[Federal Register Volume 86, Number 30 (Wednesday, February 17, 2021)]
[Notices]
[Pages 9938-9939]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-03092]


=======================================================================
-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

-----------------------------------------------------------------------

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Recordkeeping Requirements Associated with Changes in 
Foreign Investments (Made Pursuant to Regulation K) (FR 2064; OMB No. 
7100-0109).

DATES: Comments must be submitted on or before April 19, 2021.

ADDRESSES: You may submit comments, identified by FR 2064, 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 from 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 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

[[Page 9939]]

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: 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.
    A copy of the Paperwork Reduction Act (PRA) OMB submission, 
including the reporting form and instructions, supporting statement, 
and other documentation will be available at https://www.reginfo.gov/public/do/PRAMain, 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 above.

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: Recordkeeping Requirements Associated with Changes in 
Foreign Investments (Made Pursuant to Regulation K).
    Agency form number: FR 2064.
    OMB control number: 7100-0109.
    Frequency: On occasion.
    Respondents: Internationally active U.S. banking organizations 
(member banks, Edge Act and agreement corporations, and bank holding 
companies).
    Estimated number of respondents: 20.
    Estimated average hours per response: 2.
    Estimated annual burden hours: 160.
    General description of report: This collection concerns internal 
records that internationally active U.S. banking organizations (such as 
internationally active member banks, Edge Act and agreement 
corporations, and bank holding companies) should maintain to 
demonstrate compliance with the investment provisions contained in 
Subpart A of Regulation K--International Banking Operations.
    Legal authorization and confidentiality: The FR 2064 is authorized 
pursuant to section 5(c) of the Bank Holding Company Act; \1\ and 
sections 25(7) and 25A(17) of the Federal Reserve Act.\2\ The 
institutions' obligation to retain the records is mandatory.
---------------------------------------------------------------------------

    \1\ 12 U.S.C. 1844(c).
    \2\ 12 U.S.C. 602 and 625.
---------------------------------------------------------------------------

    The records related to the FR 2064 are retained at banking 
organizations. However, in the event the records are obtained by the 
Board as part of an examination or supervision of a financial 
institution, this information may be considered confidential pursuant 
to exemption 8 of the Freedom of Information Act (FOIA), which protects 
information contained in ``examination, operating, or condition 
reports'' obtained in the bank supervisory process.\3\ Additionally, to 
the extent that such information obtained by the Board constitutes 
nonpublic commercial or financial information, which is both 
customarily and actually treated as private by the financial 
institution, the financial institution may request confidential 
treatment pursuant to exemption 4 of FOIA.\4\
---------------------------------------------------------------------------

    \3\ 5 U.S.C. 552(b)(8).
    \4\ 5 U.S.C. 552(b)(4).

    Board of Governors of the Federal Reserve System, February 10, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-03092 Filed 2-16-21; 8:45 am]
BILLING CODE 6210-01-P