43652 Federal Register / Vol. 86, No. 151 / Tuesday, August 10, 2021 / Notices 

project in accordance with the terms 

and conditions of the license after the 

minor or minor part license expires, 

until the Commission acts on its 

application. If the licensee of such a 

project has not filed an application for 

a subsequent license, then it may be 

required, pursuant to 18 CFR 16.21(b), 

to continue project operations until the 

Commission issues someone else a 

license for the project or otherwise 

orders disposition of the project. 

If the project is subject to section 15 

of the FPA, notice is hereby given that 

an annual license for Project No. 3063 

is issued to Blackstone Hydro 

Associates for a period effective August 

1, 2021 through July 31, 2022 or until 

the issuance of a new license for the 

project or other disposition under the 

FPA, whichever comes first. If issuance 

of a new license (or other disposition) 

does not take place on or before July 31, 

2022, notice is hereby given that, 

pursuant to 18 CFR 16.18(c), an annual 

license under section 15(a)(1) of the 

FPA is renewed automatically without 

further order or notice by the 

Commission, unless the Commission 

orders otherwise. 

If the project is not subject to section 

15 of the FPA, notice is hereby given 

that Blackstone Hydro Associates is 

authorized to continue operation of the 

Central Falls Hydroelectric Project, until 

such time as the Commission acts on its 

application for a subsequent license. 

Dated: August 4, 2021. 

Kimberly D. Bose, 

Secretary. 

[FR Doc. 2021–16990 Filed 8–9–21; 8:45 am] 

BILLING CODE 6717–01–P 

ENVIRONMENTAL PROTECTION 

AGENCY 

[FRL–8848–01–OW] 

Notice of Public Webinar Briefing 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Notice of public webinar 

briefing. 

SUMMARY: The Environmental Protection 

Agency (EPA)’s Environmental 

Financial Advisory Board (EFAB) will 

hold a public webinar briefing on 

August 26, 2021. The purpose of the 

webinar will be for an Opportunity 

Zones Practitioner Panel for the EFAB 

Opportunity Zones Workgroup. Due to 

interest from the full Board, this 

webinar is being opened to the public. 

DATES: The webinar will be held on 

August 26, 2021 from 12 p.m. to 1:30 

p.m. (Eastern Time). 

ADDRESSES: The webinar briefing will be 

conducted via webinar only and is open 

to the public. Interested persons must 

register in advance at the weblink below 

to access the meeting. 

FOR FURTHER INFORMATION CONTACT: Any 

member of the public who wants 

information about the meeting may 

contact Ed Chu, the Designated Federal 

Officer, via telephone/voice mail at 

(913) 551–7333 or email to efab@

epa.gov. General information 

concerning the EFAB is available at 

https://www.epa.gov/ 

waterfinancecenter/efab. 

SUPPLEMENTARY INFORMATION: 

Background: The EFAB is an EPA 

advisory committee chartered under the 

Federal Advisory Committee Act 

(FACA), 5 U.S.C. app. 2, to provide 

advice and recommendations to EPA on 

innovative approaches to funding 

environmental programs, projects, and 

activities. Administrative support for 

the EFAB is provided by the Water 

Infrastructure and Resiliency Finance 

Center within EPA’s Office of Water. 

Pursuant to FACA and EPA policy, 

notice is hereby given that the EFAB 

will hold a public webinar briefing for 

the following purpose: 

(1) The purpose of the webinar will be 

for members of the EFAB to hear from 

Opportunity Zones practitioners who 

work on Opportunity Zones investments 

in disadvantaged communities and are 

willing to share their experiences to 

support the workgroup’s charge. The 

webinar is open to the public, but no 

oral public comments will be accepted 

during the briefing. Written public 

comments relating to the Opportunity 

Zones Workgroup should be provided in 

accordance with the instructions below 

on written statements. 

Registration for the Meeting: Register 

for the meeting at https://

www.eventbrite.com/e/us-epaenvironmental-financial-advisoryboard-opportunity-zones-panel-tickets164877317495. 

Availability of Meeting Materials: 

Meeting materials (including the 

meeting agenda and briefing materials) 

will be available on EPA’s website at 

https://www.epa.gov/ 

waterfinancecenter/efab. 

Procedures for Providing Public Input: 

Public comment for consideration by 

EPA’s federal advisory committees has a 

different purpose from public comment 

provided to EPA program offices. 

Therefore, the process for submitting 

comments to a federal advisory 

committee is different from the process 

used to submit comments to an EPA 

program office. Federal advisory 

committees provide independent advice 

to EPA. Members of the public can 

submit comments on matters being 

considered by the EFAB for 

consideration by members as they 

develop their advice and 

recommendations to EPA. 

Written Statements: Written 

statements for the webinar should be 

received by August 20, 2021 so that the 

information can be made available to 

the EFAB for its consideration. Written 

statements should be sent via email to 

efab@epa.gov. Members of the public 

should be aware that their personal 

contact information, if included in any 

written comments, may be posted to the 

EFAB website. Copyrighted material 

will not be posted without explicit 

permission of the copyright holder. 

Accessibility: For information on 

access or services for individuals with 

disabilities or to request 

accommodations for a disability, please 

register for the webinar and list any 

special requirements or 

accommodations needed on the 

registration form at least 10 business 

days prior to the meeting to allow as 

much time as possible to process your 

request. 

Dated: August 5, 2021. 

Andrew D. Sawyers, 

Director, Office of Wastewater Management, 

Office of Water. 

[FR Doc. 2021–17030 Filed 8–9–21; 8:45 am] 

BILLING CODE 6560–50–P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

[OMB No. 3064–0183; –0195; –0200] 

Agency Information Collection 

Activities: Proposed Information 

Collection Renewal; Comment Request 

AGENCY: Federal Deposit Insurance 

Corporation (FDIC). 

ACTION: Notice and request for comment. 

SUMMARY: The FDIC, as part of its 

obligations under the Paperwork 

Reduction Act of 1995 (PRA), invites the 

general public and other Federal 

agencies to take this opportunity to 

comment on the renewal of the existing 

information collections described below 

(OMB Control No. 3064–0183; –0195; 

and –0200). 

DATES: Comments must be submitted on 

or before October 12, 2021. 

ADDRESSES: Interested parties are 

invited to submit written comments to 

the FDIC by any of the following 

methods: 

• Agency website: https://

www.fdic.gov/resources/regulations/ 

federal-register-publications/. 


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Federal Register / Vol. 86, No. 151 / Tuesday, August 10, 2021 / Notices 43653 

1Public Law 111–2–3, 124 Stat. 1376 (2010). 

2 79 FR 77740. 

3Each agency adopted the same rule text but each 

agency’s version of its rule is codified in different 

parts of the Code of Federal Regulations with 

substantially identical section numbers (e.g.__.01;

_.02, etc.) Rule citations herein are to FDIC’s 

version of the Rule which is codified at 12 CFR part 

373. 

4 12 CFR 373.2. 

5By agreement among the agencies, the FDIC’s 

Division of Insurance Research, in consultation 

with its counterparts at the other agencies, prepared 

and documented the burden estimation 

methodology used by all agencies in their 

respective ICRs. 

• Email: comments@fdic.gov. Include 

the name and number of the collection 

in the subject line of the message. 

• Mail: Manny Cabeza (202–898– 

3767), Regulatory Counsel, MB–3128, 

Federal Deposit Insurance Corporation, 

550 17th Street NW, Washington, DC 

20429. 

• Hand Delivery: Comments may be 

hand-delivered to the guard station at 

the rear of the 17th Street building 

(located on F Street), on business days 

between 7:00 a.m. and 5:00 p.m. 

All comments should refer to the 

relevant OMB control number. A copy 

of the comments may also be submitted 

to the OMB desk officer for the FDIC: 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, New Executive Office Building, 

Washington, DC 20503. 

FOR FURTHER INFORMATION CONTACT: 

Manny Cabeza, Regulatory Counsel, 

202–898–3767, mcabeza@fdic.gov, MB– 

3128, Federal Deposit Insurance 

Corporation, 550 17th Street NW, 

Washington, DC 20429. 

SUPPLEMENTARY INFORMATION: Proposal 

to renew the following currently 

approved collections of information: 

1. Title: Credit Risk Retention. 

OMB Number: 3064–0183. 

Form Number: None. 

Affected Public: Insured state 

nonmember banks, state savings 

institutions, insured state branches of 

foreign banks, and any subsidiary of the 

aforementioned entities. 

General Description of Collection: 

This information collection request 

comprises disclosure and recordkeeping 

requirements under the credit risk 

retention rule issued pursuant to section 

15G of the Securities Exchange Act of 

1934 (15 U.S.C. 78o–11), as added by 

Section 941 of the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act (‘‘Dodd-Frank’’).1 The Credit Risk 

Retention rule (‘‘the Rule’’) was jointly 

issued in 2015 by the Federal Deposit 

Insurance Corporation (‘‘FDIC’’), the 

Office of the Comptroller of the 

Currency (‘‘OCC’’), the Federal Reserve 

Board (‘‘Board’’), the Securities and 

Exchange Commission (‘‘SEC’’) and, 

with respect to the portions of the Rule 

addressing the securitization of 

residential mortgages, the Federal 

Housing Finance Agency (‘‘FHFA’’) and 

the Department of Housing and Urban 

Development (‘‘HUD’’).2 The FDIC 

regulations corresponding to the Rule 

are found at 12 CFR part 373.3

Section 941 of Dodd-Frank requires 

the Board, the FDIC, the OCC 

(collectively, the ‘‘Federal banking 

agencies’’), the Commission and, in the 

case of the securitization of any 

‘‘residential mortgage asset,’’ together 

with HUD and FHFA, to jointly 

prescribe regulations that (i) require a an 

issuer of an asset-backed security or a 

person who organizes and initiates an 

asset backed securities transaction by 

selling or transferring assets, either 

directly or indirectly, including through 

an affiliate, to the issuer (‘‘issuer or 

organizer’’) to retain not less than five 

percent of the credit risk of any asset 

that the issuer or organizer, through the 

issuance of an asset-backed security 

(‘‘ABS’’), transfers, sells or conveys to a 

third party and (ii) prohibit an issuer or 

organizer from directly or indirectly 

hedging or otherwise transferring the 

credit risk that the issuer or organizer is 

required to retain under section 941 and 

the agencies’ implementing rules. 

