[Federal Register Volume 80, Number 59 (Friday, March 27, 2015)]
[Notices]
[Pages 16386-16389]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-07067]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board of Governors of the Federal Reserve System 
(Board) its approval authority under the Paperwork Reduction Act (PRA), 
to approve of and assign OMB control numbers to collection of 
information requests and requirements conducted or sponsored by the 
Board. Board-approved collections of information are incorporated into 
the official OMB inventory of currently approved collections of 
information. Copies of the PRA Submission, supporting statements and 
approved collection of information instruments are placed into OMB's 
public docket files. The Federal Reserve may not conduct or sponsor, 
and the respondent is not required to respond to, an information 
collection that has been extended, revised, or implemented on or after 
October 1, 1995, unless it displays a currently valid OMB control 
number.

DATES: Comments must be submitted on or before May 26, 2015.

ADDRESSES: You may submit comments, identified by HC Financial 
Statements, by any of the following methods:
    <bullet> Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx .
    <bullet> Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
    <bullet> Email: <a href="/cdn-cgi/l/email-protection#c2b0a7a5b1eca1adafafa7acb6b182a4a7a6a7b0a3aeb0a7b1a7b0b4a7eca5adb4"><span class="__cf_email__" data-cfemail="89fbeceefaa7eae6e4e4ece7fdfac9efecedecfbe8e5fbecfaecfbffeca7eee6ff">[email protected]</span></a>. Include OMB 
number in the subject line of the message.
    <bullet> FAX: (202) 452-3819 or (202) 452-3102.
    <bullet> Mail: Robert deV. Frierson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue NW., 
Washington, DC 20551.
    All public comments are available from the Board's Web site at 
http://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons. Accordingly, your comments will 
not be edited to remove any identifying or contact information. Public 
comments may also be viewed electronically or in paper form in Room 
3515, 1801 K Street (between 18th and 19th Streets NW.) Washington, DC 
20006 between 9:00 a.m. and 5:00 p.m. on weekdays.
    Additionally, commenters may send a copy of their comments to the 
OMB Desk Officer--Shagufta Ahmed--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: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public Web site at: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    Federal Reserve Board Acting Clearance Officer--Mark Tokarski--
Office of the Chief Data Officer, Board of Governors of the Federal 
Reserve System, Washington, DC 20551, (202) 452-3829. 
Telecommunications Device for the Deaf (TDD) users may contact (202) 
263-4869, Board of Governors of the Federal Reserve System, Washington, 
DC 20551.

SUPPLEMENTARY INFORMATION:

Request for Comment on Information Collection Proposals

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, along with an analysis of 
comments and recommendations received, will be submitted to the Board 
for final approval under OMB delegated authority. Comments are invited 
on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve'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 start up costs and costs of operation, 
maintenance, and purchase of services to provide information.

Proposal To Approve Under OMB Delegated Authority the Revision, Without 
Extension, of the Following Reports:

    1. Report title: Consolidated Financial Statements for Holding 
Companies, Parent Company Only Financial Statements for Large Holding 
Companies, Parent Company Only Financial Statements for Small Holding 
Companies, Financial Statements for Employee Stock Ownership Plan 
Holding Companies.\1\
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    \1\ The family of FR Y-9 reporting forms also contains the 
Supplement to the Consolidated Financial Statements for Holding 
Companies (FR Y-9CS) which is not being revised.
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    Agency form number: FR Y-9C, FR Y-9LP, FR Y-9SP, FR Y-9ES.
    OMB control number: 7100-0128.
    Frequency: Quarterly, semiannually, annually.

[[Page 16387]]

