This request is
approved for use through 4/30/94 to enable the Federal Reserve to
reestimate the burden hours of this information collection. The
agency's current estimate does not appear to include the time to
conduct the appraisals that Federal banking regulations have
required. Any additional hours that financial insititutions may
spend performing appraisals due to the Federal requirements should
not be considered "usual and customary." (The recent proposed
increase in the dollar threshold may entail greater savings in this
case, though less than th additional increase.)
Inventory as of this Action
Requested
Previously Approved
04/30/1994
04/30/1994
07/31/1993
1,183
0
1,183
29,710
0
31,925
0
0
0
UNDER REGULATIONS H AND Y, STATE
MEMBER BANKS, BANK HOLDING COMPANIES, AND THE NONBANK SUBSIDIARIES
OF BANK HOLDING COMPANIES MUST REVIEW AND EVALUATE THE REQUIRED
APPRAISALS FOR FEDERALLY RELATED TRANSACTIONS.
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.