[Federal Register Volume 63, Number 241 (Wednesday, December 16, 1998)]
[Notices]
[Pages 69360-69361]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-33240]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Information Collection; Submission for OMB Review; Comment
Request
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Submission for OMB review; Comment request.
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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to take this opportunity to comment on a continuing
information collection, as required by the Paperwork Reduction Act of
1995. The OCC may not conduct or sponsor, and a respondent is not
required to respond to an information collection that has been
extended, revised, or implemented unless it displays a currently valid
OMB control number. Currently, the OCC is soliciting comments
concerning extension of an information collection titled (MA)-Loans in
Areas Having Special Flood Hazards (12 CFR part 22). The OCC also gives
notice that it has sent the information collection to the Office of
Management and Budget (OMB) for review.
DATES: Comments are due by January 15, 1999.
ADDRESSES: Your comments regarding this information collection are
welcome. You should submit your comments to the OMB Reviewer and to the
OCC's Communications Division, Attention: 1557-0202, Third Floor,
Office of the Comptroller of the Currency, 250 E Street, SW.,
Washington, DC 20219. Also, you can send your comments by facsimile
transmission to (202) 874-5274, or by electronic mail to
regs.comments@occ.treas.gov.
The OMB Reviewer is Alexander T. Hunt, Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, DC 20503.
You can inspect and photocopy the comments at the OCC's Public
Reference Room, between 9 a.m. and 5 p.m. on business days. You can
make an appointment to inspect the comments by calling (202) 874-5043.
FOR FURTHER INFORMATION CONTACT: You can request additional
information, a copy of the collection, or a copy of OCC's submission to
OMB by contacting Jessie Gates or Camille Dixon, (202)874-5090,
Legislative and Regulatory Activities Division (1557-0202), Office of
the Comptroller of the Currency, 250 E Street, SW., Washington, DC
20219.
SUPPLEMENTARY INFORMATION:
The OCC received no comments in response to its first Paperwork
Reduction Act renewal notice regarding this information collection
which was published in the Federal Register (63 FR 32695) on June 15,
1998.
Title: (MA)-Loans in Areas Having Special Flood Hazards (12 CFR
part 22).
OMB Number: 1557-0202.
Form Number: None.
Abstract: This information collection covers an existing regulation
and involves no change to the regulation or the information collection.
The OCC requests only that OMB renew its approval of the information
collection in the current regulation. The regulation requires national
banks to make disclosures and keep records regarding whether a property
securing a loan is located in a special flood hazard area.
This information collection is required by section 303(a) and title
V of the Riegle Community Development and Regulatory Improvement Act,
Pub. L. 103-325, title V, 108 Stat. 2160, the National Flood Insurance
Reform Act of 1994 amendments to the National Flood Insurance Act of
1968 (12 U.S.C. 4104a and 4104b) and the Flood Disaster Protection Act
of 1973 (12 U.S.C. 4012a and 4106(b)), and by OCC regulations
[[Page 69361]]
implementing those statutes located at 12 CFR 22.6, 22.7, 22.9, and
22.10.
The information collections are as follows:
12 CFR 22.6 requires a national bank to use and maintain a copy of
the Standard Flood Hazard Determination Form developed by FEMA.
12 CFR 22.7 requires a national bank or its loan servicer, if a
borrower has not obtained adequate flood insurance, to notify the
borrower to obtain adequate flood insurance or the bank or servicer
will purchase flood insurance on the borrower's behalf.
12 CFR 22.9 requires a national bank making a loan secured by a
building or a mobile home to advise the borrower and the loan servicer
that the property is, or is not, located in a special flood hazard
area, if flood insurance is available under the National Flood
Insurance Program, and if Federal disaster relief may be available in
the event of flooding. The bank must maintain a record of the
borrower's and loan servicer's receipts of these notices.
12 CFR 22.10 requires a national bank making a loan secured by a
building or a mobile home located in a special flood hazard area to
notify FEMA of the identity of the servicer, and of any change in
servicers.
These information collections ensure bank compliance with
applicable Federal law, further bank safety and soundness, provide
protections for banks and the public, and further public policy
interests.
Type of Review: Renewal of OMB approval without change.
Affected Public: Businesses or other for-profit.
Number of Respondents: 2,600.
Total Annual Responses: 262,600.
Frequency of Response: On occasion.
Total Annual Burden Hours: 67,600.
Comments
All comments will become a matter of public record. Comments are
invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility;
(b) The accuracy of the agency's estimate of the burden of the
collection of information;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection on respondents,
including through the use of automated collection techniques or other
forms of information technology; and
(e) Estimates of capital or startup costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: December 8, 1998.
Karen Solomon,
Director, Legislative & Regulatory Activities Division.
[FR Doc. 98-33240 Filed 12-15-98; 8:45 am]
BILLING CODE 4810-33-P
