Recordkeeping and Disclosure Requirements Associated with Regulation Y for Minimum Requirements for Appraisal Management Companies

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
FRHY5_20220624_83c.pdf	Justification for No Material/Nonsubstantive Change	Uploaded 2022-06-24	Available
FRHY5_FDICBurdenMethodologyMemo.pdf	Supplementary Document	Uploaded 2019-06-26	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
236678	Disclosure Section 225.196 State reporting requirements to the ASC		Modified
217940	Disclosure Section 225.195(c) Federally regulated AMC reporting requirements		Modified
217939	Disclosure Section 225.193(b) State regulated AMC reporting requirements		Modified
217938	Disclosure Section 225.192(b) Written notice of appraiser removal from network or panel		Modified
217937	Recordkeeping Section 225.193(a) Registration and supervision program		Modified

ICR Details

OMB Control No: 7100-0370	ICR Reference No: 202205-7100-009
Status: Historical Active	Previous ICR Reference No: 201906-7100-006
Agency/Subagency: FRS	Agency Tracking No: FR HY-5
Title: Recordkeeping and Disclosure Requirements Associated with Regulation Y for Minimum Requirements for Appraisal Management Companies
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/24/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 06/24/2022
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2022	06/30/2022	06/30/2022
Responses	3,609	0	4,250
Time Burden (Hours)	2,508	0	3,513
Cost Burden (Dollars)	0	0	0

---

Abstract: In 2015, the Board published a final rule implementing section 1473 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), which relates to the supervision and regulation of appraisal management companies (AMCs). An AMC is an entity that serves as an intermediary for, and provides certain appraisal-related services to, creditors. The Board’s final rule instituted certain disclosure requirements for AMCs and U.S. states, which are located in the Board’s Regulation Y- Bank Holding Companies and Change in Bank Control (12 CFR Part 225).

---

Authorizing Statute(s): US Code: 12 USC 3353(e) Name of Law: Financial Institutions Reform, Recovery, and Enforcement Act of 1989
   US Code: 12 USC 3338(a)(1)-(3) Name of Law: Financial Institutions Reform, Recovery, and Enforcement Act of 1989
   US Code: 12 USC 3353(a) Name of Law: Financial Institutions Reform, Recovery, and Enforcement Act of 1989
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 8098	03/06/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 28048	06/17/2019
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 5

table that charts list of burden

IC Title	Form No.	Form Name
Disclosure Section 225.192(b) Written notice of appraiser removal from network or panel
Disclosure Section 225.193(b) State regulated AMC reporting requirements
Disclosure Section 225.195(c) Federally regulated AMC reporting requirements
Disclosure Section 225.196 State reporting requirements to the ASC
Recordkeeping Section 225.193(a) Registration and supervision program

---

ICR Summary of Burden

table that charts list of burden

	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	3,609	4,250	0	0	-641	0
Annual Time Burden (Hours)	2,508	3,513	0	0	-1,005	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The decrease in total annual burden hours reflects an update to the respondent counts.

---

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

---

Common Form ICR:  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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 06/24/2022

---