[Federal Register Volume 79, Number 240 (Monday, December 15, 2014)]
[Notices]
[Pages 74088-74091]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-29247]


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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 Acting Clearance 
Officer--John Schmidt--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.
    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 the extension for 
three years, with revision, of the following reports:
    1. Report title: The Government Securities Dealers Reports: Weekly 
Report of Dealer Positions (FR 2004A), Weekly Report of Cumulative 
Dealer Transactions (FR 2004B), Weekly Report of Dealer Financing and 
Fails (FR 2004C), Weekly Report of Specific Issues (FR 2004SI), Daily 
Report of Specific Issues (FR 2004SD), Supplement to the Daily Report 
of Specific Issues (FR 2004SD ad hoc), and Daily Report of Dealer 
Activity in Treasury Financing (FR 2004WI), Settlement Cycle Report of 
Dealer Fails and Transaction Volumes Class A (FR 2004FA), Settlement 
Cycle Report of Dealer Fails and Transaction Volumes Class B (FR 
2004FB), Settlement Cycle Report of Dealer Fails and Transaction 
Volumes Class C (FR 2004FC), Settlement Cycle Report of Dealer Fails 
and Transaction Volumes Class A, B, and C (FR 2004FM).
    Agency form number: FR 2004.
    OMB control number: 7100-0003.
    Effective Date: January 7, 2015.
    Frequency: Weekly, daily, monthly.
    Reporters: Dealers in the U.S. government securities market.
    Estimated annual reporting hours: FR 2004A, 3,432 hours; FR 2004B, 
4,233 hours; FR 2004C, 3,546 hours; FR 2004SI, 2,517 hours; FR 2004SD, 
1,210 hours; FR 2004SD ad hoc, 528 hours; FR 2004WI, 3,520 hours; FR 
2004FA, 264 hours; FR 2004FB, 264 hours; FR 2004FC, 264 hours; FR 
2004FM, 396 hours.
    Estimated average hours per response: FR 2004A, 3.0 hours; FR 
2004B, 3.7 hours; FR 2004C, 3.1 hours; FR 2004SI, 2.2 hours; FR 2004SD, 
2.2 hours; FR 2004SD ad hoc, 2.0 hours; FR 2004WI, 1.0 hour; FR 2004FA, 
1.0 hour; FR 2004FB, 1.0 hour; FR 2004FC, 1.0 hour; FR 2004FM, 1.5 
hours.
    Number of respondents: 22.
    General description of report: This information collection is 
authorized by sections 2A, 12A(c), 14, and 15 of the Federal Reserve 
Act (12 U.S.C. 225a, 263c, 353-359, and 391) and is required to obtain 
or retain the benefit of dealer status. Individual respondent data are 
regarded as confidential under the Freedom of Information Act (5 U.S.C. 
552(b)(4) and (b)(8)).
    Abstract: The FR 2004A collects weekly data on dealers' outright 
positions in Treasury and other marketable debt securities. The FR 
2004B collects cumulative weekly data on the volume of transactions 
made by dealers in the same instruments for which positions are 
reported on the FR 2004A. The FR 2004C collects weekly

[[Page 74089]]

