[Federal Register Volume 87, Number 19 (Friday, January 28, 2022)]
[Notices]
[Pages 4595-4596]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01714]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Notice of Proposed Declaration of Dividend (FR 1583; OMB 
No. 7100-0339).

DATES: Comments must be submitted on or before March 29, 2022.

ADDRESSES: You may submit comments, identified by FR 1583, 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 or FR 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 confidential 
business information, identifying information, or contact information. 
Public comments may also be viewed electronically or in paper in Room 
M-4365A, 2001 C St. 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 for the Federal 
Reserve Board, 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 Paperwork Reduction Act (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.
    During the comment period for this proposal, a copy of the proposed 
PRA OMB submission, including the draft reporting form and 
instructions, supporting statement, and other documentation, will 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. Final 
versions of these documents will be made available at https://www.reginfo.gov/public/do/PRAMain, if approved.

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:

[[Page 4596]]

    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: Notice of Proposed Declaration of Dividend.
    Agency form number: FR 1583.
    OMB control number: 7100-0339.
    Frequency: Event-generated.
    Respondents: Savings association subsidiaries of savings and loan 
holding companies (SLHCs).
    Estimated number of respondents: 180.
    Estimated average hours per response: 0.25.
    Estimated annual burden hours: 90.
    General description of report: A savings association subsidiary of 
an SLHC must provide prior notice of the proposed declaration of a 
dividend by filing form FR 1583, whether electronically or by hard 
copy, with the appropriate Reserve Bank. The FR 1583 requires 
information regarding the date of the filing and the nature and amount 
of the proposed dividend, as well as the names and signatures of the 
executive officer and secretary of the savings association that is 
providing the notice. The FR 1583 notice may include a schedule 
proposing dividends over a period specified by the notificant, not to 
exceed 12 months.
    Legal authorization and confidentiality: The FR 1583 is authorized 
by Section 10(f) of the Home Owners' Loan Act (HOLA).\1\ Section 10(f) 
of HOLA provides that every subsidiary savings association of an SLHC 
shall give the Board at least 30 days' advance notice of the proposed 
declaration by its directors of any dividend on its guaranty, 
permanent, or other nonwithdrawable stock. Additionally, Section 10(b) 
of HOLA authorizes the Board to require SLHCs to file ``such reports as 
may be required by the Board.'' \2\ The FR 1583 is mandatory.
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    \1\ 12 U.S.C. 1467a(f).
    \2\ 12 U.S.C. 1467a(b). See 12 U.S.C. 1467a(g).
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    Individual respondents may request that information submitted on 
the FR 1583 be kept confidential on a case-by-case basis. If such a 
request is made, the Board will determine whether the information is 
entitled to confidential treatment. Requests filed pursuant to the FR 
1583 may include information related to the SLHC's business operations, 
such as terms and sources of the funding for dividends and pro forma 
balance sheets. To the extent that this information constitutes 
nonpublic commercial or financial information, which is both 
customarily and actually treated as private by the respondent, it may 
be kept confidential under exemption 4 of the Freedom of Information 
Act, which exempts ``trade secrets and commercial or financial 
information obtained from a person and privileged or confidential.'' 
\3\
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    \3\ 5 U.S.C. 552(b)(4).

    Board of Governors of the Federal Reserve System, January 24, 
2022.
Ann Misback,
Secretary of the Board.
[FR Doc. 2022-01714 Filed 1-27-22; 8:45 am]
BILLING CODE 6210-01-P