The OCC should
analyze whether the $114 hourly burden estimate should be uniform
across all aspects of the collection.
Inventory as of this Action
Requested
Previously Approved
05/31/2021
36 Months From Approved
05/31/2021
1,787,489
0
1,787,489
193,857
0
193,857
0
0
0
The information collections in parts
34 and 160 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
submitted in connection with a notice of proposed rulemaking. The
proposal will not result in a change in burden. While the
respondent count will increase with the addition of Federal savings
associations, we estimate fewer notices from national banks due to
a decrease in charters since the last review, resulting in no
change in burden. Section 34.86(d) updates the requirements for
prior notification for significant additional expenditures on OREO
for national banks and extends the provision to Federal savings
associations. Currently, a national bank must notify the OCC at
least 30 days before making additional expenditures if the amount
of the expenditures and recorded investment in the OREO exceeds ten
percent of its capital and surplus, based on regulatory capital
calculated under 12 CFR part 3. Federal savings associations are
subject to supervisory review of any expenditures on OREO in excess
of their lending limits, which are calculated based on a formula
that incorporates a percentage of capital and surplus. The proposal
updates and streamlines the notification provision by requiring
prior notification only when the proposed additional expenditures
and recorded investment in an individual OREO property exceeds 10
percent of the institution’s total equity capital based on its most
recent Call Report. National banks with significant loan loss
reserves or excessive losses recorded in accumulated other
comprehensive income will generally have a reduced limit for
notification. National banks holding assets that are deducted under
the regulatory capital rule, will generally have an increase limit
for notification under the proposal.
US Code:
12 USC 3331 et seq. Name of Law: Financial Institutions Reform,
Recovery and Enforcement Act of 1989
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.