Federal Deposit
Insurance Corporation

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FEDERAL DEPOSIT INSURANCE CORPORATION

Agency Information Collection Activities: Proposed Collection;
Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, 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 proposed and/or
continuing information collections, as required by the Paperwork
Reduction Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is
soliciting comments concerning an information collection titled ``Flood
Insurance.''

DATES: Comments must be submitted on or before March 12, 2002.

ADDRESSES: Interested parties are invited to submit written comments to
Tamara R. Manly, Management Analyst (Regulatory Analysis), (202) 898-
7453, Office of the Executive Secretary, Room F-4058, Attention:
Comments/OES,Federal Deposit Insurance Corporation, 550 17th Street
N.W., Washington, DC 20429. All comments should refer to ``Flood
Insurance.'' Comments may be hand-delivered to the guard station at the
rear of the 17th Street Building (located on F Street), on business
days between 7 a.m. and 5 p.m. [FAX number (202) 898-3838; Internet
address: comments@ fdic.gov]. Comments may also be submitted to the OMB
desk officer for the FDIC: Alexander Hunt, Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Tamara R. Manly, at the address
identified above.

SUPPLEMENTARY INFORMATION:

Proposal To Renew the Following Currently Approved Collection of
Information

Title: Flood Insurance.
OMB Number: 3064-0120.
Frequency of Response: On occasion.
Affected Public: Any depository institution whose borrower's loan
requests were secured by a building located on property in a special
flood hazard area.
Estimated Number of Respondents/Recordkeepers: 5,700.
Estimated Number of Transactions: 180,000.
Estimated Reporting Hours: .05 hours x 180,000 = 9,000.
Estimated Recordkeeping Hours: 5,700 hours.
Estimated Total Annual Reporting and Recordkeeping Burden Hours:
5,700 + 9,000 = 14,700 hours.
General Description of Collection: Each supervised lending
institution is currently required to provide a notice of special flood
hazards to a borrower acquiring a loan secured by a building on real
property located in an area identified by the Director of the Federal
Emergency Management Administration as being subject to special flood
hazards. The Riegle Community Development Act requires that each
institution must also provide a copy of the notice to the servicer of
the loan (if different from the originating lender).

Request for Comment

Comments are invited on: (a) Whether the collection of information
is necessary for the proper performance of the FDIC's functions,
including whether the information has practical utility; (b) the
accuracy of the estimates of the burden of the information collection,
including the validity of the methodology and assumptions used; (c)
ways to enhance the quality, utility, and clarity of the information to
be

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collected; and (d) ways to minimize the burden of the information
collection on respondents, including through the use of automated
collection techniques or other forms of information technology.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the
collection should be modified prior to submission to OMB for review and
approval. Comments submitted in response to this notice also will be
summarized or included in the FDIC's requests to OMB for renewal of
this collection. All comments will become a matter of public record.

Dated at Washington, DC, this 3rd day of January, 2002.