Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 56842-56844 [2012-22591]

Download as PDF 56842 Federal Register / Vol. 77, No. 179 / Friday, September 14, 2012 / Notices and cannot contact you for clarification, EPA may not be able to consider your comment. Use of the www.regulations.gov Web site to submit comments to EPA electronically is EPA’s preferred method for receiving comments. The electronic public docket system is an ‘‘anonymous access’’ system, which means EPA will not know your identity, email address, or other contact information unless you provide it in the body of your comment. In contrast to EPA’s electronic public docket, EPA’s electronic mail (email) system is not an ‘‘anonymous access’’ system. If you send an email comment directly to the Docket without going through www.regulations.gov, your email address is automatically captured and included as part of the comment that is placed in the official public docket, and made available in EPA’s electronic public docket. Dated: September 7, 2012. Lorie J. Schmidt, Associate General Counsel. [FR Doc. 2012–22762 Filed 9–13–12; 8:45 am] BILLING CODE 6560–50–P FEDERAL MEDIATION AND CONCILIATION SERVICE Labor-Management Relations Information Collection Requests Federal Mediation and Conciliation Service. ACTION: Submission for OMB Review: Request for Comments. AGENCY: The Federal Mediation and Conciliation Service (FMCS) hereby announces the submission of the following public information collection request (ICR) to the Office of Management and Budget (OMB) for review and approval in accordance with the Paperwork Reduction Act of 1995 (Pub. L. 104–13). The information collection request is the Notice to Mediation Agencies (Agency Form F–7), OMB control number 3076–0004. No comments were received pursuant to FMCS’s prior 60-day notice in the Federal Register on June 26, 2012. However, we would like to make a correction to that notice. The collection is actually being submitted to OMB as a reinstatement with change of a previously approved collection. The changes include modest streamlining and improvements for clarity. OMB is interested in comments on specific aspects of the collection. The OMB is particularly interested in comments that: (1) Evaluate whether the proposed collection of information is necessary mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 16:39 Sep 13, 2012 Jkt 226001 for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) Evaluates the accuracy of the agency’s estimates of the burden of the proposed collection information; (3) Enhance the quality, utility, and clarity of the information to be collected; and (4) Minimize the burden of the collections of information on those who are to respond, including the use of appropriate automated, electronic collection technologies or other forms of information technology. Burden: FMCS receives approximately 21,000 responses to the form Notice to Mediation Agencies (OMB No. 3076–004). Affected Entities: Private sector employers and labor unions involved in interstate commerce that file notices for mediation services to the FMCS and state, local and territorial agencies. DATES: Comments must be submitted on or before October 15, 2012. ADDRESSES: Submit written comments to: Email: oira_submissions@omb.eop.gov. Please include the FMCS form number, the information collection title, and the OMB control number in the subject line of the message. Comments may also be sent to fax number 202.395.5806 to the attention of Desk Officer for FMCS. SUPPLEMENTARY INFORMATION: For additional information, see the related 60-day notice published in the Federal Register at Vol. 77 No. 38062 on June 26, 2012. Dated: September 10, 2012. Jeannette Walters-Marquez, Attorney Advisor. [FR Doc. 2012–22629 Filed 9–13–12; 8:45 am] BILLING CODE 6732–01–P FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB Board of Governors of the Federal Reserve System. SUMMARY: Notice is hereby given of the final approval of a proposed information collection 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. AGENCY: PO 00000 Frm 00035 Fmt 4703 Sfmt 4703 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—Cynthia Ayouch—Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, DC 20551 (202) 452–3829. Telecommunications Device for the Deaf (TDD) users may contact (202) 263–4869, Board of Governors of the Federal Reserve System, Washington, DC 20551. OMB Desk Officer—Shagufta Ahmed— Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW., Washington, DC 20503. Final approval under OMB delegated authority of the extension for three years, with revision, of the following reports: Report title: Report of Changes in Organizational Structure, Annual Report of Bank Holding Companies, and Annual Report of Foreign Banking Organizations. Agency form number: FR Y–10, FR Y– 10 verification, FR Y–6, and FR Y–7. OMB Control number: 7100–0297. Effective Date: The proposed changes to the FR Y–6 and FR Y–7 reporting forms and instructions will be effective December 31, 2012. The proposed changes to the FR Y–10 reporting form and instructions for foreign banking organizations (FBOs), top-tier bank holding companies (BHCs), state member banks that are not controlled by a BHC, Edge and agreement corporations that are not controlled by a member bank, a BHC, or a FBO; nationally chartered banks that are not controlled by a BHC (with regard to their foreign investments only), securities holding companies (SHCs), nonbank financial companies, and designated financial market utilities (DFMUs) will be effective December 1, 2012. The proposed changes to the FR Y–10 form and instructions for savings and loan holding companies (SLHCs) will be effective December 1, 2012, except for data on nonbank subsidiaries. SLHCs will file the FR Y–10 data by June 30, 2013, for their nonbank subsidiaries that meet the quarterly E:\FR\FM\14SEN1.SGM 14SEN1 mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 77, No. 179 / Friday, September 14, 2012 / Notices