[Federal Register Volume 70, Number 200 (Tuesday, October 18, 2005)]
[Notices]
[Pages 60524-60526]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-20833]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; 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

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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

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, 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 collections 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 collections, 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 16, 2005.

ADDRESSES: You may submit comments, identified by Reg H-2 or Reg BB, by 
any of the following methods:
     Agency Web Site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-mail: [email protected]. Include docket 
number in the subject line of the message.
     FAX: 202/452-3819 or 202/452-3102.
     Mail: Jennifer J. Johnson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue, 
NW., Washington, DC 20551.
    All public comments are available from the Board's Web site at 
http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as 
submitted, unless modified for technical reasons. Accordingly, your 
comments will not be edited to remove any identifying or contact 
information. Public comments may also be viewed electronically or in 
paper in Room MP-500 of the Board's Martin Building (20th and C 
Streets, NW.) between 9 a.m. and 5 p.m. on weekdays.

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. Michelle Long, 
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 (202-263-4869), Board of Governors of the 
Federal Reserve System, Washington, DC 20551.

Proposals To Approve Under OMB Delegated Authority 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: 122,413 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: 910.
    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 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.
    2. Report title: Recordkeeping, Reporting, and Disclosure 
Requirements in Connection with Regulation BB (Community Reinvestment 
Act).
    Agency form number: Reg BB.
    OMB control number: 7100-0197.
    Frequency: Annually.
    Reporters: State member banks.
    Annual reporting hours: 85,234 hours.
    Estimated average hours per response: Recordkeeping Requirement, 
small business and small farm loan register, 219 hours. Optional 
Recordkeeping Requirements, consumer loan data, 326 hours; other loan 
data, 25 hours. Reporting Requirements, assessment area delineation, 2 
hours; small business and small farm loan data, 8 hours; community 
development loan data, 13 hours; and HMDA out of MSA loan data, 253 
hours. Optional Reporting Requirements, data on lending by a consortium 
or third party, 17 hours; affiliate lending data, 38 hours; strategic 
plan, 275 hours; and request for designation as a wholesale or limited 
purpose bank, 4 hours. Disclosure Requirement, public file, 10 hours.
    Number of respondents: 914.
    Abstract: This submission covers an extension of the Federal 
Reserve's currently approved information collections in their CRA 
regulations (12 CFR part 228). The submission involves no change to the 
regulation or to the information collection.
    The Federal Reserve System needs the information collected to 
fulfill their obligations under the CRA (12 U.S.C. 2901 et seq.) to 
evaluate and assign ratings to the performance of institutions, in 
connection with helping to meet the credit needs of their communities, 
including low- and moderate-income neighborhoods, consistent with safe 
and sound banking practices. The Federal Reserve System uses the 
information in the examination process and in evaluating applications

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for mergers, branches, and certain other corporate activities. 
Financial institutions maintain and provide the information to the 
Federal Reserve System.

    Board of Governors of the Federal Reserve System, October 13, 
2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 05-20833 Filed 10-17-05; 8:45 am]
BILLING CODE 6210-01-P