Recordkeeping and Disclosure Requirements and Provisions Associated with Real Estate Appraisal Standards

Forms and Documents

Document Name	Status
FRY30_20250530_omb.pdf Supporting Statement A	2025-05-30

IC Document Collections

IC ID	Document Title	Status
36286	Recordkeeping Sections 225.61 - 225.67 for SMBs	Modified
275542	Disclosure Guidelines Other-Guidelines	New
275541	Recordkeeping Section 225.352 Policies and Procedures AVM rule (Ongoing)	New
247630	Recordkeeping Section 225.352 Policies and Procedures AVM rule (Initial setup)	Modified
247629	Recordkeeping Guidelines Other-Guidelines	Modified
187963	Recordkeeping Sections 225.61 - 225.67 for BHCs and nonbank subsidiaries of BHCs	Modified

ICR Details

OMB Control No: 7100-0250	ICR Reference No: 202409-7100-005
Status: Active	Previous ICR Reference No: 202405-7100-007
Agency/Subagency: FRS	Agency Tracking No: FR Y-30
Title: Recordkeeping and Disclosure Requirements and Provisions Associated with Real Estate Appraisal Standards
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/30/2025
	Date Received in OIRA: 05/30/2025
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2028	36 Months From Approved	05/31/2027
Responses	2,213,148	0	340,076
Time Burden (Hours)	298,876	0	28,340
Cost Burden (Dollars)	0	0	0

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Abstract: Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C. § 3331 et seq.) requires that, for federally related transactions, regulated institutions obtain real estate appraisals performed by certified or licensed appraisers in conformance with uniform appraisal standards. The Board’s regulations implementing Title XI of FIRREA, contained in the Board’s Regulation Y - Bank Holding Companies and Change in Bank Control (12 CFR Part 225), include certain recordkeeping requirements that apply to state member banks (SMBs), bank holding companies (BHC), and nonbank subsidiaries of BHCs that extend mortgage credit (together, institutions). The Board and other supervisory agencies also have issued Interagency Appraisal and Evaluation Guidelines (the Guidelines) that convey supervisory expectations relating to real estate appraisals and evaluations used to support real estate-related financial transactions. These Guidelines recommend that institutions adopt certain policies and procedures to ensure compliance with Title XI of FIRREA and Regulation Y.

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Authorizing Statute(s): US Code: 12 USC 3339 Name of Law: Financial Institutions Reform, Recovery, and Enforcement Act of 1989
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 248(a) Name of Law: Federal Reserve Act
   US Code: 12 USC 324 Name of Law: Federal Reserve Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
7100-AG60	Final or interim final rulemaking	89 FR 64538	08/07/2024

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 40638	06/21/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 64538	08/07/2024
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 6

IC Title	Form No.	Form Name
Disclosure Guidelines
Recordkeeping Guidelines
Recordkeeping Section 225.352 Policies and Procedures AVM rule (Initial setup)
Recordkeeping Section 225.352 Policies and Procedures AVM rule (Ongoing)
Recordkeeping Sections 225.61 - 225.67 for BHCs and nonbank subsidiaries of BHCs
Recordkeeping Sections 225.61 - 225.67 for SMBs

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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	2,213,148	340,076	0	12,650	1,860,422	0
Annual Time Burden (Hours)	298,876	28,340	0	115,222	155,314	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: The estimated total annual burden for the FR Y-30 is 183,654 hours, and would increase to 298,876 with the revisions. The agencies estimate that the new recordkeeping burden associated with the final rule would result in an implementation burden of 40 hours per response and an ongoing burden of 5 hours per response. The agencies also updated and aligned their information collections with respect to the burden hours associated with the Guidelines. This would result in a burden of 10 hours per response for recordkeeping and 5 hours per response for disclosure.

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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

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Common Form ICR:  No

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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: 05/30/2025

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