Notice is hereby given of the final approval of proposed information collections by the Board of Governors of the Federal Reserve System (Board) under OMB delegated authority, as per 5 CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the Public). Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the OMB 83-Is and supporting statements and approved collection of information instrument(s) 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.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Clearance Officer—Cindy Ayouch—Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, DC 20551 (202-452-3829). OMB Desk Officer—Joseph Lackey—Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, Washington, DC 20503.
Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Reports
1. 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.
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. Start Printed Page 46639
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 this information 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.
2. 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.
Reporters: SMBs and subsidiaries of BHCs.
Annual reporting hours: SMBs, 27,775; subsidiaries of BHCs, 39,813.
Estimated average hours per response: 0.25 hours.
Number of respondents: 1,785.
Small businesses are not affected.
General description of report: This information collection is mandatory (12 U.S.C. 3331-3351). 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 and the information is not submitted to the Federal Reserve.
3. Report title: Request for Proposal (RFP) and Request for Price Quotations (RFPQ).
Agency form number: RFP/RFPQ.
OMB Control number: 7100-0180.
Reporters: Vendors and suppliers.
Annual reporting hours: 7,858 hours.
Estimated average hours per response: RFP, 50 hours; RFPQ, 2 hours.
Number of respondents: RFP, 120; RFPQ, 929.
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). This information collection is not given confidential treatment unless a respondent requests that portions of the information be kept confidential and the Board's staff grants the request pursuant to the applicable exemptions provided by FOIA (5 U.S.C. 552).
Abstract: The Federal Reserve uses the RFP and the RFPQ as needed to obtain competitive bids and contracts submitted by vendors (offerors). Depending upon the goods and services for which the Federal Reserve Board 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). The Board staff uses this information to analyze the proposals and select the offer providing the best value.Start Signature
Board of Governors of the Federal Reserve System, July 31, 2003.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 03-19972 Filed 8-5-03; 8:45 am]
BILLING CODE 6210-01-P