Appraisal Subcommittee; Notice of Received Request for a Temporary Waiver, 25052-25053 [2019-11282]

Download as PDF 25052 Federal Register / Vol. 84, No. 104 / Thursday, May 30, 2019 / Notices the state of the market. In short, this collection helps foster competition in local telecommunications markets by ensuring that competing telecommunications providers can provide services to customers in multiple tenant environments. Federal Communications Commission. Marlene Dortch, Secretary, Office of the Secretary. [FR Doc. 2019–11269 Filed 5–29–19; 8:45 am] BILLING CODE 6712–01–P FEDERAL ELECTION COMMISSION Sunshine Act Meeting Tuesday, June 4, 2019 at 10:00 a.m. and its continuation at the conclusion of the open meeting on June 6, 2019. PLACE: 1050 First Street NE, Washington, DC. STATUS: This meeting will be closed to the public. MATTERS TO BE CONSIDERED: Compliance matters pursuant to 52 U.S.C. 30109. Matters relating to internal personnel decisions, or internal rules and practices. Information the premature disclosure of which would be likely to have a considerable adverse effect on the implementation of a proposed Commission action. Matters concerning participation in civil actions or proceedings or arbitration. * * * * * CONTACT PERSON FOR MORE INFORMATION: Judith Ingram, Press Officer, Telephone: (202) 694–1220. TIME AND DATE: Laura E. Sinram, Deputy Secretary of the Commission. [FR Doc. 2019–11412 Filed 5–28–19; 4:15 pm] BILLING CODE 6715–01–P FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL [Docket No. AS19–04] Appraisal Subcommittee; Notice of Received Request for a Temporary Waiver Appraisal Subcommittee of the Federal Financial Institutions Examination Council (FFIEC). ACTION: Notice of received request for a temporary waiver; request for comment. jbell on DSK3GLQ082PROD with NOTICES AGENCY: The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council SUMMARY: VerDate Sep<11>2014 18:08 May 29, 2019 Jkt 247001 (FFIEC) has received a request for a temporary waiver of appraiser certification or licensing requirements pursuant to the Financial Institutions Reform, Recovery, and Enforcement Act, and the rules promulgated thereunder. The ASC is requesting comment (including written data, views and arguments) on the received request. DATES: Comments must be received on or before July 1, 2019. ADDRESSES: Commenters are encouraged to submit comments (including written data, views and arguments) by the Federal eRulemaking Portal or email, if possible. You may submit comments, identified by Docket Number AS19–04, by any of the following methods: • Federal eRulemaking Portal: https://www.regulations.gov. Follow the instructions for submitting comments. Click on the ‘‘Help’’ tab on the Regulations.gov home page to get information on using Regulations.gov, including instructions for submitting public comments. • Email: webmaster@asc.gov. Include the docket number in the subject line of the message. • Fax: (202) 289–4101. Include docket number on fax cover sheet. • Mail: Address to Appraisal Subcommittee, Attn: Lori Schuster, Management and Program Analyst, 1325 G Street NW, Suite 500, Washington, DC 20005. • Hand Delivery/Courier: 1325 G Street NW, Suite 500, Washington, DC 20005. In general, the ASC will enter all comments received into the docket and publish those comments on the Federal eRulemaking (regulations.gov) website without change, including any business or personal information that you provide, such as name and address information, email addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not enclose any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. At the close of the comment period, all public comments will also be made available on the ASC’s website at https://www.asc.gov (follow link in ‘‘What’s New’’) as submitted, unless modified for technical reasons. You may review comments by any of the following methods: • Viewing Comments Electronically: Go to https://www.regulations.gov. Enter ‘‘Docket ID AS19–04’’ in the Search box and click ‘‘Search.’’ Click on the ‘‘Help’’ tab on the Regulations.gov home page to PO 00000 Frm 00025 Fmt 4703 Sfmt 4703 get information on using Regulations.gov, including instructions for viewing public comments, viewing other supporting and related materials, and viewing the docket after the close of the comment period. • Viewing Comments Personally: You may personally inspect comments at the ASC office, 1325 G Street NW, Suite 500, Washington, DC 20005. To make an appointment, please call Lori Schuster at (202) 595–7578. FOR FURTHER INFORMATION CONTACT: James R. Park, Executive Director, at (202) 595–7575, or Alice M. Ritter, General Counsel, at (202) 595–7577, Appraisal Subcommittee, 1325 G Street NW, Suite 500, Washington, DC 20005. SUPPLEMENTARY INFORMATION: I. Background Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended (Title XI),1 established the ASC.2 The purpose of Title XI is ‘‘to provide that Federal financial and public policy interests in real estate related transactions will be protected by requiring that real estate appraisals utilized in connection with federally related transactions are performed in writing, in accordance with uniform standards, by individuals whose competency has been demonstrated and whose professional conduct will be subject to effective supervision.’’ 3 Title XI requires the use of State licensed or certified appraisers in federally related transactions.4 Section 1119(b) of Title XI, 12 U.S.C. 3348(b), authorizes the ASC to waive, on a temporary basis and with approval of the FFIEC, any certification or licensing requirement relative to certifying or licensing individuals to perform appraisals under Title XI in a State or geographic political subdivisions of a State upon a written determination that there is a scarcity of 1 Public Law 101–73, 103 Stat. 511 (1989), as amended by Public Law 102–233, 105 Stat. 1761 (1991), Public Law 102–242, 105 Stat. 2236 (1991) and Public Law 111–203, 124 Stat. 1376 (2010). 2 The ASC Board is comprised of seven members. Five members are designated by the heads of the FFIEC agencies (Board of Governors of the Federal Reserve System [Board], Consumer Financial Protection Bureau [CFPB], Federal Deposit Insurance Corporation [FDIC], Office of the Comptroller of the Currency [OCC], and National Credit Union Administration [NCUA]). The other two members are designated by the heads of the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA). 3 Title XI § 1101, 12 U.S.C. 3331. 4 12 U.S.C. 3343. ‘‘Federally related transaction’’ refers to any real estate related financial transaction which: (a) A federal financial institutions regulatory agency engages in, contracts for, or regulates; and (b) requires the services of an appraiser. Title XI § 1121 (4), 12 U.S.C. 3350. E:\FR\FM\30MYN1.SGM 30MYN1 Federal Register / Vol. 84, No. 104 / Thursday, May 30, 2019 / Notices jbell on DSK3GLQ082PROD with NOTICES certified or licensed appraisers to perform appraisals in connection with federally related transactions leading to significant delays in the performance of such appraisals. The ASC has issued procedures 5 governing the processing of temporary waiver requests. Consistent with 12 CFR 1102.4, the ASC is publishing this notice in the Federal Register requesting comment on the request for a proposed temporary waiver. Interested persons have 30 calendar days from publication of the Federal Register notice to submit written data, views, and arguments. Within 15 days of the close of the 30day comment period, the ASC, by order, will grant or deny a waiver, in whole or in part, and upon specified terms or conditions, including provisions for waiver termination. If the ASC approves any or all of the request, it is subject to approval by the FFIEC. The ASC’s order granting or denying the waiver shall respond to comments received and shall provide reasons for the ASC’s finding. The order shall be published promptly in the Federal Register, though in the case of an order granting a waiver, only after approval by the FFIEC. II. Request for Temporary Waiver; Received Request On August 1, 2018, a letter requesting consideration of a temporary waiver was submitted to the ASC by Governor Doug Burgum, State of North Dakota, the North Dakota Department of Financial Institutions, and the North Dakota Bankers Association (collectively, the Requester). On September 7, 2018, ASC staff replied by letter to the Requester, in which ASC staff described the information required to file a completed waiver request pursuant to 12 CFR 1102.2 and 1102.3. The Requester submitted additional information in a letter dated April 10, 2019, in response to the ASC’s September 7, 2018 letter. On April 15, 2019, the ASC convened a Special Meeting and determined to publish a notice for comment on the request for temporary waiver in the Federal Register. The request seeks a waiver of appraiser credentialing requirements for appraisals for