Leasing

OMB Control No: 1557-0206	ICR Reference No: 202204-1557-001
Status: Received in OIRA	Previous ICR Reference No: 201902-1557-007
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Leasing
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 04/21/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved	06/30/2022
Responses	29	229
Time Burden (Hours)	290	562
Cost Burden (Dollars)	0	0

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Abstract: The information collection ensures that national banks conduct their operations in a safe and sound manner and in accordance with applicable Federal banking statutes and regulations. The collection of information provides needed information for examiners and confirmation of compliance for banks. The OCC uses the information to verify compliance with relevant laws and regulations.

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Authorizing Statute(s): US Code: 12 USC 24(Seventh), 24(Tenth) Name of Law: National Bank Act

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 2665	01/18/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 23915	04/21/2022
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title Form No. Form Name Investment in Personal Property - Request for Additional Holding Period Investment in Personal Property - Valuing Off-Lease Property Requirement for Separate Records

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	29	229	0	-200	0	0
Annual Time Burden (Hours)	290	562	0	-272	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The decrease in burden is due to revisions to the burden methodology that better estimate the number of national banks expected to seek an extension of the five-year holding period for off-lease property under 12 CFR 23.4(c). In addition, the revised estimates do not include any burden estimates for the recordkeeping requirements to (1) promptly value off-lease property at the lower of current fair market value or book value or (2) distinguish between 24(Seventh) Leases and CEBA Leases. Both recordkeeping requirements are considered usual or customary business practices, and the former is a GAAP requirement. Therefore, the OCC does not expect the regulation’s recordkeeping requirements to impose any additional burden.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

Agency Contact: Daniel Sufranski 202 649-6092 [email protected]

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
		(a) It is necessary for the proper performance of agency functions;
		(b) It avoids unnecessary duplication;
		(c) It reduces burden on small entities;
		(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
		(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
		(f) It indicates the retention periods for recordkeeping requirements;
		(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
			(i) Why the information is being collected;
			(ii) Use of information;
			(iii) Burden estimate;
			(iv) Nature of response (voluntary, required for a benefit, or mandatory);
			(v) Nature and extent of confidentiality; and
			(vi) Need to display currently valid OMB control number;
		(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
		(i) It uses effective and efficient statistical survey methodology (if applicable); and
		(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date: 04/21/2022

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