83 FR 3347 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 16 (January 24, 2018)

The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Recordkeeping Requirements Associated with the Real Estate Lending Standards Regulation for State Member Banks (Reg H-5; OMB No. 7100- 0261).

[Federal Register Volume 83, Number 16 (Wednesday, January 24, 2018)]
[Notices]
[Pages 3347-3348]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-01235]


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FEDERAL RESERVE SYSTEM


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

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, without revision, the 
Recordkeeping Requirements Associated with the Real Estate Lending 
Standards Regulation for State Member Banks (Reg H-5; OMB No. 7100-
0261).

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202) 
452-3829. Telecommunications Device for the Deaf (TDD) users may 
contact (202) 263-4869, Board of Governors of the Federal Reserve 
System, Washington, DC 20551.
    OMB Desk Officer--Shagufta Ahmed--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503 
or by fax to (202) 395-6974.

SUPPLEMENTARY INFORMATION: On June 15, 1984, the Office of Management 
and Budget (OMB) delegated to the Board authority under the Paperwork 
Reduction Act (PRA) to approve of and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. Copies of the Paperwork Reduction Act 
Submission, 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.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following report:
    Report title: Recordkeeping Requirements Associated with the Real 
Estate Lending Standards Regulation for State Member Banks.
    Agency form number: Reg H-5.
    OMB control number: 7100-0261.
    Frequency: Policy statement, annually; policy statement (de novo), 
annually; recordkeeping for loans with LTV's that exceed supervisory 
limits and maintaining a system of review, quarterly.
    Respondents: State member banks.
    Estimated number of respondents: 829.
    Estimated average hours per response: Policy statement, 5 hours; 
policy statement (de novo), 20 hours; recordkeeping for loans with 
LTV's that exceed supervisory limits and maintaining a system of 
review, 5 hours.
    Estimated annual burden hours: Policy statement, 4,145 hours; 
policy statement (de novo), 20 hours; recordkeeping for loans with 
LTV's that exceed supervisory limits and maintaining a system of 
review, 16,580 hours.
    General Description of Report: State member banks must adopt and 
maintain

[[Page 3348]]

a written real estate lending policy that is reviewed and approved by 
the bank's board of directors at least annually. Also, these banks must 
identify in their loan records loans in excess of the Board's 
supervisory loan-to-value (LTV) limits.
    Legal authorization and confidentiality: The Board has determined 
that section 304 of Federal Deposit Insurance Corporation Improvement 
Act of 1991 (12 U.S.C. 1828(o)) authorizes the Federal Reserve to 
require the recordkeeping requirements associated with the Board's 
Regulation H (12 CFR 208.51). The obligation of state member banks to 
comply with the Reg H recordkeeping requirements is mandatory. Since 
the information is not collected by the Federal Reserve, no issue of 
confidentiality under the Freedom of Information Act (FOIA) normally 
arises. However, information gathered by the Federal Reserve during 
examinations of state member banks would be deemed exempt from FOIA 
disclosure by exemption 8 (5 U.S.C. 552(b)(8)). In addition, exemptions 
(b)(4) and (b)(6) of FOIA, (5 U.S.C. 552(b)(4) and (b)(6)) also may 
exempt from disclosure certain data (specifically, individual loans 
identified as in excess of supervisory LTV limits) collected in 
response to these requirements if gathered by the Federal Reserve, 
depending on the particular circumstances. These additional exemptions 
relate to confidential commercial and financial information and 
personal information, respectively. Applicability of these exemptions 
would be determined on a case-by-case basis.
    Current actions: On September 27, 2017, the Board published a 
notice in the Federal Register (82 FR 45025) requesting public comment 
for 60 days on the extension, without revision, of the Recordkeeping 
Requirements Associated with the Real Estate Lending Standards 
Regulation for State Member Banks (Reg H-5). The comment period for 
this notice expired on November 27, 2017. The Board did not receive any 
comments.

    Board of Governors of the Federal Reserve System, January 19, 
2018.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2018-01235 Filed 1-23-18; 8:45 am]
 BILLING CODE 6210-01-P