[Federal Register Volume 84, Number 109 (Thursday, June 6, 2019)]
[Notices]
[Pages 26415-26417]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-11795]


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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 Federal Reserve Membership Applications and the Federal Reserve 
Bank Stock Applications (FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, 
FR 2087, FR 2083, FR 2083A, FR 2083B, and FR 2083C; OMB Nos. 7100-0042 
and 7100-0046).

DATES: Comments must be submitted on or before August 5, 2019.

[[Page 26416]]


ADDRESSES: You may submit comments, identified by FR 2030, FR 2030a, FR 
2056, FR 2086, FR 2086a, FR 2087, FR 2083, FR 2083A, FR 2083B, or FR 
2083C, 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 on 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 
146, 1709 New York Avenue NW, Washington, DC 20006, between 9:00 a.m. 
and 5:00 p.m. on weekdays. For security reasons, the Board requires 
that visitors make an appointment to inspect comments. You may do so by 
calling (202) 452-3684. Upon arrival, visitors will be required to 
present valid government-issued photo identification and to submit to 
security screening in order to inspect and photocopy comments.
    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, if approved. These documents will also be made available 
on the 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 Paperwork 
Reduction Act (PRA) to approve 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 Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board'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 Board 
should modify the proposal.

Proposal Under OMB Delegated Authority To Extend for Three Years, With 
Revision, the Following Information Collections

    Report titles: Federal Reserve Bank Stock Applications.
    Agency form numbers: FR 2030; FR 2030a; FR 2056; FR 2086; FR 2086a; 
FR 2087.
    OMB control number: 7100-0042.
    Frequency: On occasion.
    Respondents: New national banks, non-member state banks converting 
into national banks, member banks, and member banks converting into or 
merging into member or nonmember banks.
    Estimated number of respondents: FR 2030, 4; FR 2030a, 7; FR 2056, 
1,068; FR 2086, 10; FR 2086a, 86; FR 2087, 1.
    Estimated average hours per response: 0.5.
    Estimated annual burden hours: FR 2030, 2; FR 2030a, 3.5; FR 2056, 
534; FR 2086, 5; FR 2086a, 43; FR 2087, 0.5.
    General description of report: Any national bank wanting to 
purchase stock in the Federal Reserve System, any member bank wanting 
to increase or decrease its Federal Reserve Bank stock holdings, or any 
bank wanting to cancel its stock holdings must file an application with 
the appropriate Federal Reserve Bank. The application forms for the 
initial subscription of Federal Reserve Bank stock filed by organizing 
national banks and nonmember state banks converting to national banks 
(FR 2030 and 2030a, respectively) and the application forms for the 
cancellation of Federal Reserve Bank stock filed by liquidating member 
banks, member banks merging or consolidating with nonmember banks, and 
insolvent member banks (FR 2086, FR 2086a, and FR 2087, respectively) 
require one or more of the following: A resolution by the applying 
bank's board of directors authorizing the transaction, an indication of 
the capital and surplus of the bank as of the date of application, a 
certification (by official signatures) of the resolution, and/or an 
indication of the number of shares and dollar amount of the Federal 
Reserve Bank stock to be purchased or cancelled.
    The application form for an interim adjustment in a member bank's 
holdings of Federal Reserve Bank stock (FR 2056) requires an indication 
of the capital and surplus of the bank as of the date of application 
and an indication of the number of shares held and the number of shares 
to be acquired or canceled.
    A completed application form must be submitted for each required 
adjustment. Any member bank must use the FR 2056 to correct a 
discrepancy between the amount of Federal Reserve Bank stock required 
to be held and the amount actually held by the member bank. The latter 
is determined by the Reserve Bank through its monitoring of the bank's 
capital accounts reported quarterly on the Consolidated Reports of 
Condition and Income (Call Report) (FFIEC 031, FFIEC 041, and FFIEC 
051; OMB No. 7100-0036). The Federal Reserve Bank stock applications 
are distributed by the Federal Reserve

[[Page 26417]]

