Community and Economic Development Entities, Community Development Projects and other Public Welfare Investments - 12 CFR 24

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form CD-1 National Bank Community Development Investments	Form	Modified	Available
1557-0194.doc	Supporting Statement A	Uploaded 2007-06-14	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
20070	Community and Economic Development Entities, Community Development Projects and other Public Welfare Investments - 12 CFR 24	Form	Modified	National Bank Community Development Investments

ICR Details

OMB Control No: 1557-0194	ICR Reference No: 200703-1557-003
Status: Historical Inactive	Previous ICR Reference No: 200601-1557-002
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Community and Economic Development Entities, Community Development Projects and other Public Welfare Investments - 12 CFR 24
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Preapproved	Conclusion Date: 10/09/2007
Retrieve Notice of Action (NOA)	Date Received in OIRA: 07/03/2007
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2010	36 Months From Approved	03/31/2009
Responses	400	0	250
Time Burden (Hours)	590	0	371
Cost Burden (Dollars)	0	0	0

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Abstract: Part 24 requires national banks to submit occasional filings for approval to the OCC for public welfare investments. The information is needed to ensure national bank compliance with the law and to ensure national bank safety and soundness. The OCC will use the information to determine whether the investment meets the statutory and regulatory requirements is consistent with safe and sound business practices, such as by not exposing the bank to unlimited liability, and does not pose significant risk to the Federal deposit insurance system.

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Authorizing Statute(s): US Code: 12 USC 24 (Eleventh) Name of Law: National Bank Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AC79	Proposed rulemaking	72 FR 36550	07/03/2007

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Community and Economic Development Entities, Community Development Projects and other Public Welfare Investments - 12 CFR 24	CD-1	National Bank Community Development Investments

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ICR Summary of Burden

table that charts list of burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	400	250	0	150	0	0
Annual Time Burden (Hours)	590	371	0	219	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to:

Short Statement: Notice of proposed rulemaking would add provision that a national bank may submit a written request or letter to the OCC to exceed the 5% limit for aggregate outstanding investments.

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Annual Cost to Federal Government: $0

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]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 07/03/2007

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