01-6246. Agency Information Collection Activities: Submission for OMB Review; Comment Request

AGENCY:

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

ACTION:

Submission for OMB review; comment request.

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. The OCC may not conduct or sponsor, and a respondent is not required to respond to, an information collection that has been extended, revised, or implemented unless it displays a currently valid Office of Management and Budget (OMB) control number. Currently, the OCC is soliciting comments concerning an extension, without change, of an information collection titled (MA)—Real Estate Lending and Appraisals—12 CFR 34.” The OCC also gives notice that it has sent the information collection to OMB for review.

DATES:

You should submit your comments to both OCC and the OMB Desk Officer by April 13, 2001.

ADDRESSES:

You are invited to submit comments to the Office of the Comptroller of the Currency, 250 E Street, SW., Public Information Room, Mailstop 1-5, Attention: 1557-0190, Washington, DC 20219. In addition, you can send comments by facsimile transmission to [phone], or by electronic mail to [e-mail].

A copy of the comments may also be submitted to the OMB Desk Officer, Alexander T. Hunt, Office of Management and Budget, New Executive Office Building, Room 3208, Attention: 1557-0190, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT:

You may request additional information or a copy of the collection and supporting documentation submitted to OMB by contacting Jessie Dunaway, OCC Clearance Officer, or Camille Dixon, [phone], 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 of the following information collection:

Title: (MA)—Real Estate Lending and Appraisals—12 CFR 34.

OMB Number: 1557-0190.

Form Number: None.

Description: This submission covers an existing regulation and involves no change to the regulation or to the information collections embodied in the regulation. The OCC requests only that OMB renew its approval of the information collections in the current regulation.

The collections of information contained in 12 CFR part 34 are as follows:

Subpart C establishes real estate appraisal requirements that a national bank must follow for all federally-related real estate transactions. These requirements provide protections for the bank, further public policy interests, and were issued pursuant to title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3331 et seq.).

Subpart D requires that a national bank adopt and maintain written policies for real estate related lending transactions. These requirements ensure bank safety and soundness and were issued pursuant to section 304 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1828(o)).

Subpart E requires that a national bank file an application to extend the five-year holding period for Other Real Estate Owned (OREO) and file notice when it makes certain expenditures for OREO development or improvement projects. These requirements further bank safety and soundness and were issued pursuant to 12 U.S.C. 29.

Type of Review: Extension of a currently approved collection.

Affected Public: Businesses or other for-profit.

Estimated Number of Respondents: 2,400.

Estimated Total Annual Responses: 900.

Frequency of Response: On occasion.

Estimated Total Annual Burden: 132,900 burden hours.

Comments: The Agencies have a continuing interest in the public's opinion regarding collections of information. Members of the public may submit comments regarding any aspect of these collections of information.

Dated: March 7, 2001

Mark J. Tenhundfeld,

Assistant Director, Legislative & Regulatory Activities Division.