financial reporting criteria. SLHCs will file the FR Y–10 data by September 30, 2013, for their nonbank subsidiaries that file financial reports annually. SLHCS will file the FR Y–10 data by December 31, 2013, for their nonbank subsidiaries that do not file financial reports. Frequency: FR Y–10: Event-generated; FR Y–10 verification: One-time; FR Y– 6 and FR Y–7: Annual. Reporters: FR Y–10: FBOs, top-tier BHCs, state member banks that are not controlled by a BHC, Edge and agreement corporations that are not controlled by a member bank, a BHC, or a FBO; nationally chartered banks that are not controlled by a BHC (with regard to their foreign investments only), SLHCs, SHCs, nonbank financial companies, and DFMUs; FR Y–6: toptier BHCs and nonqualifying FBOs, SLHCs, SHCs, nonbank financial companies, and DFMUs; FR Y–7: all qualifying FBOs that engage in banking in the United States, either directly or indirectly. Estimated annual reporting hours: FR Y–10: 25,313 hours; FR Y–10 verification: 956; FR Y–6: 29,253 hours; FR Y–7: 615 hours. Estimated average hours per response: FR Y–10: 2.25 hours; FR Y–10 verification: 1.25 hours; FR Y–6: 5.25 hours; FR Y–7: 3.75 hours. Number of respondents: FR Y–10: 3,750; FR Y–10 verification: 765; FR Y– 6: 5,572; FR Y–7: 164. General description of report: These information collections are mandatory under the Federal Reserve Act, the Bank Holding Company Act (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), and Sections 161, 312, 618, and 809 of the Dodd-Frank Act (12 U.S.C. 5361, 5412, 1850a(c)(1), and 5468(b)(1)). 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 Freedom of Information Act (FOIA), (5 U.S.C. 522(b)(4) and (b)(6)). 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 state member bank, a BHC, or an 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 VerDate Mar<15>2010 16:39 Sep 13, 2012 Jkt 226001 subsidiaries and regulated investments of these entities engaged in banking and nonbanking activities. 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, Regulation Y (12 CFR 225), and the Home Owners Loan Act. 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 11, 2012, the Federal Reserve published a notice in the Federal Register (77 FR 34384) requesting public comment for 60 days on the revision, with extension, of the FR Y–10, FR Y–7, and FR Y–6. The comment period for this notice expired on August 10, 2012. The Federal Reserve received three comment letters addressing proposed changes to the FR Y–10 and FR Y–6. Summary of Comments FR Y–6 and FR Y–10 The Federal Reserve received three comment letters on the proposed revisions to the FR Y–10 and the FR Y– 6: two from bankers’ organizations and one from a BHC. The bankers’ organizations expressed concerns on the proposed timeline to submit (as a supplement to the FR Y– 10) a one-time verification of each SLHC’s organizational structure. After considering these comments, the Federal Reserve will scale back the information collected in the one-time FR Y–10 verification to require only the information needed to submit nonbank financial data for 2013.1 The Federal Reserve will also extend the timeline for the SLHCs to respond to the one-time verification from thirty days to sixty days. The information required in the one-time verification will be communicated in a transmittal letter. The commenters also requested a phased approach for submitting the FR Y–6 and FR Y–10 data based on the schedule for submitting nonbank 1 The changes to require SLHCs to submit financial data for their nonbank subsidiaries were covered in a separate proposal and the final notice was published December 29, 2011 (76 FR 81933). PO 00000 Frm 00036 Fmt 4703 Sfmt 4703 56843 financial data that are due commencing in 2013. Last year the Federal Reserve issued a proposal with the requirement that SLHCs begin filing the annual FR Y–6 report with fiscal year ends beginning December 31, 2012.2 Thus, the Federal Reserve believes SLHCs have had a reasonable transition period to prepare for the submission of the FR Y–6 report. However, the Federal Reserve recognizes the challenges to meet the proposed submission of the event-generated FR Y–10 data and agree that a phased-in approach for reporting nonbank subsidiaries on the FR Y–10 is appropriate. SLHCs will file the FR Y– 10 data by June 30, 2013, for their nonbank subsidiaries that meet the quarterly financial reporting criteria. SLHCs will file the FR Y–10 data by September 30, 2013, for their nonbank subsidiaries that file financial reports annually. SLHCS will file the FR Y–10 data by December 31, 2013, for their nonbank subsidiaries that do not file financial reports. In addition, the bankers’ organizations asked for clarification on the requirement for intermediate holding companies (IHC) to report the FR Y–6 and FR Y–10. The current regulatory reporting requirement that top-tier holding companies submit the FR Y–6 and FR Y–10 will continue until a separate proposed rule is issued on IHCs. At that time, the Federal Reserve will address the reporting requirements of the IHC. The bankers’ organizations also expressed concern about reporting on the activities of certain SLHCs, namely ‘‘grandfathered SLHCs’’ and requested that the instructions be clarified. While the activities of grandfathered SLHCs are exempt from the limitations in 12 CFR 238.51(b), there is no statutory or regulatory exemption from reporting on such activities. The reporting and examination requirements in the Home Owners’ Loan Act and the Federal Reserve’s Regulation LL apply to all SLHCs, with no exceptions for grandfathered SLHCs or their activities. Therefore, no changes will be made to the reporting requirements for grandfathered activities by certain SLHCs. However, the Federal Reserve will clarify the instructions of the reporting requirements for grandfathered SLHCs. FR Y–10 The BHC suggested using the term ‘‘nonfinancial company’’ instead of ‘‘nonbanking company’’ on the 4(k) Schedule of the FR Y–10 