[Federal Register Volume 85, Number 23 (Tuesday, February 4, 2020)]
[Notices]
[Pages 6182-6183]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-02137]


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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, 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. 7100-292).

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 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. 
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 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, Without Revision, of the Following Information Collection

    Report title: Filings Related to the Gramm-Leach-Bliley Act.
    Agency form number: 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 (GLB Act) 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 is mandatory.
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    \1\ 12 U.S.C. 1843(l). For FBOs, 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 FBOs, 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 FBOs, 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 Availability of Information (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. Information submitted pursuant to the 
FR 4012 may be considered confidential under FOIA exemption 4 and FOIA 
exemption 8, which protects from disclosure information related to the 
supervision or examination of a regulated financial institution (5 
U.S.C. 552(b)(8)). Because the FR 4023 is a recordkeeping requirement, 
the FOIA would only be implicated if the Board's examiners retained a 
copy of the record as part of the supervision of a banking institution. 
Accordingly, such record may be exempt from disclosure under FOIA 
exemption 8.

[[Page 6183]]

    Current actions: On October 18, 2019, the Board published a notice 
in the Federal Register (84 FR 55956) requesting public comment for 60 
days on the extension, without revision, of the Filings Related to the 
Gramm-Leach-Bliley Act information collection. The comment period for 
this notice expired on December 17, 2019. The Board did not receive any 
comments.

    Board of Governors of the Federal Reserve System, January 30, 
2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-02137 Filed 2-3-20; 8:45 am]
BILLING CODE 6210-01-P