federally related transactions under $500,000 for 1-to-4 family residential real estate transactions and under $1,000,000 for agricultural and commercial real estate transactions throughout the State of North Dakota for a period of not less than five years. Pursuant to 12 CFR 1102.4, the ASC is publishing a notice respecting the received request to give interested persons 30 days to comment, including 5 12 CFR part 1102, subpart A. VerDate Sep<11>2014 18:08 May 29, 2019 Jkt 247001 submission of written data, views and arguments. You may view the received request by any of the following methods: • Viewing Received Request Electronically: Go to https:// www.asc.gov. In the ‘‘What’s New’’ box on the home page, a link is provided to view the received request and supporting documentation. • Viewing Received Request Personally: You may personally inspect the received request and supporting documentation at the ASC office, 1325 G Street NW, Suite 500, Washington, DC 20005. To make an appointment, please call Lori Schuster at (202) 595–7578. III. Request for Comment The ASC seeks comment on all aspects of the received request, including submission of written data, views and arguments. In addition, the ASC requests comment on the following: Question 1. The ASC requests comment on whether there is a scarcity of certified or licensed appraisers available to perform appraisals for each of the following types of federally related transactions in North Dakota, or in any geographical political subdivision of North Dakota, including supporting data: i. 1-to-4 family residential transactions above $250,000 and below $500,000; or ii. agricultural and commercial real estate transactions above $500,000 and below $1 million. Question 2. The ASC requests comment on whether there are significant delays in the performance of appraisals in North Dakota, or in any geographical political subdivision of North Dakota, including supporting data such as the average length of time between the date an appraisal is ordered and the delivery date, for federally related transactions that are: i. 1-to-4 family residential transactions above $250,000 and below $500,000; or ii. agricultural and commercial real estate transactions above $500,000 and below $1 million. Question 3. The ASC requests comment, including supporting data, on factors that may be leading to significant delay in the performance of appraisals in connection with federally related transactions in North Dakota, and specifically whether scarcity of appraisers is leading to such significant delay, for: i. Residential appraisal reports; or ii. agricultural and commercial appraisal reports. PO 00000 Frm 00026 Fmt 4703 Sfmt 4703 25053 Question 4. The ASC requests comment, including supporting rationale, on appropriate scope, terms, or conditions of any temporary waiver, should it find that such a waiver is warranted, including whether the requested 5-year duration of a waiver would be appropriate, types of federally related transactions that any waiver should cover, dollar limits for any transactions covered by a waiver, or whether the waiver should be limited to any particular area or geography. * * * * * By the Appraisal Subcommittee. Dated: May 24, 2019. James R. Park, Executive Director. [FR Doc. 2019–11282 Filed 5–29–19; 8:45 am] BILLING CODE 6700–01–P FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Bank Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other applicable statutes and regulations to become a bank holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company and all of the banks and nonbanking companies owned by the bank holding company, including the companies listed below. The applications listed below, as well as other related filings required by the Board, are available for immediate inspection at the Federal Reserve Bank indicated. The applications will also be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the acquisition of a nonbanking company, the review also includes whether the acquisition of the nonbanking company complies with the standards in section 4 of the BHC Act (12 U.S.C. 1843). Unless otherwise noted, nonbanking activities will be conducted throughout the United States. Unless otherwise noted, comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than June 24, 2019. A. Federal Reserve Bank of Atlanta (Kathryn Haney, Assistant Vice President) 1000 Peachtree Street NE, Atlanta, Georgia 30309. Comments can E:\FR\FM\30MYN1.SGM 30MYN1

