83 FR 4046 - Agency Information Collection Activities: Proposed Information Collection; Comment Request

FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL

Federal Register Volume 83, Issue 19 (January 29, 2018)

Page Range		4046-4047
FR Document		2018-01571

The ASC, as part of continuing efforts to reduce paperwork and respondent burden, invites the general public, and State and Federal agencies to take this opportunity to comment on a new proposed information collection. Under the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid control number issued by the Office of Management and Budget. The ASC is soliciting comment concerning a proposed collection method entitled ``Reporting information for the AMC Registry.''

Federal Register, Volume 83 Issue 19 (Monday, January 29, 2018)

[Federal Register Volume 83, Number 19 (Monday, January 29, 2018)]
[Notices]
[Pages 4046-4047]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-01571]


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FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL


Agency Information Collection Activities: Proposed Information 
Collection; Comment Request

AGENCY: Appraisal Subcommittee of the Federal Financial Institutions 
Examination Council (ASC).

ACTION: Notice and request for comment.

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SUMMARY: The ASC, as part of continuing efforts to reduce paperwork and 
respondent burden, invites the general public, and State and Federal 
agencies to take this opportunity to comment on a new proposed 
information collection. Under the Paperwork Reduction Act of 1995, an 
agency may not conduct or sponsor, and a respondent is not required to 
respond to, an information collection unless it displays a currently 
valid control number issued by the Office of Management and Budget. The 
ASC is soliciting comment concerning a proposed collection method 
entitled ``Reporting information for the AMC Registry.''

DATES: Comments must be received by March 30, 2018.

ADDRESSES: Commenters are encouraged to submit comments by the Federal 
eRulemaking Portal or email, if possible. You may submit comments by 
any of the following methods:
     Federal eRulemaking Portal: https://www.Regulations.gov. 
Follow the instructions for submitting comments. Click on the ``Help'' 
tab on the Regulations.gov home page to get information on using 
Regulations.gov, including instructions for submitting public comments.
     Email: webmaster@asc.gov.
     Fax: (202) 289-4101.
     Mail: Address to Appraisal Subcommittee, Attn: Lori 
Schuster, Management and Program Analyst, 1401 H Street NW, Suite 760, 
Washington, DC 20005.
     Hand Delivery/Courier: 1401 H Street NW, Suite 760, 
Washington, DC 20005.
    Additionally, you should send a copy of your comments to the ASC 
Desk Officer, 3139-NEW, by mail to U.S. Office of Management and 
Budget, 725 17th Street NW, Room 10235, Washington, DC 20503, or by fax 
to (202) 395-6974.
    In general, the ASC will enter all comments received on the Federal 
eRulemaking (Regulations.gov) website without change, including any 
business or personal information that you provide, such as name and 
address information, email addresses, or phone numbers. Comments 
received, including attachments and other supporting materials, are 
part of the public record and subject to public disclosure. Do not 
enclose any information in your comment or supporting materials that 
you consider confidential or inappropriate for public disclosure. At 
the close of the comment period, all public comments will also be made 
available on the ASC's website at https://www.asc.gov (follow link in 
``What's New'') as submitted, unless modified for technical reasons.
    You may review comments by any of the following methods:
     Viewing Comments Electronically: Go to https://www.Regulations.gov. Click on the ``Help'' tab on the Regulations.gov 
home page to get information on using Regulations.gov, including 
instructions for viewing public comments, viewing other supporting and 
related materials, and viewing the docket after the close of the 
comment period.
     Viewing Comments Personally: You may personally inspect 
comments at the ASC office, 1401 H Street NW, Suite 760, Washington, DC 
20005. To make an appointment, please call Lori Schuster at (202) 595-
7578.

FOR FURTHER INFORMATION CONTACT:  James R. Park, Executive Director, at 
(202) 595-7575, or Alice M. Ritter, General Counsel, at (202) 595-7577, 
Appraisal Subcommittee, 1401 H Street NW, Suite 760, Washington, DC 
20005.

SUPPLEMENTARY INFORMATION: 

I. Background

    Section 1473 of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act of 2010 (Dodd-Frank Act) \1\ included amendments to 
Title XI of the Financial Institutions Reform, Recovery, and 
Enforcement Act of 1989 \2\ (Title XI). Section 1103 of Title XI,\3\ 
Functions of Appraisal Subcommittee, was amended by the Dodd-Frank Act 
to require the ASC to maintain a national registry of appraisal 
management companies (AMCs) of those AMCs that are either:
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    \1\ Public Law 111-203, 124 Stat. 1376.
    \2\ Public Law 101-73, 103 Stat. 183.
    \3\ 12 U.S.C. 3332.
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    (1) Registered with and subject to supervision by a State that has 
elected to register and supervise AMCs; or (2) are operating 
subsidiaries of a Federally regulated financial institution (Federally 
regulated AMCs). Section 1117 of Title XI,\4\ Establishment of State 
appraiser certifying and licensing agencies, was amended by the Dodd-
Frank Act to include additional duties for States, if they so choose, 
to: (1) Register and supervise AMCs; and (2) add information about AMCs 
in their State to the national registry of AMCs (AMC Registry). Section 
1124 of the Dodd-Frank Act required the federal banking agencies, the 
Federal Housing Finance Agency, and the Consumer Financial Protection 
Bureau (collectively, the Agencies) to jointly promulgate a rule 
establishing minimum requirements for the State supervision and 
registration of AMCs, and to promulgate regulations for the reporting 
of activities of AMCs to the ASC.\5\ The Agencies' implementing 
regulations provide that each State electing to register AMCs pursuant 
to Title XI must submit information to the ASC concerning AMCs that 
operate in the State, including AMCs' violations of law, disciplinary 
and enforcement actions against AMCs, and other relevant information 
about AMCs' operations.\6\ The Agencies' implementing regulations also 
provide that a Federally regulated

