[Federal Register Volume 67, Number 246 (Monday, December 23, 2002)]
[Notices]
[Page 78233]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-32185]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: Background: Notice is hereby given of the final approval of 
proposed information collections by the Board of Governors of the 
Federal Reserve System (Board) under OMB delegated authority, as per 5 
CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the 
Public). 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 instrument(s) 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.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer -Cindy Ayouch--Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, Mail stop 41, Washington, DC 
20551 (202-452-3829). OMB Desk Officer-Joseph Lackey--Office of 
Information and Regulatory Affairs, Office of Management and Budget, 
New Executive Office Building, Room 10235, Washington, DC 20503.
Final approval under OMB delegated authority of the extension for three 
years, without revision, of the following reports:
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 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 exemptions 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, December 17, 
2002.

Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 02-32185 Filed 12-20-02; 8:45 am]
BILLING CODE 6210-01-S