[Federal Register Volume 73, Number 162 (Wednesday, August 20, 2008)]
[Notices]
[Pages 49204-49205]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-19188]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

SUMMARY: Background. Notice is hereby given of the final approval of 
proposed information collections by the Board of Governors of the 
Federal Reserve System (Board) under OMB delegated authority, as per 5 
CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the 
Public). Board-approved collections of information are incorporated 
into the official OMB inventory of currently approved collections of 
information. Copies of the Paperwork Reduction Act Submission, 
supporting statements and approved collection of information 
instrument(s) 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.

FOR FURTHER INFORMATION CONTACT: 
    Federal Reserve Board Clearance Officer--Michelle Shore--Division 
of Research and Statistics, Board of Governors of the Federal Reserve 
System, Washington, DC 20551 (202-452-3829).
    OMB Desk Officer--Alexander T. Hunt--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following reports:
    1. Report title: Notifications Related to Community Development and 
Public Welfare Investments of State Member Banks.
    Agency form number: FR H-6.
    OMB control number: 7100-0278.
    Frequency: Event-generated.
    Reporters: State member banks.
    Annual reporting hours: 86.
    Estimated average hours per response: Investment notice, 2 hours; 
application (prior approval) 5 hours; and extension of divestiture 
period, 5 hours.
    Number of respondents: Investment notice, 38; application (prior 
approval), 1; and extension of divestiture period, 1.
    General description of report: This information collection is 
required to obtain a benefit (12 U.S.C. 338a and 12 CFR 208.22). 
Individual respondent data generally are not regarded as confidential 
but information that is proprietary or concerns examination ratings 
would be considered confidential.
    Abstract: Regulation H requires state member banks that want to 
make community development or public welfare investments to comply with 
the Regulation H notification requirements: (1) If the investment does 
not require prior Board approval, a written notice must be sent to the 
appropriate Federal Reserve Bank; (2) if certain criteria are not met, 
a request for approval must be sent to the appropriate Federal Reserve 
Bank; and, (3) if the Board orders divestiture but the bank cannot 
divest within the established time limit, a request or requests for 
extension of the divestiture period must be submitted to the 
appropriate Federal Reserve Bank.
    Current Actions: On June 3, 2008, the Federal Reserve published a 
notice in the Federal Register (73 FR 31684) requesting public comment 
for 60 days on the extension, without revision, of the FR H-6 
information collection. The comment period for this notice expired on 
August 4, 2008. The Federal Reserve did not receive any comments.
    Proposal to approve under OMB delegated authority the extension for 
three years, with revision, of the following reports:
    1. Report title: Application for Membership in the Federal Reserve 
System.
    Agency form number: FR 2083, 2083A, 2083B, and 2083C.
    OMB control number: 7100-0046.
    Frequency: On occasion.
    Reporters: Newly organized banks that seek to become state member 
banks, or existing banks or savings institutions that seek to convert 
to state member bank status.
    Annual reporting hours: 260 hours.
    Estimated average hours per response: 4 hours.
    Number of respondents: 65.
    General description of report: This information collection is 
authorized by Section 9 of the Federal Reserve Act (12 U.S.C. 321, 322, 
and 333) and is required to obtain or retain a benefit. Most individual 
respondent data are not considered confidential. Applicants may, 
however, request that parts of their membership applications be kept 
confidential, but in such cases the Applicant must justify its request 
by demonstrating how an exemption under the Freedom of Information Act 
(FOIA) is satisfied. The confidentiality status of the information 
submitted will be judged on a case-by-case basis.
    Abstract: The application for membership is a required one-time 
submission that collects the information necessary for the Federal 
Reserve to evaluate the statutory criteria for admission of a new or 
existing state bank into membership in the Federal Reserve System. The 
application collects managerial, financial, and structural data.
    Current actions: On June 3, 2008, the Federal Reserve published a 
notice in the Federal Register (73 FR 31684) requesting public comment 
for 60 days on the extension, with revision, of the applications. The 
comment period for this notice expired on August 4, 2008. The Federal 
Reserve did not receive any comments. The revisions will be implemented 
as proposed.
    2. Report title: Applications for Subscription to, Adjustment in 
the Holding of, and Cancellation of Federal Reserve Bank Stock.
    Agency form number: FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, 
and FR 2087.
    OMB control number: 7100-0042.
    Frequency: On occasion.
    Reporters: National, state member, and nonmember banks.
    Annual reporting hours: FR 2030, 15 hours; FR 2030a, 26 hours; FR 
2056, 864 hours; FR 2086, 1 hour; FR 2086a, 18 hours; and FR 2087, 2 
hours.
    Estimated average hours per response: 0.5 hours.
    Number of respondents: FR 2030, 30; FR 2030a, 52; FR 2056, 1,728; 
FR 2086, 2; FR 2086a, 36; and FR 2087, 4.
    General description of report: These information collections are 
mandatory.
    <bullet> FR 2030 and FR 2030a: (12 U.S.C. Sec. Sec.  222, 282, 
248(a), and 321);

[[Page 49205]]

