[Federal Register Volume 71, Number 67 (Friday, April 7, 2006)]
[Notices]
[Pages 17870-17871]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-5126]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System
SUMMARY: Background.
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board of Governors of the Federal Reserve System 
(Board) its approval authority under the Paperwork Reduction Act, 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 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 June 6, 2006.

ADDRESSES: You may submit comments, identified by FR 2064, FR H-4 or 
RFP/RFPQ, by any of the following methods:
     Agency Web Site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-mail: regs.comments64;federalreserve.gov. Include docket 
number in the subject line of the message.
     FAX: 202-452-3819 or 202-452-3102.
     Mail: Jennifer J. Johnson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue, 
NW., Washington, DC 20551.
    All public comments are available from the Board's Web site at 
http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as 
submitted, unless modified for technical reasons. Accordingly, your 
comments will not be edited to remove any identifying or contact 
information. Public comments may also be viewed electronically or in 
paper in Room MP-500 of the Board's Martin Building (20th and C 
Streets, NW.) between 9 a.m. and 5 p.m. on weekdays.

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.
    Michelle Long, 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
    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

[[Page 17871]]

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 nonbank subsidiaries of BHCs
    SMBs, 24,915; nonbank subsidiaries of BHCs, 20,638
    Estimated average hours per response: 0.25
    Number of respondents: 1,541
    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.
    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: 8,400
    Estimated average hours per response: RFP, 50 hours; RFPQ, 2 hours.
    Number of respondents: RFP, 120; RFPQ, 1,200.
    General description of report: This information collection is 
required to obtain a benefit (12 U.S.C. 243, 244, and 248(l)). 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 is seeking bids, the offeror is requested to provide either 
prices for providing the goods or services (RFPQ) or a document 
covering not only prices, but the means of performing a particular 
service and a description of the qualification of the staff of the 
offeror who will perform the service (RFP). This information is used to 
analyze the proposals and select the offer providing the best value.

    Board of Governors of the Federal Reserve System, April 4, 2006.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E6-5126 Filed 4-6-06; 8:45 am]
BILLING CODE 6210-01-S