Agency Information Collection Activities: Submission for OMB Review; Comment Request, 56924-56925 [E9-26439]
Download as PDF
<![CDATA[
mstockstill on DSKH9S0YB1PROD with NOTICES
56924
Federal Register / Vol. 74, No. 211 / Tuesday, November 3, 2009 / Notices
• Designates check-off boxes on the
relevant forms with the opt out notice;
• Includes a reply form with the opt
out notice;
• Provides electronic means to opt
out; or
• Provides a toll-free number to opt
out.
§§ 40.10(a)(2) and 40.10(c)—
Consumers must take affirmative
actions to exercise their rights to prevent
financial institutions from sharing their
information with nonaffiliated parties–
• Opt out—Consumers may direct
that the bank not disclose nonpublic
personal information about them to a
nonaffiliated third party, other than
permitted by §§ 40.13–40.15.
• Partial opt out—Consumer may also
exercise partial opt out rights by
selecting certain nonpublic personal
information or certain nonaffiliated
third parties with respect to which the
consumer wishes to opt out.
§§ 40.7(f) and (g)—Reporting
(consumer)—Consumers may exercise
continuing right to opt out—Consumer
may opt out at any time—A consumer
may exercise the right to opt out at any
time. A consumer’s direction to opt out
is effective until the consumer revokes
it in writing or, if the consumer agrees,
electronically. When a customer
relationship terminates, the customer’s
opt out direction continues to apply.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profit; individuals.
Estimated Annual Number of
Institution Respondents: Initial Notice,
11; Annual Notice and Change in
Terms, 1,625; Opt-out Notice, 813.
Estimated Average Time Per Response
Per Institution: Initial Notice, 80 hours;
Annual Notice and Change in Terms, 8
hours; Opt-out Notice, 8 hours.
Estimated Subtotal Annual Burden
Hours for Institutions: 20,384 hours.
Estimated Annual Number of
Consumer Respondents: 15,028,802.
Estimated Average Time Per
Consumer Response: 0.25 hours.
Estimated Subtotal Annual Burden
Hours for Consumers: 3,757,200.5
hours.
Estimated Total Annual Burden
Hours: 3,777,584.5 hours.
Comments submitted in response to
this notice will be summarized and
included in the request for OMB
approval. All comments will become a
matter of public record. Comments are
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;
VerDate Nov<24>2008
18:15 Nov 02, 2009
Jkt 220001
(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 start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Dated: October 27, 2009.
Michele Meyer,
Assistant Director, Legislative and Regulatory
Activities Division.
[FR Doc. E9–26441 Filed 11–2–09; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Submission for OMB
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 Office of
Management and Budget (OMB) control
number. The OCC is soliciting comment
concerning its information collection
titled, ‘‘Leasing.’’ The OCC also gives
notice that it has sent the information
collection to OMB for review.
DATES: Comments must be received by
December 3, 2009.
ADDRESSES: You should direct your
comments to:
Communications Division, Office of
the Comptroller of the Currency, Public
Information Room, Mailstop 2–3,
Attention: 1557–0206, 250 E Street, SW.,
Washington, DC 20219. In addition,
comments may be sent by fax to (202)
874–5274, or by electronic mail to
regs.comments@occ.treas.gov. You can
inspect and photocopy the comments at
the OCC, 250 E Street, SW., Washington,
DC 20219. For security reasons, the OCC
PO 00000
Frm 00133
Fmt 4703
Sfmt 4703
requires that visitors make an
appointment to inspect comments. You
may do so by calling (202) 874–4700.
Upon arrival, visitors will be required to
present valid government-issued photo
identification and to submit to security
screening in order to inspect and
photocopy comments.
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 H.
Gottlieb, OCC Clearance Officer, (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 Control No.: 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)
Under 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 date of 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 may result in
cost savings to national banks. It also
provides flexibility for a bank that
experiences unusual or unforeseen
conditions that would make it
imprudent to dispose of the off-lease
property before the expiration date of
the five-year period. Section 23.4(c)
requires a bank seeking an extension 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
E:\FR\FM\03NON1.SGM
03NON1
Federal Register / Vol. 74, No. 211 / Tuesday, November 3, 2009 / Notices
mstockstill on DSKH9S0YB1PROD with NOTICES
generally accepted accounting
principles (GAAP).
