Recordkeeping Requirements Associated with the Real Estate Lending Standards Regulation for State Member Banks

Forms and Documents

Document Name	Status
FRH5_20180226_83c.pdf Justification for No Material/Nonsubstantive Change	2018-02-26

IC Document Collections

IC ID	Document Title	Status
36290	Maintain a policy statement	Modified
229841	Recordkeeping for loans with LTVs that exceed supervisory limits and maintaining a system of review	New
182672	Policy statement (de novo)	Modified

ICR Details

OMB Control No: 7100-0261	ICR Reference No: 201801-7100-007
Status: Historical Active	Previous ICR Reference No: 201408-7100-007
Agency/Subagency: FRS	Agency Tracking No: FR H-5
Title: Recordkeeping Requirements Associated with the Real Estate Lending Standards Regulation for State Member Banks
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: 02/26/2018
	Date Received in OIRA: 02/26/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2018	04/30/2018	04/30/2018
Responses	4,146	0	3,397
Time Burden (Hours)	20,745	0	17,000
Cost Burden (Dollars)	0	0	0

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Abstract: This information collection is a mandatory recordkeeping requirement contained in the Board’s Regulation H - Membership of State Banking Institutions in the Federal Reserve System (12 CFR 208.51) that implements section 304 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA). State member banks must adopt and maintain a written real estate lending policy that is reviewed and approved by the bank’s board of directors at least annually. Also, these banks must identify in their loan records loans in excess of the Board’s supervisory loan-to-value (LTV) limits. There is no formal reporting form and the information is not submitted to the Board.

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Authorizing Statute(s): US Code: 12 USC 1828(o) Name of Law: Federal Deposit Insurance Corporation Improvement 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:
	79 FR 43045	07/24/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 59263	10/01/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Maintain a policy statement
Policy statement (de novo)
Recordkeeping for loans with LTVs that exceed supervisory limits and maintaining a system of review

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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	4,146	3,397	0	0	749	0
Annual Time Burden (Hours)	20,745	17,000	0	0	3,745	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: The increase in burden hours reflects an update to the respondent count and an adjustment to include maintenance of a policy statement.

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Annual Cost to Federal Government: $0

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.     No

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? 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: 02/26/2018

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