[Federal Register: March 4, 2009 (Volume 74, Number 41)]
[Notices]
[Page 9401-9403]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr04mr09-41]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: Background. On June 15, 1984, the Office of Management and
Budget (OMB) delegated to the Board of Governors of the Federal Reserve
System (Board) its approval authority under the Paperwork Reduction Act
(PRA), as per 5 CFR 1320.16, to approve of and assign OMB control
numbers to collection of information requests and requirements
conducted or sponsored by the Board under conditions set forth in 5 CFR
1320 Appendix A.1. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. Copies of the Paperwork Reduction Act
Submission, supporting statements and approved collection of
information instruments are placed into OMB's public docket files. The
Federal Reserve 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.
Request for Comment on Information Collection Proposals
The following information collections, which are being handled
under this delegated authority, have received initial Board approval
and are hereby published for comment. At the end of the comment period,
the proposed information collections, along with an analysis of
comments and recommendations received, will be submitted to the Board
for final approval under OMB delegated authority. Comments are invited
on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
b. The accuracy of the Federal Reserve'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; and
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.
DATES: Comments must be submitted on or before May 4, 2009.
ADDRESSES: You may submit comments, identified by FR H-4, FR 2064, RFP/
RFPQ, or Reg W-IC by any of the following methods:
Agency Web Site: http://www.federalreserve.gov. Follow the
instructions for submitting comments at
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http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: regs.comments@federalreserve.gov. Include docket
number in the subject line of the message.
FAX: 202/452-3819 or 202/452-3102.
Mail: Jennifer J. Johnson, 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 Web site at
http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm 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 MP-500 of the Board's Martin Building (20th and C
Streets, NW.) between 9 a.m. and 5 p.m. on weekdays.
Additionally, commenters should send a copy of their comments to
the OMB Desk Officer by mail to the Office of Information and
Regulatory Affairs, U.S. 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: A copy of the PRA OMB submission
including, the proposed reporting form and instructions, supporting
statement, and other documentation will be placed into OMB's public
docket files, once approved. These documents will also be made
available on the Federal Reserve Board's public Web site at: http://
www.federalreserve.gov/boarddocs/reportforms/review.cfm or may be
requested from the agency clearance officer, whose name appears below.
Michelle Shore, Federal Reserve Board Clearance Officer (202-452-
3829), Division of Research and Statistics, Board of Governors of the
Federal Reserve System, Washington, DC 20551. Telecommunications Device
for the Deaf (TDD) users may contact (202-263-4869), Board of Governors
of the Federal Reserve System, Washington, DC 20551.
Proposals To Approve Under OMB Delegated Authority the Extension for
Three Years, Without Revision, of the Following Reports
1. Report title: Recordkeeping Requirements Associated with Real
Estate Appraisal Standards for Federally Related Transactions Pursuant
to Regulations H and Y.
Agency form number: FR H-4.
OMB control number: 7100-0250.
Frequency: Event-generated.
Reporters: State Member Banks (SMBs) and nonbank subsidiaries of
Bank Holding Companies (BHCs).
Annual reporting hours: SMBs, 35,120 hours; nonbank subsidiaries of
BHCs, 59,823 hours.
Estimated average hours per response: 0.25 hours.
Number of respondents: 1,490.
Small businesses are not affected.
General description of report: This information collection is
mandatory (12 U.S.C. 3339). Further, the Board has the authority to
collect information, including appraisals, during the examination of a
SMB (12 U.S.C. 248(a)) and a BHC (12 U.S.C. 1844(c)). Such documents
would generally be exempt from disclosure under the Freedom of
Information Act (FOIA) (5 U.S.C 552(b)(4) and (b)(8)). Since the
Federal Reserve does not collect this information, no issue of
confidentiality under FOIA arises.
Abstract: For federally related transactions, Title XI of the
Financial Institutions Reform, Recovery, and Enforcement Act of 1989
requires SMBs and BHCs with credit extending subsidiaries to use
appraisals prepared in accordance with the Uniform Standards of
Professional Appraisal Practice promulgated by the Appraisal Standards
Board of the Appraisal Foundation. Generally, these standards include
the methods and techniques used to analyze a property as well as the
requirements for reporting such analysis and a value conclusion in the
appraisal. There is no formal reporting form.
2. Report title: Recordkeeping Requirements Associated with Changes
in Foreign Investments (Made Pursuant to Regulation K).
Agency form number: FR 2064.
OMB control number: 7100-0109.
Frequency: On-occasion.
Reporters: State member banks (SMBs), Edge and agreement
corporations, and bank holding companies (BHCs).
Annual reporting hours: 320 hours.
Estimated average hours per response: 2 hours.
Number of respondents: 40.
Small businesses are not affected.
