81 FR 18940 - Agency Information Collection Activities; Information Collection Renewal; Submission for OMB Review; Leasing
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 81, Issue 63 (April 1, 2016)
Office of the Comptroller of the Currency
Federal Register Volume 81, Issue 63 (April 1, 2016)
| Page Range | 18940-18941 | |
| FR Document | 2016-07351 |
[Federal Register Volume 81, Number 63 (Friday, April 1, 2016)] [Notices] [Pages 18940-18941] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-07351] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities; Information Collection Renewal; Submission for OMB Review; Leasing AGENCY: Office of the Comptroller of the Currency (OCC), 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 (PRA). In accordance with the requirements of the PRA, 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 the renewal of its information collection titled, ``Leasing.'' The OCC also is giving notice that it has sent the collection to OMB for review. DATES: Comments must be received by May 2, 2016. ADDRESSES: Because paper mail in the Washington, DC area and at the OCC is subject to delay, commenters are encouraged to submit comments by email, if possible. Comments may be sent to: Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Attention: 1557-0206, 400 7th Street SW., suite 3E-218, mail stop 9W-11, Washington, DC 20219. In addition, comments may be sent by fax to (571) 465-4326 or by electronic mail to [email protected]. You may personally inspect and photocopy comments at the OCC, 400 7th 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) 649-6700 or, for persons who are deaf or hard of hearing, TTY, (202) 649-5597. Upon arrival, visitors will be required to present valid government-issued photo identification and submit to security screening in order to inspect and photocopy comments. All comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. Additionally, please send a copy of your comments by mail to: OCC Desk Officer, 1557-0206, U.S. Office of Management and Budget, 725 17th Street NW., #10235, Washington, DC 20503, or by email to: [email protected]. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, (202) 649-5490 or, for persons who are deaf or hard of hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Washington, DC 20219. SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval of the following information collection: Title: Leasing. OMB Control No.: 1557-0206. Description: This submission requests the renewal of PRA clearance for an existing regulation and involves no change to the regulation or to the information collection requirements. Under 12 CFR 23.4(c), national banks must liquidate or release property that is no longer subject to 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 may provide flexibility for a national bank that experiences unusual or unforeseen conditions that 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). Under 12 CFR 23.6, 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. 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 is a conforming lease as defined in 12 CFR 23.2(d)(2) and represents a noncancelable obligation of the lessee (i.e., 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 [[Page 18941]] 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: Regular. Affected Public: Individuals; Businesses or other for-profit. Frequency of Response: On occasion. Estimated Number of Respondents: 345. Estimated Total Annual Burden: 678. The OCC published a notice for 60 days of comment on January 20, 2016, 81 FR 3236. No comments were received. Comments continue to be requested on: (a) Whether the information collections are necessary for the proper performance of the OCC's functions, including whether the information has practical utility; (b) The accuracy of the OCC's 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. Dated: March 28, 2016. Mary Hoyle Gottlieb, Regulatory Specialist, Legislative and Regulatory Activities Division. [FR Doc. 2016-07351 Filed 3-31-16; 8:45 am] BILLING CODE 4810-33-P
![18940 Federal Register / Vol. 81, No. 63 / Friday, April 1, 2016 / Notices
depositors, and the public use the In accordance with the requirements OMB Control No.: 1557–0206.
information to make informed of the PRA, the OCC may not conduct Description: This submission requests
investment decisions. or sponsor, and the respondent is not the renewal of PRA clearance for an
Type of Review: Extension of a required to respond to, an information existing regulation and involves no
currently approved collection. collection unless it displays a currently change to the regulation or to the
Affected Public: Individuals; valid Office of Management and Budget information collection requirements.
