[Federal Register Volume 82, Number 136 (Tuesday, July 18, 2017)]
[Notices]
[Pages 32812-32814]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-15045]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board or 
Federal Reserve) invites comment on a proposal to extend for three 
years, with revision, the Consolidated Financial Statements for Holding 
Companies (FR Y-9C) (OMB No. 7100-0128), the Parent Company Only 
Financial Statements for Large Holding Companies (FR Y-9LP) OMB No. 
7100-0128), the Parent Company Only Financial Statements for Small 
Holding Companies FR Y-9SP) (OMB No. 7100-0128), the Financial 
Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking 
Organizations (FR Y-7N) (OMB No. 7100-0125), and the Consolidated 
Report of Condition and Income for Edge and Agreement Corporations (FR 
2886b) (OMB No. 7100-0086).
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board authority under the Paperwork Reduction Act 
(PRA) to approve of and assign OMB control numbers to collection of 
information requests and requirements conducted or sponsored by the 
Board. In exercising this delegated authority, the Board is directed to 
take every reasonable step to solicit comment. In determining whether 
to approve a collection of information, the Board will consider all 
comments received from the public and other agencies.

DATES: Comments must be submitted on or before September 18, 2017.

ADDRESSES: You may submit comments, identified by FR Y-9C, FR Y-9LP, FR 
Y-9SP, FR Y-7N, 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: Ann E. Misback, 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 
3515, 1801 K Street (between 18th and 19th Streets NW.) Washington, DC 
20006 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--Nuha Elmaghrabi--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(s)

    The Board invites public comment on the following information 
collection, which is being reviewed under

[[Page 32813]]

authority delegated by the OMB under the PRA. 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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Federal 
Reserve should modify the proposed revisions prior to giving final 
approval.

