[Federal Register Volume 67, Number 190 (Tuesday, October 1, 2002)]
[Notices]
[Pages 61902-61903]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 02-24848]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

ACTION: Notice.

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SUMMARY: Background. Notice is hereby given of the final approval of 
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-I's 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--Cindy Ayouch--Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829); OMB Desk Officer--Joseph Lackey--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503

SUPPLEMENTARY INFORMATION:

Final approval under OMB delegated authority of the extension for three 
years, without revision, of the following report:

    1. Report title: Recordkeeping, Reporting, and Disclosure 
Requirements in Connection with Regulation BB (Community Reinvestment 
Act)
    Agency form number: N/A
    OMB Control number: 7100-0197
    Frequency: Annually
    Reporters: State member banks
    Annual reporting hours: 159,160 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 and 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: 976
    Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. Sec. Sec.  248 (1) and 12 U.S.C. 2905 et seq.) and 
generally, the data that are reported to the Board are not considered 
onfidential.
    Abstract: On May 30, 2002, the Office of the Comptroller of the 
Currency (OCC), Board of Governors of the Federal Reserve (Board), 
Federal Deposit Insurance Corporation (FDIC), and Office of Thrift 
Supervision (OTS) published a joint request for comment on the proposed 
extension, without change, for OMB approval of the information 
collections contained in the CRA regulations (67 FR 37915). Pursuant to 
5 CFR 1320.16 this is a final notice announcing the Board's approval of 
the information collection. The Board is publishing a separate final 
notice but this notice is substantively similar to the notice to be 
published by the other Agencies.
    The Board did not receive any comments. However, the FDIC and OTS 
each received an identical comment from an academic. This commenter did 
not object to the proposed extension of OMB approval of the information 
collections contained in the CRA regulations. The commenter recommended 
that the Agencies (1) continue all existing data collection and 
reporting requirements; (2) maintain current public file requirements; 
and (3) do not consider or require any race data under CRA. Since these 
recommendations are not contrary to the proposed extension of OMB 
approval of the CRA information collections, the Agencies have not made 
any changes from the proposal in response to this comment.


[[Page 61630]]


    Board of Governors of the Federal Reserve System, September 25, 
2002.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 02-24848 Filed 9-30-02; 8:45 am]
BILLING CODE 6210-01-S