Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 47513-47514 [2019-19519]

Download as PDF Federal Register / Vol. 84, No. 175 / Tuesday, September 10, 2019 / Notices including whether the information has practical utility; b. The accuracy of the Board’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 Board should modify the proposal. khammond on DSKBBV9HB2PROD with NOTICES Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: Transfer Agent Registration and Amendment Form. Agency form number: Form TA–1. OMB control number: 7100–0099. Frequency: On occasion. Respondents: State member banks (SMBs) and their subsidiaries, bank holding companies (BHCs), savings and loan holding companies (SLHCs), and certain nondeposit trust companies and other subsidiaries of BHCs that act as transfer agents. Estimated number of respondents: Registrations, 1; amendments, 2; deregistrations, 1. Estimated average time per response: Registrations, 1.25 hours; amendments, 10 minutes (0.16 hours); de-registrations 30 minutes (0.5 hours). Estimated annual burden hours: Registrations, 1.25 hours; amendments, 0.33 hours; de-registrations, 0.5 hours. General description of report: The Securities Exchange Act of 1934 requires any person acting as a transfer agent 1 to register as such with the appropriate regulatory agency (ARA). The Board is the ARA for SMBs and their subsidiaries, BHCs, SLHCs, and certain other subsidiaries of BHCs.2 1 Transfer agents are institutions that provide securities transfer, registration, monitoring, and other specified services on behalf of securities issuers. See 15 U.S.C. 78c(25) (defining ‘‘transfer agent’’). 2 Specifically, the Board is the ARA for any subsidiary of a bank holding company that is a bank within the meaning of the Securities Exchange Act of 1934 and that is not required to register with the Office of the Comptroller of the Currency (OCC) or Federal Deposit Insurance Corporation (FDIC). VerDate Sep<11>2014 16:56 Sep 09, 2019 Jkt 247001 Transfer agents for which the Board is the ARA must register with the Board using Form TA–1. Legal authorization and confidentiality: Section 17A(c) of the Securities Exchange Act of 1934 3 (Exchange Act) requires all transfer agents for securities registered under section 12 of the Act to register ‘‘by filing with the appropriate regulatory agency . . . an application for registration in such form and containing such information and documents . . . as such appropriate regulatory agency may prescribe as necessary or appropriate in furtherance of the purposes of this section.’’ 4 Under section 3(a)(34)(B)(ii) of the Exchange Act,5 the Board is the appropriate regulatory agency with respect to any transfer agent that is a state member bank or a subsidiary thereof, a BHC or a covered subsidiary thereof, or a SLHC (together, ‘‘BoardRegistered Transfer Agents’’). In addition, the FR TA–1 is authorized pursuant to sections 2, 17(a)(3), and 23(a) of the Exchange Act,6 which, among other things, authorize the Board to promulgate regulations and establish recordkeeping and reporting requirements with respect to BoardRegistered Transfer Agents. Additionally, the Board also has broad authority to require reports from BHCs, SLHCs, and SMBs.7 The FR TA–1 is mandatory. The information collected in the FR TA–1 is available to the public upon request and is not considered confidential. Consultation outside the agency: The Securities Exchange Commission, the Board, the FDIC, and the OCC jointly developed the reporting form and instructions, and the Board has consulted with the FDIC and OCC and determined that no revisions to the form are necessary at this time. Board of Governors of the Federal Reserve System, September 4, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–19447 Filed 9–9–19; 8:45 am] BILLING CODE 6210–01–P 3 15 U.S.C. 78q–1(c). 15 U.S.C. 78q–1(c)(1). 5 15 U.S.C. 78c(a)(34)(B)(ii). 6 15 U.S.C. 78b, 78q(a)(3), and 78w(a). 7 12 U.S.C. 1844(c), 12 U.S.C. 1467a(b) and (g), and 12 U.S.C. 248(a) and 324. 4 See PO 00000 Frm 00040 Fmt 4703 Sfmt 4703 47513 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, with revision, the Federal Reserve Bank Stock Applications and the Federal Reserve Membership Application (FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, FR 2087, FR 2083, FR 2083A, FR 2083B, and FR 2083C; OMB Nos. 7100–0042 and 7100– 0046). The revisions are applicable immediately. 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. Office of Management and Budget (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. A copy of the PRA OMB submission, including the reporting form and instructions, supporting statement, and other documentation will be placed into OMB’s public docket files. These documents also are 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 above. SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve and assign OMB control numbers to collections of information conducted or sponsored by the Board. Boardapproved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the PRA Submission, supporting statements, and approved collection of information instrument(s) are placed into OMB’s public docket files. AGENCY: Final Approval Under OMB Delegated Authority of the Extension for Three Years, With Revision, of the Following Information Collections Report title: Federal Reserve Bank Stock Applications. E:\FR\FM\10SEN1.SGM 10SEN1 khammond on DSKBBV9HB2PROD with NOTICES 47514 Federal Register / Vol. 84, No. 175 / Tuesday, September 10, 2019 / Notices Agency form numbers: FR 2030, FR 2303a, FR 2056, FR 2086, FR 2086a, FR 2087. OMB control number: 7100–0042. Effective Date: Immediately. Frequency: On occasion. Respondents: New national banks, non-member state banks converting into national banks, member banks, and member banks converting into or merging into member or nonmember banks. Estimated number of respondents: FR 2030, 4; FR 2030a, 7; FR 2056, 1,068; FR 2086, 10; FR 2086a, 86; FR 2087, 1. Estimated average hours per response: Estimated annual burden hours: FR 2030, 2; FR 2030a, 3.5; FR 2056, 534; FR 2086, 5; FR 2086a, 43; FR 2087, 0.5. General description of report: Any national bank wanting to purchase stock in the Federal Reserve System, any member bank wanting to increase or decrease its