Proposed Agency Information Collection Activities; Comment Request, 19062-19064 [2018-09083]
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19062
Federal Register / Vol. 83, No. 84 / Tuesday, May 1, 2018 / Notices
legal standard in denying the Secretary’s
motion to approve settlement.)
Any person attending this oral
argument who requires special
accessibility features and/or auxiliary
aids, such as sign language interpreters,
must inform the Commission in advance
of those needs. Subject to 29 CFR
2706.150(a)(3) and § 2706.160(d).
Emogene Johnson (202) 434–9935/(202)
708–9300 for TDD Relay/1–800–877–
8339 for toll free.
PHONE NUMBER FOR LISTENING TO
ARGUMENT: 1–(866) 867–4769, Passcode:
678–100.
Sarah L. Stewart,
Deputy General Counsel.
[FR Doc. 2018–09292 Filed 4–27–18; 4:15 pm]
BILLING CODE 6735–01–P
FEDERAL MINE SAFETY AND HEALTH
REVIEW COMMISSION
Sunshine Act Notice
April 27, 2018.
10:00 a.m., Thursday,
May 10, 2018.
The Richard V. Backley Hearing
Room, Room 511N, 1331 Pennsylvania
Avenue NW, Washington, DC 20004
(enter from F Street entrance).
PLACE:
STATUS:
Open.
The
Commission will consider and act upon
the following in open session: Secretary
of Labor v. The American Coal
Company, Docket No. LAKE 2011–13
(Issues include whether the Judge erred
by applying an incorrect legal standard
in denying the Secretary’s motion to
approve settlement.)
Any person attending this meeting
who requires special accessibility
features and/or auxiliary aids, such as
sign language interpreters, must inform
the Commission in advance of those
needs. Subject to 29 CFR 2706.150(a)(3)
and § 2706.160(d).
MATTERS TO BE CONSIDERED:
CONTACT PERSON FOR MORE INFO:
amozie on DSK30RV082PROD with NOTICES
Emogene Johnson (202) 434–9935/(202)
708–9300 for TDD Relay/1–800–877–
8339 for toll free.
PHONE NUMBER FOR LISTENING TO
MEETING: 1–(866) 867–4769, Passcode:
678–100.
Sarah L. Stewart,
Deputy General Counsel.
[FR Doc. 2018–09293 Filed 4–27–18; 4:15 pm]
BILLING CODE 6735–01–P
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Proposed Agency Information
Collection Activities; Comment
Request
Board of Governors of the
Federal Reserve System.
ACTION: Notice, request for comment.
AGENCY:
The Board of Governors of the
Federal Reserve System (Board) invites
comment on a proposal to extend for
three years, with revision, the Financial
Statements of U.S. Nonbank
Subsidiaries of U.S. Holding
Companies, and the Abbreviated
Financial Statements of U.S. Nonbank
Subsidiaries of U.S. Holding Companies
(FR Y–11 and FR Y–11S; OMB No.
7100–0244); the Financial Statements of
Foreign Subsidiaries of U.S. Banking
Organizations and the Abbreviated
Financial Statements of Foreign
Subsidiaries of U.S. Banking
Organizations (FR 2314 and FR 2314S;
OMB No. 7100–0073); and the Financial
Statements of U.S. Nonbank
Subsidiaries Held by Foreign Banking
Organizations, Abbreviated Financial
Statements of U.S. Nonbank
Subsidiaries Held by Foreign Banking
Organizations, and the Capital and
Asset Report of Foreign Banking
Organizations (FR Y–7N, FR Y–7NS,
and FR Y–Q; OMB No. 7100–0125).
DATES: Comments must be submitted on
or before July 2, 2018.
ADDRESSES: You may submit comments,
identified by FR Y–11, FR 2314, or FR
Y–7N by any of the following methods:
• Agency Website: https://
www.federalreserve.gov. Follow the
instructions for submitting comments at
https://www.federalreserve.gov/apps/
foia/proposedregs.aspx.
