Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 33807-33810 [2010-14312]

Download as PDF Federal Register / Vol. 75, No. 114 / Tuesday, June 15, 2010 / Notices mstockstill on DSKH9S0YB1PROD with NOTICES for the Deaf (TDD) users may contact (202–263–4869), Board of Governors of the Federal Reserve System, Washington, DC 20551. Proposal To Approve Under OMB Delegated Authority the Extension for Three Years, Without Revision, of the Following Report(s) 1. Report title: Home Mortgage Disclosure Act (HMDA) Loan/ Application Register (LAR). Agency form number: FR HMDA– LAR. OMB control number: 7100–0247. Frequency: Annual. Reporters: State member banks, subsidiaries of state member banks, subsidiaries of bank holding companies, U.S. branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured state branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act. Estimated annual reporting hours: 151,134 hours. Estimated average hours per response: State member banks, 242 hours; and mortgage subsidiaries, 192 hours. Number of respondents: 519 State member banks, and 133 mortgage subsidiaries. General description of report: This information collection is mandatory (12 U.S.C. 2803(j)). The information is not given confidential treatment, however, information that might identify individual borrowers or applicants is given confidential treatment under exemption 6 of the Freedom of Information Act (5 U.S.C. 552(b)(6)) and section 304(j)(2)(B) of HMDA (12 U.S.C. 2803(j)(2)(B)). Abstract: The information reported and disclosed pursuant to this collection is used to further the purposes of HMDA. These include: (1) To help determine whether financial institutions are serving the housing needs of their communities; (2) to assist public officials in distributing publicsector investments so as to attract private investment to areas where it is needed; and (3) to assist in identifying possible discriminatory lending patterns and enforcing anti-discrimination statutes. 2. Report title: Disclosure Requirements in Connection with Regulation CC (Expedited Funds Availability Act (EFAA)). Agency form number: Reg CC. OMB control number: 7100–0235. Frequency: Event-generated. Reporters: State member banks and uninsured state branches and agencies of foreign banks. VerDate Mar<15>2010 17:15 Jun 14, 2010 Jkt 220001 Annual reporting hours: 202,396 hours. Estimated average hours per response: Banks: Specific availability policy disclosure and initial disclosures, 1 minute; notice in specific policy disclosure, 3 minutes; notice of exceptions, 3 minutes; locations where employees accept consumer deposits, 15 minutes; annual notice of new automated teller machines (ATMs), 5 hours; ATM changes in policy, 20 hours; notice of nonpayment, 1 minute; expedited recredit for consumers, 15 minutes; expedited recredit for banks, 15 minutes; consumer awareness, 1 minute. Consumers: Expedited recredit claim notice, 15 minutes. Number of respondents: 1,060. General description of report: This information collection is mandatory. Reg CC is authorized pursuant the EFAA, as amended, and the Check 21 Act (12 U.S.C. 4008 and 12 U.S.C. 5014, respectively). Because the Federal Reserve does not collect any information, no issue of confidentiality arises. However, if, during a compliance examination of a financial institution, a violation or possible violation of the EFAA or the Check 21 Act is noted then information regarding such violation may be kept confidential pursuant to section (b)(8) of the Freedom of Information Act. 5 U.S.C. 552(b)(8). Abstract: Regulation CC requires banks to make funds deposited in transaction accounts available within specified time periods, disclose their availability policies to customers, and begin accruing interest on such deposits promptly. The disclosures are intended to alert customers that their ability to use deposited funds may be delayed, prevent unintentional (and potentially costly) overdrafts, and allow customers to compare the policies of different banks before deciding at which bank to deposit funds. The regulation also requires notice to the depositary bank and to a customer of nonpayment of a check. Model disclosure forms, clauses, and notices are appended to the regulation to ease compliance. Board of Governors of the Federal Reserve System, June 10, 2010. Jennifer J. Johnson, Secretary of the Board. [FR Doc. 2010–14311 Filed 6–14–10; 8:45 am] BILLING CODE 6210–01–P PO 00000 Frm 00049 Fmt 4703 Sfmt 4703 33807 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—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, with revision, of the following reports: 1. Report title: Report of Selected Balance Sheet Items for Discount Window Borrowers. Agency form numbers: FR 2046. OMB control number: 7100–0289. Frequency: On occasion. Reporters: Depository institutions. Annual reporting hours: Primary and Secondary Credit, 1 hour; Seasonal Credit, 386 hours. Estimated average hours per response: Primary and Secondary Credit, 0.75 hour; Seasonal Credit, 0.25 hour. Number of respondents: Primary and Secondary Credit, 1; Seasonal Credit, 103. General description of report: This information collection is required to obtain a benefit pursuant to section 10B and 19(b)(7) of the Federal Reserve Act (12 U.S.C. 347b and 461(b)(7)) and is given confidential treatment (5 U.S.C. 552(b)(4)). E:\FR\FM\15JNN1.SGM 15JNN1 mstockstill on DSKH9S0YB1PROD with NOTICES 