[Federal Register Volume 87, Number 130 (Friday, July 8, 2022)]
[Notices]
[Pages 40841-40842]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-14547]


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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 Securities of State Member Banks as Required by 
Regulation H (FR H-1; OMB No. 7100-0091).

DATES: Comments must be submitted on or before September 6, 2022.

ADDRESSES: You may submit comments, identified by FR H-1, 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: Federal Reserve Board of Governors, Attn: Ann E. 
Misback, Secretary of the Board, Mailstop M-4775, 2001 C St. 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 20551, 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:
    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

    Collection title: Securities of State Member Banks as Required by 
Regulation H.
    Collection identifier: FR H-1.
    OMB control number: 7100-0091.
    Frequency: Annually, quarterly, and on occasion.

[[Page 40842]]

    Respondents: State member banks (SMBs).
    Estimated number of respondents: 2.
    Estimated average hours per response: Reporting: Form 10 (17 CFR 
249.210): 219.53; Form 8-A (17 CFR 249.208a): 3; Regulation 12B (17 CFR 
240.12b-1 through 240.12b-37): 1; Rule 13e-l (17 CFR 240.13e-1): 13; 
Regulation 14D (17 CFR 240.14d-1 through 240.14d-103) & Schedule 14D-9 
(17 CFR 240.14d-101): 65.14; Form 8-K (17 CFR 249.308): 9.21; Form 10-Q 
(17 CFR 249.308a): 185.08; Form 10-K (17 CFR 249.310): 2,281.4; 
Reporting and Disclosure: Rule 13e-3 (17 CFR 240.13e) & Schedule 13E-3 
(17 CFR 240.13e-100): 34.36; Regulation 14A (17 CFR 240.14a-1 et seq.) 
& Schedule 14A (17 CFR 240.14a-101): 12.75; Regulation 14C (17 CFR 
240.14c-1 et seq.) & Schedule 14C (17 CFR 240.14c-101): 98.2; Rule 14f-
l (17 CFR 240.14f-l): 2; Rule 12b-25 (17 CFR 240.12b-25) & Form 12b-25 
(17 CFR 249.322): 2.5; Form 15 (17 CFR 249.323): 1.5; Disclosure: Form 
3 (17 CFR 240.16a-3(k)): 0.5; Form 4 (17 CFR 240.16a-3(k)): 0.5; Form 5 
(17 CFR 240.16a-3(k)): 1.
    Estimated annual burden hours: Reporting: Form 10 (17 CFR 249.210): 
439; Form 8-A (17 CFR 249.208a): 6; Regulation 12B (17 CFR 240.12b-1 
through 240.12b-37): 2; Rule 13e-l (17 CFR 240.13e-1): 26; Regulation 
14D (17 CFR 240.14d-1 through 240.14d-103) & Schedule 14D-9 (17 CFR 
240.14d-101): 130; Form 8-K (17 CFR 249.308): 18; Form 10-Q (17 CFR 
249.308a): 1,110; Form 10-K (17 CFR 249.310): 4,563; Reporting and 
Disclosure: Rule 13e-3 (17 CFR 240.13e) & Schedule 13E-3 (17 CFR 
240.13e-100): 69; Regulation 14A (17 CFR 240.14a-1 et seq.) & Schedule 
14A (17 CFR 240.14a-101): 26; Regulation 14C (17 CFR 240.14c-1 et seq.) 
& Schedule 14C (17 CFR 240.14c-101): 196; Rule 14f-l (17 CFR 240.14f-
l): 4; Rule 12b-25 (17 CFR 240.12b-25) & Form 12b-25 (17 CFR 249.322): 
5; Form 15 (17 CFR 249.323): 3; Disclosure: Form 3 (17 CFR 240.16a-
3(k)): 1; Form 4 (17 CFR 240.16a-3(k)): 35; Form 5 (17 CFR 240.16a-
3(k)): 16.
    General description of collection: The Board's Regulation H 
requires SMBs whose securities are subject to registration pursuant to 
the Securities Exchange Act of 1934 (Exchange Act) to disclose certain 
information to shareholders and securities exchanges and to report 
information relating to their securities to the Board using forms 
adopted by the Securities and Exchange Commission (SEC) and in 
compliance with certain rules and regulations adopted by the SEC.
    Legal authorization and confidentiality: The FR H-1 is authorized 
under sections 12(c) and 23(a)(1) of the Exchange Act. The FR H-1 is 
also authorized by section 11 of the Federal Reserve Act, which 
authorizes the Board to require such statements and reports of SMBs as 
the Board may deem necessary.\1\ The FR H-1 is mandatory for SMBs whose 
securities are subject to registration pursuant to the Exchange Act.
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    \1\ 12 U.S.C. 248(1)(1).
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    Reports filed with the Board under the FR H-1 must be available for 
public inspection under Regulation H.\2\ An SMB may request 
confidential treatment for information contained within a report in 
accordance with the procedures established in Regulation H.\3\ 
Information may be kept confidential to the extent it is nonpublic 
commercial or financial information that is both customarily and 
actually treated as private within the meaning of exemption 4 of the 
Freedom of Information Act (FOIA). Information collected on the FR H-1 
may also be kept confidential if it is obtained as part of an 
examination or supervision of a financial institution within the 
meaning of exemption 8 of the FOIA.
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    \2\ 12 CFR 208.36(c)(3).
    \3\ 12 CFR 208.36(d).
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    Consultation outside the agency: The reporting and disclosure 
requirements discussed in this supporting statement were promulgated by 
the SEC. The Board has consulted with the SEC to confirm our 
coordinated burden estimates.

    Board of Governors of the Federal Reserve System, June 30, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-14547 Filed 7-7-22; 8:45 am]
BILLING CODE 6210-01-P