• Email: regs.comments@
federalreserve.gov. Include OMB
number in the subject line of the
message.
• FAX: (202) 452–3819 or (202) 452–
3102.
• Mail: Ann E. Misback, 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 website 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 3515, 1801 K Street
(between 18th and 19th Streets NW)
Washington, DC 20006 between 9:00
SUMMARY:
CONTACT PERSON FOR MORE INFO:
TIME AND DATE:
FEDERAL RESERVE SYSTEM
PO 00000
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a.m. and 5:00 p.m. on weekdays. For
security reasons, the Board requires that
visitors make an appointment to inspect
comments. You may do so by calling
(202) 452–3684. Upon arrival, visitors
will be required to present valid
government-issued photo identification
and to submit to security screening in
order to inspect and photocopy
comments.
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 website 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 Clearance
Officer—Nuha Elmaghrabi—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: On June
15, 1984, the Office of Management and
Budget (OMB) delegated to the Board
authority under the Paperwork
Reduction Act (PRA) to approve and
assign OMB control numbers to
collection of information requests and
requirements conducted or sponsored
by the Board. In exercising this
delegated authority, the Board is
directed to provide the public with
reasonable opportunity to comment. In
determining whether to approve a
collection of information, the Board will
consider all comments received from
the public and other agencies.
Request for Comment on Information
Collection Proposal
The Board invites public comment on
the following information collection,
which is being reviewed under
authority delegated by the OMB under
the PRA. Comments are invited on all
aspects of the proposal, including:
a. Whether the proposed collection of
information is necessary for the proper
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Federal Register / Vol. 83, No. 84 / Tuesday, May 1, 2018 / Notices
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 startup costs
and costs of operation, maintenance,
and purchase of services to provide
information.
At the end of the comment period, the
comments and recommendations
received will be analyzed to determine
the extent to which the Federal Reserve
should modify the proposal.
Proposal to approve under OMB
delegated authority the extension for
three years, with revision, of the
following information collections:
1. Report title: Financial Statements of
U.S. Nonbank Subsidiaries of U.S.
Holding Companies and the
Abbreviated Financial Statements of
U.S. Nonbank Subsidiaries of U.S.
Holding Companies.
Agency form number: FR Y–11 and
FR Y–11S.
OMB control number: 7100–0244.
Frequency: Quarterly and annually.
Reporters: Domestic bank holding
companies, savings and loan holding
companies, securities holding
companies, and intermediate holding
companies (collectively, ‘‘holding
companies’’).
Estimated annual reporting hours: FR
Y–11 (quarterly): 12,539; FR Y–11
(annual): 1,299; FR Y–11S: 287.
Estimated average hours per response:
FR Y–11 (quarterly): 6.8; FR Y–11
(annual): 6.8; FR Y–11S: 1.
Number of respondents: FR Y–11
(quarterly): 461; FR Y–11 (annual): 191;
FR Y–11S: 287.
General Description of Report: The FR
Y–11 family of reports collects financial
information for individual U.S. nonbank
subsidiaries of domestic holding
companies, which is essential for
monitoring the subsidiaries’ potential
impact on the condition of the holding
company or its subsidiary banks.
Holding companies file the FR Y–11 on
a quarterly or annual basis or the FR Y–
11S on an annual basis, predominantly
based on whether the organization
meets certain asset size thresholds.
Legal authorization and
confidentiality: The Board has the
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authority to require BHCs and any
subsidiary thereof, savings and loan
holding companies and any subsidiary
thereof, and securities holding
companies and any affiliate thereof to
file the FR Y–11 pursuant to,
respectively, section 5(c) of the Bank
Holding Company Act (‘‘BHC Act’’) (12
U.S.C. 1844(c)), section 10(b) of the
Homeowners’ Loan Act (12 U.S.C.
