Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 69476-69477 [2014-27506]

Download as PDF 69476 Federal Register / Vol. 79, No. 225 / Friday, November 21, 2014 / Notices charge rule) and the rule requiring providers to maintain captions—off as the default setting for IP CTS equipment. Sorenson Communications, Inc. and CaptionCall, LLC v. FCC, 755 F.3d 702 (D.C. Cir. 2014) (D.C. Circuit IP CTS Order). On August 22, 2014, the Commission issued Telecommunications Relay Services and Speech-to-Speech Services for Individuals with Hearing and Speech Disabilities; Waivers of iTRS Mandatory Minimum Standards, CG Docket No. 03–123, Report and Order, 79 FR 62875, October 21, 2014 (iTRS Waiver Order), to make permanent waivers of certain TRS mandatory minimum standards and eliminate waivers of other TRS mandatory minimum standards for IP CTS and CTS. The Commission also eliminated the requirement that IP CTS and CTS providers file annual reports regarding the TRS mandatory minimum standards. This notice and request for comments pertains to revisions to the information collection requirements as a result of the iTRS Waiver Order eliminating the requirement that IP CTS and CTS providers file annual reports regarding the TRS mandatory minimum standards and as a result of the D.C. Circuit IP CTS Order vacating the $75 equipment charge rule and the rule requiring providers to maintain captions—off as the default setting for IP CTS equipment. Federal Communications Commission. Marlene H. Dortch, Secretary, Office of the Secretary, Office of the Managing Director. BILLING CODE 6712–01–P FEDERAL COMMUNICATIONS COMMISSION [OMB 3060–0927] Information Collection Being Reviewed by the Federal Communications Commission Under Delegated Authority Federal Communications Commission. ACTION: Notice and request for comments. mstockstill on DSK4VPTVN1PROD with NOTICES AGENCY: As part of its continuing effort to reduce paperwork burdens, and as required by the Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. 3501– 3520), the Federal Communication Commission (FCC or Commission) invites the general public and other Federal agencies to take this VerDate Sep<11>2014 18:00 Nov 20, 2014 Jkt 235001 For additional information about the information collection, contact Nicole Ongele at (202) 418–2991. SUPPLEMENTARY INFORMATION: OMB Control Number: 3060–0927. Title: Auditor’s Annual Independence and Objectivity Certification. Form Number: N/A. Type of Review: Extension of a currently approved collection. Respondents: Business or other forprofit entities. Number of Respondents: 4 respondents; 4 responses. Estimated Time per Response: 5 hours. Frequency of Response: Annual reporting requirement. Obligation to Respond: Required to obtain or retain benefits. Statutory authority for this information collection is contained in 47 U.S.C. Sections 201(b), 219(b) and 220 of the Communications Act of 1934, as amended. Total Annual Burden: 20 hours. FOR FURTHER INFORMATION CONTACT: [FR Doc. 2014–27524 Filed 11–20–14; 8:45 am] SUMMARY: opportunity to comment on the following information collections. Comments are requested concerning: Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; the accuracy of the Commission’s burden estimate; ways to enhance the quality, utility, and clarity of the information collected; ways to minimize the burden of the collection of information on the respondents, including the use of automated collection techniques or other forms of information technology; and ways to further reduce the information collection burden on small business concerns with fewer than 25 employees. The FCC may not conduct or sponsor a collection of information unless it displays a currently valid OMB control number. No person shall be subject to any penalty for failing to comply with a collection of information subject to the PRA that does not display a valid OMB control number. DATES: Written PRA comments should be submitted on or before January 20, 2015. If you anticipate that you will be submitting comments, but find it difficult to do so within the period of time allowed by this notice, you should advise the contact listed below as soon as possible. ADDRESSES: Direct all PRA comments to Nicole Ongele, FCC, via email PRA@fcc.gov and to Nicole.Ongele@fcc.gov. PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 Total Annual Cost: No cost. Privacy Impact Assessment: No impact(s). Nature and Extent of Confidentiality: There is no need for confidentiality. However, respondents may request materials or information submitted to the Commission be withheld from public inspection under 47 CFR 0.459 of the Commission’s rules. Needs and Uses: Section 64.904 requires certain local exchange carriers, in connection with their cost allocation manual filings and the accompanying financial reports the Commission prescribes under 47 U.S.C. 201(b), 219(b) and 220, to have an attest engagement performed by an independent auditor every two years, over the prior two year period. The attest engagement is to be performed in accordance with the attestation standards established by the American Institute of Certified Public Accountants (AICPA), except as otherwise directed by the Chief, Enforcement Bureau. The audit is to be conducted in compliance with generally accepted auditing standards (GAAS), except as otherwise directed by the Commission’s Enforcement Bureau. The Responsible Accounting Office (RAO) letter requires that carriers’ independent auditors: (a) Disclose in writing all relationships between the auditor and its related entities and the carrier and its related entities that in the auditor’s professional judgment may reasonably be thought to bear on independence; (b) Confirm in writing that in its professional judgment it is independent of the carrier; and (c) Discuss the auditor’s independence. The information is used by the Commission to determine whether the independent auditors are performing their audits independently and unbiased of the carrier they audit. Federal Communications Commission. Marlene H. Dortch, Secretary, Office of the Secretary, Office of the Managing Director. [FR Doc. 2014–27525 Filed 11–20–14; 8:45 am] BILLING CODE 6712–01–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 AGENCY: E:\FR\FM\21NON1.SGM 21NON1 mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 79, No. 225 / Friday, November 21, 2014 / Notices 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 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. 