Banks and the information collected enables them to account for 
required subscription, adjustment, or cancellation payments to and from 
the System and for dividends paid by the System on any outstanding 
stock.
    Report title: Federal Reserve Membership Application.
    Agency form number: FR 2083/A/B/C.
    OMB control number: 7100-0046.
    Frequency: On occasion.
    Respondents: Member banks converting into or merging into member or 
non-member banks.
    Estimated number of respondents: 16.
    Estimated average hours per response: 4.
    Estimated annual burden hours: 64.
    General description of report: The four individual application 
forms in the FR 2083 series (membership application and relevant 
attachments) are all one-time submissions that are used by organizing 
(new) or existing state-chartered banks to apply for membership in the 
Federal Reserve System. The FR 2083 contains a cover sheet, with 
general information and instructions detailing the information to be 
submitted according to the type of applicant bank. The FR 2083A is the 
application form for the purchase of Federal Reserve Bank stock by 
state banks (except mutual savings banks) and by national banks 
converting into state member banks. The FR 2083B is the application 
form for the purchase of Federal Reserve Bank stock by mutual savings 
banks. The FR 2083C is the Certificate of Organizers or Directors 
certifying that the information being submitted is true and complete, 
and the proposed capital is not impaired.
    Proposed revisions: The Board is proposing to revise the FR 2030, 
FR 2030a, FR 2056, FR 2083A, FR 2083B, FR 2086, FR 2086A, FR 2087 with 
the following updates: (1) Require the bank to include their American 
Bankers Association (ABA) number on page one (FR 2030, FR 2030A, FR 
2056, FR 2083A, and FR 2083B); (2) include the Chief Financial Officer 
(CFO) as an authorized signer (FR 2030, FR 2030A, FR 2056, FR 2083A, FR 
2083B, FR 2086, and FR 2086A); (3) remove the SEAL and/or notarization 
requirement to allow for electronic retention of documentation (FR 
2030, FR 2030A, FR 2056, FR 2083A, FR 2083B, and FR 2087); (4) include 
a note requiring that the signer of the form be included on the bank's 
Official Authorization List that is on file with the Federal Reserve 
(FR 2030, 2030A, FR 2056, 2083A, FR 2083B, and FR 2086A); (5) collect 
an additional data point ``Less: retained earnings and accumulated 
other comprehensive income if such combined amount is negative'' on 
page one (FR 2030, FR 2030a, similar to the FR 2056); (6) on page one 
of FR 2056: (a) Place a box around the area where member banks enter 
their Common stock, Paid-in surplus and NRE figures (if applicable) and 
place a bolded ``Member banks'' identifier at top left, (b) place 
member bank and mutual savings bank calculations separated from each 
other in order to alleviate each type of institution from using both 
areas, and (c) insert the statement to, ``round up only'' to footnote 
3. The Board is not proposing any revision to the FR 2083 and FR 2083C 
forms as part of this process.
    Legal authorization and confidentiality: The Federal Reserve 
Membership Application is authorized by Section 9 of the Federal 
Reserve Act (FRA) (12 U.S.C. 321, 322, 323, 329, and 333). The Federal 
Reserve Bank Stock Applications are authorized pursuant to Sections 9 
(12 U.S.C. 321) and 11(a) of the FRA (12 U.S.C. 248(a)). Additionally, 
the FR 2030 and FR 2030a are specifically authorized by Section 2 of 
the FRA (12 U.S.C. 222 and 282); the FR 2056, FR 2086, and FR 2086a are 
authorized by Section 5 of the FRA (12 U.S.C. 287); and the FR 2087 is 
authorized by Section 6 of the FRA (12 U.S.C. 288).
    The FR 2083 is required to obtain a benefit, while the FR 2030, FR 
2030a, FR 2056, FR 2086, FR 2086a, and FR 2087 are mandatory. 
Individual respondents may request that information submitted to the 
Board in these applications be kept confidential on a case-by-case 
basis. Such applications may contain information related the business 
plans of the respondent. Under certain circumstances, this information 
may be withheld under exemption 4 of the Freedom of Information Act 
(FOIA), which protects privileged or confidential commercial or 
financial information (5 U.S.C. 552(b)(4)). These applications may also 
contain information of a personal nature the disclosure of which would 
result in a clearly unwarranted invasion of personal privacy, which may 
be protected under exemption 6 of the FOIA (5 U.S.C. 552(b)(6)). 
Additionally, exemption 8 of the FOIA (5 U.S.C. 552(b)(8)) may apply to 
the extent the reported information is contained in or related to 
examination reports.

    Board of Governors of the Federal Reserve System, May 31, 2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-11795 Filed 6-5-19; 8:45 am]
 BILLING CODE 6210-01-P