[Federal Register Volume 75, Number 176 (Monday, September 13, 2010)]
[Notices]
[Pages 55580-55582]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-22676]


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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.

[[Page 55581]]

Copies of the Paperwork Reduction Act (PRA) 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--Shagufta Ahmed--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: Surveys of Board Publications.
    Agency form number: FR 1373a,b.
    OMB control number: 7100-0301.
    Frequency: FR 1373a survey, one or two times per year; FR 1373a 
discussion groups, two times a year. FR 1373b small-panel survey, two 
times a year; FR 1373b large-panel survey, one time per year.
    Reporters: FR 1373a--community-based educators, key stakeholders, 
and other educators who have previously requested consumer education 
materials from the Federal Reserve. FR 1373b--current subscribers of 
the publications being surveyed.
    Estimated annual reporting hours: FR 1373a survey, 375 hours; FR 
1373a discussion groups, 60 hours. FR 1373b small-panel, 6 hours; FR 
1373b large-panel 32 hours.
    Estimated average hours per response: FR 1373a survey, 30 minutes; 
FR 1373a discussion groups, 90 minutes. FR 1373b small-panel, 10 
minutes; FR 1373b large-panel 10 minutes.
    Number of respondents: FR 1373a survey, 500; FR 1373a panel 
discussion, 20. FR 1373b small-panel, 20; FR 1373b large-panel, 200.
    General description of report: This information collection is 
voluntary. The FR 1373a study is authorized pursuant to section 18(f) 
of the Federal Trade Commission Improvement Act (15 U.S.C. 57a (f)). 
The FR 1373b study is authorized pursuant to the Federal Reserve Act 
(12 U.S.C. 248(i)). The specific information collected is not 
considered confidential.
    Abstract: The Federal Reserve uses the FR 1373a to (1) conduct 
periodic reviews and evaluations of the consumer education materials 
and (2) develop and evaluate consumer education materials under 
consideration for distribution. The FR 1373b data help the Federal 
Reserve determine if it should continue to issue certain publications 
and, if so, whether the public would like to see changes in the method 
of information delivery, frequency, content, format, or appearance.
    Current Actions: On June 25, 2010, the Federal Reserve published a 
notice in the Federal Register (75 FR 36393) seeking public comment for 
60 days on the extension, without revision, of the Surveys of Board 
Publications. The comment period for this notice expired on August 24, 
2010. The Federal Reserve did not receive any comments.
    2. Report title: Interagency Bank Merger Act Application.
    Agency form number: FR 2070.
    OMB control number: 7100-0171.
    Frequency: On occasion.
    Reporters: State member banks.
    Estimated annual reporting hours: Nonaffiliate Transactions, 1,470 
hours; Affiliate Transactions, 216 hours.
    Estimated average hours per response: Nonaffiliate Transactions, 30 
hours; Affiliate Transactions, 18 hours.
    Number of respondents: Nonaffiliate Transactions, 49; Affiliate 
Transactions, 12.
    General description of report: This information collection is 
mandatory. The FR 2070 is pursuant to section 18(c) of the Federal 
Deposit Insurance Act (12 U.S.C. 1828(c)) and is not given confidential 
treatment. However, applicants may request that parts of a submitted 
application be kept confidential. In such cases, the burden is on the 
applicant to justify the exemption by demonstrating that disclosure 
would cause substantial competitive harm or result in an unwarranted 
invasion of personal privacy or would otherwise qualify for an 
exemption under the Freedom of Information Act (5 U.S.C. 552(b)(4), 
(b)(6)). The confidentiality status of the information submitted will 
be judged on a case-by-case basis.
    Abstract: The Federal Reserve, the Office of the Comptroller of the 
Currency, the Federal Deposit Insurance Corporation, and the Office of 
Thrift Supervision each use this application form to collect 
information for bank merger proposals that require prior approval under 
the Bank Merger Act. Prior approval is required for every merger 
transaction involving affiliated or nonaffiliated institutions and must 
be sought from the regulatory agency of the depository institution that 
would survive the proposed transaction. A merger transaction may 
include a merger, consolidation, assumption of deposit liabilities, or 
certain asset-transfers between or among two or more institutions. The 
Federal Reserve collects this information so that it may meet its 
statutory obligation to evaluate the competitive, financial, 
managerial, future prospects, and convenience and needs aspects of each 
state member bank merger proposal.
    Current Actions: On June 25, 2010, the Federal Reserve published a 
notice in the Federal Register (75 FR 36393) seeking public comment for 
60 days on the extension, without revision, of the Interagency Bank 
Merger Act Application. The comment period for this notice expired on 
August 24, 2010. The Federal Reserve did not receive any comments.
    3. Report title: Interagency Notice of Change in Control, 
Interagency Notice of Change in Director or Senior Executive Officer, 
and Interagency Biographical and Financial Report.
    Agency form number: FR 2081a, FR 2081b, and FR 2081c.
    OMB control number: 7100-0134.
    Frequency: On occasion.
    Reporters: Financial institutions and certain of their officers and 
shareholders.
    Annual reporting hours: FR 2081a, 3,570 hours; FR 2081b, 272 hours; 
FR 2081c, 3,572 hours.
    Estimated average hours per response: FR 2081a, 30 hours; FR 2081b, 
2 hours; FR 2081c, 4 hours.
    Number of respondents: FR 2081a, 119; FR 2081b, 136; FR 2081c, 893.
    General description of report: This information collection is 
mandatory pursuant to section 7(j) of the Federal Deposit Insurance Act 
(12 U.S.C. 1817(j)) and section 914 of the Financial Institutions 
Reform, Recovery, and Enforcement Act (12 U.S.C. 1831(i)) and is not 
given confidential treatment. However, applicants may request that 
parts of a submitted application be kept confidential. In such cases, 
the burden is on the applicant to justify the exemption by 
demonstrating that disclosure would cause substantial competitive harm 
or result in an unwarranted invasion of personal privacy or would 
otherwise qualify for an exemption under the Freedom of Information Act 
(5 U.S.C. 552(b)(4), (b)(6)). The confidentiality status of the 
information submitted will be judged on a case-by-case basis.

