Proposed Agency Information Collection Activities; Comment Request, 68664-68666 [2021-26318]

Download as PDF 68664 Federal Register / Vol. 86, No. 230 / Friday, December 3, 2021 / Notices NOTIFICATION PROCEDURES: Individuals wishing to know whether this system contains information about them must submit their request in writing to the FDIC FOIA & Privacy Act Group, 550 17th Street NW, Washington, DC 20429, or email efoia@ fdic.gov. Requests must include full name, address, and verification of identity in accordance with FDIC regulations at 12 CFR part 310. EXEMPTIONS PROMULGATED FOR THE SYSTEM: None. HISTORY: None. Federal Deposit Insurance Corporation. Dated at Washington, DC, on November 30, 2021. James P. Sheesley, Assistant Executive Secretary. [FR Doc. 2021–26259 Filed 12–2–21; 8:45 am] BILLING CODE 6714–01–P FEDERAL RESERVE SYSTEM jspears on DSK121TN23PROD with NOTICES1 Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company The notificants listed below have applied under the Change in Bank Control Act (Act) (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank holding company. The factors that are considered in acting on the applications are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The public portions of the applications listed below, as well as other related filings required by the Board, if any, are available for immediate inspection at the Federal Reserve Bank(s) indicated below and at the offices of the Board of Governors. This information may also be obtained on an expedited basis, upon request, by contacting the appropriate Federal Reserve Bank and from the Board’s Freedom of Information Office at https://www.federalreserve.gov/foia/ request.htm. Interested persons may express their views in writing on the standards enumerated in paragraph 7 of the Act. Comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors, Ann E. Misback, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551–0001, not later than December 20, 2021. A. Federal Reserve Bank of Kansas City (Jeffrey Imgarten, Assistant Vice VerDate Sep<11>2014 18:06 Dec 02, 2021 Jkt 256001 President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: 1. Susan Johnson, Colorado Springs, Colorado; Charles Vasilius and Stephanie Vasilius, both of Denver, Colorado; Nicholas Vasilius, Kirkland, Washington; and Alexandra Pitnell, Pittsford, New York; to join the Dwan/ Vasilius Family Group, a group acting in concert, to retain voting shares of Central Bancorp, Inc., Colorado Springs, Colorado, and thereby indirectly retain voting shares of Farmers & Stockmens Bank, Clayton, New Mexico. Also, the Charles J. Vasilius Trust, the Janet M. Vasilius Trust, and Justin Leveille, individually, and as trustee to both trusts, and the Susan Dwan Johnson Trust, the Elizabeth Dwan McNamara Trust, the Patricia Dwan Smith Trust, the Clare Dwan Harting Trust, the Kathleen Dwan Trust, the Ann T. Dwan Trust, and Tim Coutts, individually, and as trustee to each of the 5 trusts, and all of Colorado Springs, Colorado to join the Dwan/Vasilius Family Group, a group acting in concert, to acquire additional voting shares of Central Bancorp, Inc., and thereby indirectly acquire additional voting shares of Farmers & Stockmens Bank. Board of Governors of the Federal Reserve System, November 29, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–26226 Filed 12–2–21; 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, without revision, the Recordkeeping and Disclosure Requirements Associated with Regulation Y for Minimum Requirements for Appraisal Management Companies (FR HY–5; OMB No. 7100–0370). DATES: Comments must be submitted on or before February 1, 2022. ADDRESSES: You may submit comments, identified by FR HY–5, 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. SUMMARY: PO 00000 Frm 00040 Fmt 4703 Sfmt 4703 • Email: regs.comments@ federalreserve.gov. Include the OMB number or FR 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 from the Board’s website at https:// www.federalreserve.gov/apps/foia/ proposedregs.aspx as submitted, unless modified for technical reasons or to remove personally identifiable information at the commenter’s request. Accordingly, comments will not be edited to remove any confidential business information, identifying information, or contact information. Public comments may also be viewed electronically or in paper 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 Officer for the Federal Reserve Board, 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. 