[Federal Register Volume 87, Number 128 (Wednesday, July 6, 2022)]
[Notices]
[Page 40238]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-14376]


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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 
Notice of Proposed Stock Redemption (FR 4008; OMB No. 7100-0131).

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 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.

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. 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, Without Revision, of the Following Information Collection

    Collection title: Notice of Proposed Stock Redemption.
    Collection identifier: FR 4008.
    OMB control number: 7100-0131.
    Frequency: On occasion.
    Respondents: Bank holding companies (BHCs).
    Estimated number of respondents: 6.
    Estimated average hours per response: 15.5.
    Estimated annual burden hours: 93.
    General description of collection: The Bank Holding Company Act of 
1956 (BHC Act) and Board's Regulation Y--Bank Holding Companies and 
Change in Bank Control (12 CFR 225) require a BHC to seek the prior 
approval of the Board before purchasing or redeeming its equity 
securities in certain circumstances. Due to the limited information 
that a BHC must provide in connection with any such request, there is 
no required reporting form (the FR 4008 designation is for internal 
purposes only), and each request for prior approval is generally filed 
30 days before the proposed stock purchase or redemption as a 
notification with the Reserve Bank that has direct supervisory 
responsibility for the requesting BHC. The Federal Reserve uses the 
information provided in the redemption notices to supervise BHCs.
    Legal authorization and confidentiality: The FR 4008 is authorized 
pursuant to sections 5(b) and (c) of the BHC Act.\1\ Section 5(b) of 
the BHC Act, as amended by section 616 of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act,\2\ authorizes the Board to ``issue 
such regulations and orders, including regulations and orders relating 
to the capital requirements for bank holding companies, as may be 
necessary to enable it to administer and carry out the purposes of this 
chapter and prevent evasions thereof.'' Section 5(c) of the BHC Act 
generally authorizes the Board to, among other things, require reports 
from BHCs on a range of issues. The FR 4008 is required for certain 
BHCs to obtain the benefit of being able to purchase or redeem their 
equity securities.
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    \1\ 12 U.S.C. 1844(b) and (c).
    \2\ Public Law 111-203, 124 Stat. 1376 (2010).
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    Individual respondents may request that data submitted be kept 
confidential. If a respondent requests confidential treatment, the 
Board will determine whether the information is entitled to 
confidential treatment on an ad hoc basis. Requests may include 
information related to the BHC's business operations, such as terms and 
sources of the funding for the redemption 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 
[that is] privileged or confidential.'' \3\
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    \3\ 5 U.S.C. 552(b)(4).
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    Current actions: On March 2, 2022, the Board published a notice in 
the Federal Register (87 FR 11706) requesting public comment for 60 
days on the extension, without revision, of the FR 4008. The comment 
period for this notice expired on May 2, 2022. The Board did not 
receive any comments.

    Board of Governors of the Federal Reserve System, June 30, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-14376 Filed 7-5-22; 8:45 am]
BILLING CODE 6210-01-P