Agency Information Collection Activities; Proposed Information Collection; Comment Request; Leasing, 61050-61051 [2012-24593]

Agencies

• Office of the Comptroller of the Currency
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 77, Number 194 (Friday, October 5, 2012)]
[Notices]
[Pages 61050-61051]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-24593]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities; Proposed Information 
Collection; Comment Request; Leasing

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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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.
    Under the Paperwork Reduction Act of 1995 (the PRA), Federal 
Agencies are required to publish notice in the Federal Register 
concerning each proposed collection of information, including each 
proposed extension of an existing collection of information and to 
allow 60 days for public comment in response to the notice.
    In accordance with the requirements of the Paperwork Reduction Act 
of 1995 (44 U.S.C. chapter 35), 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 its 
information collection titled, ``Leasing.''

DATES: Comments must be received by December 4, 2012.

ADDRESSES: 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 information collection from Mary H. Gottlieb or Johnny 
Vilela, OCC Clearance Officers, (202) 874-5090, Legislative and 
Regulatory Activities Division, Office of the Comptroller of the 
Currency, 250 E Street SW., Washington, DC 20219.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal 
agencies must obtain approval from the Office of Management and Budget 
(OMB) for each collection of information 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. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) 
requires Federal agencies to provide a 60-day notice in the Federal 
Register concerning each proposed collection of information, including 
each proposed extension of an existing collection of information, 
before submitting the collection to OMB for approval. To comply with 
this requirement, the OCC is publishing notice of the proposed 
collection of information set forth in this document.
    With respect to the following collection of information, the OCC 
invites comments on these topics:
    (a) Whether the information collections 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, 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 notice will be shared among 
the agencies. All comments will become a matter of public record. 
Written comments should address the accuracy of the burden estimates 
and ways to minimize burden including the use of automated collection 
techniques or the use of other forms of information technology as well 
as other relevant aspects of the information collection request.

Leasing--12 CFR 23.4(c) and 12 CFR 23.5 (OMB Control Number 1557-
0206)--Extension

    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)
    Under 12 CFR 23.4(c), national banks must liquidate or re-lease 
personal property that is no longer subject to

[[Page 61051]]

lease (off-lease property) within five years from the date of the lease 
expiration. If a national bank wishes to extend the five-year holding 
period for up to an additional five years, it must obtain OCC approval. 
Permitting a national bank to extend the holding period may result in 
cost savings. It also provides flexibility for a national bank that 
experiences unusual or unforeseen conditions which would make it 
imprudent to dispose of the off-lease property prior to the expiration 
of the five year holding period. Section 23.4(c) requires a national 
bank seeking an extension to provide a clearly convincing demonstration 
as to why any additional holding period is necessary. In addition, a 
national 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 national bank 
is not holding the property for speculative reasons and that the value 
of the property is recorded in accordance with 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, as implemented by 12 CFR part 32, or, if 
the lessee is an affiliate of the national 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 national bank enters into both types of leases, its 
records must distinguish between the two types of leases. This 
information is required to establish 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 conducting examinations and 
as an auditing tool to verify compliance with laws 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 laws 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.

    Dated: September 28, 2012.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2012-24593 Filed 10-4-12; 8:45 am]
BILLING CODE 4810-33-P