[Federal Register Volume 79, Number 117 (Wednesday, June 18, 2014)]
[Pages 34753-34754]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-14209]



Proposed Agency Information Collection Activities; Comment 

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 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 August 18, 2014.

ADDRESSES: You may submit comments, identified by FR Y-7Q, 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.

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.


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 
    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 Revision of the 
Following Report

    Report title: Capital and Asset Report for Foreign Banking 
    Agency form number: FR Y-7Q.
    OMB control number: 7100-0125.\1\

    \1\ Also included in this family of reports are the following 
reports, which are not being revised: the Financial Statements of 
U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (FR 
Y-7N) and the Abbreviated Financial Statements of U.S. Nonbank 
Subsidiaries Held by Foreign Banking Organizations (FR Y-7NS).

    Frequency: Quarterly and annually.
    Reporters: Foreign Banking Organizations (FBOs).
    Estimated annual reporting hours: FR Y-7Q (quarterly): 763 hours; 
FR Y-7Q (annually): 65 hours.
    Estimated average hours per response: FR Y-7Q (quarterly): 1.75 
hours; FR Y-7Q (annually): 1.5 hours.
    Number of respondents: FR Y-7Q (quarterly): 109; FR Y-7Q 
(annually): 43.
    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 sections 8(c) and 13 of the International Banking 
Act (12 U.S.C. 3106(c) and 3108)). Overall, the Federal Reserve does 
not consider these data to be confidential. However, individual 
respondents may request confidential

[[Page 34754]]

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. The FR Y-7Q is 
filed quarterly by FBOs that have effectively elected to become 
financial holding companies (FHCs) and by FBOs that have total 
consolidated assets of $50 billion or more, regardless of FHC status. 
All other FBOs file the FR Y-7Q annually.
    Current Actions: The Federal Reserve proposes to collect one new 
data item to implement the enhanced prudential standards for FBOs 
adopted pursuant to section 165 of the Dodd-Frank Act (DFA Section 
165), Enhanced Prudential Standards for Large Domestic and Foreign 
Banking Organizations. The new data item, Total U.S. Non-Branch Assets, 
would be used to determine whether an FBO meets the threshold for 
formation of a U.S. intermediate holding company. This item would 
collect the sum of the total combined assets of a top-tier FBO's top-
tier U.S. domiciled affiliates.\2\ In situations where a top-tier U.S. 
domiciled affiliate is a parent of one or more subsidiaries, the total 
consolidated assets of the affiliate would include the assets of the 
affiliate and its subsidiaries, in accordance with U.S. Generally 
Accepted Accounting Principles (GAAP), and the total consolidated 
assets (or total assets, as applicable) of each top-tier U.S. domiciled 
affiliate should be combined. In situations where a top-tier U.S. 
domiciled subsidiary is not consolidated with the FBO for GAAP 
purposes, that entity shall be accounted for under the equity method 
and the sum of the amount of the investments should be included in the 
sum of the total combined assets of top-tier U.S. domiciled affiliates. 
The sum of the total combined assets of top-tier U.S. domiciled 
affiliates reported by a top-tier FBO should exclude intercompany 
balances and intercompany transactions between the FBO's U.S. domiciled 
affiliates to the extent such items are not already eliminated in 
consolidation. However, the sum of the total combined assets of top-
tier U.S. domiciled affiliates reported by a top-tier FBO should 
include asset exposures to U.S. branches, or agencies of the FBO and to 
non U.S. domiciled affiliates\3\.

    \2\ Total combined assets of the top-tier FBO's U.S. domiciled 
affiliates should exclude the assets of section 2(h)(2) companies as 
defined in section 2(h)2 of the Bank Holding Company Act (12 U.S.C. 
1841(h)(2)) and DPC branch subsidiaries. This item excludes the 
assets of U.S. branches and agencies.
    \3\ In cases where the non U.S. Domiciled affiliate is already 
consolidated with a Top Tier U.S. Domiciled affiliate these 
exposures are excluded.

    U.S. domiciled affiliate is defined as a subsidiary, an associated 
company, or an entity treated as an associated company (e.g., a 
corporate joint venture) as set forth in the instructions for the 
Consolidated Financial Statements for Holding Companies (FR Y-9C;OMB 
No. 7100-0128). The proposed revision would be effective December 31, 

    Board of Governors of the Federal Reserve System, June 12, 2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014-14209 Filed 6-17-14; 8:45 am]