33808 Federal Register / Vol. 75, No. 114 / Tuesday, June 15, 2010 / Notices Abstract: The Federal Reserve’s Regulation A, Extensions of Credit by Federal Reserve Banks, requires that the Federal Reserve review balance sheet data in determining whether to extend credit and to help ascertain whether undue use is made of such credit. Borrowers report certain balance sheet data for a period that encompasses the dates of borrowing. Current Actions: The Federal Reserve proposed to revise the FR 2046 consistent with the 2009 revisions to the Weekly Report of Selected Assets and Liabilities of Domestically Chartered Commercial Banks and U.S. Branches and Agencies of Foreign Banks (FR 2644; OMB No. 7100–0075). FR 2046 respondents that also file the FR 2644 need not report data items that are common to both reports. The recent changes to the FR 2644 included new reporting of total deposits and the elimination of a separate data item for total loans. As a result, FR 2046 respondents that also file the FR 2644 or the weekly Report of Transaction Accounts, Other Deposits and Vault Cash (FR 2900; OMB No. 7100–0087) need not provide data on total deposits, but must provide data on total loans. On March 31, 2010, the Federal Reserve published a notice in the Federal Register (75 FR 16120) seeking public comment for 60 days on the extension, with revision, of the Report of Selected Balance Sheet Items for Discount Window Borrowers. The comment period for this notice expired on June 1, 2010. The Federal Reserve did not receive any comments. The revisions will be implemented as proposed. 2. Report title: Report of Terms of Credit Card Plans. Agency form numbers: FR 2572. OMB control number: 7100–0239. Frequency: Semi-annual. Reporters: Commercial banks, savings banks, industrial banks, and savings and loans associations. Annual reporting hours: 75 hours. Estimated average hours per response: 0.25 hours. Number of respondents: 150. General description of report: This information collection is authorized pursuant section 136(b) of the Truth in Lending Act, 15 U.S.C. 1646(b). Reporting the FR 2572 is required of the 25 largest issuers; other financial institutions participate voluntarily. The data are not considered confidential. Reporting the FR 2572S data is mandatory and the identity of survey respondents is considered confidential (5 U.S.C 552(b)(4)). Abstract: The FR 2572 collects data on credit card pricing and availability VerDate Mar<15>2010 17:15 Jun 14, 2010 Jkt 220001 from a sample of at least 150 financial institutions that offer credit cards to the general public. The information collected on the FR 2572 is reported to Congress and made available to the public in order to promote competition within the industry. The FR 2572S gathers information on the number of creditors that have engaged in one or more of the practices identified in Section 505 of the Credit Card Act. Current Actions: The Federal Reserve proposed to discontinue collection of the FR 2572S data. As directed by the Section 505 of the Credit Card Act, the Federal Reserve Board conducted a onetime survey regarding the extent to which credit card issuers adjust consumer credit lines or interest rates based on certain factors. The Credit Card Act required the Federal Reserve Board to complete the survey and submit a report to Congress by May 22, 2010. For this reason, the Federal Reserve discontinued the FR 2572S. On March 31, 2010, the Federal Reserve published a notice in the Federal Register (75 FR 16120) seeking public comment for 60 days on the extension, with revision, of the Report of Terms of Credit Card Plans. The comment period for this notice expired on June 1, 2010. The Federal Reserve did not receive any comments. The revisions will be implemented as proposed. Final approval under OMB delegated authority of the extension for three years, without revision, of the following reports: 1. Report title: Survey to Obtain Information on the Relevant Market in Individual Merger Cases. Agency form number: FR 2060. OMB control number: 7100–0232. Frequency: On occasion. Reporters: Small businesses and consumers. Annual reporting hours: 9 hours. Estimated average hours per response: Small businesses, 10 minutes; Consumers, 6 minutes. Number of respondents: 25 small businesses and 50 consumers per survey. General description of report: This information collection is voluntary pursuant to the Change in Bank Control Act (12 U.S.C. 1817(j)(7)(A) and (B)), the Bank Merger Act (12 U.S.C. 1828(c)(5)), and section 3(c)(1) of the Bank Holding Company Act (BHC Act) (12 U.S.C. 1842(c)(1)). Individual responses are confidential pursuant to the Freedom of Information Act (5 U.S.C. § 552 (b)(4) and (b)(6)) for small businesses and consumers, respectively. Abstract: The Federal Reserve uses this information to define relevant PO 00000 Frm 00050 Fmt 4703 Sfmt 4703 banking markets for specific merger and acquisition applications and to evaluate changes in competition that would result from proposed transactions. Current Actions: On March 31, 2010, the Federal Reserve published a notice in the Federal Register (75 FR 16120) seeking public comment for 60 days on the extension, without revision, of the Survey to Obtain Information on the Relevant Market in Individual Merger Cases. The comment period for this notice expired on June 1, 2010. The Federal Reserve did not receive any comments. 