[Federal Register Volume 86, Number 143 (Thursday, July 29, 2021)]
[Notices]
[Pages 40839-40840]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-16145]


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

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 
Bank Holding Company Applications and Notifications (FR Y-3, FR Y-3N, 
and FR Y-4; OMB No. 7100-0121). The revisions are applicable as of 
August 30, 2021.

FOR FURTHER INFORMATION CONTACT: 
    Federal Reserve Board Clearance Officer--Nuha Elmaghrabi--Office of

[[Page 40840]]

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: Application for Prior Approval to Become a Bank 
Holding Company, or for a Bank Holding Company to Acquire an Additional 
Bank or Bank Holding Company; Notice for Prior Approval to Become a 
Bank Holding Company, or for a Bank Holding Company to Acquire an 
Additional Bank or Bank Holding Company; and Notification for Prior 
Approval to Engage Directly or Indirectly in Certain Nonbanking 
Activities.
    Agency form number: FR Y-3, FR Y-3N, and FR Y-4.
    OMB control number: 7100-0121.
    Effective Date: August 30, 2021.
    Frequency: Event-generated.
    Respondents: Bank holding companies (BHCs) and companies seeking to 
become BHCs involving certain formations, acquisitions, mergers, and 
nonbanking activities.
    Estimated number of respondents: FR Y-3, New BHCs: 72; FR Y-3, 
Existing BHCs: 58; FR Y-3N: 21; FR Y-4, completed notification: 22; FR 
Y-4, expedited notification: 8; and FR Y-4, post-consummation: 1.
    Estimated average hours per response: Reporting: FR Y-3, New BHCs: 
48.5; FR Y-3, Existing BHCs: 59; FR Y-3N: 4; FR Y-4, completed 
notification: 11; FR Y-4, expedited notification: 5; and FR Y-4, post-
consummation: 0.5; Disclosure: FR Y-3: 1; FR Y-3N: 1; FR Y-4: 1.
    Estimated annual burden hours: FR Y-3, New BHCs: 3,492; FR Y-3, 
Existing BHCs: 3,422; FR Y-3N: 84; FR Y-4, completed notification: 242; 
FR Y-4, expedited notification: 40; and FR Y-4, post-consummation: 1; 
Disclosure: FR Y-3: 130; FR Y-3N: 21; FR Y-4: 22.
    General description of report: These filings collect information on 
proposals by BHCs and companies seeking to become BHCs involving 
certain formations, acquisitions, mergers, and nonbanking activities. 
The Board requires the submission of these filings for regulatory and 
supervisory purposes and to fulfill its statutory obligations under the 
Bank Holding Company Act of 1956 (the BHC Act). The Board uses the 
information submitted in these filings to evaluate each individual 
transaction with respect to the relevant statutory factors and to 
ensure that the transaction complies with other applicable 
requirements.
    Legal authorization and confidentiality: Section 3(a) of the BHC 
Act requires Board approval for formations, acquisitions, and mergers 
of bank holding companies.\1\ Section 5(b) of the BHC Act authorizes 
the Board to issue regulations and orders to carry out these 
functions.\2\ These sections of the BHC Act provide the legal 
authorization for the FR Y-3 and the FR Y-3N. Section 4(j) of the BHC 
Act requires bank holding companies to give prior written notice to the 
Board of any acquisition of a nonbank company or commencement of any 
nonbanking activities.\3\ This section of the BHC Act provides the 
legal authorization for the FR Y-4. The obligation to respond to the FR 
Y-3, Y-3N, and Y-4 is required to obtain a benefit.
---------------------------------------------------------------------------

    \1\ 12 U.S.C. 1842(a).
    \2\ 12 U.S.C. 1844(b). In addition, section 5(c) of the BHC Act 
authorizes the Board to require reports from bank holding companies. 
12 U.S.C. 1844(c).
    \3\ 12 U.S.C. 1843(j).
---------------------------------------------------------------------------

    To the extent a respondent submits nonpublic commercial or 
financial information in connection with the FR Y-3, Y-3N, or Y-4, 
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).\4\ 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.\5\ 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.\6\
---------------------------------------------------------------------------

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

    Current actions: On April 16, 2021, the Board published an initial 
notice in the Federal Register (86 FR 20149) requesting public comment 
for 60 days on the extension, with revision, of the FR Y-3, FR Y-3N, 
and FR Y-4. The comment period for this notice expired on June 15, 
2021. The Board did not receive any comments. The Board will adopt the 
extension, with revision, of the FR Y-3, FR Y-3N, and FR Y-4 as 
proposed.

    Board of Governors of the Federal Reserve System, July 23, 2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-16145 Filed 7-28-21; 8:45 am]
BILLING CODE 6210-01-P