Transmittal Archive

The Board, the Farm Credit Administration, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency are reorganizing, revising, and expanding the Interagency Questions and Answers Regarding Flood Insurance. More... The revised questions and answers (Q&As) will assist lenders in meeting their responsibilities under federal flood insurance law and increase public understanding of the agencies’ respective flood insurance regulations. Significant topics addressed by the revisions include guidance related to major amendments to the flood insurance laws with regard to the escrow of flood insurance premiums, the detached structure exemption, force placement procedures, and the acceptance of flood insurance policies issued by private insurers. With this issuance, the agencies are consolidating the Q&As proposed by the agencies in July 2020 and March 2021. The guidance was issued on May 11, 2022 (Interagency Questions and Answers Regarding Flood Insurance, Docket OP-1720) and was published in the Federal Register on May 31, 2022.

Pursuant to the provisions of the Privacy Act of 1974, notice was given that the Board proposes to modify existing system of records BGFRS-30 “FRB—Academic Assistance Program Files” to reflect the outsourcing of Academic Assistance Program administration. More... BGFRS-30 includes applications for academic assistance and related documents in addition to documents relating to requests for exceptions to the Academic Assistance Policy. The modified system of records will become effective June 23, 2022, without further notice, unless comments dictate otherwise (Rules Regarding Access to Personal Information under the Privacy Act of 1974, Systems of Records of the Federal Reserve System). The modified system of records was published in the Federal Register on May 24, 2022.