Recordkeeping, Reporting, and Disclosure Requirements in Connection with Regulation BB (Community Reinvestment Act)

Forms and Documents

Document Name	Status
Reg BB_20141219_83c.pdf Justification for No Material/Nonsubstantive Change	2014-12-19

IC Document Collections

IC ID	Document Title	Status
36205	Small business and small farm loan register	Modified
185664	Public file	Modified
185663	Request for designation as a wholesale or limited purpose bank	Unchanged
185662	Strategic plan	Unchanged
185654	Data on lending by a consortium or third party	Modified
185653	Affiliate lending data	Modified
185584	Loan Data: HMDA out of MSA	Modified
185583	Loan Data: Community development	Modified
185582	Loan Data: Small business and small farm	Modified
185581	Assessment area delineation	Modified
185580	Other loan data	Modified
185579	Consumer loan data	Modified

ICR Details

OMB Control No: 7100-0197	ICR Reference No: 201412-7100-011
Status: Historical Active	Previous ICR Reference No: 201107-7100-002
Agency/Subagency: FRS	Agency Tracking No: Regulation BB (CRA)
Title: Recordkeeping, Reporting, and Disclosure Requirements in Connection with Regulation BB (Community Reinvestment Act)
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/19/2014
	Date Received in OIRA: 12/19/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2015	36 Months From Approved	04/30/2015
Responses	1,279	0	1,203
Time Burden (Hours)	50,279	0	52,127
Cost Burden (Dollars)	0	0	0

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Abstract: Regulation BB implements the Community Reinvestment Act and is designed to encourage banks to help meet the credit needs of their communities.

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Authorizing Statute(s): US Code: 12 USC 2905 Name of Law: Community Reinvestment Act
   US Code: 12 USC 248(1) Name of Law: Federal Reserve Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 43686	07/21/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 62806	10/11/2011
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 12

IC Title	Form No.	Form Name
Affiliate lending data
Public file
Data on lending by a consortium or third party
Small business and small farm loan register
Strategic plan
Request for designation as a wholesale or limited purpose bank
Consumer loan data
Assessment area delineation
Loan Data: Small business and small farm
Loan Data: HMDA out of MSA
Other loan data
Loan Data: Community development

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	1,279	1,203	0	0	76	0
Annual Time Burden (Hours)	50,279	52,127	0	0	-1,848	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Net decrease in burden reflects an increase in the respondent panel that is off-set by a shift of several respondents to lower burden per response reporting and recordkeeping requirements.

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Annual Cost to Federal Government: $946,964

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 12/19/2014

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