data on the amounts of dealer financing and fails. The FR 2004SI 
collects weekly data on position, transaction, financing, and fails for 
the most recently issued on-the-run Treasury securities (the most 
recently issued Treasury securities for each maturity class). When 
unusual trading practices occur for a specific security, this 
information can be collected on a daily basis on the FR 2004SD for 
either on-the-run Treasury securities or off-the-run Treasury 
securities. The FR 2004SD ad hoc collects up to 10 ad hoc data items 
for instances when critical information for additional Treasury market 
surveillance is required. The FR 2004WI collects daily data on 
positions in to-be-issued Treasury coupon securities, mainly the 
trading on a when-issued delivery basis.
    Current Actions: On September 24, 2014, the Federal Reserve 
published a notice in the Federal Register (79 FR 57101) requesting 
public comment for 60 days on the extension, with revision, of the 
Government Securities Dealers Reports (FR 2004). The comment period for 
this notice expired on November 24, 2014. The Federal Reserve did not 
receive any comments. The revisions will be implemented as proposed.
    2. Report title: Weekly Report of Selected Assets and Liabilities 
of Domestically Chartered Commercial Banks and U.S. Branches and 
Agencies of Foreign Banks.
    Agency form number: FR 2644.
    OMB control number: 7100-0075.
    Effective Date: January 7, 2015.
    Frequency: Weekly.
    Reporters: Domestically chartered commercial banks and U.S. 
branches and agencies of foreign banks.
    Estimated annual reporting hours: 127,400 hours.
    Estimated average hours per response: 2.80 hours.
    Number of respondents: 875.
    General description of report: The FR 2644 is authorized by section 
2A and 11(a)(2) of the Federal Reserve Act (12 U.S.C. 225(a) and 
248(a)(2)) and by section 7(c)(2) of the International Banking Act (12 
U.S.C. 3105(c)(2)) and is voluntary. Individual respondent data are 
regarded as confidential under the Freedom of Information Act (5 U.S.C. 
552(b)(4)).
    Abstract: The FR 2644 is the only source of high-frequency data 
used in the analysis of current banking developments. The FR 2644 
collects sample data that are used to estimate universe levels using 
data from the quarterly commercial bank Consolidated Reports of 
Condition and Income (FFIEC 031 and 041; OMB No. 7100-0036) and the 
Report of Assets and Liabilities of U.S. Branches and Agencies of 
Foreign Banks (FFIEC 002; OMB No. 7100-0032) (Call Reports). Data from 
the FR 2644, together with data from other sources, are used to 
construct weekly estimates of bank credit, balance sheet data for the 
U.S. banking industry, sources and uses of banks' funds, and to analyze 
banking and monetary developments.
    Current Actions: On September 24, 2014, the Federal Reserve 
published a notice in the Federal Register (79 FR 57101) requesting 
public comment for 60 days on the extension, with revision, of the 
Weekly Report of Selected Assets and Liabilities of Domestically 
Chartered Commercial Banks and U.S. Branches and Agencies of Foreign 
Banks (FR 2644). The comment period for this notice expired on November 
24, 2014. The Federal Reserve received a comment letter from a bank 
regarding the proposed revision to the FR 2644. The commenter expressed 
the opinion that the effective date of the revision (January 7, 2015) 
may not be the optimal time to change the report because this would be 
the beginning of the financial reporting season for banks. The 
commenter noted that the proposed revisions to the report would require 
additional work by the respondents for implementation and, because bank 
staff would be involved in producing year-end reports, the accuracy of 
the reported data may be compromised. The commenter suggested that the 
effective date of the revised report should be reconsidered. The 
Federal Reserve recognizes that respondents have additional reporting 
responsibilities at the end-of-quarter and end-of-year periods. In the 
event that respondents anticipate difficulty implementing the changes 
by the effective date, the Federal Reserve would accept estimated data 
until actual data becomes available. In addition, Reserve Bank staff 
would be available to assist respondents with the reporting 
requirements. After careful consideration of the comment letter and 
with the estimated reporting option discussed above, the revisions will 
be implemented as proposed.
    Final approval under OMB delegated authority the extension for 
three years, without revision, of the following reports:
    1. Report title: Quarterly Savings and Loan Holding Company Report.
    Agency form number: FR 2320.
    OMB control number: 7100-0345.
    Frequency: Quarterly.
    Reporters: Top and lower-tier savings and loan holding companies 
(SLHCs).
    Estimated annual reporting hours: 180 hours.
    Estimated average hours per response: 2.5 hours.
    Number of respondents: 18.
    General description of report: This information collection is 
mandatory pursuant to section 10 of the Home Owners' Loan Act (HOLA), 
(12 U.S.C. 1467a(b)(2)) as amended by Pub. L. 111-201, Sec.  369(8). 
Data items C572, C573, and C574 on Schedule H 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 on 
Schedule HC, the Federal Reserve has determined that institutions may 
request confidential treatment for any FR 2320 data item or for all FR 
2320 data items, and confidential treatment will be reviewed on a case-
by-case basis.
    Abstract: The FR 2320 collects select parent only and consolidated 
balance sheet and income statement financial data and organizational 
structure data from savings and loan holding companies (SLHCs) exempt 
from initially filing Federal Reserve regulatory reports. The FR 2320 
is used by the Federal Reserve to analyze the overall financial 
condition of exempt SLHCs to ensure safe and sound operations. These 
data 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.
    Current Actions: On September 24, 2014, the Federal Reserve 
published a notice in the Federal Register (79 FR 57101) requesting 
public comment for 60 days on the extension, without revision, for this 
information collection. The comment period for this notice expired on 
November 24, 2014. The Federal Reserve did not receive any comments. 
The information collection will be extended as proposed.
    2. Report title: Notifications Related to Community Development and 
Public Welfare Investments of State Member Banks.
    Agency form number: FR H-6.
    OMB control number: 7100-0278.
    Frequency: Event-generated.
    Reporters: State member banks.
    Estimated annual reporting hours: 182.
    Estimated average hours per response: Post Notification, 2 hours; 
Application (Prior Approval) 5 hours; and Extension of divestiture 
period, 5 hours.
    Number of respondents: Post Notification, 16; Application (Prior 
Approval), 29; and Extension of divestiture period, 1.
    General description of report: This information collection is 
authorized by the Federal Reserve Act, 12 U.S.C. 338a, and by the 
Board's Regulation H, 12 CFR 208.22. The obligation of state member 
banks to make public welfare

