[Federal Register Volume 88, Number 137 (Wednesday, July 19, 2023)]
[Notices]
[Pages 46162-46163]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-15243]


-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

-----------------------------------------------------------------------

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Reporting Requirements Associated with Regulation XX (FR 
XX; OMB No. 7100-0363).

DATES: Comments must be submitted on or before September 18, 2023.

ADDRESSES: You may submit comments, identified by FR XX, 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, except for Federal holidays. 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

[[Page 46163]]

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, [email protected], (202) 
452-3884.

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 (which contains more detail about 
the information collection and burden estimates than this notice), and 
other documentation, will be made available on the 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 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: Reporting Requirements Associated with Regulation 
XX.
    Collection identifier: FR XX.
    OMB control number: 7100-0363.
    General description of collection: The Board's Regulation XX--
Concentration Limit (12 CFR part 251) implements section 14 of the Bank 
Holding Company Act of 1956 (BHC Act), which establishes a financial 
sector concentration limit that generally prohibits a financial company 
from merging or consolidating with, or otherwise acquiring, another 
company if the resulting company's liabilities upon consummation would 
exceed 10 percent of the aggregate liabilities of all financial 
companies (a covered acquisition). Under section 14 of the BHC Act and 
Regulation XX, a financial company means (1) an insured depository 
institution, (2) a bank holding company, (3) a savings and loan holding 
company, (4) any other company that controls an insured depository 
institution, (5) a nonbank financial company designated by the 
Financial Stability Oversight Council for supervision by the Board, or 
(6) a foreign bank or company that is treated as a bank holding company 
for purposes of the BHC Act. Regulation XX includes certain reporting 
requirements that apply to financial companies (sections 251.3(e), 
251.4(b), and 251.4(c)). In addition, section 251.6 of Regulation XX 
requires financial companies that do not report consolidated financial 
information to the Board or other appropriate Federal banking agency to 
report information on their total liabilities; the Board has 
implemented this requirement through the Financial Company (as defined) 
Report of Consolidated Liabilities (FR XX-1).
    Frequency: Event-generated, annual.
    Respondents: Financial companies.
    Total estimated number of respondents:

Section 251.3(e): 1.
Section 251.4(b): 1.
Section 251.4(c): 1.
Section 251.6 (FR XX-1): 35.

    Estimated average hours per response:

Section 251.3(e): 5.
Section 251.4(b): 10.
Section 251.4(c): 10.
Section 251.6 (FR XX-1): 9.

    Total estimated annual burden hours: 97.\1\
---------------------------------------------------------------------------

    \1\ 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 XX.

    Board of Governors of the Federal Reserve System, July 13, 2023.
Erin Cayce,
Assistant Secretary of the Board.
[FR Doc. 2023-15243 Filed 7-18-23; 8:45 am]
BILLING CODE 6210-01-P