[Federal Register Volume 86, Number 109 (Wednesday, June 9, 2021)]
[Notices]
[Pages 30604-30605]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-12088]


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

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.

[[Page 30605]]

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of 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; 
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.
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    \1\ The term ``office'' means any branch, agency, or 
representative office, or a commercial lending company subsidiary.
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    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.
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    \2\ 12 U.S.C. 3105, 3107, and 3108.
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    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 confidential pursuant to 
exemption 8 of the FOIA.\5\
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    \3\ 5 U.S.C. 552(b)(4).
    \4\ 5 U.S.C. 552(b)(6).
    \5\ 5 U.S.C. 552(b)(8).
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    Current actions: On March 8, 2021, the Board published an initial 
notice in the Federal Register (86 FR 13383) requesting public comment 
for 60 days on the extension, without revision, of the FR K-2. The 
comment period for this notice expired on May 7, 2021. The Board did 
not receive any comments. The Board will adopt the extension, without 
revision of the FR K-2 as originally proposed.

    Board of Governors of the Federal Reserve System, June 4, 2021.
Ann Misback,
Secretary of the Board.
[FR Doc. 2021-12088 Filed 6-8-21; 8:45 am]
BILLING CODE 6210-01-P