[Federal Register Volume 87, Number 11 (Tuesday, January 18, 2022)]
[Notices]
[Pages 2665-2666]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[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 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.
    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 www.reginfo.gov. 
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 www.reginfo.gov, 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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