[Federal Register Volume 86, Number 43 (Monday, March 8, 2021)]
[Notices]
[Pages 13382-13384]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-04664]


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

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 International Applications and Prior Notifications under 
Subpart B of Regulation K (FR K-2; OMB No. 7100-0284).

[[Page 13383]]


DATES: Comments must be submitted on or before May 7, 2021.

ADDRESSES: You may submit comments, identified by FR K-2, 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 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: The International Applications and Prior 
Notifications under Subpart B of Regulation K.
    Agency form number: FR K-2.
    OMB control number: 7100-0284.
    Frequency: On occasion.
    Respondents: Foreign banks.
    Estimated number of respondents: 13.
    Estimated average hours per response: Reporting: 35; Disclosure: 1.
    Estimated annual burden hours: Reporting: 455; Disclosure: 13.
    General description of report: Under the International Banking Act 
of 1978 (IBA), foreign banks are required to obtain the prior approval 
of the Board to establish a branch, agency, or representative office in 
the United States; to establish or acquire ownership or control of a 
commercial lending company in the United States; or to change the 
status of an agency or limited branch to a branch in the United States. 
The Board uses the information from the FR K-2 in connection with these 
applications and to supervise foreign banks with offices \1\ in the 
United States.
---------------------------------------------------------------------------

    \1\ The term ``office'' means any branch, agency, or 
representative office, or a commercial lending company subsidiary.
---------------------------------------------------------------------------

    Legal authorization and confidentiality: The FR K-2 is authorized 
pursuant to sections 7, 10, and 13 of the International Banking Act.\2\ 
The applications and notifications comprising FR K-2 are required to 
obtain a benefit.
---------------------------------------------------------------------------

    \2\ 12 U.S.C. 3105, 3107, and 3108.
---------------------------------------------------------------------------

    The Board does not routinely publicly release information collected 
through the FR K-2. To the extent a respondent submits nonpublic 
commercial or financial information in connection with the FR K-2, 
which is both customarily and actually treated as private by the 
respondent, the respondent may request confidential treatment pursuant 
to exemption 4 of the Freedom of Information Act (FOIA).\3\ To the 
extent a respondent submits personal, medical, or similar files, the 
disclosure of which would constitute an unwarranted invasion of 
privacy, the respondent may request confidential treatment pursuant to 
exemption 6 of the FOIA.\4\ If a respondent requests confidential 
treatment, the Board will determine whether the information is entitled 
to confidential treatment on a case-by-case basis. The entity should 
separately designate any such information as ``confidential commercial 
information'' or ``confidential financial information'' and the Board 
will treat such designated information as confidential to the extent 
permitted by law, including the FOIA. To the extent a 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 treated as confidential 
pursuant to exemption 8 of the FOIA.\5\
---------------------------------------------------------------------------

    \3\ 5 U.S.C. 552(b)(4).
    \4\ 5 U.S.C. 552(b)(6).
    \5\ 5 U.S.C. 552(b)(8).


[[Page 13384]]


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

    Board of Governors of the Federal Reserve System, March 1, 2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-04664 Filed 3-5-21; 8:45 am]
BILLING CODE 6210-01-P