Exempted from the credit risk retention 

requirements of section 941 are certain 

types of securitization transactions, 

including ABS collateralized solely by 

qualified residential mortgages 

(‘‘QRMs’’), as that term is defined in the 

Rule. In addition, Section 941 provides 

that the agencies must permit an issuer 

or organizer to retain less than five 

percent of the credit risk of residential 

mortgage loans, commercial real estate 

(‘‘CRE’’) loans, commercial loans and 

automobile loans that are transferred, 

sold or conveyed through the issuance 

of ABS by the issuer or organizer, if the 

loans meet underwriting standards 

established by the Federal banking 

agencies. 

The FDIC implemented Section 941 of 

Dodd-Frank through 12 CFR part 373 

(the ‘‘Rule’’). The Rule defines a 

securitizer as (1) The depositor of the 

asset-backed securities (if the depositor 

is not the sponsor); or (2) The sponsor 

of the asset-backed securities.4 The Rule 

provides a menu of credit risk retention 

options from which securitizers can 

choose and sets out the standards, 

including disclosure, recordkeeping, 

and reporting requirements, for each 

option; identifies the eligibility criteria, 

including certification and disclosure 

requirements, that must be met for ABS 

offerings to qualify for the QRM and 

other exemptions; specifies the 

underwriting standards for CRE loans, 

commercial loans and automobile loans, 

as well as disclosure, certification and 

recordkeeping requirements, that must 

be met for ABS issuances collateralized 

by such loans to qualify for reduced 

credit risk retention; and sets forth the 

circumstances under which retention 

obligations may be allocated by 

sponsors to originators, including 

disclosure and monitoring 

requirements. 

Part 373 contains several 

requirements that qualify as information 

collections under the Paperwork 

Reduction Act of 1995 (‘‘PRA’’). The 

information collection requirements are 

found in sections 373.4; 373.5; 373.6; 

373.7; 373.8; 373.9; 373.10; 373.11; 

373.13; 373.15; 373.16; 373.17; 373.18; 

and 373.19(g). The recordkeeping 

requirements relate primarily to (i) the 

adoption and maintenance of various 

policies and procedures to ensure and 

monitor compliance with regulatory 

requirements and (ii) certifications, 

including as to the effectiveness of 

internal supervisory controls. The 

required disclosures for each risk 

retention option are intended to provide 

investors with material information 

concerning the sponsor’s retained 

interest in a securitization transaction 

(e.g., the amount, form and nature of the 

retained interest, material assumptions 

and methodology, representations and 

warranties). Compliance with the 

information collection requirements is 

mandatory, responses to the information 

collections will not be kept confidential 

and, with the exception of the 

recordkeeping requirements in sections 

373.4(d), 373.5(k)(3) and 373.15(d), the 

Rule does not specify a mandatory 

retention period for the information. 

Burden Estimate: 

Change Is Burden Estimation 

Methodology 

(1) Prior Methodology 

To determine the total paperwork 

burden for the requirements contained 

in the Credit Risk Retention Rule, FDIC 

first estimated the universe of sponsors 

that would be required to comply with 

the disclosure and recordkeeping 

requirements. FDIC estimated that 

approximately 270 unique sponsors 

conduct ABS offerings each year.5 This 

estimate was based on the average 

number of ABS offerings from 2007 

through 2017 reported by the ABS 

database Asset-Backed Alert for all nonCMBS transactions and by Commercial 

Mortgage Alert for all CMBS 


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43654 Federal Register / Vol. 86, No. 151 / Tuesday, August 10, 2021 / Notices 

6 Data was provided by the Securities and 

Exchange Commission. See SEC supporting 

statement for its information collection for the 

Credit Risk Retention rule (3235–0712) available at 

https://www.reginfo.gov/public/do/ 

PRAViewDocument?ref_nbr=201803-3235-014. 

7The allocation percentages among the agencies 

were based on the agencies’ latest assessment of 

data as of August 13, 2018, including the 

securitization activity reported by FDIC-insured 

depository institutions in the June 30, 2017 

Consolidated Reports of Condition. 

8Based on ABS issuance data from Asset-Backed 

Alert on the initial terms of offerings, supplemented 

with information from Commercial Mortgage Alert. 

This estimate included registered offerings, 

offerings made under Securities Act Rule 144A, and 

traditional private placements. This estimate was 

for offerings not exempted under §§ _.19(a)–(f) and 

_.20 of the Rule. 

9Estimate of 1,400 offerings per year, minus the 

estimate of the number of offerings qualifying for 

an exemption under §§ 373.13, 373.15, and 19(g) as 

described in (b) and (c) above (i.e. 1,400 minus (b) 

110 minus (c) 132 equals 1,158). 

10For purposes of this calculation, the horizontal, 

vertical, and combined horizontal and vertical risk 

retention methods under the standard risk retention 

option (§ 373.4) are each counted as a separate 

option under subpart B of the rule. The other six 

are: § 373.5; § 373.6; § 373.7; § 373.8; § 373.9; and 

§ 373.10. 

11The supporting statement for the OCC’s 2021 

renewal is titled ‘‘1557–0249 Credit Risk Retention 

Supporting Statement 5–18–21 1244.docx’’and can 

be found at https://www.reginfo.gov/public/do/ 

PRAViewDocument?ref_nbr=202101-1557-003. 

12The SBA defines a small banking organization 

as having $600 million or less in assets, where an 

organization’s ‘‘assets are determined by averaging 

the assets reported on its four quarterly financial 

statements for the preceding year.’’ See 13 CFR 

121.201 (as amended by 84 FR 34261, effective 

August 19, 2019). In its determination, the ‘‘SBA 

counts the receipts, employees, or other measure of 

size of the concern whose size is at issue and all 

of its domestic and foreign affiliates.’’ See 13 CFR 

121.103. Following these regulations, the FDIC uses 

a respondent’s affiliated and acquired assets, 

averaged over the preceding four quarters, to 

determine whether the respondent is ‘‘small’’ for 

the purposes of RFA. 

13Schedule RC–S, item 1 on forms 031 and 041; 

Supplemental Info, item 4(a) on form 051. 

14Schedule RC–V, item 1(c) on forms 031 and 

041. 

transactions.6 Of the 270 sponsors, the 

agencies assigned 8 percent of these 

sponsors to the Board, 12 percent to 

FDIC, 13 percent to the OCC, and 67 

percent to the Commission.7

Next, FDIC estimated how many 

respondents keep records and make 

required disclosures by estimating the 

proportionate amount of offerings per 

year for each agency. The estimate was 

based on the average number of ABS 

offerings from 2007 through 2017. The 

agencies estimated the total number of 

annual offerings per year to be 1,400 8

which resulted in the following: 

(a) 13 offerings per year will be 

subject to disclosure and recordkeeping 

requirements under § 373.11, which are 

divided equally among the four agencies 

(i.e., 3.25 offerings per year per agency); 

(b) 110 offerings per year were 

estimated to be subject to disclosure and 

recordkeeping requirements under 

§§ 373.13 and 373.19(g), which were 

divided proportionately among the 

agencies based on the entity percentages 

described above: 

(i) Nine (9) offerings per year for the 

Board (8%); 

(ii) 13 offerings per year for the FDIC 

(12%); 

(iii) 14 offerings per year for the OCC 

(13%); 

(iv) 74 offerings per year for the 

Commission (67%). 

(c) 132 offerings per year were 

estimated to be subject to the disclosure 

requirements under § 373.15, which 

were divided proportionately among the 

agencies based on the entity percentages 

described above: 

(i) 11 offerings per year for the Board 

(8%); 

(ii) 16 offerings per year for the FDIC 

(12%); 

(iii) 17 offerings per year for the OCC 

(13%); 

(iv) 88 offerings per year for the 

Commission (67%). 

(d) Of these 132 offerings per year, 44 

offerings per year were estimated to be 

subject to disclosure and recordkeeping 

requirements under §§ 373.16, 373.17, 

and 373.18, respectively, which were 

divided proportionately among the 

agencies based on the entity percentages 

described above: 

(i) 4 offerings per year for each section 

for the Board (8%); 

(ii) 6 offerings per year for each 

section for the FDIC (12%); 

(iii) 6 offerings per year for each 

section for the OCC (13%); 

(iv) 29 offerings per year for each 

section for the Commission (67%). 

To obtain the estimated number of 

responses (equal to the number of 

offerings) for each option in subpart B 

of the rule, FDIC multiplied the number 

of offerings estimated to be subject to 

the base risk retention requirements 

(i.e., 1,158) 9 by the sponsor percentages 

described above. The result was the 

number of base risk retention offerings 

per year per agency. For the FDIC, this 

was calculated by multiplying 1,158 

offerings per year by 12 percent, which 

equals 139 offerings per year. This 

number was then divided by the 

number of base risk retention options 

under subpart B of the rule (i.e., nine) 10

to arrive at the estimate of the number 

of offerings per year per agency per base 

risk retention option. For the FDIC, this 

was calculated by dividing 139 offerings 

per year by nine options, resulting in 15 

offerings per year per base risk retention 

option. 

