[Federal Register Volume 89, Number 145 (Monday, July 29, 2024)]
[Notices]
[Pages 60893-60894]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16597]


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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 
International Applications and Prior Notifications under Subparts A and 
C of Regulation K (FR K-1; OMB No. 7100-0107).

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.
    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. On the page displayed at the link above, you can find the 
supporting information by referencing the collection identifier, FR K-
1.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Information Collection

    Collection title: International Applications and Prior 
Notifications

[[Page 60894]]

under Subparts A and C of Regulation K.
    Collection identifier: FR K-1.
    OMB control number: 7100-0107.
    General description of collection: Subpart A of Regulation K, 
International Banking Operations (12 CFR part 211, subpart A), governs 
the foreign investments and activities of member banks, Edge and 
agreement corporations, bank holding companies (BHCs), and certain 
investments by foreign organizations. Subpart C of Regulation K, Export 
Trading Companies (12 CFR part 211, subpart C), governs investments in 
export trading companies by eligible investors. Eligible investors are 
BHCs, banker's banks, foreign banking organizations, and Edge and 
agreement corporations that are subsidiaries of BHCs but are not 
subsidiaries of banks (12 CFR 211.32(d)). The FR K-1 information 
collection comprises a reporting form (FR K-1 form), as well as certain 
reporting and recordkeeping requirements contained in these subparts of 
Regulation K that are not directly reflected in the FR K-1 form, and a 
disclosure requirement (via newspaper notice) for certain transactions. 
The FR K-1 form contains eleven attachments associated with the 
application and notification requirements in Subparts A and C of 
Regulation K. The Board requires the information collected by the FR K-
1 for regulatory and supervisory purposes and to allow the Board to 
fulfill its statutory obligations under the Federal Reserve Act and the 
Bank Holding Company Act of 1956.
    Frequency: Event-generated.
    Respondents: Member banks, Edge and agreement corporations, BHCs, 
and with regard to certain investments, foreign organizations.
    Total estimated number of respondents: 119.
    Total estimated annual burden hours: 1,009.
    Current actions: On April 29, 2024, the Board published a notice in 
the Federal Register (89 FR 33348) requesting public comment for 60 
days on the extension, without revision, of the FR K-1. The comment 
period for this notice expired on June 28, 2024. The Board did not 
receive any comments.

    Board of Governors of the Federal Reserve System, July 24, 2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-16597 Filed 7-26-24; 8:45 am]
BILLING CODE 6210-01-P