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. 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 collections of information conducted or sponsored by the Board. In exercising this delegated authority, the Board is directed to take every reasonable step to solicit comment. In determining whether to approve a collection of information, the Board will consider all comments received from the public and other agencies. E:\FR\FM\03DEN1.SGM 03DEN1 Federal Register / Vol. 86, No. 230 / Friday, December 3, 2021 / Notices During the comment period for this proposal, a copy of the proposed PRA OMB submission, including the draft reporting form and instructions, supporting statement, and other documentation, will be made available on the Board’s public website at https:// www.federalreserve.gov/apps/ reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears above. Final versions of these documents will be made available at https:// www.reginfo.gov/public/do/PRAMain, if approved. jspears on DSK121TN23PROD with NOTICES1 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. Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: The Recordkeeping and Disclosure Requirements Associated with Regulation Y for Minimum Requirements for Appraisal Management Companies. Agency form number: FR HY–5. OMB control number: 7100–0370. Frequency: Event-generated. Respondents: The FR HY–5 panel comprises federally regulated and state regulated appraisal management companies (AMCs) and U.S. states, except that AMCs that oversee 15 or VerDate Sep<11>2014 18:06 Dec 02, 2021 Jkt 256001 fewer appraisers in a state or less than 25 appraisers in two or more states are exempt from these recordkeeping and disclosure requirements. Estimated number of respondents: Section 225.193(a), 1; Section 225.192(b), 1,239; Section 225.193(b), 1,146; Section 225.195(c), 13; Section 225.196, 51. Estimated average hours per response: Section 225.193(a), 40; Section 225.192(b), 0.08; Section 225.193(b), 1; Section 225.195(c), 2; Section 225.196, 1. Estimated annual burden hours: Section 225.193(a), 40; Section 225.192(b), 99; Section 225.193(b), 2,292; Section 225.195(c), 26; Section 225.196, 51. General description of report: The Board’s recordkeeping and disclosure requirements associated with the minimum requirements for AMCs are found in sections 225.192, 225.193, 225.195, and 225.196 of the Board’s Regulation Y, Subpart M. 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 appraisalrelated laws, regulations, or orders, as well as disciplinary and enforcement actions, to the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council. Section 225.192(b) 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. 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 ASC’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 ASC the information required to be submitted by PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 68665 the ASC regulations or guidance concerning AMCs that operate in the state. Legal authorization and confidentiality: The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 authorizes the FR HY–5. Agencies must ‘‘jointly, by rule, establish minimum requirements to be applied by a State in the registration of [AMCs].’’ 1 The Agencies further must ‘‘jointly promulgate regulations for the reporting of the activities of [AMCs] to the [ASC] in determining the payment of the annual registry fee.’’ 2 Each participating state with an appraiser certifying and licensing agency must also 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, and license and certification revocations, and license and certification suspensions on a timely basis to the national registry of the [ASC] . . . [3] including investigations initiated and disciplinary actions taken.’’ 3 The HY–5 reporting and recordkeeping requirements are required to obtain a benefit for states because AMCs, unless they are owned and controlled by a federally regulated depository institution, are barred from providing appraisal management services for federally related transactions in a state that has not adopted the minimum AMC requirements.4 The FR HY–5 recordkeeping and disclosure requirements are mandatory for an AMC that is: (1) An AMC that is a subsidiary owned and controlled by a financial institution and regulated by a federal financial institution regulatory agency,5 or (2) is registered with a state that has a state appraiser certifying and licensing agency. The Federal Reserve does not collect information subject to the HY–5 recordkeeping and reporting requirements. If information subject to the HY–5 requirements is obtained as part of an examination or supervision of a financial institution, it may be considered confidential under exemption 8 of the Freedom of Information Act (FOIA).6 Information subject to the HY–5 requirements may also be kept confidential under FOIA 12 U.S.C. 3353(a). 