The agencies assumed that 90% of 

institutions use the vertical interest 

form of risk retention while the 

remaining 10% use the combined 

vertical and horizontal form of risk 

retention. The burden tables above use 

this allocation and of the 45 responses 

attributed to § 373.4, we allocated 40 

(90%) to the vertical form of risk 

retention and 5 (10%) to the other two 

options (1 response to the horizontal 

form of risk retention and 4 responses 

to the combined vertical and horizontal 

form of risk retention. 

FDIC believes that the burden 

estimation methodology previously 

used overestimates the number of ABS 

offerings by FDIC-supervised 

institutions. Furthermore, the OCC has 

confirmed that the estimates it used for 

its 2021 renewal of OCC’s Credit Risk 

Retention information collection are 

based on the expertise of the OCC’s 

subject matter experts rather than the 

2015 interagency methodology.11 As a 

result of these two factors, the FDIC has 

decided to diverge from the interagency 

methodology used in 2015 and 2018 and 

instead use the new methodology 

described below to estimate burden for 

this information collection. 

(2) New Methodology 

Potential respondents to this 

information collection (IC) are FDICsupervised insured depository 

institutions (‘‘IDIs’’) including state 

nonmember banks, state savings 

institutions, insured state branches of 

foreign banks, and any subsidiary of the 

aforementioned entities. As of December 

31, 2020, the FDIC supervised 3,227 

state nonmember banks, state savings 

institutions, and insured state branches 

of foreign banks. Of these 3,227 IDIs, 

2,382 are small for the purposes of the 

Regulatory Flexibility Act (RFA).12

Respondents to this information 

collection are FDIC-supervised IDIs that 

are securitizers of ABS. To generate a 

universe of potential securitizers, FDIC 

obtained data from Call Reports for the 

quarter ending on December 31 for the 

years 2018, 2019, and 2020, for all FDICsupervised IDIs that reported a non-zero 

amount in either: (a) Outstanding 

principal balance of assets sold and 

securitized with servicing retained or 

with recourse or other seller-provided 

credit enhancements; 13 or (b) amount of 

loans and leases held for investment, 

net of allowance, and held for sale held 

by consolidated variable interest entities 

(VIEs).14 This search resulted in a list of 

79 IDIs that were potential securitizers. 

Using this list, FDIC searched for each 

IDI’s name in FitchConnect’s repository 


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15http://app.fitchconnect.com, using ‘‘ABS’’, 

‘‘CMBS’’, and ‘‘RMBS’’ sections under the ‘‘Sectors’’ 

tab, last accessed on June 11, 2021. 

16https://www.intex.com/main/. 

17With the noted exception of § 373.10 Qualified 

Tender Option Bonds, which has no recordkeeping 

burden associated with it. 

18 4+3+4=11 total deals. 11/(3 years*2 

respondents)=1.83 responses per respondent 

annually. 

19 0+0+13=13 total deals. 13/(3 years*2 

respondents)=2.17 responses per respondent 

annually. 

20 8+6+0=14 total deals. 14/(3 years*3 

respondents)=1.56 responses per respondent 

annually. 

21As of December 31, 2020. 

22The Loan Syndication and Trading Association 

v. Securities and Exchange Commission and Board 

of Governors of the Federal Reserve System (No. 

17–5004). 

of ABS offerings (‘‘deals’’) 15 and 

compiled a list of deals for which an IDI 

was listed as the issuer, sponsor, 

originator, or servicer of the offering. 

For IDIs for which deals were not found 

on FitchConnect, the following method 

was followed: The queried Call Report 

item labeled ‘‘(a)’’ above includes assets 

sold with recourse or other sellerprovided credit enhancements, which 

are outside the scope of the Credit Risk 

Retention rule. To identify IDIs which 

securitized from those that did not, a 

$75 million threshold of year over year 

growth in that item is used to identify 

new securitizations in 2018, 2019, and 

2020, as FDIC assumes that growth of 

less than $75 million would be unlikely 

to reflect sponsorship or issuance of 

new term ABS offerings during that 

period. This method yielded a list of 20 

institutions. FDIC reviewed examination 

records for the 20 IDIs identified as 

potential securitizers to determine 

which institutions actually securitize. 

FDIC cross-referenced the list of 

securitizing IDIs and the list of 

aforementioned ABS offering naming 

conventions found using FitchConnect 

with Intex’s database of prospectuses.16

From this cross-referencing, FDIC found 

a count of deals associated with each 

deal name. Finally, FDIC determined 

whether the sponsor or depositor for 

each deal was an FDIC-supervised IDI or 

subsidiary of an FDIC-supervised 

institution by reading the prospectus of 

each deal. 

Once the set of deals, with 

corresponding FDIC-supervised 

securitizers, was constructed, FDIC 

matched each deal with the sections in 

Part 373 that imposed one or more PRA 

requirements on that deal. Most sections 

impose both disclosure and 

recordkeeping requirements.17 For those 

sections, FDIC separately estimated the 

burdens for each of the two types of 

PRA requirements. The following 

details the estimated respondent counts 

for each of these sections: 

(a) Two FDIC-supervised IDIs were 

involved in deals in which credit risk 

was retained through horizontal interest 

(§ 373.4(a)(2) Standard Risk Retention— 

Horizontal Interest). These two IDIs 

were involved in four, three, and four 

such deals in 2018, 2019, and 2020, 

respectively. FDIC therefore estimates 

two annual respondents, with an 

average annual response rate of two 

responses per respondent, for the 

disclosure requirement associated with 

§ 373.4(a)(2) and the corresponding 

reporting requirement in § 373.4(d).18

(b) Two FDIC-supervised IDIs were 

involved in deals in which credit risk 

was retained through vertical interest 

(§ 373.4(a)(1) Standard Risk Retention— 

Vertical Interest). These two IDIs were 

involved in 0, 0, and 13 such deals in 

2018, 2019, and 2020, respectively. 

FDIC therefore estimates two annual 

respondents, with an average annual 

response rate of two responses per 

respondent, for the disclosure 

requirement associated with 

§ 373.4(a)(1) and the corresponding 

reporting requirement in § 373.4(d).19

(c) Three FDIC-supervised IDIs were 

involved in deals in which credit risk 

was retained through revolving master 

trusts (§ 373.5 Revolving Master Trusts). 

These three IDIs were involved in eight, 

six, and zero such deals in 2018, 2019, 

and 2020, respectively. FDIC therefore 

estimates three annual respondents, 

with an average annual response rate of 

two responses per respondent, for the 

disclosure requirement associated with 

§ 373.5 and the corresponding reporting 

requirement in § 373.5(k)(3).20

Using the above methodology, FDIC 

could not find any ABS offerings that (1) 

involved an FDIC-supervised IDI or 

subsidiary of an FDIC-supervised IDI as 

a securitizer and (2) were subject to the 

PRA requirements listed in one or more 

of the following ten sections: 

§§ 373.4(a)(3); 373.6; 373.7; 373.10; 

373.11; 373.13; 373.15; 373.16; 373.17; 

and 373.18. It is possible that an FDICsupervised IDI or subsidiary of an FDICsupervised IDI would be a respondent to 

burden items related to these sections in 

the next three years. As such, FDIC is 

using one respondent and one annual 

response per respondent for the 

disclosure and recordkeeping 

requirements related to each of these ten 

sections to preserve the associated 

burden estimate. 

Of the seven unique institutions with 

securitizations between 2018 and 2020, 

none are considered small for the 

purposes of the RFA.21

The estimated time per response 

varies by burden item, and these 

estimates are unchanged from the 

previous renewal which remains in line 

with the burden estimated adopted by 

the agencies. 

Two burden items included in the 

2018 information collection request 

have been removed from this renewal 

request. The disclosure burden related 

to § 373.8 Fannie Mae and Freddie Mac 

was removed as FDIC has determined 

that it is not possible for FDICsupervised IDIs or subsidiaries of FDICsupervised IDIs to be respondents to this 

burden item. The disclosure burden 

related to § 373.9 Open Market 

Collateralized Loan Obligations 

(‘‘CLOs’’) was removed because the D.C. 

Circuit Court invalidated section 941 of 

Dodd-Frank as it applies to CLOs.22

The estimated annual burden, in 

hours, is the product of the estimated 

number of respondents, number of 

responses per respondent, and time per 

response, as summarized in the table 

below. The total estimated annual 

burden for this information collection is 

376 hours, a 3,075-hour reduction from 

the 2018 burden estimate, which reflects 

the aforementioned change in 

methodology. 

SUMMARY OF ESTIMATED ANNUAL BURDEN

IC description 

Type of burden 

(obligation to respond) 

Frequency 

of response 

Estimated 

number of 

respondents 

Number of 

responses/ 

respondent 

Hours per 

response 

Total annual 

estimated 

burden 

Disclosure Burdens 

§ 373.4(a)(2) Standard Risk Retention—Horizontal Interest.Disclosure (Mandatory).On Occasion .... 2 2 5.5 22 


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SUMMARY OF ESTIMATED ANNUAL BURDEN—Continued 

IC description 

Type of burden 

(obligation to respond) 

Frequency 

of response 

Estimated 

number of 

respondents 

Number of 

responses/ 

respondent 

Hours per 

response 

Total annual 

estimated 

burden 

§ 373.4(a)(1) Standard Risk Retention—Vertical Interest.Disclosure (Mandatory).On Occasion .... 2 2 2.0 8 

§ 373.4(a)(3) Standard Risk Retention—Combined Interest *.Disclosure (Mandatory).On Occasion .... 1 1 7.5 8 

§ 373.5 Revolving Master Trusts ...... Disclosure (Mandatory).On Occasion .... 3 2 7.0 42 

§ 373.6 Eligible ABCP Conduits * ..... Disclosure (Mandatory).On Occasion .... 1 1 3.0 3 

§ 373.7 Commercial MBS * ............... Disclosure (Mandatory).On Occasion .... 1 1 20.75 21 

§ 373.10 Qualified Tender Option 

Bonds *.

