[Federal Register Volume 70, Number 218 (Monday, November 14, 2005)]
[Notices]
[Page 69152]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-6256]


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

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 collection 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 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 Michelle Long--Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829).
    OMB Desk Officer Mark Menchik--Office of Information and Regulatory 
Affairs, Office of Management and Budget, New Executive Office 
Building, Room 10235, Washington, DC 20503, or email to 
[email protected].

Final approval under OMB delegated authority of the extension for three 
years, without revision of the following report:

    Report title: The Recordkeeping and Disclosure Requirements in 
Connection with Regulation M (Consumer Leasing)
    Agency form number: Reg M
    OMB control number: 7100-0202
    Frequency: on occasion
    Reporters: consumer lessors
    Annual reporting hours: disclosures, 3,509 hours; and advertising, 
25 hours
    Estimated average hours per response: disclosures, 6.5 minutes; and 
advertising, 25 minutes
    Number of respondents: 270
    General description of report: This information collection is 
mandatory sections 105(a) and 187 of TILA (15 U.S.C. Sec. Sec.  1604(a) 
and 1667(f) is not given confidential treatment.
    Abstract: The Consumer Leasing Act and Regulation M are intended to 
provide consumers with meaningful disclosures about the costs and terms 
of leases for personal property. The disclosures enable consumers to 
compare the terms for a particular lease with those for other leases 
and, when appropriate, to compare lease terms with those for credit 
transactions. The act and regulation also contain rules about 
advertising consumer leases and limit the size of balloon payments in 
consumer lease transactions. The information collection pursuant to 
Regulation M is triggered by specific events. All disclosures must be 
provided to the lessee prior to the consummation of the lease and when 
the availability of consumer leases on particular terms is advertised.

    Board of Governors of the Federal Reserve System, November 8, 
2005.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E5-6256 Filed 11-10-05; 8:45 am]
BILLING CODE 6210-01-S