[[Page 4047]]

AMC must report to the State or States in which it operates the 
reporting requirements established by the ASC.\7\ This proposal is 
being issued pursuant to these requirements.
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    \4\ 12 U.S.C. 3346.
    \5\ See 12 U.S.C. 3332(a), (e).
    \6\ See 12 CFR 34.216, 34.213(a)(7); 12 CFR 225.196, 
225.193(a)(7); 12 CFR 323.14, 323.11(a)(7); 12 CFR 1222.26, 
1222.23(a)(7).
    \7\ See 12 CFR 34.215(c); 12 CFR 225.195(c); 12 CFR 323.13(c); 
12 CFR 1222.25(c).
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    Title: Reporting information for the AMC Registry.
    OMB Number: New Collection.
    Description: The Dodd-Frank Act requires the ASC to maintain the 
AMC Registry of those AMCs that are either: (1) Registered with and 
subject to supervision by a State that has elected to register and 
supervise AMCs; or (2) are Federally regulated AMCs. In order for a 
State that elects to register and supervise AMCs to enter an AMC on the 
AMC Registry, the following items are proposed to be required entries 
by the State via extranet application on the AMC Registry:

State Abbreviation
State Registration Number for AMC
Employer Identification Number (EIN)
AMC Name
    Street Address
    City
    State
    Zip
License or Registration Status
    Effective Date
    Expiration Date
AMC Type (State or multi-State)
Disciplinary Action
    Effective Date
    Expiration Date
Number of Appraisers (for invoicing registry fee)

    States listing AMCs on the AMC Registry will enter the above 
information for each AMC for the initial entry only. After the initial 
entry, the information is retained on the AMC Registry, and will only 
need to be amended if necessary by the State. The estimate for burden 
assumes that 50 States will elect to supervise and register AMCs, and 
that the average number of AMCs in a State will be 150. This estimate 
is based on information currently available, and will be high for some 
States, and low for other States. The initial entry by a State on a 
single AMC is estimated to take 15 minutes. Subsequent entries to amend 
information on an AMC, annually or periodically, are estimated to be 
negligible.
    Type of Review: Regular.
    Affected Public: States.
    Estimated Number of Respondents: 50 States.
    Estimated Burden per Response: 15 minutes.
    Frequency of Response: Annually and on occasion.
    Estimated Total Annual Burden: 1,875 hours.
    Comments submitted in response to this notice will be summarized, 
included in the request for OMB approval, and become a matter of public 
record. Comments are invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility;
    (b) The accuracy of the agency's estimate of the burden of the 
collection of information;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    By the Appraisal Subcommittee.

    Dated: January 19, 2018.
Arthur Lindo,
Chairman.
[FR Doc. 2018-01571 Filed 1-26-18; 8:45 am]
 BILLING CODE 6700-01-P