    Reporters: Bank holding companies (BHCs), savings and loan holding 
companies (SLHCs), and securities holding companies (SHCs) 
(collectively, ``holding companies'' (HCs)).
    Estimated annual reporting hours: FR Y-9C (non Advanced 
Approaches): 130,964 hours; FR Y-9C (Advanced Approaches): 2,500 hours; 
FR Y-9LP: 17,178 hours; FR Y-9SP: 47,412 hours; FR Y-9ES: 43 hours.
    Estimated average hours per response: FR Y-9C (non Advanced 
Approaches): 50.84 hours; FR Y-9C (Advanced Approaches): 52.09 hours; 
FR Y-9LP: 5.25 hours; FR Y-9SP: 5.40 hours; FR Y-9ES: 0.50 hours.
    Number of respondents: FR Y-9C (non Advanced Approaches): 644; FR 
Y-9C (Advanced Approaches): 12; FR Y-9LP: 818; FR Y-9SP: 4,390; FR Y-
9ES: 86.
    General description of report: This information collection is 
mandatory for BHCs (12 U.S.C. 1844(c)). Additionally, section 10 of 
Home Owners' Loan Act (HOLA) (12 U.S.C. 1467a(b))and 1850a(c)(1)(A), 
respectively, authorize the Federal Reserve to require that SLHCs and 
supervised SHCs file the FR Y-9C with the Federal Reserve. Confidential 
treatment is not routinely given to the financial data in this report. 
However, confidential treatment for the reporting information, in whole 
or in part, can be requested in accordance with the instructions to the 
form, pursuant to sections (b)(4), (b)(6), or (b)(8) of the Freedom of 
Information Act (FOIA) (5 U.S.C. 522(b)(4), (b)(6), and (b)(8)).
    Abstract: Pursuant to the Bank Holding Company Act of 1956, as 
amended, and HOLA, the Federal Reserve requires HCs to provide 
standardized financial statements to fulfill the Federal Reserve's 
statutory obligation to supervise these organizations. HCs file the FR 
Y-9C and FR Y-9LP quarterly, the FR Y-9SP semiannually, and the FR Y-
9ES annually.
    2. Report title: Consolidated Holding Company Report of Equity 
Investments in Nonfinancial Companies.
    Agency form number: FR Y-12.
    OMB control number: 7100-0300.
    Frequency: Quarterly and semiannually.
    Reporters: BHCs and SLHCs.
    Estimated annual reporting hours: FR Y-9C filers: 1,584 hours; FR 
Y-9SP filers: 132 hours.
    Estimated average hours per response: 16.50 hours.
    Number of respondents: FR Y-9C filers: 24; FR Y-9SP filers: 4.
    General description of report: This collection of information is 
mandatory pursuant to Section 5(c) of the BHC Act (12 U.S.C. 1844(c)) 
and section 10 of HOLA (12 U.S.C. 1467a(b)). The FR Y-12 data are not 
considered confidential. However, confidential treatment for the 
reporting information, in whole or in part, can be requested in 
accordance with the instructions to the form, pursuant to sections 
(b)(4), (b)(6), or (b)(8) of FOIA (5 U.S.C. 522(b)(4), (b)(6), and 
(b)(8)).
    Abstract: The FR Y-12 collects information from certain domestic 
BHCs and SLHCs on their equity investments in nonfinancial companies. 
The FR Y-12 data serve as an important risk-monitoring device for 
institutions active in this business line by allowing supervisory staff 
to monitor an institution's activity between review dates. They also 
serve as an early warning mechanism, to identity institutions whose 
activities in this area are growing rapidly and therefore warrant 
special supervisory attention. Respondents report the FR Y-12 either 
quarterly or semi-annually based on reporting threshold criteria.
    3. Report title: Banking Organization System Risk Report.
    Agency form number: FR Y-15.
    OMB control number: 7100-0352.
    Frequency: Annually.
    Reporters: BHCs with total consolidated assets of $50 billion or 
