[Federal Register Volume 88, Number 231 (Monday, December 4, 2023)]
[Notices]
[Pages 84142-84143]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-26573]


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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 
Reporting Requirements Associated with Regulation XX (FR XX; OMB No. 
7100-0363).

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 84143]]

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, Without Revision, of 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 (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: 35.
    Total estimated annual burden hours: 97.\1\
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    \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.
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    Current actions: On July 19, 2023, the Board published a notice in 
the Federal Register (88 FR 46162) requesting public comment for 60 
days on the extension, without revision, of the FR XX. The comment 
period for this notice expired on September 18, 2023. The Board did not 
receive any comments.

    Board of Governors of the Federal Reserve System, November 29, 
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-26573 Filed 12-1-23; 8:45 am]
BILLING CODE 6210-01-P