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

    1. Consolidated Financial Statements for Holding Companies, Parent 
Company Only Financial Statements for Large Holding Companies, Parent 
Company Only Financial Statements for Small Holding Companies, 
Financial Statement for Employee Stock Ownership Plan Holding 
Companies, and the Supplemental to the Consolidated Financial 
Statements for Holding Companies.
    Agency form number: FR Y-9C, FR Y-9LP, FR Y-9SP, FR Y-9ES, and FR 
Y-9CS.
    OMB control number: 7100-0128.
    Frequency: Quarterly and semiannually.
    Reporters: Bank holding companies (BHCs), savings and loan holding 
companies (SLHCs), securities holding companies (SHCs), and U.S. 
Intermediate Holding Companies (IHCs) (collectively, holding companies 
(HCs)).
    Estimated annual reporting hours: FR Y-9C (non advanced approaches 
holding companies): 123,636 hours; FR Y-9C (advanced approached holding 
companies): 3,628 hours; FR Y-9LP: 16,400 hours; FR Y-9SP: 42,811; FR 
Y-9ES: 42 hours; FR Y-9CS: 472 hours.
    Estimated average hours per response: FR Y-9C (non advanced 
approaches holding companies): 49.14 hours; FR Y-9C (advanced 
approached holding companies HCs): 50.39 hours; FR Y-9LP: 5.27 hours; 
FR Y-9SP: 5.40 hours FR Y-9ES: 0.50 hours; FR Y-9CS: 0.50 hours.
    Number of respondents: FR Y-9C (non advanced approaches holding 
companies): 629; FR Y-9C (advanced approached holding companies): 18; 
FR Y-9LP: 778; FR Y-9SP: 3,964 FR Y-9ES: 83; FR Y-9CS: 236.
    General description of report: Pursuant to the Bank Holding Company 
Act of 1956 (BHC Act), as amended, and the Home Owners' Loan Act 
(HOLA), the Federal Reserve requires HCs to provide standardized 
financial statements to fulfill the Federal Reserve's statutory 
obligation to supervise these organizations. HCs file the FRY-9C and FR 
Y-9LP quarterly, and the FR Y-9SP semiannually, the FR Y-9ES annually, 
and the FR Y-9CS on a schedule that is determined when this supplement 
is used.
    Proposed revisions: The Federal Reserve proposes to implement a 
number of revisions to the FR Y-9C reporting requirements most of which 
are consistent with changes to the Call Report (which were effective 
March 31, 2017).\1\ Additionally, the Federal Reserve proposes to 
eliminate the concept of extraordinary items on various reports, add 
one new item to the FR Y-9SP report, and revise the instructions to 
clarify the reporting of certain tax benefits on various reports. These 
changes would be effective for reports submitted on or after October 1, 
2017, beginning with the reports reflecting the September 30, 2017 
report date. The proposed changes include:
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    \1\ The reporting changes to the FFIEC 031 and FFIEC 041 are 
effective March 31, 2017. Final comment period ended 2/7/2017. See 
82 FR 2444 (January 9, 2017). Certain data items deleted on the 
FFIEC 031 and FFIEC 041 do not correspond to any FR Y-9C data items. 
Also, certain data items were deleted from the FFIEC 041 report 
because the data is predominantly reported by banks with foreign 
offices (FFIEC 031), but remains on the FR Y-9C since no distinction 
is made for reporting of HCs with foreign offices versus those 
without foreign offices.
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     Deleting of existing data items from Schedule HI-B, Part I 
Charge-Offs and Recoveries on Loans and Leases and Changes in Allowance 
for Loans and Lease Losses, of the FR Y-9C report that pertain to 
charge-offs and recoveries on loans to U.S. banks and foreign banks.
     Deleting of existing data items from Schedule HC-M, 
Memoranda, and Schedule HC-N, Past Due and Nonaccrual Loans, and Leases 
and Other Assets of the FR Y-9C that pertain to certain loans covered 
by loss-sharing agreements with the FDIC.
     Increasing one reporting threshold and adding one new 
reporting threshold on the FR Y-9C for certain data items on Schedule 
HI, Consolidated Income Statement.
     Eliminating extraordinary items on the FR Y-9LP, FR Y-7N 
and FR 2886b.
     Revising data items for the reclassification of certain 
tax benefits on the FR Y-9C, FR Y-9LP, FR Y-7N, and FR 2886b.
     Adding one new data item to Schedule SI of the FR Y-9SP to 
collect information pertaining to discontinued operations.
     Revising one control total and adding two control totals 
on Schedule HC-C and HC-N of the FR Y-9C report.
     Revising captions and instructions to replace ``Loans net 
of unearned income'' with ``Loans held for investment'' across all 
applicable regulatory reports.
    Legal authorization and confidentiality: The Board's Legal Division 
has determined that the FR Y-9 family of reports is authorized by 
section 5(c) of the Bank Holding Company Act (12 U.S.C. 1844(c)), 
section 10 of Home Owners' Loan Act (12 U.S.C. 1467a(b)), 12 U.S.C. 
1850a(c)(1), section 165 of the Dodd-Frank Act (12 U.S.C. 5365), and 
section 252.153(b)(2) of Regulation YY (12 CFR 252.153(b)(2)). The 
obligation of covered institutions to report this information is 
mandatory. In general, the Board does not consider the financial data 
in these reports 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), and 
(b)(8)). The applicability of these exemptions would need to be 
reviewed on a case by case basis.
    2. Report title: The Financial Statements of U.S. Nonbank 
Subsidiaries Held by Foreign Banking Organizations, Abbreviated 
Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign 
Banking Organizations, and the Capital and Asset Report of Foreign 
Banking Organizations.
    Agency form number: FR Y-7N, FR Y-7NS, and FR Y-7Q.
    OMB control number: 7100-0125.
    Frequency: Quarterly and annually.
    Reporters: Foreign bank organizations (FBOs).
    Estimated annual reporting hours: FR Y-7N (quarterly): 1,360; FR Y-
7N (annual): 313; FR Y-7NS: 66; FR Y-7Q (quarterly): 1,644; FR Y-7Q 
(annual): 48.
    Estimated average hours per response: FR Y-7N (quarterly): 6.8; FR 
Y-7N (annual): 6.8; FR Y-7NS: 1.0 FR Y-7Q (quarterly): 3.00; FR Y-7Q 
(annual): 1.5.

