[Federal Register Volume 77, Number 29 (Monday, February 13, 2012)]
[Notices]
[Pages 7578-7579]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-3192]


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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 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--Cynthia Ayouch--Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829).
    Telecommunications Device for the Deaf (TDD) users may contact 
(202-263-4869), Board of Governors of the Federal Reserve System, 
Washington, DC 20551.
    OMB Desk Officer--Shagufta Ahmed--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, 725 17th Street NW., Washington, DC 20503.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following report:
    Report title: Bank Holding Company Report of Insured Depository 
Institutions' Section 23A Transactions with Affiliates.
    Agency form number: FRY-8.
    OMB Control number: 7100-0126.
    Frequency: Quarterly.
    Reporters: Top-tier bank holding companies (BHCs), including 
financial holding companies (FHCs), for all insured depository 
institutions that are owned by the BHC and by foreign banking 
organizations (FBOs) that directly own a U.S. subsidiary bank.
    Estimated annual reporting hours: Institutions with covered 
transactions: 31,294 hours. Institutions without covered transactions: 
18,204 hours.
    Estimated average hours per response: Institutions with covered 
transactions: 7.8 hours; Institutions without covered transactions: 1 
hour.
    Number of respondents: Institutions with covered transactions, 
1,003; Institutions without covered transactions, 4,551.
    General description of report: This information collection is 
mandatory pursuant to section 5(c) of the Bank Holding Company Act (12 
U.S.C. 1844(c)) and section 225.5(b) of Regulation Y (12 CFR 225.5(b)). 
The data are confidential pursuant to the Freedom of Information Act (5 
U.S.C. 552(b)(4)). Section (b)(4) exempts information deemed 
competitively sensitive from disclosure.
    Abstract: This reporting form collects information on transactions 
between an insured depository institution and its affiliates that are 
subject to section 23A of the Federal Reserve Act. The primary purpose 
of the data is to enhance the Federal Reserve's ability to monitor bank 
exposures to affiliates and to ensure banks' compliance with section 
23A of the Federal Reserve Act. Section 23A of the Federal Reserve Act 
is one of the most important statutes on limiting exposures to 
individual institutions and protecting against the expansion of the 
federal safety net.
    Current Actions: On November 10, 2011, the Federal Reserve 
published a notice in the Federal Register (76 FR 70146) requesting 
public comment for 60 days on the extension, without revision, of the 
Bank Holding Company Report of Insured Depository Institutions' Section 
23A Transactions with Affiliates. The comment period for this notice 
expired on January 9, 2012. The Federal Reserve did not receive any 
comments.
    Final approval under OMB delegated authority of the implementation 
of the following report:
    Report title: Quarterly Savings and Loan Holding Company Report.
    Agency form number: FR 2320.
    OMB Control number: 7100-to be assigned.
    Effective Date: Implementation of the FR 2320 reporting forms and 
instructions will be effective as of the March 31, 2012, report date.
    Frequency: Quarterly.
    Reporters: Top or lower-tier savings and loan holding companies 
(SLHCs).
    Estimated annual reporting hours: 400 hours.
    Estimated average hours per response: 2.5 hours.
    Number of respondents: 40.
    General description of report: This information collection is 
mandatory pursuant to section 312 of the Dodd-Frank Act; and section 10 
of the Home Owners' Loan Act (HOLA), as amended by section 369 of the 
Dodd-Frank Act authorizing the Federal Reserve to collect information 
on the FR 2320. Public Law 111-203, Sec.  312(b)(1) and 12 U.S.C. 
1467a(b)(2), as amended by Public Law 111-201, Sec.  369(8).
    The Federal Reserve has determined that a few of the data items 
that the Office of Thrift Supervision (OTS) had deemed confidential--
specifically, the FR 2320 counterparts to data items HC850, HC855, and 
HC860 on Schedule HC of the Thrift Financial Report (TFR; OMB No. 1557-
0255)--may be protected from disclosure under exemption 4 of the 
Freedom of Information Act (FOIA), (5 U.S.C. 552(b)(4)).
    With regard to the remaining data items the OTS had deemed 
confidential on Schedule HC, the SLHC may request, in writing, 
confidential treatment of such information under one or more of the 
exemptions in FOIA, 5 U.S.C.

[[Page 7579]]

552(b). All such requests for confidential treatment will be reviewed 
on a case-by-case basis.
    Abstract: The FR 2320 will be a quarterly information collection of 
parent only and consolidated financial and organizational structure 
data of top and lower tier SLHCs. The data was previously collected on 
Schedule HC of the TFR. Title III of the Dodd-Frank Act transferred all 
former OTS authorities (including rulemaking) related to SLHCs to the 
Federal Reserve on July 21, 2011. Consequently, the Federal Reserve 
became responsible for the consolidated supervision of SLHCs beginning 
July 21, 2011. The Federal Reserve will use the data to evaluate a 
diversified holding company and to determine whether an SLHC is in 
compliance with applicable laws and regulations. In addition, the data 
collected will contribute to the analyses of the overall financial 
condition of SLHCs to ensure safe and sound operations.
    Current Actions: On November 10, 2011, the Federal Reserve 
published a notice in the Federal Register (76 FR 70146) requesting 
public comment for 60 days on the implementation of the Quarterly 
Savings and Loan Holding Company Report (FR 2320). The comment period 
for this notice expired on January 9, 2012. The Federal Reserve 
received three comment letters addressing the proposed implementation 
of the FR 2320: two from law firms and one from a financial services 
company.
    Two commenters requested clarification of the reporting criteria 
for multi-tiered SLHCs. Also, these commenters asked that the Federal 
Reserve be flexible when determining which SLHCs within a multi-tiered 
organization would be required to file the FR 2320. In response to the 
comments, the Federal Reserve will clarify the FR 2320 instructions to 
indicate which SLHCs should file the FR 2320. The FR 2320 will 
generally be filed by the top-tier SLHC if that SLHC is exempt \1\ from 
filing the Federal Reserve's existing regulatory reports. However, if a 
top-tier SLHC is not required to file the FR 2320, then a lower-tier 
SLHC must file FR 2320. Such determination as to which SLHC will be 
required to file the FR 2320 will be made by the district Federal 
Reserve Bank. In addition, lower-tier SLHCs may voluntarily file the FR 
2320 or may be required to file (in addition to the top-tier SLHC) for 
safety and soundness purposes at the discretion of the district Federal 
Reserve Bank.
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    \1\ An exempt SLHC includes: (1) A grandfathered unitary SLHC 
whose assets are primarily commercial and whose thrifts make up less 
than 5 percent of its consolidated assets; and (2) a SLHC whose 
assets are primarily insurance-related and who does not otherwise 
submit financial reports with the Securities and Exchange 
Commission.
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    One commenter noted certain data items that were given confidential 
treatment by the OTS are no longer afforded the same treatment in the 
FR 2320 and this may be of concern to privately held institutions. 
After considering these comments, the Federal Reserve believes the data 
items no longer held as confidential will not cause competitive harm to 
any institution, publicly or privately held and notes there are several 
BHCs that are privately held where similar information is made publicly 
available. However, as noted above, institutions may request, in 
writing, confidential treatment for any data item in the FR 2320 or for 
all data items in the report, and confidential treatment will be 
afforded if the institution is able to establish that disclosure would 
cause substantial competitive harm.

    Board of Governors of the Federal Reserve System, February 7, 
2012.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2012-3192 Filed 2-10-12; 8:45 am]
BILLING CODE 6210-01-P