1467a(b)), and section 618 of the DoddFrank Wall Street Reform and Consumer
Protection Act (‘‘Dodd-Frank Act’’) (12
U.S.C. 1850a). With respect to FBOs and
their subsidiary IHCs, section 5(c) of the
BHC Act, in conjunction with section 8
of the International Banking Act (12
U.S.C. 3106), authorizes the board to
require FBOs and any subsidiary thereof
to file the FR Y–11 reports. These
reports are mandatory.
Information collected in these reports
generally is not considered confidential.
However, because the information is
collected as part of the Board’s
supervisory process, certain information
may be afforded confidential treatment
pursuant to exemption 8 of the Freedom
of Information Act (‘‘FOIA’’). (5 U.S.C.
552(b)(8)). Individual respondents may
request that certain data be afforded
confidential treatment pursuant to
exemption 4 of FOIA if the data has not
previously been publically disclosed
and the release of the data would likely
cause substantial harm to the
competitive position of the respondent.
(5 U.S.C. 552(b)(4)). Additionally,
individual respondents may request that
personally identifiable information be
afforded confidential treatment
pursuant to exemption 6 of FOIA if the
release of the information would
constitute a clearly unwarranted
invasion of personal privacy. (5 U.S.C.
552(b)(6)). The applicability of FOIA
exemptions 4 and 6 would be
determined on a case-by-case basis.
2. Report title: Financial Statements of
Foreign Subsidiaries of U.S. Banking
Organizations and the Abbreviated
Financial Statements of Foreign
Subsidiaries of U.S. Banking
Organizations.
Agency form number: FR 2314 and FR
2314S.
OMB control number: 7100–0073.
Frequency: Quarterly and annually.
Reporters: U.S. state member banks,
BHCs, SLHCs, IHCs, and Edge or
agreement corporations.
Estimated annual reporting hours: FR
2314 (quarterly): 12,514; FR 2314
(annual): 1,485; FR 2314S: 297.
Estimated average hours per response:
FR 2314 (quarterly): 6.8; FR 2314
(annual): 6.8; FR 2314S: 1.
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19063
Number of respondents: FR 2314
(quarterly): 474; FR 2314 (annual): 225;
FR 2314S: 297.
General description of report: The FR
2314 family of reports is the only source
of comprehensive and systematic data
on the assets, liabilities, and earnings of
the foreign nonbank subsidiaries of U.S.
banking organizations, and the data are
used to monitor the growth,
profitability, and activities of these
foreign companies. The data help the
Federal Reserve identify present and
potential problems of these companies,
monitor their activities in specific
countries, and develop a better
understanding of activities within the
industry and within specific
institutions. Parent organizations
(SMBs, Edge and agreement
corporations, or holding companies) file
the FR 2314 on a quarterly or annual
basis, or the FR 2314S on an annual
basis, predominantly based on whether
the organization meets certain asset size
thresholds.
Legal authorization and
confidentiality: The Board has the
authority to require BHCs and any
subsidiary thereof, savings and loan
holding companies and any subsidiary
thereof, and securities holding
companies and any affiliate thereof to
file the FR 2314 pursuant to,
respectively, section 5(c) of the Bank
Holding Company Act (‘‘BHC Act’’) (12
U.S.C. 1844(c)), section 10(b) of the
Homeowners’ Loan Act (12 U.S.C.
1467a(b)), and section 618 of the DoddFrank Wall Street Reform and Consumer
Protection Act (‘‘Dodd-Frank Act’’) (12
U.S.C. 1850a). The Board has the
authority to require SMBs, agreement
corporations, and Edge corporations to
file the FR 2314 pursuant to,
respectively, sections 9(6), 25(7), and
25A(17) of the Federal Reserve Act (12
U.S.C. 324, 602, and 625). With respect
to FBOs and their subsidiary IHCs,
section 5(c) of the BHC Act, in
conjunction with section 8 of the
International Banking Act (12 U.S.C.
3106), authorizes the board to require
FBOs and any subsidiary thereof to file
the FR 2314 reports. These reports are
mandatory.
Information collected in these reports
generally is not considered confidential.
