30-Day FR Notice

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Federal Register / Vol. 90, No. 131 / Friday, July 11, 2025 / Notices

2022–02. ASU 2022–02 requires that for
each period for which a statement of
income is presented, an entity shall
disclose by class of financing receivable,
qualitative and quantitative information
about receivable performance in the 12
months after a modification of a
receivable made to a debtor
experiencing financial difficulty.5
The comment period for the
September 2023 notice ended on
November 27, 2023. The agencies
received six comment letters on the
September 2023 notice, four of which
included objections to the proposed
length of time for which these
modifications would be reported on the
Call Report. These commenters
indicated that the divergence from
GAAP financial statement disclosure
requirements in accordance with ASU
2022–02 would create additional costs,
complexity, and operational challenges
without any substantial corresponding
benefit to either the institutions or the
agencies. The agencies deferred action
on the length of time for which these
modifications would be reported
pending additional review of the
proposal and the commenters’ concerns.
Current Call Report forms collect data
on loan modifications to borrowers
experiencing financial difficulty and the
instructions define the types of loan
modifications to be reported but do not
prescribe a specific duration for
reporting such modifications.
The agencies have completed their
evaluation of the comments received.
The agencies determined that
consistency with the GAAP financial
statement disclosure requirements
under ASU 2022–02 would provide
sufficient supervisory data on loan
modifications due to the debtor’s
financial difficulty. Therefore, the
agencies will revise the Call Report and
FFIEC 002 instructions to indicate that
institutions should only report those
loans that have been modified in the
previous 12 months consistent with
FASB ASC paragraph 310–10–50–42.
The agencies will revise Schedule
RC–C, Loans and Lease Financing
Receivables, Part I, Loans and Leases,
Memoranda item 1, ‘‘Loan modifications
to borrowers experiencing financial
difficulty that are in compliance with
their modified terms (included in
Schedule RC–C, Part I, and not reported
as past due or nonaccrual in Schedule
RC–N, Memorandum item 1),’’ and
Schedule RC–N, Past Due and
Nonaccrual Loans, Leases, and Other
Assets, Memoranda item 1, ‘‘Loan
modifications to borrowers experiencing
financial difficulty included in
5 See

FASB ASC paragraph 310–10–50–42.

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Schedule RC–N, items 1 through 7,
above (and not reported in Schedule
RC–C, Part I, Memorandum item 1),’’ as
well as the FFIEC 002 instructions for
Schedule N, Past Due, Nonaccrual, and
Restructured Loans, as applicable, to
align reporting of loan modifications to
borrowers experiencing financial
difficulty, as described in ASU 2022–02.
Specifically, modified loans reported in
these items should meet the definition
of loan modifications to borrowers
experiencing financial difficulty, as
described in ASU 2022–02, and include
only such modifications which occurred
in the previous 12 months.
III. Timing
The proposed revisions to the Call
Report and FFIEC 002 instructions are
proposed to become effective with the
December 31, 2025, report date.
The agencies invite comment on any
difficulties that institutions would
expect to encounter in implementing
the systems changes necessary to
accommodate the proposed revision to
the Call Report and the FFIEC 002
consistent with this effective date.
IV. Request for Comment
Public comment is requested on all
aspects of this joint notice. Comment is
specifically invited on:
(a) Whether the proposed revisions to
the collections of information that are
the subject of this notice are necessary
for the proper performance of the
agencies’ functions, including whether
the information has practical utility;
(b) The accuracy of the agencies’
estimates of the burden of the
information collections as they are
proposed to be revised, 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
information collections on respondents,
including through the use of automated
collection techniques or other forms of
information technology; and
(e) Estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Comments submitted in response to
this joint notice will be shared among
the agencies.
Dated: July 8, 2025.
Patrick T. Tierney,
Assistant Director, Office of the Comptroller
of the Currency.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
Dated at Washington, DC, on July 8, 2025.

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Federal Deposit Insurance Corporation
Jennifer M. Jones,
Deputy Executive Secretary.
[FR Doc. 2025–12935 Filed 7–10–25; 8:45 am]
BILLING CODE 4810–33–6210–01–6714–01–P

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Consumer Protections for
Depository Institution Sales of
Insurance
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for
comment.
AGENCY:

The OCC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites
comment on a continuing information
collection, as required by the Paperwork
Reduction Act of 1995 (PRA). In
accordance with the requirements of the
PRA, the OCC may not conduct or
sponsor, and the 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 is
soliciting comment concerning the
renewal of its information collection
titled, ‘‘Consumer Protections for
Depository Institution Sales of
Insurance.’’ The OCC also is giving
notice that it has sent the collection to
OMB for review.
DATES: Comments must be received by
August 11, 2025.
ADDRESSES: Commenters are encouraged
to submit comments by email, if
possible. You may submit comments by
any of the following methods:
• Email: prainfo@occ.treas.gov.
• Mail: Chief Counsel’s Office,
Attention: Comment Processing, Office
of the Comptroller of the Currency,
Attention: 1557–0227, 400 7th Street
SW, Suite 3E–218, Washington, DC
20219.
• Hand Delivery/Courier: 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
• Fax: (571) 465–4326.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0220’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov without change,
including any business or personal
information provided, such as name and
address information, email addresses, or
phone numbers. Comments received,
SUMMARY:

