19930 Federal Register / Vol. 87, No. 66 / Wednesday, April 6, 2022 / Notices 

1 12 U.S.C. 248(s). The second section 11(s) of the 

Federal Reserve Act was added by section 318 of 

the Dodd-Frank Wall Street Reform and Consumer 

Protection Act. There are two subsections of section 

11 of the Federal Reserve Act designated as (s). The 

provision relating to assessments is described as the 

‘‘second’’ subsection (s) as it was enacted later in 

time. 

2 12 CFR 246.5(b). 

3 12 U.S.C. 248(i). 

4 5 U.S.C. 552(b)(4). 

collections of information conducted or 

sponsored by the Board. Boardapproved collections of information are 

incorporated into the official OMB 

inventory of currently approved 

collections of information. The OMB 

inventory, as well as copies of the PRA 

Submission, supporting statements, and 

approved collection of information 

instrument(s) are available at https://

www.reginfo.gov/public/do/PRAMain. 

These documents are also available on 

the Federal Reserve 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 Approval Under OMB Delegated 

Authority of the Extension for Three 

Years, Without Revision, of the 

Following Information Collection 

Report title: Reporting Provisions 

Associated with Regulation TT. 

Agency form number: FR TT. 

OMB control number: 7100–0369. 

Frequency: On occasion. 

Respondents: Bank holding 

companies (BHCs) and savings and loan 

holding companies (SLHCs) and all 

nonbank financial companies 

designated for Board supervision by the 

Financial Stability Oversight Council 

(FSOC). 

Estimated number of respondents: 3. 

Estimated average hours per response: 

40. 

Estimated annual burden hours: 120. 

General description of report: The 

Board’s Regulation TT—Supervision 

and Regulation Assessments of Fees (12 

CFR part 246) implements the second 

section 11(s) of the Federal Reserve Act 

(FRA),1 which directs the Board to 

collect assessments, fees, or other 

charges (collectively, assessments) from 

BHCs and SLHCs that meet a size 

threshold and from all nonbank 

financial companies designated for 

Board supervision by the FSOC 

(collectively, assessed companies) in an 

amount equal to the total expenses the 

Board estimates are necessary or 

appropriate to carry out its supervisory 

and regulatory responsibilities with 

respect to such companies. Pursuant to 

Regulation TT, the Board issues an 

annual notice of assessment to each 

assessed company. Assessed companies 

may file a written appeal with the Board 

regarding the assessment.2

Legal authorization and 

confidentiality: The FR TT is authorized 

pursuant to the second section 11(s) of 

the FRA, which requires the Board to 

collect the assessments, as described 

above, and section 11(i) of the FRA,3

which provides that the Board shall 

make all rules and regulations necessary 

to enable the Board to effectively 

perform the duties, functions, or 

services specified in the FRA. The FR 

TT reporting provisions are required to 

obtain a benefit. 

An assessed company may request 

confidential treatment of information 

contained in its appeal pursuant to 

exemption 4 of the Freedom of 

Information Act (FOIA), which protects 

nonpublic commercial or financial 

information, which is both customarily 

and actually treated as private by the 

respondent.4 Determinations of 

confidentiality based on FOIA 

exemption 4 would be made on a caseby-case basis. 

Current actions: On December 10, 

2021, the Board published a notice in 

the Federal Register (86 FR 70498) 

requesting public comment for 60 days 

on the extension, without revision, of 

the FR TT. The comment period for this 

notice expired on February 8, 2022. The 

Board did not receive any comments. 

Board of Governors of the Federal Reserve 

System, April 1, 2022. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2022–07230 Filed 4–5–22; 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 

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 

Recordkeeping and Disclosure 

Requirements Associated with 

Regulation Y for 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. 

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. 

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. Boardapproved collections of information are 

incorporated into the official OMB 

inventory of currently approved 

collections of information. The OMB 

inventory, as well as copies of the PRA 

Submission, supporting statements, and 

approved collection of information 

instrument(s) are available at https://

www.reginfo.gov/public/do/PRAMain. 

These documents are also available on 

the Federal Reserve 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 Approval Under OMB Delegated 

Authority of the Extension for Three 

Years, Without Revision, of the 

Following Information Collection 

Report title: 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), 1; Section 225.196, 

1. 

Estimated annual burden hours: 

Section 225.193(a), 40; Section 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 87, No. 66 / Wednesday, April 6, 2022 / Notices 19931 

1 12 U.S.C. 3353(a). 

2 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). 

7 5 U.S.C. 552(b)(4). 

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 

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 

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 

exemption 4 if it is confidential 

commercial or financial information 

that is both customarily and actually 

treated as private.7

Current actions: On December 3, 

2021, the Board published a notice in 

the Federal Register (86 FR 68664) 

requesting public comment for 60 days 

on the extension, without revision, of 

the FR HY–5. The comment period for 

this notice expired on February 1, 2022. 

The Board did not receive any 

comments. 

Board of Governors of the Federal Reserve 

System, April 1, 2022. 

Margaret Shanks, 

Deputy Secretary of the Board. 

[FR Doc. 2022–07224 Filed 4–5–22; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

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 April 21, 2022. 

A. Federal Reserve Bank of 

Minneapolis (Chris P. Wangen, 

Assistant Vice President), 90 Hennepin 

Avenue, Minneapolis, Minnesota 

55480–0291. Comments can also be sent 

electronically to MA@mpls.frb.org: 

1. Bosshard Bank Irrevocable Trust, u/ 

a/d October 21, 2021, South Dakota 

Trust Company LLC, as trustee, both of 

Sioux Falls, South Dakota; Andrew R. 

Bosshard, individually and as trust 

protector of the aforementioned trust, La 

Crosse, Wisconsin; Nathan BosshardBlackey, Mill Valley, California; and 

Elizabeth Bosshard-Blackey, Edina, 

Minnesota, both individually and as 

investment committee members of the 

aforementioned trust; and Elizabeth 

Bosshard-Blackey 2022 Irrevocable 

Bank Trust, u/a/d January 7, 2022, 

Andrew R. Bosshard, as trustee, both of 


lotter on DSK11XQN23PROD with NOTICES1