[[Page 55582]]

    Abstract: The information collected assists the Federal Reserve, 
the Office of the Comptroller of the Currency, the Federal Deposit 
Insurance Corporation, and the Office of Thrift Supervision in 
fulfilling their statutory responsibilities as supervisors. Each of 
these forms is used to collect information in connection with 
applications and notices filed prior to proposed changes in the 
ownership or management of banking organizations. The agencies use the 
information to evaluate the controlling owners, senior officers, and 
directors of the insured depository institutions subject to their 
oversight.
    Current Actions: On June 25, 2010, the Federal Reserve published a 
notice in the Federal Register (75 FR 36393) seeking public comment for 
60 days on the extension, without revision, of the FR 2081a, b, c. The 
comment period for this notice expired on August 24, 2010. The Federal 
Reserve did not receive any comments.
    4. Report title: Recordkeeping and Disclosure Requirements 
Associated with Regulation R.
    Agency form number: FR 4025.
    OMB control number: 7100-0316.
    Frequency: On occasion.
    Reporters: Commercial banks and savings associations.
    Estimated annual reporting hours: Section 701, disclosures to 
customers--12,500 hours; Section 701, disclosures to brokers--375 
hours; Section 723, recordkeeping--188 hours; Section 741, disclosures 
to customers--62,500 hours.
    Estimated average hours per response: Section 701, disclosures to 
customers--5 minutes; Section 701, disclosures to brokers--15 minutes; 
Section 723, recordkeeping--15 minutes; Section 741, disclosures to 
customers--5 minutes.
    Number of respondents: Section 701, disclosures to customers--
1,500; Section 701, disclosures to brokers--1,500; Section 723, 
recordkeeping--75; Section 741, disclosures to customers--750.
    General description of report: This information collection is 
required to obtain a benefit pursuant to section 3(a)(4)(F) of the 
Securities Exchange Act (15 U.S.C. 78c(a)(4)(F)) and may be given 
confidential treatment under the authority of the Freedom of 
Information Act (5 U.S.C. 552(b)(4), (b)(8)).
    Abstract: Regulation R implements certain exceptions for banks from 
the definition of broker under Section 3(a)(4) of the Securities 
Exchange Act of 1934, as amended by the Gramm-Leach-Bliley Act. 
Sections 701, 723, and 741 of Regulation R contain information 
collection requirements. Section 701 requires banks that wish to 
utilize the exemption in that section to make certain disclosures to 
the high net worth customer or institutional customer. In addition, 
section 701 requires banks that wish to utilize the exemption in that 
section to provide a notice to its broker-dealer partner regarding 
names and other identifying information about bank employees. Section 
723 requires a bank that chooses to rely on the exemption in that 
section to exclude certain trust or fiduciary accounts in determining 
its compliance with the chiefly compensated test in section 721 to 
maintain certain records relating to the excluded accounts. Section 741 
requires a bank relying on the exemption provided by that section to 
provide customers with a prospectus for the money market fund 
securities, not later than the time the customer authorizes the bank to 
effect the transaction in such securities, if the class of series of 
securities are not no-load.
    Current Actions: On June 25, 2010, the Federal Reserve published a 
notice in the Federal Register (75 FR 36393) seeking public comment for 
60 days on the extension, without revision, of the FR 4025. The comment 
period for this notice expired on August 24, 2010. The Federal Reserve 
did not receive any comments.

    Board of Governors of the Federal Reserve System, September 7, 
2010.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2010-22676 Filed 9-10-10; 8:45 am]
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