[Federal Register: July 20, 2000 (Volume 65, Number 140)]
[Notices]               
[Page 45080-45081]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20jy00-72]                         

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FEDERAL RESERVE SYSTEM

 
Agency Information Collection Activities: Proposed Collection; 
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 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 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 September 18, 2000.

ADDRESSES: Comments, which should refer to the OMB control number or 
agency form number, should be addressed to Jennifer J. Johnson, 
Secretary, Board of Governors of the Federal Reserve System, 20th and C 
Streets, NW., Washington, DC 20551, or mailed electronically to 
regs.comments@federalreserve.gov. Comments addressed to Ms. Johnson 
also may be delivered to the Board's mail room between 8:45 a.m. and 
5:15 p.m., and to the security control room outside of those hours. 
Both the mail room and the security control room are accessible from 
the courtyard entrance on 20th Street between Constitution Avenue and C 
Street, NW. Comments received may be inspected in room M-P-500 between 
9 a.m. and 5 p.m., except as provided in section 261.14 of the Board's 
Rules Regarding Availability of Information, 12 CFR 261.14(a).
    A copy of the comments may also be submitted to the OMB desk 
officer for the Board: Alexander T. Hunt, Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 3208, Washington, DC 20503.

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. Mary M. West, 
Federal Reserve's 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 Diane Jenkins, (202-452-3544), Board of 
Governors of the Federal Reserve System, Washington, DC 20551.

[[Page 45081]]

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

    1. Report title: The HMDA Loan/Application Register.
    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 under section 
25 or 25A of the Federal Reserve Act.
    Annual reporting hours: 121,714 hours.
    Estimated average hours per response: Banks, 202 hours; mortgage 
subsidiaries, 160 hours.
    Number of respondents: Banks, 517; mortgage subsidiaries, 108. 
Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 2801 et seq.). The data are 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)).
    Abstract: The Federal Reserve's Regulation C, including the 
information collection, applies both to depository and to for-profit 
non-depository institutions. 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 statues.

    2. Report title: International Applications and Prior Notifications 
Under Subpart B of Regulation K.
    Agency form number: FR K-2.
    OMB control number: 7100-0284.
    Frequency: Event-generated.
    Reporters: Foreign banks.
    Annual reporting hours: 600 hours.
    Estimated average hours per response: 40 hours.
    Number of respondents: 15.
    Small businesses are not affected.
    General description of report: This information collection is 
required to obtain or retain a benefit sections 7 and 10 of the 
International Banking Act (12 U.S.C. 3105 and 3107). The applying 
organization has the opportunity to request confidentiality for 
information that it believes will qualify for a Freedom of Information 
Act exemption.
    Abstract: Foreign banks are required to obtain the prior approval 
of the Federal Reserve to establish a branch, agency, or representative 
office or to acquire ownership or control of a commercial lending 
company in the United States or to change the status of any existing 
office in the United States. The Federal Reserve needs the information 
to fulfill its statutory obligation to supervise foreign banking 
organizations with offices in the United States.

Board of Governors of the Federal Reserve System, July 17, 2000.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 00-18440 Filed 7-19-00; 8:45 am]
BILLING CODE 6210-01-P