These recordkeeping requirements are
specified in Title XI of the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989 (FIRREA) as set forth in the
Board’s Regulation H, subpart E (12 CFR 208.50-208.51) and
Regulation Y, subpart G (12 CFR 225.61-225.67). These regulations
require that, for federally related transactions, regulated
institutions obtain real estate appraisals performed by certified
or licensed appraisers in conformance with uniform appraisal
standards. There is no formal reporting form and the information is
not submitted to the Federal Reserve.
US Code:
12
USC 3339 Name of Law: Financial Institutions Reform, Recovery,
and Enforcement Act
The decrease in total annual
burden hours reflects an update to the respondent count.
$0
No
Yes
No
No
No
No
No
Richard Palmer 202 502-8438
Richard.Palmer@ferc.gov
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.