    <bullet> FR 2056: (12 U.S.C. 287, 248(a) and (i));
    <bullet> FR 2086: (12 U.S.C. 287, 248(a) and (i));
    <bullet> FR 2086a: (12 U.S.C. 321, 287, and 248(a)); and
    <bullet> FR 2087: (12 U.S.C. 288 and 248 (a) and (i)).
    Most individual respondent data are not considered confidential. 
Applicants may, however, request that parts of their membership 
applications be kept confidential, but in such cases the Applicant must 
justify its request by demonstrating how an exemption under the FOIA is 
satisfied. The confidentiality status of the information submitted will 
be judged on a case-by-case basis.
    Abstract: These application forms are required by the Federal 
Reserve Act and Regulation I. These forms must be used by a new or 
existing member bank (including a national bank) to request the 
issuance, and adjustment in, or cancellation of Federal Reserve Bank 
stock. The forms must contain certain certifications by the applicants, 
as well as certain other financial and shareholder data that is needed 
by the Federal Reserve to process the request.
    Current actions: On June 3, 2008, the Federal Reserve published a 
notice in the Federal Register (73 FR 31684) requesting public comment 
for 60 days on the extension, with revision, of the applications. The 
comment period for this notice expired on August 4, 2008. The Federal 
Reserve did not receive any comments.
    The Federal Reserve proposed to add additional signature lines the 
FR 2030, 2030a, 2056, and 2086a that were intended to facilitate the 
processing of each application form by the appropriate Reserve Bank. 
However, after further review the Federal Reserve decided to remove 
from consideration the proposed additional signature lines because it 
could create greater confusion for the banks while adding little 
benefit to the Federal Reserve.
    3. Report title: Report of Changes in Organizational Structure, 
Supplement to the Report of Changes in Organizational Structure, Annual 
Report of Bank Holding Companies, Annual Report of Foreign Banking 
Organizations.
    Agency form numbers: FR Y-10, FR Y-10E, FR Y-6, and FR Y-7.
    OMB control number: 7100-0297.
    Frequency: Event-generated, annual.
    Reporters: Bank holding companies (BHCs), foreign banking 
organizations (FBOs), member banks, Edge and agreement corporations.
    Annual reporting hours: FR Y-10, 26,712 hours; FR Y-10E, 1,384 
hours; FR Y-6, 27,069 hours; and FR Y-7, 900 hours.
    Estimated average hours per response: FR Y-10, 1.00 to 1.25 hours; 
FR Y-10E, 0.50 hours; FR Y-6, 5.25 hours; and FR Y-7, 3.50 hours.
    Number of respondents: FR Y-10, 5,952; FR Y-10E, 2,768; FR Y-6, 
5,156; and FR Y-7, 257.
    General description of report: These information collections are 
mandatory under the Federal Reserve Act, the BHC Act, and the 
International Banking Act (12 U.S.C. 248 (a)(1), 321, 601, 602, 611a, 
615, 625, 1843(k), 1844(c)(1)(A), 3106(a), and 3108(a)), and 
Regulations K and Y (12 CFR 211.13(c), 225.5(b), and 225.87). 
Individual respondent data are not considered confidential. However, 
respondents may request confidential treatment for any information that 
they believe is subject to an exemption from disclosure under the FOIA, 
5 U.S.C. 552(b).
    Abstract: The FR Y-10 is an event-generated information collection 
submitted by FBOs; top-tier BHCs; state member banks unaffiliated with 
a BHC; Edge and agreement corporations that are not controlled by a 
member bank, a domestic BHC, or a FBO; and nationally chartered banks 
that are not controlled by a BHC (with regard to their foreign 
investments only), to capture changes in their regulated investments 
and activities. The Federal Reserve uses the data to monitor structure 
information on subsidiaries and regulated investments of these entities 
engaged in banking and nonbanking activities. The FR Y-10E is a free-
form supplement that may be used to collect additional structural 
information deemed to be critical and needed in an expedited manner.
    The FR Y-6 is an annual information collection submitted by top-
tier BHCs and nonqualifying FBOs. It collects financial data, an 
organization chart, verification of domestic branch data, and 
information about shareholders. The Federal Reserve uses the data to 
monitor holding company operations and determine holding company 
compliance with the provisions of the BHC Act and Regulation Y (12 CFR 
225).
    The FR Y-7 is an annual information collection submitted by 
qualifying FBOs to update their financial and organizational 
information with the Federal Reserve. The Federal Reserve uses 
information to assess an FBO's ability to be a continuing source of 
strength to its U.S. operations and to determine compliance with U.S. 
laws and regulations.
    Current Actions: On June 3, 2008, the Federal Reserve published a 
notice in the Federal Register (73 FR 31684) requesting public comment 
for 60 days on the extension, with revision, of these information 
collections. The comment period for this notice expired on August 4, 
2008. The Federal Reserve did not receive any comments. The revisions 
will be implemented as proposed.

    Board of Governors of the Federal Reserve System, August 14, 
2008.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E8-19188 Filed 8-19-08; 8:45 am]
BILLING CODE 6210-01-P