more, and any U.S.-based organizations identified as global 
systemically important banks (GSIBs) that do not otherwise meet the 
consolidated assets threshold for BHCs.
    Estimated annual reporting hours: 9,735 hours.
    Estimated average hours per response: 295 hours.
    Number of respondents: 33.
    General description of report: This collection of information is 
mandatory pursuant to section 5 of the BHC Act (12 U.S.C. 1844(c)). 
Except for those items subject to a delayed release, the individual 
data items collected on the FR Y-15 will be made available to the 
public for report dates beginning December 31, 2013. Though 
confidential treatment will not be routinely given to the financial 
data collected on the FR Y-15, respondents may request such treatment 
for any information that they believe is subject to an exemption from 
disclosure pursuant to sections (b)(4), (b)(6), or (b)(8) of FOIA (5 
U.S.C. 522(b)(4), (b)(6), and (b)(8)).
    Abstract: The FR Y-15 annual report collects systemic risk data 
from U.S. BHCs with total consolidated assets of $50 billion or more, 
and any U.S.-based organizations identified as GSIBs that do not 
otherwise meet the consolidated assets threshold for BHCs. The profile 
of the institutions which are subject to enhanced prudential standards 
under section 165 of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (DFA).
    4. Report title: Financial Statements of U.S. Nonbank Subsidiaries 
of U.S. Holding Companies and the Abbreviated Financial Statements of 
U.S. Nonbank Subsidiaries of U.S. Holding Companies.
    Agency form number: FR Y-11 and FR Y-11S.
    OMB control number: 7100-0244.
    Frequency: Quarterly and annually.
    Reporters: HCs.
    Estimated annual reporting hours: FR Y-11 (quarterly): 15,966 
hours; FR Y-11 (annual): 2,441 hours; FR Y-11S: 429 hours.
    Estimated average hours per response: FR Y-11: 6.80 hours; FR Y-
11S: 1 hour.
    Number of respondents: FR Y-11 (quarterly): 587; FR Y-11 (annual): 
359; FR Y-11S: 429.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(c)). Confidential treatment is not routinely 
given to the data in these reports. However, confidential treatment for 
the reporting information, in whole or in part, can be requested in 
accordance with the instructions to the form, pursuant to sections 
(b)(4), (b)(6)and (b)(8) of FOIA (5 U.S.C. 522(b)(4), (b)(6) and 
(b)(8)).
    Abstract: The FR Y-11 and FR Y-11S reporting forms collect 
financial information for individual non-functionally regulated U.S. 
nonbank subsidiaries of domestic HCs. HCs file the FR Y-11 on a 
quarterly or annual basis or the FR Y-11S annually based on size 
thresholds, and for the FR Y-11S, based on an additional threshold 
related to the percentage of consolidated assets of the top-tier 
organization. The FR Y-11 family of reports data are used with other HC 
data to assess the condition of HCs that are heavily engaged in 
nonbanking activities and to monitor the volume, nature, and condition 
of their nonbanking operations.
    5. Report title: Financial Statements of Foreign Subsidiaries of 
U.S. Banking Organizations and the Abbreviated Financial Statements of 
Foreign Subsidiaries of U.S. Banking Organizations.
    Agency form number: FR 2314 and FR 2314S.
    OMB control number: 7100-0073.
    Frequency: Quarterly and annually.
    Reporters: Foreign subsidiaries of U.S. state member banks (SMBs), 
Edge and agreement corporations, and HCs.
    Estimated annual reporting hours: FR 2314 (quarterly): 18,427 
hours; FR 2314

