[Federal Register Volume 64, Number 15 (Monday, January 25, 1999)]
[Notices]
[Pages 3701-3702]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-1550]
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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 proposal(s).
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 March 26, 1999.
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, N.W., Washington, DC 20551, or 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, N.W. Comments received may be
inspected in room M-P-500 between 9:00 a.m. and 5:00 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. McLaughlin, Chief, Financial Reports Section (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
[[Page 3702]]
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:
1. Report title: Recordkeeping Requirements Associated with the Real
Estate Lending Standards Regulation
Agency form number: FR H-5
OMB control number: 7100-0261
Frequency:
Aggregate report: Quarterly
Policy Statement: on occasion
Reporters: State Member Banks
Annual reporting hours: 20,100 hours
Estimated average hours per response:
Aggregate report: 5 hours
Policy statement: 20 hours
Number of respondents:
Aggregate report: 989
Policy Statement: 16
Small businesses are affected.
General description of report: This information collection is
mandatory (12 U.S.C. 1828(o)). Since the Federal Reserve does not
collect this information, confidentiality under the Freedom of
Information Act (FOIA) is generally not an issue.
Abstract: This information collection is a recordkeeping
requirement contained in the Board's Regulation H (12 CFR 208.51) that
implements section 304 of the Federal Deposit Insurance Corporation
Improvement Act of 1991 (FDICIA). It requires state member banks to
adopt and maintain a written real estate lending policy. Also, banks
must identify their loans in excess of the supervisory loan-to-value
limits and report (at least quarterly) the aggregate amount of the
loans to the bank's board of directors.
Regulatory Flexibility Act Analysis: Pursuant to section 605(b) of
the Regution Flexibility Act (RFA) (5 U.S.C. 605(b)) the Federal
Reserve hereby certifies that this proposed rule will not have a
significant economic impact on a substantial number of small entities.
Board of Governors of the Federal Reserve System, January 19,
1999.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 99-1550 Filed 1-22-99; 8:45 am]
BILLING CODE 6210-01-P
