[Federal Register Volume 76, Number 140 (Thursday, July 21, 2011)]
[Notices]
[Pages 43686-43687]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-18339]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System, 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 Proposal

    The following information collection, which is being handled under 
this delegated authority, has received initial Board approval and is 
hereby published for comment. At the end of the comment period, the 
proposed information collection, 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 September 19, 2011.

ADDRESSES: You may submit comments, identified by 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.

[[Page 43687]]

     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. 
Cynthia Ayouch, Acting 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.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, Without Revision of the Following Information Collection

    Report title: The Recordkeeping, Reporting and Disclosure 
Requirements in Connection with Regulation BB (Community Reinvestment 
Act (CRA)).
    Agency form number: Reg BB.
    OMB control number: 7100-0197.
    Frequency: Annually.
    Reporters: State member banks (SMBs).
    Annual reporting hours: 52,127 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 and 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: Recordkeeping Requirement, small business 
and small farm loan register, 72. Optional Recordkeeping Requirements, 
consumer loan data, 24 and other loan data, 4. Reporting Requirements, 
assessment area delineation, 72; small business and small farm loan 
data, 72; community development loan data, 72; and HMDA out of MSA loan 
data, 72. Optional Reporting Requirements, data on lending by a 
consortium or third party, 6; affiliate lending data, 4; strategic 
plan, 1; and request for designation as a wholesale or limited purpose 
bank, 1. Disclosure Requirement, public file, 803.
    General description of report: This information collection is 
authorized by section 806 of the CRA which permits the board to issue 
regulations to carry out the purpose of CRA (12 U.S.C. 2905), Section 
11 of the Federal Reserve Act (FRA), which permits the Board to require 
such statements as reports of SMBs as it deems necessary (12 U.S.C. 
248(a)(1)), and section 9 of the FRA, which permits the Board to 
examine SMBs (12 U.S.C. 325). The requirements are generally mandatory, 
depending on bank size and other factors. The data that are reported to 
the Federal Reserve are not considered confidential.
    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 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, July 15, 2011.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2011-18339 Filed 7-20-11; 8:45 am]
BILLING CODE 6210-01-P