[Federal Register Volume 85, Number 240 (Monday, December 14, 2020)]
[Notices]
[Pages 80788-80789]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-27372]


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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 without revision, the Recordkeeping 
Requirements Associated with the Real Estate Lending Standards 
Regulation for State Member Banks (FR 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. Office of Management and Budget 
(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, OMB delegated to the Board 
authority under the PRA to approve and assign OMB control numbers to 
collections of information conducted or sponsored by the Board. Board-
approved collections of information are incorporated into the official 
OMB inventory of currently approved collections of information. The OMB 
inventory, as well as copies of the PRA Submission, supporting 
statements, and approved collection of information instrument(s) are 
available at https://www.reginfo.gov/public/do/PRAMain. These documents 
are also available on the Federal Reserve Board's public website at 
https://www.federalreserve.gov/apps/reportforms/review.aspx or may be 
requested from the agency clearance officer, whose name appears above.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Information Collection

    Report title: Recordkeeping Requirements Associated with the Real 
Estate Lending Standards Regulation for State Member Banks.
    Agency form number: FR H-5.
    OMB control number: 7100-0261.
    Frequency: Policy statement, annually; policy statement (de novo), 
annually; recordkeeping for loans with loan-to-value (LTV's) that 
exceed supervisory limits and maintaining a system of review, 
quarterly.
    Respondents: State member banks.
    Estimated number of respondents: 754.
    Estimated average hours per response: Policy statement, 5; policy 
statement (de novo), 20; recordkeeping for loans with LTV's that exceed 
supervisory limits and maintaining a system of review, 5.
    Estimated annual burden hours: Policy statement, 3,770; policy 
statement (de novo), 20; recordkeeping for loans with LTV's that exceed 
supervisory limits and maintaining a system of review, 15,080.
    General description of report: Pursuant to the Board's Regulation 
H, state member banks (SMBs) must adopt and maintain a written real 
estate lending policy. Additionally, this information collection 
includes certain voluntary recordkeeping provisions in the Interagency 
Guidelines for Real Estate Lending Policies (Guidelines).\1\
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    \1\ See 12 CFR part 208, Appendix C.
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    Legal authorization and confidentiality: The FR H-5 is authorized 
by section 304 of the Federal Deposit Insurance Corporation Improvement 
Act of 1991 (FDICIA),\2\ which provides that ``each appropriate Federal 
banking agency shall adopt uniform regulations prescribing standards 
for extensions of credit that are--(A) secured by liens on interests in 
real estate; or (B) made for the purpose of financing the construction 
of a building or other improvements to real estate.'' \3\ The 
recordkeeping requirement contained in the Board's Regulation H is 
mandatory. The recordkeeping provisions in the Guidelines are 
voluntary, as the Guidelines are nonbinding guidance.
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    \2\ 12 U.S.C. 1828(o).
    \3\ 12 U.S.C. 1828(o)(1). The Board also has the authority to 
require reports from state member banks (12 U.S.C. 248(a) and 324).
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    Because these records would be maintained at each banking 
organization, the Freedom of Information Act (``FOIA'') would only be 
implicated if the Board obtained such records as part of the 
examination or supervision of a banking organization. In the event the 
records are obtained by the Board as part of an examination or 
supervision of a financial institution, this information may be 
considered confidential pursuant to exemption 8 of the FOIA, which 
protects information

[[Page 80789]]

contained in ``examination, operating, or condition reports'' obtained 
in the bank supervisory process.\4\ In addition, the information may 
also be kept confidential under exemption 4 of the FOIA, which protects 
``commercial or financial information obtained from a person [that is] 
privileged or confidential.'' \5\
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    \4\ 5 U.S.C. 552(b)(8).
    \5\ 5 U.S.C. 552(b)(4).
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    Current actions: On August 21, 2020, the Board published an initial 
notice in the Federal Register (85 FR 51716) requesting public comment 
for 60 days on the extension, without revision, of the FR H-5. The 
comment period for this notice expired October 20, 2020.The Board did 
not receive any comments.

    Board of Governors of the Federal Reserve System, December 8, 
2020.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2020-27372 Filed 12-11-20; 8:45 am]
BILLING CODE 6210-01-P