[Federal Register Volume 84, Number 175 (Tuesday, September 10, 2019)]
[Notices]
[Pages 47513-47514]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19519]


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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 
Federal Reserve Bank Stock Applications and the Federal Reserve 
Membership Application (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). The revisions are applicable immediately.

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.
    Office of Management and Budget (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.
    A copy of the PRA OMB submission, including the reporting form and 
instructions, supporting statement, and other documentation will be 
placed into OMB's public docket files. These documents also are 
available on the Federal Reserve Board's public website at https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears above.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the Paperwork Reduction Act (PRA) to approve and assign 
OMB control numbers to collections of information conducted or 
sponsored by the Board. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. Copies of the PRA Submission, supporting 
statements, and approved collection of information instrument(s) are 
placed into OMB's public docket files.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, With Revision, of the Following Information Collections

    Report title: Federal Reserve Bank Stock Applications.

[[Page 47514]]

    Agency form numbers: FR 2030, FR 2303a, FR 2056, FR 2086, FR 2086a, 
FR 2087.
    OMB control number: 7100-0042.
    Effective Date: Immediately.
    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:
    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 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 numbers: FR 2083/A/B/C.
    OMB control number: 7100-0046.
    Effective Date: Immediately.
    Frequency: On occasion.
    Respondents: Banks seeking to become state member banks, existing 
banks or savings institutions seeking to convert to state member bank 
status, national banks wanting to purchase stock in the Federal Reserve 
System, and member banks wanting to increase, decrease, or cancel their 
Federal Reserve Bank stock holdings.
    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.
    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).
    Current actions: On June 6, 2019, the Board published a notice in 
the Federal Register (84 FR 26415) requesting public comment for 60 
days on the extension, with revision, of the Federal Reserve Membership 
Application and the Federal Reserve Bank Stock Applications. The 
revisions to these collections include: (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 comment period for this notice expired on August 5, 
2019. The Board did not receive any comments. The revisions will be 
implemented as proposed.

    Board of Governors of the Federal Reserve System, September 5, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-19519 Filed 9-9-19; 8:45 am]
BILLING CODE 6210-01-P