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 revision, without extension, of the following report: Report title: Capital and Asset Report for Foreign Banking Organizations. Agency form number: FR Y–7Q. OMB control number: 7100–0125.1 Frequency: Quarterly and annually. Reporters: Foreign Banking Organizations. Estimated annual reporting hours: FR Y–7Q (quarterly): 763 hours; FR Y–7Q (annually): 65 hours. Estimated average hours per response: FR Y–7Q (quarterly): 1.75 hours; FR Y– 7Q (annually): 1.5 hours. Number of respondents: FR Y–7Q (quarterly): 109; FR Y–7Q (annually): 43. General description of report: This information collection is mandatory (12 U.S.C. 1844(c), 3106(c) and 3108)). Overall, the Federal Reserve does not 1 Also included in this family of reports are the following reports, which are not being revised: the Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (FR Y–7N) and the Abbreviated Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (FR Y–7NS). VerDate Sep<11>2014 18:00 Nov 20, 2014 Jkt 235001 consider these data to be confidential. However, individual respondents may request confidential treatment for any of these reports pursuant to sections (b)(4) and (b)(6) of the Freedom of Information Act (5 U.S.C. 522(b)(4) and (b)(6)). The applicability of these exemptions would need to be determined on a case-by-case basis. Abstract: The FR Y–7Q collects consolidated regulatory capital information from all FBOs either quarterly or annually. The FR Y–7Q is filed quarterly by FBOs that have effectively elected to become financial holding companies (FHCs) and by FBOs that have total consolidated assets of $50 billion or more, regardless of FHC status. All other FBOs file the FR Y–7Q annually. Current Actions: On June 18, 2014, the Federal Reserve published a notice in the Federal Register (79 FR 34753) requesting public comment for 60 days on the revision to the FR Y–7Q. The comment period for this notice expired on August 18, 2014. The Federal Reserve received one comment letter addressing the proposed revision of this information collection. The comment is summarized and addressed below. Summary of Public Comment The Federal Reserve received one comment letter regarding the proposed revision to the FR Y–7Q from one industry association. The commenter asked for an explanation of the instructions for calculating the proposed new data item, Total U.S. non-branch assets, and suggested an alternative approach for calculating the new item. Detailed Discussion of Public Comment and Recommended Response Under the proposal, in December 2014, the Federal Reserve proposed to collect a new data item, Total U.S. nonbranch assets, to determine whether an FBO meets the threshold for formation of a U.S. IHC. This item would collect the sum of the total combined assets of a top-tier FBO’s top-tier U.S. domiciled affiliates.2 In situations where a top-tier U.S. domiciled affiliate is a parent of one or more subsidiaries, the total consolidated assets of the affiliate would include the assets of the affiliate and its subsidiaries, in accordance with U.S. Generally Accepted Accounting Principles (GAAP), and the total consolidated assets (or total assets, as applicable) of each top-tier U.S. 2 Total combined assets of the top-tier FBO’s U.S. domiciled affiliates should exclude the assets of section 2(h)(2) companies as defined in section 2(h)2 of the Bank Holding Company Act (12 U.S.C. 1841(h)(2)) and DPC branch subsidiaries. This item excludes the assets of U.S. branches and agencies. PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 69477 domiciled affiliate would be combined. In situations where a top-tier U.S. domiciled subsidiary is not consolidated with the FBO for GAAP purposes, that entity would be accounted for under the equity method and the sum of the amount of the investments would be included in the sum of the total combined assets of toptier U.S. domiciled affiliates. The Federal Reserve received one comment on the proposed new item, Total U.S. non-branch assets. To produce the new item, the commenter suggested subtracting total U.S. branch and agency assets from an existing report item, Total combined assets of U.S. operations, net of intercompany balances and transaction between U.S. domiciled affiliates, branches, and agencies. However, the modification suggested by the commenter would result in FBOs understating their U.S. non-branch assets because the U.S. subsidiaries’ asset exposures to affiliated U.S. branches and agencies would be excluded from the calculation. As described in the preamble to Regulation YY, the final rule requires an FBO to reduce its U.S. non-branch asset by the amount corresponding to any balances and transactions between any top tier U.S. subsidiaries that would be eliminated in consolidation.3 However, the final rule does not permit an FBO to reduce its U.S. non-branch asset by the amount corresponding to balances and transactions between the U.S. subsidiaries and its U.S. branches and agencies or non-U.S. affiliates.4 After careful consideration of the suggested alternative and for the reasons discussed above, the Federal Reserve will implement the proposed line item without modification. Board of Governors of the Federal Reserve System, November 17, 2014. Robert deV. Frierson, Secretary of the Board. [FR Doc. 2014–27506 Filed 11–20–14; 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 3 79 4 12 FR 17240, 17273 (March 27, 2014). CFR 252.152(b)(2). E:\FR\FM\21NON1.SGM 21NON1

