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Federal Register / Vol. 86, No. 29 / Tuesday, February 16, 2021 / Notices
khammond on DSKJM1Z7X2PROD with NOTICES

Agency form number: FR Y30.
OMB control number: 71000250.
Effective Date: The revisions are effective immediately.
Frequency: Event-generated.
Respondents: State member banks SMBs and nonbank subsidiaries of bank holding companies BHCs.
Estimated number of respondents:
SMBs, 740; nonbank subsidiaries of BHCs, 1,126.
Estimated average hours per response:
SMBs, 5 minutes; nonbank subsidiaries of BHCs, 5 minutes.
Estimated annual burden hours:
Recordkeeping, SMBs, 25,837; nonbank subsidiaries of BHCs, 2,346. Disclosure, SMBs, 62; nonbank subsidiaries of BHCs, 94.
General description of report: 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,2 regulated institutions obtain real estate appraisals performed by certified or licensed appraisers in conformance with uniform appraisal standards.3 The Boards regulations implementing Title XI of FIRREA, contained in the Boards Regulation Y, include certain recordkeeping requirements that apply to SMBs, BHCs, 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.4 These Guidelines recommend that institutions adopt certain policies and procedures to number of the FR H4 information collection to reflect that it will no longer account for provisions of Regulation H.
2 A federally related transaction means any real estate-related financial transaction which A a federal financial institutions regulatory agency or the Resolution Trust Corporation engages in, contracts for, or regulates; and B requires the services of an appraiser 12 U.S.C. 33504. The term real estate-related financial transaction means any transaction involving A the sale, lease, purchase, investment in or exchange of real property, including interests in property, or the financing thereof; B the refinancing of real property or interests in real property; and C the use of real property or interests in property as security for a loan or investment, including mortgage-backed securities 12 U.S.C. 33505.
3 12 U.S.C. 3339. The Board also has the authority to require reports from bank holding companies 12
U.S.C. 1844c and state member banks 12 U.S.C.
248a and 324.
4 See SR 185/CA 187: Interagency Statement Clarifying the Role of Supervisory Guidance Sept.
12, 2018.

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ensure compliance with Title XI of FIRREA and Regulation Y.
Legal authorization and confidentiality: The FR Y30 is authorized pursuant to Title XI of FIRREA.3 The obligation to respond is mandatory. The recordkeeping provisions contained in the Guidelines, which is nonbinding, are voluntary.4
Because FR Y30 records would be maintained at each banking organization, the Freedom of Information Act FOIA would only be implicated if the Board obtained such records as part of the examination or supervision of a banking organization.
In the event the records are obtained by the Board as part of an examination or supervision of a financial institution, this information may be considered confidential pursuant to exemption 8 of the FOIA, which protects information contained in examination, operating, or condition reports obtained in the bank supervisory process.5 In addition, the information may also be kept confidential under exemption 4 for the FOIA, which protects commercial or financial information obtained from a person that is privileged or confidential.6
Current actions: On October 14, 2020, the Board published a notice in the Federal Register 85 FR 65050
requesting public comment for 60 days on the extension, with revision, of the FR Y30. The Board proposes to revise the FR Y30 to account for the collections of information contained in the Guidelines. Although previous OMB
Supporting Statements for the FR H4, the former agency tracking number for this clearance, referred to the Guidelines, the Board did not formally clear these collections of information or account for their corresponding burden.
The comment period for this notice expired on December 14, 2020. The Board did not receive any comments.
The revisions will be implemented as proposed.
Board of Governors of the Federal Reserve System, February 10, 2021.
Michele Taylor Fennell, Deputy Associate Secretary of the Board.
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FEDERAL RESERVE SYSTEM
Notice of Proposals to Engage in or to Acquire Companies Engaged in Permissible Nonbanking Activities The companies listed in this notice have given notice under section 4 of the Bank Holding Company Act 12 U.S.C.
1843 BHC Act and Regulation Y, 12
CFR part 225 to engage de novo, or to acquire or control voting securities or assets of a company, including the companies listed below, that engages either directly or through a subsidiary or other company, in a nonbanking activity that is listed in 225.28 of Regulation Y
12 CFR 225.28 or that the Board has determined by Order to be closely related to banking and permissible for bank holding companies. Unless otherwise noted, these activities will be conducted throughout the United States.
The public portions of the applications listed below, as well as other related filings required by the Board, if any, are available for immediate inspection at the Federal Reserve Banks indicated below and at the offices of the Board of Governors.
This information may also be obtained on an expedited basis, upon request, by contacting the appropriate Federal Reserve Bank and from the Boards Freedom of Information Office at https www.federalreserve.gov/foia/
request.htm. Interested persons may express their views in writing on the question whether the proposal complies with the standards of section 4 of the BHC Act.
Unless otherwise noted, comments regarding the applications must be received at the Reserve Bank indicated or the offices of the Board of Governors, Ann E. Misback, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington DC 205510001, not later than March 3, 2021.
A. Federal Reserve Bank of Philadelphia William Spaniel, Senior Vice President 100 North 6th Street, Philadelphia, Pennsylvania 19105
1521. Comments can also be sent electronically to Comments.applications@phil.frb.org:
1. Hyperion Bancshares, Inc., Philadelphia, Pennsylvania; as published in 85 FR 82477 December 18, 2020, to indirectly acquire Hyperion Mortgage, LLC, Atlanta, Georgia, and engage in extending credit and servicing loans and activities related to extending credit pursuant to sections 225.28b1
and 2 of the Boards Regulation Y.

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