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

Forms and Documents

Document Name	Status
RegBB_20150430_omb.pdf Supporting Statement A	2015-04-30

IC Document Collections

IC ID	Document Title	Status
36205	Small business and small farm loan register (Section 228.42(a))	Modified
185664	Public file (Section 228.43 and 228.44)	Modified
185663	Request for designation as a wholesale or limited purpose bank (Section 228.25(b))	Modified
185662	Strategic plan (Section 228.27)	Modified
185654	Data on lending by a consortium or third party (Section 228.42(e))	Modified
185653	Affiliate lending data (Section 228.42(d))	Modified
185584	Loan Data - HMDA out of MSA (Section 228.42(b))	Modified
185583	Loan Data - Community development (Section 228.42(b))	Modified
185582	Loan Data - Small business and small farm (Section 228.42(b))	Modified
185581	Assessment area delineation (Sections 228.41 and 228.42(g))	Modified
185580	Other loan data (Section 228.42(c))	Modified
185579	Consumer loan data (Section 228.42(c))	Modified

ICR Details

OMB Control No: 7100-0197	ICR Reference No: 201504-7100-004
Status: Historical Active	Previous ICR Reference No: 201412-7100-011
Agency/Subagency: FRS	Agency Tracking No: Reg BB
Title: Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation BB (Community Reinvestment Act)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/30/2015
	Date Received in OIRA: 04/30/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2018	36 Months From Approved	04/30/2015
Responses	1,279	0	1,279
Time Burden (Hours)	50,279	0	50,279
Cost Burden (Dollars)	0	0	0

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Abstract: The Community Reinvestment Act (CRA) was enacted in 1977 and is implemented by Regulation BB. The CRA directs the federal banking agencies to evaluate financial institutions' records of helping to meet the credit needs of their entire communities, including low- and moderate-income areas consistent with the safe and sound operation of the institutions. The CRA is implemented through regulations issued by the federal banking agencies.

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Authorizing Statute(s): US Code: 12 USC 2905 Name of Law: Community Reinvestment Act
   US Code: 12 USC 248(a)(1) and 325 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:
	80 FR 4571	01/28/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 22186	04/21/2015
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
Public file (Section 228.43 and 228.44)
Affiliate lending data (Section 228.42(d))
Data on lending by a consortium or third party (Section 228.42(e))
Small business and small farm loan register (Section 228.42(a))
Strategic plan (Section 228.27)
Request for designation as a wholesale or limited purpose bank (Section 228.25(b))
Consumer loan data (Section 228.42(c))
Assessment area delineation (Sections 228.41 and 228.42(g))
Loan Data - Small business and small farm (Section 228.42(b))
Loan Data - HMDA out of MSA (Section 228.42(b))
Other loan data (Section 228.42(c))
Loan Data - Community development (Section 228.42(b))

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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	1,279	0	0	0	0
Annual Time Burden (Hours)	50,279	50,279	0	0	0	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:

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Annual Cost to Federal Government: $1,184,933

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: 04/30/2015

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