Agency Information Collection Activities: Submission to OMB for Review; Comment Request, 59588-59589 [E6-16665]
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Federal Register / Vol. 71, No. 195 / Tuesday, October 10, 2006 / Notices
20219. In addition, comments may be
sent by fax to (202) 874–4448, or by
electronic mail to
regs.comments@occ.treas.gov. You can
inspect and photocopy the comments at
the OCC’s Public Information Room, 250
E Street, SW., Washington, DC 20219.
You can make an appointment to
inspect the comments by calling (202)
874–5043.
Additionally, you should send a copy
of your comments to OCC Desk Officer,
1557–0106, by mail to U.S. Office of
Management and Budget, 725, 17th
Street, NW., #10235, Washington, DC
20503, or by fax to (202) 395–6974.
FOR FURTHER INFORMATION CONTACT: You
can request additional information or a
copy of the collection from Mary
Gottlieb, OCC Clearance Officer, or
Camille Dickerson, (202) 874–5090,
Legislative and Regulatory Activities
Division, Office of the Comptroller of
the Currency, 250 E Street, SW.,
Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC
is proposing to extend OMB approval of
the following information collection:
Title: (MA) Securities Exchange Act
Disclosure Rules (12 CFR Part 11).
OMB Number: 1557–0106.
Description: This submission covers
an existing regulation and involves no
change to the regulation or to the
information collection requirements.
The OCC requests only that OMB
approve its revised estimates.
The Securities and Exchange
Commission (SEC) is required by statute
to collect, through regulation, from any
firm that is required to register its stock
with the SEC certain information and
documents. 12 U.S.C. 78m(a)(1). The
OCC is required by statute to apply
similar regulations to any national bank
similarly required to be registered (those
with a class of equity securities held by
500 or more shareholders). 15 U.S.C.
781(i). Part 11 ensures that ‘‘publicly
owned national banks’’ provide
adequate information about their
operation to current and potential
shareholders, depositors, and to the
public. The OCC reviews the
information to ensure that it complies
with Federal law and makes public all
information required to be filed under
these rules.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals;
Businesses or other for-profit.
Estimated Number of Respondents:
58.
Estimated Total Annual Responses:
354.
Frequency of Response: On occasion.
Estimated Total Annual Burden:
2,205.5
VerDate Aug<31>2005
16:42 Oct 06, 2006
Jkt 211001
Comments continue to be invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information has practical utility;
(b) The accuracy of the agency’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 startup costs
and costs of operation, maintenance,
and purchase of services to provide
information.
Dated: October 4, 2006.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory
Activities Division.
[FR Doc. 06–8571 Filed 10–6–06; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Submission to OMB for
Review; Comment Request
Office of the Comptroller of the
Currency, Treasury.
ACTION: Notice and request for comment.
AGENCY:
SUMMARY: The OCC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other Federal
agencies to take this opportunity to
comment on a continuing information
collection, as required by the Paperwork
Reduction Act of 1995. An agency may
not conduct or sponsor, and a
respondent is not required to respond
to, an information collection unless it
displays a currently valid OMB control
number. The OCC is soliciting comment
concerning its information collection
titled, ‘‘Leasing—12 CFR Part 23.’’ The
OCC also gives notice that this
collection of information has been sent
to OMB for review.
DATES: Comments must be received by
November 9, 2006.
ADDRESSES: Communications Division,
Office of the Comptroller of the
Currency, Public Information Room,
Mailstop 1–5, Attention: 1557–0206,
250 E Street, SW., Washington, DC
20219. In addition, comments may be
sent by fax to (202) 874–4448, or by
PO 00000
Frm 00163
Fmt 4703
Sfmt 4703
electronic mail to
regs.comments@occ.treas.gov. You can
inspect and photocopy the comments at
the OCC’s Public Information Room, 250
E Street, SW., Washington, DC 20219.
You can make an appointment to
inspect the comments by calling (202)
874–5043.