Agencies

[Federal Register Volume 84, Number 104 (Thursday, May 30, 2019)]
[Notices]
[Pages 25052-25053]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-11282]


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FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL

[Docket No. AS19-04]


Appraisal Subcommittee; Notice of Received Request for a 
Temporary Waiver

AGENCY: Appraisal Subcommittee of the Federal Financial Institutions 
Examination Council (FFIEC).

ACTION: Notice of received request for a temporary waiver; request for 
comment.

-----------------------------------------------------------------------

SUMMARY: The Appraisal Subcommittee (ASC) of the Federal Financial 
Institutions Examination Council (FFIEC) has received a request for a 
temporary waiver of appraiser certification or licensing requirements 
pursuant to the Financial Institutions Reform, Recovery, and 
Enforcement Act, and the rules promulgated thereunder. The ASC is 
requesting comment (including written data, views and arguments) on the 
received request.

DATES: Comments must be received on or before July 1, 2019.

ADDRESSES: Commenters are encouraged to submit comments (including 
written data, views and arguments) by the Federal eRulemaking Portal or 
email, if possible. You may submit comments, identified by Docket 
Number AS19-04, by any of the following methods:
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments. Click on the ``Help'' 
tab on the Regulations.gov home page to get information on using 
Regulations.gov, including instructions for submitting public comments.
     Email: [email protected]. Include the docket number in the 
subject line of the message.
     Fax: (202) 289-4101. Include docket number on fax cover 
sheet.
     Mail: Address to Appraisal Subcommittee, Attn: Lori 
Schuster, Management and Program Analyst, 1325 G Street NW, Suite 500, 
Washington, DC 20005.
     Hand Delivery/Courier: 1325 G Street NW, Suite 500, 
Washington, DC 20005.
    In general, the ASC will enter all comments received into the 
docket and publish those comments on the Federal eRulemaking 
(regulations.gov) website without change, including any business or 
personal information that you provide, such as name and address 
information, email addresses, or phone numbers. Comments received, 
including attachments and other supporting materials, are part of the 
public record and subject to public disclosure. Do not enclose any 
information in your comment or supporting materials that you consider 
confidential or inappropriate for public disclosure. At the close of 
the comment period, all public comments will also be made available on 
the ASC's website at https://www.asc.gov (follow link in ``What's 
New'') as submitted, unless modified for technical reasons.
    You may review comments by any of the following methods:
     Viewing Comments Electronically: Go to https://www.regulations.gov. Enter ``Docket ID AS19-04'' in the Search box and 
click ``Search.'' Click on the ``Help'' tab on the Regulations.gov home 
page to get information on using Regulations.gov, including 
instructions for viewing public comments, viewing other supporting and 
related materials, and viewing the docket after the close of the 
comment period.
     Viewing Comments Personally: You may personally inspect 
comments at the ASC office, 1325 G Street NW, Suite 500, Washington, DC 
20005. To make an appointment, please call Lori Schuster at (202) 595-
7578.

FOR FURTHER INFORMATION CONTACT:  James R. Park, Executive Director, at 
(202) 595-7575, or Alice M. Ritter, General Counsel, at (202) 595-7577, 
Appraisal Subcommittee, 1325 G Street NW, Suite 500, Washington, DC 
20005.

SUPPLEMENTARY INFORMATION: 

I. Background

    Title XI of the Financial Institutions Reform, Recovery, and 
Enforcement Act of 1989, as amended (Title XI),\1\ established the 
ASC.\2\ The purpose of Title XI is ``to provide that Federal financial 
and public policy interests in real estate related transactions will be 
protected by requiring that real estate appraisals utilized in 
connection with federally related transactions are performed in 
writing, in accordance with uniform standards, by individuals whose 
competency has been demonstrated and whose professional conduct will be 
subject to effective supervision.'' \3\ Title XI requires the use of 
State licensed or certified appraisers in federally related 
transactions.\4\ Section 1119(b) of Title XI, 12 U.S.C. 3348(b), 
authorizes the ASC to waive, on a temporary basis and with approval of 
the FFIEC, any certification or licensing requirement relative to 
certifying or licensing individuals to perform appraisals under Title 
XI in a State or geographic political subdivisions of a State upon a 
written determination that there is a scarcity of

[[Page 25053]]

certified or licensed appraisers to perform appraisals in connection 
with federally related transactions leading to significant delays in 
the performance of such appraisals. The ASC has issued procedures \5\ 
governing the processing of temporary waiver requests. Consistent with 
12 CFR 1102.4, the ASC is publishing this notice in the Federal 
Register requesting comment on the request for a proposed temporary 
waiver. Interested persons have 30 calendar days from publication of 
the Federal Register notice to submit written data, views, and 
arguments. Within 15 days of the close of the 30-day comment period, 
the ASC, by order, will grant or deny a waiver, in whole or in part, 
and upon specified terms or conditions, including provisions for waiver 
termination. If the ASC approves any or all of the request, it is 
subject to approval by the FFIEC. The ASC's order granting or denying 
the waiver shall respond to comments received and shall provide reasons 
for the ASC's finding. The order shall be published promptly in the 
Federal Register, though in the case of an order granting a waiver, 
only after approval by the FFIEC.
---------------------------------------------------------------------------