[[Page 16388]]

(annual): 2,554 hours; FR 2314S: 480 hours.
    Estimated average hours per response: FR 2314: 6.60 hours; FR 
2314S: 1 hour.
    Number of respondents: FR 2314 (quarterly): 698; FR 2314 (annual): 
387; FR 2314S: 480.
    General description of report: This information collection is 
mandatory (12 U.S.C. 324, 602, 625, and 1844(c)). Confidential 
treatment is not routinely given to the data in these reports. However, 
confidential treatment for the reporting information, in whole or in 
part, can be requested in accordance with the instructions to the form, 
pursuant to sections (b)(4), (b)(6) and (b)(8) of FOIA (5 U.S.C. 
522(b)(4) (b)(6) and (b)(8)).
    Abstract: The FR 2314 and FR 2314S reporting forms collect 
financial information for non-functionally regulated direct or indirect 
foreign subsidiaries of U.S. SMBs, Edge and agreement corporations, and 
HCs. Parent organizations (SMBs, Edge and agreement corporations, or 
HCs) file the FR 2314 on a quarterly or annual basis or the FR 2314S 
annually based on additional size thresholds. The FR 2314 family of 
reports data are used to identify current and potential problems at the 
foreign subsidiaries of U.S. parent companies, to monitor the 
activities of U.S. banking organizations in specific countries, and to 
develop a better understanding of activities within the industry, in 
general, and of individual institutions, in particular.
    6. Report title: Financial Statements of U.S. Nonbank Subsidiaries 
Held by Foreign Banking Organizations, the Abbreviated Financial 
Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking 
Organizations, and the Capital and Asset Report for Foreign Banking 
Organizations.
    Agency form number: FR Y-7N, FR Y-7NS, and FR Y-7Q.
    OMB control number: 7100-0125.
    Frequency: Quarterly and annually.
    Reporters: Foreign banking organizations (FBOs).
    Estimated annual reporting hours: FR Y-7N (quarterly): 5,168 hours; 
FR Y-7N (annual): 612 hours; FR Y-7NS: 74 hours; FR Y-7Q (quarterly): 
434 hours; FR Y-7Q (annual): 164 hours.
    Estimated average hours per response: FR Y-7N (quarterly): 6.8 
hours; FR Y-7N (annual): 6.8 hours; FR Y-7NS: 1 hour; FR Y-7Q 
(quarterly): 1.75 hours; FR Y-7Q (annual): 1.5 hours.
    Number of respondents: FR Y-7N (quarterly): 190; FR Y-7N (annual): 
90; FR Y-7NS: 74; FR Y-7Q (quarterly): 62; FR Y-7Q (annual): 109.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(c)) and sections 8(c) and 13 of the 
International Banking Act (12 U.S.C. 3106(c) and 3108)). Overall, the 
Federal Reserve does not consider these data to be confidential. 
However, individual respondents may request confidential treatment for 
any of these reports pursuant to sections (b)(4), (b)(6), or (b)(8) of 
FOIA (5 U.S.C. 522(b)(4), (b)(6), and (b)(8)). The applicability of 
these exemptions would need to be determined on a case-by-case basis.
    Abstract: The FR Y-7N and FR Y-7NS collect financial information 
for non-functionally regulated U.S. nonbank subsidiaries held by FBOs 
other than through a U.S. BHC, U.S. financial holding company (FHC), or 
U.S. bank. FBOs file the FR Y-7N quarterly or annually or the FR Y-7NS 
annually predominantly based on asset size thresholds. The FR Y-7Q 
collects consolidated regulatory capital information from all FBOs 
either quarterly or annually. The FR Y-7Q is filed quarterly by FBOs 
that have effectively elected to become FHCs and by FBOs that have 
total consolidated assets of $50 billion or more, regardless of FHC 
status. All other FBOs file the FR Y-7Q annually.
    7. Report title: Quarterly Savings and Loan Holding Company Report.
    Agency form number: FR 2320.
    OMB control number: 7100-0345.
    Frequency: Quarterly.
    Reporters: SLHCs.
    Estimated annual reporting hours: 180 hours.
    Estimated average hours per response: 2.5 hours.
    Number of respondents: 18.
    General description of report: This information collection is 
mandatory pursuant to section 312 of the DFA and section 10 of HOLA, as 
amended by section 369 of the DFA, (12 U.S.C. 1467a(b)(2)), as amended 
by Public Law 111-201, 369(8). Data items C572, C573, and C574 on 
Schedule HC may be protected from disclosure under exemption 4 of FOIA 
(5 U.S.C. 552(b)(4)). With regard to the remaining data items on 
Schedule HC, the Federal Reserve has determined that institutions may 
request confidential treatment for any FR 2320 data item or for all FR 
2320 data items, and confidential treatment will be reviewed on a case-
by-case basis.
    Abstract: The FR 2320 collects select parent only and consolidated 
balance sheet and income statement financial data and organizational 
structure date from SLHCs exempt from initially filing Federal Reserve 
regulatory reports. The FR 2320 is used by the Federal Reserve to 
analyze the overall financial condition of exempt SLHCs to ensure safe 
and sound operations.
    8. Report title: Savings Association Holding Company Report.
    Agency form number: FR H-(b)11.
    OMB control number: 7100-0334.
    Frequency: Quarterly.
    Reporters: SLHCs.
    Estimated annual reporting hours: 264 hours.
    Estimated average hours per response: 2 hours.
    Number of respondents: 33.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1467a(b)(2)(A)). The FR H-(b)11 covers 6 different 
items. However, the Federal Reserve has determined that supplemental 
information in response to a ``yes'' answer for the Quarterly Savings 
and Loan Holding Company Report (FR 2320; OMB No. 7100-0345) FR 2320's 
questions 24, 25, and 26 may be protected from disclosure under 
exemption 4 of FOIA, which covers ``trade secrets and commercial or 
financial information obtained from a person [that is] privileged or 
confidential'' (5 U.S.C. 522(b)(4)). Confidential treatment for the 
remaining portion of the reporting information can be requested in 
accordance with the instructions to the form, pursuant to sections 
(b)(4), (b)(6), or (b)(8) of FOIA (5 U.S.C.522(b)(4), (b)(6), and 
(b)(8)).
    Abstract: The FR H-(b)11 collects from exempt SLHCS information on 
filings with the Securities and Exchange Commission (SEC), reports 
provided by the nationally recognized statistical rating organizations 
and securities analysts, supplemental information for select questions 
from the FR 2320, financial statements, and other materially important 
events and exhibits. The Federal Reserve uses the FR H-(b)11 data to 
analyze the overall financial condition of exempt SLHCs to ensure safe 
and sound operations.
    9. Report title: Consolidated Report of Condition and Income for 
Edge and Agreement Corporations.
    Agency form number: FR 2886b.
    OMB control number: 7100-0086.
    Frequency: Quarterly and annually.
    Reporters: Banking Edge and agreement corporations and investment 
(nonbanking) Edge and agreement corporations.
    Estimated annual reporting hours: Banking Edge and agreement 
corporations (quarterly): 424 hours; banking Edge and agreement 
corporations (annual): 15 hours; investment Edge and agreement 
corporations (quarterly): 768 hours; investment Edge and agreement 
corporations (annual): 182 hours.
    Estimated average hours per response: Banking Edge and agreement

