[Federal Register Volume 87, Number 41 (Wednesday, March 2, 2022)]
[Notices]
[Pages 11706-11707]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-04345]


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FEDERAL RESERVE SYSTEM

[FR 4008; OMB No. 7100-0131]


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Notice of Proposed Stock Redemption.

DATES: Comments must be submitted on or before May 2, 2022.

ADDRESSES: You may submit comments, identified by FR 4008, by any of 
the following methods:
    <bullet> Agency website: https://www.federalreserve.gov/. Follow 
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
    <bullet> Email: <a href="/cdn-cgi/l/email-protection#f785929084d994989a9a92998384b79192939285969b85928492858192d9909881"><span class="__cf_email__" data-cfemail="d1a3b4b6a2ffb2bebcbcb4bfa5a291b7b4b5b4a3b0bda3b4a2b4a3a7b4ffb6bea7">[email protected]</span></a>. Include the OMB 
number or FR number in the subject line of the message.
    <bullet> Fax: (202) 452-3819 or (202) 452-3102.
    <bullet> Mail: Ann E. Misback, 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 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. 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 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, Washington, DC 20551, (202) 
452-3829.

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, and other documentation, will be 
made available on the 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 
versions of these documents will be made available at https://www.reginfo.gov/public/do/PRAMain, if approved.

[[Page 11707]]

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

    Report title: Notice of Proposed Stock Redemption.
    Agency form number: FR 4008.
    OMB control number: 7100-0131.
    Frequency: On occasion.
    Respondents: Bank holding companies (BHCs).
    Estimated number of respondents: 6.
    Estimated average hours per response: 15.5.
    Estimated annual burden hours: 93.
    General description of report: The Bank Holding Company Act of 1956 
(BHC Act) and Board's Regulation Y--Bank Holding Companies and Change 
in Bank Control (12 CFR 225) require a BHC to seek the prior approval 
of the Board before purchasing or redeeming its equity securities in 
certain circumstances. Due to the limited information that a BHC must 
provide in connection with any such request, there is no required 
reporting form (the FR 4008 designation is for internal purposes only), 
and each request for prior approval is generally filed 30 days before 
the proposed stock purchase or redemption as a notification with the 
Reserve Bank that has direct supervisory responsibility for the 
requesting BHC. The Federal Reserve uses the information provided in 
the redemption notices to supervise BHCs.
    Legal authorization and confidentiality: The FR 4008 is authorized 
pursuant to sections 5(b) and (c) of the Bank Holding Company Act (BHC 
Act).\1\ Section 5(b) of the BHC Act, as amended by section 616 of the 
Dodd-Frank Wall Street Reform and Consumer Protection Act,\2\ 
authorizes the Board to ``issue such regulations and orders, including 
regulations and orders relating to the capital requirements for bank 
holding companies, as may be necessary to enable it to administer and 
carry out the purposes of this chapter and prevent evasions thereof.'' 
Section 5(c) of the BHC Act generally authorizes the Board to, among 
other things, require reports from BHCs on a range of issues. The FR 
4008 is required for certain BHCs to obtain the benefit of being able 
to purchase or redeem their equity securities.
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    \1\ 12 U.S.C. 1844(b) and (c).
    \2\ Public Law 111-203, 124 Stat. 1376 (2010).
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    Individual respondents may request that data submitted be kept 
confidential on a case-by-case basis. If a respondent requests 
confidential treatment, the Board will determine whether the 
information is entitled to confidential treatment on an ad hoc basis. 
Requests may include information related to the BHC's business 
operations, such as terms and sources of the funding for the redemption 
and pro forma balance sheets. To the extent that this information 
constitutes nonpublic commercial or financial information, which is 
both customarily and actually treated as private by the respondent, it 
may be kept confidential under exemption 4 of the Freedom of 
Information Act, which exempts ``trade secrets and commercial or 
financial information obtained from a person and privileged or 
confidential.'' \3\
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    \3\ 5 U.S.C. 552(b)(4).

    Board of Governors of the Federal Reserve System, February 24, 
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-04345 Filed 3-1-22; 8:45 am]
BILLING CODE 6210-01-P


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