Proposed Agency Information Collection Activities; Comment Request, 23968-23969 [2021-09426]
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23968
Federal Register / Vol. 86, No. 85 / Wednesday, May 5, 2021 / Notices
recommending a January 2022 effective
date. The Board agreed and clarified
that the changes will become effective
with the first applicable as of date,
January 5, 2022. One commenter
recommended that the FR 2004 report
instructions and FAQs be updated to
reflect the proposed changes. The
revised report forms, instructions, and
FAQ document will be made available
in final form on the Board’s public
website. Aside from the changes
discussed above, the Board will adopt
the extension, with revision, of the FR
2004 as originally proposed.
Board of Governors of the Federal Reserve
System, April 29, 2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021–09459 Filed 5–4–21; 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.
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
International Applications and Prior
Notifications under Subparts A and C of
Regulation K (FR K–1; OMB No. 7100–
0107).
DATES: Comments must be submitted on
or before July 6, 2021.
ADDRESSES: You may submit comments,
identified by FR K–1, 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 the 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 or to
remove personally identifiable
information at the commenter’s request.
SUMMARY:
VerDate Sep<11>2014
23:06 May 04, 2021
Jkt 253001
Accordingly, comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper in Room 146, 1709 New York
Avenue 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 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.
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.
SUPPLEMENTARY INFORMATION: On June
15, 1984, OMB delegated to the Board
authority under the PRA to approve and
assign OMB control numbers to
collections of information conducted or
sponsored by the Board. In exercising
this delegated authority, the Board is
directed to take every reasonable step to
solicit comment. In determining
whether to approve a collection of
information, the Board will consider all
comments received from the public and
other agencies.
A copy of the Paperwork Reduction
Act (PRA) OMB submission, including
the reporting form and instructions,
supporting statement, and other
documentation will be available at
https://www.reginfo.gov/public/do/
PRAMain, if approved. These
documents will also be made available
on the 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.
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 the
following:
a. Whether the proposed collection of
information is necessary for the proper
PO 00000
Frm 00055
Fmt 4703
Sfmt 4703
performance of the Board’s functions,
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.
Proposal Under OMB Delegated
Authority To Extend for Three Years,
With Revision, the Following
Information Collection
Report title: International
Applications and Prior Notifications
under Subparts A and C of Regulation
K.
Agency form number: FR K–1.
OMB control number: 7100–0107.
Frequency: On occasion.
Respondents: Member banks, Edge
and agreement corporations,1 bank
holding companies (BHCs), and certain
investments by foreign organizations.
Estimated number of respondents:
Reporting: Attachments A and B, 6;
Attachments C through G, 13;
Attachments H and I, 10; Attachment J,
2; Attachment K, 1; Section 211.5(c)(4)
requirements, 1; Section 211.8
requirements, 1; Section 211.10
requirements, 1; Section 211.11
requirements, 1. Disclosure: Attachment
F, 13. Recordkeeping: Section 211.13
requirement, 70.
Estimated average hours per response:
Reporting: Attachments A and B, 11.5;
Attachments C through G, 9;
Attachments H and I, 15.5; Attachment
J, 10; Attachment K, 20; Section
211.5(c)(4) requirements, 1; Section
211.8 requirements, 0.25; Section 211.10
requirements, 8; Section 211.11
requirements, 5. Disclosure: Attachment
F, 1. Recordkeeping: Section 211.13
requirement, 1.
1 References to Edge corporations are inclusive of
agreement corporations. An agreement corporation
is a corporation that has entered into an agreement
with the Board that it will not exercise any power
that is impermissible for an Edge corporation. 12
CFR 211.5(g)(1).
E:\FR\FM\05MYN1.SGM
05MYN1
Federal Register / Vol. 86, No. 85 / Wednesday, May 5, 2021 / Notices
Estimated annual burden hours:
Reporting: Attachments A and B, 138;
Attachments C through G, 234;
Attachments H and I, 465; Attachment
J, 20; Attachment K, 20; Section
211.5(c)(4) requirements, 1; Section
211.8 requirements, 0; Section 211.10
requirements, 8; Section 211.11
requirements, 5. Disclosure: Attachment
F, 26. Recordkeeping: Section 211.13
requirement, 70.