Disclosure (Mandatory).On Occasion .... 1 1 6.0 6 

§ 373.11 Allocation of Risk Retention to an Originator *.Disclosure (Mandatory).On Occasion .... 1 1 2.5 3 

§ 373.13 Exemption for Qualified 

Residential Mortgages *.

Disclosure (Mandatory).On Occasion .... 1 1 1.25 1 

§ 373.15 Exemption for Qualifying 

Commercial Loans, Commercial 

Real Estate and Automobile 

Loans *.

Disclosure (Mandatory).On Occasion .... 1 1 20.0 20 

§ 373.16 Underwriting Standards for 

Qualifying Commercial Loans *.

Disclosure (Mandatory).On Occasion .... 1 1 1.25 1 

§ 373.17 Underwriting Standards for 

Qualifying Commercial Real Estate Loans *.

Disclosure (Mandatory).On Occasion .... 1 1 1.25 1 

§ 373.18 Underwriting Standards for 

Qualifying Automobile Loans *.

Disclosure (Mandatory).On Occasion .... 1 1 1.25 1 

Disclosure Subtotal ................... ............................. .......................... ........................ ........................ ........................ 137 

Recordkeeping Burdens 

§ 373.4(a)(2) Standard Risk Retention—Horizontal Interest.Recordkeeping 

(Mandatory).

On Occasion .... 2 2 0.5 2 

§ 373.4(a)(1) Standard Risk Retention—Vertical Interest.Recordkeeping 

(Mandatory).

On Occasion .... 2 2 0.5 2 

§ 373.4(a)(3) Standard Risk Retention—Combined Interest *.Recordkeeping 

(Mandatory).

On Occasion .... 1 1 0.5 1 

§ 373.5 Revolving Master Trusts ...... Recordkeeping 

(Mandatory).

On Occasion .... 3 2 0.5 3 

§ 373.6 Eligible ABCP Conduits * ..... Recordkeeping 

(Mandatory).

On Occasion .... 1 1 20.0 20 

§ 373.7 Commercial MBS * ............... Recordkeeping 

(Mandatory).

On Occasion .... 1 1 30.0 30 

§ 373.11 Allocation of Risk Retention to an Originator *.Recordkeeping 

(Mandatory).

On Occasion .... 1 1 20.0 20 

§ 373.13 Exemption for Qualified 

Residential Mortgages *.

Recordkeeping 

(Mandatory).

On Occasion .... 1 1 40.0 40 

§ 373.15 Exemption for Qualifying 

Commercial Loans, Commercial 

Real Estate and Automobile 

Loans *.

Recordkeeping 

(Mandatory).

On Occasion .... 1 1 0.5 1 

§ 373.16 Underwriting Standards for 

Qualifying Commercial Loans *.

Recordkeeping 

(Mandatory).

On Occasion .... 1 1 40.0 40 

§ 373.17 Underwriting Standards for 

Qualifying Commercial Real Estate Loans *.

Recordkeeping 

(Mandatory).

On Occasion .... 1 1 40.0 40 

§ 373.18 Underwriting Standards for 

Qualifying Automobile Loans *.

Recordkeeping 

(Mandatory).

On Occasion .... 1 1 40.0 40 

Recordkeeping Subtotal ............ ............................. .......................... ........................ ........................ ........................ 239 

Total Annual Burden Hours ............................. .......................... ........................ ........................ ........................ 376 

Source: FDIC. 

* There are currently zero estimated respondents for these items however, FDIC is using 1 as a placeholder to preserve the burden estimate in 

case an institution becomes subject to these provisions. 


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23States include the 50 U.S. states, the District of 

Columbia, and the territories of Guam, Mariana 

Islands, Puerto Rico, and the U.S. Virgin Islands. 

See 12 CFR 323.9. 

24See OMB No. 3139–0009 and the 

accompanying Supporting Statement submitted by 

the ASC in 2021, available at https://

www.reginfo.gov/public/do/PRAViewICR?ref_

nbr=202102-3139-001 (accessed June 2, 2021). 

25The agencies agreed to this burden-sharing 

methodology in 2018. 

26Bureau of Labor Statistics (BLS), ‘‘Job Openings 

and Labor Turnover Survey: Finance and 

Insurance’’ (Series ID: JTU520000000000000TSR), 

available at https://www.bls.gov/data/ (accessed 

June 4, 2021). 

27BLS, ‘‘Employed—Appraisers and assessors of 

real estate’’ (Series ID: LNU02038218), available at 

https://beta.bls.gov/dataViewer/view/timeseries/ 

LNU02038218 (accessed June 2, 2021). 

2. Title: Minimum Requirements for 

Appraisal Management Companies 

OMB Number: 3064–0195. 

Form Number: None. 

Affected Public: Individuals or 

households; business or other for profit. 

General Description of Collection: 

This information collection comprises 

recordkeeping and disclosure 

requirements under regulations issued 

by the Federal Deposit Insurance 

Corporation (FDIC), jointly with the 

Office of the Comptroller of the 

Currency (OCC), the Board of Governors 

of the Federal Reserve System (FRB), the 

National Credit Union Administration 

(NCUA), the Bureau of Consumer 

Financial Protection (CFPB), and the 

Federal Home Finance Agency (FHFA) 

(collectively, ‘‘the agencies’’) that 

implement the minimum requirements 

in Section 1473 of the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act (Dodd-Frank Act or the Act) to be 

applied by states 23 in the registration 

and supervision of appraisal 

management companies (AMCs). The 

regulations also implement the 

requirement in Section 1473 of the 

Dodd-Frank Act for states to report to 

the Appraisal Subcommittee (ASC) of 

the Federal Financial Institutions 

Examination Council (FFIEC) the 

information required by the ASC to 

administer the new national registry of 

appraisal management companies (AMC 

National Registry or Registry). The 

information collection (IC) requirements 

are established in Part 323 of the FDIC’s 

codified regulations. 

This information collection was last 

approved for renewal on October 16, 

2018 (‘‘2018 ICR’’) with a total annual 

burden estimate of 421 hours. The 2018 

ICR contains two recordkeeping and two 

reporting IC requirements. The FDIC 

notes that the ASC has issued its own 

regulations or guidance implementing 

the requirements from the Act related to 

the information to be presented to the 

ASC by the participating states, and 

submitted an IC related to this reporting 

requirement.24 Accordingly, the FDIC is 

not taking PRA burden for the 

associated IC (previously included as 

‘‘State Reporting Requirements to 

Appraisal Subcommittee’’) and has 

removed it from its current ICR 

submission. 

For each of the remaining ICs, FDIC’s 

estimation methodology is to compute 

the total estimated burden hours for that 

IC and then assign an agreed-upon share 

of the burden hours to each of the 

regulatory agencies (FDIC, FRB, OCC, 

and FHFA).25 The FDIC’s estimated 

annual burden is calculated by finding 

the product of the estimated annual 

number of respondents, the estimated 

annual number of responses per 

respondent, the estimated burden hours 

per response and the share of the 

burden attributable to the FDIC. 

Burden Estimate: 

Estimated Number of Respondents 

IC #1: Written Notice of Appraiser 

Removal From Network or Panel 

This IC relates to the written notice of 

appraiser removal from the network or 

panel pursuant to § 323.10. The number 

of respondents is estimated to be equal 

to the number of appraisers who leave 

the profession each year multiplied by 

the estimated percentage of appraisers 

who work for AMCs. The number of 

appraisers who leave is calculated by 

adding the number of appraisers who 

are laid off or resign to the number of 

appraisers that have had their licenses 

revoked or surrendered. This estimation 

methodology is similar to the 

methodology used in the 2018 ICR. 

The number of appraisers who are 

laid off or resign each year is estimated 

by multiplying the annual rate of ‘‘Total 

separations’’ by the number of 

appraisers for each year. Using data 

from the Bureau of Labor Statistics 

(BLS) for the finance and insurance 

industry, shown in Table 1 below, the 

annual rate of ‘‘Total separations’’ in 

2020 is 25.1 percent.26 The rate for 2020 

is within the range of annual rates 

between 2011 and 2020 (20.4 to 26.0 

percent, with a median of 24.8 percent) 

and is a reasonable estimate for future 

periods. 

TABLE 1—ANNUAL RATE OF TOTAL

SEPARATIONS FOR THE FINANCE AND

INSURANCE INDUSTRY IN THE UNITED

STATES

Year Value 

(in %) 

2011 .......................................... 20.4 

2012 .......................................... 23.6 

2013 .......................................... 26.0 

2014 .......................................... 25.0 

2015 .......................................... 24.5 

2016 .......................................... 23.9 

TABLE 1—ANNUAL RATE OF TOTAL

SEPARATIONS FOR THE FINANCE AND

INSURANCE INDUSTRY IN THE UNITED

STATES—Continued 

Year Value 

(in %) 

2017 .......................................... 25.2 

2018 .......................................... 24.2 

2019 .......................................... 24.6 

2020 .......................................... 25.1 

Source: BLS, ‘‘Job Openings and Labor 

Turnover Survey: Finance and Insurance’’ (Series ID: JTU520000000000000TSR), available 

at https://www.bls.gov/data/ (accessed June 4, 

2021). 

