OCC Seeks Comments on Renewal of Mandatory Stay Requirements for Qualified Financial Contracts

The Office of the Comptroller of the Currency published a notice (FR Doc 2026-22415) announcing the renewal of its information collection titled "Mandatory Contractual Stay Requirements for Qualified Financial Contracts," OMB Control No. 1557-0339. Comments must be received by January 4, 2027.

The collection applies to covered banks as defined in 12 CFR part 47, including national banks or Federal savings associations with more than $700 billion in assets, subsidiaries of global systemically important bank holding companies, subsidiaries of global systemically important foreign banking organizations, Federal branches or agencies of such foreign banks, and certain subsidiaries of covered banks.

Respondents must submit an analysis addressing factors in 12 CFR 47.6(d), a written legal opinion confirming enforceability of proposed contract provisions, and any additional information the OCC may request. The OCC will use the information to determine whether proposed stay-and-transfer provisions or amendments meet the requirements of 12 U.S.C. 5390(c)(9-10) and 12 U.S.C. 1821(e)(8-10).

The agency estimates 51 respondents will each spend about 140 hours, for a total annual burden of 7,140 hours. Comments are invited on the collection's necessity, burden accuracy, data quality, burden reduction methods, and cost estimates.

Comments may be submitted by email, mail, hand delivery, or fax and must reference "OCC" and control number "1557-0339." All submissions become part of the public record.