General description of report: Subpart
A of Regulation K—International
Banking Operations, governs the foreign
investments and activities of member
banks, Edge and agreement
corporations, BHCs, and certain
investments by foreign organizations.
Subpart C of Regulation K governs
investments in export trading
companies by eligible investors.2 The
FR K–1 information collection contains
eleven attachments for the application
and notification requirements in
Subparts A and C of Regulation K. The
Board requires these applications for
regulatory and supervisory purposes
and to allow the Board to fulfill its
statutory obligations under the Federal
Reserve Act (FRA) and the Bank
Holding Company Act of 1956 (BHC
Act). The applications are eventgenerated and provide the Federal
Reserve with information necessary to
evaluate each of the proposed
transactions.
Proposed revisions: The Board
proposes to revise the FR K–1
information collection to account for
several reporting and recordkeeping
provisions in sections 211.5, 211.8,
211.10, 211.11, and 211.13 of Regulation
K that have not been previously cleared
by the Board under the PRA. The Board
is not proposing to create additional
attachments to the FR K–1 to address
these provisions.
Legal authorization and
confidentiality: The Board is authorized
to collect the information required on
the FR K–1 under sections 25 and 25A
of the FRA,3 and sections 4(c)(13),
4(c)(14), and 5(c) of the BHC Act.4
Section 25 of the FRA authorizes the
Board to approve applications to
establish agreement corporations,
establish foreign branches, and invest in
foreign banks in accordance with
regulations prescribed by the Board.
Section 25 also authorizes the Board to
require reports concerning the condition
of these entities. Section 25A of the FRA
2 Eligible investors are BHCs, Edge and agreement
corporations that are subsidiaries of bank holding
companies but are not subsidiaries of banks,
banker’s banks, and foreign banking organizations.
12 CFR 211.32(d).
3 12 U.S.C. 601–604(a) and 611–631.
4 12 U.S.C. 1843(c)(13), 1843(c)(14), and 1844(c).
VerDate Sep<11>2014
23:06 May 04, 2021
Jkt 253001
authorizes the Board to approve the
establishment of Edge corporations, to
issue rules and regulations relating to
these entities, and to require reports
from these entities. Section 4(c)(13) of
the BHC Act authorizes the Board, by
regulation or order, to determine that
BHCs may invest in companies that do
business abroad. Section 4(c)(14) of the
BHC Act authorizes BHCs to invest in
export trading companies, subject to a
notice requirement and disapproval by
the Board. Section 5(c) of the BHC Act
grants the Board reporting and
examination authorities.
The applications and notifications
comprising FR K–1 are required to
obtain a benefit. Individual respondents
may request that information submitted
to the Board through the FR K–1 be kept
confidential. If a respondent requests
confidential treatment, the Board will
determine whether the information is
entitled to confidential treatment on a
case-by-case basis. To the extent a
respondent submits nonpublic
commercial or financial information,
which is both customarily and actually
treated as private by the respondent, the
respondent may request confidential
treatment pursuant to exemption 4 of
the Freedom of Information Act
(FOIA).5 To the extent a respondent
submits personal, medical, or similar
files, the disclosure of which would
constitute an unwarranted invasion of
privacy, the respondent may request
confidential treatment pursuant to
exemption 6 of the FOIA.6 To the extent
that the Board obtains information as
part of the examination process, the
information may be confidential
pursuant to exemption 8 of the FOIA.7
Board of Governors of the Federal Reserve
System, April 29, 2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021–09426 Filed 5–4–21; 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 Survey of
AGENCY:
55
U.S.C. 552(b)(4).
U.S.C. 552(b)(6).
7 5 U.S.C. 552(b)(8).
65
PO 00000
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Fmt 4703
Sfmt 4703
23969
Consumer Finances (FR 3059; OMB
7100–0287).
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.
SUPPLEMENTARY INFORMATION: On June
15, 1984, OMB delegated to the Board
authority under the 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. The OMB
inventory, as well as copies of the PRA
Submission, supporting statements, and
approved collection of information
instrument(s) are available at https://
www.reginfo.gov/public/do/PRAMain.
These documents are also available on
the Federal Reserve Board’s public
website at https://www.federal
reserve.gov/apps/reportforms/
review.aspx or may be requested from
the agency clearance officer, whose
name appears above.