Federal Register / Vol. 83, No. 19 / Monday, January 29, 2018 / Notices 4047

AMC must report to the State or States Estimated Total Annual Burden: received at the Reserve Bank indicated
in which it operates the reporting 1,875 hours. or the offices of the Board of Governors
requirements established by the ASC.7 Comments submitted in response to not later than February 23, 2018.
This proposal is being issued pursuant this notice will be summarized, A. Federal Reserve Bank of Richmond
to these requirements. included in the request for OMB (Adam M. Drimer, Assistant Vice
Title: Reporting information for the approval, and become a matter of public President) 701 East Byrd Street,
AMC Registry. record. Comments are invited on: Richmond, Virginia 23261–4528.
OMB Number: New Collection. (a) Whether the collection of Comments can also be sent
Description: The Dodd-Frank Act information is necessary for the proper electronically to
requires the ASC to maintain the AMC performance of the functions of the Comments.applications@rich.frb.org:
Registry of those AMCs that are either: agency, including whether the 1. Old Line Bancshares, Inc., Bowie,
(1) Registered with and subject to information shall have practical utility; Maryland; to acquire 100 percent of the
supervision by a State that has elected (b) The accuracy of the agency’s
voting shares of Bay Bancorp, Inc.,
to register and supervise AMCs; or (2) estimate of the burden of the collection
Columbia, Maryland, and thereby
are Federally regulated AMCs. In order of information;
(c) Ways to enhance the quality, indirectly acquire Bay Bank, FSB,
for a State that elects to register and Columbia, Maryland, and thereby
supervise AMCs to enter an AMC on the utility, and clarity of the information to
be collected; engage in operating a savings
AMC Registry, the following items are association, pursuant to section
proposed to be required entries by the (d) Ways to minimize the burden of
the collection on respondents, including 225.28(b)(4)(ii) of Regulation Y.
State via extranet application on the
AMC Registry: through the use of automated collection Board of Governors of the Federal Reserve
techniques or other forms of information System, January 24, 2018.
State Abbreviation technology; and Ann E. Misback,
State Registration Number for AMC (e) Estimates of capital or start-up Secretary of the Board.
Employer Identification Number (EIN) costs and costs of operation,
AMC Name [FR Doc. 2018–01624 Filed 1–26–18; 8:45 am]
maintenance, and purchase of services
Street Address to provide information.
BILLING CODE P
City
State By the Appraisal Subcommittee.
Zip Dated: January 19, 2018. FEDERAL RESERVE SYSTEM
License or Registration Status Arthur Lindo,
Effective Date Formations of, Acquisitions by, and
Chairman.
Expiration Date Mergers of Bank Holding Companies
[FR Doc. 2018–01571 Filed 1–26–18; 8:45 am]
AMC Type (State or multi-State) BILLING CODE 6700–01–P The companies listed in this notice
Disciplinary Action
have applied to the Board for approval,
Effective Date
Expiration Date pursuant to the Bank Holding Company
Number of Appraisers (for invoicing FEDERAL RESERVE SYSTEM Act of 1956 (12 U.S.C. 1841 et seq.)
registry fee) (BHC Act), Regulation Y (12 CFR part
Notice of Proposals To Engage in or 225), and all other applicable statutes
States listing AMCs on the AMC To Acquire Companies Engaged in and regulations to become a bank
Registry will enter the above Permissible Nonbanking Activities holding company and/or to acquire the
information for each AMC for the initial
The companies listed in this notice assets or the ownership of, control of, or
entry only. After the initial entry, the
have given notice under section 4 of the the power to vote shares of a bank or
information is retained on the AMC
Bank Holding Company Act (12 U.S.C. bank holding company and all of the
Registry, and will only need to be
1843) (BHC Act) and Regulation Y, (12 banks and nonbanking companies
amended if necessary by the State. The
CFR part 225) to engage de novo, or to owned by the bank holding company,
estimate for burden assumes that 50
acquire or control voting securities or including the companies listed below.
States will elect to supervise and
assets of a company, including the The applications listed below, as well
register AMCs, and that the average
companies listed below, that engages as other related filings required by the
number of AMCs in a State will be 150.
either directly or through a subsidiary or Board, are available for immediate
This estimate is based on information
other company, in a nonbanking activity inspection at the Federal Reserve Bank
currently available, and will be high for
that is listed in § 225.28 of Regulation Y indicated. The applications will also be
some States, and low for other States.
(12 CFR 225.28) or that the Board has available for inspection at the offices of
The initial entry by a State on a single
determined by Order to be closely the Board of Governors. Interested
AMC is estimated to take 15 minutes.
related to banking and permissible for persons may express their views in
Subsequent entries to amend
bank holding companies. Unless writing on the standards enumerated in
information on an AMC, annually or
otherwise noted, these activities will be the BHC Act (12 U.S.C. 1842(c)). If the
periodically, are estimated to be
conducted throughout the United States. proposal also involves the acquisition of
negligible.
Type of Review: Regular. Each notice is available for inspection a nonbanking company, the review also
Affected Public: States. at the Federal Reserve Bank indicated. includes whether the acquisition of the
Estimated Number of Respondents: 50 The notice also will be available for nonbanking company complies with the
standards in section 4 of the BHC Act
sradovich on DSK3GMQ082PROD with NOTICES

States. inspection at the offices of the Board of
Estimated Burden per Response: 15 Governors. Interested persons may (12 U.S.C. 1843). Unless otherwise
minutes. express their views in writing on the noted, nonbanking activities will be
Frequency of Response: Annually and question whether the proposal complies conducted throughout the United States.
on occasion. with the standards of section 4 of the Unless otherwise noted, comments
BHC Act. regarding each of these applications
7 See 12 CFR 34.215(c); 12 CFR 225.195(c); 12 Unless otherwise noted, comments must be received at the Reserve Bank
CFR 323.13(c); 12 CFR 1222.25(c). regarding the applications must be indicated or the offices of the Board of

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Document Created: 2018-01-27 00:57:40
Document Modified: 2018-01-27 00:57:40

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice and request for comment.
Dates		Comments must be received by March 30, 2018.
Contact		James R. Park, Executive Director, at (202) 595-7575, or Alice M. Ritter, General Counsel, at (202) 595-7577, Appraisal Subcommittee, 1401 H Street NW, Suite 760, Washington, DC 20005.
FR Citation		83 FR 4046