Businesses or other for-profit. (OMB) control number. Under 12 CFR 23.4(c), national banks
Frequency of Response: On occasion. The OCC is soliciting comment must liquidate or release property that
Estimated Number of Respondents: concerning the renewal of its is no longer subject to lease (off-lease
10. information collection titled, ‘‘Leasing.’’ property) within five years from the date
Estimated Total Annual Burden: 117. The OCC also is giving notice that it has of the lease expiration. If a national
The OCC issued a notice for 60 days sent the collection to OMB for review. bank wishes to extend the five-year
of comment regarding this collection on DATES: Comments must be received by holding period for up to an additional
January 20, 2016, 81 FR 3237. No May 2, 2016. five years, it must obtain OCC approval.
comments were received. Comments ADDRESSES: Because paper mail in the
Permitting a national bank to extend the
continue to be requested on: holding period may result in cost
Washington, DC area and at the OCC is
(a) Whether the information savings. It also may provide flexibility
subject to delay, commenters are
collections are necessary for the proper for a national bank that experiences
encouraged to submit comments by
performance of the OCC’s functions, unusual or unforeseen conditions that
email, if possible. Comments may be
including whether the information has would make it imprudent to dispose of
sent to: Legislative and Regulatory
practical utility; the off-lease property prior to the
Activities Division, Office of the
(b) The accuracy of the OCC’s expiration of the five-year holding
Comptroller of the Currency, Attention:
estimates of the burden of the period. Section 23.4(c) requires a
1557–0206, 400 7th Street SW., suite
information collections, including the national bank seeking an extension to
3E–218, mail stop 9W–11, Washington,
validity of the methodology and provide a clearly convincing
DC 20219. In addition, comments may demonstration as to why any additional
assumptions used; be sent by fax to (571) 465–4326 or by
(c) Ways to enhance the quality, holding period is necessary. In addition,
electronic mail to prainfo@occ.treas.gov. a national bank must value off-lease
utility, and clarity of the information to You may personally inspect and
be collected; property at the lower of current fair
photocopy comments at the OCC, 400 market value or book value promptly
(d) Ways to minimize the burden of 7th Street SW., Washington, DC 20219.
information collections on respondents, after the property comes off-lease. These
For security reasons, the OCC requires requirements enable the OCC to ensure
including through the use of automated that visitors make an appointment to
collection techniques or other forms of that a national bank is not holding the
inspect comments. You may do so by property for speculative reasons and
information technology; and calling (202) 649–6700 or, for persons
(e) Estimates of capital or start up that the value of the property is
who are deaf or hard of hearing, TTY, recorded in accordance with generally
costs and costs of operation,
(202) 649–5597. Upon arrival, visitors accepted accounting principles (GAAP).
maintenance, and purchase of services
will be required to present valid Under 12 CFR 23.6, leases are subject
to provide information.
government-issued photo identification to the lending limits prescribed by 12
Dated: March 28, 2016. and submit to security screening in U.S.C. 84, as implemented by 12 CFR
Mary Hoyle Gottlieb, order to inspect and photocopy part 32, or, if the lessee is an affiliate of
Regulatory Specialist, Office of the comments. the national bank, to the restrictions on
Comptroller of the Currency. All comments received, including transactions with affiliates prescribed by
[FR Doc. 2016–07350 Filed 3–31–16; 8:45 am] attachments and other supporting 12 U.S.C. 371c and 371c–1. Twelve
BILLING CODE 4810–33–P materials, are part of the public record U.S.C. 24 contains two separate
and subject to public disclosure. Do not provisions authorizing a national bank
include any information in your to acquire personal property for
DEPARTMENT OF THE TREASURY comment or supporting materials that purposes of lease financing. Twelve
you consider confidential or U.S.C. 24(Seventh) authorizes leases of
Office of the Comptroller of the inappropriate for public disclosure. personal property (Section 24(Seventh)
Currency Additionally, please send a copy of Leases) if the lease is a conforming lease
your comments by mail to: OCC Desk as defined in 12 CFR 23.2(d)(2) and
Agency Information Collection Officer, 1557–0206, U.S. Office of represents a noncancelable obligation of
Activities; Information Collection Management and Budget, 725 17th the lessee (i.e., the lease serves as the
Renewal; Submission for OMB Review; Street NW., #10235, Washington, DC functional equivalent of a loan). See 12
Leasing 20503, or by email to: oira_submission@ CFR 23.20. A national bank also may
AGENCY: Office of the Comptroller of the omb.eop.gov. acquire personal property for purposes
Currency (OCC), Treasury. FOR FURTHER INFORMATION CONTACT: of lease financing under the authority of
ACTION: Notice and request for Shaquita Merritt, Clearance Officer, 12 U.S.C. 24(Tenth) (CEBA Leases).
