16. The filing requirement in § 197.8 are removed and
Federal savings associations with total assets exceeding
$10,000,000 and a class of equity security (other than exempted
security) held of record by 2,000 or more persons are subject to
Exchange Act periodic and current reporting requirements. Section
16.17 reduces from four to one the number of copies that must be
submitted of all registration statements, offering documents,
amendments, notices, or other documents and from four to two the
number of copies of amendments that must be submitted. In addition,
the final rule permits these documents to be signed electronically
using the signature provision in SEC Rule 402. The OCC submitted
the information collection requirements imposed by the final rule
to OMB at the proposed rule stage, 81 FR 13607 (March 14, 2016).
OMB filed a comment, instructing the OCC to examine public comment
in response to the proposed rule and include in the supporting
statement of the next submission, to be submitted to OMB at the
final rule stage, a description of how the OCC has responded to any
public comments on the collection, including comments on maximizing
the practical utility of the collection and minimizing the burden.
The OCC received no comments regarding the information collection
and has resubmitted it to OMB for review in connection with the
final rule.
The reduction in burden is due
to additional exemptions, reduction in number of filing copies, and
the move to electronic signatures.
$0
No
No
No
No
No
Uncollected
Michael Dugas 202
874-5210
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.