Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 39091-39093 [2018-16916]
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Federal Register / Vol. 83, No. 153 / Wednesday, August 8, 2018 / Notices
reporting requirements and the
reorganization of remaining
requirements, which were not
substantively changed.
Federal Communications Commission.
Marlene H. Dortch,
Secretary, Office of the Secretary.
[FR Doc. 2018–16895 Filed 8–7–18; 8:45 am]
BILLING CODE 6712–01–P
FEDERAL MARITIME COMMISSION
Notice of Agreement Filed
The Commission hereby gives notice
of the filing of the following agreement
under the Shipping Act of 1984.
Interested parties may submit comments
on the agreement to the Secretary by
email at Secretary@fmc.gov, or by mail,
Federal Maritime Commission,
Washington, DC 20573, within twelve
days of the date this notice appears in
the Federal Register. A copy of the
agreement is available through the
Commission’s website (www.fmc.gov) or
by contacting the Office of Agreements
at (202)–523–5793 or tradeanalysis@
fmc.gov.
Agreement No.: 201264.
Agreement Name: Maersk/MSC
Turkey Space Charter Agreement.
Parties: Maersk Line A/S and
Mediterranean Shipping Company S.A.
Filing Party: Wayne Rohde, Cozen
O’Connor.
Synopsis: The Agreement authorizes
Maersk to charter space to MSC in the
trade from Turkey to the U.S. East Coast.
Proposed Effective Date: 9/10/2018.
Location: https://www2.fmc.gov/
FMC.Agreements.Web/Public/
AgreementHistory/15239.
Dated: August 3, 2018.
Rachel Dickon,
Secretary.
[FR Doc. 2018–16981 Filed 8–7–18; 8:45 am]
BILLING CODE 6731–AA–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.
ACTION: Notice.
sradovich on DSK3GMQ082PROD with NOTICES
AGENCY:
The Board of Governors of the
Federal Reserve System (Board) is
adopting a proposal to extend for three
years, with revision, the Financial
Statements of U.S. Nonbank
Subsidiaries of U.S. Holding
SUMMARY:
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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).
The revisions became effective
for reports reflecting the June 30, 2018,
report date.
DATES:
FOR FURTHER INFORMATION CONTACT:
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.
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.
On June
15, 1984, the Office of Management and
Budget (OMB) delegated to the Board
authority under the Paperwork
Reduction Act (PRA) to approve of and
assign OMB control numbers to
collection of information requests and
requirements conducted or sponsored
by the Board. 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 Board 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.
SUPPLEMENTARY INFORMATION:
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39091
Final Approval Under OMB Delegated
Authority of the Extension for Three
Years, With, of the Following Reports:
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 (BHCs), savings and loan
holding companies (SLHCs), securities
holding companies, and intermediate
holding companies (IHCs) (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, SLHCs 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 foreign
banking organizations (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
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39092
Federal Register / Vol. 83, No. 153 / Wednesday, August 8, 2018 / Notices
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 the 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 the 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
(SMBs), 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.
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Legal authorization and
confidentiality: The Board has the
authority to require BHCs and any
subsidiary thereof, SLHCs 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 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 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 the FOIA (5 U.S.C.
552(b)(8)). Individual respondents may
request that certain data be afforded
confidential treatment pursuant to
exemption 4 of the 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 the 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: FBOs.
Estimated annual reporting hours: FR
Y–7N (quarterly): 1,224; FR Y–7N
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Fmt 4703
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(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 the 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
the 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-bycase basis.
Current actions: On May 1, 2018, the
Board published an initial notice in the
Federal Register (83 FR 19062)
requesting public comment for 60 days
E:\FR\FM\08AUN1.SGM
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Federal Register / Vol. 83, No. 153 / Wednesday, August 8, 2018 / Notices
on the extension, with revision, of these
reports. The Board is adopting revisions
to the FR Y–11, FR 2314, and FR Y–7N
report forms and instructions that are
consistent with certain recent changes
to the FR Y–9 family of reports (OMB
No. 7100–0128)1 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).2 Specifically, the changes
(1) add a new data item to the balance
sheet to separate and reclassify equity
securities with readily determinable fair
values not held for trading from the
‘‘available for sale’’ category in
accordance with Financial Accounting
Standards Board’s (FASB) 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
are effective for reports reflecting the
June 30, 2018, report date. The comment
period for this notice expired on July 2,
2018, and the Board did not receive any
comments.
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.
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 of and
assign OMB control numbers to
collection of information requests and
requirements conducted or sponsored
by the Board. 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 Board 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.
Board of Governors of the Federal Reserve
System, August 2, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
Final Approval Under OMB Delegated
Authority of the Extension for Three
Years, Without Revision, of the
Following Report
Report title: Senior Financial Officer
Survey.
Agency form number: FR 2023.
OMB control number: 7100–0223.
Frequency: Up to four times a year.
Respondents: Domestically chartered
large commercial banks.
Estimated number of respondents: 80.
Estimated average hours per response:
3 hours.
Estimated annual burden hours: 960
hours.