The number of appraisers is estimated 

by using the number of appraisers in 

2020 as a proxy for the level of appraiser 

employment over the next three years.27

In 2020, the total number of appraisers 

was 86,000 and is similar to the annual 

average of 87,000 appraisers between 

2011 and 2020. Table 2 contains data on 

annual employment level for appraisers 

in the U.S. between 2011 and 2020: 

TABLE 2—ANNUAL LEVEL OF EMPLOYMENT FOR APPRAISERS IN THE

UNITED STATES

Year Value 

(in thousands) 

2011 ................................ 88 

2012 ................................ 93 

2013 ................................ 98 

2014 ................................ 95 

2015 ................................ 76 

2016 ................................ 73 

2017 ................................ 97 

2018 ................................ 84 

2019 ................................ 84 

2020 ................................ 86 

Source: BLS, ‘‘Employed—Appraisers and 

assessors of real estate’’ (Series ID: 

LNU02038218), available at https://

beta.bls.gov/dataViewer/view/timeseries/ 

LNU02038218 (accessed June 2, 2021). 

Given the data summarized above, the 

number of appraisers who are laid off or 

resign is estimated by multiplying the 

annual number of appraisers by the 

annual separation rate 86,000 × 25.1 

percent = 21,586. 

As stated above, respondents to this 

IC also include appraisers who have 

their license revoked or surrendered 

each year. According to the ASC, 

between January 1, 2010 and December 

31, 2019, the counts of appraisers who 

have had their license revoked or 

surrendered are 804 and 576, 


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28Federal Financial Institution Examination 

Council: Appraisal Subcommittee, ‘‘Annual Report 

2019: Appendix E Appraiser Disciplinary Actions 

Reported by State,’’ available at https://

www.asc.gov/About-the-ASC/AnnualReports.aspx 

(accessed June 2, 2021). 

29The average over the ten years is calculated as 

(1,380, or 804 + 576) divided by 10. 

30Appraisal Institute, ‘‘U.S. VALUATION 

PROFESSION FACT SHEET Q1 2019,’’ available at 

https://www.appraisalinstitute.org/ 

file.aspx?DocumentId=2342, (accessed June 2, 

2021). 

31The estimated total number of appraiser 

removal notices for AMCs is calculated as (21,586 

+ 138) × 19 percent, which yields 4,127.56 notices, 

or 4,130 after rounding to the nearest ten. The 

estimate is rounded to the nearest ten because 10 

percent of the respondents will be allocated to 

FHFA, and OMB systems require whole number 

inputs. 

32 December 31, 2020, Call Report data. The Small 

Business Administration (SBA) defines a small 

banking organization as having $600 million or less 

in assets, where an organization’s ‘‘assets are 

determined by averaging the assets reported on its 

four quarterly financial statements for the preceding 

year.’’ See 13 CFR 121.201 (as amended by 84 FR 

34261, effective August 19, 2019). In its 

determination, the ‘‘SBA counts the receipts, 

employees, or other measure of size of the concern 

whose size is at issue and all of its domestic and 

foreign affiliates.’’ See 13 CFR 121.103. Following 

these regulations, the FDIC uses a covered entity’s 

affiliated and acquired assets, averaged over the 

preceding four quarters, to determine whether the 

covered entity is ‘‘small’’ for the purposes of RFA. 

33The estimated number of small respondents to 

this IC is calculated by multiplying the estimated 

number of respondents (4,130) by 70 percent. 

34See OMB No. 3064–0195 and the 

accompanying Supporting Statement submitted by 

the FDIC in 2018, available at https://

www.reginfo.gov/public/do/PRAViewICR?ref_

nbr=201804-3064-013 (accessed June 2, 2021). 

35The most recent data available from the 

Appraisal Institute includes five new categories 

(employee or staff member in a government or 

regulatory agency, valuation consultant, professor 

or other academic professional, semi-retired or 

retired, and student), in addition to the four 

categories that match closely to the data in the 2018 

ICR (employee or staff member of a firm, sole 

proprietor of own business (no employees/ 

partners), executive in a firm, and other). 

36ASC, ‘‘States’ Status on Implementation of 

AMC Programs,’’ available at https://www.asc.gov/ 

National-Registries/StatesStatus.aspx (accessed 

June 2, 2021). 

37Based on conversations between the SMEs at 

the FDIC, FRB, OCC, and FHFA, the current ICR 

splits the IC #3 from the 2018 ICR (titled ‘‘AMC 

Reporting Requirements (State and Federal AMCs) 

(323.12 & 13(c))’’) in to two separate ICs, one each 

for state-regulated AMCs, and federally regulated 

AMCs. 

38Section 323.9 defines a federally regulated 

AMC as ‘‘an AMC that is owned and controlled by 

an insured depository institution, as defined in 12 

U.S.C. 1813 and regulated by [the OCC, FRB, or 

FDIC].’’ 

39ASC nonpublic data, obtained as of June 3, 

2021, stored under this memo’s workpapers on 

FDIC SharePoint. 

40The most recent Annual Report of the ASC 

notes that as of December 31, 2019, the National 

Registry contained 1,374 AMCs registered from 14 

states. As of June 2, 2021, the date I accessed the 

ASC’s website, there are 40 states currently 

populating the National Registry. See Federal 

Financial Institution Examination Council: 

respectively.28 Therefore, the annual 

average over the ten-year span is 138 

licenses revoked or surrendered per 

year.29

The number of appraisal removal 

notices for AMCs is then calculated by 

adding the estimate of appraisers who 

are laid off or resign to the number of 

appraisers who have their licenses 

revoked or surrendered, and 

multiplying by the estimated percent of 

total appraisers who work for AMCs. 

According the Appraisal Institute, 

approximately 81 percent of appraisers 

are sole proprietors, executives in a 

firm, or are listed as having other forms 

of employment status.30 The remaining 

19 percent of appraisers are employees 

or staff members in firms such as AMCs, 

appraisal services companies, or other 

companies. Using 19 percent as the 

estimate of the percentage of appraisers 

who work for AMCs, the estimated total 

number of appraiser removal notices for 

AMCs is 4,130 notices per year, rounded 

to the nearest ten.31 Thus, the estimated 

number of annual respondents for this 

information collection is 4,130. The 

respondents to this IC are either natural 

persons or AMCs. There are no data 

available currently on the number of 

AMCs that are considered ‘‘small,’’ for 

the purposes of the Regulatory 

Flexibility Act (RFA), and none of the 

respondents who are natural persons are 

small for the purposes of the RFA. As 

a rough approximation, to estimate the 

number of small respondents to this IC 

FDIC uses the percentage of insured 

depository institutions that are small (70 

percent) for purposes of the RFA,32 and 

assume that all respondents are AMCs. 

Thus, FDIC estimates that 2,891 

respondents to this IC are small for 

purposes of the RFA.33 This is likely a 

conservative estimate of small 

respondents for this information 

collection because not all respondents 

to this IC are AMCs. 

The estimated number of notices per 

year is lower than the 2018 ICR estimate 

by 5,751 notices.34 Two factors 

contributed to the drop in estimated 

notices: First, the number of appraisers 

who are laid off or resign, and the 

number that have had their licenses 

revoked or surrendered (138 and 21,586, 

respectively) are lower than the 

estimates in the 2018 ICR (245 and 

23,280); second, there is more granular 

data available to calculate the share of 

appraisers employed by AMCs, 

appraisal services companies, or other 

companies. The most recent data from 

the Appraisal Institute contains nine 

separate categories for Appraiser 

Employment Status, whereas the data 

available for the 2018 ICR contained 

only four categories.35 Given the level of 

aggregation available in 2018, the 

estimate of the share of appraisers in the 

2018 ICR likely included appraisers 

who are employees or staff members in 

a government or regulatory agency, and 

individuals with employment statuses 

such as valuation consultant, professor 

or other academic professional, semiretired or retired, or student. The FDIC 

notes that appraisers or individuals with 

the five employment statuses listed 

above would not be subject to this IC. 

Consequently, the share (19 percent) is 

much lower than the share (42 percent) 

used in the 2018 ICR. 

IC #2: Develop and Maintain a State 

Licensing Program 

The second information collection 

pertains to developing and maintaining 

a state licensing program for AMCs 

pursuant to Section 323.14. Section 

323.14 requires that each state electing 

to register AMCs for purposes of 

permitting AMCs to provide appraisal 

management services relating to covered 

transactions in the state must submit to 

the ASC certain information required 

under the Rule and any additional 

information required by the ASC 

concerning AMCs. Thus, this burden 

falls on the states, especially those that 

have not developed a system to register 

and oversee AMCs. According to the 

ASC there are four states (the territories 

of Guam, Mariana Islands, Puerto Rico, 

and the U.S. Virgin Islands) that have 

not developed a system to register and 

oversee AMCs.36 Thus, the estimated 

number of annual respondents for this 

burden is four. Since respondents to this 

IC are states, none of the respondents 

are considered ‘‘small’’ for purposes of 

the RFA. 

IC #3: AMC Disclosure Requirements 

(State-Regulated AMCs) 37

The third information collection 

relates to disclosure requirements for 

AMCs that are not federally regulated 

AMCs 38 (‘‘state-regulated AMCs’’) 

pursuant to Section 323.12, which 

involves information sent by AMCs to 

third parties, including states and the 

AMC National Registry. The disclosure 

requirement for this IC includes 

registration limitations/requirements. 

According to the National Registry, 

accessed on June 2, 2021, there are 

3,854 active AMCs, of which 3,817 are 

state-regulated AMCs.39 FDIC does not 

have the data to estimate the change in 

the number of active state-regulated 

AMCs using historical information 

because the National Registry became 

available for the states to populate in 

July 2018, and the states’ reporting 

characteristics vary over time.40 For the 


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Appraisal Subcommittee, ‘‘Annual Report 2019: 

Appendix E Appraiser Disciplinary Actions 

Reported by State,’’ available at https://

www.asc.gov/About-the-ASC/AnnualReports.aspx 

(accessed June 2, 2021); and ASC, ‘‘States’ Status on 

Implementation of AMC Programs,’’ available at 

https://www.asc.gov/National-Registries/ 

StatesStatus.aspx (accessed June 2, 2021). 

