Home Mortgage Disclosure — 1997-05-27 [97-13593]

The Board is publishing final revisions to Regulation C (Home Mortgage Disclosure). The revisions implement the amendments to the Home Mortgage Disclosure Act included in the Economic Growth and Regulatory Paperwork Reduction Act of 1996. The action makes final an interim rule adopted in January, which set the asset-exemption threshold for depository institutions at $28 million. The final rule also establishes an alternative way for institutions to provide disclosure statements in metropolitan areas where they have branch offices, which they may begin using immediately. In addition, the Board is extending its information collection authority under the Paperwork Reduction Act for another three years, and making technical amendments to the transmittal sheet accompanying the loan/application register.