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Federal Register / Vol. 86, No. 13 / Friday, January 22, 2021 / Proposed Rules
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B. Paperwork Reduction Act Analysis Certain provisions of the proposal contain collection of information requirements within the meaning of the Paperwork Reduction Act of 1995 44
U.S.C. 35013521 PRA. In accordance with the requirements of the PRA, agencies may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget OMB control number. The OCC
reviewed the proposed rulemaking and determined that it revises information collection requirements previously approved by OMB under OMB Control No. 15570180. The OCC has submitted the revised information collection to OMB for review under section 3507d of the PRA 44 U.S.C. 3507d and 1320.11 of the OMBs implementing regulations 5 CFR part 1320.
Current Actions. The proposal would revise 12 CFR 21.11 and 12 CFR 163.180
to allow national banks and federal savings associations to submit written requests for exemptions from the requirements of the OCCs SAR
regulations. The burden estimates below are based on the estimated number of banks and savings associations that might request such exemptions each year and the estimated number of hours required to submit such a request.
National banks and federal savings associations may submit written requests for exemptions from the requirements of the OCCs SAR
regulations. 12 CFR 21.11m and 163.180f.
Title of Information Collection:
Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program.
Frequency: Event generated.
Affected Public: Businesses or other for-profit.
Estimated number of respondents: 5.
Total estimated annual burden: 250
hours.
Comments are invited on:
a. Whether the collections of information are necessary for the proper performance of the agencies functions, including whether the information has practical utility;
b. The accuracy or the estimate of the burden of the information collections, including the validity of the methodology and assumptions used;
c. Ways to enhance the quality, utility, and clarity of the information to be collected;
d. Ways to minimize the burden of the information collections on respondents, including through the use of automated
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collection techniques or other forms of information technology; and e. Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information.
All comments will become a matter of public record. Comments on aspects of this document that may affect reporting, recordkeeping, or disclosure requirements and burden estimates should be sent to the addresses listed in the ADDRESSES section of this document.
A copy of the comments may also be submitted to the OMB desk officer for the agencies by mail to U.S. Office of Management and Budget, 725 17th Street NW, 10235, Washington, DC
20503; facsimile to 202 3956974; or email to oira_submission@omb.eop.gov, Attention, Federal Banking Board Desk Officer.
C. Regulatory Flexibility Act Analysis The Regulatory Flexibility Act, 5
U.S.C. 601 et seq., RFA, requires an agency, in connection with a proposed rule, to prepare an Initial Regulatory Flexibility Analysis describing the impact of the rule on small entities defined by the SBA for purposes of the RFA to include commercial banks and savings institutions with total consolidated assets of $600 million or less and trust companies with total consolidated assets of $41.5 million of less or to certify that the proposed rule would not have a significant economic impact on a substantial number of small entities.
As part of our analysis, we consider whether the proposal would have a significant economic impact on a substantial number of small entities, pursuant to the RFA. The OCC currently supervises approximately 745 small entities.13 Because the proposal imposes no new mandates, it would have only de minimis costs to OCC-supervised small entities. Therefore, the OCC certifies that the proposal would not have a significant economic impact on a substantial number of small entities.
D. Riegle Community Development and Regulatory Improvement Act of 1994
Pursuant to section 302a of the Riegle Community Development and Regulatory Improvement Act RCDRIA, in determining the effective date and 13 The
OCC calculated the number of small entities using the SBAs size thresholds for commercial banks and savings institutions, and trust companies, which are $550 million and $38.5
million, respectively. Consistent with the General Principles of Affiliation, 13 CFR 121.103a, the OCC counted the assets of affiliated financial institutions when determining whether to classify a national bank or federal savings association as a small entity.

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administrative compliance requirements for new regulations that impose additional reporting, disclosure, or other requirements on insured depository institutions, each federal banking agency must consider, consistent with principles of safety and soundness and the public interest, any administrative burdens that such regulations would place on insured depository institutions, including small depository institutions, and customers of depository institutions, as well as the benefits of such regulations.14 In addition, section 302b of RCDRIA requires new regulations and amendments to regulations that impose additional reporting, disclosures, or other new requirements on insured depository institutions generally to take effect on the first day of a calendar quarter that begins on or after the date on which the regulations are published in final form.15 The OCC requests comment on any administrative burdens that the proposed rule would place on depository institutions, including small depository institutions, and their customers, and the benefits of the proposed rule that the OCC should consider in determining the effective date and administrative compliance requirements for a final rule E. OCC Unfunded Mandates Reform Act of 1995 Determination Consistent with the Unfunded Mandates Reform Act of 1995 UMRA, 2 U.S.C. 1532, the OCC considers whether the proposed rule includes a Federal mandate that may result in the expenditure by state, local, and tribal governments, in the aggregate, or by the private sector, of $100 million adjusted for inflation currently $157 million in any one year. The proposed rule does not impose new mandates. Therefore, the OCC concludes that implementation of the proposed rule would not result in an expenditure of $157 million or more annually by state, local, and tribal governments, or by the private sector.
List of Subjects 12 CFR Part 21
Crime, Currency, National banks, Reporting and recordkeeping requirements, Security measures.
12 CFR Part 163
Accounting, Administrative practice and procedure, Advertising, Crime, Currency, Investments, Mortgages, Reporting and recordkeeping requirements, Savings associations.
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15 12

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U.S.C. 4802a.
U.S.C. 4802b.

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