Additionally, you should send a copy
of your comments to OCC Desk Officer,
1557–0206, by mail to U.S. Office of
Management and Budget, 725, 17th
Street, NW., #10235, Washington, DC
20503, or by fax to (202) 395–6974.
FOR FURTHER INFORMATION CONTACT: You
can request additional information or a
copy of the collection from Mary
Gottlieb, OCC Clearance Officer, or
Camille Dickerson, (202) 874–5090,
Legislative and Regulatory Activities
Division, Office of the Comptroller of
the Currency, 250 E Street, SW.,
Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC
is proposing to extend OMB approval of
the following information collection:
Title: Leasing (12 CFR Part 23).
OMB Number: 1557–0206.
Description: This submission covers
an existing regulation and involves no
change to the regulation or to the
information collection requirements.
The OCC requests only that OMB extend
the expiration date.
Information Collection Requirements
found in 12 CFR Part 23
12 CFR 23.4(c)—National banks must
liquidate or re-lease personal property
that is no longer subject to lease (offlease property) within five years from
the lease expiration. If a bank wishes to
extend the five-year holding period for
up to an additional five years, it must
obtain OCC approval. Permitting a bank
to extend the holding period confers a
benefit on national banks and may
result in cost savings. It also provides
flexibility for a bank that experiences
unusual or unforeseen conditions under
which it would be imprudent to dispose
of the off-lease property. Section 23.4(c)
requires a bank to provide a clearly
convincing demonstration as to why an
additional holding period is necessary.
In addition, a bank must value off-lease
property at the lower of current fair
market value or book value promptly
after the property comes off-lease. These
requirements enable the OCC to ensure
that a bank is not holding the property
for speculative reasons and that the
value of the property is recorded in
accordance with generally accepted
accounting procedures (GAAP).
Section 23.5—Twelve U.S.C. 24
contains two separate provisions
authorizing a national bank to acquire
E:\FR\FM\10OCN1.SGM
10OCN1
Federal Register / Vol. 71, No. 195 / Tuesday, October 10, 2006 / Notices
jlentini on PROD1PC65 with NOTICES
personal property for purposes of lease
financing. Twelve U.S.C. 24(Seventh)
applies if the lease serves as the
functional equivalent of a loan. Such
leases are subject to the lending limits
prescribed by 12 U.S.C. 84 or, if the
lessee is an affiliate of the bank, to the
restrictions on transactions with
affiliates prescribed by 12 U.S.C. 371c
and 371c–1. A national bank may also
acquire personal property for purposes
of lease financing under the authority of
12 U.S.C. 24(Tenth) (CEBA Leases). This
provision authorizes a national bank to
invest in CEBA Leases up to 10 percent
of its assets. Section 23.5 requires that
if a bank enters into both types of leases,
its records must distinguish between the
two types of leases. This information is
required to evidence compliance with
the statutory limitation on the aggregate
VerDate Aug<31>2005
16:42 Oct 06, 2006
Jkt 211001
amount a national bank may invest in
CEBA Leases.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals;
Businesses or other for-profit.
Estimated Number of Respondents:
370.
Estimated Total Annual Responses:
370.
Frequency of Response: On occasion.
Estimated Total Annual Burden: 685.
Comments continue to be invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information has practical utility;
(b) The accuracy of the agency’s
estimate of the burden of the collection
of information;
PO 00000
Frm 00164
Fmt 4703
Sfmt 4703
59589
(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 startup costs
and costs of operation, maintenance,
and purchase of services to provide
information.
Dated: October 4, 2006.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory
Activities Division.
[FR Doc. E6–16665 Filed 10–6–06; 8:45 am]
BILLING CODE 4810–33–P
E:\FR\FM\10OCN1.SGM
10OCN1
]]>Agencies
[Federal Register Volume 71, Number 195 (Tuesday, October 10, 2006)]
[Notices]
[Pages 59588-59589]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-16665]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Submission to OMB for
Review; Comment Request
AGENCY: Office of the Comptroller of the Currency, Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to take this opportunity to comment on a continuing
information collection, as required by the Paperwork Reduction Act of
1995. An agency may not conduct or sponsor, and a respondent is not
required to respond to, an information collection unless it displays a
currently valid OMB control number. The OCC is soliciting comment
concerning its information collection titled, ``Leasing--12 CFR Part
23.'' The OCC also gives notice that this collection of information has
been sent to OMB for review.