2. Report title: Request for Extension of Time to Dispose of Assets Acquired in Satisfaction of Debts Previously Contracted. Agency form number: FR 4006. OMB control number: 7100–0129. Frequency: Annual. Reporters: BHCs. Annual reporting hours: 505 hours. Estimated average hours per response: 5 hours. Number of respondents: 101 General description of report: This information collection is required to obtain a benefit pursuant to sections 4(a) and 4(c)(2) of the BHC Act (12 U.S.C. 1843(a) and (c)(2)) and may be given confidential treatment upon request. The Federal Reserve has established a procedure for requesting an extension in its Regulation Y (12 CFR 225.22(d)(1) and 225.140). Abstract: BHC that acquired voting securities or assets through foreclosure in the ordinary course of collecting a debt previously contracted may not retain ownership of those shares or assets for more than two years without prior Federal Reserve approval. There is no formal reporting form and each request for extension must be filed at the appropriate Reserve Bank of the BHC. The Federal Reserve uses the information provided in the request to fulfill its statutory obligation to supervise BHCs. Current Actions: On March 31, 2010, the Federal Reserve published a notice in the Federal Register (75 FR 16120) seeking public comment for 60 days on the extension, without revision, of the Request for Extension of Time to Dispose of Assets Acquired in Satisfaction of Debts Previously Contracted. The comment period for this notice expired on June 1, 2010. The Federal Reserve did not receive any comments. 3. Report title: Stock Redemption Notification. Agency form number: FR 4008. OMB control number: 7100–0131. Frequency: On occasion. Reporters: BHCs. E:\FR\FM\15JNN1.SGM 15JNN1 mstockstill on DSKH9S0YB1PROD with NOTICES Federal Register / Vol. 75, No. 114 / Tuesday, June 15, 2010 / Notices Annual reporting hours: 155 hours. Estimated average hours per response: 15.5 hours. Number of respondents: 10 General description of report: This information collection is mandatory pursuant to Sections 5(b) and (c) of the BHC Act (12 U.S.C. 1844(b) and (c)) and is generally not given confidential treatment. However, a respondent may request that the information be kept confidential on a case-by-case basis. Abstract: The BHC Act and Regulation Y generally require a BHC to seek prior Federal Reserve approval before purchasing or redeeming its equity securities. Given that a BHC is exempt from this requirement if it meets certain financial, managerial, and supervisory standards, only a small portion of proposed stock redemptions actually require the prior approval of the Federal Reserve. There is no formal reporting form. The Federal Reserve uses the information provided in the redemption notice to fulfill its statutory obligation to supervise BHCs. Current Actions: On March 31, 2010, the Federal Reserve published a notice in the Federal Register (75 FR 16120) seeking public comment for 60 days on the extension, without revision, of the Stock Redemption Notification. The comment period for this notice expired on June 1, 2010. The Federal Reserve did not receive any comments. 4. Report title: Information Collections Related to the Gramm-Leach-Bliley (GLB) Act. Agency form number: FR 4010, FR 4011, FR 4012, FR 4017, FR 4019, and FR 4023. OMB control number: 7100–0292. Frequency: On occasion. Reporters: BHCs, foreign banking organizations (FBOs), and state member banks (SMBs). Annual reporting hours: 3,485 hours. Estimated average hours per response: FR 4010: BHC 3 hours, FBOs 3.5 hours; FR 4011: 10 hours; FR 4012: BHCs decertified as financial holding companies (FHCs) 1 hour, FHCs back into compliance 10 hours; FR 4017: 4 hours; FR 4019: Regulatory relief requests 1 hour, Portfolio company notification 1 hour; and FR 4023: 50 hours. Number of respondents: FR 4010: BHC 35, FBOs 6; FR 4011: 6; FR 4012: BHCs decertified as FHCs 80, FHCs back into compliance 20; FR 4017: 3; FR 4019: Regulatory relief requests 5, Portfolio company notification 2; FR 4023: 60. General description of report: The FR 4010 is required to obtain a benefit and is authorized under Section 4(l)(1)(C) of the BHC Act, 12 U.S.C. 1843(l)(l)(C); VerDate Mar<15>2010 17:15 Jun 14, 2010 Jkt 220001 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 CFR 225.82 and 225.91. The FR 4011 is voluntary and is authorized under Sections 4(j) and 4(k) of the BHC Act, 12 U.S.C. 1843(j) through (k); and sections 225.88, and 225.89, of Regulation Y, 12 CFR 225.88, and 225.89. The FR 4012 is mandatory and is authorized under Section 4(l)(1) and 4(m) of the BHC Act, 12 U.S.C. 1843(l)(1) and (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 CFR 225.83 and 225.93. The FR 4017 is required to obtain a benefit and is authorized under Section 9 of the Federal Reserve Act, 12 U.S.C. 335; and section 208.76 of Regulation H, 12 CFR 208.76. The FR 4019 is required to obtain a benefit and is authorized under 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 CFR 225.171(e)(3), 225.172(b)(4), and 225.173(c)(2). The FR 4023 is mandatory and is authorized under 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 CFR 225.171(e)(4) and 225.175. For the FR 4010, FR 4011, FR 4017, FR 4019, and information related to a failure to meet capital requirements on the FR 4012, a company may request confidential treatment of the information contained in these information