However, because the information is
collected as part of the Board’s
supervisory process, certain information
may be afforded confidential treatment
pursuant to exemption 8 of FOIA. (5
U.S.C. 552(b)(8)). Individual
respondents may request that certain
data be afforded confidential treatment
pursuant to exemption 4 of FOIA if the
data has not previously been publically
disclosed and the release of the data
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19064
Federal Register / Vol. 83, No. 84 / Tuesday, May 1, 2018 / Notices
would likely cause substantial harm to
the competitive position of the
respondent. (5 U.S.C. 552(b)(4)).
Additionally, individual respondents
may request that personally identifiable
information be afforded confidential
treatment pursuant to exemption 6 of
FOIA if the release of the information
would constitute a clearly unwarranted
invasion of personal privacy. (5 U.S.C.
552(b)(6)). The applicability of FOIA
exemptions 4 and 6 would be
determined on a case-by-case basis.
3. Report title: The Financial
Statements of U.S. Nonbank
Subsidiaries Held by Foreign Banking
Organizations, Abbreviated Financial
Statements of U.S. Nonbank
Subsidiaries Held by Foreign Banking
Organizations, and the Capital and
Asset Report of Foreign Banking
Organizations.
Agency form number: FR Y–7N, FR
Y–7NS, and FR Y–7Q.
OMB control number: 7100–0125.
Frequency: Quarterly and annually.
Reporters: Foreign bank organizations
(FBOs).
Estimated annual reporting hours: FR
Y–7N (quarterly): 1,224; FR Y–7N
(annual): 156; FR Y–7NS: 31; FR Y–7Q
(quarterly): 1,632; FR Y–7Q (annual): 48.
Estimated average hours per response:
FR Y–7N (quarterly): 6.8; FR Y–7N
(annual): 6.8; FR Y–7NS: 1; FR Y–7Q
(quarterly): 3; FR Y–7Q (annual): 1.5.
Number of respondents: FR Y–7N
(quarterly): 45; FR Y–7N (annual): 23 FR
Y–7NS: 31; FR Y–7Q (quarterly): 136;
FR Y–7Q (annual): 32.
General Description of Report: The FR
Y–7N and the FR Y–7NS are used 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. FBOs
file the FR Y– 7N quarterly or annually
or the FR Y– 7NS annually
predominantly based on asset size
thresholds. The FR Y–7Q is used to
assess consolidated regulatory capital
and asset information from all FBOs.
The FR Y–7Q is filed quarterly by FBOs
that have effectively elected to become
or be treated as a U.S. financial holding
company (FHC) 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.
Legal authorization and
confidentiality: With respect to FBOs
and their subsidiary IHCs, section 5(c)
of the BHC Act, in conjunction with
section 8 of the International Banking
Act (12 U.S.C. 3106), authorizes the
board to require FBOs and any
subsidiary thereof to file the FR Y–7N
reports, and the FR Y–7Q.
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Information collected in these reports
generally is not considered confidential.
However, because the information is
collected as part of the Board’s
supervisory process, certain information
may be afforded confidential treatment
pursuant to exemption 8 of FOIA. (5
U.S.C. 552(b)(8)). Individual
respondents may request that certain
data be afforded confidential treatment
pursuant to exemption 4 of FOIA if the
data has not previously been publically
disclosed and the release of the data
would likely cause substantial harm to
the competitive position of the
respondent. (5 U.S.C. 552(b)(4)).
Additionally, individual respondents
may request that personally identifiable
information be afforded confidential
treatment pursuant to exemption 6 of
FOIA if the release of the information
would constitute a clearly unwarranted
invasion of personal privacy. (5 U.S.C.
552(b)(6)). The applicability of FOIA
exemptions 4 and 6 would be
determined on a case-by-case basis.
Proposed revisions: Under the
proposal, revisions would be made to
the FR Y–11, FR 2314, and FR Y–7N
report forms and instructions that are
consistent with certain changes to the
FR Y–9 family of reports (OMB No.
