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]

=======================================================================

-----------------------------------------------------------------------

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.

-----------------------------------------------------------------------

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