Recordkeeping Requirements Associated with Real Estate Appraisal Standards for Federally Related Transactions Pursuant to Regulations H and Y

ICR 202102-7100-009

OMB: 7100-0250

Federal Form Document

Forms and Documents
Document
Name
Status
Justification for No Material/Nonsubstantive Change
2021-05-25
IC Document Collections
ICR Details
7100-0250 202102-7100-009
Active 201805-7100-006
FRS FR H-4
Recordkeeping Requirements Associated with Real Estate Appraisal Standards for Federally Related Transactions Pursuant to Regulations H and Y
No material or nonsubstantive change to a currently approved collection   No
Delegated
Approved without change 05/25/2021
Retrieve Notice of Action (NOA) 05/25/2021
  Inventory as of this Action Requested Previously Approved
05/31/2021 05/31/2021 05/31/2021
338,210 0 377,307
28,184 0 31,442
0 0 0

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
  
None

7100-AE81 Final or interim final rulemaking 83 FR 15019 04/09/2018

  82 FR 35478 07/31/2017
83 FR 15019 04/09/2018
No

2
IC Title Form No. Form Name
Nonbank subsidiaries of BHCs Sections 225.61 – 225.67
SMBs Sections 208.50 – 208.51

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 338,210 377,307 0 0 -39,097 0
Annual Time Burden (Hours) 28,184 31,442 0 0 -3,258 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
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.
05/25/2021


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