7100–0128) and the Federal Financial
Institutions Examination Council
(FFIEC) Consolidated Reports of
Condition and Income (Call Reports)
(FFIEC 031, 041, and 051; OMB No.
7100–0036).1 Specifically, the proposed
changes would (1) add a new data item
to the balance sheet to separate and
reclassify equity securities with readily
determinable fair values from the
‘‘available for sale’’ category in
accordance with Accounting Standards
update (ASU) No. 2016–01,
‘‘Recognition and Measurement of
Financial Assets and Financial
Liabilities,’’ and (2) add new data items
to the income statement to reflect the
proper reporting of income associated
with these securities. These revisions
would be effective for reports reflecting
the June 30, 2018, report date. The
Board is not proposing any revisions to
the Abbreviated Financial Statements of
U.S. Nonbank Subsidiaries of U.S. Bank
Holding Companies (FR Y–11S), the
Abbreviated Financial Statements of
Foreign Subsidiaries of U.S. Banking
Organizations (FR 2314S), the
Abbreviated Financial Statements of
U.S. Nonbank Subsidiaries Held by
Foreign Banking Organizations (FR Y–
7NS), and the Capital and Asset Report
for Foreign Banking Organizations (FR
Y–7Q).
1 See
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83 Federal Register 939 (January 08, 2018).
Frm 00026
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Board of Governors of the Federal Reserve
System, April 25, 2018.
Ann Misback,
Secretary of the Board.
[FR Doc. 2018–09083 Filed 4–30–18; 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 May 25, 2018.
A. Federal Reserve Bank of Atlanta
(Kathryn Haney, Director of
Applications) 1000 Peachtree Street NE,
Atlanta, Georgia 30309. Comments can
also be sent electronically to
Applications.Comments@atl.frb.org:
1. PBD Holdings, LLC, Chattanooga,
Tennessee; to become a bank holding
company by acquiring outstanding
shares of Millennium Bancshares, Inc.,
Ooltewah, Tennessee, and thereby
acquire shares of Millennium Bank,
Ooltewah, Tennessee and AB&T
Financial Corporation, and thereby
acquire shares of Alliance Bank and
Trust Company, both of Gastonia, North
Carolina.
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]]>Agencies
[Federal Register Volume 83, Number 84 (Tuesday, May 1, 2018)]
[Notices]
[Pages 19062-19064]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-09083]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, with revision,
the Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding
Companies, and the Abbreviated Financial Statements of U.S. Nonbank
Subsidiaries of U.S. Holding Companies (FR Y-11 and FR Y-11S; OMB No.
7100-0244); the Financial Statements of Foreign Subsidiaries of U.S.
Banking Organizations and the Abbreviated Financial Statements of
Foreign Subsidiaries of U.S. Banking Organizations (FR 2314 and FR
2314S; OMB No. 7100-0073); and the Financial Statements of U.S. Nonbank
Subsidiaries Held by Foreign Banking Organizations, Abbreviated
Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign
Banking Organizations, and the Capital and Asset Report of Foreign
Banking Organizations (FR Y-7N, FR Y-7NS, and FR Y-Q; OMB No. 7100-
0125).
DATES: Comments must be submitted on or before July 2, 2018.
ADDRESSES: You may submit comments, identified by FR Y-11, FR 2314, or
FR Y-7N by any of the following methods:
Agency Website: https://www.federalreserve.gov. Follow the
instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
Email: [email protected]. Include OMB
number in the subject line of the message.
FAX: (202) 452-3819 or (202) 452-3102.
Mail: Ann E. Misback, 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 website 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
3515, 1801 K Street (between 18th and 19th Streets NW) Washington, DC
20006 between 9:00 a.m. and 5:00 p.m. on weekdays. For security
reasons, the Board requires that visitors make an appointment to
inspect comments. You may do so by calling (202) 452-3684. Upon
arrival, visitors will be required to present valid government-issued
photo identification and to submit to security screening in order to
inspect and photocopy comments.
