The Digital Library Federation and OCLC have released their Registry of Digital Masters Working Group’s Registry of Digital Masters Record Creation Guidelines.
Here is an excerpt from the Purpose section of the document:
By recording materials in the Registry, institutions are signaling the intent to preserve and maintain the accessibility of the described materials over an extended timeframe. This implies that materials were born digital or have been converted to digital form, that the digital objects are stored in professionally managed systems, and that the institution is committed to retain and preserve them. . . .
These guidelines detail which MARC 21 elements should be used to carry Registry-required information. Registry records describe materials that an institution intends to digitize, either from existing paper- and/or microfilm-based materials (“intent to digitizeâ€), as well as born digital materials, and to indicate the standards by which the registered objects have been digitized.
A Registry record also provides information about whether a specific item has already been digitized, and if so, whether the digitization has been done at an adequate level such that another digital copy is not required, what institution is responsible for the digitization, what institution is responsible for the preservation of the digital content, and what specific materials are available.