[[Page 16389]]

corporations: 15.15 hours; investment Edge and agreement corporations: 
9.60 hours.
    Number of respondents: Banking Edge and agreement corporations 
(quarterly): 7; banking Edge and agreement corporations (annual): 1; 
investment Edge and agreement corporations (quarterly): 20; investment 
Edge and agreement corporations (annual): 19.
    General description of report: This information is mandatory (12 
U.S.C. 602, 625). In addition, with respect to the contact information 
collected in the Patriot Act Contact Information section, the Board's 
regulation's (12 CFR part 211.5(m)) instruct Edge and agreement 
corporations to comply with the information sharing regulations that 
the Department of the Treasury issued pursuant to Section 314(a) of the 
USA Patriot Act of 2001, Public Law 107-56, 115 Stat. 307 (31 U.S.C. 
5318(h)); and implemented at 31 CFR part 1010.520(b).
    For Edge corporations engaged in banking, current Schedules RC-M 
(with the exception of item 3) and RC-V are held confidential pursuant 
to Section (b)(4) of FOIA (5 U.S.C. 552(b)(4)). For investment Edge 
corporations, only information collected on Schedule RC-M (with the 
exception of item 3) are given confidential treatment pursuant to 
Section (b)(4) of FOIA (5 U.S.C. 552(b)(4)).
    In addition, the information provided in the Patriot Act Contact 
Information section may be withheld as confidential under FOIA to 
prevent unauthorized individuals from falsely posing as an 
institution's point-of-contact in order to gain access to the highly 
sensitive and confidential communications sent by email between the 
Financial Crimes Enforcement Network or federal law enforcement 
officials and the Patriot Act point-of-contact. The identity and 
contact information of private individuals, which is collected and 
maintained for law enforcement purposes under the Patriot Act, may be 
exempt from disclosure pursuant to exemption 7(C) of FOIA (5 U.S.C. 
552(b)(7)(C)). Lastly, the language indicating that the Emergency 
Contact information will not be released to the public will be removed.
    Abstract: The FR 2886b collects quarterly financial data from 
banking Edge and agreement corporations and investment (nonbanking) 
Edge and agreement corporations. Except for examination reports, it 
provides the only financial data available for these corporations. The 
Federal Reserve is solely responsible for authorizing, supervising, and 
assigning ratings to Edge and agreement corporations. The Federal 
Reserve uses the data collected on the FR 2886b to identify present and 
potential problems and monitor and develop a better understanding of 
activities within the industry.
    Current Actions: The Federal Reserve proposes to add questions 
regarding confidential treatment in the form of check boxes to all of 
the reports listed above so institutions may indicate whether they are 
requesting confidential treatment for any portion of the data provided, 
and whether they are submitting a formal justification with the data or 
separately. The proposed revision would enhance existing processes 
related to the handling of data confidentiality requests. The questions 
regarding confidential treatment in the form of check boxes would be 
effective June 30, 2015.

    Board of Governors of the Federal Reserve System, March 24, 
2015.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2015-07067 Filed 3-26-15; 8:45 am]
 BILLING CODE 6210-01-P


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