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 website 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 Clearance Officer--Nuha Elmaghrabi--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: On June 15, 1984, the Office of Management
and Budget (OMB) delegated to the Board authority under the Paperwork
Reduction Act (PRA) to approve and assign OMB control numbers to
collection of information requests and requirements conducted or
sponsored by the Board. In exercising this delegated authority, the
Board is directed to provide the public with reasonable opportunity to
comment. In determining whether to approve a collection of information,
the Board will consider all comments received from the public and other
agencies.
Request for Comment on Information Collection Proposal
The Board invites public comment on the following information
collection, which is being reviewed under authority delegated by the
OMB under the PRA. Comments are invited on all aspects of the proposal,
including:
a. Whether the proposed collection of information is necessary for
the proper
[[Page 19063]]
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 startup costs and costs of operation,
maintenance, and purchase of services to provide information.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the Federal
Reserve should modify the proposal.
Proposal to approve under OMB delegated authority the extension for
three years, with revision, of the following information collections:
1. Report title: Financial Statements of U.S. Nonbank Subsidiaries
of U.S. Holding Companies and the Abbreviated Financial Statements of
U.S. Nonbank Subsidiaries of U.S. Holding Companies.
Agency form number: FR Y-11 and FR Y-11S.
OMB control number: 7100-0244.
Frequency: Quarterly and annually.
Reporters: Domestic bank holding companies, savings and loan
holding companies, securities holding companies, and intermediate
holding companies (collectively, ``holding companies'').
Estimated annual reporting hours: FR Y-11 (quarterly): 12,539; FR
Y-11 (annual): 1,299; FR Y-11S: 287.
Estimated average hours per response: FR Y-11 (quarterly): 6.8; FR
Y-11 (annual): 6.8; FR Y-11S: 1.
Number of respondents: FR Y-11 (quarterly): 461; FR Y-11 (annual):
191; FR Y-11S: 287.
General Description of Report: The FR Y-11 family of reports
collects financial information for individual U.S. nonbank subsidiaries
of domestic holding companies, which is essential for monitoring the
subsidiaries' potential impact on the condition of the holding company
or its subsidiary banks. Holding companies file the FR Y-11 on a
quarterly or annual basis or the FR Y-11S on an annual basis,
predominantly based on whether the organization meets certain asset
size thresholds.
Legal authorization and confidentiality: The Board has the
authority to require BHCs and any subsidiary thereof, savings and loan
holding companies and any subsidiary thereof, and securities holding
companies and any affiliate thereof to file the FR Y-11 pursuant to,
respectively, section 5(c) of the Bank Holding Company Act (``BHC
Act'') (12 U.S.C. 1844(c)), section 10(b) of the Homeowners' Loan Act
(12 U.S.C. 1467a(b)), and section 618 of the Dodd-Frank Wall Street
Reform and Consumer Protection Act (``Dodd-Frank Act'') (12 U.S.C.
1850a). With respect to FBOs and their subsidiary IHCs, section 5(c) of
the BHC Act, in conjunction with section 8 of the International Banking
Act (12 U.S.C. 3106), authorizes the board to require FBOs and any
subsidiary thereof to file the FR Y-11 reports. These reports are
mandatory.
Information collected in these reports generally is not considered
confidential. However, because the information is collected as part of
the Board's supervisory process, certain information may be afforded
confidential treatment pursuant to exemption 8 of the Freedom of
Information Act (``FOIA''). (5 U.S.C. 552(b)(8)). Individual
respondents may request that certain data be afforded confidential
treatment pursuant to exemption 4 of FOIA if the data has not
previously been publically disclosed and the release of the data would
likely cause substantial harm to the competitive position of the
respondent. (5 U.S.C. 552(b)(4)). Additionally, individual respondents
may request that personally identifiable information be afforded
confidential treatment pursuant to exemption 6 of FOIA if the release
of the information would constitute a clearly unwarranted invasion of
personal privacy. (5 U.S.C. 552(b)(6)). The applicability of FOIA
exemptions 4 and 6 would be determined on a case-by-case basis.
