[Federal Register Volume 83, Number 140 (Friday, July 20, 2018)]
[Notices]
[Pages 34578-34579]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-15518]


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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: The Board of Governors of the Federal Reserve System (Board) 
is adopting 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 revisions are 
applicable as of July 31, 2018.

FOR FURTHER INFORMATION CONTACT: 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.
    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.

SUPPLEMENTARY INFORMATION: 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. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved

[[Page 34579]]

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 Board 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.

Final Approval Under OMB Delegated Authority of 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.
    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.
    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.
    Current actions: On March 23, 2018, the Board published a notice in 
the Federal Register (83 FR 12761) requesting public comment for 60 
days on the extension, with revision, of the FR K-1. The Board proposed 
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. The 
comment period for this notice expired on May 22, 2018. The Board did 
not receive any comments. Accordingly, the revisions will be 
implemented as proposed.
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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).

    Board of Governors of the Federal Reserve System, July 17, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-15518 Filed 7-19-18; 8:45 am]
 BILLING CODE 6210-01-P