12 U.S.C. 3353(e). 3 12 U.S.C. 3338(a). 4 12 U.S.C. 3353. 5 12 U.S.C. 3353(c). 6 5 U.S.C. 552(b)(8). 1 2 E:\FR\FM\03DEN1.SGM 03DEN1 68666 Federal Register / Vol. 86, No. 230 / Friday, December 3, 2021 / Notices exemption 4 if it is confidential commercial or financial information that is both customarily and actually treated as private.7 Consultation outside the agency: The Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Housing Finance Agency collaborated in reassessing and confirming their burden estimates and methodologies for this submission and discussed potential improvements and evaluations for future submissions. Board of Governors of the Federal Reserve System, November 29, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–26318 Filed 12–2–21; 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: jspears on DSK121TN23PROD with NOTICES1 FOR FURTHER INFORMATION CONTACT: The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Senior Credit Officer Opinion Survey on Dealer Financing Terms (FR 2034; OMB No. 7100–0325). DATES: Comments must be submitted on or before February 1, 2022. ADDRESSES: You may submit comments, identified by FR 2034, 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 the OMB number or FR 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 from the Board’s website at https:// www.federalreserve.gov/apps/foia/ proposedregs.aspx as submitted, unless modified for technical reasons or to remove personally identifiable information at the commenter’s request. SUMMARY: 7 5 U.S.C. 552(b)(4). VerDate Sep<11>2014 18:06 Dec 02, 2021 Jkt 256001 Accordingly, comments will not be edited to remove any confidential business information, identifying information, or contact information. Public comments may also be viewed electronically or in paper 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 Officer for the Federal Reserve Board, 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. 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. On June 15, 1984, OMB delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve and assign OMB control numbers to collections of information conducted or sponsored by the Board. In exercising this delegated authority, the Board is directed to take every reasonable step to solicit comment. In determining whether to approve a collection of information, the Board will consider all comments received from the public and other agencies. During the comment period for this proposal, a copy of the proposed PRA OMB submission, including the draft reporting form and instructions, supporting statement, and other documentation, will be made available on the Board’s public website at https:// www.federalreserve.gov/apps/ reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears above. Final versions of these documents will be made available at https:// www.reginfo.gov/public/do/PRAMain, if approved. SUPPLEMENTARY INFORMATION: PO 00000 Frm 00042 Fmt 4703 Sfmt 4703 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. Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: Senior Credit Officer Opinion Survey on Dealer Financing Terms. Agency form number: FR 2034. OMB control number: 7100–0325. Frequency: Quarterly. Respondents: The current reporting panel consists of U.S. banking institutions and U.S. branches and agencies of foreign banks, the majority of which are affiliated with a Primary Government Securities Dealer.1 Other types of respondents, such as other depository institutions, bank holding companies, or other financial entities, may be surveyed when appropriate. Respondents may also include institutions that, while not primary dealers, play a significant role in overthe-counter derivatives or securities financing activities. Estimated number of respondents: 25. Estimated average hours per response: 5. Estimated annual burden hours: 500. 1 A list of the current Primary Dealers in Government Securities is available at https:// www.newyorkfed.org/markets/primarydealers.html. E:\FR\FM\03DEN1.SGM 03DEN1