collections pursuant to section (b)(4) and (b)(6) of the Freedom of Information Act (FOIA) (5 U.S.C. 552(b)(4) and (b)(6)). Information related to a failure to meet management requirements on the FR 4012 is confidential and exempt from disclosure under section (b)(4), because the release of this information would cause substantial harm to the competitive position of the entity, and (b)(8) if the information is related to examination, operating, or condition reports prepared by, on behalf of, or for the use of an agency responsible for the regulation or supervision of financial institutions. Since the Federal Reserve does not collect the FR 4023, no issue of confidentiality under the FOIA arises. FOIA will only be implicated if the Board’s examiners retained a copy of the records in their examination or supervision of the institution, and would likely be exempt from disclosure pursuant to FOIA (5 U.S.C. 552(b)(4), (b)(6), and (b)(8)). PO 00000 Frm 00051 Fmt 4703 Sfmt 4703 33809 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 FHC status must notify the Board of the deficiency by filing the FR 4012 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. Any FHC seeking to extend the 10-year holding period for a merchant banking investment must submit the FR 4019 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 as specified in the FR 4023 requirements. There are no formal reporting forms for these collections of information, which are event generated, though in each case the type of information required to be filed is described in the Board’s regulations. These collections of information are required pursuant to amendments made by the GLB Act to the BHC Act or the Federal Reserve Act, or Board regulations issued to carry out the GLB Act. Current Actions: On March 31, 2010, the Federal Reserve published a notice in the Federal Register (75 FR 16120) seeking public comment for 60 days on the extension, without revision, of the Information Collections Related to the GLB Act. The comment period for this notice expired on June 1, 2010. The Federal Reserve did not receive any comments. 5. Report title: Notice Claiming Status as an Exempt Transfer Agent. Agency form number: FR 4013. OMB control number: 7100–0137. Frequency: On occasion. Reporters: BHCs and certain trust companies. Annual reporting hours: 20 hours. Estimated average hours per response: 2 hours. Number of respondents: 10. General description of report: This information collection is mandatory pursuant to section 17A(c) of the Securities Exchange Act of 1934 (15 E:\FR\FM\15JNN1.SGM 15JNN1 mstockstill on DSKH9S0YB1PROD with NOTICES 33810 Federal Register / Vol. 75, No. 114 / Tuesday, June 15, 2010 / Notices U.S.C. 78q–1(c)) as amended by the Securities Acts Amendments of 1975. The Federal Reserve is authorized to collect these data from state member banks or their subsidiaries, and BHCs or their subsidiaries (except national banks and state nonmember banks that are insured by the FDIC) by 15 U.S.C. 78c(a)(34)(B)(ii). The data collected are not given confidential treatment. Abstract: Banks, BHCs, and trust companies subject to the Federal Reserve’s supervision that are lowvolume transfer agents voluntarily file the notice on occasion with the Federal Reserve. Transfer agents are institutions that provide securities transfer, registration, monitoring, and other specified services on behalf of securities issuers. The purpose of the notice, which is effective until the agent withdraws it, is to claim exemption from certain rules and regulations of the Securities and Exchange Commission (SEC). The Federal Reserve uses the notices for supervisory purposes because the SEC has assigned to the Federal Reserve responsibility for collecting the notices and verifying their accuracy through examinations of the respondents. There is no formal reporting form and each notice is filed as a letter. Current Actions: On March 31, 2010, the Federal Reserve published a notice in the Federal Register (75 FR 16120) seeking public comment for 60 days on the extension, without revision, of the Notice Claiming Status as an Exempt Transfer Agent. The comment period for this notice expired on June 1, 2010. The Federal Reserve did not receive any comments. 6. Report title: Investment in Bank Premises Notification. Agency form number: FR 4014. OMB control number: 7100–0139. Frequency: On occasion. Reporters: SMBs. Annual reporting hours: 7 hours. Estimated average hours per response: 30 minutes. Number of respondents: 13. General description of report: This information collection is required to obtain a benefit pursuant to Section 24A(a) of the Federal Reserve Act (12 U.S.C. 371d(a)) and is not given confidential treatment. However, a respondent may request confidential treatment for all or part of a notification, which would be reviewed on a case-bycase basis. Abstract: The Federal Reserve Act requires an SMB to seek prior Federal Reserve approval before making an investment in bank premises that exceeds certain thresholds. There is no formal reporting form, and each VerDate Mar<15>2010 17:15 Jun 14, 2010 Jkt 220001 required request for prior approval must be filed as a notification with the appropriate Reserve Bank of the SMB. The Federal Reserve uses the information provided in the notice to fulfill its statutory obligation to supervise SMBs. Current Actions: On March 31, 2010, the Federal Reserve published