Notice2022-00838
Agency Information Collection Activities; Information Collection Renewal; Comment Request; Leasing
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
January 18, 2022
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
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."
Full Text
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<title>Federal Register, Volume 87 Issue 11 (Tuesday, January 18, 2022)</title>
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[Federal Register Volume 87, Number 11 (Tuesday, January 18, 2022)]
[Notices]
[Pages 2665-2666]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-00838]
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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 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.''
DATES: Comments must be received by March 21, 2022.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
<bullet> Email: <a href="/cdn-cgi/l/email-protection#552527343c3b333a153a36367b21273034267b323a23"><span class="__cf_email__" data-cfemail="8efefcefe7e0e8e1cee1ededa0fafcebeffda0e9e1f8">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0206, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
<bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
<bullet> 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 <a href="http://www.reginfo.gov">www.reginfo.gov</a> 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.
You may review comments and other related materials that pertain to
this information collection beginning on the date of publication of the
second notice for this collection by the method set forth in the next
bullet. Following the close of this notice's 60-day comment period, the
OCC will publish a second notice with a 30-day comment period.
<bullet> Viewing Comments Electronically: Go to <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Hover over the ``Information Collection Review'' tab and click on
``Information Collection Review'' dropdown. 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.
<bullet> For assistance in navigating <a href="http://www.reginfo.gov">www.reginfo.gov</a>, please
contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, Clearance Officer,
(202) 649-5490, Chief Counsel's Office, Office of the Comptroller of
the Currency, 400 7th Street SW, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.),
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 title 44 generally requires Federal
[[Page 2666]]
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.
Title: Leasing.
OMB Control No.: 1557-0206.
Description: Under 12 CFR 23.4(c), national banks 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 national 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
and Regulation W, 12 CFR part 223. The OCC may also determine that
other limits or restrictions apply.
Twelve U.S.C. 24 contains two separate provisions authorizing a
national bank to acquire personal property for purposes of lease
financing. A national bank may invest in personal property for purposes
of lease financing under 12 U.S.C. 24(Seventh) (Section 24(Seventh)
Leases) if the lease is a conforming lease, as defined in 12 CFR
23.2(d)(2), representing 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 invest in tangible personal
property for purposes of lease financing under the authority of 12
U.S.C. 24(Tenth) (CEBA Leases) if the related lease is a conforming
lease as defined in 12 CFR 23.2(d)(1), which requires, among other
things, that the aggregate book value of the property not exceed 10
percent of the national bank's consolidated assets. See, 12 CFR 23.10.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 29.
Frequency of Response: On occasion.
Estimated Total Annual Burden: 290.
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 collection is necessary for the proper
performance of the OCC's functions, including whether the information
has practical utility;
(b) The accuracy of the OCC's estimate of the burden of the
information collection, 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 collection 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.
Patrick T. Tierney,
Assistant Director, Bank Advisory, Office of the Comptroller of the
Currency.
[FR Doc. 2022-00838 Filed 1-14-22; 8:45 am]
BILLING CODE 4810-33-P
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