41The estimate is rounded to the nearest ten 

because 10 percent of the respondents will be 

allocated to FHFA, and OMB systems require whole 

number inputs. 

42The estimated number of small respondents to 

this IC is calculated by multiplying the estimated 

number of respondents (3,820) by 70 percent. 

43ASC nonpublic data, obtained as of June 3, 

2021. 

44See footnote 40. 

45The estimate is rounded to the nearest multiple 

of three because the estimated respondents will be 

allocated equally to the FDIC, FRB, and OCC, and 

OMB systems require whole number inputs. The 

aggregate estimated number of respondents for IC 

#3 and IC #4 in the current ICR (state-regulated and 

federally regulated AMCs) is higher than the 

corresponding estimate in the 2018 ICR by 3,659. 

The increase in the number of respondents in the 

current ICR is attributable to the definitive 

information available from the National Registry 

after 2018, when AMC registration requirements 

became effective. 

46The estimated number of small respondents to 

this IC is calculated by multiplying the estimated 

number of respondents (39) by 70 percent. 

47 In the event of an appraiser’s death or 

incapacitation, the AMC receives notice of death or 

incapacity. See 12 CFR 323.10. 

48See OMB No. 3064–0195 and the 

accompanying Supporting Statement submitted by 

the FDIC in 2018, available at https://

www.reginfo.gov/public/do/PRAViewICR?ref_

nbr=201804-3064-013 (accessed June 2, 2021). 

Additional details on the survey can be found in the 

text accompanying the final rule. See Minimum 

Requirements for Appraisal Management 

Companies, 80 FR 32,677 (June 9, 2015). 

49The assumption to divide the burden hours 

between the agencies is based on conversations 

between the subject matter experts at the FDIC, 

FRB, OCC, and FHFA and is based on the 

approximate proportion of AMCs supervised by the 

three banking agencies and evenly split among the 

three banking agencies. The burden hours are 

shared using the same ratio as the 2018 ICR. The 

ratio does not affect the total amount of burden 

imposed by the collections of information under the 

joint AMC regulations, and relates only to the 

appropriate distribution among the rulemaking 

Continued 

purposes of this analysis FDIC assumes 

the number of state-regulated AMCs to 

remain approximately the same over the 

next three years. Thus, the estimated 

number of annual respondents for this 

burden is 3,820, after rounding up to the 

nearest ten.41 There are no data 

available currently on the number of 

AMCs that are small. As a rough 

approximation, FDIC uses the 

percentage of insured depository 

institutions that are small (70 percent) 

for purposes of the RFA to estimate the 

number of small respondents to this IC. 

Using this methodology FDIC estimates 

that 2,674 respondents to this IC are 

small for purposes of the RFA.42

IC #4: AMC Disclosure Requirements 

(Federally Regulated AMCs) 

The fourth information collection 

relates to AMC disclosure requirements 

for federally regulated AMCs pursuant 

to Section 323.13(c). The disclosure 

requirements for this IC include 

registration limitations/requirements as 

well as information regarding the 

determination of the AMC National 

Registry fee. Of the 3,854 active AMCs, 

37 are federally regulated AMCs.43 FDIC 

does not have the data to estimate the 

change in the number of active federally 

regulated AMCs using historical 

information because the National 

Registry became available for the states 

to populate in July 2018, and the states’ 

reporting characteristics vary over 

time.44 For the purposes of this analysis 

FDIC assumes the number of federally 

regulated AMCs to remain 

approximately the same over the next 

three years. Thus, the estimated number 

of annual respondents for this burden is 

39, after rounding up to the nearest 

multiple of three.45 There are no data 

available currently on the number of 

AMCs that are small. As a rough 

approximation, FDIC uses the 

percentage of insured depository 

institutions that are small (70 percent) 

for purposes of the RFA to estimate the 

number of small respondents to this IC. 

Accordingly, FDIC estimates that 27 

respondents to this IC are small for 

purposes of the RFA.46

Estimated Number of Responses 

For IC #1, FDIC assumes an AMC 

receives one written notice from each 

appraiser 47 asking to be removed from 

the appraiser panel, or sends one notice 

to each appraiser removing him/her 

from the panel. Thus, the estimated 

number of responses per respondent is 

one. 

For IC #2, FDIC assumes that states 

without a registration and licensing 

program would develop and maintain a 

single program for each state. Thus, the 

estimated number of responses per 

respondent is one. 

For IC #3 and IC #4, FDIC estimates 

the number of responses per respondent 

as the number of states that do not have 

an AMC registration program in which 

the average state-regulated or federally 

regulated AMC operates. As discussed 

previously, there are four states that 

currently do not have an AMC 

registration program. As noted in the 

Supporting Statement accompanying 

the 2018 ICR, a 2013 survey conducted 

by the CFPB found that the average 

AMC operates in 19.56 states.48 Thus, 

the average state-regulated or federally 

regulated AMC operates in 

approximately 2 states that do not have 

AMC registration systems: (4 states/55 

states) × 19.56 states = 1.422 states ∼ 

rounded up to 2 states. 

Frequency of Responses 

For IC #1, as discussed above, the 

AMC receives (or sends) a written notice 

in the event an appraiser no longer 

serves on the panel. Since this event 

occurs on occasion, FDIC uses ‘‘On 

Occasion’’ as the Frequency of Reponses 

for this IC and assumes a frequency of 

one. 

For IC #2, FDIC assumes the states 

that have currently elected not to 

register and oversee AMCs could choose 

to do so at any time. Since this event 

occurs on occasion, FDIC uses ‘‘On 

Occasion’’ as the Frequency of Reponses 

for this IC and assumes a frequency of 

one. 

For IC #3 and IC #4, FDIC assumes the 

state-regulated or federally regulated 

AMCs that are currently operating in a 

state but have not yet registered with 

that state could choose to do so any 

time. Since this event occurs on 

occasion, FDIC uses ‘‘On Occasion’’ as 

the Frequency of Reponses for this IC 

and assumes a frequency of one. 

Estimated Time per Response 

The 2018 ICR estimate of the hour 

burden per written notice of appraiser 

removal was 0.08 hours. The FDIC 

believes this estimate remains 

reasonable and appropriate for this IC 

and uses 0.08 hours as the estimated 

time per response for IC #1. 

The 2018 ICR estimate of the hour 

burden for a state without a registration 

program or system to establish one was 

40 hours. The FDIC believes this 

estimate remains reasonable and 

appropriate for this IC and uses 40 

hours as the estimated time per 

response for IC #2. 

The 2018 ICR estimate of the hour 

burden for a state-regulated or federally 

regulated AMC to register in a state in 

which it operates was one hour. The 

FDIC believes this estimate remains 

reasonable and appropriate for IC #3 

and IC #4 and uses one hour each as the 

estimated time per response for IC #3 

and IC #4. 

The estimated annual burden, in 

hours, for the four agencies (FDIC, FRB, 

OCC, and FHFA) is the product of the 

estimated number of respondents per 

year allocated to each agency, the 

number of responses per respondent per 

year, and the hours per response, as 

summarized in Tables 3 and 4 below. 

For IC #1, and IC #3, the estimated 

respondents are split between the four 

agencies the FDIC, FRB, OCC, and 

FHFA, at a ratio of 3:3:3:1.49 Thus, the 


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agencies of responsibility (under the PRA) for a 

portion of the total estimated burden. See OMB No. 

2590–0013 and the accompanying Supporting 

Statement submitted by the FHFA in 2018, 

available at https://www.reginfo.gov/public/do/ 

PRAViewICR?ref_nbr=201807-2590-002 (accessed 

June 16, 2021). 

50For IC #2, the assumption to divide the burden 

hours equally between the agencies is based on 

conversations between the SMEs at the FDIC, FRB, 

OCC, and FHFA. The burden hours are shared using 

the same ratio as the 2018 ICR. 

51The estimated total annual burden hours of 

8,208 is obtained by aggregating the estimated total 

annual burden hours for the FDIC, FRB, and OCC 

in Table 3 (7,371, or 2,457 × 3) with the 

corresponding value for the FHFA in Table 4 (837). 

The estimated hour burden in the current ICR 

(8,208) higher than the 2018 ICR estimate by 6,763 

hours. The increase is predominantly driven by the 

increase in the aggregate estimated number of 

respondents to IC #3 and IC #4. As discussed 

previously, the estimated number of respondents in 

higher than the estimate in the 2018 ICR due to the 

definitive information available from the National 

Registry after 2018. 

52The 2018 ICR erroneously classified IC #1 as a 

Recordkeeping requirement. The burden for this IC 

has been changed to a Disclosure requirement. 

53The 2018 ICR erroneously classified IC #3 as a 

Reporting requirement. The burden for this IC has 

been changed to a Disclosure requirement. 

estimated number of annual 

respondents attributable to the FDIC, 

FRB, and OCC for IC #1, and IC #3 are 

1,239, and 1,146 each, respectively. 

Similarly, the estimated number of 

annual respondents attributable to the 

FHFA for IC #1, and IC #3 are 413, and 

382, respectively. For IC #2, the 

estimated number of respondents is 

split equally amongst the four agencies 

which amounts to one respondent 

each.50 For IC #4, the estimated number 

of respondents (39) is split equally 

amongst the three banking agencies (13 

each) as Section 323.9 defines a 

federally regulated AMC as an AMC 

owned and controlled by an insured 

depository institution, which is 

regulated by the FDIC, FRB, or OCC. 

The total estimated annual burden for 

this information collection is 8,208 

hours.51 The FDIC, FRB, and OCC will 

each have equally-sized shares of the 

total estimated burden, with each 

agency responsible for 2,457 hours. The 

FHFA is responsible for the remaining 

837 hours. 

