[Federal Register: December 27, 2005 (Volume 70, Number 247)]
[Notices]
[Page 76454-76455]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr27de05-43]

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

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 
mmenchik@omb.eop.gov.


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