Agency Information Collection Activities: Submission for OMB Review; Comment Request, 56924-56925 [E9-26439]

Download as PDF 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 http:// 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

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[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]


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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