Federal Reserve Bank stock holdings, or any bank wanting to cancel its stock holdings must file an application with the appropriate Federal Reserve Bank. The application forms for the initial subscription of Federal Reserve Bank stock filed by organizing national banks and nonmember state banks converting to national banks (FR 2030 and 2030a, respectively) and the application forms for the cancellation of Federal Reserve Bank stock filed by liquidating member banks, member banks merging or consolidating with nonmember banks, and insolvent member banks (FR 2086, FR 2086a, and FR 2087, respectively) require one or more of the following: A resolution by the applying bank’s board of directors authorizing the transaction, an indication of the capital and surplus of the bank as of the date of application, a certification (by official signatures) of the resolution, and/or an indication of the number of shares and dollar amount of the Federal Reserve Bank stock to be purchased or cancelled. The application form for an interim adjustment in a member bank’s holdings of Federal Reserve Bank stock (FR 2056) requires an indication of the capital and surplus of the bank as of the date of application and an indication of the number of shares held and the number of shares to be acquired or canceled. A completed application form must be submitted for each required adjustment. Any member bank must use the FR 2056 to correct a discrepancy between the amount of Federal Reserve Bank stock required to be held and the amount actually held by the member bank. The latter is determined by the Reserve Bank through its monitoring of the bank’s capital accounts reported quarterly on the Consolidated Reports of VerDate Sep<11>2014 16:56 Sep 09, 2019 Jkt 247001 Condition and Income (Call Report) (FFIEC 031, FFIEC 041, and FFIEC 051; OMB No. 7100–0036). The Federal Reserve Bank Stock Applications are distributed by the Federal Reserve Banks and the information collected enables them to account for required subscription, adjustment, or cancellation payments to and from the System and for dividends paid by the System on any outstanding stock. Report title: Federal Reserve Membership Application. Agency form numbers: FR 2083/A/B/C. OMB control number: 7100–0046. Effective Date: Immediately. Frequency: On occasion. Respondents: Banks seeking to become state member banks, existing banks or savings institutions seeking to convert to state member bank status, national banks wanting to purchase stock in the Federal Reserve System, and member banks wanting to increase, decrease, or cancel their Federal Reserve Bank stock holdings. Estimated number of respondents: 16. Estimated average hours per response: 4. Estimated annual burden hours: 64. General description of report: The four individual application forms in the FR 2083 series (membership application and relevant attachments) are all onetime submissions that are used by organizing (new) or existing statechartered banks to apply for membership in the Federal Reserve System. The FR 2083 contains a cover sheet, with general information and instructions detailing the information to be submitted according to the type of applicant bank. The FR 2083A is the application form for the purchase of Federal Reserve Bank stock by state banks (except mutual savings banks) and by national banks converting into state member banks. The FR 2083B is the application form for the purchase of Federal Reserve Bank stock by mutual savings banks. The FR 2083C is the Certificate of Organizers or Directors certifying that the information being submitted is true and complete, and the proposed capital is not impaired. Legal authorization and confidentiality: The Federal Reserve Membership Application is authorized by section 9 of the Federal Reserve Act (FRA) (12 U.S.C. 321, 322, 323, 329, and 333). The Federal Reserve Bank Stock Applications are authorized pursuant to sections 9 (12 U.S.C. 321) and 11(a) of the FRA (12 U.S.C. 248(a)). Additionally, the FR 2030 and FR 2030a are specifically authorized by section 2 of the FRA (12 U.S.C. 222 and 282); the FR 2056, FR 2086, and FR 2086a are PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 authorized by section 5 of the FRA (12 U.S.C. 287); and the FR 2087 is authorized by section 6 of the FRA (12 U.S.C. 288). Current actions: On June 6, 2019, the Board published a notice in the Federal Register (84 FR 26415) requesting public comment for 60 days on the extension, with revision, of the Federal Reserve Membership Application and the Federal Reserve Bank Stock Applications. The revisions to these collections include: (1) Require the bank to include their American Bankers Association (ABA) number on page one (FR 2030, FR 2030A, FR 2056, FR 2083A, and FR 2083B); (2) include the Chief Financial Officer (CFO) as an authorized signer (FR 2030, FR 2030A, FR 2056, FR 2083A, FR 2083B, FR 2086, and FR 2086A); (3) remove the SEAL and/or notarization requirement to allow for electronic retention of documentation (FR 2030, FR 2030A, FR 2056, FR 2083A, FR 2083B, and FR 2087); (4) include a note requiring that the signer of the form be included on the bank’s Official Authorization List that is on file with the Federal Reserve (FR 2030, 2030A, FR 2056, 2083A, FR 2083B, and FR 2086A); (5) collect an additional data point ‘‘Less: Retained earnings and accumulated other comprehensive income if such combined amount is negative’’ on page one (FR 2030, FR 2030a, similar to the FR 2056); (6) on page one of FR 2056: (a) Place a box around the area where member banks enter their Common stock, Paid-in surplus and NRE figures (if applicable) and place a bolded ‘‘Member banks’’ identifier at top left, (b) place member bank and mutual savings bank calculations separated from each other in order to alleviate each type of institution from using both areas, and (c) insert the statement to, ‘‘round up only’’ to footnote 3. The comment period for this notice expired on August 5, 2019. The Board did not receive any comments. The revisions will be implemented as proposed. Board of Governors of the Federal Reserve System, September 5, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–19519 Filed 9–9–19; 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: E:\FR\FM\10SEN1.SGM 10SEN1