2. Report title: Financial Statements of Foreign Subsidiaries of
U.S. Banking Organizations and the Abbreviated Financial Statements of
Foreign Subsidiaries of U.S. Banking Organizations.
Agency form number: FR 2314 and FR 2314S.
OMB control number: 7100-0073.
Frequency: Quarterly and annually.
Reporters: U.S. state member banks, BHCs, SLHCs, IHCs, and Edge or
agreement corporations.
Estimated annual reporting hours: FR 2314 (quarterly): 12,514; FR
2314 (annual): 1,485; FR 2314S: 297.
Estimated average hours per response: FR 2314 (quarterly): 6.8; FR
2314 (annual): 6.8; FR 2314S: 1.
Number of respondents: FR 2314 (quarterly): 474; FR 2314 (annual):
225; FR 2314S: 297.
General description of report: The FR 2314 family of reports is the
only source of comprehensive and systematic data on the assets,
liabilities, and earnings of the foreign nonbank subsidiaries of U.S.
banking organizations, and the data are used to monitor the growth,
profitability, and activities of these foreign companies. The data help
the Federal Reserve identify present and potential problems of these
companies, monitor their activities in specific countries, and develop
a better understanding of activities within the industry and within
specific institutions. Parent organizations (SMBs, Edge and agreement
corporations, or holding companies) file the FR 2314 on a quarterly or
annual basis, or the FR 2314S on an annual basis, predominantly based
on whether the organization meets certain asset size thresholds.
Legal authorization and confidentiality: The Board has the
authority to require BHCs and any subsidiary thereof, savings and loan
holding companies and any subsidiary thereof, and securities holding
companies and any affiliate thereof to file the FR 2314 pursuant to,
respectively, section 5(c) of the Bank Holding Company Act (``BHC
Act'') (12 U.S.C. 1844(c)), section 10(b) of the Homeowners' Loan Act
(12 U.S.C. 1467a(b)), and section 618 of the Dodd-Frank Wall Street
Reform and Consumer Protection Act (``Dodd-Frank Act'') (12 U.S.C.
1850a). The Board has the authority to require SMBs, agreement
corporations, and Edge corporations to file the FR 2314 pursuant to,
respectively, sections 9(6), 25(7), and 25A(17) of the Federal Reserve
Act (12 U.S.C. 324, 602, and 625). With respect to FBOs and their
subsidiary IHCs, section 5(c) of the BHC Act, in conjunction with
section 8 of the International Banking Act (12 U.S.C. 3106), authorizes
the board to require FBOs and any subsidiary thereof to file the FR
2314 reports. These reports are mandatory.
Information collected in these reports generally is not considered
confidential. However, because the information is collected as part of
the Board's supervisory process, certain information may be afforded
confidential treatment pursuant to exemption 8 of FOIA. (5 U.S.C.
552(b)(8)). Individual respondents may request that certain data be
afforded confidential treatment pursuant to exemption 4 of FOIA if the
data has not previously been publically disclosed and the release of
the data
[[Page 19064]]
would likely cause substantial harm to the competitive position of the
respondent. (5 U.S.C. 552(b)(4)). Additionally, individual respondents
may request that personally identifiable information be afforded
confidential treatment pursuant to exemption 6 of FOIA if the release
of the information would constitute a clearly unwarranted invasion of
personal privacy. (5 U.S.C. 552(b)(6)). The applicability of FOIA
exemptions 4 and 6 would be determined on a case-by-case basis.
3. Report title: The Financial Statements of U.S. Nonbank
Subsidiaries Held by Foreign Banking Organizations, Abbreviated
Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign
Banking Organizations, and the Capital and Asset Report of Foreign
Banking Organizations.
Agency form number: FR Y-7N, FR Y-7NS, and FR Y-7Q.
OMB control number: 7100-0125.
Frequency: Quarterly and annually.
