[Federal Register Volume 75, Number 114 (Tuesday, June 15, 2010)]
[Notices]
[Pages 33806-33807]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-14311]


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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 (PRA), 
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 Paperwork Reduction Act 
Submission, 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 Proposals

    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 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 August 16, 2010.

ADDRESSES: You may submit comments, identified by FR HMDA/LAR or Reg 
CC, 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 form 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.
    Additionally, commenters should send a copy of their comments to 
the OMB Desk Officer by mail to the Office of Information and 
Regulatory Affairs, U.S. Office of Management and Budget, New Executive 
Office Building, Room 10235, 725 17th Street, NW., Washington, DC 20503 
or by fax to 202-395-6974.

FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public Web site at: http://www.federalreserve.gov/boarddocs/reportforms/review.cfm or may be 
requested from the agency clearance officer, whose name appears below.
    Michelle Shore, 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

[[Page 33807]]

for the Deaf (TDD) users may contact (202-263-4869), Board of Governors 
of the Federal Reserve System, Washington, DC 20551.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, Without Revision, of the Following Report(s)

    1. Report title: Home Mortgage Disclosure Act (HMDA) Loan/
Application Register (LAR).
    Agency form number: FR HMDA-LAR.
    OMB control number: 7100-0247.
    Frequency: Annual.
    Reporters: State member banks, subsidiaries of state member banks, 
subsidiaries of bank holding companies, U.S. branches and agencies of 
foreign banks (other than Federal branches, Federal agencies, and 
insured state branches of foreign banks), commercial lending companies 
owned or controlled by foreign banks, and organizations operating under 
section 25 or 25A of the Federal Reserve Act.
    Estimated annual reporting hours: 151,134 hours.
    Estimated average hours per response: State member banks, 242 
hours; and mortgage subsidiaries, 192 hours.
    Number of respondents: 519 State member banks, and 133 mortgage 
subsidiaries.
    General description of report: This information collection is 
mandatory (12 U.S.C. 2803(j)). The information is not given 
confidential treatment, however, information that might identify 
individual borrowers or applicants is given confidential treatment 
under exemption 6 of the Freedom of Information Act (5 U.S.C. 
552(b)(6)) and section 304(j)(2)(B) of HMDA (12 U.S.C. 2803(j)(2)(B)).
    Abstract: The information reported and disclosed pursuant to this 
collection is used to further the purposes of HMDA. These include: (1) 
To help determine whether financial institutions are serving the 
housing needs of their communities; (2) to assist public officials in 
distributing public-sector investments so as to attract private 
investment to areas where it is needed; and (3) to assist in 
identifying possible discriminatory lending patterns and enforcing 
anti-discrimination statutes.
    2. Report title: Disclosure Requirements in Connection with 
Regulation CC (Expedited Funds Availability Act (EFAA)).
    Agency form number: Reg CC.
    OMB control number: 7100-0235.
    Frequency: Event-generated.
    Reporters: State member banks and uninsured state branches and 
agencies of foreign banks.
    Annual reporting hours: 202,396 hours.
    Estimated average hours per response: Banks: Specific availability 
policy disclosure and initial disclosures, 1 minute; notice in specific 
policy disclosure, 3 minutes; notice of exceptions, 3 minutes; 
locations where employees accept consumer deposits, 15 minutes; annual 
notice of new automated teller machines (ATMs), 5 hours; ATM changes in 
policy, 20 hours; notice of nonpayment, 1 minute; expedited recredit 
for consumers, 15 minutes; expedited recredit for banks, 15 minutes; 
consumer awareness, 1 minute. Consumers: Expedited recredit claim 
notice, 15 minutes.
    Number of respondents: 1,060.
    General description of report: This information collection is 
mandatory. Reg CC is authorized pursuant the EFAA, as amended, and the 
Check 21 Act (12 U.S.C. 4008 and 12 U.S.C. 5014, respectively). Because 
the Federal Reserve does not collect any information, no issue of 
confidentiality arises. However, if, during a compliance examination of 
a financial institution, a violation or possible violation of the EFAA 
or the Check 21 Act is noted then information regarding such violation 
may be kept confidential pursuant to section (b)(8) of the Freedom of 
Information Act. 5 U.S.C. 552(b)(8).
    Abstract: Regulation CC requires banks to make funds deposited in 
transaction accounts available within specified time periods, disclose 
their availability policies to customers, and begin accruing interest 
on such deposits promptly. The disclosures are intended to alert 
customers that their ability to use deposited funds may be delayed, 
prevent unintentional (and potentially costly) overdrafts, and allow 
customers to compare the policies of different banks before deciding at 
which bank to deposit funds. The regulation also requires notice to the 
depositary bank and to a customer of nonpayment of a check. Model 
disclosure forms, clauses, and notices are appended to the regulation 
to ease compliance.

    Board of Governors of the Federal Reserve System, June 10, 2010.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2010-14311 Filed 6-14-10; 8:45 am]
BILLING CODE 6210-01-P