Securities Offering Disclosure Rules

Forms and Documents

Document Name	Status
1557-0120 8-24-16 424PM.doc Supporting Statement A	2016-08-30

IC Document Collections

IC ID	Document Title	Status
20030	Securities Offering Disclosue Rules -- 12 CFR Part 16 and 12 CFR 167	Unchanged

ICR Details

OMB Control No: 1557-0120	ICR Reference No: 201608-1557-009
Status: Historical Active	Previous ICR Reference No: 201601-1557-005
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Securities Offering Disclosure Rules
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/03/2017
	Date Received in OIRA: 01/23/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2020	36 Months From Approved	07/31/2017
Responses	37	0	61
Time Burden (Hours)	814	0	1,310
Cost Burden (Dollars)	0	0	0

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Abstract: 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.

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Authorizing Statute(s): US Code: 12 USC 1 et seq. Name of Law: National Bank Act
   US Code: 12 USC 1461 et seq. Name of Law: Homeowners' Loan Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AD95	Final or interim final rulemaking	82 FR 8082	01/23/2017

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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

IC Title	Form No.	Form Name
Securities Offering Disclosue Rules -- 12 CFR Part 16 and 12 CFR 167

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ICR Summary of Burden

	Total Approved	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	37	61	0	-24	0	0
Annual Time Burden (Hours)	814	1,310	0	-496	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to: Changing Regulations

Short Statement: The reduction in burden is due to additional exemptions, reduction in number of filing copies, and the move to electronic signatures.

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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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

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: 01/23/2017

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