[Federal Register Volume 83, Number 1 (Tuesday, January 2, 2018)]
[Notices]
[Pages 123-125]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-28290]


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FEDERAL RESERVE SYSTEM


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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[[Page 124]]

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, with revision, 
the mandatory Financial Statements for Holding Companies (FR Y-9; OMB 
No. 7100-0128).
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board 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. 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.

DATES: Comments must be submitted on or before March 5, 2018.

ADDRESSES: You may submit comments, identified by FR Y-9C, FR Y-9LP, FR 
Y-9SP, FR Y-9ES, or FR Y-9CS, by any of the following methods:
    <bullet> Agency website: 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#fd8f989a8ed39e9290909893898ebd9b9899988f9c918f988e988f8b98d39a928b"><span class="__cf_email__" data-cfemail="37455250441954585a5a52594344775152535245565b4552445245415219505841">[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: 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 
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 website 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 Clearance Officer--Nuha Elmaghrabi--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 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 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 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 Federal 
Reserve should modify the proposal prior to giving final approval.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, With Revision, of the Following Report

    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 Statement for Employee Stock Ownership Plan Holding 
Companies, and the Supplement to the Consolidated Financial Statements 
for Holding Companies.
    Agency form number: FR Y-9C, FR Y-9LP, FR Y-9SP, FR Y-9ES, and FR 
Y-9CS.
    OMB control number: 7100-0128.
    Frequency: Quarterly and semiannually.
    Reporters: Bank holding companies (BHCs), savings and loan holding 
companies (SLHCs), securities holding companies (SHCs), and U.S. 
Intermediate Holding Companies (IHCs) (collectively, holding companies 
(HCs)).
    Estimated annual reporting hours: FR Y-9C (non-advanced approaches 
holding companies): 125,357 hours; FR Y-9C (advanced approached holding 
companies): 3,556 hours; FR Y-9LP: 16,969 hours; FR Y-9SP: 42,919; FR 
Y-9ES: 42 hours; FR Y-9CS: 472 hours.
    Estimated average hours per response: FR Y-9C (non-advanced 
approaches holding companies): 48.14 hours; FR Y-9C (advanced 
approached holding companies HCs): 49.39 hours; FR Y-9LP: 5.27 hours; 
FR Y-9SP: 5.40 hours FR Y-9ES: 0.50 hours; FR Y-9CS: 0.50 hours.
    Number of respondents: FR Y-9C (non-advanced approaches holding 
companies): 651; FR Y-9C (advanced approached holding companies): 18; 
FR Y-9LP: 805; FR Y-9SP: 3,974 FR Y-9ES: 84; FR Y-9CS: 236.
    General description of report: Pursuant to the Bank Holding Company 
Act of 1956 (BHC Act), as amended, and the Home Owners' Loan Act 
(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 FRY-9C and FR 
Y-9LP quarterly, and the FR Y-9SP semiannually, the FR Y-9ES annually, 
and the FR Y-9CS on a schedule that is determined when this supplement 
is used.
    Proposed revisions: The Board proposes a number of revisions to the 
FR Y-9C requirements, most of which are consistent with proposed 
changes to the Federal Financial Institutions Examination Council 
(FFIEC) Consolidated Reports of Condition and Income (Call Reports) 
(FFIEC 031, FFIEC 041, and FFIEC 051; OMB No. 7100-0036). The proposed 
revisions to the FR Y-9C include deletions and consolidations of 
existing data items into new data items, reductions in reporting 
frequency, and new and

[[Page 125]]

revised reporting thresholds for certain data items. The Board also 
proposes to make changes to the reporting forms and instructions for 
the FR Y-9C, FR Y-9LP, and FR Y-9SP to implement accounting changes 
pertaining to equity securities under Accounting Standards update (ASU 
No. 2016-01, ``Recognition and Measurement of Financial Assets and 
Financial Liabilities.''). The accounting changes pertaining to equity 
securities would be effective beginning with the reports reflecting the 
March 31, 2018, report date and June 30, 2018 for all other changes. 
The proposed changes include:
    <bullet> Deleting and combining of certain data items pertaining to 
(1) Goodwill and Other intangible assets from Schedule HC, Balance 
Sheet; (2) U.S. Government agency obligations and structured financial 
products from Schedule HC-B, Securities; (3) Structured financial 
products and certain loans and the unpaid principal balance of such 
loans on Schedule HC-D, Trading Assets; (4) Certain over-the counter 
derivatives on Schedule HC-L, Derivatives and Off-Balance sheet items, 
and (5) Purchased credit card relationships and nonmortgage servicing 
assets from Schedule HC-M, Memoranda;
    <bullet> Deleting two preprinted captions for other noninterest 
income on Schedule HI, Income Statement and certain data items on 
Schedule HC-D, Trading Assets and Liabilities;
    <bullet> Deleting Column B (Domestic Office) from Schedule HC-D, 
Trading Assets and Liabilities
    <bullet> Reducing the reporting frequency from quarterly to 
semiannual and from quarterly to annual for certain data items on the 
FR Y-9C report
    <bullet> Increasing and adding reporting thresholds for certain 
data items in four FR Y-9C schedules
    <bullet> Revising the reporting forms and instructions to implement 
the reporting of equity securities under ASU-2016-01 and
    <bullet> Moving ``Goodwill'' from Schedule HC to Schedule HC-M, 
Memoranda.
    Legal authorization and confidentiality: The Board's Legal Division 
has determined that the FR Y-9 family of reports is authorized by 
section 5(c) of the Bank Holding Company Act (12 U.S.C. 1844(c)), 
section 10 of Home Owners' Loan Act (12 U.S.C. 1467a(b) and 
1850a(c)(1)), section 165 of the Dodd-Frank Act (12 U.S.C. 5365), and 
section 252.153(b)(2) of Regulation YY (12 CFR 252.153(b)(2)). The 
obligation of covered HCs to report this information is mandatory. In 
general, the Board does not consider the financial data in these 
reports to be confidential. However, a respondent may request 
confidential treatment pursuant to sections (b)(4), (b)(6), and (b)(8) 
of the Freedom of Information Act (5 U.S.C. 552(b)(4), (b)(6), and 
(b)(8)). The applicability of these exemptions would need to be 
reviewed on a case by case basis.

    Board of Governors of the Federal Reserve System, December 27, 
2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-28290 Filed 12-29-17; 8:45 am]
 BILLING CODE 6210-01-P


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