General description of report: The
Board uses the surveys in this collection
to gather qualitative and limited
quantitative information about liability
management, the provision of financial
services, and the functioning of key
financial markets. Responses are
obtained from a senior officer at each
participating institution usually through
an electronic submission. Although a
survey may not be collected in a given
year, the Board may conduct up to four
surveys per year when informational
needs arise and cannot be met from
existing data sources. The survey does
not have a fixed set of questions; each
survey consists of a limited number of
questions directed at topics of timely
interest.
Legal authorization and
confidentiality: The FR 2023 is a
[FR Doc. 2018–16916 Filed 8–7–18; 8:45 am]
BILLING CODE 6210–01–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: The Board of Governors of the
Federal Reserve System (Board) is
adopting a proposal to extend for three
years, without revision, the Senior
Financial Officer Survey (FR 2023; OMB
No. 7100–0223).
FOR FURTHER INFORMATION CONTACT:
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.
sradovich on DSK3GMQ082PROD with NOTICES
AGENCY:
1 See
2 See
83 FR 12395 (March 21, 2018).
83 FR 939 (January 08, 2018).
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39093
voluntary survey. Section 2A of the
Federal Reserve Act (FRA) requires that
the Board and the Federal Open Market
Committee (FOMC) maintain long-run
growth of the monetary and credit
aggregates commensurate with the
economy’s long run potential to increase
production, so as to promote effectively
the goals of maximum employment,
stable prices, and moderate long-term
interest rates (12 U.S.C. 225a). In
addition, under section 12A of the FRA,
the FOMC is required to implement
regulations relating to the open market
operations conducted by Federal
Reserve Banks. Those transactions must
be governed with a view to
accommodating commerce and business
and with regard to their bearing upon
the general credit situation of the
country (12 U.S.C. 263). The Board and
the FOMC use the information obtained
from the FR 2023 to help fulfill these
obligations.
The questions asked on each survey
will vary, so the ability of the Board to
maintain the confidentiality of
information collected must be
determined on a case by case basis. It is
likely that much of the information
collected would constitute confidential
financial information obtained from a
person and would thus be protected
from disclosure under exemption 4 to
the Freedom of Information Act (FOIA)
(5 U.S.C. 552(b)(4)). Exemption 8 of the
FOIA, which protects information
related to examination, operating, or
condition reports prepared for the use of
an agency supervising financial
institutions, may also occasionally
apply (5 U.S.C. 552(b)(8)).
Current actions: On May 15, 2018, the
Board published a notice in the Federal
Register (83 FR 22488) requesting
public comment for 60 days on the
extension, without revision, of the
Board’s clearance for the Senior
Financial Officer Survey. The comment
period for this notice expired on July 16,
2018. The Board did not receive any
comments.
Board of Governors of the Federal Reserve
System, August, 2, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018–16918 Filed 8–7–18; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Proposed Agency Information
Collection Activities; Comment
Request
Board of Governors of the
Federal Reserve System.
AGENCY:
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Agencies
[Federal Register Volume 83, Number 153 (Wednesday, August 8, 2018)]
[Notices]
[Pages 39091-39093]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-16916]
=======================================================================
-----------------------------------------------------------------------
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.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
is adopting 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: The revisions became effective for reports reflecting the June
30, 2018, report date.
FOR FURTHER INFORMATION CONTACT: 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.
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.
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 of and assign OMB control numbers to
collection of information requests and requirements conducted or
sponsored by the Board. 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 Board 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.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, With, of the Following Reports:
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 (BHCs), savings and loan
holding companies (SLHCs), securities holding companies, and
intermediate holding companies (IHCs) (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, SLHCs 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 foreign banking
organizations (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
[[Page 39092]]
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 the 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 the 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 (SMBs), 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, SLHCs 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 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 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 the FOIA (5 U.S.C. 552(b)(8)). Individual
respondents may request that certain data be afforded confidential
treatment pursuant to exemption 4 of the 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 the 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: 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 the 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 the 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.
Current actions: On May 1, 2018, the Board published an initial
notice in the Federal Register (83 FR 19062) requesting public comment
for 60 days
[[Page 39093]]
on the extension, with revision, of these reports. The Board is
adopting revisions to the FR Y-11, FR 2314, and FR Y-7N report forms
and instructions that are consistent with certain recent changes to the
FR Y-9 family of reports (OMB No. 7100-0128)\1\ 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).\2\ Specifically, the changes (1) add a new data item to
the balance sheet to separate and reclassify equity securities with
readily determinable fair values not held for trading from the
``available for sale'' category in accordance with Financial Accounting
Standards Board's (FASB) 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 are effective for reports reflecting the
June 30, 2018, report date. The comment period for this notice expired
on July 2, 2018, and the Board did not receive any comments.
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\1\ See 83 FR 12395 (March 21, 2018).
\2\ See 83 FR 939 (January 08, 2018).
Board of Governors of the Federal Reserve System, August 2,
2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-16916 Filed 8-7-18; 8:45 am]
BILLING CODE 6210-01-P