Notice2025-05497
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
March 31, 2025
Issuing agencies
Treasury DepartmentComptroller of the Currency
Abstract
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites 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."
Full Text
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<title>Federal Register, Volume 90 Issue 60 (Monday, March 31, 2025)</title>
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[Federal Register Volume 90, Number 60 (Monday, March 31, 2025)]
[Notices]
[Pages 14320-14321]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-05497]
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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 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.''
[[Page 14321]]
DATES: Comments must be received by May 30, 2025.
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#addddfccc4c3cbc2edc2cece83d9dfc8ccde83cac2db"><span class="__cf_email__" data-cfemail="28585a4941464e4768474b4b065c5a4d495b064f475e">[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) 293-4835.
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.
Following the close of this notice's 60-day comment period, the OCC
will publish a second notice with a 30-day comment period. 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.
<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'' from the drop-down menu. From the
``Currently under Review'' drop-down menu, select ``Department of
Treasury'' and then click ``submit.'' This information collection can
be located by searching 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. If you are deaf,
hard of hearing, or have a speech disability, please dial 7-1-1 to
access telecommunications relay services.
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 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.
Section 3506(c)(2)(A) of title 44 generally 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 renewal/revision of this collection.
Title: Leasing.
OMB Control No.: 1557-0206.
Type of Review: Regular.
Affected Public: Businesses or other for-profit.
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.
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 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 37lc-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. 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) if the related lease is
a conforming lease as defined in 12 CFR 23.2(d)(l) and the aggregate
book value of the property does not exceed 10 percent of the national
bank's consolidated assets. See 12 CFR 23.10. 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 separate types of
leases.
Estimated Burden per Respondent: 10 hours.
Estimated Frequency of Response: On occasion.
Estimated Number of Respondents: 30.
Estimated Total Annual Burden: 300 hours.
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 OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC'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 start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
[FR Doc. 2025-05497 Filed 3-28-25; 8:45 am]
BILLING CODE 4810-33-P
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