[Federal Register Volume 68, Number 100 (Friday, May 23, 2003)]
[Notices]
[Pages 28224-28226]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-13031]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Proposed Collection; 
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, 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 OMB 83-Is and 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

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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 July 22, 2003.

ADDRESSES: Comments may be mailed to Ms. Jennifer J. Johnson, 
Secretary, Board of Governors of the Federal Reserve System, 20th 
Street and Constitution Avenue, N.W., Washington, DC 20551. However, 
because paper mail in the Washington area and at the Board of Governors 
is subject to delay, please consider submitting your comments by e- 
mail to [email protected], or faxing them to the Office 
of the Secretary at 202-452-3819 or 202-452-3102. Members of the public 
may inspect comments in Room MP-500 between 9:00 a.m. and 5:00 p.m. on 
weekdays pursuant to 261.12, except as provided in 261.14, of the 
Board's Rules Regarding Availability of Information, 12 CFR 261.12 and 
261.14.
    A copy of the comments may also be submitted to the OMB desk 
officer for the Board: Joseph Lackey, Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 3208, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: A copy of the proposed form and 
instructions, the Paperwork Reduction Act Submission (OMB 83-I), 
supporting statement, and other documents that will be placed into 
OMB's public docket files once approved may be requested from the 
agency clearance officer, whose name appears below. Cindy Ayouch, 
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 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 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. 
Sec. 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
    Frequency: Event-generated
    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 
(FIRREA) 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
    Frequency: On-occasion
    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

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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.
    Board of Governors of the Federal Reserve System, May 20, 2003.

Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 03-13031 Filed 5-22-03; 8:45 am]
BILLING CODE 6210-01-S