a notice in the Federal Register (75 FR 16120) seeking public comment for 60 days on the extension, without revision, of the Investment in Bank Premises Notification. The comment period for this notice expired on June 1, 2010. The Federal Reserve did not receive any comments. Board of Governors of the Federal Reserve System, June 10, 2010. Jennifer J. Johnson, Secretary of the Board. [FR Doc. 2010–14312 Filed 6–14–10; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire a bank or bank holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the office of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than June 30, 2010. A. Federal Reserve Bank of Atlanta (Clifford Stanford, Vice President) 1000 Peachtree Street, N.E., Atlanta, Georgia 30309: 1. Chittranjan Kashavji Thakkar, Alpharetta, Georgia; to acquire additional voting shares of Hometown Community Bancshares, Inc., and thereby indirectly acquire additional voting shares of Hometown Community Bank, both of Braselton, Georgia. Board of Governors of the Federal Reserve System, June 10, 2010. Robert deV. Frierson, Deputy Secretary of the Board. FEDERAL RESERVE SYSTEM Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities The companies listed in this notice have given notice under section 4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and Regulation Y (12 CFR Part 225) to engage de novo, or to acquire or control voting securities or assets of a company, including the companies listed below, that engages either directly or through a subsidiary or other company, in a nonbanking activity that is listed in § 225.28 of Regulation Y (12 CFR 225.28) or that the Board has determined by Order to be closely related to banking and permissible for bank holding companies. Unless otherwise noted, these activities will be conducted throughout the United States. Each notice is available for inspection at the Federal Reserve Bank indicated. The notice also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the question whether the proposal complies with the standards of section 4 of the BHC Act. Additional information on all bank holding companies may be obtained from the National Information Center website at www.ffiec.gov/nic/. Unless otherwise noted, comments regarding the applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than July 9, 2010. A. Federal Reserve Bank of Cleveland (Nadine Wallman, Vice President) 1455 East Sixth Street, Cleveland, Ohio 44101–2566: 1. First Southern Bancorp, Inc., Stanford, Kentucky; to acquire up to 24.99 percent of the voting shares of CKF Bancorp, Inc., and thereby indirectly acquire voting shares of Central Kentucky Federal Savings Bank, both of Danville, Kentucky, and thereby engage in operating a savings and loan association, pursuant to section 225.28(b)(4)(ii) of Regulation Y. Board of Governors of the Federal Reserve System, June 10, 2010. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. 2010–14399 Filed 6–14–10; 8:45 am] BILLING CODE 6210–01–S [FR Doc. 2010–14400 Filed 6–14–10; 8:45 am] BILLING CODE 6210–01–S PO 00000 Frm 00052 Fmt 4703 Sfmt 9990 E:\FR\FM\15JNN1.SGM 15JNN1

Agencies

[Federal Register Volume 75, Number 114 (Tuesday, June 15, 2010)]
[Notices]
[Pages 33807-33810]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-14312]


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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--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, with revision, of the following reports:
    1. Report title: Report of Selected Balance Sheet Items for 
Discount Window Borrowers.
    Agency form numbers: FR 2046.
    OMB control number: 7100-0289.
    Frequency: On occasion.
    Reporters: Depository institutions.
    Annual reporting hours: Primary and Secondary Credit, 1 hour; 
Seasonal Credit, 386 hours.
    Estimated average hours per response: Primary and Secondary Credit, 
0.75 hour; Seasonal Credit, 0.25 hour.
    Number of respondents: Primary and Secondary Credit, 1; Seasonal 
Credit, 103.
    General description of report: This information collection is 
required to obtain a benefit pursuant to section 10B and 19(b)(7) of 
the Federal Reserve Act (12 U.S.C. 347b and 461(b)(7)) and is given 
confidential treatment (5 U.S.C. 552(b)(4)).

[[Page 33808]]

    Abstract: The Federal Reserve's Regulation A, Extensions of Credit 
by Federal Reserve Banks, requires that the Federal Reserve review 
balance sheet data in determining whether to extend credit and to help 
ascertain whether undue use is made of such credit. Borrowers report 
certain balance sheet data for a period that encompasses the dates of 
borrowing.
    Current Actions: The Federal Reserve proposed to revise the FR 2046 
consistent with the 2009 revisions to the Weekly Report of Selected 
Assets and Liabilities of Domestically Chartered Commercial Banks and 
U.S. Branches and Agencies of Foreign Banks (FR 2644; OMB No. 7100-
0075). FR 2046 respondents that also file the FR 2644 need not report 
data items that are common to both reports. The recent changes to the 
FR 2644 included new reporting of total deposits and the elimination of 
a separate data item for total loans. As a result, FR 2046 respondents 
that also file the FR 2644 or the weekly Report of Transaction 
Accounts, Other Deposits and Vault Cash (FR 2900; OMB No. 7100-0087) 
need not provide data on total deposits, but must provide data on total 
loans.
