[Federal Register Volume 68, Number 151 (Wednesday, August 6, 2003)]
[Notices]
[Pages 46638-46639]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-19972]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

SUMMARY:

Background

    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.

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.
    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.

[[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.
    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 
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 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, 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