Proposed Agency Information Collection Activities; Comment Request, 62442-62444 [2014-24690]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 79, Number 201 (Friday, October 17, 2014)]
[Notices]
[Pages 62442-62444]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-24690]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board of Governors of the Federal Reserve System 
(Board) its approval authority under the Paperwork Reduction Act (PRA), 
pursuant to 5 CFR 1320.16, to approve of and assign OMB control numbers 
to collection of information requests and requirements conducted or 
sponsored by the Board under conditions set forth in 5 CFR 1320 
Appendix A.1. 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 instruments 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.

DATES: Comments must be submitted on or before December 16, 2014.

ADDRESSES: You may submit comments, identified by FR GTU, or FR 2030, 
FR 2030a, FR 2056, FR 2086, FR 2086a, FR 2087, or FR 2083 by any of the 
following methods:
     Agency Web site: https://www.federalreserve.gov. Follow the 
instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: regs.comments@federalreserve.gov. Include OMB 
number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Robert deV. Frierson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue NW., 
Washington, DC 20551.
    All public comments are available from the Board's Web site at 
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons. Accordingly, your comments will 
not be edited to remove any identifying or contact information. Public 
comments may also be viewed electronically or in paper form in Room MP-
500 of the Board's Martin Building (20th and C Streets NW.) between 9 
a.m. and 5 p.m. on weekdays.
    Additionally, commenters may send a copy of their comments to the 
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 or by 
fax to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public Web site at: https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    Federal Reserve Board Acting Clearance Officer--John Schmidt--
Office of the Chief Data Officer, 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.

SUPPLEMENTARY INFORMATION:

Request for Comment on Information Collection Proposals

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, along with an analysis of 
comments and recommendations received, will be submitted to the Board 
for final approval under OMB delegated authority. Comments are invited 
on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve's estimate of the burden of 
the proposed information collection, including the validity of the 
methodology and assumptions used;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    d. Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or start up costs and costs of operation, 
maintenance, and purchase of services to provide information.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, Without Revision, of the Following Reports

    1. Report titles: Registration Statement for Persons Who Extend 
Credit Secured by Margin Stock (Other Than Banks, Brokers, or Dealers); 
Deregistration Statement for Persons Registered Pursuant to Regulation 
U; Statement of Purpose for an Extension of Credit Secured by Margin 
Stock by a Person Subject to Registration Under Regulation U; Annual 
Report; Statement of Purpose for an Extension of Credit by a Creditor; 
and Statement of Purpose for an Extension of Credit Secured by Margin 
Stock.

[[Page 62443]]

