Information Collection; Submission for OMB Review; Comment Request

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

Information Collection; Submission for OMB Review; Comment

Request

AGENCY: Office of the Comptroller of the Currency, Treasury.

ACTION: Submission for OMB review; comment request.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction

Act of 1995 (44 U.S.C. Chapter 35), the Office of the Comptroller of

the Currency (OCC) hereby gives notice that it has sent to the Office

of Management and Budget (OMB) for review an information collection

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

DATES: Comments regarding this information collection are welcome and

should be submitted to the OMB Reviewer and the OCC. Comments are due

on or before December 26, 1997.

ADDRESSES: A copy of the submission may be obtained by calling the OCC

contact listed. 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]

SUPPLEMENTARY INFORMATION:

OMB Number: 1557-0190.

Form Number: Not applicable.

Type of Review: Renewal of OMB approval.

Title: (MA) Real Estate Lending and Appraisals.

Description: 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 appraisal 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 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.

Respondents: Businesses or other for-profit; individuals.

Number of Respondents: 2,800.

Total Annual Responses: 3,540.

Frequency of Response: Occasional.

Estimated Total Annual Burden: 240,160.

OCC Contact: Jessie Gates, (202) 874-5090, Legislative and

Regulatory Activities Division, Office of the Comptroller of the

Currency, 250 E Street, SW, Washington, DC 20219.

OMB Reviewer: Alexander Hunt, (202) 395-7340, Paperwork Reduction

Project 1557-0190, Office of Management and Budget, Room 10226, New

Executive Office Building, Washington, DC 20503.

The OCC may not conduct or sponsor, and respondent is not required

to respond to, an information collection that has been extended,

revised, or implemented on or after October 1, 1995, unless it displays

a currently valid OMB control number. Comments are invited on: (a)

Whether the proposed revisions to the following collections of

information are 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; (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 startup costs and costs of

operation, maintenance, and purchase of services to provide

information.

Date: November 13, 1997.

Karen Solomon,

Director, Legislative & Regulatory Activities Division.

[FR Doc. 97-30976 Filed 11-25-97; 8:45 am]

BILLING CODE 4810-33-P