Agencies

[Federal Register Volume 79, Number 225 (Friday, November 21, 2014)]
[Notices]
[Pages 69476-69477]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-27506]


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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

[[Page 69477]]

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 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.
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 revision, 
without extension, of the following report:
    Report title: Capital and Asset Report for Foreign Banking 
Organizations.
    Agency form number: FR Y-7Q.
    OMB control number: 7100-0125.\1\
---------------------------------------------------------------------------

    \1\ Also included in this family of reports are the following 
reports, which are not being revised: the Financial Statements of 
U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (FR 
Y-7N) and the Abbreviated Financial Statements of U.S. Nonbank 
Subsidiaries Held by Foreign Banking Organizations (FR Y-7NS).
---------------------------------------------------------------------------

    Frequency: Quarterly and annually.
    Reporters: Foreign Banking Organizations.
    Estimated annual reporting hours: FR Y-7Q (quarterly): 763 hours; 
FR Y-7Q (annually): 65 hours.
    Estimated average hours per response: FR Y-7Q (quarterly): 1.75 
hours; FR Y-7Q (annually): 1.5 hours.
    Number of respondents: FR Y-7Q (quarterly): 109; FR Y-7Q 
(annually): 43.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(c), 3106(c) and 3108)). Overall, the Federal 
Reserve does not consider these data to be confidential. However, 
individual respondents may request confidential treatment for any of 
these reports pursuant to sections (b)(4) and (b)(6) of the Freedom of 
Information Act (5 U.S.C. 522(b)(4) and (b)(6)). The applicability of 
these exemptions would need to be determined on a case-by-case basis.
    Abstract: The FR Y-7Q collects consolidated regulatory capital 
information from all FBOs either quarterly or annually. The FR Y-7Q is 
filed quarterly by FBOs that have effectively elected to become 
financial holding companies (FHCs) and by FBOs that have total 
consolidated assets of $50 billion or more, regardless of FHC status. 
All other FBOs file the FR Y-7Q annually.
    Current Actions: On June 18, 2014, the Federal Reserve published a 
notice in the Federal Register (79 FR 34753) requesting public comment 
for 60 days on the revision to the FR Y-7Q. The comment period for this 
notice expired on August 18, 2014. The Federal Reserve received one 
comment letter addressing the proposed revision of this information 
collection. The comment is summarized and addressed below.