    Agency form numbers: FR G-1, FR G-2, FR G-3, FR G-4, FR T-4, FR U-
1.
    OMB control numbers: 7100-0011: FR G-1, FR G-2, FR G-4; 7100-0018: 
FR G-3; 7100-0019: FR T-4; 7100-0115: FR U-1.
    Frequency: FR G-1, FR G-2, FR G-3, FR T-4, and FR U-1: on occasion; 
FR G-4: annual.
    Reporters: Individuals and businesses.
    Estimated annual reporting hours: 245 hours.
    Estimated average hours per response: FR G-1: 2.5 hours; FR G-2: 15 
minutes; FR G-3: 10 minutes; FR G-4: 2.0 hours; FR T-4: 10 minutes; FR 
U-1: 10 minutes.
    Number of respondents: FR G-1: 52; FR G-2: 25; FR G-3: 6; FR G-4: 
12; FR T-4: 4; FR U-1: 4.
    General description of reports: This information collection is 
mandatory (15 U.S.C. 78g). In addition, the FR T-4 is required by 
Section 220.6 of Regulation T (12 CFR 220.6), the FR U-1 is required by 
Sections 221.3(c)(1)(i) and (2)(i) of Regulation U (12 CFR 
221.3(c)(1)(i) and (2)(i)), and the FR G-1, G-2, G-3, and G-4 are 
required by Sections 221.3(b)(1), (2), and (3), and (c)(1)(ii) and 
(2)(ii) of Regulation U (12 CFR 221.3(b)(1), (2), and (3), and 
(c)(1)(ii) and (2)(ii)).
    The FR G-1 and FR G-4 collect financial information, including a 
balance sheet, from nonbank lenders subject to Regulation U. Some of 
these lenders may be individuals or nonbank entities that do not make 
this information publicly available; release could therefore cause 
substantial harm to the competitive position of the respondent or 
result in an unwarranted invasion of personal privacy. In those cases, 
the information could be withheld under Exemption 4 or Exemption 6 of 
FOIA, 5 U.S.C. 552(b)(4) and (6), respectively. Confidentiality 
determinations must be made on a case by case basis. Because the FR T-
4, FR U-1, and FR G-3 are not submitted to the Federal Reserve System, 
and the FR G-2 does not contain any information considered to be 
confidential, no confidentiality determination is necessary for these 
reports.
    Abstract: The Securities Exchange Act of 1934 authorizes the 
Federal Reserve to regulate securities credit extended by brokers and 
dealers, banks, and other lenders. The purpose statements, FR T-4, FR 
U-1, and FR G-3, are recordkeeping requirements for brokers and 
dealers, banks, and other lenders, respectively, to document the 
purpose of their loans secured by margin stock. Margin stock is defined 
as (1) stocks that are registered on a national securities exchange or 
any over-the-counter security designated for trading in the National 
Market System, (2) debt securities (bonds) that are convertible into 
margin stock, and (3) shares of most mutual funds. Lenders other than 
brokers and dealers and banks must register and deregister with the 
Federal Reserve using the FR G-1 and FR G-2, respectively, and they 
must file an annual report (FR G-4) while registered. The Federal 
Reserve uses the data to identify lenders subject to Regulation U, to 
verify their compliance with the regulation, and to monitor margin 
credit.
    2. Report title: Applications for Subscription to, Adjustment in 
the Holding of, and Cancellation of Federal Reserve Bank Stock.
    Agency form number: FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, 
FR 2087.
    OMB control number: 7100-0042.
    Frequency: On occasion.
    Reporters: National, State Member, and Nonmember banks.
    Estimated annual reporting hours: FR 2030: 2 hours; FR 2030a: 1 
hour; FR 2056: 667 hours; FR 2086: 23 hours; FR 2086a: 40 hours; FR 
2087: 1 hour.
    Estimated average hours per response: .5 hours.
    Number of respondents: FR 2030: 4; FR 2030a: 2; FR 2056: 1,333; FR 
2086: 45; FR 2086a: 79; FR 2087: 1.
    General description of report: These information collections are 
mandatory.
     FR 2030 and FR 2030a: Section 2 of the Federal Reserve Act 
[12 U.S.C. 222 and 282] and Sections 9 and 11(a) of the Federal Reserve 
Act [12 U.S.C. 248(a) and 321];
     FR 2056: Section 5 of the Federal Reserve Act [12 U.S.C. 
287] and Sections 11(a) and (i) of the Federal Reserve Act [12 U.S.C. 
248(a) and (i)];
     FR 2086: Section 5 of the Federal Reserve Act [12 U.S.C. 
287] and Sections 11(a) and (i) of the Federal Reserve Act [12 U.S.C. 
248(a) and (i)];
     FR 2086a: Section 9 of the Federal Reserve Act [12 U.S.C. 
321], Section 5 of the Federal Reserve Act [12 U.S.C. 287], and Section 
11(a) of the Federal Reserve Act [12 U.S.C. 248(a)]; and
     FR 2087: Section 6 of the Federal Reserve Act [12 U.S.C. 
288] and Sections 11(a) and (i) of the Federal Reserve Act [12 U.S.C. 
248 (a) and (i)].
    The information solicited in these application forms is not 
considered confidential, but applicants may request that parts of the 
forms be kept confidential. Any request for confidential treatment of 
information must be accompanied by a detailed justification for 
confidentiality. For example, a justification for confidential 
treatment of business information under exemption 4 of the Freedom of 
Information Act (FOIA), 5 U.S.C. 552(b)(4), should demonstrate that 
substantial harm would result from public release of the information. 
Submissions of these forms may also be exempt under exemption 6 of 
FOIA, 5. U.S.C. 552(b)(6), if a submitter identifies information of a 
personal nature the disclosure of which would result in a clearly 
unwarranted invasion of personal privacy. Additionally, exemption 8 of 
FOIA, 5 U.S.C. 552(b)(8) may apply to the extent the reported 
information is contained in or related to examination reports. Each 
request for confidentiality that is received by a submitter of these 
forms will need to be reviewed on a case-by-case basis.
    Abstract: These application forms are required by the Federal 
Reserve Act and Regulation I. These forms must be used by a new or 
existing member bank (including a national bank) to request the 
issuance, and adjustment in, or cancellation of Federal Reserve Bank 
stock. The forms must contain certain certifications by the applicants, 
as well as certain other financial and shareholder data that is needed 
by the Federal Reserve to process the request.
    3. Report title: Application for Membership in the Federal Reserve 
System.
    Agency form number: FR 2083, 2083A, 2083B, and 2083C.
    OMB control number: 7100-0046.
    Frequency: On occasion.
    Reporters: Newly organized banks that seek to become state member 
banks, or existing banks or savings institutions that seek to convert 
to state member bank status.
    Estimated annual reporting hours: 184 hours.
    Estimated average hours per response: 4 hours.
    Number of respondents: 46.
    General description of report: This information collection is 
mandatory (Section 9 of the Federal Reserve Act [12 U.S.C. 321, 322, 
and 333]). The information solicited in this application form is not 
considered confidential, but applicants may request that parts of the 
form be kept confidential. Any request for confidential treatment of 
information must be accompanied by a detailed justification for 
confidentiality. For example, a justification for confidential 
treatment of business information under exemption 4 of the Freedom of 
Information Act (FOIA), 5 U.S.C. 552(b)(4), should demonstrate that 
substantial harm would result from public release of the information. 
Submissions of this form may also be exempt under exemption 6 of FOIA, 
5. U.S.C. 552(b)(6), if a submitter identifies

[[Page 62444]]

information of a personal nature the disclosure of which would result 
in a clearly unwarranted invasion of personal privacy. Additionally, 
exemption 8 of FOIA, 5 U.S.C. 552(b)(8) may apply to the extent the 
reported information is contained in or related to examination reports. 
Each request for confidentiality that is received by a submitter of 
this form will need to be reviewed on a case-by-case basis.
    Abstract: The application for membership is a required one-time 
submission that collects the information necessary for the Federal 
Reserve to evaluate the statutory criteria for admission of a new or 
existing state bank into membership in the Federal Reserve System. The 
application collects managerial, financial, and structural data.

    Board of Governors of the Federal Reserve System, October 14, 
2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014-24690 Filed 10-16-14; 8:45 am]
BILLING CODE 6210-01-P