[Federal Register Volume 67, Number 191 (Wednesday, October 2, 2002)]
[Notices]
[Pages 61886-61887]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-25036]


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FEDERAL RESERVE SYSTEM


Agency information collection activities: Proposed collection; 
comment request

AGENCY: Board of Governors of the Federal Reserve System

ACTION: Notice

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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-I's 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.
    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 December 2, 2002.

ADDRESSES: Comments may be mailed to Ms. Jennifer J. Johnson, 
Secretary, Board of Governors of the Federal Reserve System, 20th 
Street and Constitution Avenue, N.W., Washington, DC 20551. However, 
because paper mail in the Washington area and at the Board of Governors 
is subject to delay, please consider submitting your comments by e-mail 
to [email protected], or faxing them to the Office of 
the Secretary at 202-452-3819 or 202-452-3102. Comments addressed to 
Ms. Johnson may also be delivered to the Board's mail facility in the 
West Courtyard between 8:45 a.m. and 5:15 p.m., located on 21st Street 
between Constitution Avenue and C Street, NW. Members of the public may 
inspect comments in Room MP-500 between 9:00 a.m. and 5:00 p.m. on 
weekdays pursuant to 261.12, except as provided in 261.14, of the 
Board's Rules Regarding Availability of Information, 12 CFR 261.12 and 
261.14.
    A copy of the comments may also be submitted to the OMB desk 
officer for the Board: Joseph Lackey, 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. West, Federal Reserve Board Clearance Officer (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 the Federal Reserve System, Washington, DC 20551.

SUPPLEMENTARY INFORMATION:

Proposal to approve under OMB delegated authority the extension for 
three years, without revision, of the following report:

    1. Report title: Recordkeeping and Disclosure Requirements 
Associated with Loans Secured by Real Estate Located in Flood Hazard 
Areas Pursuant to Section 208.25 of Regulation H.
    Agency form number: Reg H-2
    OMB control number: 7100-0280
    Frequency: Event-generated
    Reporters: State member banks
    Annual reporting hours: 111,420 hours
    Estimated average hours per response: Notice of special flood 
hazards to borrowers and servicers, 0.08 hours; notice to the Federal 
Emergency Management Agency (FEMA) of servicer, 0.08 hours; notice to 
FEMA of change of servicer, 0.08 hours; and retention of standard FEMA 
form, 0.04 hours.
    Number of respondents: 976
    Small businesses are affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a)(1)). Because the Federal Reserve does not 
collect any of FEMA forms this information collection is not

[[Page 61887]]

given confidential treatment. However, should any of these records come 
into the possession of the Federal Reserve, such information may be 
protected from disclosure by exemption 4 and 6 of the Freedom of 
Information Act (5 U.S.C. 552(b)(4) and (b)(6)).
    Abstract: Regulation H requires state member banks to notify a 
borrower and servicer when loans secured by real estate are determined 
to be in a special flood hazard area and notify them whether flood 
insurance is available; notify FEMA of the identity of, and any change 
of, the servicer of a loan secured by real estate in a special flood 
hazard area; and retain a completed copy of the Standard Flood Hazard 
Determination Form used to determine whether property securing a loan 
is in a special flood hazard area.
    Board of Governors of the Federal Reserve System, September 27, 
2002.

Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 02-25036 Filed 10-1-02; 8:45 pm]
BILLING CODE 6210-01-S