[Federal Register: April 9, 1999 (Volume 64, Number 68)]
[Notices]               
[Page 17382]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr09ap99-62]


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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 a 
proposed information collection 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:
Chief, Financial Reports Section--Mary M. West--Division of Research 
and Statistics, Board of Governors of the Federal Reserve System, 
Washington, DC 20551 (202-452-3829).
OMB Desk Officer--Alexander T. Hunt--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 3208, Washington, DC 20503 (202-395-7860)
    Final approval under OMB delegated authority of 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
    Effective Date: May 10, 1999.
    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 this is a recordkeeping 
requirement the Federal Reserve does not collect this information and 
confidentiality under the Freedom of Information Act (FOIA) is not 
generally 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 Statement: Pursuant to section 605(b) of 
the Regulation 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, April 5, 1999.
Jennifer J. Johnson.
Secretary of the Board.
[FR Doc. 99-8825 Filed 4-8-99; 8:45am]
BILLING CODE 6210-01-F