Agencies

[Federal Register Volume 86, Number 230 (Friday, December 3, 2021)]
[Notices]
[Pages 68664-68666]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-26318]


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

FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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

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

DATES: Comments must be submitted on or before February 1, 2022.

ADDRESSES: You may submit comments, identified by FR HY-5, 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: [email protected]. Include the OMB 
number or FR 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 from the Board's website at 
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as 
submitted, unless modified for technical reasons or to remove 
personally identifiable information at the commenter's request. 
Accordingly, comments will not be edited to remove any confidential 
business information, identifying information, or contact information. 
Public comments may also be viewed electronically or in paper 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 Officer for the Federal 
Reserve Board, 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.

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.

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 collections of information conducted or 
sponsored by the Board. In exercising this delegated authority, the 
Board is directed to take every reasonable step to solicit comment. In 
determining whether to approve a collection of information, the Board 
will consider all comments received from the public and other agencies.

[[Page 68665]]

    During the comment period for this proposal, a copy of the proposed 
PRA OMB submission, including the draft reporting form and 
instructions, supporting statement, and other documentation, will be 
made available on the Board's public website at https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears above. Final 
versions of these documents will be made available at https://www.reginfo.gov/public/do/PRAMain, if approved.

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.

Proposal Under OMB Delegated Authority To Extend for Three Years, 
Without Revision, the Following Information Collection

    Report title: The Recordkeeping and Disclosure Requirements 
Associated with Regulation Y for Minimum Requirements for Appraisal 
Management Companies.
    Agency form number: FR HY-5.
    OMB control number: 7100-0370.
    Frequency: Event-generated.
    Respondents: The FR HY-5 panel comprises federally regulated and 
state regulated appraisal management companies (AMCs) and U.S. states, 
except that AMCs that oversee 15 or fewer appraisers in a state or less 
than 25 appraisers in two or more states are exempt from these 
recordkeeping and disclosure requirements.
    Estimated number of respondents: Section 225.193(a), 1; Section 
225.192(b), 1,239; Section 225.193(b), 1,146; Section 225.195(c), 13; 
Section 225.196, 51.
    Estimated average hours per response: Section 225.193(a), 40; 
Section 225.192(b), 0.08; Section 225.193(b), 1; Section 225.195(c), 2; 
Section 225.196, 1.
    Estimated annual burden hours: Section 225.193(a), 40; Section 
225.192(b), 99; Section 225.193(b), 2,292; Section 225.195(c), 26; 
Section 225.196, 51.
    General description of report: The Board's recordkeeping and 
disclosure requirements associated with the minimum requirements for 
AMCs are found in sections 225.192, 225.193, 225.195, and 225.196 of 
the Board's Regulation Y, Subpart M.
    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, as well as disciplinary 
and enforcement actions, to the Appraisal Subcommittee (ASC) of the 
Federal Financial Institutions Examination Council.
    Section 225.192(b) 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. 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 ASC'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 ASC the information required to be submitted by the ASC regulations 
or guidance concerning AMCs that operate in the state.
    Legal authorization and confidentiality: The Financial Institutions 
Reform, Recovery, and Enforcement Act of 1989 authorizes the FR HY-5. 
Agencies must ``jointly, by rule, establish minimum requirements to be 
applied by a State in the registration of [AMCs].'' \1\ The Agencies 
further must ``jointly promulgate regulations for the reporting of the 
activities of [AMCs] to the [ASC] in determining the payment of the 
annual registry fee.'' \2\ Each participating state with an appraiser 
certifying and licensing agency must also 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, and license and 
certification revocations, and license and certification suspensions on 
a timely basis to the national registry of the [ASC] . . . [3] 
including investigations initiated and disciplinary actions taken.'' 
\3\
---------------------------------------------------------------------------

    \1\ 12 U.S.C. 3353(a).
    \2\ 12 U.S.C. 3353(e).
    \3\ 12 U.S.C. 3338(a).
---------------------------------------------------------------------------

    The HY-5 reporting and recordkeeping requirements are required to 
obtain a benefit for states because AMCs, unless they are owned and 
controlled by a federally regulated depository institution, are barred 
from providing appraisal management services for federally related 
transactions in a state that has not adopted the minimum AMC 
requirements.\4\ The FR HY-5 recordkeeping and disclosure requirements 
are mandatory for an AMC that is: (1) An AMC that is a subsidiary owned 
and controlled by a financial institution and regulated by a federal 
financial institution regulatory agency,\5\ or (2) is registered with a 
state that has a state appraiser certifying and licensing agency.
---------------------------------------------------------------------------

    \4\ 12 U.S.C. 3353.
    \5\ 12 U.S.C. 3353(c).
---------------------------------------------------------------------------

    The Federal Reserve does not collect information subject to the HY-
5 recordkeeping and reporting requirements. If information subject to 
the HY-5 requirements is obtained as part of an examination or 
supervision of a financial institution, it may be considered 
confidential under exemption 8 of the Freedom of Information Act 
(FOIA).\6\ Information subject to the HY-5 requirements may also be 
kept confidential under FOIA

[[Page 68666]]

exemption 4 if it is confidential commercial or financial information 
that is both customarily and actually treated as private.\7\
---------------------------------------------------------------------------

    \6\ 5 U.S.C. 552(b)(8).
    \7\ 5 U.S.C. 552(b)(4).
---------------------------------------------------------------------------

    Consultation outside the agency: The Board, the Office of the 
Comptroller of the Currency, the Federal Deposit Insurance Corporation, 
and the Federal Housing Finance Agency collaborated in reassessing and 
confirming their burden estimates and methodologies for this submission 
and discussed potential improvements and evaluations for future 
submissions.

    Board of Governors of the Federal Reserve System, November 29, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-26318 Filed 12-2-21; 8:45 am]
BILLING CODE 6210-01-P
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