81 FR 3236 - Agency Information Collection Activities; Information Collection Renewal; Comment Request; Leasing

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency

Federal Register Volume 81, Issue 12 (January 20, 2016)

Page Range		3236-3237
FR Document		2016-00884

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.''

Federal Register, Volume 81 Issue 12 (Wednesday, January 20, 2016)

[Federal Register Volume 81, Number 12 (Wednesday, January 20, 2016)]
[Notices]
[Pages 3236-3237]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-00884]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities; Information Collection 
Renewal; 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 (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.''

DATES: Comments must be received by March 21, 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.

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: Under the PRA (44 U.S.C. 3501-3520), Federal 
agencies must obtain approval from the 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 collection of information set forth 
in this document.
    The OCC is proposing to extend OMB approval of the following 
information collection:
    Title: Leasing.
    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 approve its burden 
estimates and extend the expiration date.
    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

[[Page 3237]]

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 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.
    Estimated Number of Respondents: 345.
    Estimated Total Annual Responses: 345.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 678.
    Comments submitted in response to this notice will be summarized 
and included in the submission to OMB. Comments are 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: January 13, 2016.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2016-00884 Filed 1-19-16; 8:45 am]
 BILLING CODE 4810-33-P

Federal Register / Vol. 81, No. 12 / Wednesday, January 20, 2016 / Notices 3237

period. Section 23.4(c) requires a Comments submitted in response to Securities of Federal Savings
national bank seeking an extension to this notice will be summarized and Associations.’’
provide a clearly convincing included in the submission to OMB. DATES: Comments must be received by
demonstration as to why any additional Comments are requested on: March 21, 2016.
holding period is necessary. In addition, (a) Whether the information
ADDRESSES: Because paper mail in the
a national bank must value off-lease collections are necessary for the proper
Washington, DC area and at the OCC is
property at the lower of current fair performance of the OCC’s functions, subject to delay, commenters are
market value or book value promptly including whether the information has encouraged to submit comments by
after the property comes off-lease. These practical utility; email, if possible. Comments may be
requirements enable the OCC to ensure (b) The accuracy of the OCC’s
sent to: Legislative and Regulatory
that a national bank is not holding the estimates of the burden of the Activities Division, Office of the
property for speculative reasons and information collections, including the Comptroller of the Currency, Attention:
that the value of the property is validity of the methodology and 1557–0106, 400 7th Street SW., Suite
recorded in accordance with generally assumptions used; 3E–218, mail stop 9W–11, Washington,
accepted accounting principles (GAAP). (c) Ways to enhance the quality, DC 20219. In addition, comments may
Under 12 CFR 23.6, leases are subject utility, and clarity of the information to be sent by fax to (571) 465–4326 or by
to the lending limits prescribed by 12 be collected; electronic mail to prainfo@occ.treas.gov.
U.S.C. 84, as implemented by 12 CFR (d) Ways to minimize the burden of
You may personally inspect and
part 32, or, if the lessee is an affiliate of information collections on respondents, photocopy comments at the OCC, 400
the national bank, to the restrictions on including through the use of automated 7th Street SW., Washington, DC 20219.
transactions with affiliates prescribed by collection techniques or other forms of For security reasons, the OCC requires
12 U.S.C. 371c and 371c–1. Twelve information technology; and that visitors make an appointment to
U.S.C. 24 contains two separate (e) Estimates of capital or start up inspect comments. You may do so by
provisions authorizing a national bank costs and costs of operation, calling (202) 649–6700 or, for persons
to acquire personal property for maintenance, and purchase of services who are deaf or hard of hearing, TTY,
purposes of lease financing. Twelve to provide information. (202) 649–5597. Upon arrival, visitors