    \1\ Public Law 101-73, 103 Stat. 511 (1989), as amended by 
Public Law 102-233, 105 Stat. 1761 (1991), Public Law 102-242, 105 
Stat. 2236 (1991) and Public Law 111-203, 124 Stat. 1376 (2010).
    \2\ The ASC Board is comprised of seven members. Five members 
are designated by the heads of the FFIEC agencies (Board of 
Governors of the Federal Reserve System [Board], Consumer Financial 
Protection Bureau [CFPB], Federal Deposit Insurance Corporation 
[FDIC], Office of the Comptroller of the Currency [OCC], and 
National Credit Union Administration [NCUA]). The other two members 
are designated by the heads of the Department of Housing and Urban 
Development (HUD) and the Federal Housing Finance Agency (FHFA).
    \3\ Title XI Sec.  1101, 12 U.S.C. 3331.
    \4\ 12 U.S.C. 3343. ``Federally related transaction'' refers to 
any real estate related financial transaction which: (a) A federal 
financial institutions regulatory agency engages in, contracts for, 
or regulates; and (b) requires the services of an appraiser. Title 
XI Sec.  1121 (4), 12 U.S.C. 3350.
    \5\ 12 CFR part 1102, subpart A.
---------------------------------------------------------------------------

II. Request for Temporary Waiver; Received Request

    On August 1, 2018, a letter requesting consideration of a temporary 
waiver was submitted to the ASC by Governor Doug Burgum, State of North 
Dakota, the North Dakota Department of Financial Institutions, and the 
North Dakota Bankers Association (collectively, the Requester). On 
September 7, 2018, ASC staff replied by letter to the Requester, in 
which ASC staff described the information required to file a completed 
waiver request pursuant to 12 CFR 1102.2 and 1102.3. The Requester 
submitted additional information in a letter dated April 10, 2019, in 
response to the ASC's September 7, 2018 letter. On April 15, 2019, the 
ASC convened a Special Meeting and determined to publish a notice for 
comment on the request for temporary waiver in the Federal Register. 
The request seeks a waiver of appraiser credentialing requirements for 
appraisals for federally related transactions under $500,000 for 1-to-4 
family residential real estate transactions and under $1,000,000 for 
agricultural and commercial real estate transactions throughout the 
State of North Dakota for a period of not less than five years.
    Pursuant to 12 CFR 1102.4, the ASC is publishing a notice 
respecting the received request to give interested persons 30 days to 
comment, including submission of written data, views and arguments.
    You may view the received request by any of the following methods:
     Viewing Received Request Electronically: Go to https://www.asc.gov. In the ``What's New'' box on the home page, a link is 
provided to view the received request and supporting documentation.
     Viewing Received Request Personally: You may personally 
inspect the received request and supporting documentation at the ASC 
office, 1325 G Street NW, Suite 500, Washington, DC 20005. To make an 
appointment, please call Lori Schuster at (202) 595-7578.

III. Request for Comment

    The ASC seeks comment on all aspects of the received request, 
including submission of written data, views and arguments. In addition, 
the ASC requests comment on the following:
    Question 1. The ASC requests comment on whether there is a scarcity 
of certified or licensed appraisers available to perform appraisals for 
each of the following types of federally related transactions in North 
Dakota, or in any geographical political subdivision of North Dakota, 
including supporting data:
    i. 1-to-4 family residential transactions above $250,000 and below 
$500,000; or
    ii. agricultural and commercial real estate transactions above 
$500,000 and below $1 million.
    Question 2. The ASC requests comment on whether there are 
significant delays in the performance of appraisals in North Dakota, or 
in any geographical political subdivision of North Dakota, including 
supporting data such as the average length of time between the date an 
appraisal is ordered and the delivery date, for federally related 
transactions that are:
    i. 1-to-4 family residential transactions above $250,000 and below 
$500,000; or
    ii. agricultural and commercial real estate transactions above 
$500,000 and below $1 million.
    Question 3. The ASC requests comment, including supporting data, on 
factors that may be leading to significant delay in the performance of 
appraisals in connection with federally related transactions in North 
Dakota, and specifically whether scarcity of appraisers is leading to 
such significant delay, for:
    i. Residential appraisal reports; or
    ii. agricultural and commercial appraisal reports.
    Question 4. The ASC requests comment, including supporting 
rationale, on appropriate scope, terms, or conditions of any temporary 
waiver, should it find that such a waiver is warranted, including 
whether the requested 5-year duration of a waiver would be appropriate, 
types of federally related transactions that any waiver should cover, 
dollar limits for any transactions covered by a waiver, or whether the 
waiver should be limited to any particular area or geography.
* * * * *

    By the Appraisal Subcommittee.

    Dated: May 24, 2019.
James R. Park,
Executive Director.
[FR Doc. 2019-11282 Filed 5-29-19; 8:45 am]
 BILLING CODE 6700-01-P