Section 23.5
Under 12 CFR 23.5, 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. See 12 CFR
23.6. Twelve U.S.C. 24 contains two
separate provisions authorizing a
national bank to acquire personal
property for purposes of lease financing.
Twelve U.S.C. 24(Seventh) authorizes
leases of personal property (Section
24(Seventh) Leases) if the lease serves as
the functional equivalent of a loan. See
12 CFR 23.20. A national bank also may
acquire personal property for purposes
of lease financing under the authority of
12 U.S.C. 24(Tenth) (CEBA Leases).
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 demonstrate that the
national bank is complying with the
limitations and requirements applicable
to the two types of leases.
National banks use the information to
ensure their compliance with applicable
Federal banking law and regulations
and accounting principles. The OCC
uses the information in the conduct of
bank examinations and as an audit tool
to verify bank compliance with law and
regulations. In addition, the OCC uses
national bank requests for permission to
extend the holding period for off-lease
property to ensure national bank
compliance with relevant law and
regulations and to ensure bank safety
and soundness.
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.
The OCC issued a 60-day Federal
Register notice on August 14, 2009. 74
FR 41187. 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
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;
VerDate Nov<24>2008
18:15 Nov 02, 2009
Jkt 220001
(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.
Dated: October 27, 2009.
Michele Meyer,
Assistant Director, Legislative and Regulatory
Activities Division.
[FR Doc. E9–26439 Filed 11–2–09; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Community Development Financial
Institutions Fund: Open Meeting of the
Community Development Advisory
Board
AGENCY: Community Development
Financial Institutions Fund, Department
of the Treasury.
ACTION: Notice of open meeting.
SUMMARY: This notice announces the
next meeting of the Community
Development Advisory Board (the
Advisory Board), which provides advice
to the Director of the Community
Development Financial Institutions
Fund (the CDFI Fund).
DATES: The next meeting of the
Advisory Board will be held from 9 a.m.
to 5 p.m. Eastern Time on Monday,
November 16, 2009.
ADDRESSES: The Advisory Board
meeting will be held in the Cash Room
at the U.S. Department of the Treasury
located at 1500 Pennsylvania Avenue,
NW., Washington, DC 20005.
FOR FURTHER INFORMATION, CONTACT: The
CDFI Fund’s Office of Legislative and
External Affairs, 601 Thirteenth Street,
NW., Suite 200 South, Washington, DC
20005, (202) 622–8042 (this is not a tollfree number). Other information
regarding the CDFI Fund and its
programs may be obtained through the
Fund’s Web site at https://
www.cdfifund.gov.
SUPPLEMENTARY INFORMATION: Section
104(d) of the Community Development
Banking and Financial Institutions Act
of 1994 (12 U.S.C. 4703(d)) established
the Advisory Board. The charter for the
Advisory Board has been filed in
accordance with the Federal Advisory
Committee Act, as amended (5 U.S.C.
App.), and with the approval of the
Secretary of the Treasury.
The function of the Advisory Board is
to advise the Director of the Fund (who
has been delegated the authority to
PO 00000
Frm 00134
Fmt 4703
Sfmt 4703
56925
administer the Fund) on the policies
regarding the activities of the Fund. The
Advisory Board shall not advise the
Fund on the granting or denial of any
particular application for monetary or
non-monetary awards. The Advisory
Board shall meet at least annually.
It has been determined that this
document is not a major rule as defined
in Executive Order 12291 and therefore
regulatory impact analysis is not
required. In addition, this document
does not constitute a rule subject to the
Regulatory Flexibility Act (5 U.S.C.
Chapter 6).
The next meeting of the Advisory
Board, all of which will be open to the
public, will be held in the Cash Room
at the U.S. Department of the Treasury
located at 1500 Pennsylvania Avenue,
NW., Washington, DC 20005, from 9
a.m. to 5 p.m. Eastern Time on Monday,
November 16, 2009. The room will
accommodate up to 50 members of the
public. Seats are available to members
of the public on a first-come, first-served
basis.
