[Federal Register Volume 87, Number 33 (Thursday, February 17, 2022)]
[Notices]
[Page 9053]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-03470]


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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 
Holding Company Report of Insured Depository Institutions' Section 23A 
Transactions with Affiliates (FR Y-8 OMB No. 7100-0126).

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, Washington, DC 20551, (202) 452-3829.
    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, 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/reportforms/review.aspx 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

    Report title: Holding Company Report of Insured Depository 
Institutions' Section 23A Transactions with Affiliates.
    Agency form number: FR Y-8.
    OMB control number: 7100-0126.
    Frequency: Quarterly.
    Respondents: U.S. top-tier bank holding companies (BHCs), 
intermediate holding companies (IHCs), and savings and loan holding 
companies (SLHCs); foreign banking organizations (FBOs) that directly 
own or control a U.S. subsidiary insured depository institution.
    Estimated number of respondents: Reporting, 692; recordkeeping, 
692.
    Estimated average hours per response: Reporting, 7.3; 
recordkeeping, 0.5.
    Estimated annual burden hours: 21,590.
    General description of report: The FR Y-8 collects information on 
covered transactions between an insured depository institution and its 
affiliates that are subject to the quantitative limits and other 
requirements of section 23A of the Federal Reserve Act (12 U.S.C. 371c) 
and the Board's Regulation W--Transactions Between Member Banks and 
Their Affiliates (12 CFR part 223). The data to be reported vary based 
on the activities and subsidiaries of the insured depository 
institution. A respondent must file a separate FR Y-8 report for each 
U.S. insured depository institution it controls.
    Legal authorization and confidentiality: Section 5(c) of the Bank 
Holding Company Act authorizes the Board to require BHCs and IHCs to 
file the FR Y-8.\1\ Section 10(b)(2) of the Home Owners' Loan Act 
authorizes the Board to require SLHCs to file the FR Y-8.\2\ Section 
8(a) of the International Banking Act authorizes the Board to require 
FBOs that directly own or control a U.S. subsidiary insured depository 
institution to file the FR Y-8.\3\ Information provided on the FR Y-8 
may be kept confidential under exemption 4 of the Freedom of 
Information Act (FOIA) as confidential commercial or financial 
information that is both customarily and actually treated as 
private.\4\ Information collected on the FR Y-8 may also be considered 
confidential under FOIA exemption 8 if it is obtained as part of an 
examination or supervision of a financial institution.\5\
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    \1\ 12 U.S.C. 1844(c).
    \2\ 12 U.S.C. 1467a(b)(2).
    \3\ 12 U.S.C. 3106(a).
    \4\ 5 U.S.C. 552(b)(4).
    \5\ 5 U.S.C. 552(b)(8).
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    The FR Y-8 report is mandatory for respondents that control an 
insured depository institution that has engaged in covered transactions 
with an affiliate during the reporting period.
    Current actions: On October 18, 2021, the Board published a notice 
in the Federal Register (86 FR 57675) requesting public comment for 60 
days on the extension, without revision, of the Holding Company Report 
of Insured Depository Institutions' Section 23A Transactions with 
Affiliates. The comment period for this notice expired on December 17, 
2021. The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, February 14, 
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-03470 Filed 2-16-22; 8:45 am]
BILLING CODE 6210-01-P