[Federal Register Volume 73, Number 23 (Monday, February 4, 2008)]
[Notices]
[Pages 6515-6517]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-1930]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System
SUMMARY: Background.
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board of Governors of the Federal Reserve System 
(Board) its approval authority under the Paperwork Reduction Act (PRA), 
as per 5 CFR 1320.16, to approve of and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board under conditions set forth in 5 CFR 1320 
Appendix A.1. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. Copies of the Paperwork Reduction Act 
Submission, supporting statements and approved collection of 
information instruments 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.

Request for comment on information collection proposals

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, along with an analysis of 
comments and recommendations received, will be submitted to the Board 
for final approval under OMB delegated authority. Comments are invited 
on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve's estimate of the burden of 
the proposed information collection, including the validity of the 
methodology and assumptions used;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected; and
    d. Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology.

DATES: Comments must be submitted on or before April 4, 2008.

ADDRESSES: You may submit comments, identified by FR Y-3, FR Y-3N, and 
FR Y-4; FR K-1; or FR 1379, by any of the following methods:
     Agency Web Site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-mail: [email protected]. Include docket 
number in the subject line of the message.
     FAX: 202/452-3819 or 202/452-3102.
     Mail: Jennifer J. Johnson, Secretary, Board of Governors 
of the Federal

[[Page 6516]]

Reserve System, 20th Street and Constitution Avenue, N.W., Washington, 
DC 20551.
    All public comments are available from the Board's web site at 
www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as submitted, 
unless modified for technical reasons. Accordingly, your comments will 
not be edited to remove any identifying or contact information. Public 
comments may also be viewed electronically or in paper form in Room MP-
500 of the Board's Martin Building (20th and C Streets, N.W.) between 
9:00 a.m. and 5:00 p.m. on weekdays.
    Additionally, commenters should send a copy of their comments to 
the OMB Desk Officer by mail to the Office of Information and 
Regulatory Affairs, U.S. Office of Management and Budget, New Executive 
Office Building, Room 10235, 725 17th Street, NW., Washington, DC 20503 
or by fax to 202-395-6974.

FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission 
including, the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public website at: http://www.federalreserve.gov/boarddocs/reportforms/review.cfm or may be 
requested from the agency clearance officer, whose name appears below.
    Michelle Shore, Federal Reserve Board Clearance Officer (202-452-
3829), Division of Research and Statistics, Board of Governors of the 
Federal Reserve System, Washington, DC 20551. Telecommunications Device 
for the Deaf (TDD) users may contact (202-263-4869), Board of Governors 
of the Federal Reserve System, Washington, DC 20551.

Proposal to approve under OMB delegated authority the extension for 
three years, with revision, of the following reports:

