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
Type of Review: Revision of currently approved collection.
Title: Fair Housing Lending Monitoring System.
Form Number: None.
OMB Number: 3064-0046.
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
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
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