Notice2025-05647
Proposed Agency Information Collection Activities; Comment Request
Primary source
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Published
April 2, 2025
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Recordkeeping and Disclosure Requirements Associated with Regulation H (Loans Secured by Real Estate Located in Flood Hazard Areas) (FR H-2; OMB No. 7100-0280).
Full Text
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<title>Federal Register, Volume 90 Issue 62 (Wednesday, April 2, 2025)</title>
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[Federal Register Volume 90, Number 62 (Wednesday, April 2, 2025)]
[Notices]
[Pages 14443-14444]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-05647]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
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SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Recordkeeping and Disclosure Requirements Associated with
Regulation H (Loans Secured by Real Estate Located in Flood Hazard
Areas) (FR H-2; OMB No. 7100-0280).
DATES: Comments must be submitted on or before June 2, 2025.
ADDRESSES: You may submit comments, identified by FR H-2, by any of the
following methods:
<bullet> Agency Website: <a href="https://www.federalreserve.gov/">https://www.federalreserve.gov/</a>. Follow
the instructions for submitting comments, including attachments.
Preferred method.
<bullet> Mail: Ann E. Misback, Secretary, Board of Governors of the
Federal Reserve System, 20th Street and Constitution Avenue NW,
Washington, DC 20551.
<bullet> Hand Delivery/Courier: Same as mailing address.
<bullet> Other Means: <a href="/cdn-cgi/l/email-protection#6f1f1a0d03060c0c0002020a011b1c2f091d0d41080019"><span class="__cf_email__" data-cfemail="b4c4c1d6d8ddd7d7dbd9d9d1dac0c7f4d2c6d69ad3dbc2">[email protected]</span></a>. You must include the
OMB number or the FR number in the subject line of the message.
Comments received are subject to public discosure. In general,
comments received will be made available on the Board's website at
<a href="https://www.federalreserve.gov/apps/proposals/">https://www.federalreserve.gov/apps/proposals/</a> without change and will
not be modified to remove personal or business information including
confidential, contact, or other identifying information. Comments
should not include any information such as confidential information
that would be not appropriate for public disclosure. Public comments
may also be viewed electronically or in person in Room M-4365A, 2001 C
St. NW, Washington, DC 20551, between 9 a.m. and 5 p.m. during Federal
business weekdays.
Additionally, commenters may send a copy of their comments to the
Office of Management and Budget (OMB) Desk Officer for the Federal
Reserve Board, Office of Information and Regulatory Affairs, Office of
Management and Budget, New Executive Office Building, Room 10235, 725
17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.
FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of
Governors of the Federal Reserve System, <a href="/cdn-cgi/l/email-protection#127c677a733c777e7f73757a6073707b527460703c757d64"><span class="__cf_email__" data-cfemail="93fde6fbf2bdf6fffef2f4fbe1f2f1fad3f5e1f1bdf4fce5">[email protected]</span></a>, (202)
452-3884.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board
authority under the Paperwork Reduction Act (PRA) to approve and assign
OMB control numbers to collections of information conducted or
sponsored by the Board. In exercising this delegated authority, the
Board is directed to take every reasonable step to solicit comment. In
determining whether to approve a collection of information, the Board
will consider all comments received from the public and other agencies.
During the comment period for this proposal, a copy of the proposed
PRA OMB submission, including the draft reporting form and
instructions, supporting statement (which contains
[[Page 14444]]
more detail about the information collection and burden estimates than
this notice), and other documentation, will be made available on the
Board's public website at <a href="https://www.federalreserve.gov/apps/reportingforms/review">https://www.federalreserve.gov/apps/reportingforms/review</a> or may be requested from the agency clearance
officer, whose name appears above. On the page displayed at the link
above, you can find the supporting information by referencing the
collection identifier, FR H-2. Final versions of these documents will
be made available at <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>, if
approved.
Request for Comment on Information Collection Proposal
The Board invites public comment on the following information
collection, which is being reviewed under authority delegated by the
OMB under the PRA. Comments are invited on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Board's functions, including whether the
information has practical utility;
b. The accuracy of the Board's estimate of the burden of the
proposed information collection, including the validity of the
methodology and assumptions used;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of information collection on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
e. Estimates of capital or startup costs and costs of operation,
maintenance, and purchase of services to provide information.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the Board
should modify the proposal.
Proposal Under OMB Delegated Authority To Extend for Three Years,
Without Revision, the Following Information Collection
Collection title: Recordkeeping and Disclosure Requirements
Associated with Regulation H (Loans Secured by Real Estate Located in
Flood Hazard Areas).
Collection identifier: FR H-2.
OMB control number: 7100-0280.
General description of collection: The federal flood insurance
statutes and Regulation H--Membership of State Banking Institutions in
the Federal Reserve System (12 CFR part 208) provide that a lender
shall not make, increase, extend, or renew a loan secured by a building
or mobile home located in a special flood hazard area unless the
secured property is covered by flood insurance for the term of the
loan. With respect to the recordkeeping and disclosure provisions,
Regulation H generally requires state member banks to retain certain
flood hazard documentation and to notify borrowers and servicers
regarding properties in flood hazard areas and requirements related to
flood insurance. State member banks also must notify the Federal
Emergency Management Agency of the identity of, and any change in, the
servicer of a loan secured by improved property in a special flood
hazard area. The information collection requirements under the flood
hazard provisions of Regulation H are triggered by specific events in
the lending process.
Frequency: Event-generated.
Respondents: State member banks or servicers acting on their
behalf.
Total estimated number of respondents: 706.
Total estimated annual burden hours: 33,983.
Board of Governors of the Federal Reserve System, March 28,
2025.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2025-05647 Filed 4-1-25; 8:45 am]
BILLING CODE 6210-01-P
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