[Federal Register Volume 77, Number 69 (Tuesday, April 10, 2012)]
[Notices]
[Pages 21560-21561]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-8530]


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FEDERAL RESERVE SYSTEM


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

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: 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 Paperwork Reduction Act Submission, 
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 Board Clearance Officer --Cynthia Ayouch--Division of 
Research and Statistics, Board of Governors of the Federal Reserve 
System, Washington, DC 20551 (202) 452-3829) Telecommunications Device 
for the Deaf (TDD) users may contact (202) 263-4869), Board of 
Governors of the Federal Reserve System, Washington, DC 20551.
OMB Desk Officer--Shagufta Ahmed--Office of Information and Regulatory 
Affairs, Office of Management and Budget, New Executive Office 
Building, Room 10235, 725 17th Street NW., Washington, DC 20503.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Reports

    1. Report title: Microeconomic Survey.
    Agency form number: FR 3051.
    OMB control number: 7100-0321.
    Frequency: Annually and monthly, as needed.
    Reporters: Individuals, households, and financial and non-financial 
businesses.
    Estimated annual reporting hours: Annual, 6,000 hours; Monthly, 
18,000 hours.
    Estimated average hours per response: Annual, 60 minutes; Monthly, 
30 minutes.
    Estimated number of respondents: Annual, 6,000; Monthly, 3,000.
    General description of report: This information collection is 
voluntary (12 U.S.C. 225A and 263). If needed, the Federal Reserve can 
make this survey mandatory for Federal Reserve regulated institutions 
under section 9 of the Federal Reserve Act (12 U.S.C. 324) for state 
member banks; section 5(c) of the Bank Holding Company Act (12 U.S.C. 
1844(c)) for bank holding companies and their subsidiaries; sections 25 
and 25(A) of the Federal Reserve Act (12 U.S.C. 602 and 625) for Edge 
and agreement corporations; and section 7(c)(2) of the International 
Banking Act of 1978 (12 U.S.C. 3105(c)(2)) for U.S. branches and 
agencies of foreign banks. Generally, when the survey or study is 
conducted by an outside firm, names or other such directly identifying 
characteristics would not be reported to the Federal Reserve. In 
circumstances where identifying information is provided to the Federal 
Reserve, such information could possibly be protected from Freedom of 
Information Act (FOIA) disclosure by exemptions 4 and 6 (5 U.S.C. 
552(b)(4) and (6)).
    Abstract: The Federal Reserve uses this event-driven survey to 
obtain information specifically tailored to the Federal Reserve's 
supervisory, regulatory, operational, and other responsibilities. The 
Federal Reserve can conduct the FR 3051 up to 13 times per year (one 
survey on an annual basis and another on a monthly basis). The 
frequency and content of the questions depend on changing economic, 
regulatory, or legislative developments.
    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: State Member Banks (SMBs) and nonbank subsidiaries of 
Bank Holding Companies (BHCs).
    Estimated annual reporting hours: SMBs, 30,488 hours; nonbank 
subsidiaries of BHCs, 11,494 hours.
    Estimated average hours per response: SMBs, 0.25; nonbank 
subsidiaries of BHCs, 0.25.
    Number of respondents: SMBs, 824; nonbank subsidiaries of BHCs, 
613.
    General description of report: The recordkeeping requirements of 
this information collection are mandatory (12 U.S.C. 3339). Since the 
Federal Reserve does not collect this information, confidentiality not 
generally be an issue. However, if the Federal Reserve were to collect 
a copy of the appraisal report during an examination, the documents 
could be exempt from disclosure under FOIA (5 U.S.C 552(b)(4) and 
(b)(8)).
    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 nonbank 
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. SMBs and BHCs with credit-extending 
nonbank subsidiaries are expected to maintain records that demonstrate 
that appraisals used in their real estate-related lending activities 
comply with these regulatory requirements. There is no formal reporting 
form.
    3. Report title: Request for Proposal (RFP) and Request for Price 
Quotations (RFPQ).

[[Page 21561]]

    Agency form number: RFP/RFPQ.
    OMB control number: 7100-0180.
    Frequency: On-occasion.
    Reporters: Vendors and suppliers.
    Estimated annual reporting hours: RFP, 7,000 hours; RFPQ, 1,700 
hours.
    Estimated average hours per response: RFP, 50 hours; RFPQ, 2 hours.
    Number of respondents: RFP, 140; RFPQ, 850.
    General description of report: This information collection is 
required to obtain a benefit and is authorized by Sections 10(3), 
10(4), and 11(1) of the Federal Reserve Act (12 U.S.C. 243, 244, and 
248(l)). Proposals from vendors that are not accepted and incorporated 
into contracts with the Federal Reserve would be protected from FOIA 
disclosure by (41 U.S.C. 4702), which expressly prohibits FOIA 
disclosure of these proposals. Moreover, during the solicitation 
process vendors are permitted to mark information contained in their 
proposals that is proprietary or confidential with the label RESTRICTED 
DATA. For information so marked, the Federal Reserve also may determine 
on a case-by-case basis whether FOIA exemption 4, which applies to 
``trade secrets and commercial or financial information,'' would 
protect information from disclosure pursuant to a FOIA request (5 
U.S.C. 552(b)(4)).
    Abstract: The Federal Reserve Board uses the RFP and the RFPQ as 
appropriate to obtain competitive proposals and contracts from approved 
vendors of goods and services. This information collection is required 
to collect data on prices, specifications of goods and services, and 
qualifications of prospective vendors.

Final Approval Under OMB Delegated Authority To Conduct Following 
Survey

    Report title: 2013 Survey of Consumer Finances (SCF).
    Agency form number: FR 3059.
    OMB control number: 7100-0287.
    Frequency: One-time survey.
    Reporters: U.S. families.
    Estimated annual reporting hours: 8,938 hours.
    Estimated average hours per response: Pretest, 75 minutes; and Main 
survey, 75 minutes.
    Number of respondents: Pretest, 150; and Main survey, 7,000.
    General description of report: This information collection is 
voluntary (12 U.S.C. 225a and 263). The names and other characteristics 
that would directly identify respondents would be retained by the 
Federal Reserve's contractor and are exempt from disclosure pursuant to 
the Confidential Information Protection and Statistical Efficiency Act 
and section (b)(3) of the FOIA (5 U.S.C. 552 (b)(3)).
    Abstract: This would be the eleventh triennial SCF since 1983, the 
beginning of the current series. This survey is the only source of 
representative information on the structure of U.S. families' finances. 
The survey would collect data on the assets, debts, income, work 
history, pension rights, use of financial services, and attitudes of a 
sample of U.S. families. Because the ownership of some assets is 
relatively concentrated in a small number of families, the survey would 
make a special effort to ensure proper representation of such assets by 
systematically oversampling wealthier families.
    Current Actions: On February 1, 2012, the Federal Reserve published 
a notice in the Federal Register (77 FR 5015) requesting public comment 
for 60 days on the FR 3051, RFP/RFPQ, FR H-4, and FR 3059 proposals. 
The comment period for this notice expired on April 2, 2012. The 
Federal Reserve did not receive any comments.

    Board of Governors of the Federal Reserve System, April 5, 2012.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 2012-8530 Filed 4-9-12; 8:45 am]
BILLING CODE 6210-01-P