comment. (202) 649–5490 or, for persons who are Section 23.5 requires that if a national
deaf or hard of hearing, TTY, (202) 649– bank enters into both types of leases, its
asabaliauskas on DSK3SPTVN1PROD with NOTICES
SUMMARY: The OCC, as part of its 5597, Legislative and Regulatory records must distinguish between the
continuing effort to reduce paperwork Activities Division, Office of the two types of leases. This information is
and respondent burden, invites the Comptroller of the Currency, 400 7th required to establish that the national
general public and other Federal Street SW., Washington, DC 20219. bank is complying with the limitations
agencies to take this opportunity to SUPPLEMENTARY INFORMATION: The OCC and requirements applicable to the two
comment on a continuing information is proposing to extend OMB approval of types of leases.
collection, as required by the Paperwork the following information collection: National banks use the information to
Reduction Act of 1995 (PRA). Title: Leasing. ensure their compliance with applicable
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![Federal Register / Vol. 81, No. 63 / Friday, April 1, 2016 / Notices 18941
Federal banking law and regulations burden, invites the general public and be summarized and/or included in the
and accounting principles. The OCC other Federal agencies to take this request for OMB approval. All
uses the information in conducting opportunity to comment on proposed comments will become a matter of
examinations and as an auditing tool to and/or continuing information public record. Comments are invited on:
verify compliance with laws and collections, as required by the (a) Whether the collection of
regulations. In addition, the OCC uses Paperwork Reduction Act of 1995, information is necessary for the proper
national bank requests for permission to Public Law 104–13 (44 U.S.C. performance of the functions of the
extend the holding period for off-lease 3506(c)(2)(A)). Currently, the IRS is agency, including whether the
property to ensure national bank soliciting comments concerning Form information shall have practical utility;
compliance with relevant laws and 5884, Work Opportunity Credit. (b) the accuracy of the agency’s estimate
regulations and to ensure bank safety DATES: Written comments should be of the burden of the collection of
and soundness. received on or before May 31, 2016 to information; (c) ways to enhance the
Type of Review: Regular. be assured of consideration. quality, utility, and clarity of the
Affected Public: Individuals; ADDRESSES: Direct all written comments
information to be collected; (d) ways to
Businesses or other for-profit. to Tuawana Pinkston, Internal Revenue minimize the burden of the collection of
Frequency of Response: On occasion. Service, Room 6526, 1111 Constitution information on respondents, including
Estimated Number of Respondents: Avenue NW., Washington, DC 20224. through the use of automated collection
345. techniques or other forms of information
Estimated Total Annual Burden: 678. FOR FURTHER INFORMATION CONTACT:
technology; and (e) estimates of capital
The OCC published a notice for 60 Requests for additional information or
or start-up costs and costs of operation,
days of comment on January 20, 2016, copies of the form and instructions
maintenance, and purchase of services
81 FR 3236. No comments were should be directed to Sara Covington,
to provide information.
received. Comments continue to be Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW., Approved: March 29, 2016.
requested on:
Washington, DC 20224 or through the Sara Covington,
(a) Whether the information
Internet at Sara.L.Covington@irs.gov. IRS Tax Analyst.
collections are necessary for the proper
performance of the OCC’s functions, SUPPLEMENTARY INFORMATION: [FR Doc. 2016–07435 Filed 3–31–16; 8:45 am]
including whether the information has Title: Work Opportunity Credit. BILLING CODE 4830–01–P
practical utility; OMB Number: 1545–0219.
