[Federal Register Volume 84, Number 116 (Monday, June 17, 2019)]
[Notices]
[Pages 28047-28048]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-12680]


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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, without 
revision, the Notice of Proposed Stock Redemption (FR 4008; OMB No. 
7100-0131).

DATES: Comments must be submitted on or before August 16, 2019.

ADDRESSES: You may submit comments, identified by FR 4008, 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 NW (between 18th and 19th Streets 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

[[Page 28048]]

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, 
Without Revision, the Following Information Collection

    Report title: Notice of Proposed Stock Redemption.
    Agency form number: FR 4008.
    OMB control number: 7100-0131.
    Frequency: Event-generated.
    Respondents: Bank holding companies.
    Estimated number of respondents: 8.
    Estimated average hours per response: 15.5 hours.
    Estimated annual burden hours: 124 hours.
    General description of report: The Bank Holding Company Act (BHC 
Act) and Board's Regulation Y require a bank holding company (BHC) to 
seek the prior approval of the Board before purchasing or redeeming its 
equity securities in certain circumstances. Due to the limited 
information that a BHC must provide in connection with any such 
request, there is no required reporting form (the FR 4008 designation 
is for internal purposes only), and each request for prior approval 
must be filed as a notification with the Reserve Bank that has direct 
supervisory responsibility for the requesting BHC. The Federal Reserve 
uses the information provided in the redemption notice to supervise 
BHCs.
    Legal authorization and confidentiality: The FR 4008 is authorized 
pursuant to sections 5(b) and (c) of the BHC Act (12 U.S.C. 1844(b) and 
(c)). Section 5(b) of the BHC Act, as amended by section 616 of the 
Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank 
Act),\1\ generally authorizes the Board to, among other things, issue 
capital regulations that are necessary to administer and carry out the 
purposes of the BHC Act and prevent evasions thereof. Section 5(c) of 
the BHC Act generally authorizes the Board to, among other things, 
require reports from BHCs on a range of issues. The FR 4008 is required 
for some BHCs to obtain the benefit of being able to purchase or redeem 
their equity securities.
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    \1\ Public Law 111-203, 124 Stat. 1376 (2010).
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    Individual respondents may request that data submitted be kept 
confidential on a case-by-case basis. If a respondent requests 
confidential treatment, the Board will determine whether the 
information is entitled to confidential treatment on an ad hoc basis. 
Requests may include information related to the BHC's business 
operations, such as terms and sources of the funding for the redemption 
and pro forma balance sheets. This information may be kept confidential 
under exemption 4 of the Freedom of Information Act, which protects 
privileged or confidential commercial or financial information.\2\
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    \2\ 5 U.S.C. 552(b)(4).

    Board of Governors of the Federal Reserve System, June 11, 2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-12680 Filed 6-14-19; 8:45 am]
 BILLING CODE 6210-01-P