View Information Collection Request (ICR) Package
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Blank fields in records indicate information that was not collected or not collected electronically prior to July 2006.
Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
7100-0250
ICR Reference No:
199306-7100-001
Status:
Historical Active
Previous ICR Reference No:
199010-7100-003
Agency/Subagency:
FRS
Agency Tracking No:
Title:
RECORDKEEPING REQUIREMENTS ASSOCIATED WITH REAL ESTATE APPRAISAL STANDARDS FOR FEDERALLY RELATED TRANSACTIONS -- REGULATIONS H AND Y
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
08/06/1993
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/07/1993
Terms of Clearance:
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
Expiration Date
04/30/1994
04/30/1994
07/31/1993
Responses
1,183
0
1,183
Time Burden (Hours)
29,710
0
31,925
Cost Burden (Dollars)
0
0
0
Abstract:
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.
Authorizing Statute(s):
None
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
RECORDKEEPING REQUIREMENTS ASSOCIATED WITH REAL ESTATE APPRAISAL STANDARDS FOR FEDERALLY RELATED TRANSACTIONS -- REGULATIONS H AND Y
ICR Summary 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
1,183
1,183
0
0
0
0
Annual Time Burden (Hours)
29,710
31,925
0
-2,215
0
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:
Yes
Burden Reduction Due to:
Short Statement:
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
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:
06/07/1993
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