[[Page 74090]]

investments under both the Reserve Bank post-notice and the Board's 
prior approval procedure is mandatory. The request for extension of the 
divestiture period is required to obtain a benefit. Individual 
respondent data generally are not regarded as confidential. However, a 
bank that submits confidential proprietary information may request 
confidential treatment of that information pursuant to section (b)(4) 
of the Freedom of Information Act (FOIA), 5 U.S.C. 552(b)(4), and the 
information will be accorded confidential treatment if the institution 
can establish the potential for substantial competitive harm under the 
standards set forth in National Park & Conservation Ass'n v. Morton, 
498 F.2d 765 (DC Cir. 1974). Such a determination would be made on a 
case-by-case in response to a specific request for disclosure. If 
examination rations are included in a submission, those will be 
considered confidential under exemption 8 of the FOIA, 5 U.S.C. 
552(b)(8).
    Abstract: Regulation H requires state member banks planning to make 
community development or public welfare investments to comply with the 
Regulation H notification requirements: (1) If the investment does not 
require prior Board approval, a written notice must be sent to the 
appropriate Federal Reserve Bank; (2) if certain criteria are not met, 
and requires prior Board approval, a request for approval must be sent 
to the appropriate Federal Reserve Bank; and, (3) if the Board orders 
divestiture, but the bank cannot divest within the established time 
limit, a request or requests for extension of the divestiture period 
must be submitted to the appropriate Federal Reserve Bank.
    Current Actions: On September 24, 2014, the Federal Reserve 
published a notice in the Federal Register (79 FR 57101) requesting 
public comment for 60 days on the extension, without revision, for this 
information collection. The comment period for this notice expired on 
November 24, 2014. The Federal Reserve did not receive any comments. 
The information collection will be extended as proposed.
    3. Report title: International Applications and Prior Notifications 
under Subparts A and C of Regulation K.
    Agency form number: FR K-1.
    OMB control number: 7100-0107.
    Frequency: Event-generated.
    Reporters: State member banks, national banks, bank holding 
companies, Edge and agreement corporations, and certain foreign banking 
organizations.
    Annual reporting hours: 1,013 hours.
    Estimated average hours per response: Attachments A and B, 11.5 
hours; Attachments C through G, 10 hours; Attachments H and I, 15.5 
hours; Attachment J, 10 hours; Attachment K, 20 hours.
    Number of respondents: 35.
    General description of report: This information collection is 
mandatory (12 U.S.C. 601-604(a), 611-631, 1843(c)(13), 1843(c)(14), and 
1844(c)) and is not given confidential treatment. The information 
submitted in the FR K-1 is considered to be public unless an 
institution requests confidential treatment for portions of the 
particular application or notification. Applicants may rely on any 
Freedom of Information Act (FOIA) exemption, but such requests for 
confidentiality must contain detailed justifications corresponding to 
the claimed FOIA exemption. Requests for confidentiality must be 
evaluated on a case-by-case basis.
    Abstract: Subpart A of Regulation K governs the foreign investments 
and activities of member banks, Edge and agreement corporations, bank 
holding companies (BHCs), and certain investments by foreign 
organizations. Subpart C of Regulation K governs investments in export 
trading companies. The FR K-1 information collection contains eleven 
attachments for the application and notification requirements embodied 
in Subparts A and C of Regulation K. The Federal Reserve requires these 
applications for regulatory and supervisory purposes and to allow the 
Federal Reserve to fulfill its statutory obligations under the Federal 
Reserve Act and the Bank Holding Company Act of 1956. The applications 
are event-generated and provide the Federal Reserve with information 
necessary to evaluate each of the proposed transactions.
    Current Actions: On September 24, 2014, the Federal Reserve 
published a notice in the Federal Register (79 FR 57101) requesting 
public comment for 60 days on the extension, without revision, for this 
information collection. The comment period for this notice expired on 
November 24, 2014. The Federal Reserve did not receive any comments. 
The information collection will be extended as proposed.
    4. 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: 490 hours.
    Estimated average hours per response: 35 hours.
    Number of respondents: 14.
    General description of report: This information collection is 
mandatory (12 U.S.C. 3105, 3107, and 3108). The applying or notifying 
organization may request that portions of the information contained in 
the FR K-2 be afforded confidential treatment. To do so, applicants 
must demonstrate how the information for which confidentiality is 
requested would fall within the scope of one or more of the exemptions 
contained in the Freedom of Information Act. Any such request would 
have to be evaluated on a case-by-case basis.
    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 September 24, 2014, the Federal Reserve 
published a notice in the Federal Register (79 FR 57101) requesting 
public comment for 60 days on the extension, without revision, for this 
information collection. The comment period for this notice expired on 
November 24, 2014. The Federal Reserve did not receive any comments. 
The information collection will be extended as proposed.
    5. Report title: Application for Prior Approval to Become a Bank 
Holding Company, or for a Bank Holding Company to Acquire an Additional 
Bank or Bank Holding Company; Notice for Prior Approval to Become a 
Bank Holding Company, or for a Bank Holding Company to Acquire an 
Additional Bank or Bank Holding Company; and Notification for Prior 
Approval to Engage Directly or Indirectly in Certain Nonbanking 
Activities.
    Agency form numbers: FR Y-3, FR Y-3N, and FR Y-4.
    OMB control number: 7100-0121.
    Frequency: Event-generated.
    Reporters: Corporations seeking to become bank holding companies 
(BHCs), or BHCs and state chartered banks that are members of the 
Federal Reserve System.
    Annual reporting hours: 11,924 hours.
    Estimated average hours per response: FR Y-3, Section 3(a)(1): 49 
hours; FR Y-3, Section 3(a)(3) and 3(a)(5): 59.5 hours; FR Y-3N, 
Sections 3(a)(1), 3(a)(3), and 3(a)(5): 5 hours; FR Y-4, complete 
notification: 12 hours; FR Y-4,