whenever the 2 (76 FR 53129) August 25, 2011 and (76 FR 81933) December 29, 2011. E:\FR\FM\14SEN1.SGM 14SEN1 mstockstill on DSK4VPTVN1PROD with NOTICES 56844 Federal Register / Vol. 77, No. 179 / Friday, September 14, 2012 / Notices reference is to nonfinancial investments held by a qualified financial holding company and reported in the lower section of the 4(k) Schedule. The Federal Reserve agrees and will replace the reference to nonbanking company with nonfinancial company on the 4(k) Schedule and instructions of the FR Y– 10. Final approval under OMB delegated authority the extension for three years, without revision, of the following report: Report title: Supplement to the Report of Changes in Organizational Structure. Agency form number: FR Y–10E. OMB control number: 7100–0297. Frequency: Event-generated. Reporters: FBOs, top-tier bank holding companies (BHCs), state member banks that are not controlled by a BHC, Edge and agreement corporations that are not controlled by a member bank, a BHC, or a FBO; and nationally chartered banks that are not controlled by a BHC (with regard to their foreign investments only). Estimated annual reporting hours: 1,875 hours. Estimated average hours per response: 0.50 hours. Number of respondents: 3,750. General description of report: This information collection is mandatory under the Federal Reserve Act, the Bank Holding Company Act (BHC Act), and the International Banking Act (12 U.S.C. 248(a)(1), 321, 601, 602, 611a, 615, and 625, 1843(k), 1844(c)(1)(A), 3106(a)) and Regulation K and Y (12 CFR 211.13(c), 225.5(b) and 225.87) and Sections 161, 312, 618, and 809 of the Dodd-Frank Act (12 U.S.C. 5361, 5412, 1850a(c)(1), and 5468(b)(1)). 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 Freedom of Information Act (FOIA), (5 U.S.C. 522(b)(4) and (b)(6)). Abstract: 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. Current Actions: On June 11, 2012, the Federal Reserve published a notice in the Federal Register (77 FR 34384) requesting public comment for 60 days on the extension, without revision, of the Supplement to the Report of Changes in Organizational Structure (FR Y–10E). The comment period for this notice expired on August 10, 2012. The Federal Reserve did not receive any comments on the FR Y–10E. VerDate Mar<15>2010 16:39 Sep 13, 2012 Jkt 226001 Board of Governors of the Federal Reserve System, September 10, 2012. Robert deV. Frierson, Secretary of the Board. [FR Doc. 2012–22591 Filed 9–13–12; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Bank Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other applicable statutes and regulations to become a bank holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company and all of the banks and nonbanking companies owned by the bank holding company, including the companies listed below. The applications listed below, as well as other related filings required by the Board, are available for immediate inspection at the Federal Reserve Bank indicated. The applications will also be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the acquisition of a nonbanking company, the review also includes whether the acquisition of the nonbanking company complies with the standards in section 4 of the BHC Act (12 U.S.C. 1843). Unless otherwise noted, nonbanking activities will be conducted throughout the United States. Unless otherwise noted, comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than October 9, 2012. A. Federal Reserve Bank of St. Louis (Glenda Wilson, Community Affairs Officer) P.O. Box 442, St. Louis, Missouri 63166–2034: 1. Financial Services Holding Corporation, Henderson, Kentucky; to acquire 100 percent of the voting shares of Harrison Bancorporation, and thereby indirectly acquire voting shares of The Harrison Deposit Bank and Trust Company, both in Cynthiana, Kentucky. Board of Governors of the Federal Reserve System, September 10, 2012. Robert deV. Frierson, Secretary of the Board. [FR Doc. 2012–22590 Filed 9–13–12; 8:45 am] BILLING CODE 6210–01–P PO 00000 Frm 00037 Fmt 4703 Sfmt 4703 DEPARTMENT OF HEALTH AND HUMAN SERVICES Health Resources and Services Administration Agency Information Collection Activities: Proposed Collection: Comment Request In compliance with the requirement for opportunity for public comment on proposed data collection projects (section 3506(c)(2)(A) of Title 44, United States Code, as amended by the Paperwork Reduction Act of 1995, Pub. L. 104–13), the Health Resources and Services Administration (HRSA) publishes periodic summaries of proposed projects being developed for submission to the Office of Management and Budget (OMB) under the Paperwork Reduction Act of 1995. To request more information on the proposed project or to obtain a copy of the data collection plans and draft instruments, email paperwork@hrsa.gov or call the HRSA Reports Clearance Officer at (301) 443– 1984. Comments are invited on: (a) The proposed collection of information for the proper performance of the functions of the agency; (b) the accuracy of the agency’s estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Proposed Project: The Health Education Assistance Loan (HEAL) Program: Forms (OMB No. 0915–0043)— Extension The Health Education Assistance Loan (HEAL) program continues to administer and monitor outstanding loans which were provided to eligible students to pay for educational costs in a number of health professions. HEAL forms collect information that is required for responsible program management. The HEAL Repayment Schedule, Fixed and Variable, provides the borrower with the cost of a HEAL loan, the number and amount of payments, and the Truth-in-Lending disclosures. The Lender’s Report on HEAL Student Loans Outstanding (Call Report), provides information on the status of loans outstanding by the number of borrowers and total number of loans whose loan payments are in various stages of the loan cycle, such as student education and repayment, and E:\FR\FM\14SEN1.SGM 14SEN1

