The Office of the Comptroller of the Currency (OCC), the Board of Governor of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), the Bureau of Consumer Financial Protection (Bureau), and the Federal Housing Finance Agency (FHFA) (collectively, the Agencies), are jointly proposing a rule to implement section 1473 of the Dodd Frank Wall Street Reform and Consumer Protection Act and establish minimum standards to be applied by participating states in the registration and supervision of appraisal management companies (AMCs). The proposed rule also implements the requirements in section 1473 for states to report to the Appraisal Subcommittee of the Federal Financial Institutions Examination Council (FFIEC) the information required by the Appraisal Subcommittee (ASC) to administer the new national registry of appraisal management companies (AMC National Registry or Registry). All non-federally regulated appraisal management companies operating in a participating state will be required to register in order to be eligible to engage in federally related transactions. AMCs that are owned by institutions regulated by a federal financial institutions regulatory agency are exempt from the requirement to register with the states but must submit information for their inclusion in the National Registry.