[Federal Register Volume 84, Number 66 (Friday, April 5, 2019)]
[Notices]
[Pages 13784-13785]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-06643]



[[Page 13784]]

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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.

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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 respondents are 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 submitted on or before May 6, 2019.

ADDRESSES:  Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
     Email: [email protected].
     Mail: Chief Counsel's Office, Office of the Comptroller of 
the Currency, Attention: 1557-0206, 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Fax: (571) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0206'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, such as name and address information, 
email addresses, or phone numbers. 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].
    You may review comments and other related materials that pertain to 
this information collection \1\ following the close of the 30-day 
comment period for this notice by any of the following methods:
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    \1\ On December 4, 2018, the OCC published a 60-day notice for 
this information collection, 83 FR 62670.
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     Viewing Comments Electronically: Go to www.reginfo.gov. 
Click on the ``Information Collection Review'' tab. Underneath the 
``Currently under Review'' section heading, from the drop-down menu 
select ``Department of Treasury'' and then click ``submit.'' This 
information collection can be located by searching by OMB control 
number ``1557-0206'' or ``Leasing.'' Upon finding the appropriate 
information collection, click on the related ``ICR Reference Number.'' 
On the next screen, select ``View Supporting Statement and Other 
Documents'' and then click on the link to any comment listed at the 
bottom of the screen.
     For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.
     Viewing Comments Personally: You may personally inspect 
comments at the OCC, 400 7th Street SW, Washington, DC. 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 hearing impaired, 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 
comments.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer, 
(202) 649-5490 or, for persons who are deaf or hearing impaired, TTY, 
(202) 649-5597, Chief Counsel's Office, Office of the Comptroller of 
the Currency, 400 7th Street SW, Suite 3E-218, 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 that 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. The OCC asks 
that OMB extend its approval of this collection.
    Title: Leasing.
    OMB Control No.: 1557-0206.
    Description: Under 12 CFR 23.4(c), a national bank must liquidate 
or re-lease property that is no longer subject to lease (off-lease 
property) as soon as practicable and not later than five years from the 
date the bank acquires the legal right to possess or control the 
property. If a national bank wishes to extend the five-year holding 
period for up to an additional five years, it must obtain OCC approval. 
Twelve CFR 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 becomes off-lease property.
    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; 
Regulation W, 12 CFR part 223; and other limits or restrictions the OCC 
determines apply.
    Twelve U.S.C. 24 contains two separate provisions authorizing a 
national bank to acquire personal property for purposes of lease 
financing. 12 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). Twelve CFR 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 separate types of leases.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 229.
    Estimated Total Annual Burden: 562.
    Frequency of Response: On occasion.
    On December 4, 2018, the OCC issued a notice for 60 days of comment 
concerning this collection, 83 FR 62670. No comments were received. 
Comments continue to be requested on:

[[Page 13785]]

    (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 29, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-06643 Filed 4-4-19; 8:45 am]
 BILLING CODE 4810-33-P