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(a) Reporting to
agency. (1) By March 1 following the calendar year for which
the loan data are compiled, a financial institution shall send its
complete loan/application register to the agency office specified in
Appendix A of this part. The institution shall retain a copy for its
records for at least three years.
(2) A subsidiary of a bank or savings association shall complete
a separate loan/application register. The subsidiary shall submit the
register, directly or through its parent, to the agency that
supervises its parent.
(b) Public disclosure of statement. (1) The Federal
Financial Institutions Examination Council (``FFIEC'') will prepare a
disclosure statement from the data each financial institution submits.
(2) An institution shall make its disclosure statement (prepared
by the FFIEC) available to the public at its home office no later than
three business days after receiving it from the FFIEC.
(3) In addition, an institution shall either:
(i) Make its disclosure statement available to the public, within
ten business days of receiving it, in at least one branch office in
each other metropolitan area where the institution has offices (the
disclosure statement need only contain data relating to the
metropolitan area where the branch is located); or
(ii) Post the address for sending written requests in the lobby
of each branch office in other metropolitan areas where the
institution has offices; and mail or deliver a copy of the disclosure
statement within fifteen calendar days of receiving a written request
(the disclosure statement need only contain data relating to the
metropolitan area for which the request is made). Including the
address in the general notice required under paragraph (e) of this
section satisfies this requirement.
(c) Public disclosure of modified loan/application register.
A financial institution shall make its loan/application register
available to the public after removing the following information
regarding each entry: the application or loan number, the date that
the application was received, and the date action was taken. An
institution shall make its modified register available following the
calendar year for which the data are compiled, by March 31 for a
request received on or before March 1, and within thirty calendar days
for a request received after March 1. The modified register need only
contain data relating to the metropolitan area for which the request
is made.
(d) Availability of data. A financial institution
shall make its modified register available to the public for a period
of three years and its disclosure statement available for a period of
five years. An institution shall make the data available for
inspection and copying during the hours the office is normally open to
the public for business. It may impose a reasonable fee for any cost
incurred in providing or reproducing the data.
(e) Notice of availability. A financial institution
shall post a general notice about the availability of its HMDA data in
the lobby of its home office and of each branch office located in a
metropolitan area. An institution shall provide promptly upon request
the location of the institution's offices where the statement is
available for inspection and copying, or it may include the location
in the lobby notice.
(f) Loan aggregation and central data depositories.
Using the loan data submitted by financial institutions, the FFIEC
will produce reports for individual institutions and reports of
aggregate data for each metropolitan area, showing lending patterns by
property location, age of housing stock, and income level, sex,
ethnicity, and race. These reports will be available to the public at
central data depositories located in each metropolitan area. A listing
of central data depositories can be obtained from the Federal
Financial Institutions Examination Council, Washington, D.C. 20006.
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