Search Results for keywords:"OCC"

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Search Results: keywords:"OCC"

  • Type:Proposed Rule
    Citation:89 FR 99751
    Reading Time:about 39 minutes

    The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively known as "the agencies") are reviewing regulations affecting insured depository institutions. This review, under the Economic Growth and Regulatory Paperwork Reduction Act of 1996, aims to identify rules that are outdated, unnecessary, or too burdensome. The agencies are seeking public comments on specific categories of regulations, including Rules of Procedure, Safety and Soundness, and Securities, in hopes of reducing the regulatory impact, especially on community banks. Public comments are invited until March 11, 2025, and the agencies will use these to help decide if any regulations should be adjusted or removed.

    Simple Explanation

    The government is asking people to help them find out which rules banks have to follow are too old or not needed anymore. They want ideas from everyone, especially from small banks, to make sure the rules are fair and not too hard.

  • Type:Notice
    Citation:90 FR 9055
    Reading Time:about 7 minutes

    The Office of the Comptroller of the Currency (OCC) is inviting comments on the proposed renewal of an information collection, as required by the Paperwork Reduction Act. This involves a revision of their annual stress test reporting template for financial institutions with assets of $250 billion or more, under the Dodd-Frank Act. The proposed updates aim to align with existing Federal Reserve reporting forms and exclude outdated or unnecessary components. Public comments are encouraged and can be submitted by various methods outlined in the notice until March 7, 2025.

    Simple Explanation

    The government wants opinions on changes to a big banks' report card to make sure they’re ready for money problems. They want to make the paperwork easier and more like other forms they already use, and they promise to keep people's info secret as much as the law allows.

  • Type:Notice
    Citation:86 FR 8480
    Reading Time:about 32 minutes

    The Office of the Comptroller of the Currency, the Federal Reserve Board, and the FDIC are requesting public comments on proposed revisions and extensions to specific reports, aiming to update the guidelines for reporting certain types of deposits, such as brokered and sweep deposits. These revisions align with regulations like the Net Stable Funding Ratio and address exceptions in the revised definition of brokered deposits. Public feedback is sought on whether these updates improve the agencies' ability to monitor financial institutions and assess related risks. The changes are set to take effect beginning with the report date of June 30, 2021.

    Simple Explanation

    The government wants to change some rules about how banks tell them about their money, like if it's from special kinds of deposits. They are asking people to say what they think about these rule changes to make sure banks are being safe with their money.

  • Type:Rule
    Citation:86 FR 1254
    Reading Time:about 9 minutes

    On December 11, 2020, the Office of the Comptroller of the Currency (OCC) published a final rule aimed at updating regulations for national banks and Federal savings associations to improve clarity, safety, and efficiency, while eliminating unnecessary requirements. A subsequent correcting amendment, effective January 11, 2021, addresses missing information and corrects three typographical errors within the final rule. These technical changes do not alter the substance of the regulations and were implemented without requiring the usual public notice and comment process, based on the OCC's determination that such steps were unnecessary. The OCC also ensured that the rule would take effect promptly, waiving typical delays because the changes increase compliance flexibility and reduce burdens for regulated institutions.

    Simple Explanation

    The people in charge of banks made some small fixes to their rules to make them clearer and easier to follow, like fixing typos in a book so the story makes more sense, and they did this quickly so banks could follow the new rules sooner.

  • Type:Notice
    Citation:90 FR 12032
    Reading Time:about 4 minutes

    The Office of the Comptroller of the Currency (OCC) is seeking public comments on the renewal of an information collection effort titled, β€œInteragency Statement on Complex Structured Finance Transactions.” This initiative, required by the Paperwork Reduction Act of 1995, aims to reduce paperwork and burden on respondents by soliciting public feedback on the necessity and practicality of the information collected. The OCC invites comments by May 12, 2025, on aspects such as the collection’s utility, accuracy of burden estimates, ways to enhance the information quality, and methods to minimize respondent burden, including the use of technology. This notice marks the start of a 60-day comment period before the OCC will submit the collection for approval.

    Simple Explanation

    The Office of the Comptroller of the Currency (OCC) wants to know what people think about a set of rules that help manage tricky money deals. They are asking if these rules are useful and if there are easier ways to follow them, especially using computers. People have until May 12, 2025, to share their thoughts.

