[Federal Register Volume 69, Number 122 (Friday, June 25, 2004)]
[Notices]
[Pages 35626-35627]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-14417]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System
SUMMARY: Notice is hereby given of the final approval of proposed 
information collections by the Board of Governors of the Federal 
Reserve System (Board) under OMB delegated authority, as per 5 CFR 
1320.16 (OMB Regulations on Controlling Paperwork Burdens on the 
Public). Board-approved collections of information are incorporated 
into the official OMB inventory of currently approved collections of 
information. Copies of the OMB 83-Is and supporting statements and 
approved collection of information instrument(s) are placed into OMB's 
public docket files. The Federal Reserve may not conduct or sponsor, 
and the respondent is not required to respond to, an information 
collection that has been extended, revised, or implemented on or after 
October 1, 1995, unless it displays a currently valid OMB control 
number.

FOR FURTHER INFORMATION CONTACT: Acting Federal Reserve Clearance 
Officer - Michelle Long, Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829).
    OMB Desk Officer - Mark Menchik, Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503.

SUPPLEMENTARY INFORMATION:

Final approval under OMB delegated authority of the extension for three 
years, without revision, of the following reports:

    1. Report title: Notice of Proposed Stock Redemption
    Agency form number: FR 4008
    OMB Control number: 7100-0131
    Frequency: On occasion
    Reporters: Bank holding companies
    Annual reporting hours: 171 hours
    Estimated average hours per response: 15.5 hours
    Number of respondents: 11
    General description of report: This information collection is 
mandatory (12 U.S.C. Sec.  1844(c)) and is generally not given 
confidential treatment.
    Abstract: The Federal Reserve requires certain bank holding 
companies (BHCs), based on an amount of redemptions over a defined 
period, to give written notice to the appropriate Reserve Bank before 
purchasing or redeeming their equity securities. There is no formal 
reporting form. The Federal Reserve uses the information to fulfill its 
statutory obligation to supervise BHCs.
    2. Report title: Filings Related to the Gramm-Leach-Bliley Act
    Agency form number: FR 4010, FR 4011, FR 4012, FR 4017, FR 4019
    OMB Control number: 7100-0292
    Frequency: On occasion
    Reporters: Bank holding companies, including financial holding 
companies foreign banking organizations, and state member banks
    Annual reporting hours: 3,142 hours
    Estimated average hours per response: FR 4010: BHC 3 hours, FBOs 
3.5 hours; FR 4011: Activities financial in nature, or incidental or 
complementary to financial activities 10 hours, Advisory opinions 10 
hours; FR 4012: BHCs decertified as FHCs 1 hour, FHCs back into 
compliance 10 hours; FR 4017: SMBs 4 hours; FR 4019: Regulatory relief 
requests 1 hour, Portfolio company notification 1 hour; Recordkeeping: 
50 hours
    Number of respondents: FR 4010: BHC 58, FBOs 5; FR 4011: Activities 
financial in nature, or incidental or complementary to financial 
activities 2, Advisory opinions 2; FR 4012: BHCs decertified as FHCs 
13, FHCs back into compliance 27; FR 4017: SMBs 5; FR 4019: Regulatory 
relief requests 5, Portfolio company notification 5; Recordkeeping: 52
    General description of report: These collections of information are 
required to obtain a benefit and are authorized under:
    FR 4010: Section 4(l)(1)(C) of the BHC Act (12 U.S.C. Sec.  
1843(1)(l)(C)), section 8(a) of the International Banking Act (12 
U.S.C. Sec.  3106(a)), and sections 225.82 and 225.91 of Regulation Y 
(12 C.F.R. 225.82 and 225.91);
    FR 4011: Section 4(k) of the BHC Act (12 U.S.C. Sec.  1843(k)) and 
sections 225.88(b) and (e) and 225.89 of Regulation Y (12 C.F.R. 
225.88(b) and (e) and 225.89);
    FR 4012: Section 4(m) of the BHC Act (12 U.S.C. Sec.  1843(m)), 
section 8(a) of the International Banking Act (12 U.S.C. Sec.  
3106(a)), and sections 225.83 and 225.93 of Regulation Y (12 C.F.R. 
225.83 and 225.93);
    FR 4017: Section 9 of the Federal Reserve Act (12 U.S.C. Sec.  335) 
and section 208.76 of Regulation H (12 C.F.R. 208.76);
    FR 4019: Section 4(k)(7) of the BHC Act (12 U.S.C. Sec.  
1843(k)(7)) and sections 225.171(e)(3), 225.172(b)(4), and 
225.173(c)(2) of Regulation Y (12 C.F.R. 225.171(e)(3), 225.172(b)(4), 
and 225.173(c)(2));
    Recordkeeping: Section 4(k)(7) of the BHC Act (12 U.S.C. Sec.  
1843(k)(7)) and sections 225.171(e)(4) and 225.175 of Regulation Y (12 
C.F.R. 225.171(e)(4) and 225.171).
    A company may request confidentiality for the information contained 
in these information collections pursuant to section (b)(4) and (b)(6) 
of the Freedom of Information Act (5 U.S.C. 552 (b)(4) and (b)(6)).
    Abstract: Each BHC or FBO seeking FHC status must file the FR 4010 
declaration, which includes information needed to verify eligibility 
for FHC status. By filing the FR 4011 a requestor may ask the Board to 
determine that an activity is financial in nature, to issue an advisory 
opinion that an activity is within the scope of an activity previously 
determined to be financial in nature, or to approve engagement in an 
activity complementary to a financial activity. Any FHC ceasing to meet 
capital or managerial prerequisites for

[[Page 35627]]

