Search Results for keywords:"Office of the Comptroller of the Currency"

Found 13 results

Search Results: keywords:"Office of the Comptroller of the Currency"

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  • 2024-28227 — Joint Report to Congressional Committees: Differences in Accounting and Capital Standards Among the Federal Banking Agencies as of September 30, 2024
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    Type:Notice
    Citation:89 FR 95786
    Reading Time:about 12 minutes

    The Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation issued a report to Congress. As of September 30, 2024, they found no major differences in the accounting and capital standards for the banks they oversee. While there are some minor differences concerning definitions and rules, these do not significantly affect the institutions. The report highlights how certain rules apply differently to specific banking groups due to legal and regulatory requirements.

    Simple Explanation

    The report shows that three important groups who watch over banks found that they all mostly follow the same rules for how banks should manage their money. Even though there are small differences in the rules for some banks, these don’t change things too much.

  • 2021-00434 — Agency Information Collection Activities: Information Collection Renewal; Comment Request; Investment Securities
    Type:Notice
    Citation:86 FR 2491
    Reading Time:about 4 minutes

    The Office of the Comptroller of the Currency (OCC) is seeking public comments on renewing an information collection related to "Investment Securities" under the Paperwork Reduction Act of 1995. This request is part of the OCC’s ongoing effort to reduce paperwork and respondent burden. The OCC plans to gather feedback until March 15, 2021, and is interested in opinions on the utility, accuracy, and burden of the information collected, as well as ideas for improving data collection methods. Comments received will be considered when the OCC submits its request for renewal to the Office of Management and Budget (OMB).

    Simple Explanation

    The Office of the Comptroller of the Currency (OCC) wants people to tell them if the way they collect information about "Investment Securities" is helpful or too complicated. They are asking for ideas on how to make it easier and to see if it takes too long, like nearly 460 hours, to complete this task each year.

  • 2025-00374 — Notification of Inflation Adjustments for Civil Money Penalties
    Type:Rule
    Citation:90 FR 1848
    Reading Time:about 3 minutes

    The Office of the Comptroller of the Currency (OCC) announced adjustments to its maximum civil money penalties to account for inflation. These changes are in line with the Federal Civil Penalties Inflation Adjustment Act of 1990, updated by the Improvements Act of 2015. The updates apply to penalties assessed starting January 10, 2025, for violations occurring on or after November 2, 2015. The OCC used guidance from the Office of Management and Budget to apply the inflation multiplier required for the adjustment.

    Simple Explanation

    The government is making sure the fines people pay when they break certain money rules keep up with rising prices, like when things get more expensive over time. Starting January 2025, they'll use new numbers to figure out how much money people have to pay if they break the rules.

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