[Federal Register Volume 64, Number 15 (Monday, January 25, 1999)]
[Notices]
[Pages 3701-3702]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-1550]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Proposed Collection; 
Comment Request

AGENCY: Board of Governors of the Federal Reserve System
SUMMARY: Background. On June 15, 1984, the Office of Management and 
Budget (OMB) delegated to the Board of Governors of the Federal Reserve 
System (Board) its approval authority under the Paperwork Reduction 
Act, as per 5 CFR 1320.16, to approve of and assign OMB control numbers 
to collection of information requests and requirements conducted or 
sponsored by the Board under conditions set forth in 5 CFR 1320 
Appendix A.1. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. Copies of the OMB 83-Is and supporting 
statements and approved collection of information instruments are 
placed into OMB's public docket files. The Federal Reserve may not 
conduct or sponsor, and the 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.
    Request for comment on information collection proposal(s).
    The following information collection, which is being handled under 
this delegated authority, has received initial Board approval and is 
hereby published for comment. At the end of the comment period, the 
proposed information collection, along with an analysis of comments and 
recommendations received, will be submitted to the Board for final 
approval under OMB delegated authority. Comments are invited on the 
following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve's estimate of the burden of 
the proposed 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; and
    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.
DATES: Comments must be submitted on or before March 26, 1999.
ADDRESSES: Comments, which should refer to the OMB control number or 
agency form number, should be addressed to Jennifer J. Johnson, 
Secretary, Board of Governors of the Federal Reserve System, 20th and C 
Streets, N.W., Washington, DC 20551, or delivered to the Board's mail 
room between 8:45 a.m. and 5:15 p.m., and to the security control room 
outside of those hours. Both the mail room and the security control 
room are accessible from the courtyard entrance on 20th Street between 
Constitution Avenue and C Street, N.W. Comments received may be 
inspected in room M-P-500 between 9:00 a.m. and 5:00 p.m., except as 
provided in section 261.14 of the Board's Rules Regarding Availability 
of Information, 12 CFR 261.14(a).
    A copy of the comments may also be submitted to the OMB desk 
officer for the Board: Alexander T. Hunt, Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 3208, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: A copy of the proposed form and 
instructions, the Paperwork Reduction Act Submission (OMB 83-I), 
supporting statement, and other documents that will be placed into 
OMB's public docket files once approved may be requested from the 
agency clearance officer, whose name appears below.
    Mary M. McLaughlin, Chief, Financial Reports Section (202-452-
3829), Division of Research and Statistics, Board of Governors of the 
Federal Reserve System, Washington, DC 20551. Telecommunications Device 
for the Deaf (TDD) users may contact Diane Jenkins (202-452-3544), 
Board of Governors of

[[Page 3702]]

the Federal Reserve System, Washington, DC 20551.
    Proposal to approve under OMB delegated authority the extension for 
three years, without revision, of the following report:
1. Report title: Recordkeeping Requirements Associated with the Real 
Estate Lending Standards Regulation
    Agency form number: FR H-5
    OMB control number: 7100-0261
    Frequency:
    Aggregate report: Quarterly
    Policy Statement: on occasion
    Reporters: State Member Banks
    Annual reporting hours: 20,100 hours
    Estimated average hours per response:
    Aggregate report: 5 hours
    Policy statement: 20 hours
    Number of respondents:
    Aggregate report: 989
    Policy Statement: 16
Small businesses are affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1828(o)). Since the Federal Reserve does not 
collect this information, confidentiality under the Freedom of 
Information Act (FOIA) is generally not an issue.
    Abstract: This information collection is a recordkeeping 
requirement contained in the Board's Regulation H (12 CFR 208.51) that 
implements section 304 of the Federal Deposit Insurance Corporation 
Improvement Act of 1991 (FDICIA). It requires state member banks to 
adopt and maintain a written real estate lending policy. Also, banks 
must identify their loans in excess of the supervisory loan-to-value 
limits and report (at least quarterly) the aggregate amount of the 
loans to the bank's board of directors.
    Regulatory Flexibility Act Analysis: Pursuant to section 605(b) of 
the Regution Flexibility Act (RFA) (5 U.S.C. 605(b)) the Federal 
Reserve hereby certifies that this proposed rule will not have a 
significant economic impact on a substantial number of small entities.
    Board of Governors of the Federal Reserve System, January 19, 
1999.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 99-1550 Filed 1-22-99; 8:45 am]
BILLING CODE 6210-01-P