  • Type:Notice
    Citation:90 FR 8735
    Reading Time:about 5 minutes

    The Office of the Comptroller of the Currency (OCC) seeks public comments on renewing its information collection titled "Computer-Security Incident Notification." This information gathering is part of an ongoing effort to minimize paperwork and reduce respondent burden in line with the Paperwork Reduction Act of 1995. The OCC requires banking organizations to inform them within 36 hours of a significant computer-security incident that disrupts their operations. Comments on this proposal can be submitted until March 3, 2025.

    Simple Explanation

    The OCC wants to hear what people think about their rule that banks must tell them quickly if something bad happens to their computers that makes the bank stop working well. They want to make sure it takes as little time and work as possible to do this, and people have until March 3, 2025, to share their thoughts.

  • Type:Notice
    Citation:86 FR 7456
    Reading Time:about 7 minutes

    The Office of the Comptroller of the Currency (OCC) is inviting public and federal agency comments on a proposed revision to an information collection requirement under the Paperwork Reduction Act. This involves updating reporting requirements for national banks and federal savings associations, particularly those with assets of $250 billion or more, to align with stress test templates used by the Federal Reserve. The goal is to minimize the burden on these institutions while ensuring effective stress testing practices. Comments on the proposal are requested by March 29, 2021, and the OCC encourages electronic submissions.

    Simple Explanation

    The Office of the Comptroller of the Currency (OCC) wants to make sure big banks are ready for tough times without making them fill out too much paperwork. They're asking people to share their thoughts on how to do this better by March 29, 2021.

  • Type:Notice
    Citation:86 FR 9994
    Reading Time:about 9 minutes

    The Office of the Comptroller of the Currency (OCC) is requesting public comments on its renewal of the information collection related to "Debt Cancellation Contracts and Debt Suspension Agreements" as required by the Paperwork Reduction Act of 1995. The OCC is seeking feedback on the necessity and utility of the information collected, the accuracy of the burden estimate, and ways to reduce the collection burden on respondents. The comments should be submitted by April 19, 2021, and should include the agency name "OCC" and the identifier "1557-0224." This process ensures that the OCC complies with federal requirements and continues to properly manage the collection of information.

    Simple Explanation

    The government wants to know what people think about a rule they have for banks when they cancel or pause loans. They are asking for ideas on making the rule better and easier to follow.

  • Type:Notice
    Citation:86 FR 2739
    Reading Time:about 6 minutes

    The Office of the Comptroller of the Currency (OCC), part of the Treasury Department, is asking for public comments on its information collection related to the "Uniform Interagency Transfer Agent Registration and Deregistration Forms." This request is part of their efforts to reduce paperwork and respondent burden per the Paperwork Reduction Act of 1995. The forms, known as TA-1 and TA-W, are used by national banks and Federal savings associations to register or deregister as transfer agents for securities. The OCC wants feedback on whether these forms are needed, if their time estimates are accurate, and how they might improve the process. Comments about this information collection must be submitted by March 15, 2021.

    Simple Explanation

    The government is asking people to tell them if the forms banks use for becoming or stopping being a helper with handling stocks are easy and fast enough to fill out. They also want to know if people have ideas on making the forms better.

  • Type:Notice
    Citation:86 FR 9571
    Reading Time:about 4 minutes

    The Office of the Comptroller of the Currency (OCC) is requesting comments from the public and other federal agencies on renewing an information collection known as the "Bank Appeals Follow-Up Questionnaire." This is part of a broader effort to reduce paperwork and respondent burden under the Paperwork Reduction Act of 1995 (PRA). The information gathered will assess the effectiveness of the OCC's appeals process for banks and help improve it. Comments on the need, accuracy, and potential improvements of this information collection are invited, and they must be submitted by April 19, 2021.

    Simple Explanation

    The OCC is asking people to share their thoughts on a form called the "Bank Appeals Follow-Up Questionnaire," which helps them figure out if their bank appeal process is working well. They're doing this to make sure it's as easy and quick as possible, and you can send in your thoughts by April 19, 2021.

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