[Federal Register Volume 83, Number 57 (Friday, March 23, 2018)]
[Notices]
[Pages 12761-12762]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-05957]


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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) 
invites comment on a proposal to extend for three years, with revision, 
the International Applications and Prior Notifications under Subparts A 
and C of Regulation K (FR K-1; OMB No. 7100-0107). The Board proposes 
to revise the FR K-1 form and instructions primarily to make minor 
changes for improved style, grammar, and clarity, and to align the 
general information, certification, and confidentiality sections with 
other similar forms. No changes have been made to the information 
required in various attachments.

DATES: Comments must be submitted on or before May 22, 2018.

ADDRESSES: You may submit comments, identified by FR K-1, by any of the 
following methods:
     Agency website: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     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 website 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 Paperwork Reduction Act 
(PRA) OMB submission, including the proposed reporting form and 
instructions, supporting statement, and other documentation will be 
placed into OMB's public docket files, if approved. These documents 
will also be made available on the Federal Reserve Board's public 
website 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: On June 15, 1984, the Office of Management 
and Budget (OMB) delegated to the Board authority under the 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.

Request for Comment on Information Collection Proposal

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

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

    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: On occasion.

[[Page 12762]]

    Respondents: Member banks, Edge and agreement corporations, bank 
holding companies (BHCs), and foreign organizations.
    Estimated number of respondents: Attachments A and B, 5; 
Attachments C through G, 15; Attachments H and I, 12; Attachment J, 2; 
Attachment K, 1.
    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.
    Estimated annual burden hours: 1,013 hours.
    General description of collection: Subpart A of the Board's 
Regulation K governs the foreign investments and activities of member 
banks, Edge and agreement corporations, 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 Board requires these 
applications for regulatory and supervisory purposes and to allow the 
Board 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.
    Proposed revisions: The Board proposes to revise the FR K-1 form 
and instructions primarily to make minor changes for improved style, 
grammar, and clarity, and to align the general information, 
certification, and confidentiality sections with other similar 
forms.\1\ In addition, a statement has been added indicating that the 
Board prefers that applicants/notificants electronically submit the 
application/notification and that a pre-filing option is available. No 
changes have been made to the information required in the various 
attachments to the FR K-1 form.
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    \1\ Bank Holding Company Application and Notification Forms (FR 
Y-3, FR Y-3N, and FR Y-4; OMB No. 7100-0121), the International 
Applications and Prior Notifications Under Subpart B of Regulation K 
(FR K-2; OMB No. 7100-0284), and the Application for a Foreign 
Organization to Acquire a U.S. Bank or Bank Holding Company (FR Y-
3F; OMB No. 7100-0119).
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    Legal authorization and confidentiality: This information 
collection is mandatory and collected pursuant to sections 25 and 25A 
of the Federal Reserve Act (12 U.S.C. 601-604(a), 611-631), and 
sections 4(c)(13), 4(c)(14), and 5(c) of the Bank Holding Company Act 
(12 U.S.C. 1843(c)(13), 1843(c)(14), 1844(c)). 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. Any requests for confidentiality will be 
evaluated on a case-by-case basis.
    Effective date: July 31, 2018.

    Board of Governors of the Federal Reserve System, March 20, 
2018.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2018-05957 Filed 3-22-18; 8:45 am]
BILLING CODE 6210-01-P