Proposed Information Collection; Comment Request

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

Proposed Information Collection; Comment Request

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 continuing information

collections, as required by the Paperwork Reduction Act of 1995.

Currently, the OCC is soliciting comment concerning an information

collection titled (MA)--Real Estate Lending and Appraisals.

DATES: Written comments should be submitted by September 22, 1997.

ADDRESSES: Direct all written comments to the Communications Division,

Attention: 1557-0190, Third Floor, Office of the Comptroller of the

Currency, 250 E Street, SW, Washington, DC 20219. In addition, comments

may be sent by facsimile transmission to (202) 874-5274, or by

electronic mail to [email protected]

FOR FURTHER INFORMATION CONTACT: Requests for additional information or

copies of the collection may be obtained by contacting John Ference or

Jessie Gates, (202) 874-5090, Legislative and Regulatory Activities

Division (1557-0190), Office of the Comptroller of the Currency, 250 E

Street, SW, Washington, DC 20219.

SUPPLEMENTARY INFORMATION:

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

OMB Number: 1557-0190.

Form Number: None.

Abstract: 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: Renewal of OMB approval.

Affected Public: Businesses or other for-profit.

Number of Respondents: 2,800.

Total Annual Responses: 6,340.

Frequency of Response: Occasional.

Total Annual Burden Hours: 212,560.

Comments

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 agency, including whether

the information has practical utility;

(b) The accuracy of the agency'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 startup costs and costs of operation,

maintenance, and purchase of services to provide information.

Dated: July 16, 1997.

Karen Solomon,

Director, Legislative & Regulatory Activities Division.

[FR Doc. 97-19148 Filed 7-21-97; 8:45 am]

BILLING CODE 4810-33-P