Summary of Public Comment

    The Federal Reserve received one comment letter regarding the 
proposed revision to the FR Y-7Q from one industry association. The 
commenter asked for an explanation of the instructions for calculating 
the proposed new data item, Total U.S. non-branch assets, and suggested 
an alternative approach for calculating the new item.

Detailed Discussion of Public Comment and Recommended Response

    Under the proposal, in December 2014, the Federal Reserve proposed 
to collect a new data item, Total U.S. non-branch assets, to determine 
whether an FBO meets the threshold for formation of a U.S. IHC. This 
item would collect the sum of the total combined assets of a top-tier 
FBO's top-tier U.S. domiciled affiliates.\2\ In situations where a top-
tier U.S. domiciled affiliate is a parent of one or more subsidiaries, 
the total consolidated assets of the affiliate would include the assets 
of the affiliate and its subsidiaries, in accordance with U.S. 
Generally Accepted Accounting Principles (GAAP), and the total 
consolidated assets (or total assets, as applicable) of each top-tier 
U.S. domiciled affiliate would be combined. In situations where a top-
tier U.S. domiciled subsidiary is not consolidated with the FBO for 
GAAP purposes, that entity would be accounted for under the equity 
method and the sum of the amount of the investments would be included 
in the sum of the total combined assets of top-tier U.S. domiciled 
affiliates.
---------------------------------------------------------------------------

    \2\ Total combined assets of the top-tier FBO's U.S. domiciled 
affiliates should exclude the assets of section 2(h)(2) companies as 
defined in section 2(h)2 of the Bank Holding Company Act (12 U.S.C. 
1841(h)(2)) and DPC branch subsidiaries. This item excludes the 
assets of U.S. branches and agencies.
---------------------------------------------------------------------------

    The Federal Reserve received one comment on the proposed new item, 
Total U.S. non-branch assets. To produce the new item, the commenter 
suggested subtracting total U.S. branch and agency assets from an 
existing report item, Total combined assets of U.S. operations, net of 
intercompany balances and transaction between U.S. domiciled 
affiliates, branches, and agencies. However, the modification suggested 
by the commenter would result in FBOs understating their U.S. non-
branch assets because the U.S. subsidiaries' asset exposures to 
affiliated U.S. branches and agencies would be excluded from the 
calculation. As described in the preamble to Regulation YY, the final 
rule requires an FBO to reduce its U.S. non-branch asset by the amount 
corresponding to any balances and transactions between any top tier 
U.S. subsidiaries that would be eliminated in consolidation.\3\ 
However, the final rule does not permit an FBO to reduce its U.S. non-
branch asset by the amount corresponding to balances and transactions 
between the U.S. subsidiaries and its U.S. branches and agencies or 
non-U.S. affiliates.\4\
---------------------------------------------------------------------------

    \3\ 79 FR 17240, 17273 (March 27, 2014).
    \4\ 12 CFR 252.152(b)(2).
---------------------------------------------------------------------------

    After careful consideration of the suggested alternative and for 
the reasons discussed above, the Federal Reserve will implement the 
proposed line item without modification.

    Board of Governors of the Federal Reserve System, November 17, 
2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014-27506 Filed 11-20-14; 8:45 am]
BILLING CODE 6210-01-P