U.S.C. 24(Seventh) authorizes leases of Dated: January 13, 2016. will be required to present valid
personal property (Section 24(Seventh) Mary H. Gottlieb, government-issued photo identification
Leases) if the lease is a conforming lease Regulatory Specialist, Legislative and and submit to security screening in
as defined in 12 CFR 23.2(d)(2) and Regulatory Activities Division. order to inspect and photocopy
represents a noncancelable obligation of [FR Doc. 2016–00884 Filed 1–19–16; 8:45 am] comments.
the lessee (i.e., the lease serves as the BILLING CODE 4810–33–P
All comments received, including
functional equivalent of a loan). See 12 attachments and other supporting
CFR 23.20. A national bank also may materials, are part of the public record
acquire personal property for purposes DEPARTMENT OF THE TREASURY and subject to public disclosure. Do not
of lease financing under the authority of include any information in your
12 U.S.C. 24(Tenth) (CEBA Leases). Office of the Comptroller of the comment or supporting materials that
Section 23.5 requires that if a national Currency you consider confidential or
bank enters into both types of leases, its inappropriate for public disclosure.
records must distinguish between the Agency Information Collection FOR FURTHER INFORMATION CONTACT:
two types of leases. This information is Activities; Information Collection Shaquita Merritt, Clearance Officer,
required to establish that the national Renewal; Comment Request; (202) 649–5490 or, for persons who are
bank is complying with the limitations Securities Exchange Act Disclosure deaf or hard of hearing, TTY, (202) 649–
and requirements applicable to the two Rules and Securities of Federal 5597, Legislative and Regulatory
types of leases. Savings Associations Activities Division, Office of the
National banks use the information to AGENCY: Office of the Comptroller of the Comptroller of the Currency, 400 7th
ensure their compliance with applicable Currency (OCC), Treasury. Street SW., Washington, DC 20219.
Federal banking law and regulations SUPPLEMENTARY INFORMATION: Under the
ACTION: Notice and request for comment.
and accounting principles. The OCC PRA (44 U.S.C. 3501–3520), Federal
uses the information in conducting SUMMARY: The OCC, as part of its agencies must obtain approval from the
examinations and as an auditing tool to continuing effort to reduce paperwork OMB for each collection of information
verify compliance with laws and and respondent burden, invites the they conduct or sponsor. ‘‘Collection of
regulations. In addition, the OCC uses general public and other Federal information’’ is defined in 44 U.S.C.
national bank requests for permission to agencies to take this opportunity to 3502(3) and 5 CFR 1320.3(c) to include
extend the holding period for off-lease comment on a continuing information Agency requests or requirements that
property to ensure national bank collection, as required by the Paperwork members of the public submit reports,
compliance with relevant laws and Reduction Act of 1995 (PRA). keep records, or provide information to
regulations and to ensure bank safety In accordance with the requirements a third party. Section 3506(c)(2)(A) of
and soundness. of the PRA, the OCC may not conduct the PRA (44 U.S.C. 3506(c)(2)(A))
Type of Review: Regular. or sponsor, and respondents are not requires Federal agencies to provide a
Affected Public: Individuals; required to respond to, an information 60-day notice in the Federal Register
tkelley on DSK4VPTVN1PROD with NOTICES

Businesses or other for-profit. collection unless it displays a currently concerning each proposed collection of
Estimated Number of Respondents: valid Office of Management and Budget information, including each proposed
345. (OMB) control number. extension of an existing collection of
Estimated Total Annual Responses: The OCC is soliciting comment information, before submitting the
345. concerning the renewal of its collection to OMB for approval. To
Frequency of Response: On occasion. information collection titled, ‘‘Securities comply with this requirement, the OCC
Estimated Total Annual Burden: 678. Exchange Act Disclosure Rules and is publishing notice of the proposed

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Document Created: 2016-01-19 23:44:04
Document Modified: 2016-01-19 23:44:04

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 March 21, 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 3236

81 FR 3236 - Agency Information Collection Activities; Information Collection Renewal; Comment Request; Leasing

DEPARTMENT OF THE TREASURYOffice of the Comptroller of the Currency

Federal Register Volume 81, Issue 12 (January 20, 2016)

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency