[Federal Register Volume 66, Number 232 (Monday, December 3, 2001)]
[Notices]
[Pages 60242-60243]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-29897]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Proposed Extension of Information Collection; Comment Request

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

ACTION: Notice and request for comment.

-----------------------------------------------------------------------

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. An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless it displays a 
currently valid OMB control number. The OCC is soliciting comment 
concerning its information collection titled, ``(MA)--Loans in Areas 
Having Special Flood Hazards (12 CFR 22).''

DATES: You should submit written comments by February 1, 2002.

ADDRESSES: You should direct written comments to the Communications 
Division, Office of the Comptroller of the Currency, Public Information 
Room, Mailstop 1-5, Attention: 1557-0202, 250 E Street, SW., 
Washington, DC 20219. In addition, comments may be sent by facsimile 
transmission to (202) 874-4448, or by electronic mail to 
[email protected]. You can inspect and photocopy the comments 
at the OCC's Public Information Room, 250 E Street, SW., Washington, DC 
20219. You can make an appointment to inspect the comments by calling 
(202) 874-5043.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Jessie Dunaway, OCC Clearance Officer, 
or Camille Dixon, (202) 874-5090, 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)-Loans in Areas Having Special Flood Hazards (12 CFR 
22).
    OMB Number: 1557-0202.
    Description: This submission covers an existing regulation and 
involves no change to the regulation or to the information collection. 
The OCC requests only that OMB extend its approval of the information 
collection. This regulation requires national banks to make disclosures 
and keep records regarding whether a property securing a loan is 
located in a special flood hazard area.
    This information collection is required by section 303(a) and title 
V of the Riegle Community Development and Regulatory Improvement Act, 
Pub. L. 103-325, title V, 108 Stat. 2160, the National Flood Insurance 
Reform Act of 1994 amendments to the National Flood Insurance Act of 
1968 (42 U.S.C. 4104a and 4104b), the Flood Disaster Protection Act of 
1973 (42 U.S.C. 4012a and 4106(b)), and by OCC regulations implementing 
those statutes. The information collection requirements are contained 
in 12 CFR part 22.
    Section 22.6 requires a national bank to use and maintain a copy of 
the Standard Flood Hazard Determination Form developed by the Federal 
Emergency Management Agency (FEMA).
    Section 22.7 requires a national bank or its loan servicer, if a 
borrower has not obtained flood insurance, to notify the borrower to 
obtain adequate flood insurance coverage or the bank or servicer will 
purchase flood insurance on the borrower's behalf.
    Section 22.9 requires a national bank making a loan secured by a 
building or a mobile home to advise the borrower and the loan servicer 
that the property is, or is not, located in a special flood hazard 
area, if flood insurance is available under the National Flood 
Insurance Program, and if Federal disaster relief may be available in 
the event of flooding. The bank must maintain a record of the borrower 
and loan servicer's receipts of these notices.
    Section 22.10 requires a national bank making a loan secured by a 
building or a mobile home located in a special flood hazard area to 
notify FEMA of the identify of the servicer, and of any change in 
servicers.
    These information collection requirements ensure bank compliance 
with applicable Federal law, further bank safety and soundness, provide 
protections for banks and the public, and further public policy 
interests.

[[Page 60243]]

    Type of Review: Extension of OMB approval.
    Affected Public: Businesses or other for-profit (national banks).
    Estimated Number of Respondents: 2,600.
    Estimated Total Annual Responses: 262,600.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 67,600 hours.
    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: November 26, 2001.
Mark J. Tenhundfeld,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 01-29897 Filed 11-30-01; 8:45 am]
BILLING CODE 4810-33-P