[Federal Register Volume 70, Number 247 (Tuesday, December 27, 2005)]
[Notices]
[Pages 76454-76455]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-7836]


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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-Is 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 e-mail to 
[email protected].

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: 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

[[Page 76455]]

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 
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, December 21, 
2005.
Jennifer J. Johnson
Secretary of the Board.
[FR Doc. E5-7836 Filed 12-23-05; 8:45 am]
BILLING CODE 6210-01-S