[Federal Register Volume 73, Number 181 (Wednesday, September 17, 2008)]
[Notices]
[Pages 53872-53873]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-21636]


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FEDERAL RESERVE SYSTEM


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

SUMMARY:

Background

    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 Paperwork Reduction Act Submission, 
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: Federal Reserve Board Clearance 
Officer--Michelle Shore--Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829).
    OMB Desk Officer--Kimberly P. Nelson--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503.

[[Page 53873]]

    Final approval under OMB delegated authority of the extension for 
three years, with revision, of the following reports:
    1. Report title: International Applications and Prior Notifications 
Under Subpart B of Regulation K.
    Agency form number: FR K-2.
    OMB control number: 7100-0284.
    Frequency: On occasion.
    Reporters: Foreign banks.
    Annual reporting hours: 630 hours.
    Estimated average hours per response: 35 hours.
    Number of respondents: 18.
    General description of report: This information collection is 
mandatory (12 U.S.C. 3105, 3107, and 3108). The applying or notifying 
organization has the opportunity to request confidentiality for 
information that it believes will qualify for a Freedom of Information 
Act exemption.
    Abstract: Foreign banks are required to obtain the prior approval 
of the Federal Reserve to establish a branch, agency, or representative 
office; to acquire ownership or control of a commercial lending company 
in the United States; or to change the status of any existing office in 
the United States. The Federal Reserve uses the information, in part, 
to fulfill its statutory obligation to supervise foreign banking 
organizations with offices in the United States.
    Current actions: On July 1, 2008, the Federal Reserve published a 
notice in the Federal Register (73 FR 37455) requesting public comment 
for 60 days on the extension, with revision, of the applications and 
notifications. The comment period for this notice expired on September 
2, 2008. The Federal Reserve did not receive any comments. The 
revisions will be implemented as proposed.
    2. Report title: Application for a Foreign Organization to Acquire 
a Bank Holding Company.
    Agency form number: FR Y-3F.
    OMB control number: 7100-0119.
    Frequency: On occasion
    Reporters: Any company organized under the laws of a foreign 
country seeking to acquire a U.S. subsidiary bank or bank holding 
company
    Annual reporting hours: 580 hours
    Estimated average hours per response: Initial application, 90 
hours; subsequent application, 70 hours.
    Number of respondents: Initial application, 1; subsequent 
application, 7.
    General description of report: This information collection is 
required to obtain or retain a benefit under sections 3(a), 3(c), and 
5(a) through 5(c) of the Bank Holding Company Act (12 U.S.C. 1842(a) 
and (c) and 1844(a) through (c)). The information provided in the 
application is not confidential unless the applicant specifically 
requests confidentiality and the Federal Reserve approves the request.
    Abstract: Under the Bank Holding Company Act submission of this 
application is required for any company organized under the laws of a 
foreign country seeking to acquire a U.S. subsidiary bank or bank 
holding company. Applicants must provide financial and managerial 
information, discuss the competitive effects of the proposed 
transaction, and discuss how the proposed transaction would enhance the 
convenience and needs of the community to be served. The Federal 
Reserve uses the information, in part, to fulfill its supervisory 
responsibilities with respect to foreign banking organizations in the 
United States.
    Current actions: On July 1, 2008, the Federal Reserve published a 
notice in the Federal Register (73 FR 37455) requesting public comment 
for 60 days on the extension, with revision, of the application. The 
comment period for this notice expired on September 2, 2008. The 
Federal Reserve did not receive any comments. The revisions will be 
implemented as proposed.
    3. Report title: Domestic Finance Company Report of Consolidated 
Assets and Liabilities.
    Agency form number: FR 2248.
    OMB control number: 7100-0005.
    Frequency: Monthly, quarterly, and semi-annually.
    Reporters: Domestic finance companies and mortgage companies.
    Annual reporting hours: 317 hours.
    Estimated average hours per response: Monthly, 18 minutes; 
quarterly, 27 minutes; semi-annually, 10 minutes.
    Number of respondents: 70.
    General description of report: This information collection is 
voluntary (12 U.S.C. 225(a)). Individual respondent data are 
confidential under section (b)(4) of the Freedom of Information Act (5 
U.S.C. 552).
    Abstract: The monthly FR 2248 collects balance sheet data on major 
categories of consumer and business credit receivables, major short-
term liabilities, and securitized assets. For quarter-end months 
(March, June, September, and December), additional asset and liability 
items are collected to provide a full balance sheet. If the need 
arises, a special addendum may be used, no more than semi-annually, for 
timely information on questions of immediate concern to the Federal 
Reserve.
    Current actions: On July 1, 2008, the Federal Reserve published a 
notice in the Federal Register (73 FR 37455) requesting public comment 
for 60 days on the extension, with revision, of this information 
collection. The comment period for this notice expired on September 2, 
2008. The Federal Reserve did not receive any comments. The revisions 
will be implemented as proposed.

    Board of Governors of the Federal Reserve System, September 11, 
2008.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E8-21636 Filed 9-16-08; 8:45 am]
BILLING CODE 6210-01-P