    On March 31, 2010, the Federal Reserve published a notice in the 
Federal Register (75 FR 16120) seeking public comment for 60 days on 
the extension, with revision, of the Report of Selected Balance Sheet 
Items for Discount Window Borrowers. The comment period for this notice 
expired on June 1, 2010. The Federal Reserve did not receive any 
comments. The revisions will be implemented as proposed.
    2. Report title: Report of Terms of Credit Card Plans.
    Agency form numbers: FR 2572.
    OMB control number: 7100-0239.
    Frequency: Semi-annual.
    Reporters: Commercial banks, savings banks, industrial banks, and 
savings and loans associations.
    Annual reporting hours: 75 hours.
    Estimated average hours per response: 0.25 hours.
    Number of respondents: 150.
    General description of report: This information collection is 
authorized pursuant section 136(b) of the Truth in Lending Act, 15 
U.S.C. 1646(b). Reporting the FR 2572 is required of the 25 largest 
issuers; other financial institutions participate voluntarily. The data 
are not considered confidential. Reporting the FR 2572S data is 
mandatory and the identity of survey respondents is considered 
confidential (5 U.S.C 552(b)(4)).
    Abstract: The FR 2572 collects data on credit card pricing and 
availability from a sample of at least 150 financial institutions that 
offer credit cards to the general public. The information collected on 
the FR 2572 is reported to Congress and made available to the public in 
order to promote competition within the industry. The FR 2572S gathers 
information on the number of creditors that have engaged in one or more 
of the practices identified in Section 505 of the Credit Card Act.
    Current Actions: The Federal Reserve proposed to discontinue 
collection of the FR 2572S data. As directed by the Section 505 of the 
Credit Card Act, the Federal Reserve Board conducted a one-time survey 
regarding the extent to which credit card issuers adjust consumer 
credit lines or interest rates based on certain factors. The Credit 
Card Act required the Federal Reserve Board to complete the survey and 
submit a report to Congress by May 22, 2010. For this reason, the 
Federal Reserve discontinued the FR 2572S.
    On March 31, 2010, the Federal Reserve published a notice in the 
Federal Register (75 FR 16120) seeking public comment for 60 days on 
the extension, with revision, of the Report of Terms of Credit Card 
Plans. The comment period for this notice expired on June 1, 2010. The 
Federal Reserve did not receive any comments. The revisions will be 
implemented as proposed.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following reports:
    1. Report title: Survey to Obtain Information on the Relevant 
Market in Individual Merger Cases.
    Agency form number: FR 2060.
    OMB control number: 7100-0232.
    Frequency: On occasion.
    Reporters: Small businesses and consumers.
    Annual reporting hours: 9 hours.
    Estimated average hours per response: Small businesses, 10 minutes; 
Consumers, 6 minutes.
    Number of respondents: 25 small businesses and 50 consumers per 
survey.
    General description of report: This information collection is 
voluntary pursuant to the Change in Bank Control Act (12 U.S.C. 
1817(j)(7)(A) and (B)), the Bank Merger Act (12 U.S.C. 1828(c)(5)), and 
section 3(c)(1) of the Bank Holding Company Act (BHC Act) (12 U.S.C. 
1842(c)(1)). Individual responses are confidential pursuant to the 
Freedom of Information Act (5 U.S.C. Sec.  552 (b)(4) and (b)(6)) for 
small businesses and consumers, respectively.
    Abstract: The Federal Reserve uses this information to define 
relevant banking markets for specific merger and acquisition 
applications and to evaluate changes in competition that would result 
from proposed transactions.
    Current Actions: On March 31, 2010, the Federal Reserve published a 
notice in the Federal Register (75 FR 16120) seeking public comment for 
60 days on the extension, without revision, of the Survey to Obtain 
Information on the Relevant Market in Individual Merger Cases. The 
comment period for this notice expired on June 1, 2010. The Federal 
Reserve did not receive any comments.
    2. Report title: Request for Extension of Time to Dispose of Assets 
Acquired in Satisfaction of Debts Previously Contracted.
    Agency form number: FR 4006.
    OMB control number: 7100-0129.
    Frequency: Annual.
    Reporters: BHCs.
    Annual reporting hours: 505 hours.
    Estimated average hours per response: 5 hours.
    Number of respondents: 101
    General description of report: This information collection is 
required to obtain a benefit pursuant to sections 4(a) and 4(c)(2) of 
the BHC Act (12 U.S.C. 1843(a) and (c)(2)) and may be given 
confidential treatment upon request. The Federal Reserve has 
established a procedure for requesting an extension in its Regulation Y 
(12 CFR 225.22(d)(1) and 225.140).
