[Federal Register Volume 85, Number 247 (Wednesday, December 23, 2020)]
[Notices]
[Pages 83954-83955]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-28326]


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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 
Notifications Related to Community Development and Public Welfare 
Investments of State Member Banks (FR H-6; OMB No.

[[Page 83955]]

7100-0278). The revisions are effective 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.

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. The OMB 
inventory, as well as copies of the PRA Submission, supporting 
statements, and approved collection of information instrument(s) are 
available at https://www.reginfo.gov/public/do/PRAMain. These documents 
are also 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.

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

    Report title: Notifications Related to Community Development and 
Public Welfare Investments of State Member Banks.
    Agency form number: FR H-6.
    OMB control number: 7100-0278.
    Effective date: The revisions are effective immediately.
    Frequency: Event-generated.
    Respondents: State member banks.
    Estimated number of respondents: Post Notification, 132; and 
Application (Prior Approval), 74.
    Estimated average hours per response: Post Notification, 2; and 
Application (Prior Approval), 5.
    Estimated annual burden hours: Post Notification, 264; and 
Application (Prior Approval), 370.
    General description of report: Regulation H requires state member 
banks planning to make community development or public welfare 
investments to comply with the Regulation H notification requirements: 
(1) For investments that do not require prior Board approval, a written 
notice must be sent to the appropriate Federal Reserve Bank; and (2) 
for investments that do require prior Board approval, a request for 
approval must be sent to the appropriate Federal Reserve Bank.
    Legal authorization and confidentiality: Section 9(23) of the 
Federal Reserve Act authorizes the Board to prescribe regulations with 
regard to state member banks making investments primarily devoted to 
public welfare endeavors.\1\ The obligation to respond is mandatory.
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    \1\ 12 U.S.C. 338a. The Board also has the authority to require 
reports from state member banks (12 U.S.C. 248(a) and 324).
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    Individual respondents may request that information submitted to 
the Board through the FR H-6 be kept confidential. If a respondent 
requests confidential treatment, the Board will determine whether the 
information is entitled to confidential treatment on a case-by-case 
basis. To the extent a respondent submits nonpublic commercial or 
financial information, which is both customarily and actually treated 
as private by the respondent, the information may be kept confidential 
under exemption 4 of the Freedom of Information Act (FOIA).\2\ 
Additionally, to the extent the respondent submits information related 
to examination, operating, or condition reports prepared by, on behalf 
of, or for the use of a financial supervisory agency, the information 
may be withheld from disclosure under FOIA exemption 8.\3\
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    \2\ 5 U.S.C. 552(b)(4).
    \3\ 5 U.S.C. 552(b)(8).
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    Current actions: On September 17, 2020, the Board published a 
notice in the Federal Register (85 FR 58052) requesting public comment 
for 60 days on the extension, with revision, of the FR H-6. The Board 
revised the FR H-6 by removing the notification requirement to submit 
the request for extension of the divestiture period when the bank 
cannot divest within the established time limit. This requirement has 
been listed on the form and in the supporting statement for a number of 
years, but is not contained in the regulations. The comment period for 
this notice expired on November 16, 2020. The Board did not receive any 
comments. The revisions will be implemented as proposed.

    Board of Governors of the Federal Reserve System, December 17, 
2020.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2020-28326 Filed 12-22-20; 8:45 am]
BILLING CODE 6210-01-P