COMMENT: OMB
files this comment in accordance with 5 CFR 1320.11( c ). This OMB
action is not an approval to conduct or sponsor an information
collection under the Paperwork Reduction Act of 1995. This action
has no effect on any current approvals. If OMB has assigned this
ICR a new OMB Control Number, the OMB Control Number will not
appear in the active inventory. For future submissions of this
information collection, reference the OMB Control Number provided.
Resubmit when proposed rule is finalized.
Inventory as of this Action
Requested
Previously Approved
04/30/2020
36 Months From Approved
04/30/2020
3,302
0
3,302
94,512
0
94,512
0
0
0
The information collections are
required by statute to regulate real estate lending and holding by
national banks and savings associations (institutions). These
regulations are required by statute and are used by the OCC to
ensure the safe and sound operation of institutions and institution
compliance. This ICR is being filed in connection with a notice of
proposed rulemaking that would increase the threshold level above
which appraisals would be required for commercial real estate loans
from $250,000 to $400,000 under 12 CFR 34.44. The change reflects
comments received through the regulatory review process required by
the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA)
and completed at the end of 2016. Ordinarily, this would result in
a burden reduction. However, the OCC and the other banking agencies
have determined that the current burden for this provision was out
of date and have updated their estimates, resulting in an overall
increase in burden. The OCC will update the estimates for the
remaining provisions in this information collection as part of the
next three-year renewal. The remaining provisions are not discussed
in the preamble to the notice of proposed rulemaking and OCC is not
requesting an extension of the current expiration date for the
collection.
US Code:
12 USC 3331 et seq. Name of Law: Financial Institutions Reform,
Recovery and Enforcement Act of 1989
The increase in burden is due
to the availability of more accurate burden estimates.
$0
No
No
No
No
No
Uncollected
Kevin Lawton 202 649-7152
kevin.lawton@occ.treas.gov
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.