    Abstract: BHC that acquired voting securities or assets through 
foreclosure in the ordinary course of collecting a debt previously 
contracted may not retain ownership of those shares or assets for more 
than two years without prior Federal Reserve approval. There is no 
formal reporting form and each request for extension must be filed at 
the appropriate Reserve Bank of the BHC. The Federal Reserve uses the 
information provided in the request to fulfill its statutory obligation 
to supervise BHCs.
    Current Actions: On March 31, 2010, the Federal Reserve published a 
notice in the Federal Register (75 FR 16120) seeking public comment for 
60 days on the extension, without revision, of the Request for 
Extension of Time to Dispose of Assets Acquired in Satisfaction of 
Debts Previously Contracted. The comment period for this notice expired 
on June 1, 2010. The Federal Reserve did not receive any comments.
    3. Report title: Stock Redemption Notification.
    Agency form number: FR 4008.
    OMB control number: 7100-0131.
    Frequency: On occasion.
    Reporters: BHCs.

[[Page 33809]]

    Annual reporting hours: 155 hours.
    Estimated average hours per response: 15.5 hours.
    Number of respondents: 10
    General description of report: This information collection is 
mandatory pursuant to Sections 5(b) and (c) of the BHC Act (12 U.S.C. 
1844(b) and (c)) and is generally not given confidential treatment. 
However, a respondent may request that the information be kept 
confidential on a case-by-case basis.
    Abstract: The BHC Act and Regulation Y generally require a BHC to 
seek prior Federal Reserve approval before purchasing or redeeming its 
equity securities. Given that a BHC is exempt from this requirement if 
it meets certain financial, managerial, and supervisory standards, only 
a small portion of proposed stock redemptions actually require the 
prior approval of the Federal Reserve. There is no formal reporting 
form. The Federal Reserve uses the information provided in the 
redemption notice to fulfill its statutory obligation to supervise 
BHCs.
    Current Actions: On March 31, 2010, the Federal Reserve published a 
notice in the Federal Register (75 FR 16120) seeking public comment for 
60 days on the extension, without revision, of the Stock Redemption 
Notification. The comment period for this notice expired on June 1, 
2010. The Federal Reserve did not receive any comments.
    4. Report title: Information Collections Related to the Gramm-
Leach-Bliley (GLB) Act.
    Agency form number: FR 4010, FR 4011, FR 4012, FR 4017, FR 4019, 
and FR 4023.
    OMB control number: 7100-0292.
    Frequency: On occasion.
    Reporters: BHCs, foreign banking organizations (FBOs), and state 
member banks (SMBs).
    Annual reporting hours: 3,485 hours.
    Estimated average hours per response: FR 4010: BHC 3 hours, FBOs 
3.5 hours; FR 4011: 10 hours; FR 4012: BHCs decertified as financial 
holding companies (FHCs) 1 hour, FHCs back into compliance 10 hours; FR 
4017: 4 hours; FR 4019: Regulatory relief requests 1 hour, Portfolio 
company notification 1 hour; and FR 4023: 50 hours.
    Number of respondents: FR 4010: BHC 35, FBOs 6; FR 4011: 6; FR 
4012: BHCs decertified as FHCs 80, FHCs back into compliance 20; FR 
4017: 3; FR 4019: Regulatory relief requests 5, Portfolio company 
notification 2; FR 4023: 60.
    General description of report: The FR 4010 is required to obtain a 
benefit and is authorized under Section 4(l)(1)(C) of the BHC Act, 12 
U.S.C. 1843(l)(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 CFR 
225.82 and 225.91.
    The FR 4011 is voluntary and is authorized under Sections 4(j) and 
4(k) of the BHC Act, 12 U.S.C. 1843(j) through (k); and sections 
225.88, and 225.89, of Regulation Y, 12 CFR 225.88, and 225.89.
    The FR 4012 is mandatory and is authorized under Section 4(l)(1) 
and 4(m) of the BHC Act, 12 U.S.C. 1843(l)(1) and (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 CFR 225.83 and 225.93.
    The FR 4017 is required to obtain a benefit and is authorized under 
Section 9 of the Federal Reserve Act, 12 U.S.C. 335; and section 208.76 
of Regulation H, 12 CFR 208.76.
    The FR 4019 is required to obtain a benefit and is authorized under 
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 CFR 
225.171(e)(3), 225.172(b)(4), and 225.173(c)(2).
    The FR 4023 is mandatory and is authorized under 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 CFR 225.171(e)(4) and 225.175.
    For the FR 4010, FR 4011, FR 4017, FR 4019, and information related 
to a failure to meet capital requirements on the FR 4012, a company may 
request confidential treatment of the information contained in these 
information collections pursuant to section (b)(4) and (b)(6) of the 
Freedom of Information Act (FOIA) (5 U.S.C. 552(b)(4) and (b)(6)). 
