[Federal Register Volume 78, Number 238 (Wednesday, December 11, 2013)]
[Notices]
[Pages 75346-75349]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-29507]


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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

[[Page 75347]]

under conditions set forth in 5 CFR part 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 February 10, 2014.

ADDRESSES: You may submit comments, identified by FR Y-11/11S, FR 2314/
2314S, FR Y-7N/7NS, FR Y-7Q, or FR 2886b, 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 
http://www.federalreserve.gov/apps/foia/proposedregs.aspx 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 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;
    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 reports:
    1. Report title: Financial Statements of U.S. Nonbank Subsidiaries 
of U.S. Holding Companies and the Abbreviated Financial Statements of 
U.S. Nonbank Subsidiaries of U.S. Holding Companies.
    Agency form number: FR Y-11 and FR Y-11S.
    OMB control number: 7100-0244.
    Frequency: Quarterly and annually.
    Reporters: Holding companies.
    Estimated annual reporting hours: FR Y-11 (quarterly): 11,125; FR 
Y-11 (annual): 1,380; FR Y-11S: 255.
    Estimated average hours per response: FR Y-11 (quarterly): 6.8; FR 
Y-11 (annual): 6.8; FR Y-11S: 1.
    Number of respondents: FR Y-11 (quarterly): 409; FR Y-11 (annual): 
203; FR Y-11S: 255.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(c)). Overall, the Federal Reserve does not 
consider these data to be confidential. However, a respondent may 
request confidential treatment pursuant to sections (b)(4), (b)(6), and 
(b)(8) of the Freedom of Information Act (5 U.S.C. 552(b)(4), (b)(6), 
(b)(8)). The applicability of these exemptions would need to be 
determined on a case-by-case basis.
    Abstract: The FR Y-11 reporting forms collect financial information 
for individual non-functionally regulated U.S. nonbank subsidiaries of 
domestic holding companies (i.e., bank holding companies, savings and 
loan holding companies, and securities holding companies). Holding 
companies file the FR Y-11 on a quarterly or annual basis or the FR Y-
11S annually predominantly based on asset size thresholds, and for the 
FR Y-11S, based on an additional threshold related to the percentage of 
consolidated assets of the top-tier organization. The FR Y-11 data are 
used with other holding company data to assess the condition of holding 
companies that are heavily engaged in nonbanking activities and to 
monitor the volume, nature, and condition of their nonbanking 
operations.
    Current actions: In order to reduce reporting burden, the Federal 
Reserve proposes to increase the asset size thresholds for filing the 
annual FR Y-11 and FR Y-11S and to eliminate the threshold based on the 
percentage of consolidated assets of the top-tier organization for the 
FR Y-11S. The Federal Reserve also proposes to clarify when FR Y-11 
(quarterly/annually) and FR Y-11S reports must be filed if a subsidiary 
is divested or liquidated.
    2. Report title: Financial Statements of Foreign Subsidiaries of 
U.S. Banking Organizations and the Abbreviated Financial Statements of 
Foreign Subsidiaries of U.S. Banking Organizations.
    Agency form number: FR 2314 and FR 2314S.
    OMB control number: 7100-0073.
    Frequency: Quarterly and annually.
    Reporters: U.S. state member banks, holding companies, and Edge or 
agreement corporations.

[[Page 75348]]

