OCC Consultation on Renewal of Information Collection on 12 CFR Part 3
OCC is requesting comments on the renewal of its information collection titled ‘‘Capital Adequacy Standards.’’ The overall capital adequacy standards and minimum capital requirements for national banks and federal savings associations have been set out in 12 Code of Federal Regulations (CFR) Part 3. The information collection covers, among others, disclosure and recordkeeping requirements related to standardized and advanced approaches for banks. OCC is also giving notice that it has submitted the collection to OMB for review.
OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to take this opportunity to comment on a continuing information collection as required by the Paperwork Reduction Act of 1995. OCC regularly monitors and analyzes developments in the banking industry to ensure that the revised capital rules appropriately reflect risks faced by banking organizations and considers many issues before determining whether a change to the revised capital rules is appropriate. Comments continue to be invited on whether the collections of information are necessary for the proper performance of the functions of OCC, including whether the information has practical utility. The accuracy of OCC's estimates of the burden of the information collections, including the validity of the methodology and assumptions used, is another topic on which the comments are invited. Other topics on which comments are invited include ways to enhance the quality, utility, and clarity of the information to be collected and ways to minimize the burden of information collections on respondents, including through the use of automated collection techniques or other forms of information technology.
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Comment Due Date: July 05, 2017
Keywords: Banking, Americas, OCC, Recordkeeping, Reporting Requirements, Capital Adequacy
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