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Mu/aJc •J 'W May 11, 1978 ; NOTICE Enclosed is a copy of a correction of a technical error appearing in a recent amendment to Regulation H (Membership of State Banking Institutions in the Federal Reserve System). The amendment, which was sent to you with our Circular No. 833U, dated April 28, 1978, reflects changes in the National Flood Insurance Program. The corrected language is printed in bold type. Circulars Division FEDERAL RESERVE BANK OF NEW YORK Board of Governors of the Federal Reserve System MEMBERSHIP OF STATE BANKING INSTITUTIONS IN THE FEDERAL RESERVE SYSTEM CORRECTION OF AM ENDM ENT TO REGULATION H ( effective A pril 20, 1978) Paragraph (1) of Appendix A — Sample Notices— is corrected to read as follows: A P P E N D I X A — S A M P L E NOTICES (1) Notice to Borrower of Special FloodHazards — Notice is hereby given to _____ -------- that the improved real estate or mobile home described in the attached instru ment is or will be located in an area designated by the Secretary of the Department of Hous ing and Urban Development as an area having special flood hazards. This area is delineated on ---------------- ’s Flood Insurance Rate Map (“F I R M ”) or, if the FIRM is un available, on the community’s Flood Hazard Boundary Map (“F H B M ”). This area has a 1 percent chance of being flooded within any given year. The risk of exceeding the 1 percent chance increases with time periods longer than one year. For example, during the life of a 30-year mortgage, a structure located in a spe cial flood-hazardous area has a 26 percent chance of being flooded. For this Regulation to be complete, retain : 1) Regulation H pamphlet, as amended effective March 18, 1969. 2) Amendments effective December 21, 1973; March 2, 1974; September 16, 1974; December 1, 1975; October 3, 1977; October 31, 1977; December 31, 1977; and April 20, 1978. 3) This slip sheet. PRINTED IN NEW YORK
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