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expedited notification: 5 hours; and FR Y-4, post-consummation: 0.5 
hours.
    Number of respondents: 279.
    General description of reports: The FR Y-3 application and FR Y-3N 
notification are mandatory (12 U.S.C. 1842(a), 1844(b), and 
1843(j)(1)(b)). The FR Y-4 notification is mandatory (12 U.S.C. 
1843(j)(1)(b)). These information collections are not given 
confidential treatment. Applicants may rely on any Freedom of 
Information Act (FOIA) exemption, but such requests for confidentiality 
must contain detailed justifications corresponding to the claimed FOIA 
exemption. Requests for confidentiality must be evaluated on a case-by-
case basis.
    Abstract: The Federal Reserve requires the submission of these 
filings for regulatory and supervisory purposes and to allow the 
Federal Reserve to fulfill its statutory obligations under the Bank 
Holding Company Act of 1956 (the BHC Act). These filings collect 
information on proposals by BHCs involving formations, acquisitions, 
mergers, and nonbanking activities. The Federal Reserve must obtain 
this information to evaluate each individual transaction with respect 
to financial and managerial factors, permissibility, competitive 
effects, net public benefits, and the impact on the convenience and 
needs of affected communities.
    Current Actions: On September 24, 2014, the Federal Reserve 
published a notice in the Federal Register (79 FR 57101) requesting 
public comment for 60 days on the extension, without revision, for 
these information collections. The comment period for this notice 
expired on November 24, 2014. The Federal Reserve did not receive any 
comments. The information collection will be extended as proposed.
    6. 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: 440 hours.
    Estimated average hours per response: Initial application, 90 
hours; subsequent application, 70 hours.
    Number of respondents: Initial application, 1; subsequent 
application, 5.
    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. 
The instructions convey the confidentiality requirements to applicants.
    Abstract: Under the Bank Holding Company Act (BHCA), 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 September 24, 2014, the Federal Reserve 
published a notice in the Federal Register (79 FR 57101) requesting 
public comment for 60 days on the extension, without revision, for this 
information collection. The comment period for this notice expired on 
November 24, 2014. The Federal Reserve did not receive any comments. 
The information collection will be extended as proposed.

    Board of Governors of the Federal Reserve System, December 9, 
2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014-29247 Filed 12-12-14; 8:45 am]
BILLING CODE 6210-01-P