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FDIC Federal Register Citations

[Federal Register: June 19, 1997 (Volume 62, Number 118)]
[Notices]               
[Page 33410]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr19jn97-51]
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FEDERAL DEPOSIT INSURANCE CORPORATION
 
Agency Information Collection Activities: Submission For OMB 
Review; Comment Request
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Notice of information collection to be submitted to OMB for 
review and approval under the Paperwork Reduction Act of 1995.
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SUMMARY: In accordance with requirements of the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it 
plans to submit to the Office of Management and Budget (OMB) a request 
for OMB review and approval of the information collection system 
described below.
    Type of Review: Revision of currently approved collection.
    Title: Fair Housing Lending Monitoring System.
    Form Number: None.
    OMB Number: 3064-0046.
    Annual Burden:
    Estimated annual number of respondents: 1,593.
    Estimated annual number of loan applications: 1,000,000.
    Time required to record and report each application: 5 minutes.
    1,000,000  x  5 minutes = 5,000,000 minutes or 83,333 annual burden 
hours.
    Expiration Date Of OMB Clearance: July 31, 1997.
    OMB Reviewer: Alexander T. Hunt, (202) 395-7860, Office of 
Management and Budget, Office of Information and Regulatory Affairs, 
Washington, DC 20503.
    FDIC Contact: Steven F. Hanft, (202) 898-3907, Office of the 
Executive Secretary, Room F-400, Federal Deposit Insurance Corporation, 
550 17th Street NW., Washington, DC 20429.
    Comments: Comments on this collection of information are welcome 
and should be submitted on or before July 21, 1997 to both the OMB 
reviewer and the FCIC contact listed above.
ADDRESSES: Information about this submission, including copies of the 
proposed collection of information, may be obtained by calling or 
writing the FDIC contact listed above.
SUPPLEMENTARY INFORMATION: The Board of Governors of the Federal 
Reserve System promulgated Regulation C, 12 CFR part 203, to implement 
the Home Mortgage Disclosure Act (HMDA), 12 U.S.C. 2801-2810. 
Regulation C requires depository institutions that meet its asset size 
jurisdictional thresholds to maintain data about home loan applications 
(the type of loan requested, the purpose of the loan, whether the loan 
was approved, and the type of purchaser if the loan was later sold), to 
update the information quarterly, and to report the information to 
their primary federal regulator annually. Regulation C applies to 
insured State nonmember banks supervised by the FDIC if those banks 
have assets exceeding a dollar threshold which is determined annually 
pursuant to a method required by 12 U.S.C. 2808(b) (for 1997 that 
number is $28 million). Banks may use a document known as the Loan 
Application Register (LAR) to comply with the information requirement. 
The FDIC uses the information to assist its examiners in determining 
that the banks it supervises comply with applicable provisions of HMDA. 
The data permit regulators and the public to detect possible instances 
of unlawful discrimination in connection with certain housing-related 
credit.
    Dated: June 13, 1997.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Deputy Executive Secretary.
[FR Doc. 97-16044 Filed 6-18-97; 8:45 am]
BILLING CODE 6714-01-M

Last Updated 06/19/1997 regs@fdic.gov