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khammond on DSK9W7S144PROD with NOTICES

Federal Register / Vol. 90, No. 131 / Friday, July 11, 2025 / Notices
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.
Written comments and
recommendations for the proposed
information collection should also be
sent within 30 days of publication of
this notice to www.reginfo.gov/public/
do/PRAMain. You can find this
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
You may review comments and other
related materials that pertain to this
information collection following the
close of the 30-day comment period for
this notice by the method set forth in
the next bullet.
• Viewing Comments Electronically:
Go to www.reginfo.gov. Hover over the
‘‘Information Collection Review’’ tab
and click on ‘‘Information Collection
Review’’ from the drop-down menu.
From the ‘‘Currently under Review’’
drop-down menu, select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching OMB control number ‘‘1557–
0220’’ or ‘‘Consumer Protections for
Depository Institution Sales of
Insurance.’’ Upon finding the
appropriate information collection, click
on the related ‘‘ICR Reference Number.’’
On the next screen, select ‘‘View
Supporting Statement and Other
Documents’’ and then click on the link
to any comment listed at the bottom of
the screen.
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, Clearance Officer,
(202) 649–5490, Chief Counsel’s Office,
Office of the Comptroller of the
Currency, 400 7th Street SW,
Washington, DC 20219. If you are deaf,
hard of hearing, or have a speech
disability, please dial 7–1–1 to access
telecommunications relay services.
SUPPLEMENTARY INFORMATION: Under the
PRA (44 U.S.C. 3501 et seq.), Federal
agencies must obtain approval from the
OMB for each collection of information
that they conduct or sponsor.
‘‘Collection of information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) to include agency requests or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. The OCC

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asks the OMB to extend its approval of
the collection in this notice.
Title: Consumer Protections for
Depository Institution Sales of
Insurance.
OMB Control No.: 1557–0220.
Type of Review: Regular.
Affected Public: Businesses or other
for-profit.
Description: This information
collection is required under section 305
of the Gramm-Leach-Bliley Act (GLB
Act), 12 U.S.C. 1831x. Section 305 of the
GLB Act requires the OCC, the Board of
Governors of the Federal Reserve
System, and the Federal Deposit
Insurance Corporation (collectively, the
Agencies) to prescribe joint consumer
protection regulations that apply to
retail sales practices, solicitations,
advertising, and offers of any insurance
product by a depository institution or by
other persons performing these
activities at an office of the institution
or on behalf of the institution (other
covered persons). Section 305 also
requires those performing such
activities to disclose certain information
to consumers (e.g., that insurance
products and annuities are not FDICinsured).
This information collection requires
national banks, Federal savings
associations, and other covered persons
involved in insurance sales, as defined
in 12 CFR 14.20(f), to make two separate
disclosures to consumers. Under 12 CFR
14.40, a national bank, Federal savings
association, or other covered person
must prepare and provide orally and in
writing: (1) certain insurance
disclosures to consumers before the
completion of the initial sale of an
insurance product or annuity to a
consumer and (2) certain credit
disclosures at the time of application for
the extension of credit (if insurance
products or annuities are sold, solicited,
advertised, or offered in connection
with an extension of credit). The
insurance disclosures are required in
advertisements and promotional
material for insurance products or
annuities unless the advertisements and
promotional materials are of a general
nature describing or listing the services
or products offered by the national bank
or Federal savings association.
Consumers use the disclosures to
understand the risks associated with
insurance products and annuities and to
understand that they are not required to
purchase, and may refrain from
purchasing, certain insurance products
or annuities in order to qualify for an
extension of credit.
Estimated Frequency of Response: On
occasion.

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Estimated Number of Respondents:
315.
Total Estimated Burden Hours: 1,575.
Comments: On May 9, 2025, the OCC
published a 60-day notice for this
information collection (90 FR 19788).
No comments were received.
Comments continue to be invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility;
(b) The accuracy of the OCC’s
estimate of the burden of the collection
of information;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
the collection on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and
(e) Estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Patrick T. Tierney,
Assistant Director, Office of the Comptroller
of the Currency.
[FR Doc. 2025–13033 Filed 7–10–25; 8:45 am]
BILLING CODE 4810–33–P

DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Notice of OFAC Sanctions Action
Office of Foreign Assets
Control, Treasury.
ACTION: Notice.
AGENCY:

The U.S. Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing the names
of one individual that has been placed
on OFAC’s Specially Designated
Nationals and Blocked Persons List
(SDN List) based on OFAC’s
determination that one or more
applicable legal criteria were satisfied.
All property and interests in property
subject to U.S. jurisdiction of this
individual is blocked, and U.S. persons
are generally prohibited from engaging
in transactions with him.
DATES: This action was issued on July 8,
2025. See SUPPLEMENTARY INFORMATION
for relevant dates.
FOR FURTHER INFORMATION CONTACT:
OFAC: Associate Director for Global
Targeting, 202–622–2420; Assistant
Director for Sanctions Compliance, 202–
622–2490 or https://ofac.treasury.gov/
contact-ofac.
SUPPLEMENTARY INFORMATION:
SUMMARY:

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