Agencies

[Federal Register Volume 84, Number 175 (Tuesday, September 10, 2019)]
[Notices]
[Pages 47513-47514]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19519]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, with revision, the 
Federal Reserve Bank Stock Applications and the Federal Reserve 
Membership Application (FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, 
FR 2087, FR 2083, FR 2083A, FR 2083B, and FR 2083C; OMB Nos. 7100-0042 
and 7100-0046). The revisions are applicable immediately.

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.
    Office of Management and Budget (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.
    A copy of the PRA OMB submission, including the reporting form and 
instructions, supporting statement, and other documentation will be 
placed into OMB's public docket files. These documents also are 
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 above.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the Paperwork Reduction Act (PRA) to approve and assign 
OMB control numbers to collections of information 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 PRA Submission, supporting 
statements, and approved collection of information instrument(s) are 
placed into OMB's public docket files.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, With Revision, of the Following Information Collections

    Report title: Federal Reserve Bank Stock Applications.

[[Page 47514]]

    Agency form numbers: FR 2030, FR 2303a, FR 2056, FR 2086, FR 2086a, 
FR 2087.
    OMB control number: 7100-0042.
    Effective Date: Immediately.
    Frequency: On occasion.
    Respondents: New national banks, non-member state banks converting 
into national banks, member banks, and member banks converting into or 
merging into member or nonmember banks.
    Estimated number of respondents: FR 2030, 4; FR 2030a, 7; FR 2056, 
1,068; FR 2086, 10; FR 2086a, 86; FR 2087, 1.
    Estimated average hours per response:
    Estimated annual burden hours: FR 2030, 2; FR 2030a, 3.5; FR 2056, 
534; FR 2086, 5; FR 2086a, 43; FR 2087, 0.5.
    General description of report: Any national bank wanting to 
purchase stock in the Federal Reserve System, any member bank wanting 
to increase or decrease its Federal Reserve Bank stock holdings, or any 
bank wanting to cancel its stock holdings must file an application with 
the appropriate Federal Reserve Bank. The application forms for the 
initial subscription of Federal Reserve Bank stock filed by organizing 
national banks and nonmember state banks converting to national banks 
(FR 2030 and 2030a, respectively) and the application forms for the 
cancellation of Federal Reserve Bank stock filed by liquidating member 
banks, member banks merging or consolidating with nonmember banks, and 
insolvent member banks (FR 2086, FR 2086a, and FR 2087, respectively) 
require one or more of the following: A resolution by the applying 
bank's board of directors authorizing the transaction, an indication of 
the capital and surplus of the bank as of the date of application, a 
certification (by official signatures) of the resolution, and/or an 
indication of the number of shares and dollar amount of the Federal 
Reserve Bank stock to be purchased or cancelled.
    The application form for an interim adjustment in a member bank's 
holdings of Federal Reserve Bank stock (FR 2056) requires an indication 
of the capital and surplus of the bank as of the date of application 
and an indication of the number of shares held and the number of shares 
to be acquired or canceled.
    A completed application form must be submitted for each required 
adjustment. Any member bank must use the FR 2056 to correct a 
discrepancy between the amount of Federal Reserve Bank stock required 
to be held and the amount actually held by the member bank. The latter 
is determined by the Reserve Bank through its monitoring of the bank's 
capital accounts reported quarterly on the Consolidated Reports of 
Condition and Income (Call Report) (FFIEC 031, FFIEC 041, and FFIEC 
051; OMB No. 7100-0036). The Federal Reserve Bank Stock Applications 
are distributed by the Federal Reserve Banks and the information 
collected enables them to account for required subscription, 