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    Number of respondents: FR Y-7N (annual): 50; FR Y-7N (annual): 46; 
FR Y-7NS: 66; FR Y-7Q (quarterly): 137; FR Y-7Q (annual): 32.
    General description of report: 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 BHC, IHC 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. 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 or be treated as a U.S. financial holding 
company (FHC) 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.
    Proposed revisions: The Federal Reserve proposes to revise the 
report form and instructions for the FR Y-7N to eliminate the concept 
of extraordinary items to be consistent with Accounting Standards 
Update (ASU) 2015-01, reclassify and clarify the reporting for certain 
tax benefits, and replace report form captions and instructions 
referencing ``Loans net of unearned income'' with ``Loans held for 
investment,'' effective for reports submitted on or after October 1, 
2017, beginning with the reports reflecting the September 30, 2017 
report date.
    Legal authorization and confidentiality: The Board's Legal Division 
has determined that the FR Y-7N, FR Y-7NS, and FR Y-7Q are authorized 
by 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). Section 165 of the Dodd-Frank Act (12 U.S.C. 5365) 
directs the Board to establish enhanced prudential standards for 
certain companies, including certain FBOs. The obligation of covered 
institutions to report this information is mandatory. In general, the 
Board does not consider the financial data in these reports 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), and (b)(8)). The 
applicability of these exemptions would need to be reviewed on a case 
by case basis.
    3. 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): 922; Investment: Edge and agreement corporations 
(annually): 86.
    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): 24; 
Investment: Edge and agreement corporations (annually): 9.
    General description of report: The FR 2886b reporting form is filed 
quarterly and annually by banking Edge and agreement corporations and 
investment (nonbanking) Edge and agreement corporations (collectively, 
``Edges or Edge corporations''). The mandatory FR 2886b comprises an 
income statement with two schedules reconciling changes in capital and 
reserve accounts and a balance sheet with 11 supporting schedules. 
Other than 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 
Edges. 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.
    Proposed revisions: The Federal Reserve proposes to revise the 
report form and instructions to eliminate the concept of extraordinary 
items to be consistent with Accounting Standards Update (ASU) 2015-01, 
reclassify and clarify the reporting for certain tax benefits in the 
reporting instructions, and replace report form captions and 
instructions referencing ``Loans net of unearned income'' with ``Loans 
held for investment,'' effective for reports submitted on or after 
October 1, 2017, beginning with the reports reflecting the September 
30, 2017 report date.
    Legal authorization and confidentiality: The Board's Legal Division 
has determined that Sections 25 and 25A of the Federal Reserve Act 
authorize the Federal Reserve to collect the FR 2886b (12 U.S.C. 602, 
625). The obligation of covered institutions to report this information 
is mandatory. The information collected on this report is generally not 
considered confidential. However, information provided on Schedule RC-M 
(with the exception for item 3) and on Schedule RC-V, both of which 
pertain to claims on and liabilities to related organizations, may be 
exempt from disclosure pursuant to exemption (b)(4) of the Freedom of 
Information Act, (5 U.S.C. 552(b)(4)). The information provided in the 
Patriot Act Contact Information section of the reporting form may be 
exempt from disclosure pursuant to exemption (b)(7)(C) of the Freedom 
of Information Act (5 U.S.C. 552(b)(7)(C)).

    Board of Governors of the Federal Reserve System, July 13, 2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-15045 Filed 7-17-17; 8:45 am]
 BILLING CODE 6210-01-P