This dropping of
part of an information collection is a substantive change in an
existing collection. (This is so despite the fact that the change
is mandated by statute and reduces the paperwork burden.) We will
be willing to entertain an emergency request for such a revision of
the collection.
Inventory as of this Action
Requested
Previously Approved
03/31/2009
03/31/2009
03/31/2009
7,600
0
7,600
334,858
0
334,858
0
0
0
The Financial Services Regulatory
Relief Act of 2006, which was signed into law on October 13, 2006,
eliminates certain insider lending reporting requirements imposed
on insured depository institutions and their insiders.
As a result of the new
legislation, the banking agencies need to eliminate the last page
of these reporting forms. The burden associated with these data are
15 minutes per quarter. The agencies will advise the public of the
elimination of the reporting requirement in the final Federal
Register notice announcing the proposed changes for 2007. In
addition, the agencies will send a letter to financial institutions
informing them that the data do not need to be reported effective
for the December 31, 2006 as-of date.
$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Gary Christensen 202
874-4482
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.