TABLE 3—SUMMARY OF ESTIMATED ANNUAL BURDENS—FDIC, FRB, AND OCC SHARE

[OMB No. 3064–0195] 

IC description Type of burden 

(obligation to respond) 

Frequency 

of response 

Number of 

respondents 

Number of 

responses per 

respondent 

Hours per 

response 

Annual 

burden 

(hours) 

IC #1—Written Notice of Appraiser 

Removal From Network or 

Panel (12 CFR part 323.10).

Disclosure 52 (Mandatory) .... On occasion ... 1,239 1 0.08 99 

IC #2—State Recordkeeping Requirements (12 CFR parts 

323.11(a) and 323.11(b)).

Recordkeeping (Mandatory) On occasion ... 1 1 40 40 

IC #3—AMC Disclosure Requirements (State-regulated AMCs) 

(12 CFR part 323.12).

Disclosure 53 (Mandatory) .... On occasion ... 1,146 2 1 2,292 

IC #4—AMC Disclosure Requirements (Federally regulated 

AMCs) (12 CFR parts 323.12 

and 323.13(c)).

Disclosure (Mandatory) ....... On occasion ... 13 2 1 26 

Total Annual Burden Hours 

(FDIC, FRB, and OCC 

Share).

.............................................. ........................ .................... ........................ .................... 2,457 

Source: FDIC. 

3. Title: Joint Standards for Assessing 

Diversity Policies and Practices. 

OMB Number: 3064–00200. 

Form Number: 2710/05—Diversity 

Self-Assessment (paper form). 

2710/06—Diversity Self-Assessment 

(electronic form). 

Affected Public: Insured state 

nonmember banks, and insured state 

savings associations. 

Burden Estimate: FDIC is revising the 

burden estimates associated with this 

information collection as a result of the 

update of the electronic version of the 

reporting form. The update will allow 

respondents who have previously 

completed a diversity self-assessment 

(DSA) to copy and clone their previous 

submission. This copy/clone capability 

reduces the reporting burden for 

returning respondents. However, it does 

not change the burden for respondents 

who fill out the electronic form for the 

first time or respondents who choose an 

alternative method of assessing their 

diversity policies and practices. As 

such, this ICR revises the IC line items 

to distinguish between the 

implementation burden incurred by first 

time respondents from the ongoing 

burden incurred by returning 

respondents. This ICR also updates the 

respondent count estimates for the other 

line items in this IC. Finally, this ICR 

adds a line to cover the burdens of nonmaterial (not responsive) submissions. 

In October 2020, the FDIC 

implemented a copy/clone feature in 

FID–SA for submissions covering the 

2020 reporting period and beyond. This 

feature allows the respondent to prepopulate a new diversity selfassessment with the information that 

was previously completed and 

submitted. In addition, the FDIC Office 

of Minority and Women Inclusion 

(OMWI) have identified several 

submissions that complete the pro 

forma form but do not provide the FDIC 

with any material self-assessments. 

With the addition of these two 

submission types, there are now five 

distinct submission types for this IC: 

1. Paper Form Submissions, which are 

DSA submissions that use the ‘‘Diversity 

Self-Assessment of Financial 

Institutions Regulated by the FDIC’’ 

form and submit the form as an email 

attachment or via the United States 

Postal Service; 

2. Electronic Form (Implementation) 

Submissions, which are DSA 

submissions that utilize the online FID– 

SA application, and the financial 

institution has not previously submitted 

a DSA; 

3. Electronic Form (Ongoing) 

Submissions, which are DSA 

submissions that utilize the online FID– 


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Federal Register / Vol. 86, No. 151 / Tuesday, August 10, 2021 / Notices 43661 

54Steady state averages of 25 percent for 

Electronic Form (Implementation) and 75 percent 

for Electronic Form (Ongoing) submissions were 

estimated from historical submissions by FDICregulated IDIs covering diversity activities in 2019, 

the first reporting period for which the online 

submission was available, and multiplied by 175, 

the anticipated number of annual Electronic Form 

submissions, to arrive at estimates of 45 Electronic 

Form (Implementation) and 130 Electronic Form 

(Ongoing) submissions. For the purposes of 

annualizing the estimated number of respondents, 

it is assumed that the estimated annual count of 

respondents for Electronic Form (Ongoing) 

Submissions includes returning Electronic Form 

(Implementation) Submissions from the previous 

year. 

55The FDIC found 0, 0, and 4 Free-Form 

submissions and 3, 3, and 12 Non-material 

submissions in 2017, 2018, and 2019, respectively. 

Based on these historical numbers and their 

supervisory experience, the FDIC anticipates 

approximately 5 Free-Form and 10 Non-material 

Submissions going forward. 

56The average burden hour estimate across all 

submission types is 4 hours and 8 minutes per 

response. 

SA application and are able to use the 

copy/clone feature in FID–SA; 

4. Free-Form Submissions, which are 

submissions that do not use the 

‘‘Diversity Self-Assessment of Financial 

Institutions Regulated by the FDIC’’ 

form; and 

5. Non-Material Submissions, which 

are pro forma submissions that do not 

provide any material self-assessments. 

Estimated Number of Respondents and 

Responses 

Responses to this information 

collection are voluntary and may be 

submitted by any FDIC-regulated 

financial institution. As such, potential 

respondents to this IC are all FDICregulated financial institutions. As of 

December 31, 2020, the FDIC regulates 

3,227 insured depository institutions 

(IDIs). Of these institutions, 2,380 are 

considered small for the purposes of the 

Regulatory Flexibility Act (RFA). 

Respondents submit a single response 

per year. To estimate the number of 

respondents for this ICR, FDIC reviewed 

and summarized data from historical 

submissions by FDIC-regulated IDIs 

covering diversity activities in the 

reporting periods 2016–2019. 

Submissions were categorized as a firsttime submission if no prior submission 

was made by the same IDI. Otherwise, 

the submission was categorized as a 

repeat submission. FDIC did not 

categorize 2016 submissions since 2016 

was the first year for which the agency 

has submission data. A summary of 

these results is provided in Table 1 

below: 

TABLE 1—OMWI SUBMISSION COUNTS, BY SUBMISSION TYPE AND REPORTING PERIOD

Submission type 2016 2017 2018 2019 

All submissions * .............................................................................................................................................. 95 137 133 152 

All submissions, small IDIs ** .......................................................................................................................... 17 26 26 33 

First-time submissions ..................................................................................................................................... ............ 81 42 38 

First-time submissions, small IDIs ** ............................................................................................................... ............ 18 13 16 

Repeat submissions ........................................................................................................................................ ............ 56 91 113 

Repeat submissions, small IDIs ** ................................................................................................................... ............ 8 13 17 

Source: FDIC OMWI. 

* These counts include two financial institutions (CERTs 20399 in 2016 and 29845 in 2019) that were later found to not be regulated by the 

FDIC during their respective reporting periods. We include them here to align the table with other OMWI published analyses (available at https://

www.fdic.gov/about/diversity/analysisdsa.html). 

** IDIs are counted as small if they meet the SBA’s definition of ‘‘small’’ for purposes of RFA as of December 31st in each reporting period. 

As Table 1 shows, there were 152 

total submissions in 2019, the most 

recent reporting year. This is an increase 

of approximately 20 submissions from 

the previous year. This increase is due 

to the introduction of the online FID–SA 

application and an expanded outreach 

effort by the FDIC to educate and 

increase awareness about the DSA. The 

FDIC expects that submission counts 

will continue to climb upwards due to 

continued expanded outreach efforts as 

well as the introduction of the copy/ 

clone feature to facilitate responses. 

Based on the historical submission 

counts and the expected rise in 

submissions, the FDIC expects it will 

receive 195 submissions per year with 

the majority of these submissions using 

the online FID–SA application. Based 

on the historical trends of first-time and 

repeating submissions future 

expectations, the FDIC anticipates 

annual respondent counts of 45 

Electronic Form (Implementation) and 

130 Electronic Form (Ongoing) 

submissions.54 In addition, the FDIC 

anticipates annual counts of five FreeForm Submissions and ten Non-material 

Submissions.55 Finally, FDIC recognizes 

that some IDIs may prefer to continue 

providing Paper Submissions and 

anticipate five such submissions per 

year. 

Estimated Hourly Burden 

The FDIC estimates that Electronic 

Form (Implementation) Submissions 

will take seven hours, the same burden 

that was recorded in the Electronic 

Form line item in the 2020 ICR. For 

Electronic Form (Ongoing) Submissions, 

the FDIC estimates that the copy/clone 

feature will save respondents an average 

of four hours per submission, for a net 

burden of three hours per response. For 

Non-material Submissions, the FDIC 

estimates that the pro forma completion 

of the submission application will take 

six minutes, or 0.1 hours. The FDIC has 

reviewed the hourly burden estimates 

for Paper Submissions and for FreeForm Submissions and found that the 

estimates from the 2020 ICR remain 

reasonable and appropriate. Finally, the 

FDIC estimates that each respondent 

will incur one hour of burden per year, 

on average, to disclose a portion of its 

submission to the public, in a manner 

reflective of the entity’s size and other 

characteristics. 

The estimated annual burden for each 

submission type, in hours, is the 

product of the estimated number of 

respondents, number of responses per 

respondent per year, and time per 

response, as summarized in Table 2 

below. The total estimated annual 

burden for this information collection is 

100, 106 hours, a reduction of 559 hours 

from the previously approved ICR. 56


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43662 Federal Register / Vol. 86, No. 151 / Tuesday, August 10, 2021 / Notices 

57 80 FR 33016. 

58The paper version of the ‘‘Diversity SelfAssessment of Financial Institutions Regulated by 

the FDIC’’ form (form number 2710/05) can be 

viewed at the following location: https://

www.fdic.gov/resources/regulations/federalregister-publications/2021/2021-form-2710-05- 

diversity-self-assessment-paper-form.pdf. 