Participation in the discussions at the
meeting will be limited to Advisory
Board members, Department of the
Treasury staff, and certain invited
guests. Because the meeting will be held
in a secured Federal building, members
of the public who desire to attend the
meeting must contact the CDFI Fund’s
Office of Legislative and External Affairs
by 5 p.m. Eastern Time on Wednesday,
November 11, 2009 by e-mail at
AdvisoryBoard@cdfi.treas.gov, to inform
the CDFI Fund of your desire to attend
the meeting and to provide the
following information which is required
to facilitate your entry to the facility:
Name as it appears on a government
issued identification; date of birth; and
social security number.
Anyone who would like to have the
Advisory Board consider a written
statement must submit it to the CDFI
Fund’s Office of Legislative and
External Affairs by 5 p.m. Eastern Time
on Wednesday, November 11, 2009 by
mail to 601 Thirteenth Street, NW.,
Suite 200 South, Washington, DC 20005,
or by e-mail at
AdvisoryBoard@cdfi.treas.gov.
The Advisory Board meeting will
include a report from the Director on the
activities of the Fund since the last
Advisory Board meeting, as well as
policy, programmatic, fiscal and
legislative initiatives for the years 2009
and 2010.
Authority: 12 U.S.C. 4703; Chapter X, Pub.
L. 104–19, 109 Stat. 237.
E:\FR\FM\03NON1.SGM
03NON1
]]>Agencies
[Federal Register Volume 74, Number 211 (Tuesday, November 3, 2009)]
[Notices]
[Pages 56924-56925]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-26439]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Submission for OMB
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 Office of Management and Budget (OMB) control number.
The OCC is soliciting comment concerning its information collection
titled, ``Leasing.'' The OCC also gives notice that it has sent the
information collection to OMB for review.
DATES: Comments must be received by December 3, 2009.
ADDRESSES: You should direct your comments to:
Communications Division, Office of the Comptroller of the Currency,
Public Information Room, Mailstop 2-3, Attention: 1557-0206, 250 E
Street, SW., Washington, DC 20219. In addition, comments may be sent by
fax to (202) 874-5274, or by electronic mail to
regs.comments@occ.treas.gov. You can inspect and photocopy the comments
at the OCC, 250 E Street, SW., Washington, DC 20219. For security
reasons, the OCC requires that visitors make an appointment to inspect
comments. You may do so by calling (202) 874-4700. Upon arrival,
visitors will be required to present valid government-issued photo
identification and to submit to security screening in order to inspect
and photocopy comments.
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 H. Gottlieb, OCC Clearance
Officer, (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 Control No.: 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)
Under 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 date of 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 may result in cost savings to national
banks. It also provides flexibility for a bank that experiences unusual
or unforeseen conditions that would make it imprudent to dispose of the
off-lease property before the expiration date of the five-year period.
Section 23.4(c) requires a bank seeking an extension 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
[[Page 56925]]
generally accepted accounting principles (GAAP).
Section 23.5
Under 12 CFR 23.5, 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. See 12 CFR 23.6. Twelve U.S.C. 24 contains
two separate provisions authorizing a national bank to acquire personal
property for purposes of lease financing. Twelve U.S.C. 24(Seventh)
authorizes leases of personal property (Section 24(Seventh) Leases) if
the lease serves as the functional equivalent of a loan. See 12 CFR
23.20. A national bank also may acquire personal property for purposes
of lease financing under the authority of 12 U.S.C. 24(Tenth) (CEBA
Leases). 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 demonstrate that the national bank is
complying with the limitations and requirements applicable to the two
types of leases.
National banks use the information to ensure their compliance with
applicable Federal banking law and regulations and accounting
principles. The OCC uses the information in the conduct of bank
examinations and as an audit tool to verify bank compliance with law
and regulations. In addition, the OCC uses national bank requests for
permission to extend the holding period for off-lease property to
ensure national bank compliance with relevant law and regulations and
to ensure bank safety and soundness.
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.
The OCC issued a 60-day Federal Register notice on August 14, 2009.
74 FR 41187. 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 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 start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: October 27, 2009.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. E9-26439 Filed 11-2-09; 8:45 am]
BILLING CODE 4810-33-P
