Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 28048-28049 [2019-12679]

Download as PDF 28048 Federal Register / Vol. 84, No. 116 / Monday, June 17, 2019 / Notices information, the Board will consider all comments received from the public and other agencies. Request for Comment on Information Collection Proposal The Board invites public comment on the following information collection, which is being reviewed under authority delegated by the OMB under the PRA. Comments are invited on the following: a. Whether the proposed collection of information is necessary for the proper performance of the Board’s functions, including whether the information has practical utility; b. The accuracy of the Board’s estimate of the burden of the proposed information collection, including the validity of the methodology and assumptions used; c. Ways to enhance the quality, utility, and clarity of the information to be collected; d. Ways to minimize the burden of information collection on respondents, including through the use of automated collection techniques or other forms of information technology; and e. Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the Board should modify the proposal. khammond on DSKBBV9HB2PROD with NOTICES Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: Notice of Proposed Stock Redemption. Agency form number: FR 4008. OMB control number: 7100–0131. Frequency: Event-generated. Respondents: Bank holding companies. Estimated number of respondents: 8. Estimated average hours per response: 15.5 hours. Estimated annual burden hours: 124 hours. General description of report: The Bank Holding Company Act (BHC Act) and Board’s Regulation Y require a bank holding company (BHC) to seek the prior approval of the Board before purchasing or redeeming its equity securities in certain circumstances. Due to the limited information that a BHC must provide in connection with any such request, there is no required reporting form (the FR 4008 designation is for internal purposes only), and each request for prior approval must be filed VerDate Sep<11>2014 16:34 Jun 14, 2019 Jkt 247001 as a notification with the Reserve Bank that has direct supervisory responsibility for the requesting BHC. The Federal Reserve uses the information provided in the redemption notice to supervise BHCs. Legal authorization and confidentiality: The FR 4008 is authorized pursuant to sections 5(b) and (c) of the BHC Act (12 U.S.C. 1844(b) and (c)). Section 5(b) of the BHC Act, as amended by section 616 of the DoddFrank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act),1 generally authorizes the Board to, among other things, issue capital regulations that are necessary to administer and carry out the purposes of the BHC Act and prevent evasions thereof. Section 5(c) of the BHC Act generally authorizes the Board to, among other things, require reports from BHCs on a range of issues. The FR 4008 is required for some BHCs to obtain the benefit of being able to purchase or redeem their equity securities. Individual respondents may request that data submitted be kept confidential on a case-by-case basis. If a respondent requests confidential treatment, the Board will determine whether the information is entitled to confidential treatment on an ad hoc basis. Requests may include information related to the BHC’s business operations, such as terms and sources of the funding for the redemption and pro forma balance sheets. This information may be kept confidential under exemption 4 of the Freedom of Information Act, which protects privileged or confidential commercial or financial information.2 Board of Governors of the Federal Reserve System, June 11, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–12680 Filed 6–14–19; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB Board of Governors of the Federal Reserve System. SUMMARY: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Disclosure Requirements of Regulation Y Associated with Minimum Requirements for Appraisal AGENCY: 1 Public 25 PO 00000 Law 111–203, 124 Stat. 1376 (2010). U.S.C. 552(b)(4). Frm 00049 Fmt 4703 Sfmt 4703 Management Companies (FR HY–5; OMB No. 7100–0370). FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance Officer—Nuha Elmaghrabi—Office of the Chief Data Officer, Board of Governors of the Federal Reserve System, Washington, DC 20551, (202) 452–3829. Telecommunications Device for the Deaf (TDD) users may contact (202) 263–4869, Board of Governors of the Federal Reserve System, Washington, DC 20551. Office of Management and Budget (OMB) Desk Officer—Shagufta Ahmed— Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503, or by fax to (202) 395–6974. SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve and assign OMB control numbers to collection of information requests and requirements conducted or sponsored by the Board. Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the PRA Submission, supporting statements and approved collection of information instrument(s) are placed into OMB’s public docket files. The Board may not conduct or sponsor, and the respondent is not required to respond to, an information collection that has been extended, revised, or implemented on or after October 1, 1995, unless it displays a currently valid OMB control number. Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection Report title: Disclosure Requirements of Regulation Y Associated with Minimum Requirements for Appraisal Management Companies. Agency form number: FR HY–5. OMB control number: 7100–0370. Frequency: Event generated. Respondents: Federally regulated and state regulated Appraisal Management Companies (AMCs) and U.S. states. Estimated number of respondents: 3,136. Estimated average hours per response: Section 225.192, 0.08 hours; Section 225.193(a), 40 hours; Section 225.193(b), 1 hour; Section 225.195, 1 hour; Section 225.196, 1 hour. Estimated annual burden hours: Section 225.192, 237 hours; Section 225.193(a), 2,040 hours; Section E:\FR\FM\17JNN1.SGM 17JNN1 khammond on DSKBBV9HB2PROD with NOTICES Federal Register / Vol. 84, No. 116 / Monday, June 17, 2019 / Notices 225.193(b), 1,174 hours; Section 225.195, 11 hours; Section 225.196, 51 hours. General description of report: The Board’s disclosure requirements associated with minimum requirements for AMCs are found in sections 225.192, 225.193, 225.195, and 225.196 of the