    1. Report titles: Application for Prior Approval to Become a Bank 
Holding Company or for a Bank Holding Company to Acquire an Additional 
Bank or Bank Holding Company; Notification for Prior Approval to Become 
a Bank Holding Company or for a Bank Holding Company to Acquire an 
Additional Bank or Bank Holding Company; and Notification for Prior 
Approval to Engage Directly or Indirectly in Certain Nonbanking 
Activities
    Agency form numbers: FR Y-3, FR Y-3N, and FR Y-4
    OMB control number: 7100-0121
    Frequency: Event generated
    Reporters: Corporations seeking to become bank holding companies 
(BHCs), or BHCs and state chartered banks that are members of the 
Federal Reserve System.
    Annual reporting hours: 22,920
    Estimated average hours per response: FR Y-3 Section 3(a)(1): 49; 
FR Y-3 Section 3(a)(3) and 3(a)(5): 59.5; FR Y-3N Section 3(a)(1), 
3(a)(3), and 3(a)(5): 5; FR Y-4 Complete notification: 12; FR Y-4 
Expedited notification: 5; and FR Y-4 Post-consummation: 30 minutes
    Number of respondents: 674
    General description of report: This information collection is 
mandatory (12 U.S.C. 1842(a), 1844(b),and 1843(j)(1)(b)). The forms are 
designed so that all information contained in a filing is available to 
the public unless the applicant, notificant, or individual(s) can 
substantiate that an exemption under the Freedom of Information Act 
(FOIA) is satisfied.
    Abstract: The Federal Reserve requires the submission of these 
filings for regulatory and supervisory purposes and to allow the 
Federal Reserve to fulfill its statutory obligations under the Bank 
Holding Company Act of 1956. These filings collect information on 
proposals by bank holding companies involving formations, acquisitions, 
mergers, and nonbanking activities. The Federal Reserve must obtain 
this information to evaluate each individual transaction with respect 
to financial and managerial factors, permissibility, competitive 
effects, net public benefits, and the impact on the convenience and 
needs of affected communities.
    Current Actions: The proposed revisions reflect changes to the 
Federal Reserve's Small Bank Holding Company Policy Statement and the 
Federal Reserve's risk-based and leverage capital guidelines that were 
announced in February 2006. The proposed revisions also reflect recent 
changes in the type of information that the Federal Reserve requires 
from filers for purposes of determining whether information submitted 
in a filing may be provided to the public under the FOIA. Each proposed 
revision is intended to make initial filings more reflective of the 
specifically proposed transaction and thereby reduce the need for 
subsequent information requests, which delay the Federal Reserve's 
consideration of a filing and create additional burden for filers. In 
addition, the instructions have been reformatted to clarify the 
possible filings, clarify the legal and financial requirements for 
different types of filings, and provide additional practical guidance 
to assist a filer in understanding the information and processing 
requirements for particular types of proposals.
    2. Report title: International Applications and Prior Notifications 
under Subparts A and C of Regulation K
    Agency form number: FR K-1
    OMB control number: 7100-0107
    Frequency: Event generated
    Reporters: State member banks, Edge and agreement corporations, 
bank holding companies, and certain foreign banking organizations.
    Annual reporting hours: 889
    Estimated average hours per response: Attachments A and B, 11.5 
hours; Attachments C through G, 10 hours; Attachments H and I, 15.5 
hours; Attachment J, 10 hours; Attachment K, 20 hours
    Number of respondents: 29
    General description of report: This information collection is 
mandatory (12 U.S.C. 601-604(a) and 611-631)) and (12 U.S.C. 
1843(c)(13), 1843(c)(14) and 1844(c)). The applying organization has 
the opportunity to request confidentiality for information that it 
believes will qualify for an FOIA exemption.
    Abstract: Subpart A of Regulation K governs the foreign investments 
and activities of member banks, Edge and agreement corporations, bank 
holding companies, and certain investments by foreign organizations. 
Subpart C of Regulation K governs investments in export trading 
companies. The FR K-1 information collection contains eleven 
attachments for the application and notification requirements embodied 
in Subparts A and C of Regulation K. The Federal Reserve requires these 
applications for regulatory and supervisory purposes and to allow the 
Federal Reserve to fulfill its statutory obligations under the Federal 
Reserve Act and the Bank Holding Company Act of 1956.
    Current Actions: The Federal Reserve proposes to replace the 
existing confidentiality paragraph in the General Information and 
Instructions. In addition, respondents would be required to make a 
certification regarding information contained in the application.
    3. Report titles: Consumer Satisfaction Questionnaire; Federal 
Reserve Consumer Help Center Survey; and Federal Reserve Consumer Help 
Online Complaint Form
    Agency form numbers: FR 1379a, FR 1379b, and FR 1379c
    OMB control number: 7100-0135
    Frequency: Event generated
    Reporters: Consumers
    Annual reporting hours: 2,037

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    Estimated average hours per response: FR 1379a: 5 minutes; FR 
1379b: 5 minutes; FR 1379c: 10 minutes.
    Number of respondents: FR 1379a: 2,640; FR 1379b: 1,800; FR 1379c: 
10,000.
    General description of report: This information collection is 
voluntary and authorized by law (15 U.S.C. 57(a)(f)(1)). While the 
individual respondent's information is confidential, once such 
information has been aggregated, the aggregated information is not 
considered confidential. The information may be aggregated with 
responses from other respondents and released in statistical format 
while maintaining the privacy of the individual respondents. If a 
respondent provides information not specifically solicited on the form, 
that information may be exempt from disclosure under FOIA (5 U.S.C. 
Sec.  552 (b)(4), (b)(6), or (b)(7)) upon specific request from the 
respondent.
    Abstract: The FR 1379 questionnaires are sent to consumers who have 
filed complaints with the Federal Reserve against state member banks. 
The information gathered on the questionnaires is used to determine 
whether consumers are satisfied with the way the Federal Reserve Bank 
handled their complaints and to solicit suggestions for improving the 
complaint investigation process.
    Current Actions: The Federal Reserve proposes to revise the FR 1379 
information collection by: (1) renumbering the current FR 1379 to FR 
1379a and reducing the number of questions from twenty-five to six, (2) 
implementing a new voluntary questionnaire, the Federal Reserve 
Consumer Help Center Survey (FR 1379b) to survey consumers about the 
Federal Reserve Consumer Help (FRCH) center, the Federal Reserve 
System's new central intake center for consumer complaints and 
inquiries, and (3) implementing a new voluntary consumer complaint 
form, the Federal Reserve Consumer Help Online Complaint Form (FR 
1379c) to the FRCH web site\1\ that would allow consumers to submit 
their complaint or inquiry to the FRCH center electronically. The 
proposed changes would be effective second quarter 2008.
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    \1\ See Press Release dated November 19, 2007: 
www.federalreserve.gov/newsevents/press/other/20071119a.htm.

    Board of Governors of the Federal Reserve System, January 30, 
2008.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E8-1930 Filed 2-1-08; 8:45 am]
BILLING CODE 6210-01-S