DATES: Comments must be received by November 9, 2006.
ADDRESSES: Communications Division, Office of the Comptroller of the
Currency, Public Information Room, Mailstop 1-5, Attention: 1557-0206,
250 E Street, SW., Washington, DC 20219. In addition, comments may be
sent by fax to (202) 874-4448, or by electronic mail to
regs.comments@occ.treas.gov. You can inspect and photocopy the comments
at the OCC's Public Information Room, 250 E Street, SW., Washington, DC
20219. You can make an appointment to inspect the comments by calling
(202) 874-5043.
Additionally, you should send a copy of your comments to OCC Desk
Officer, 1557-0206, by mail to U.S. Office of Management and Budget,
725, 17th Street, NW., 10235, Washington, DC 20503, or by fax
to (202) 395-6974.
FOR FURTHER INFORMATION CONTACT: You can request additional information
or a copy of the collection from Mary Gottlieb, OCC Clearance Officer,
or Camille Dickerson, (202) 874-5090, Legislative and Regulatory
Activities Division, Office of the Comptroller of the Currency, 250 E
Street, SW., Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval
of the following information collection:
Title: Leasing (12 CFR Part 23).
OMB Number: 1557-0206.
Description: This submission covers an existing regulation and
involves no change to the regulation or to the information collection
requirements. The OCC requests only that OMB extend the expiration
date.
Information Collection Requirements found in 12 CFR Part 23
12 CFR 23.4(c)--National banks must liquidate or re-lease personal
property that is no longer subject to lease (off-lease property) within
five years from the lease expiration. If a bank wishes to extend the
five-year holding period for up to an additional five years, it must
obtain OCC approval. Permitting a bank to extend the holding period
confers a benefit on national banks and may result in cost savings. It
also provides flexibility for a bank that experiences unusual or
unforeseen conditions under which it would be imprudent to dispose of
the off-lease property. Section 23.4(c) requires a bank to provide a
clearly convincing demonstration as to why an additional holding period
is necessary. In addition, a bank must value off-lease property at the
lower of current fair market value or book value promptly after the
property comes off-lease. These requirements enable the OCC to ensure
that a bank is not holding the property for speculative reasons and
that the value of the property is recorded in accordance with generally
accepted accounting procedures (GAAP).
Section 23.5--Twelve U.S.C. 24 contains two separate provisions
authorizing a national bank to acquire
[[Page 59589]]
personal property for purposes of lease financing. Twelve U.S.C.
24(Seventh) applies if the lease serves as the functional equivalent of
a loan. Such leases are subject to the lending limits prescribed by 12
U.S.C. 84 or, if the lessee is an affiliate of the bank, to the
restrictions on transactions with affiliates prescribed by 12 U.S.C.
371c and 371c-1. A national bank may also acquire personal property for
purposes of lease financing under the authority of 12 U.S.C. 24(Tenth)
(CEBA Leases). This provision authorizes a national bank to invest in
CEBA Leases up to 10 percent of its assets. Section 23.5 requires that
if a bank enters into both types of leases, its records must
distinguish between the two types of leases. This information is
required to evidence compliance with the statutory limitation on the
aggregate amount a national bank may invest in CEBA Leases.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals; Businesses or other for-profit.
Estimated Number of Respondents: 370.
Estimated Total Annual Responses: 370.
Frequency of Response: On occasion.
Estimated Total Annual Burden: 685.
Comments continue to be invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information has practical utility;
(b) The accuracy of the agency'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 startup costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: October 4, 2006.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. E6-16665 Filed 10-6-06; 8:45 am]
BILLING CODE 4810-33-P
