Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation BB

ICR 202104-7100-002

OMB: 7100-0197

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2021-04-20
ICR Details
7100-0197 202104-7100-002
Active 202010-7100-004
FRS FR BB
Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation BB
Extension without change of a currently approved collection   No
Delegated
Approved without change 04/20/2021
Retrieve Notice of Action (NOA) 04/20/2021
  Inventory as of this Action Requested Previously Approved
04/30/2024 36 Months From Approved 04/30/2021
1,404 0 1,404
75,116 0 75,116
0 0 0

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).

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
  
None

Not associated with rulemaking

  85 FR 80097 12/11/2020
86 FR 16730 03/31/2021
No

  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 1,404 1,404 0 0 0 0
Annual Time Burden (Hours) 75,116 75,116 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$677,300
No
    Yes
    No
No
No
No
No
Jennifer Williams 202 452-2446 jennifer.l.williams@frb.gov

  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.
04/20/2021


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