59The electronic version of the ‘‘Diversity SelfAssessment of Financial Institutions Regulated by 

the FDIC’’ form (form number 2710/06) can be 

viewed at the following location: https://

www.fdic.gov/resources/regulations/federalregister-publications/2021/2021-form-2710-06- 

diversity-self-assessment-screen-shots.docx. 

60As described in the FID–SA portal, available at 

https://www.fdic.gov/about/diversity/ 

fidsaportal.html (accessed May 1, 2021). 

TABLE 2—SUMMARY OF ESTIMATED ANNUAL BURDEN

[OMB No. 3064–0006] 

Information collection 

description—submission 

type 

Type of burden 

(obligation to respond) 

Frequency 

of response 

Number of 

respondents 

Number of 

responses per 

respondent 

Hours per 

response 

Annual 

burden 

(hours) 

Joint Standards for Assessing 

Diversity Policies and Practices—Paper Form.

Reporting (Voluntary) ..... Annual ............ 5 1 8 40 

Joint Standards for Assessing 

Diversity Policies and Practices—Electronic Form (Implementation).

Reporting (Voluntary) ..... Annual ............ 45 1 7 315 

Joint Standards for Assessing 

Diversity Policies and Practices—Electronic Form (Ongoing).

Reporting (Voluntary) ..... Annual ............ 130 1 3 390 

Joint Standards for Assessing 

Diversity Policies and Practices—Free-Form.

Reporting (Voluntary) ..... Annual ............ 5 1 12 60 

Joint Standards for Assessing 

Diversity Policies and Practices—Non-material.

Reporting (Voluntary) ..... Annual ............ 10 1 0.1 1 

Joint Standards for Assessing 

Diversity Policies and Practices—Public Disclosure.

Disclosure (Voluntary) ... Annual ............ 195 1 1 195 

Total Annual Burden 

(Hours):.

........................................ ........................ ........................ ........................ ........................ 1,001 

Source: FDIC. 

General Description of Collection 

Section 342 of the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act of 2010 (the Act) required the Office 

of the Comptroller of the Currency 

(OCC), Board of Governors of the 

Federal Reserve System (Board), Federal 

Deposit Insurance Corporation (FDIC), 

Bureau of Consumer Financial 

Protection (CFPB), National Credit 

Union Administration (NCUA), and 

Securities and Exchange Commission 

(SEC) (together, Agencies and 

separately, Agency) each to establish an 

Office of Minority and Women 

Inclusion (OMWI) to be responsible for 

all matters of the Agency relating to 

diversity in management, employment, 

and business activities. The Act also 

instructed each OMWI Director to 

develop standards for assessing the 

diversity policies and practices of 

entities regulated by the Agency. The 

Agencies worked together to develop 

joint standards and, on June 10, 2015, 

they jointly published in the Federal 

Register 57 the ‘‘Final Interagency Policy 

Statement Establishing Joint Standards 

for Assessing the Diversity Policies and 

Practices of Entities Regulated by the 

Agencies’’ (Policy Statement). 

The Policy Statement contains a 

‘‘collection of information’’ within the 

meaning of the Paperwork Reduction 

Act of 1995 (PRA). The Policy Statement 

includes Joint Standards that cover 

‘‘Practices to Promote Transparency of 

Organizational Diversity and Inclusion.’’ 

These Joint Standards contemplate that 

a regulated entity is transparent about 

its diversity and inclusion activities by 

making certain information available to 

the public annually on its website or 

through other appropriate 

communications methods, in a manner 

reflective of the entity’s size and other 

characteristics. The specific information 

referenced in these standards is: (a) 

Leadership commitment to diversity 

and inclusion; (b) workforce diversity 

and employment practices; (c) progress 

toward achieving diversity and 

inclusion in its procurement activities; 

and (d) opportunities available at the 

entity that promote diversity. 

In addition, the Policy Statement 

includes Joint Standards that address 

‘‘Entities’ Self-Assessment.’’ The Joint 

Standards for Entities’ Self-Assessment 

envision that a regulated entity, in a 

manner reflective of its size and other 

characteristics, (a) conducts annually a 

voluntary self-assessment of its diversity 

policies and practices; (b) monitors and 

evaluates its performance under its 

diversity policies and practices on an 

ongoing basis; (c) provides information 

pertaining to its self-assessment to the 

OMWI Director of its primary federal 

financial regulator; and (d) publishes 

information pertaining to its efforts with 

respect to the Joint Standards. 

The collection of information 

described above is reported to the FDIC 

via the form entitled ‘‘Diversity SelfAssessment of Financial Institutions 

Regulated by the FDIC,’’ which can be 

submitted in paper 58 or electronic 

format.59 To facilitate DSA submissions, 

the FDIC has developed the automated 

Financial Institution Diversity SelfAssessment (FID–SA) application. FID– 

SA provides FDIC-regulated financial 

institutions an easy and efficient way to 

electronically complete the diversity 

self-assessment; work with multiple 

users; view previous submissions; 

attach supporting material; and print 

and save in pdf format.60

Request for Comment 

Comments are invited on: (a) Whether 

the collection of information is 

necessary for the proper performance of 

the FDIC’s functions, including whether 


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Federal Register / Vol. 86, No. 151 / Tuesday, August 10, 2021 / Notices 43663 

the information has practical utility; (b) 

the accuracy of the estimates of the 

burden of the 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 the collection of information 

on respondents, including through the 

use of automated collection techniques 

or other forms of information 

technology. All comments will become 

a matter of public record. 

Federal Deposit Insurance Corporation. 

Dated at Washington, DC, on August 4, 

2021. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2021–16963 Filed 8–9–21; 8:45 am] 

BILLING CODE 6714–01–P 

FEDERAL RESERVE SYSTEM 

Notice of Proposals To Engage in or 

To Acquire Companies Engaged in 

Permissible Nonbanking Activities 

The companies listed in this notice 

have given notice under section 4 of the 

Bank Holding Company Act (12 U.S.C. 

1843) (BHC Act) and Regulation Y, (12 

CFR part 225) to engage de novo, or to 

acquire or control voting securities or 

assets of a company, including the 

companies listed below, that engages 

either directly or through a subsidiary or 

other company, in a nonbanking activity 

that is listed in § 225.28 of Regulation Y 

(12 CFR 225.28) or that the Board has 

determined by Order to be closely 

related to banking and permissible for 

bank holding companies. Unless 

otherwise noted, these activities will be 

conducted throughout the United States. 

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 

question whether the proposal complies 

with the standards of section 4 of the 

BHC Act. 

Unless otherwise noted, comments 

regarding the 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 September 9, 2021. 

A. Federal Reserve Bank of 

Philadelphia (William Spaniel, Senior 

Vice President) 100 North 6th Street, 

Philadelphia, Pennsylvania 19105– 

1521. Comments can also be sent 

electronically to 

Comments.applications@phil.frb.org: 

1. Columbia Bank MHC and Columbia 

Financial, Inc., both of Fair Lawn, New 

Jersey; to acquire Freehold MHC and 

Freehold Bancorp, and indirectly 

acquire Freehold Bank, all of Freehold, 

New Jersey, and thereby engage in 

operating a savings association pursuant 

to Section 225.28(b)(4)(ii) of Regulation 

Y. 

Board of Governors of the Federal Reserve 

System, August 5, 2021. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2021–17023 Filed 8–9–21; 8:45 am] 

BILLING CODE 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 August 25, 2021. 

A. Federal Reserve Bank of Chicago 

(Colette A. Fried, Assistant Vice 

President) 230 South LaSalle Street, 

Chicago, Illinois 60690–1414: 

1. Cheryl Allen, Sterling, Illinois; 

Gregg DeVries, Byron, Illinois; and 

Sandra K. DeVries Trust, Sandra K. 

Devries, as trustee, and Roger P. DeVries 

Trust, Roger P. DeVries, as trustee, all of 

Milledgeville, Illinois; as the DeVries 

Family Control Group, a group acting in 

concert; and Edward M. Tyne, Kay F. 

Tyne, and Margaret A. Tyne, all of Polo, 

Illinois; and Courtney Tyne, 

Washington, DC; as the Tyne Family 

Control Group, a group acting in 

concert, to acquire additional voting 

shares of Milledgeville Bancorp, Inc., 

and thereby indirectly acquire voting 

shares of Milledgeville State Bank, both 

of Milledgeville, Illinois. 

Board of Governors of the Federal Reserve 

System, August 5, 2021. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2021–17022 Filed 8–9–21; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF HEALTH AND 

HUMAN SERVICES 

Administration for Children and 

Families 

[CFDA Numbers: 93.581, 93.587, 93.612] 

Notice of Final Issuance on the 

Administration for Native Americans 

Program Policies and Procedures 

AGENCY: Administration for Native 

Americans, (ANA), Administration for 

Children and Families (ACF), 

Department of Health and Human 

Services (HHS). 

ACTION: Notice of final issuance. 

SUMMARY: Pursuant to section 814 of the 

Native American Programs Act of 1974 

(NAPA), as amended, ANA is required 

to provide members of the public an 

opportunity to comment on proposed 

changes in interpretive rules and 

general statements of policy and to give 

notice of the proposed changes no less 

than 30 days before such changes 

become effective. On February 19, 2021, 

ANA published a Notice of Public 

Comment (NOPC) in the Federal 

Register regarding its proposed 

interpretive rules and general 

statements of policy relative to its six 

FY 2021 Funding Opportunity 

Announcements (FOAs): Environmental 

Regulatory Enhancement (HHS–2021– 

ACF–ANA–NR–1907); Native American 

Language Preservation and 

Maintenance—Esther Martinez 


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