FHC status must notify the Board, by filing the FR 4012 notice, of the 
deficiency, and often must submit plans to the Board to cure the 
deficiency. Any SMB seeking to establish a financial subsidiary must 
seek the Board's prior approval by submitting the FR 4017 requirements. 
Any FHC seeking to extend the 10-year holding period for a merchant 
banking investment must submit the FR 4019 requirements to apply for 
the Board's prior approval, and a FHC also must notify the Board if it 
routinely manages or operates a portfolio company for more than nine 
months. All FHCs engaging in merchant banking activities must keep 
records of those activities, and make them available to examiners. 
There are no formal reporting forms for these event-generated filings.
    3. Report title: Notice Claiming Status as an Exempt Transfer Agent
    Agency form number: FR 4013
    OMB Control number: 7100-0137
    Frequency: On occasion
    Reporters: Banks, bank holding companies (BHCs), and certain trust 
companies
    Annual reporting hours: 6 hours
    Estimated average hours per response: 2 hours
    Number of respondents: 3
    General description of report: This information collection is 
voluntary (15 U.S.C. 78q-1(c)(1)) and the Federal Reserve is authorized 
to collect this data (15 U.S.C. 78c (a)(34)(B)(ii)). The data collected 
are not given confidential treatment.
    Abstract: Banks, BHCs, and trust companies subject to the Federal 
Reserve's supervision that are low-volume transfer agents voluntarily 
file the notice on occasion with the Federal Reserve. Transfer agents 
are institutions that provide securities transfer, registration, 
monitoring, and other specified services on behalf of securities 
issuers. The purpose of the notice, which is effective until the agent 
withdraws it, is to claim exemption from certain rules and regulations 
of the Securities and Exchange Commission (SEC). The Federal Reserve 
uses the notices for supervisory purposes because the SEC has assigned 
to the Federal Reserve responsibility for collecting the notices and 
verifying their accuracy through examinations of the respondents. The 
notice is made by letter; there is no reporting form.
    4. Report title: Notice of Branch Closure
    Agency form number: 4031
    OMB control number: 7100-0264
    Frequency: On occasion
    Reporters: State member banks
    Annual reporting hours: 783
    Estimated average hours per response: 2 hours for reporting 
requirements; 1 hour for disclosure requirements; 8 hours for 
recordkeeping requirements
    Number of respondents: 239
    General description of report: This information collection is 
mandatory (12 U.S.C. 1831r-l(a)(1)) and may be given confidential 
treatment upon request (5 U.S.C. 552(b)(4)).
    Abstract: The mandatory reporting, recordkeeping, and disclosure 
requirements regarding the closing of any branch of an insured 
depository institution are imposed by section 228 of the Federal 
Deposit Insurance Corporation Improvement Act of 1991. There is no 
reporting form associated with the reporting portion of this 
information collection; state member banks notify the Federal Reserve 
by letter prior to closing a branch. The Federal Reserve uses the 
information to fulfill its statutory obligation to supervise state 
member banks.
    5. Report title: Reports Related to Securities of State Member 
Banks as Required by Regulation H
    Agency form number: Reg H-1
    OMB Control number: 7100-0091
    Frequency: Quarterly and on occasion
    Reporters: State member banks
    Annual reporting hours: 1,390 hours
    Estimated average hours per response: 5.11 hours
    Number of respondents: 16
    General description of report: This information collection is 
mandatory (15 U.S.C. 781(i)) and is not given confidential treatment.
    Abstract: The Federal Reserve's Regulation H requires certain state 
member banks to submit information relating to their securities to the 
Federal Reserve on the same forms that bank holding companies and 
nonbank entities use to submit similar information to the Securities 
and Exchange Commission. The information is primarily used for public 
disclosure and is available to the public upon request.

Final approval under OMB delegated authority of the extension for three 
years, with revision, of the following report:

    1. Report title: Consolidated Report of Condition and Income for 
Edge and Agreement Corporations
    Agency form number: FR 2886b
    OMB control number: 7100-0086
    Frequency: Quarterly
    Reporters: Edge and agreement corporations
    Annual reporting hours: 3,173 hours
    Estimated average hours per response: 14.7 banking corporations, 
8.5 investment corporations
    Number of respondents: 21 banking corporations, 57 investment 
corporations
    General description of report: This information collection is 
mandatory (12 U.S.C. Sec. Sec.  602 and 625). For Edge corporations 
engaged in banking, information collected on schedules E and L are held 
confidential pursuant to Section (b)(4) of the Freedom of Information 
Act (5 U.S.C. Sec.  552(b)(4)). For investment Edge corporations only 
information collected on Schedule E is given confidential treatment 
pursuant to Section (b)(4) of the Freedom of Information Act (5 U.S.C. 
Sec.  552(b)(4)).
    Abstract: This report collects a balance sheet, income statement, 
and ten supporting schedules, and it parallels the commercial bank 
Reports of Condition and Income (Call Report) (FFIEC 031; OMB No. 7100-
0036). The Federal Reserve uses the data collected on the FR 2886b to 
supervise Edge corporations, identify present and potential problems, 
and monitor and develop a better understanding of activities within the 
industry.
    Current action: The Federal Reserve has approved the proposed 
changes to the FR 2886b. The proposed revisions included aligning FR 
2886b schedule titles, identifiers, and ordering of line items with the 
Call Report, effective with the September 30, 2004 report date. In 
addition, the Federal Reserve proposed to modify the FR 2886b report 
consistent with any applicable revisions to the Call Report, ultimately 
adopted by the FFIEC for implementation in March 2005.

    Board of Governors of the Federal Reserve System, June 21, 2004.
Jennifer J. Johnson
Secretary of the Board.
[FR Doc. 04-14417 Filed 6-24-04; 8:45 am]
BILLING CODE 6210-01-S