Information related to a failure to meet management requirements on the 
FR 4012 is confidential and exempt from disclosure under section 
(b)(4), because the release of this information would cause substantial 
harm to the competitive position of the entity, and (b)(8) if the 
information is related to examination, operating, or condition reports 
prepared by, on behalf of, or for the use of an agency responsible for 
the regulation or supervision of financial institutions. Since the 
Federal Reserve does not collect the FR 4023, no issue of 
confidentiality under the FOIA arises. FOIA will only be implicated if 
the Board's examiners retained a copy of the records in their 
examination or supervision of the institution, and would likely be 
exempt from disclosure pursuant to FOIA (5 U.S.C. 552(b)(4), (b)(6), 
and (b)(8)).
    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 FHC status must notify the 
Board of the deficiency by filing the FR 4012 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. Any FHC seeking to extend the 10-year holding 
period for a merchant banking investment must submit the FR 4019 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 
as specified in the FR 4023 requirements.
    There are no formal reporting forms for these collections of 
information, which are event generated, though in each case the type of 
information required to be filed is described in the Board's 
regulations. These collections of information are required pursuant to 
amendments made by the GLB Act to the BHC Act or the Federal Reserve 
Act, or Board regulations issued to carry out the GLB Act.
    Current Actions: On March 31, 2010, the Federal Reserve published a 
notice in the Federal Register (75 FR 16120) seeking public comment for 
60 days on the extension, without revision, of the Information 
Collections Related to the GLB Act. The comment period for this notice 
expired on June 1, 2010. The Federal Reserve did not receive any 
comments.
    5. Report title: Notice Claiming Status as an Exempt Transfer 
Agent.
    Agency form number: FR 4013.
    OMB control number: 7100-0137.
    Frequency: On occasion.
    Reporters: BHCs and certain trust companies.
    Annual reporting hours: 20 hours.
    Estimated average hours per response: 2 hours.
    Number of respondents: 10.
    General description of report: This information collection is 
mandatory pursuant to section 17A(c) of the Securities Exchange Act of 
1934 (15

[[Page 33810]]

U.S.C. 78q-1(c)) as amended by the Securities Acts Amendments of 1975. 
The Federal Reserve is authorized to collect these data from state 
member banks or their subsidiaries, and BHCs or their subsidiaries 
(except national banks and state nonmember banks that are insured by 
the FDIC) by 15 U.S.C. 78c(a)(34)(B)(ii). The data collected are not 
given confidential treatment.
    Abstract: Banks, BHCs, and trust companies subject to the Federal 
Reserve's supervision that are low-volume transfer agents voluntarily 
file the notice on occasion with the Federal Reserve. Transfer agents 
are institutions that provide securities transfer, registration, 
monitoring, and other specified services on behalf of securities 
issuers. The purpose of the notice, which is effective until the agent 
withdraws it, is to claim exemption from certain rules and regulations 
of the Securities and Exchange Commission (SEC). The Federal Reserve 
uses the notices for supervisory purposes because the SEC has assigned 
to the Federal Reserve responsibility for collecting the notices and 
verifying their accuracy through examinations of the respondents. There 
is no formal reporting form and each notice is filed as a letter.
    Current Actions: On March 31, 2010, the Federal Reserve published a 
notice in the Federal Register (75 FR 16120) seeking public comment for 
60 days on the extension, without revision, of the Notice Claiming 
Status as an Exempt Transfer Agent. The comment period for this notice 
expired on June 1, 2010. The Federal Reserve did not receive any 
comments.
    6. Report title: Investment in Bank Premises Notification.
    Agency form number: FR 4014.
    OMB control number: 7100-0139.
    Frequency: On occasion.
    Reporters: SMBs.
    Annual reporting hours: 7 hours.
    Estimated average hours per response: 30 minutes.
    Number of respondents: 13.
    General description of report: This information collection is 
required to obtain a benefit pursuant to Section 24A(a) of the Federal 
Reserve Act (12 U.S.C. 371d(a)) and is not given confidential 
treatment. However, a respondent may request confidential treatment for 
all or part of a notification, which would be reviewed on a case-by-
case basis.
    Abstract: The Federal Reserve Act requires an SMB to seek prior 
Federal Reserve approval before making an investment in bank premises 
that exceeds certain thresholds. There is no formal reporting form, and 
each required request for prior approval must be filed as a 
notification with the appropriate Reserve Bank of the SMB. The Federal 
Reserve uses the information provided in the notice to fulfill its 
statutory obligation to supervise SMBs.
    Current Actions: On March 31, 2010, the Federal Reserve published a 
notice in the Federal Register (75 FR 16120) seeking public comment for 
60 days on the extension, without revision, of the Investment in Bank 
Premises Notification. The comment period for this notice expired on 
June 1, 2010. The Federal Reserve did not receive any comments.

    Board of Governors of the Federal Reserve System, June 10, 2010.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2010-14312 Filed 6-14-10; 8:45 am]
BILLING CODE 6210-01-P