Agencies

[Federal Register Volume 77, Number 179 (Friday, September 14, 2012)]
[Notices]
[Pages 56842-56844]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-22591]


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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: Notice is hereby given of the final approval of a proposed 
information collection 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--Cynthia Ayouch--Division of 
Research and Statistics, Board of Governors of the Federal Reserve 
System, Washington, DC 20551 (202) 452-3829. Telecommunications Device 
for the Deaf (TDD) users may contact (202) 263-4869, Board of Governors 
of the Federal Reserve System, Washington, DC 20551.
OMB Desk Officer--Shagufta Ahmed--Office of Information and Regulatory 
Affairs, Office of Management and Budget, New Executive Office 
Building, Room 10235, 725 17th Street NW., Washington, DC 20503.
    Final approval under OMB delegated authority of the extension for 
three years, with revision, of the following reports:
    Report title: Report of Changes in Organizational Structure, Annual 
Report of Bank Holding Companies, and Annual Report of Foreign Banking 
Organizations.
    Agency form number: FR Y-10, FR Y-10 verification, FR Y-6, and FR 
Y-7.
    OMB Control number: 7100-0297.
    Effective Date: The proposed changes to the FR Y-6 and FR Y-7 
reporting forms and instructions will be effective December 31, 2012. 
The proposed changes to the FR Y-10 reporting form and instructions for 
foreign banking organizations (FBOs), top-tier bank holding companies 
(BHCs), state member banks that are not controlled by a BHC, Edge and 
agreement corporations that are not controlled by a member bank, a BHC, 
or a FBO; nationally chartered banks that are not controlled by a BHC 
(with regard to their foreign investments only), securities holding 
companies (SHCs), nonbank financial companies, and designated financial 
market utilities (DFMUs) will be effective December 1, 2012. The 
proposed changes to the FR Y-10 form and instructions for savings and 
loan holding companies (SLHCs) will be effective December 1, 2012, 
except for data on nonbank subsidiaries. SLHCs will file the FR Y-10 
data by June 30, 2013, for their nonbank subsidiaries that meet the 
quarterly

