[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