    Estimated annual reporting hours: FR 2314 (quarterly): 14,546; FR 
2314 (annual): 1,452; FR 2314S: 308.
    Estimated average hours per response: FR 2314 (quarterly): 6.6; FR 
2314 (annual): 6.6; FR 2314S: 1.
    Number of respondents: FR 2314 (quarterly): 551; FR 2314 (annual): 
220; FR 2314S: 308.
    General description of report: This information collection is 
mandatory (12 U.S.C. 324, 602, 625, 1844(c)). Overall, the Federal 
Reserve does not consider these data to be confidential. However, a 
respondent may request confidential treatment pursuant to sections 
(b)(4), (b)(6), and (b)(8) of the Freedom of Information Act (5 U.S.C. 
552(b)(4), (b)(6), (b)(8)). The applicability of these exemptions would 
need to be determined on a case-by-case basis.
    Abstract: The FR 2314 reporting forms collect financial information 
for non-functionally regulated direct or indirect foreign subsidiaries 
of U.S. state member banks (SMBs), Edge and agreement corporations, and 
holding companies (i.e., bank holding companies, savings and loan 
holding companies, and securities holding companies). Parent 
organizations (SMBs, Edge and agreement corporations, or holding 
companies) file the FR 2314 on a quarterly or annual basis or the FR 
2314S annually based predominantly on asset size thresholds, and for 
the FR 2314S, based on an additional threshold related to the 
percentage of consolidated assets of the top-tier organization. The FR 
2314 data are used to identify current and potential problems at the 
foreign subsidiaries of U.S. parent companies, to monitor the 
activities of U.S. banking organizations in specific countries, and to 
develop a better understanding of activities within the industry, in 
general, and of individual institutions, in particular.
    Current actions: In order to reduce reporting burden, the Federal 
Reserve proposes to increase the asset size thresholds for filing the 
annual FR 2314 and FR 2314S and to eliminate the threshold based on the 
percentage of consolidated assets of the top-tier organization for the 
FR 2314S. The Federal Reserve also proposes to clarify when the FR 2314 
(quarterly/annually) and FR 2314S reports must be filed if a subsidiary 
is divested or liquidated.
    3. Report title: Financial Statements of U.S. Nonbank Subsidiaries 
Held by Foreign Banking Organizations and the Abbreviated Financial 
Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking 
Organizations.
    Agency form number: FR Y-7N, FR Y-7NS.
    OMB control number: 7100-0125.
    Frequency: Quarterly and annually.
    Reporters: Foreign bank organizations (FBOs).
    Estimated annual reporting hours: FR Y-7N (quarterly): 4,978; FR Y-
7N (annual): 660; FR Y-7NS: 93.
    Estimated average hours per response: FR Y-7N (quarterly): 6.8; FR 
Y-7N (annually): 6.8; FR Y-7NS: 1.
    Number of respondents: FR Y-7N (quarterly): 183; FR Y-7N 
(annually): 97; FR Y-7NS: 93.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(c), 3106(c) and 3108)). Overall, the Federal 
Reserve does not consider these data to be confidential. However, 
individual respondents may request confidential treatment for any of 
these reports pursuant to sections (b)(4) and (b)(6) of the Freedom of 
Information Act (5 U.S.C. 522(b)(4) and (b)(6)). The applicability of 
these exemptions would need to be determined on a case-by-case basis.
    Abstract: The FR Y-7N and FR Y-7NS collect financial information 
for non-functionally regulated U.S. nonbank subsidiaries held by FBOs 
other than through a U.S. bank holding company (BHC), U.S. financial 
holding company (FHC), or U.S. bank. FBOs file the FR Y-7N quarterly or 
annually or the FR Y-7NS annually predominantly based on asset size 
thresholds.
    Current actions: In order to reduce reporting burden, the Federal 
Reserve proposes to increase the asset thresholds for filing the annual 
FR-7N and FRY-7NS. The Federal Reserve also proposes to clarify when FR 
Y-7N (quarterly/annually) and FR Y-7NS reports must be filed if a 
subsidiary is divested or liquidated.
    Proposal to approve under OMB delegated authority the extension for 
three years, without revision, of the following reports:
    1. Report title: Capital and Asset Report for Foreign Banking 
Organizations.
    Agency form number: FR Y-7Q.
    OMB control number: 7100-0125.
    Frequency: Quarterly and annually.
    Reporters: FBOs.
    Estimated annual reporting hours: FR Y-7Q (quarterly): 545; FR Y-7Q 
(annually): 43.
    Estimated average hours per response: FR Y-7Q (quarterly): 1.25; FR 
Y-7Q (annually): 1.
    Number of respondents: FR Y-7Q (quarterly): 109; FR Y-7Q 
(annually): 43.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(c), 3106(c) and 3108)). Overall, the Federal 
Reserve does not consider these data to be confidential. However, 
individual respondents may request confidential treatment for any of 
these reports pursuant to sections (b)(4) and (b)(6) of the Freedom of 
Information Act (5 U.S.C. 522(b)(4) and (b)(6)). The applicability of 
these exemptions would need to be determined on a case-by-case basis.
    Abstract: The FR Y-7Q collects consolidated regulatory capital 
information from all FBOs either quarterly or annually. FBOs that have 
effectively elected to become FHCs file the FR Y-7Q quarterly, and 
effective March 31, 2014, FBOs with total consolidated worldwide assets 
of $50 billion or more will file the FR Y-7Q quarterly. All other FBOs 
file the FR Y-7Q annually.
    2. 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 and investment 
(nonbanking) Edge and agreement corporations.
    Estimated annual reporting hours: Banking: Edge and agreement 
corporations (quarterly): 424; Banking: Edge and agreement corporations 
(annually): 15; Investment: Edge and agreement corporations 
(quarterly): 1,114; Investment: Edge and agreement corporations 
(annually): 115.
    Estimated average hours per response: Banking: Edge and agreement 
corporations (quarterly): 15.15; Banking: Edge and agreement 
corporations (annually): 15.15; Investment: Edge and agreement 
corporations (quarterly): 9.6; Investment: Edge and agreement 
corporations (annually): 9.6.
    Number of respondents: Banking: Edge and agreement corporations 
(quarterly): 7; Banking: Edge and agreement corporations (annually): 1; 
Investment: Edge and agreement corporations (quarterly): 29; 
Investment: Edge and agreement corporations (annually): 12.
    General description of report: This information is mandatory (12 
U.S.C. 602, 625). In addition, with respect to the contact information 
collected in the Patriot Act Contact Information section, the Board's 
regulation's (12 CFR 211.5(m)) instruct Edge and agreement corporations 
to comply with the information sharing regulations that the Department 
of the Treasury issued pursuant to Section 314(a) of the USA Patriot 
Act of 2001, Public Law 107-56, 115 Stat. 307 (31 U.S.C. 5318(h)); and 
implemented at 31 CFR 1010.520(b).