(b) The accuracy of the OCC’s Form Number: 5884.
estimates of the burden of the Abstract: Internal Revenue Code DEPARTMENT OF THE TREASURY
information collections, including the section 38(b)(2) allows a credit against
income tax to employers hiring Internal Revenue Service
validity of the methodology and
assumptions used; individuals from certain targeted groups Information Reporting Program
(c) Ways to enhance the quality, such as welfare recipients, etc. The Advisory Committee (IRPAC);
utility, and clarity of the information to employer uses Form 5884 to compute Nominations
be collected; this credit. The IRS uses the information
(d) Ways to minimize the burden of on the form to verify that the correct AGENCY: Internal Revenue Service,
information collections on respondents, amount of credit was claimed. Department of the Treasury.
including through the use of automated Current Actions: Changes were made ACTION: Request for nominations.
collection techniques or other forms of to comply with legislative rulings.
Type of Review: Revision of a SUMMARY: The Internal Revenue Service
information technology; and
currently approved collection. (IRS) requests applications of
(e) Estimates of capital or start up
Affected Public: Individuals or individuals to be considered for
costs and costs of operation,
households, business or other for-profit selection as members of the Information
maintenance, and purchase of services
organizations and farms. Reporting Program Advisory Committee
to provide information.
Estimated Number of Responses: (IRPAC). Nominations should describe
Dated: March 28, 2016. 11,677. and document the proposed member’s
Mary Hoyle Gottlieb, Estimated Time per Respondent: 6 qualifications for IRPAC membership,
Regulatory Specialist, Legislative and hours, 39 minutes. including the applicant’s past or current
Regulatory Activities Division. Estimated Total Annual Burden affiliations and dealings with the
[FR Doc. 2016–07351 Filed 3–31–16; 8:45 am] Hours: 77,653. particular tax segment or segments of
BILLING CODE 4810–33–P The following paragraph applies to all the community that he or she wishes to
of the collections of information covered represent on the committee. In addition
by this notice: to nominations from interested
DEPARTMENT OF THE TREASURY An agency may not conduct or individuals, the IRS is soliciting
sponsor, and a person is not required to nominations from professional and
Internal Revenue Service respond to, a collection of information public interest groups that wish to have
unless the collection of information representatives on the IRPAC. IRPAC
Proposed Collection; Comment
displays a valid OMB control number. will be comprised of 19 members. There
Request for Form 5884
Books or records relating to a collection are eight positions open for calendar
asabaliauskas on DSK3SPTVN1PROD with NOTICES
AGENCY: Internal Revenue Service (IRS), of information must be retained as long year 2017. It is important that IRPAC
Treasury. as their contents may become material continue to represent a diverse taxpayer
ACTION: Notice and request for in the administration of any internal and stakeholder base. Accordingly, to
comments. revenue law. Generally, tax returns and maintain membership diversity,
tax return information are confidential, selection is based on the applicant’s
SUMMARY: The Department of the as required by 26 U.S.C. 6103. qualifications as well as the taxpayer or
Treasury, as part of its continuing effort Request for comments: Comments stakeholder base the applicant
to reduce paperwork and respondent submitted in response to this notice will represents.
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Document Created: 2016-04-06 00:08:33
Document Modified: 2016-04-06 00:08:33
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice and request for comment. | |
| Dates | Comments must be received by May 2, 2016. | |
| Contact | Shaquita Merritt, Clearance Officer, (202) 649-5490 or, for persons who are deaf or hard of hearing, TTY, (202) 649-5597, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 400 7th Street SW., Washington, DC 20219. | |
| FR Citation | 81 FR 18940 |
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