adjustment, or cancellation payments to and from the System and for 
dividends paid by the System on any outstanding stock.
    Report title: Federal Reserve Membership Application.
    Agency form numbers: FR 2083/A/B/C.
    OMB control number: 7100-0046.
    Effective Date: Immediately.
    Frequency: On occasion.
    Respondents: Banks seeking to become state member banks, existing 
banks or savings institutions seeking to convert to state member bank 
status, national banks wanting to purchase stock in the Federal Reserve 
System, and member banks wanting to increase, decrease, or cancel their 
Federal Reserve Bank stock holdings.
    Estimated number of respondents: 16.
    Estimated average hours per response: 4.
    Estimated annual burden hours: 64.
    General description of report: The four individual application 
forms in the FR 2083 series (membership application and relevant 
attachments) are all one-time submissions that are used by organizing 
(new) or existing state-chartered banks to apply for membership in the 
Federal Reserve System. The FR 2083 contains a cover sheet, with 
general information and instructions detailing the information to be 
submitted according to the type of applicant bank. The FR 2083A is the 
application form for the purchase of Federal Reserve Bank stock by 
state banks (except mutual savings banks) and by national banks 
converting into state member banks. The FR 2083B is the application 
form for the purchase of Federal Reserve Bank stock by mutual savings 
banks. The FR 2083C is the Certificate of Organizers or Directors 
certifying that the information being submitted is true and complete, 
and the proposed capital is not impaired.
    Legal authorization and confidentiality: The Federal Reserve 
Membership Application is authorized by section 9 of the Federal 
Reserve Act (FRA) (12 U.S.C. 321, 322, 323, 329, and 333). The Federal 
Reserve Bank Stock Applications are authorized pursuant to sections 9 
(12 U.S.C. 321) and 11(a) of the FRA (12 U.S.C. 248(a)). Additionally, 
the FR 2030 and FR 2030a are specifically authorized by section 2 of 
the FRA (12 U.S.C. 222 and 282); the FR 2056, FR 2086, and FR 2086a are 
authorized by section 5 of the FRA (12 U.S.C. 287); and the FR 2087 is 
authorized by section 6 of the FRA (12 U.S.C. 288).
    Current actions: On June 6, 2019, the Board published a notice in 
the Federal Register (84 FR 26415) requesting public comment for 60 
days on the extension, with revision, of the Federal Reserve Membership 
Application and the Federal Reserve Bank Stock Applications. The 
revisions to these collections include: (1) Require the bank to include 
their American Bankers Association (ABA) number on page one (FR 2030, 
FR 2030A, FR 2056, FR 2083A, and FR 2083B); (2) include the Chief 
Financial Officer (CFO) as an authorized signer (FR 2030, FR 2030A, FR 
2056, FR 2083A, FR 2083B, FR 2086, and FR 2086A); (3) remove the SEAL 
and/or notarization requirement to allow for electronic retention of 
documentation (FR 2030, FR 2030A, FR 2056, FR 2083A, FR 2083B, and FR 
2087); (4) include a note requiring that the signer of the form be 
included on the bank's Official Authorization List that is on file with 
the Federal Reserve (FR 2030, 2030A, FR 2056, 2083A, FR 2083B, and FR 
2086A); (5) collect an additional data point ``Less: Retained earnings 
and accumulated other comprehensive income if such combined amount is 
negative'' on page one (FR 2030, FR 2030a, similar to the FR 2056); (6) 
on page one of FR 2056: (a) Place a box around the area where member 
banks enter their Common stock, Paid-in surplus and NRE figures (if 
applicable) and place a bolded ``Member banks'' identifier at top left, 
(b) place member bank and mutual savings bank calculations separated 
from each other in order to alleviate each type of institution from 
using both areas, and (c) insert the statement to, ``round up only'' to 
footnote 3. The comment period for this notice expired on August 5, 
2019. The Board did not receive any comments. The revisions will be 
implemented as proposed.

    Board of Governors of the Federal Reserve System, September 5, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-19519 Filed 9-9-19; 8:45 am]
BILLING CODE 6210-01-P