Board’s Regulation Y. Section 225.192(b), Written Notice of Appraiser Removal from Network or Panel, provides that an appraiser in an AMC’s network or panel is deemed to remain a part of the AMC’s appraiser panel until the AMC (1) sends a written notice to the appraiser removing the appraiser with an explanation or (2) receives a written notice from the appraiser asking to be removed or a notice of the death or incapacity of the appraiser. Participating states must have an AMC registration and supervision program. Pursuant to section 225.193(a), each participating state must establish and maintain within its appraiser certifying and licensing agency a registration and supervision program with the legal authority and mechanisms to, among other things, review and approve or deny an AMC’s application for initial registration; require AMCs to submit reports, information, and documents; and report violations of appraisal-related laws, regulations, or orders, and disciplinary and enforcement actions to the Appraisal Subcommittee. Section 225.193(b) requires each participating state to require nonfederally regulated AMCs to register with the state appraiser certifying and licensing agency. Section 225.195(c) requires a federally regulated AMC to report to the state or states in which it operates the information required to be submitted by the state pursuant to the Appraisal Subcommittee’s policies regarding the determination of the AMC National Registry fee, including information relating to certain ownership limitations in the regulation. Section 225.196 requires that each participating state submit to the Appraisal Subcommittee the information required to be submitted by Appraisal Subcommittee regulations or guidance concerning AMCs that operate in the state. There are no required reporting forms associated with these information collections. No other federal law mandates these disclosure requirements. This information is not available from any other source. Legal authorization and confidentiality: The FR HY–5 is authorized pursuant to section 1124(a) VerDate Sep<11>2014 16:34 Jun 14, 2019 Jkt 247001 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), which provides that the agencies ‘‘shall jointly, by rule, establish minimum requirements to be applied by a State in the registration of [AMCs]’’ (12 U.S.C. 3353(a)). Section 1124(e) of the FIRREA requires that the agencies ‘‘jointly promulgate regulations for the reporting of the activities of [AMCs] to the [Appraisal Subcommittee of the Federal Financial Institutions Examination Council (ASC)] in determining the payment of the annual registry fee’’ (12 U.S.C. 3353(e)). In addition, section 1109(a) of the FIRREA requires each participating state with an appraiser certifying and licensing agency to transmit to the ASC ‘‘[1] a roster listing individuals who have received a State certification or license . . . [2] reports on the issuance and renewal of licenses and certifications, sanctions, disciplinary actions, license and certification revocations, and license and certification suspensions on a timely basis to the national registry of the [ASC] . . . [3] [and reports on] investigations initiated and disciplinary actions taken’’ (12 U.S.C. 3338(a)(1)– (3)). Section 1124 of the FIRREA does not compel a state to establish an AMC registration and supervision program, nor is a penalty imposed on a state that does not establish a regulatory structure for AMCs.1 Therefore, the FR HY–5 is voluntary for states. The FR HY–5 is mandatory for AMCs. Because the Federal Reserve will not collect this information, confidentiality issues would normally not arise. Because the records are retained at banking organizations, the Freedom of Information Act (FOIA) will only be implicated if the Board’s examiners retain a copy of the record as part of an examination or supervision of a banking institution. In that case, the records would be exempt from disclosure under exemption 8 of FOIA, which protects examination materials from disclosure (5 U.S.C. 552(b)(8)). Exemption 4 of the FOIA, which protects confidential financial information, and exemption 6 of the FOIA, which protects non-public personal information, may also be applicable (5 U.S.C. 552(b)(4) and (b)(6)). Current actions: On March 6, 2019, the Board published a notice in the Federal Register (84 FR 8098) requesting public comment for 60 days on the extension, without revision, of the FR HY–5. The comment period for this notice expired on May 6, 2019. The Board did not receive any comments. 1 80 PO 00000 FR 32658 (June 9, 2015). Frm 00050 Fmt 4703 Sfmt 4703 28049 Board of Governors of the Federal Reserve System, June 11, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–12679 Filed 6–14–19; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request Board of Governors of the Federal Reserve System. ACTION: Notice, request for comment. AGENCY: The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the Notice of Proposed Declaration of Dividend (FR 1583; OMB No. 7100–0339). DATES: Comments must be submitted on or before August 16, 2019. ADDRESSES: You may submit comments, identified by FR 1583, by any of the following methods: • Agency Website: https:// www.federalreserve.gov. Follow the instructions for submitting comments at https://www.federalreserve.gov/apps/ foia/proposedregs.aspx. • Email: regs.comments@ federalreserve.gov. Include OMB number in the subject line of the message. • Fax: (202) 452–3819 or (202) 452– 3102. • Mail: Ann E. Misback, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551. All public comments are available on the Board’s website at https:// www.federalreserve.gov/apps/foia/ proposedregs.aspx as submitted, unless modified for technical reasons. Accordingly, your comments will not be edited to remove any identifying or contact information. Public comments may also be viewed electronically or in paper form in Room 146, 1709 New York Avenue NW, Washington, DC 20006, between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the Board requires that visitors make an appointment to inspect comments. You may do so by calling (202) 452–3684. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in order to inspect and photocopy comments. Additionally, commenters may send a copy of their comments to the Office of Management and Budget (OMB) Desk SUMMARY: E:\FR\FM\17JNN1.SGM 17JNN1

