The burden was
reduced by statutory directive. ICR has been edited to
reflect.
Inventory as of this Action
Requested
Previously Approved
06/30/2007
6 Months From Approved
03/31/2009
7,600
0
7,600
332,500
0
334,858
0
0
0
National banks file reports pursuant
to 12 U.S.C. 161 and other statutes. Data are used to evaluate and
monitor the financial condition and earnings performance of
individual banks as well as the entire banking industry. 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 this 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. As discussed by the FRB with Alex Hunt, 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.
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 this 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. As discussed
by the FRB with Alex Hunt, 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. Emergency review is necessary
in order to make the change effective for the December 31, 2006
report date.
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 this 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.
$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.