Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation BB

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
FRBB_20240419_omb.pdf	Supporting Statement A	Uploaded 2024-04-19	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
36205	Reporting Section 228.14(b)(1) Request for confirmation of eligibility		Modified
267058	Disclosure Sections 228.43 and 228.44 Content and availability of public file and Public notice by banks		New
267013	Recordkeeping Section 228.42(a)(7) Deposits data		New
267012	Recordkeeping Section 228.42(a)(6) Community development services data		New
267010	Recordkeeping Section 228.42(a)(5) Community development loan and community development investment data		New
267009	Recordkeeping Section 228.42(a)(4) Retail banking services and retail banking products data		New
267008	Recordkeeping Section 228.42(a)(3) Home mortgage loans		New
266950	Recordkeeping Section 228.42(a)(2) Consumer loan data - automobile loans		New
185664	Recordkeeping Section 228.42(a)(1) Small business and small farm loan data		Modified
185663	Reporting Section 228.42(f)(2) Retail lending assessment areas		Modified
185662	Reporting Section 228.42(f)(1) Facility-based assessment areas data		Modified
185654	Reporting Section 228.42(e) Data on community development financing by a consortium or a third party		Modified
185653	Reporting Section 228.42(d) Data on other affiliates		Modified
185584	Reporting Section 228.42(c) Data on operations subsidiaries/operating subsidiaries		Modified
185583	Reporting Section 228.42(b)(3) Deposits data		Modified
185582	Reporting Section 228.42(b)(2) Community development loan and community development investment data		Modified
185581	Reporting Section 228.42(b)(1) Small business and small farm loan data		Modified
185580	Reporting Section 228.27 Strategic plan		Modified
185579	Reporting Section 228.26 Limited purpose banks		Modified

ICR Details

OMB Control No: 7100-0197	ICR Reference No: 202403-7100-005
Status: Active	Previous ICR Reference No: 202104-7100-002
Agency/Subagency: FRS	Agency Tracking No: FR BB
Title: Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation BB
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/19/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 04/19/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2027	36 Months From Approved	04/30/2024
Responses	1,950	0	1,404
Time Burden (Hours)	105,455	0	75,116
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 - Community Reinvestment (12 CFR Part 228). The CRA directs the Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency (collectively, the agencies) to evaluate financial institutions’ (banks and savings associations) 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 agencies. The Board’s regulation applies to state member banks (SMBs).

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Authorizing Statute(s): US Code: 12 USC 2905 Name of Law: Community Reinvestment Act of 1977
   US Code: 12 USC 248(a)(1) Name of Law: Federal Reserve Act
   US Code: 12 USC 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:
7100-AG29	Final or interim final rulemaking	89 FR 6574	02/01/2024

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 33884	06/03/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 6574	02/01/2024
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 19

table that charts list of burden

IC Title	Form No.	Form Name
Disclosure Sections 228.43 and 228.44 Content and availability of public file and Public notice by banks
Recordkeeping Section 228.42(a)(1) Small business and small farm loan data
Recordkeeping Section 228.42(a)(2) Consumer loan data - automobile loans
Recordkeeping Section 228.42(a)(3) Home mortgage loans
Recordkeeping Section 228.42(a)(4) Retail banking services and retail banking products data
Recordkeeping Section 228.42(a)(5) Community development loan and community development investment data
Recordkeeping Section 228.42(a)(6) Community development services data
Recordkeeping Section 228.42(a)(7) Deposits data
Reporting Section 228.14(b)(1) Request for confirmation of eligibility
Reporting Section 228.26 Limited purpose banks
Reporting Section 228.27 Strategic plan
Reporting Section 228.42(b)(1) Small business and small farm loan data
Reporting Section 228.42(b)(2) Community development loan and community development investment data
Reporting Section 228.42(b)(3) Deposits data
Reporting Section 228.42(c) Data on operations subsidiaries/operating subsidiaries
Reporting Section 228.42(d) Data on other affiliates
Reporting Section 228.42(e) Data on community development financing by a consortium or a third party
Reporting Section 228.42(f)(1) Facility-based assessment areas data
Reporting Section 228.42(f)(2) Retail lending assessment areas

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ICR Summary of Burden

table that charts list 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	1,950	1,404	0	546	0	0
Annual Time Burden (Hours)	105,455	75,116	0	30,339	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The estimated total annual burden for the FR BB is 75,116 hours, and would increase to 105,455 hours with the revisions.

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Annual Cost to Federal Government: $677,300

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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? No

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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: 04/19/2024

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