Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 2932-2933 [2015-00859]
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2932
Federal Register / Vol. 80, No. 13 / Wednesday, January 21, 2015 / Notices
Estimated Time per Response: 64
hours (24 hours, reporting); 40 hours
(recordkeeping); 30 minutes
(application).
Frequency of Response: On occasion.
Estimated Total Annual Burden:
12,160 hours (recordkeeping/reporting);
10 hours (application).
Total Annual Burden: 12,170 hours.
General Description of Collection:
This collection consists of reporting and
recordkeeping requirements for
qualified financial contracts (QFCs) held
by insured depository institutions in
troubled condition.
Request for Comment
Comments are invited on: (a) Whether
the collection of information is
necessary for the proper performance of
the FDIC’s functions, including whether
the information has practical utility; (b)
the accuracy of the estimates of the
burden of the 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; and (d) ways to minimize the
burden of the information collection on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
All comments will become a matter of
public record.
Dated at Washington, DC, this 15th day of
January 2015.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2015–00868 Filed 1–20–15; 8:45 am]
BILLING CODE 6714–01–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 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
asabaliauskas on DSK5VPTVN1PROD with NOTICES
AGENCY:
VerDate Sep<11>2014
17:50 Jan 20, 2015
Jkt 235001
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 extension for three
years, without revision, of the following
information collections:
1. 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
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Frm 00021
Fmt 4703
Sfmt 4703
• 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.
Current Actions: On October 17, 2014,
the Federal Reserve published a notice
in the Federal Register (79 FR 62442)
requesting public comment for 60 days
on the extension, without revision, of
this information collection. The
comment period for this notice expired
on December 16, 2014. The Federal
Reserve did not receive any comments.
The information collection will be
extended for three years, without
revision, as proposed.
2. 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.
E:\FR\FM\21JAN1.SGM
21JAN1
asabaliauskas on DSK5VPTVN1PROD with NOTICES
Federal Register / Vol. 80, No. 13 / Wednesday, January 21, 2015 / Notices
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
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.
Current Actions: On October 17, 2014,
the Federal Reserve published a notice
in the Federal Register (79 FR 62442)
requesting public comment for 60 days
on the extension, without revision, of
this information collection. The
comment period for this notice expired
on December 16, 2014. The Federal
Reserve did not receive any comments.
The information collection will be
extended for three years, without
revision, as proposed.
3. 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
VerDate Sep<11>2014
17:50 Jan 20, 2015
Jkt 235001
for an Extension of Credit by a Creditor;
and Statement of Purpose for an
Extension of Credit Secured by Margin
Stock.
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
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Frm 00022
Fmt 4703
Sfmt 4703
2933
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.
Current Actions: On October 17, 2014,
the Federal Reserve published a notice
in the Federal Register (79 FR 62442)
requesting public comment for 60 days
on the extension, without revision, of
these information collections. The
comment period for this notice expired
on December 16, 2014. The Federal
Reserve received one comment letter
from a banker. The commenter
recommended revising the FR U–1
report to remove the attestation
requirement in Part III when the
response to Question #2 of Part I ‘‘Will
any part of this credit be used to
purchase or carry margin stock?’’ is
‘‘No’’. The Federal Reserve believes the
commenter misunderstands Question #2
of Part I, which asks the purpose of the
loan, not whether the loan is secured by
margin stock. A completed and signed
FR U–1 is only required when the loan
is secured, directly or indirectly, by
margin stock. The Federal Reserve will
extend the information collections for
three years, without revision, as
proposed.
Board of Governors of the Federal Reserve
System, January 15, 2015.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2015–00859 Filed 1–20–15; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
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 shares of 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)).
E:\FR\FM\21JAN1.SGM
21JAN1
]]>Agencies
[Federal Register Volume 80, Number 13 (Wednesday, January 21, 2015)]
[Notices]
[Pages 2932-2933]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-00859]
=======================================================================
-----------------------------------------------------------------------
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 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 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 extension for
three years, without revision, of the following information
collections:
1. 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.
Current Actions: On October 17, 2014, the Federal Reserve published
a notice in the Federal Register (79 FR 62442) requesting public
comment for 60 days on the extension, without revision, of this
information collection. The comment period for this notice expired on
December 16, 2014. The Federal Reserve did not receive any comments.
The information collection will be extended for three years, without
revision, as proposed.
2. 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.
[[Page 2933]]
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 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.
Current Actions: On October 17, 2014, the Federal Reserve published
a notice in the Federal Register (79 FR 62442) requesting public
comment for 60 days on the extension, without revision, of this
information collection. The comment period for this notice expired on
December 16, 2014. The Federal Reserve did not receive any comments.
The information collection will be extended for three years, without
revision, as proposed.
3. 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.
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.
Current Actions: On October 17, 2014, the Federal Reserve published
a notice in the Federal Register (79 FR 62442) requesting public
comment for 60 days on the extension, without revision, of these
information collections. The comment period for this notice expired on
December 16, 2014. The Federal Reserve received one comment letter from
a banker. The commenter recommended revising the FR U-1 report to
remove the attestation requirement in Part III when the response to
Question #2 of Part I ``Will any part of this credit be used to
purchase or carry margin stock?'' is ``No''. The Federal Reserve
believes the commenter misunderstands Question #2 of Part I, which asks
the purpose of the loan, not whether the loan is secured by margin
stock. A completed and signed FR U-1 is only required when the loan is
secured, directly or indirectly, by margin stock. The Federal Reserve
will extend the information collections for three years, without
revision, as proposed.
Board of Governors of the Federal Reserve System, January 15,
2015.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2015-00859 Filed 1-20-15; 8:45 am]
BILLING CODE 6210-01-P
