§ 203.5 Disclosure and reporting requirements.

(a) Time requirements for disclosure statements. A depository institution shall make its loan data disclosure statements available to the public by March 31 following the calendar year for which the data were compiled, and shall continue to make them available for five years from that date.

(b) Offices at which disclosure statements are to be made available. (1) A depository institution shall make a complete disclosure statement available at its home office.

(2) A depository institution shall also make a disclosure statement available in at least one branch office in each SMSA where it has offices, other than the SMSA in which the home office is located. The statement at a branch office may omit, at the option of the institution, all data other than the data relating to property located in the SMSA where that branch is located.

(3) Upon request, a depository institution shall promptly provide information regarding the office(s) of the institution where its disclosure statements are available.

(c) Manner of making disclosure statements available. A depository institution shall make its loan data disclosure statements available to anyone requesting them for inspection or copying during the hours the office is normally open to the public for business. A depository institution that provides photocopying facilities may impose a reasonable charge for this service.

(d) Notice of availability. A depository institution shall provide notice of the availability of its mortgage loan data by posting a notice in the lobbies of its home and branch offices that are located in SMSAs.

(e) Reporting requirements. For purposes of data aggregation, a depository institution shall send two copies of its complete disclosure statement to the regional office of its enforcement agency by March 31 following the calendar year for which the data were compiled.

§ 203.6 Administrative enforcement and sanctions for violations.

(a) Administrative enforcement. As set forth more fully in sections 305(b) and 306(b) of the act, compliance with the act and this regulation is enforced by the Comptroller of the Currency, the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board, and the National Credit Union Administration.

(b) Sanctions for violations. (1) A violation of the act or this regulation is subject to administrative sanctions as provided in section 305(c) of the act.

(2) An error in compiling or disclosing required data is not considered a violation of the act or this regulation if the error was unintentional and resulted from a bona fide mistake despite the maintenance of procedures reasonably adapted to avoid such an

error.

APPENDIX A-FEDERAL ENFORCEMENT AGENCIES

The following list indicates which federal agency enforces Regulation C for particular classes of institutions. Any questions concerning compliance by a particular institution should be directed to the appropriate enforcing agency.

National Banks

Comptroller of the Currency, Office of Customer and Community Programs, Washington, D.C. 20219

State Member Banks

Federal Reserve Bank Serving the district in which the state member bank is located.

Nonmember Insured Banks and Mutual Savings Banks

Federal Deposit Insurance Corporation Regional Director for the region in which the bank is located.

Savings Institutions Insured by the FSLIC and Members of the FHLB System (except for Savings Banks insured by FDIC)

The Federal Home Loan Bank Board Supervisory Agency in the district in which the institution is located.

Credit Unions

Office of Consumer Affairs, National Credit Union Administration, 1776 G Street, N.W., Washington, D.C. 20456

Other Depository Institutions

Federal Deposit Insurance Corporation Regional Director for the region in which the institution is located.

APPENDIX B-STATE EXEMPTIONS

(a) Application. Any state,1 state-chartered depository institution, or association of such depository institutions may apply to the Board pursuant to this appendix and the Board's Rules of Procedure (12 CFR 262) for an exemption under § 203.3(b). Such an exemption requires a determination that a state-chartered depository institution is subject to state law requirements 2 substantially similar to those imposed by this regulation, and that there is adequate provision for enforcement of those requirements.

(b) Supporting documents. The application, which may be made by letter, shall include:

(1) A copy of the full text of the relevant state law, including provisions for enforcement;

(2) A statement of reasons why the state requirements are substantially similar to those imposed by the act and this regulation, including an explanation why any differences are not significant; and

(3) An undertaking to inform the Board within 30 days of the occurrence of any change in the relevant state law.

