Proposed Modification of Loan Application Register - To Prepare for Year 2000 Data Systems Conversion
To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
The following is from a statement by the Board of Governors of the Federal Reserve System:
The Federal Reserve Board has published for comment proposed amendments to its Regulation C, Home Mortgage Disclosure. Comments are requested by April 27.
The proposed amendments would modify the Loan Application Register to prepare for the Year 2000 data systems conversion. The proposed amendments would require institutions to enter the date of application and the date action was taken using four digits for the year as opposed to two digits. The proposal also deletes the requirement to report the institution's parent company on the Transmittal Sheet, and makes other technical changes.
The Board's proposal, as published in the Federal Register of February 25 is available as a file (pdf - 209kb). Comments should be submitted to the Board, as specified in the notice, by April 27, 1998.