[[Page 56843]]

financial reporting criteria. SLHCs will file the FR Y-10 data by 
September 30, 2013, for their nonbank subsidiaries that file financial 
reports annually. SLHCS will file the FR Y-10 data by December 31, 
2013, for their nonbank subsidiaries that do not file financial 
reports.
    Frequency: FR Y-10: Event-generated; FR Y-10 verification: One-
time; FR Y-6 and FR Y-7: Annual.
    Reporters: FR Y-10: FBOs, top-tier BHCs, state member banks that 
are not controlled by a BHC, Edge and agreement corporations that are 
not controlled by a member bank, a BHC, or a FBO; nationally chartered 
banks that are not controlled by a BHC (with regard to their foreign 
investments only), SLHCs, SHCs, nonbank financial companies, and DFMUs; 
FR Y-6: top-tier BHCs and nonqualifying FBOs, SLHCs, SHCs, nonbank 
financial companies, and DFMUs; FR Y-7: all qualifying FBOs that engage 
in banking in the United States, either directly or indirectly.
    Estimated annual reporting hours: FR Y-10: 25,313 hours; FR Y-10 
verification: 956; FR Y-6: 29,253 hours; FR Y-7: 615 hours.
    Estimated average hours per response: FR Y-10: 2.25 hours; FR Y-10 
verification: 1.25 hours; FR Y-6: 5.25 hours; FR Y-7: 3.75 hours.
    Number of respondents: FR Y-10: 3,750; FR Y-10 verification: 765; 
FR Y-6: 5,572; FR Y-7: 164.
    General description of report: These information collections are 
mandatory under the Federal Reserve Act, the Bank Holding Company Act 
(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), and Sections 161, 312, 618, and 809 of the Dodd-Frank Act (12 
U.S.C. 5361, 5412, 1850a(c)(1), and 5468(b)(1)). 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 Freedom of Information Act 
(FOIA), (5 U.S.C. 522(b)(4) and (b)(6)).
    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 
state member bank, a BHC, or an 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-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, Regulation Y (12 CFR 225), and the Home Owners Loan Act. 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 11, 2012, the Federal Reserve published a 
notice in the Federal Register (77 FR 34384) requesting public comment 
for 60 days on the revision, with extension, of the FR Y-10, FR Y-7, 
and FR Y-6. The comment period for this notice expired on August 10, 
2012. The Federal Reserve received three comment letters addressing 
proposed changes to the FR Y-10 and FR Y-6.

Summary of Comments

FR Y-6 and FR Y-10

    The Federal Reserve received three comment letters on the proposed 
revisions to the FR Y-10 and the FR Y-6: two from bankers' 
organizations and one from a BHC.
    The bankers' organizations expressed concerns on the proposed 
timeline to submit (as a supplement to the FR Y-10) a one-time 
verification of each SLHC's organizational structure. After considering 
these comments, the Federal Reserve will scale back the information 
collected in the one-time FR Y-10 verification to require only the 
information needed to submit nonbank financial data for 2013.\1\ The 
Federal Reserve will also extend the timeline for the SLHCs to respond 
to the one-time verification from thirty days to sixty days. The 
information required in the one-time verification will be communicated 
in a transmittal letter.
---------------------------------------------------------------------------

    \1\ The changes to require SLHCs to submit financial data for 
their nonbank subsidiaries were covered in a separate proposal and 
the final notice was published December 29, 2011 (76 FR 81933).
---------------------------------------------------------------------------