General description of report: The recordkeeping requirements of
this information collection are mandatory (Section 5(c) of the BHC Act
(12 U.S.C. 1844(c)); Sections 7 and 13(a) of the International Banking
Act of 1978 (12 U.S.C. 3106 and 3108(a)); Section 25 of the Federal
Reserve Act (FRA) (12 U.S.C. 601-604a); Section 25A of the FRA (12
U.S.C. 611-631); and Regulation K (12 CFR 211.8(c)). Since the Federal
Reserve does not collect any records, no issue of confidentiality under
the Freedom of Information Act (FOIA) arises. FOIA will only be
implicated if the Board's examiners retain a copy of the records in
their examination or supervision of the institution, and would be
exempt from disclosure pursuant to FOIA (5 U.S.C. 552(b)(4), (b)(6),
and (b)(8)).
Abstract: Internationally active U.S. banking organizations are
expected to maintain adequate internal records to allow examiners to
review for compliance with the investment provisions of Regulation K.
For each investment made under Subpart A of Regulation K, records
should be maintained regarding the type of investment, for example,
equity (voting shares, nonvoting shares, partnerships, interests
conferring ownership rights, participating loans), binding commitments,
capital contributions, and subordinated debt; the amount of the
investment; the percentage ownership; activities conducted by the
company and the legal authority for such activities; and whether the
investment was made under general consent, prior notice, or specific
consent authority. With respect to investments made under general
consent authority, information also must be maintained that
demonstrates compliance with the various limits set out in Section
211.9 of Regulation K.
3. Report titles: Request for Proposal (RFP) and Request for Price
Quotations (RFPQ).
Agency form numbers: RFP/RFPQ.
OMB control number: 7100-0180.
Frequency: On-occasion.
Reporters: Vendors and suppliers.
Annual reporting hours: RFP, 7,500 hours; and RFPQ, 1,600 hours.
Estimated average hours per response: RFP, 50 hours; and RFPQ, 2
hours.
Number of respondents: RFP, 150; and RFPQ, 800.
Small businesses are affected.
General description of report: This information collection is
required to obtain a benefit (12 U.S.C. 243, 244, and 248(l)). The
information obtained in evaluating a contract bid or price quotation is
not regarded as confidential unless offeror requests confidentiality.
The Board staff must review each request received under the Freedom of
Information Act (FOIA; 5 U.S.C. Sec. 552(b)(4)) to determine if the
information may be withheld pursuant to applicable FOIA exemptions.
Abstract: The Federal Reserve uses the RFP and the RFPQ as needed
to
[[Page 9403]]
obtain competitive bids and contracts submitted by vendors (offerors).
Depending upon the goods and services for which the Federal Reserve is
seeking bids, the offeror is requested to provide either prices for
providing the goods or services (RFPQ) or a document covering not only
prices, but the means of performing a particular service and a
description of the qualification of the staff of the offeror who will
perform the service (RFP). This information is used to analyze the
proposals and select the offer providing the best value.
4. Report title: Notice Requirements in Connection with Regulation
W (12 CFR Part 223 Transactions Between Member Banks and Their
Affiliates).
Agency form number: Reg W.
OMB control number: 7100-0304.
Frequency: Event-generated.
Reporters: Insured depository institutions and uninsured member
banks.
Annual reporting hours: 220 hours.
Estimated average hours per response: Loan participation renewal
notice, 2 hours; Acquisition notice, 6 hours; Internal corporate
reorganization transactions notice, 6 hours; and Section 23A additional
exemption notice, 10 hours.
Number of respondents: 28.
Small businesses are not affected.
General description of report: This information collection is
required to evidence compliance with sections 23A and 23B of the
Federal Reserve Act (12 U.S.C. 371c(f) and 371c-1(e)). Confidential and
proprietary information collected for the purposes of the Loan
Participation Renewal notice 12 CFR 223.15(b)(4) may be protected under
the authority of the Freedom of Information Act (5 U.S.C. 552(b)(4) and
(b)(8)). Section (b)(4) exempts information deemed competitively
sensitive from disclosure and Section (b)(8) exempts information
``contained in or related to examination, operating, or condition
reports prepared by, on behalf of, or for the use of an agency
responsible for the regulation or supervision of financial
institutions.''
Abstract: On December 12, 2002, the Federal Reserve published a
Federal Register notice \1\ adopting Reg W to implement sections 23A
and 23B. The Regulation was effective April 1, 2003. The Board issued
Reg W for several reasons. First, the regulatory framework established
by the Gramm-Leach-Bliley Act \2\ emphasizes the importance of sections
23A and 23B as a means to protect depository institutions from losses
in transactions with affiliates. Second, adoption of a comprehensive
rule simplified the interpretation and application of sections 23A and
23B, ensured that the statute is consistently interpreted and applied,
and minimized burden on banking organizations to the extent consistent
with the statute's goals. Third, issuing a comprehensive rule allowed
the public an opportunity to comment on Federal Reserve interpretations
of sections 23A and 23B.
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\1\ (67 FR 76603).
\2\ Public Law No. 106-102, 113 Stat. 1338 (1999).
Board of Governors of the Federal Reserve System, February 27,
2009.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E9-4555 Filed 3-3-09; 8:45 am]
BILLING CODE 6210-01-P