[Federal Register Volume 68, Number 172 (Friday, September 5, 2003)]
[Page 52819]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-22589]



Office of the Comptroller of the Currency

Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.


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 the 
information collection displays a currently valid OMB control number. 
The OCC is soliciting comment concerning its information collection 
titled, ``Leasing--12 CFR 23.'' The OCC also gives notice that it has 
sent the information collection to OMB for review and approval.

DATES: You should submit your comments to the OCC and the OMB Desk 
Officer by October 6, 2003.

ADDRESSES: You should direct comments to:
    Communications Division, Office of the Comptroller of the Currency, 
Public Information Room, Mailstop 1-5, Attention: 1557-0206-2, 250 E 
Street, SW., Washington, DC 20219. Due to delays in paper mail delivery 
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 regs.comments@occ.treas.gov. 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.
    Joseph F. Lackey, Jr., OMB Desk Officer for the OCC, Office of 
Information and Regulatory Affairs, Office of Management and Budget, 
New Executive Office Building, Room 10235, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection 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 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 
    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: 370.
    Estimated Total Annual Responses: 370.
    Estimated Total Annual Burden: 685 hours.
    Frequency of Response: On occasion.

    Dated: August 28, 2003.
Mark J. Tenhundfeld,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 03-22589 Filed 9-4-03; 8:45 am]