OCC Guidelines Establishing Heightened Standards for Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches
OCC Guidelines Establishing Heightened Standards for Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches
OIRA will review the submission again upon finalization.
Inventory as of this Action
Requested
Previously Approved
04/30/2027
36 Months From Approved
04/30/2027
27
0
27
101,952
0
101,952
0
0
0
The OCC issued guidelines, codified in 12 CFR part 30, appendix D, establishing minimum standards for the design and implementation of a risk governance framework for certain insured national banks, insured Federal savings associations, and insured Federal branches of a foreign bank (collectively, bank(s)). The guidelines also established minimum standards for a board of directors in overseeing the frameworkâs design and implementation. The guidelines apply to a covered bank. The term âcovered bankâ means any bank with average total consolidated assets: (i) equal to or greater than $50 billion; (ii) less than $50 billion if that bankâs parent company controls at least one covered bank; or (iii) less than $50 billion if the OCC determines such bankâs operations are highly complex or otherwise present a heightened risk as to warrant the application of the guidelines.
The OCC adopted the guidelines pursuant to section 39 of the Federal Deposit Insurance Act (FDIA), which authorizes the OCC to prescribe operational and managerial standards for insured national banks, insured Federal savings associations, and insured Federal branches of a foreign bank.
This ICR is being filed in connection with an OCC-issued proposed rule that would amend the above-referenced guidelines to increase the average total consolidated assets threshold for applying the guidelines from $50 billion to $700 billion. The proposal would implement this change, in part, by modifying the guidelinesâ definition of the term âcovered bank.â Under this revised definition, the term âcovered bankâ would mean any insured national bank, insured Federal savings association, or insured Federal branch of a foreign bank: (i) with average total consolidated assets equal to or greater than $700 billion; (ii) with average total consolidated assets less than $700 billion if that bankâs parent company controls at least one covered bank; or (iii) with average total consolidated assets less than $700 billion if the OCC determines such bankâs operations are highly complex or otherwise present a heightened risk. The proposed revisions would affect the number of respondents required to comply with the guidelinesâ recordkeeping requirements.
The change in burden is due to a decrease in the total number of respondents following the proposed increase to the average total consolidated assets threshold for applying the guidelines from $50 billion to $700 billion.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
1557-0321 Heightened Standards NPR Supporting Statement Filed with OMB.docx
Consolidated IC: All Appendix D Recordkeeping Requirements