    The commenters also requested a phased approach for submitting the 
FR Y-6 and FR Y-10 data based on the schedule for submitting nonbank 
financial data that are due commencing in 2013. Last year the Federal 
Reserve issued a proposal with the requirement that SLHCs begin filing 
the annual FR Y-6 report with fiscal year ends beginning December 31, 
2012.\2\ Thus, the Federal Reserve believes SLHCs have had a reasonable 
transition period to prepare for the submission of the FR Y-6 report. 
However, the Federal Reserve recognizes the challenges to meet the 
proposed submission of the event-generated FR Y-10 data and agree that 
a phased-in approach for reporting nonbank subsidiaries on the FR Y-10 
is appropriate. SLHCs will file the FR Y-10 data by June 30, 2013, for 
their nonbank subsidiaries that meet the quarterly financial reporting 
criteria. SLHCs will file the FR Y-10 data by September 30, 2013, for 
their nonbank subsidiaries that file financial reports annually. SLHCS 
will file the FR Y-10 data by December 31, 2013, for their nonbank 
subsidiaries that do not file financial reports.
---------------------------------------------------------------------------

    \2\ (76 FR 53129) August 25, 2011 and (76 FR 81933) December 29, 
2011.
---------------------------------------------------------------------------

    In addition, the bankers' organizations asked for clarification on 
the requirement for intermediate holding companies (IHC) to report the 
FR Y-6 and FR Y-10. The current regulatory reporting requirement that 
top-tier holding companies submit the FR Y-6 and FR Y-10 will continue 
until a separate proposed rule is issued on IHCs. At that time, the 
Federal Reserve will address the reporting requirements of the IHC.
    The bankers' organizations also expressed concern about reporting 
on the activities of certain SLHCs, namely ``grandfathered SLHCs'' and 
requested that the instructions be clarified. While the activities of 
grandfathered SLHCs are exempt from the limitations in 12 CFR 
238.51(b), there is no statutory or regulatory exemption from reporting 
on such activities. The reporting and examination requirements in the 
Home Owners' Loan Act and the Federal Reserve's Regulation LL apply to 
all SLHCs, with no exceptions for grandfathered SLHCs or their 
activities. Therefore, no changes will be made to the reporting 
requirements for grandfathered activities by certain SLHCs. However, 
the Federal Reserve will clarify the instructions of the reporting 
requirements for grandfathered SLHCs.

FR Y-10

    The BHC suggested using the term ``nonfinancial company'' instead 
of ``nonbanking company'' on the 4(k) Schedule of the FR Y-10 whenever 
the

[[Page 56844]]

reference is to nonfinancial investments held by a qualified financial 
holding company and reported in the lower section of the 4(k) Schedule. 
The Federal Reserve agrees and will replace the reference to nonbanking 
company with nonfinancial company on the 4(k) Schedule and instructions 
of the FR Y-10.
    Final approval under OMB delegated authority the extension for 
three years, without revision, of the following report:
    Report title: Supplement to the Report of Changes in Organizational 
Structure.
    Agency form number: FR Y-10E.
    OMB control number: 7100-0297.
    Frequency: Event-generated.
    Reporters: FBOs, top-tier bank holding companies (BHCs), state 
member banks that are not controlled by a BHC, Edge and agreement 
corporations that are not controlled by a member bank, a BHC, or a FBO; 
and nationally chartered banks that are not controlled by a BHC (with 
regard to their foreign investments only).
    Estimated annual reporting hours: 1,875 hours.
    Estimated average hours per response: 0.50 hours.
    Number of respondents: 3,750.
    General description of report: This information collection is 
mandatory under the Federal Reserve Act, the Bank Holding Company Act 
(BHC Act), and the International Banking Act (12 U.S.C. 248(a)(1), 321, 
601, 602, 611a, 615, and 625, 1843(k), 1844(c)(1)(A), 3106(a)) and 
Regulation K and Y (12 CFR 211.13(c), 225.5(b) and 225.87) and Sections 
161, 312, 618, and 809 of the Dodd-Frank Act (12 U.S.C. 5361, 5412, 
1850a(c)(1), and 5468(b)(1)). 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 Freedom of Information Act (FOIA), 
(5 U.S.C. 522(b)(4) and (b)(6)).
    Abstract: 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.
    Current Actions: On June 11, 2012, the Federal Reserve published a 
notice in the Federal Register (77 FR 34384) requesting public comment 
for 60 days on the extension, without revision, of the Supplement to 
the Report of Changes in Organizational Structure (FR Y-10E). The 
comment period for this notice expired on August 10, 2012. The Federal 
Reserve did not receive any comments on the FR Y-10E.

    Board of Governors of the Federal Reserve System, September 10, 
2012.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2012-22591 Filed 9-13-12; 8:45 am]
BILLING CODE 6210-01-P
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