[Federal Register Volume 87, Number 100 (Tuesday, May 24, 2022)]
[Notices]
[Pages 31557-31558]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-11097]


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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 
Notice of Proposed Declaration of Dividend (FR 1583; OMB No. 7100-
0339).

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

    Collection title: Notice of Proposed Declaration of Dividend.
    Collection identifier: FR 1583.
    OMB control number: 7100-0339.
    Frequency: Event-generated.
    Respondents: Savings association subsidiaries of savings and loan 
holding companies (SLHCs).
    Estimated number of respondents: 180.
    Estimated average hours per response: 0.25.
    Estimated annual burden hours: 90.
    General description of collection: A savings association subsidiary 
of an SLHC must provide prior notice of the proposed declaration of a 
dividend by filing form FR 1583, whether electronically or by hard 
copy, with the appropriate Reserve Bank. The FR 1583 requires 
information regarding the date of the filing and the nature and amount 
of the proposed dividend, as well as the names and signatures of the 
executive officer and secretary of the savings association that is 
providing the notice. The FR 1583 notice may include a schedule 
proposing dividends over a period specified by the notificant, not to 
exceed 12 months.
    Legal authorization and confidentiality: The FR 1583 is authorized 
by Section 10(f) of the Home Owners' Loan Act (HOLA).\1\ Section 10(f) 
of HOLA provides that every subsidiary savings association of an SLHC 
shall give the Board at least 30 days' advance notice of the proposed 
declaration by its directors of any dividend on its guaranty, 
permanent, or other nonwithdrawable stock. Additionally, Section 10(b) 
of HOLA authorizes the Board to require SLHCs to file ``such reports as 
may be required by the Board.'' \2\ The FR 1583 is mandatory.
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    \1\ 12 U.S.C. 1467a(f).
    \2\ 12 U.S.C. 1467a(b). See 12 U.S.C. 1467a(g).
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    Individual respondents may request confidential treatment for 
information submitted on the FR 1583 in accordance with the Board's 
Rules Regarding

[[Page 31558]]

Availability of Information,\3\ and such requests will be reviewed on a 
case-by-case basis. Information submitted on the FR 1583 may be related 
to the SLHC's business operations, such as terms and sources of the 
funding for dividends 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.\4\
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    \3\ 12 CFR 261.17.
    \4\ 5 U.S.C. 552(b)(4).
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    Current actions: On January 28, 2022, the Board published a notice 
in the Federal Register (87 FR 4595) requesting public comment for 60 
days on the extension, without revision, of the FR 1583. The comment 
period for this notice expired on March 29, 2022. The Board did not 
receive any comments.

    Board of Governors of the Federal Reserve System, May 17, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-11097 Filed 5-23-22; 8:45 am]
BILLING CODE 6210-01-P