[[Page 75349]]

    For Edge corporations engaged in banking, current Schedules RC-M 
(with the exception of item 3) and RC-V are held confidential pursuant 
to Section (b)(4) of the Freedom of Information Act (5 U.S.C. 
552(b)(4)). For investment Edge corporations, only information 
collected on Schedule RC-M (with the exception of item 3) are given 
confidential treatment pursuant to Section (b)(4) of the FOIA (5 U.S.C. 
552(b)(4)).
    In addition, the information provided in the Patriot Act Contact 
Information section may be withheld as confidential under FOIA to 
prevent unauthorized individuals from falsely posing as an 
institution's point-of-contact in order to gain access to the highly 
sensitive and confidential communications sent by email between the 
Financial Crimes Enforcement Network or federal law enforcement 
officials and the Patriot Act point-of-contact. The identity and 
contact information of private individuals, which is collected and 
maintained for law enforcement purposes under the Patriot Act, may be 
exempt from disclosure pursuant to exemption 7(C) of FOIA (5 U.S.C. 
552(b)(7)(C)). Lastly, the language indicating that the Emergency 
Contact information will not be released to the public will be removed.
    Abstract: The FR 2886b comprises a balance sheet, income statement, 
two schedules reconciling changes in capital and reserve accounts, and 
11 supporting schedules. The reporting form parallels the Consolidated 
Reports of Condition and Income (Call Report) (FFIEC 031 and FFIEC 041; 
OMB No. 7100-0036) that commercial banks file and the Consolidated 
Financial Statements for Holding Companies (FR Y-9C; OMB No. 7100-0128) 
filed by large holding companies. Except for examination reports, it 
provides the only financial data available for these corporations.
    The Federal Reserve is solely responsible for authorizing, 
supervising, and assigning ratings to Edge and agreement corporations. 
The Federal Reserve uses the data collected on the FR 2886b to identify 
present and potential problems and monitor and develop a better 
understanding of activities within the industry. Most Edge corporations 
are wholly owned by U.S. banks or holding companies and are 
consolidated into the financial statements of their parent 
organizations. However, eight banking Edge corporations are owned by 
foreign banks or nonbanking organizations.

    Board of Governors of the Federal Reserve System, December 3, 
2013.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2013-29507 Filed 12-10-13; 8:45 am]
BILLING CODE 6210-01-P