(c) Public notice of filing. The Board will publish in the FEDERAL REGISTER notice of the filing of an application that complies with the above requirements. A copy of the application will be made available for examination during business hours at the Board and at the Federal Reserve Bank of each Federal Reserve District in which the applicant is situated. The Board will provide a period of time for interested persons to submit written comments. For multiple applications concerning the same state law, the Board may (1) consolidate the notice of receipt of all such applications in one FEDERAL REGISTER notice, and (2) dispense with

""State" includes any subdivision of a state.

2"State law" includes any regulations which implement the law, any official interpretations of the law, and regulations of a state agency or department that has jurisdiction over a class(es) of depository institutions.

publication of notice of applicatio quently received.

(d) Grant of exemption. If the E termines that some or all state-c depository institutions are subjec quirements substantially similar imnposed by this regulation, and th is adequate provision for enforcem Board will exempt such institution the requirements of this regulation as specified in section 203.3(b) by pu notice of the exemption in the FEDE ISTER. The Board also will furnish a the notice to the applicant, to each thority responsible for administra forcement of the state law, to the tory authorities specified in section of the act, and to each participan proceeding.

(e) Subsequent amendments; revoc exemption. (1) The Board will inf appropriate state official of any sub amendments to this regulation (in published interpretations of the Boa might require amendment of the st The Board may require reapplicatio exemption.

(2) The Board reserves the right to an exemption if at any time it det that state law does not in fact imp quirements substantially similar to imposed by this regulation, or that not in fact adequate provision for e ment.

(3) The Board will publish notice intent to revoke an exemption in the AL REGISTER and will send the notice appropriate state official. The Boa allow time after publication for int persons to submit written comments.

(4) If an exemption is revoked, the will publish notice of the revocation FEDERAL REGISTER and will send a c the notice to the appropriate state and to the regulatory authorities sp in section 305(b) of the act.

(5) The Board may dispense with th cedures set forth in this section in an in which it finds such procedures un sary.

APPENDIX C-MORTGAGE LOAN DISCLOSURE STATEMENT (HMDA

APPENDIX C

1. Do not report loans that, although secured by real estate,
are made for purposes other than the purchase of residen-
tial real estate or home improvement (for example, a loan
secured by residential real property for purposes of finan-
cing education, a vacation, or business operations).

2. Also exclude from disclosure: construction loans and
other temporary financing; loans made or purchased by
the institution acting in a fiduciary capacity (by the in-
stitution's trust department, for example); loans on unim-
proved land; and refinancings of loans originated by the
Institution that involve no increase in the outstanding
principal (provided the parties to the loan remain the
same).

The Institution should indicate on the statement whether
It has used 1970 or 1980 census tracts. An institution us-
Ing 1970 census tracts for a given SMSA must use them
for the entire calendar year, even if the PHC80-2 maps for
that SMSA become available during the year.)

4. If the property to which the loan relates is located outside
SMSAs in which the reporting institution has a home or
branch office, or outside any SMSA, the loan data should
be listed as an aggregate sum in Section 2 of the form; no
geographic itemization is necessary.

5. Institutions that have a home or branch office in the New
York City/New Jersey SMSA should note that there are
duplicate census tract numbers in New York City. There
may also be duplicate numbers in other SMSAS. When
reporting loan data relating to property in these SMSAS,
the institutions must indicate the county name in addition
to the tract number.

FHA, FmHA, and VA loans on 1-to-4 family dwellings. This category includes loans that are secured by liens (both first and junior liens) and that are made for the purpose of purchasing residential real property and that have FHA, FmHA, and VA insurance or guarantee. It includes refinancings (but see Item 2 under DATA TO BE EXCLUDED). It may include, at an institution's option, first lien loans for home improvement purposes if the institution normally classifies first lien loans as purchase loans. It does not Include FHA Title I loans, which are to be entered in column C.

SECTION 1-LOANS ON PROPERTY LOCATED WITHIN THOSE SMSAS IN WHICH INSTITUTION HAS HOME OR BRANCH OFFICES