[Federal Register Volume 74, Number 41 (Wednesday, March 4, 2009)]
[Notices]
[Pages 9401-9403]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-4555]


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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:
    <bullet> 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.
    <bullet> Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
    <bullet> E-mail: <a href="/cdn-cgi/l/email-protection#790b1c1e0a571a1614141c170d0a391f1c1d1c0b18150b1c0a1c0b0f1c571e160f"><span class="__cf_email__" data-cfemail="a2d0c7c5d18cc1cdcfcfc7ccd6d1e2c4c7c6c7d0c3ced0c7d1c7d0d4c78cc5cdd4">[email protected]</span></a>. Include docket 
number in the subject line of the message.
    <bullet> FAX: 202/452-3819 or 202/452-3102.
    <bullet> 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


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