Source: https://www.federalregister.gov/documents/2004/06/25/04-14417/agency-information-collection-activities-announcement-of-board-approval-under-delegated-authority
Timestamp: 2018-03-20 00:55:15
Document Index: 330935058

Matched Legal Cases: ['§ 1843', '§ 3106', '§ 1843', '§ 1843', '§ 3106', '§ 335', '§ 1843', '§ 1843', '§ 602', '§ 552', '§ 552']

https://www.federalregister.gov/d/04-14417 https://www.federalregister.gov/d/04-14417
Acting Federal Reserve Clearance Officer - Michelle Long, Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, DC 20551 (202-452-3829).
OMB Desk Officer - Mark Menchik, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, Washington, DC 20503.
1. Report title: Notice of Proposed Stock Redemption
Annual reporting hours: 171 hours
2. Report title: Filings Related to the Gramm-Leach-Bliley Act
Agency form number: FR 4010, FR 4011, FR 4012, FR 4017, FR 4019
Reporters: Bank holding companies, including financial holding companies foreign banking organizations, and state member banks
Annual reporting hours: 3,142 hours
Estimated average hours per response: FR 4010: BHC 3 hours, FBOs 3.5 hours; FR 4011: Activities financial in nature, or incidental or complementary to financial activities 10 hours, Advisory opinions 10 hours; FR 4012: BHCs decertified as FHCs 1 hour, FHCs back into compliance 10 hours; FR 4017: SMBs 4 hours; FR 4019: Regulatory relief requests 1 hour, Portfolio company notification 1 hour; Recordkeeping: 50 hours
Number of respondents: FR 4010: BHC 58, FBOs 5; FR 4011: Activities financial in nature, or incidental or complementary to financial activities 2, Advisory opinions 2; FR 4012: BHCs decertified as FHCs 13, FHCs back into compliance 27; FR 4017: SMBs 5; FR 4019: Regulatory relief requests 5, Portfolio company notification 5; Recordkeeping: 52
General description of report: These collections of information are required to obtain a benefit and are authorized under:
FR 4010: Section 4(l)(1)(C) of the BHC Act (12 U.S.C. § 1843(1)(l)(C)), section 8(a) of the International Banking Act (12 U.S.C. § 3106(a)), and sections 225.82 and 225.91 of Regulation Y (12 C.F.R. 225.82 and 225.91);
FR 4011: Section 4(k) of the BHC Act (12 U.S.C. § 1843(k)) and sections 225.88(b) and (e) and 225.89 of Regulation Y (12 C.F.R. 225.88(b) and (e) and 225.89);
FR 4012: Section 4(m) of the BHC Act (12 U.S.C. § 1843(m)), section 8(a) of the International Banking Act (12 U.S.C. § 3106(a)), and sections 225.83 and 225.93 of Regulation Y (12 C.F.R. 225.83 and 225.93);
FR 4017: Section 9 of the Federal Reserve Act (12 U.S.C. § 335) and section 208.76 of Regulation H (12 C.F.R. 208.76);
FR 4019: Section 4(k)(7) of the BHC Act (12 U.S.C. § 1843(k)(7)) and sections 225.171(e)(3), 225.172(b)(4), and 225.173(c)(2) of Regulation Y (12 C.F.R. 225.171(e)(3), 225.172(b)(4), and 225.173(c)(2));
Recordkeeping: Section 4(k)(7) of the BHC Act (12 U.S.C. § 1843(k)(7)) and sections 225.171(e)(4) and 225.175 of Regulation Y (12 C.F.R. 225.171(e)(4) and 225.171).
A company may request confidentiality for the information contained in these information collections pursuant to section (b)(4) and (b)(6) of the Freedom of Information Act (5 U.S.C. 552 (b)(4) and (b)(6)).
Abstract: Each BHC or FBO seeking FHC status must file the FR 4010 declaration, which includes information needed to verify eligibility for FHC status. By filing the FR 4011 a requestor may ask the Board to determine that an activity is financial in nature, to issue an advisory opinion that an activity is within the scope of an activity previously determined to be financial in nature, or to approve engagement in an activity complementary to a financial activity. Any FHC ceasing to meet capital or managerial prerequisites for Start Printed Page 35627FHC status must notify the Board, by filing the FR 4012 notice, of the deficiency, and often must submit plans to the Board to cure the deficiency. Any SMB seeking to establish a financial subsidiary must seek the Board's prior approval by submitting the FR 4017 requirements. Any FHC seeking to extend the 10-year holding period for a merchant banking investment must submit the FR 4019 requirements to apply for the Board's prior approval, and a FHC also must notify the Board if it routinely manages or operates a portfolio company for more than nine months. All FHCs engaging in merchant banking activities must keep records of those activities, and make them available to examiners. There are no formal reporting forms for these event-generated filings.
3. Report title: Notice Claiming Status as an Exempt Transfer Agent
Annual reporting hours: 6 hours
4. Report title: Notice of Branch Closure
Agency form number: 4031
OMB control number: 7100-0264
Annual reporting hours: 783
Estimated average hours per response: 2 hours for reporting requirements; 1 hour for disclosure requirements; 8 hours for recordkeeping requirements
Number of respondents: 239
General description of report: This information collection is mandatory (12 U.S.C. 1831r-l(a)(1)) and may be given confidential treatment upon request (5 U.S.C. 552(b)(4)).
Abstract: The mandatory reporting, recordkeeping, and disclosure requirements regarding the closing of any branch of an insured depository institution are imposed by section 228 of the Federal Deposit Insurance Corporation Improvement Act of 1991. There is no reporting form associated with the reporting portion of this information collection; state member banks notify the Federal Reserve by letter prior to closing a branch. The Federal Reserve uses the information to fulfill its statutory obligation to supervise state member banks.
5. Report title: Reports Related to Securities of State Member Banks as Required by Regulation H
Agency form number: Reg H-1
OMB Control number: 7100-0091
Frequency: Quarterly and on occasion
Annual reporting hours: 1,390 hours
Estimated average hours per response: 5.11 hours
1. Report title: Consolidated Report of Condition and Income for Edge and Agreement Corporations
Annual reporting hours: 3,173 hours
Number of respondents: 21 banking corporations, 57 investment corporations
General description of report: This information collection is mandatory (12 U.S.C. §§ 602 and 625). For Edge corporations engaged in banking, information collected on schedules E and L are held confidential pursuant to Section (b)(4) of the Freedom of Information Act (5 U.S.C. § 552(b)(4)). For investment Edge corporations only information collected on Schedule E is given confidential treatment pursuant to Section (b)(4) of the Freedom of Information Act (5 U.S.C. § 552(b)(4)).
Abstract: This report collects a balance sheet, income statement, and ten supporting schedules, and it parallels the commercial bank Reports of Condition and Income (Call Report) (FFIEC 031; OMB No. 7100-0036). The Federal Reserve uses the data collected on the FR 2886b to supervise Edge corporations, identify present and potential problems, and monitor and develop a better understanding of activities within the industry.
Current action: The Federal Reserve has approved the proposed changes to the FR 2886b. The proposed revisions included aligning FR 2886b schedule titles, identifiers, and ordering of line items with the Call Report, effective with the September 30, 2004 report date. In addition, the Federal Reserve proposed to modify the FR 2886b report consistent with any applicable revisions to the Call Report, ultimately adopted by the FFIEC for implementation in March 2005.
[FR Doc. 04-14417 Filed 6-24-04; 8:45 am]