[Federal Register Volume 87, Number 246 (Friday, December 23, 2022)]
[Notices]
[Pages 78962-78964]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-27920]


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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, with revision, the 
Federal Reserve Membership Application (FR 2083, FR 2083A, FR 2083B, 
and FR 2083C; OMB No. 7100-0046) and the Federal Reserve Bank Stock 
Applications (FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, and FR 
2087; OMB No. 7100-0042).

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve

[[Page 78963]]

System, [email protected], (202) 452-3884.
    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 (which contain more detailed 
information about the information collections and burden estimates than 
this notice), 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/reportingforms/home/review 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 Collections \1\
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    \1\ As part of this clearance, the Board will clear the FR 2083, 
FR 2083A, FR 2083B, and FR 2083C (FR 2083/A/B/C) under the FR 2030, 
FR 2030a, FR 2056, FR 2086, FR 2086a, and FR 2087 OMB control number 
(7100-0042), and then discontinue the FR 2083/A/B/C's separate OMB 
control number (7100-0046). This change is aimed at simplifying the 
tracking and clearance process for the two related sets of forms. 
This change would not modify the reporting requirements of the forms 
in any way. The collection will then be titled ``The Federal Reserve 
Membership and Bank Stock Applications'' (FR 2030, FR 2030a, FR 
2056, FR 2083, FR 2083A, FR 2083B, FR 2083C, FR 2086, FR 2086a, and 
FR 2087; 7100-0042).
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    Collection title: Federal Reserve Membership Application.
    Collection identifier: FR 2083, FR 2083A, FR 2083B, and FR 2083C.
    OMB control number: 7100-0046.
    Effective date: January 23, 2023.
    General description of collection: Any state-chartered bank (or 
national bank converting to become a state-chartered bank) applying for 
membership in the Federal Reserve System must file an application with 
the appropriate Federal Reserve Bank. The four individual application 
forms in the FR 2083/A/B/C series (membership application and relevant 
attachments) are all one-time submissions that are used by new or 
existing state-chartered banks to apply for membership in the Federal 
Reserve System:
     FR 2083--Cover sheet, with general information and 
instructions detailing the information to be submitted according to the 
type of applicant bank,
     FR 2083A--Application form for the purchase of Federal 
Reserve Bank stock by state banks (except mutual savings banks) and by 
national banks converting into state member banks,
     FR 2083B--Application form for the purchase of Federal 
Reserve Bank stock by mutual savings banks, and
     FR 2083C--Certificate of Organizers or Directors 
certifying that the information being submitted is true and complete, 
and the proposed capital is not impaired.
    Frequency: On occasion.
    Respondents: State-chartered banks (or national banks converting to 
become state-chartered banks) applying for membership in the Federal 
Reserve System.
    Total estimated number of respondents: 13.\2\
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    \2\ More detailed information regarding this collection, 
including more detailed burden estimates, can be found in the OMB 
Supporting Statement posted at https://www.federalreserve.gov/apps/reportingforms/home/review. On the page displayed at the link, you 
can find the OMB Supporting Statement by referencing the collection 
identifier, FR 2030 et al or FR 2083.
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    Total estimated change in burden: 13 hours.
    Total estimated annual burden hours: 65.
    Collection title: Federal Reserve Bank Stock Applications.
    Collection identifier: FR 2030, FR 2030a, FR 2056, FR 2086, FR 
2086a, and FR 2087.
    OMB control number: 7100-0042.
    Effective date: January 23, 2023.
    General description of collection: Any national bank seeking to 
purchase stock in the Federal Reserve System, any member bank seeking 
to increase or decrease its Federal Reserve Bank stock holdings, or any 
member bank seeking to cancel its stock holdings must file an 
application with the appropriate Federal Reserve Bank. The application 
forms for the initial subscription of Federal Reserve Bank stock filed 
by organizing national banks and nonmember state banks converting to 
national banks or federal savings associations electing to operate as a 
covered savings association (CSA) (FR 2030 and 2030a, respectively) and 
the application forms for the cancellation of Federal Reserve Bank 
stock filed by liquidating member banks, member banks merging or 
consolidating with nonmember banks or CSAs terminating an election to 
operate as a CSA, and insolvent member banks (FR 2086, FR 2086a, and FR 
2087, respectively) may require one or more of the following: a 
resolution by the applying bank's board of directors authorizing the 
transaction, an indication of the capital and surplus of the bank as of 
the date of application, a certification (by official signatures) of 
the resolution, and/or an indication of the number of shares and dollar 
amount of the Federal Reserve Bank stock to be purchased or canceled.
    The application form for an adjustment in a member bank's holdings 
of Federal Reserve Bank stock (FR 2056) requires an indication of the 
capital and surplus of the bank as of the date of application and an 
indication of the number of shares held and the number of shares to be 
acquired or canceled. A completed application form must be submitted 
for each required adjustment by the survivor member bank due to legal 
merger or other consolidation as a result of Regulation I. The amount 
of Federal Reserve Bank stock actually held by the member bank is 
determined by the Reserve Bank through its monitoring of the member 
bank's capital accounts reported quarterly on the Consolidated Reports 
of Condition and Income (Call Report) (FFIEC 031, FFIEC 041, and FFIEC 
051; OMB No. 7100 0036). The Federal Reserve Bank stock applications 
are distributed by the Federal Reserve Banks and the information 
collected enables them to account for required subscription, 
adjustment, or cancellation payments to and from the System and for 
dividends paid by the System on any outstanding stock.
    Frequency: On occasion.
    Respondents: Banks seeking to become state member banks, existing 
banks or savings institutions seeking to convert to state member bank 
status, national banks seeking to purchase stock in the Federal Reserve 
System, and member banks seeking to increase, decrease, or cancel their 
Federal Reserve Bank stock holdings.
    Total estimated number of respondents: 90.
    Total estimated annual burden hours: 47.
    Current actions: On September 14, 2022, the Board published a 
notice in the Federal Register (87 FR 56421) requesting public comment 
for 60 days on the extension, with revision, of the FR 2083, FR 2083A, 
FR 2083B, FR 2083C, FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, and 
FR 2087. The Board revised the FR 2083, FR 2056, FR

[[Page 78964]]

2086, FR 2086a, and FR 2087 by aligning the Applicant's Interagency 
Biographical and Financial Report (FR 2081c; OMB No. 7100-0134) 
requirements with Federal Reserve internal guidance, requiring updated 
shareholder records if changes are proposed, updating the total 
consolidated assets threshold for the purchase of Federal Reserve bank 
stock to conform with the Board's Regulation I--Issue and Cancellation 
of Federal Reserve Bank Capital Stock (12 CFR 209), and removing items 
that are no longer required in the application process. These revisions 
are intended to improve the clarity of the information requests. There 
were no proposed revisions to the FR 2030, FR 2030a, FR 2083A, FR 
2083B, or FR 2083C as part of this clearance.
    The comment period for this notice expired on November 14, 2022. 
The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, December 19, 
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-27920 Filed 12-22-22; 8:45 am]
BILLING CODE 6210-01-P