[Federal Register Volume 68, Number 110 (Monday, June 9, 2003)]
[Notices]
[Page 34481]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-14356]


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DEPARTMENT OF THE TREASURY

Comptroller of the Currency


Agency Information Collection Activities: Proposed Extension of 
Information Collection; Comment Request

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. 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 OMB control number. The OCC is soliciting comment 
concerning its information collection titled, ``Leasing--12 CFR part 
23.''

DATES: You should submit written comments by August 8, 2003.

ADDRESSES: You should direct comments to the Communications Division, 
Office of the Comptroller of the Currency, Public Information Room, 
Mailstop 1-5, Attention: 1557-0206, 250 E Street, SW., Washington, DC 
20219. Due to delays in paper mail in the Washington area, commenters 
are encouraged to submit comments by fax or e-mail. Comments may be 
sent by fax to (202) 874-4448, or by e-mail to 
[email protected]. You can inspect and photocopy the comments 
at the OCC's Public Information Room, 250 E Street, SW., Washington, DC 
20219. You can make an appointment to inspect the comments by calling 
(202) 874-5043.
    A copy of the comments should also be sent to the OMB Desk Officer 
for the OCC: Joseph F. Lackey, Jr., Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503, or by e-mail to 
[email protected].

FOR FURTHER INFORMATION CONTACT: You can request additional information 
from Jessie Dunaway, OCC Clearance Officer, or Camille Dixon, (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, 
without change, 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 its approval of the 
information collection.
    The information collection requirements in 12 CFR part 23 are as 
follows:
    12 CFR 23.4(c)--Reporting requirement: National banks must 
liquidate or re-lease personal property that is no longer subject to 
lease (off-lease property) within five years from the lease expiration. 
A bank wishing to extend that five-year holding period for up to an 
additional five years must obtain OCC approval. To ensure that a bank 
is not holding property for speculative reasons, the OCC requires the 
bank to provide a clearly convincing demonstration as to why an 
additional holding period is necessary. This requirement confers a 
benefit on national banks and may result in cost savings. This 
requirement provides flexibility for a bank when it faces unusual and 
unforeseen conditions under which it would be imprudent to dispose of 
the off-lease property.
    12 CFR 23.4(c)--Recordkeeping requirement: 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.
    12 CFR 23.5--Recordkeeping requirement: If a national bank enters 
into both CEBA leases (a personal property lease authorized under 12 
U.S.C. 24(Tenth)) and section 24(Seventh) leases (a personal property 
lease authorized under 12 U.S.C. 24(Seventh)), the bank's records must 
distinguish between the two types of leases. This information is 
required to evidence compliance with the statutory limitation on the 
aggregate amount a national bank may invest in leases pursuant to 12 
U.S.C. 24 (Tenth).
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 580.
    Estimated Total Annual Responses: 625.
    Estimated Total Annual Burden: 1,610 hours.
    Frequency of Response: On occasion.
    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;
    (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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: May 30, 2003.
Mark J. Tenhundfeld,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 03-14356 Filed 6-6-03; 8:45 am]
BILLING CODE 4810-33-P