Agencies

[Federal Register Volume 84, Number 116 (Monday, June 17, 2019)]
[Notices]
[Pages 28048-28049]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-12679]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, without revision, the 
Disclosure Requirements of Regulation Y Associated with Minimum 
Requirements for Appraisal Management Companies (FR HY-5; OMB No. 7100-
0370).

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve System, Washington, DC 20551, (202) 
452-3829. Telecommunications Device for the Deaf (TDD) users may 
contact (202) 263-4869, Board of Governors of the Federal Reserve 
System, Washington, DC 20551.
    Office of Management and Budget (OMB) Desk Officer--Shagufta 
Ahmed--Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Room 10235, 725 
17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the Paperwork Reduction Act (PRA) to approve and assign 
OMB control numbers to collection of information requests and 
requirements conducted or sponsored by the Board. Board-approved 
collections of information are incorporated into the official OMB 
inventory of currently approved collections of information. Copies of 
the PRA Submission, supporting statements and approved collection of 
information instrument(s) are placed into OMB's public docket files. 
The Board may not conduct or sponsor, and the respondent is not 
required to respond to, an information collection that has been 
extended, revised, or implemented on or after October 1, 1995, unless 
it displays a currently valid OMB control number.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Information Collection

    Report title: Disclosure Requirements of Regulation Y Associated 
with Minimum Requirements for Appraisal Management Companies.
    Agency form number: FR HY-5.
    OMB control number: 7100-0370.
    Frequency: Event generated.
    Respondents: Federally regulated and state regulated Appraisal 
Management Companies (AMCs) and U.S. states.
    Estimated number of respondents: 3,136.
    Estimated average hours per response: Section 225.192, 0.08 hours; 
Section 225.193(a), 40 hours; Section 225.193(b), 1 hour; Section 
225.195, 1 hour; Section 225.196, 1 hour.
    Estimated annual burden hours: Section 225.192, 237 hours; Section 
225.193(a), 2,040 hours; Section

[[Page 28049]]

