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Proposed Rules
Federal Register Vol. 86, No. 21
Wednesday, February 3, 2021

This section of the FEDERAL REGISTER
contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules.

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency 12 CFR Part 7
Docket No. OCC20200045
RIN 1557AF07

National Bank and Federal Savings Association Premises Office of the Comptroller of the Currency OCC, Treasury.
ACTION: Notice of proposed rulemaking with request for public comment.
AGENCY:

The OCC is inviting comment on a proposed rule that would modify the requirements for national bank and Federal savings association premises.
DATES: Comments must be received by March 22, 2021.
ADDRESSES: You may submit comments to the OCC by any of the methods set forth below. Commenters are encouraged to submit comments through the Federal eRulemaking Portal, if possible. Please use the title National Bank and Federal Savings Association Premises to facilitate the organization and distribution of the comments. You may submit comments by any of the following methods:
Federal eRulemaking Portal Regulations.gov: Go to www.regulations.gov. Enter Docket ID
OCC20200045 in the Search Box and click Search. Click on Comment Now to submit public comments.
Click on the Help tab on the Regulations.gov home page to get information on using Regulations.gov, including instructions for submitting public comments.
Mail: Chief Counsels Office, Attention: Comment Processing, Office of the Comptroller of the Currency, 400
7th Street SW, Suite 3E218, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW, Suite 3E218, Washington, DC 20219.

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Instructions: You must include OCC as the agency name and Docket ID OCC20200045 in your comment.
Instructions: You must include OCC as the agency name and Docket ID OCC20200045 in your comment.
In general, the OCC will enter all comments received into the docket and publish the comments on the Regulations.gov website without change, including any business or personal information provided such as name and address information, email addresses, or phone numbers.
Comments, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure.
You may review comments and other related materials that pertain to this rulemaking action by the following methods:
Viewing Comments Electronically:
Go to www.regulations.gov. Enter Docket ID OCC20200045 in the Search box and click Search. Click on Open Docket Folder on the right side of the screen. Comments and supporting materials can be viewed and filtered by clicking on View all documents and comments in this docket and then using the filtering tools on the left side of the screen.
Click on the Help tab on the Regulations.gov home page to get information on using Regulations.gov.
The docket may be viewed after the close of the comment period in the same manner as during the comment period.
FOR FURTHER INFORMATION CONTACT:
Matthew Tynan, Counsel; Sarah Turney, Counsel; Henry Barkhausen, Counsel;
Chief Counsels Office 202 6495490;
Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219.
SUPPLEMENTARY INFORMATION:
I. Introduction The Office of the Comptroller of the Currency OCC is issuing a notice of proposed rulemaking to amend its regulations on national bank or Federal savings association ownership of real property. The OCC also proposes to consolidate 12 CFR 7.3001 on sharing national bank or Federal savings association space and employees with
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the rule covering ownership of property.
The OCC proposes to continue to cover the national bank and Federal savings association charters under the same regulation, but, because different statutory regimes cover each charter, the OCC seeks comment on whether to apply different requirements to national banks and Federal savings associations.
II. Background The OCC periodically reviews its regulations to eliminate outdated or otherwise unnecessary regulatory provisions and, where possible, to clarify or revise requirements imposed on national banks and Federal savings associations. As part of the periodic review that resulted in recent amendments to 12 CFR part 7, which take effect on April 1, 2021, the OCC
determined that it would propose revisions to the rules governing national bank and Federal savings association premises currently codified at 12 CFR
7.1000, which the recent amendments to 12 CFR part 7 redesignated as to 12 CFR
7.1024.1 The OCC determined that the regulation may need significant revision and that such revisions may involve significant policy considerations. To consider the matter more fully and ensure the greatest benefit from public comment, the OCC chose to propose revisions to redesignated 12 CFR 7.1024
separately from the revisions to 12 CFR
part 7 finalized in 2020.2 Because of the redesignation of 12 CFR 7.1000 as 12
CFR 7.1024, this proposed rule refers to 12 CFR 7.1024.3
National bank ownership of real estate is governed by 12 U.S.C. 29, an original component of the National Bank Act.
Twelve U.S.C. 29 generally prohibits national banks from purchasing, holding, or conveying real estate except for a list of four exclusive exceptions.
The first such purpose covers the authority of a national bank to hold real property such as shall be necessary for its accommodation in the transaction of its business. 4 As stated by the 1 85 FR 40794 July 7, 2020. 12 CFR 7.1024 was previously codified at 12 CFR 7.1000.
2 85 FR 83686 December 22, 2020.
3 Because the redesignation of 12 CFR 7.1000 as 12 CFR 7.1024 takes effect on April 1, 2021, the regulatory text of this proposed rule must reflect this as an addition rather than an amendment. The final rule will reflect the change as an amendment.
4 The other three purposes all relate to the national bank authority to own property taken for
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