[Federal Register Volume 78, Number 145 (Monday, July 29, 2013)]
[Notices]
[Pages 45534-45535]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-18128]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: 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), 
pursuant to 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.

DATES: Comments must be submitted on or before September 27, 2013.

ADDRESSES: You may submit comments, identified by FR H-(b)11 by any of 
the following methods:
     Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at  http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include OMB 
number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Robert deV. Frierson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue, 
NW., 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, NW.) between 
9:00 a.m. and 5:00 p.m. on weekdays.
    Additionally, commenters may send a copy of their comments to the 
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 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 Web site at: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    Federal Reserve Board Clearance Officer --Cynthia Ayouch-- Office 
of the Chief Data Officer, 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.

SUPPLEMENTARY INFORMATION:

Request for Comment on Information Collection Proposal

    The following information collection, which is being handled under 
this delegated authority, has received initial Board approval and is 
hereby published for comment. At the end of the comment period, the 
proposed information collection, 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;

[[Page 45535]]

    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    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; and
    e. Estimates of capital or start up costs and costs of operation, 
maintenance, and purchase of services to provide information.

Proposal to Approve Under OMB Delegated Authority the Extension for 
Three Years, With Revision, of the Following Report

    Report title: Savings Association Holding Company Report.
    Agency form number: FR H-(b)11.
    OMB control number: 7100-0334.
    Frequency: Quarterly, event-driven, and annually.
    Reporters: Savings and loan holding companies (SLHCs).
    Estimated annual reporting hours: 264.
    Estimated average hours per response: 2.0 hours.
    Number of respondents: 33.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1467a(b)(2)(A)). The FR H-(b)11 covers 6 different 
items. However, the Federal Reserve has determined that supplemental 
information in response to a yes answer for the Quarterly Savings and 
Loan Holding Company Report (FR 2320; OMB No. 7100-0345) FR 2320's 
questions 24, 25, and 26 may be protected from disclosure under 
exemption 4 of the Freedom of Information Act (FOIA), which covers 
``trade secrets and commercial or financial information obtained from a 
person [that is] privileged or confidential'' (5 U.S.C. 522(b)(4)). 
Disclosure of this type of information is likely to cause substantial 
competitive harm to the SLHC providing the information and thus this 
information is protected from disclosure under FOIA exemption 4 (5 
U.S.C. 522(b)(4)).
    With regard to the supplemental information for other FR 2320 
questions that would be provided in item 3 of the FR H-(b)11, as well 
as all other items of the FR H-(b)11, respondents may request 
confidential treatment of such information under one or more of the 
exemptions in the FOIA. All such requests for confidential treatment 
will be reviewed on a case-by-case basis and in response to a specific 
request for disclosure.
    Abstract: Currently all SLHCs must file the FR H-(b)11. However, 
the majority of SLHCs file other Federal Reserve regulatory reports 
such as the Financial Statements for Holding Companies (FR Y-9C; OMB 
No. 7100-0128) or the Parent Only Financial Statements for Small 
Holding Companies (FR Y-9SP; OMB No. 7100-0128); therefore, the FR H-
(b)11 is no longer needed from these SLHCs for supervision purposes. 
The Federal Reserve proposes to revise the current FR H-(b)11 
respondent panel to include only exempt SLHCs.\1\ The FR H-(b)11 report 
provides consolidated financial statements that show detailed 
information by business unit. These consolidated statements provide 
information about the individual entities and the eliminating entries 
that tie into the consolidated statements. These types of financial 
statements are particularly useful for larger complex companies with 
multiple entities. A number of the large insurance savings and loan 
holding companies (ISLHCs) are private and do not file with the 
Securities and Exchange Commission, therefore, the level of detail that 
would be provided in those filings is not available (also information 
on company Web sites provide very limited insight). Additionally, the 
``Other Materially Important Events'' section of the FR H-(b)11 informs 
the Federal Reserve of material litigation or other contingent 
liabilities, key management changes, unexpected economic events, and 
other information that may be of material importance. This information 
is particularly useful in assisting with off-site reviews.
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    \1\ An exempted 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 
pursuant to Section 13 or 15(d) of the Securities Exchange Act of 
1934. (76 FR 81933).
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    In contrast, the Federal Reserve believes that the FR 2320 data 
provides limited detail on its own for Federal Reserve off-site 
surveillance and pre-examination planning and its use would be 
augmented by the continued collection of the FR H-(b)11. Most ISLHCs 
only provide parent company data. These ISLHCs are generally quite 
large and privately held; therefore, the data collected on the FR 2320 
is limited in scope and is not conducive to consolidated supervision. 
Additionally, as part of the Annual Report of Holding Companies (FR Y-
6; OMB No. 7100-0297), the Federal Reserve requires that top-tier 
holding companies with total consolidated assets of $500 million or 
more must have an annual audit of its consolidated financial statements 
by an independent public accountant. However, the FR Y-6 does not 
require detailed quarterly financial statements which give a more 
timely representation of the financial condition of a company.
    In addition, the Federal Reserve proposes to remove the docket 
number from the FR H-(b)11 reporting form and all references to the 
docket number in the instructions. The docket number is no longer used 
as the SLHC identifier. The RSSD number is now the universal identifier 
used by all the regulatory agencies.
    Finally, the continued reporting of the FR H-(b)11 report by exempt 
SLHCs would assist the Federal Reserve in the evaluation of a 
diversified holding company and in determining whether an institution 
is in compliance with applicable laws and regulations.

    Board of Governors of the Federal Reserve System, July 24, 2013.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2013-18128 Filed 7-26-13; 8:45 am]
BILLING CODE 6210-01-P