Reporters: Foreign bank organizations (FBOs).
Estimated annual reporting hours: FR Y-7N (quarterly): 1,224; FR Y-
7N (annual): 156; FR Y-7NS: 31; FR Y-7Q (quarterly): 1,632; FR Y-7Q
(annual): 48.
Estimated average hours per response: FR Y-7N (quarterly): 6.8; FR
Y-7N (annual): 6.8; FR Y-7NS: 1; FR Y-7Q (quarterly): 3; FR Y-7Q
(annual): 1.5.
Number of respondents: FR Y-7N (quarterly): 45; FR Y-7N (annual):
23 FR Y-7NS: 31; FR Y-7Q (quarterly): 136; FR Y-7Q (annual): 32.
General Description of Report: The FR Y-7N and the FR Y-7NS are
used 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. FBOs file the FR Y- 7N quarterly or annually or the FR Y-
7NS annually predominantly based on asset size thresholds. The FR Y-7Q
is used to assess consolidated regulatory capital and asset information
from all FBOs. The FR Y-7Q is filed quarterly by FBOs that have
effectively elected to become or be treated as a U.S. financial holding
company (FHC) 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.
Legal authorization and confidentiality: With respect to FBOs and
their subsidiary IHCs, section 5(c) of the BHC Act, in conjunction with
section 8 of the International Banking Act (12 U.S.C. 3106), authorizes
the board to require FBOs and any subsidiary thereof to file the FR Y-
7N reports, and the FR Y-7Q.
Information collected in these reports generally is not considered
confidential. However, because the information is collected as part of
the Board's supervisory process, certain information may be afforded
confidential treatment pursuant to exemption 8 of FOIA. (5 U.S.C.
552(b)(8)). Individual respondents may request that certain data be
afforded confidential treatment pursuant to exemption 4 of FOIA if the
data has not previously been publically disclosed and the release of
the data would likely cause substantial harm to the competitive
position of the respondent. (5 U.S.C. 552(b)(4)). Additionally,
individual respondents may request that personally identifiable
information be afforded confidential treatment pursuant to exemption 6
of FOIA if the release of the information would constitute a clearly
unwarranted invasion of personal privacy. (5 U.S.C. 552(b)(6)). The
applicability of FOIA exemptions 4 and 6 would be determined on a case-
by-case basis.
Proposed revisions: Under the proposal, revisions would be made to
the FR Y-11, FR 2314, and FR Y-7N report forms and instructions that
are consistent with certain changes to the FR Y-9 family of reports
(OMB No. 7100-0128) and the Federal Financial Institutions Examination
Council (FFIEC) Consolidated Reports of Condition and Income (Call
Reports) (FFIEC 031, 041, and 051; OMB No. 7100-0036).\1\ Specifically,
the proposed changes would (1) add a new data item to the balance sheet
to separate and reclassify equity securities with readily determinable
fair values from the ``available for sale'' category in accordance with
Accounting Standards update (ASU) No. 2016-01, ``Recognition and
Measurement of Financial Assets and Financial Liabilities,'' and (2)
add new data items to the income statement to reflect the proper
reporting of income associated with these securities. These revisions
would be effective for reports reflecting the June 30, 2018, report
date. The Board is not proposing any revisions to the Abbreviated
Financial Statements of U.S. Nonbank Subsidiaries of U.S. Bank Holding
Companies (FR Y-11S), the Abbreviated Financial Statements of Foreign
Subsidiaries of U.S. Banking Organizations (FR 2314S), the Abbreviated
Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign
Banking Organizations (FR Y-7NS), and the Capital and Asset Report for
Foreign Banking Organizations (FR Y-7Q).
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\1\ See 83 Federal Register 939 (January 08, 2018).
Board of Governors of the Federal Reserve System, April 25,
2018.
Ann Misback,
Secretary of the Board.
[FR Doc. 2018-09083 Filed 4-30-18; 8:45 am]
BILLING CODE 6210-01-P