225.193(b), 1,174 hours; Section 225.195, 11 hours; Section 225.196, 51 
hours.
    General description of report: The Board's disclosure requirements 
associated with minimum requirements for AMCs are found in sections 
225.192, 225.193, 225.195, and 225.196 of the Board's Regulation Y.
    Section 225.192(b), Written Notice of Appraiser Removal from 
Network or Panel, provides that an appraiser in an AMC's network or 
panel is deemed to remain a part of the AMC's appraiser panel until the 
AMC (1) sends a written notice to the appraiser removing the appraiser 
with an explanation or (2) receives a written notice from the appraiser 
asking to be removed or a notice of the death or incapacity of the 
appraiser.
    Participating states must have an AMC registration and supervision 
program. Pursuant to section 225.193(a), each participating state must 
establish and maintain within its appraiser certifying and licensing 
agency a registration and supervision program with the legal authority 
and mechanisms to, among other things, review and approve or deny an 
AMC's application for initial registration; require AMCs to submit 
reports, information, and documents; and report violations of 
appraisal-related laws, regulations, or orders, and disciplinary and 
enforcement actions to the Appraisal Subcommittee.
    Section 225.193(b) requires each participating state to require 
non-federally regulated AMCs to register with the state appraiser 
certifying and licensing agency.
    Section 225.195(c) requires a federally regulated AMC to report to 
the state or states in which it operates the information required to be 
submitted by the state pursuant to the Appraisal Subcommittee's 
policies regarding the determination of the AMC National Registry fee, 
including information relating to certain ownership limitations in the 
regulation.
    Section 225.196 requires that each participating state submit to 
the Appraisal Subcommittee the information required to be submitted by 
Appraisal Subcommittee regulations or guidance concerning AMCs that 
operate in the state.
    There are no required reporting forms associated with these 
information collections. No other federal law mandates these disclosure 
requirements. This information is not available from any other source.
    Legal authorization and confidentiality: The FR HY-5 is authorized 
pursuant to section 1124(a) of the Financial Institutions Reform, 
Recovery, and Enforcement Act of 1989 (FIRREA), which provides that the 
agencies ``shall jointly, by rule, establish minimum requirements to be 
applied by a State in the registration of [AMCs]'' (12 U.S.C. 3353(a)). 
Section 1124(e) of the FIRREA requires that the agencies ``jointly 
promulgate regulations for the reporting of the activities of [AMCs] to 
the [Appraisal Subcommittee of the Federal Financial Institutions 
Examination Council (ASC)] in determining the payment of the annual 
registry fee'' (12 U.S.C. 3353(e)). In addition, section 1109(a) of the 
FIRREA requires each participating state with an appraiser certifying 
and licensing agency to transmit to the ASC ``[1] a roster listing 
individuals who have received a State certification or license . . . 
[2] reports on the issuance and renewal of licenses and certifications, 
sanctions, disciplinary actions, license and certification revocations, 
and license and certification suspensions on a timely basis to the 
national registry of the [ASC] . . . [3] [and reports on] 
investigations initiated and disciplinary actions taken'' (12 U.S.C. 
3338(a)(1)-(3)). Section 1124 of the FIRREA does not compel a state to 
establish an AMC registration and supervision program, nor is a penalty 
imposed on a state that does not establish a regulatory structure for 
AMCs.\1\ Therefore, the FR HY-5 is voluntary for states. The FR HY-5 is 
mandatory for AMCs.
---------------------------------------------------------------------------

    \1\ 80 FR 32658 (June 9, 2015).
---------------------------------------------------------------------------

    Because the Federal Reserve will not collect this information, 
confidentiality issues would normally not arise. Because the records 
are retained at banking organizations, the Freedom of Information Act 
(FOIA) will only be implicated if the Board's examiners retain a copy 
of the record as part of an examination or supervision of a banking 
institution. In that case, the records would be exempt from disclosure 
under exemption 8 of FOIA, which protects examination materials from 
disclosure (5 U.S.C. 552(b)(8)). Exemption 4 of the FOIA, which 
protects confidential financial information, and exemption 6 of the 
FOIA, which protects non-public personal information, may also be 
applicable (5 U.S.C. 552(b)(4) and (b)(6)).
    Current actions: On March 6, 2019, the Board published a notice in 
the Federal Register (84 FR 8098) requesting public comment for 60 days 
on the extension, without revision, of the FR HY-5. The comment period 
for this notice expired on May 6, 2019. The Board did not receive any 
comments.

    Board of Governors of the Federal Reserve System, June 11, 2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-12679 Filed 6-14-19; 8:45 am]
 BILLING CODE 6210-01-P