[Federal Register Volume 84, Number 202 (Friday, October 18, 2019)]
[Notices]
[Pages 55956-55957]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-22734]


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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 Filings Related to the Gramm-Leach-Bliley Act (FR 4010, 
FR 4011, FR 4012, FR 4017, FR 4019, and FR 4023; OMB No. 7100-0292).

DATES: Comments must be submitted on or before December 17, 2019.

ADDRESSES: You may submit comments, identified by FR 4010, FR 4011, FR 
4012, FR 4017, FR 4019, and FR 4023, by any of the following methods:
     Agency Website: https://www.federalreserve.gov. Follow the 
instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include the 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 https://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons or to remove personally 
identifiable information at the commenter's request. Accordingly, 
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 
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.

FOR FURTHER INFORMATION CONTACT: A copy of the Paperwork Reduction Act 
(PRA) OMB submission, including the 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 https://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.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the PRA to approve and assign OMB control numbers to 
collections of information 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 Proposals

    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 collections of information are 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 collections, 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 the information collections on 
respondents, including through the use of automated

[[Page 55957]]

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: Filings Related to the Gramm-Leach-Bliley Act.
    Agency form numbers: FR 4010, FR 4011, FR 4012, FR 4017, FR 4019, 
and FR 4023.
    OMB control number: 7100-0292.
    Frequency: On occasion.
    Respondents: Bank holding companies (BHCs), savings and loan 
holding companies (SLHCs), foreign banking organizations (FBOs), and 
state member banks.
    Estimated number of respondents: FR 4010: BHCs and SLHCs, 58, and 
FBOs, 4; FR 4011: 1; FR 4012: BHCs and SLHCs decertified as a financial 
holding company (FHC), 2, and FHCs back into compliance--BHCs and 
SLHCs, 14; FR 4017: 1; FR 4019: Regulatory relief requests, 1, and 
Portfolio company notification, 1; FR 4023: 30.
    Estimated average hours per response: FR 4010: BHCs and SLHCs, 3, 
and FBOs, 3.5; FR 4011: 10; FR 4012: BHCs and SLHCs decertified as an 
FHC, 1, and FHCs back into compliance--BHCs and SLHCs, 10; FR 4017: 4; 
FR 4019: Regulatory relief requests, 1, and Portfolio company 
notification, 1; FR 4023: 50.
    Estimated annual burden hours: FR 4010: BHCs and SLHCs, 174, FBOs, 
14; FR 4011: 10; FR 4012: BHCs and SLHCs decertified as an FHC, 2, and 
FHCs back into compliance--BHCs and SLHCs, 140; FR 4017: 4; FR 4019: 
Regulatory relief requests, 1, and Portfolio company notification, 1; 
FR 4023: 1,500.
    General description of report: These reporting and recordkeeping 
requirements, which are related to amendments made by the Gramm-Leach-
Bliley Act (GLBA) to the Bank Holding Company Act (BHC Act) and the 
Federal Reserve Act (FRA), are composed of the following:
     Declarations to Become a Financial Holding Company (FR 
4010);
     Requests for Determinations and Interpretations Regarding 
Activities Financial in Nature (FR 4011);
     Notices of Failure to Meet Capital or Management 
Requirements (FR 4012);
     Notices by State Member Banks to Invest in Financial 
Subsidiaries (FR 4017);
     Regulatory Relief Requests Associated with Merchant 
Banking Activities (FR 4019); and
     Recordkeeping Requirements Associated with Merchant 
Banking Activities (FR 4023).
    These collections of information are event-generated and there are 
no formal reporting forms for these collections of information. In each 
case, the information required to be filed is described in the Board's 
regulations.
    Legal authorization and confidentiality: The FR 4010 is authorized 
pursuant to section 4(l) of the BHC Act \1\ and section 10(c)(2)(H) of 
the Home Owners' Loan Act (``HOLA'').\2\ The FR 4011 is authorized 
pursuant to sections 4(j) and (k) of the BHC Act.\3\ The FR 4012 is 
authorized pursuant to section 5(b) of the BHC Act \4\ and section 
10(g) of the HOLA.\5\ The FR 4017 is authorized pursuant to section 9 
of the FRA.\6\ The FR 4019 and FR 4023 are authorized pursuant to 
section 4(k)(7) of the BHC Act.\7\ The obligation to respond to the FR 
4010, FR 4011, FR 4017, and FR 4019 is required to obtain a benefit. 
The obligation to respond to the FR 4012 and comply with the 
recordkeeping requirements of the FR 4023 are mandatory.
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    \1\ 12 U.S.C. 1843(l). For foreign banking organizations, the FR 
4010 is authorized pursuant to section 4(l) of the BHC Act (12 
U.S.C. 1843(l)), in conjunction with section 8 of the International 
Banking Act (12 U.S.C. 3106(a)).
    \2\ 12 U.S.C 1467a(c)(2)(H).
    \3\ 12 U.S.C. 1843(j)-(k).
    \4\ 12 U.S.C. 1844(b). For foreign banking organizations, the FR 
4012 is authorized pursuant to section 5(b) of the BHC Act (12 
U.S.C. 1844(b)), in conjunction with section 8 of the International 
Banking Act (12 U.S.C. 3106).
    \5\ 12 U.S.C. 1467a(g).
    \6\ 12 U.S.C. 335.
    \7\ 12 U.S.C. 1843(k)(7). For foreign banking organizations, the 
FR 4019 and 4023 are authorized pursuant to section 4(k)(7) of the 
BHC Act (12 U.S.C. 1843(k)(7)), in conjunction with section 8 of the 
International Banking Act (12 U.S.C. 3106).
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    Regarding information submitted pursuant to the FR 4010, FR 4011, 
FR 4017, and FR 4019, a firm may request confidential treatment under 
the Board's rules regarding confidential treatment of information at 12 
CFR 261.15. The Board will consider whether such information may be 
kept confidential in accordance with exemption 4 of the Freedom of 
Information Act (``FOIA''), which protects from disclosure trade 
secrets and commercial or financial information (5 U.S.C. 552(b)(4)), 
or any other applicable FOIA exemption.

    Board of Governors of the Federal Reserve System, October 11, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-22734 Filed 10-17-19; 8:45 am]
 BILLING CODE 6210-01-P