Final Approval Under OMB Delegated
Authority of the Extension for Three
Years, Without Revision, of the
Following Information Collection
Report title: Survey of Consumer
Finances (SCF).
Agency form number: FR 3059.
OMB control number: 7100–0287.
Frequency: Triennial.
Respondents: U.S. families.
Estimated number of respondents:
Pretest, 150; Main survey, 7,000.
Estimated average hours per response:
Pretest, 100 minutes; Main survey, 100
minutes.
Estimated annual burden hours:
Pretest, 250 hours; Main survey, 11,667
hours.
General description of report: This
triennial survey is the only source of
representative information on the
structure of U.S. families’ finances. The
survey would collect data on the assets,
debts, income, work history, pension
rights, use of financial services, and
attitudes of a sample of U.S. families.
Because the ownership of some assets is
relatively concentrated in a small
E:\FR\FM\05MYN1.SGM
05MYN1
Agencies
[Federal Register Volume 86, Number 85 (Wednesday, May 5, 2021)]
[Notices]
[Pages 23968-23969]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-09426]
-----------------------------------------------------------------------
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 International Applications and Prior Notifications under Subparts A
and C of Regulation K (FR K-1; OMB No. 7100-0107).
DATES: Comments must be submitted on or before July 6, 2021.
ADDRESSES: You may submit comments, identified by FR K-1, 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 the 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 or to remove
personally identifiable information at the commenter's request.
Accordingly, comments will not be edited to remove any identifying or
contact information. Public comments may also be viewed electronically
or in paper in Room 146, 1709 New York Avenue 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
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.
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.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board
authority under the PRA to approve and assign OMB control numbers to
collections of information conducted or sponsored by the Board. In
exercising this delegated authority, the Board is directed to take
every reasonable step to solicit comment. In determining whether to
approve a collection of information, the Board will consider all
comments received from the public and other agencies.
A copy of the Paperwork Reduction Act (PRA) OMB submission,
including the reporting form and instructions, supporting statement,
and other documentation will be available at https://www.reginfo.gov/public/do/PRAMain, if approved. These documents will also be made
available on the 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.
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 the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Board's functions, 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.
Proposal Under OMB Delegated Authority To Extend for Three Years, With
Revision, the Following Information Collection
Report title: International Applications and Prior Notifications
under Subparts A and C of Regulation K.
Agency form number: FR K-1.
OMB control number: 7100-0107.
Frequency: On occasion.
Respondents: Member banks, Edge and agreement corporations,\1\ bank
holding companies (BHCs), and certain investments by foreign
organizations.
---------------------------------------------------------------------------
\1\ References to Edge corporations are inclusive of agreement
corporations. An agreement corporation is a corporation that has
entered into an agreement with the Board that it will not exercise
any power that is impermissible for an Edge corporation. 12 CFR
211.5(g)(1).
---------------------------------------------------------------------------
Estimated number of respondents: Reporting: Attachments A and B, 6;
Attachments C through G, 13; Attachments H and I, 10; Attachment J, 2;
Attachment K, 1; Section 211.5(c)(4) requirements, 1; Section 211.8
requirements, 1; Section 211.10 requirements, 1; Section 211.11
requirements, 1. Disclosure: Attachment F, 13. Recordkeeping: Section
211.13 requirement, 70.
Estimated average hours per response: Reporting: Attachments A and
B, 11.5; Attachments C through G, 9; Attachments H and I, 15.5;
Attachment J, 10; Attachment K, 20; Section 211.5(c)(4) requirements,
1; Section 211.8 requirements, 0.25; Section 211.10 requirements, 8;
Section 211.11 requirements, 5. Disclosure: Attachment F, 1.
Recordkeeping: Section 211.13 requirement, 1.
[[Page 23969]]
Estimated annual burden hours: Reporting: Attachments A and B, 138;
Attachments C through G, 234; Attachments H and I, 465; Attachment J,
20; Attachment K, 20; Section 211.5(c)(4) requirements, 1; Section
211.8 requirements, 0; Section 211.10 requirements, 8; Section 211.11
requirements, 5. Disclosure: Attachment F, 26. Recordkeeping: Section
211.13 requirement, 70.
General description of report: Subpart A of Regulation K--
International Banking Operations, governs the foreign investments and
activities of member banks, Edge and agreement corporations, BHCs, and
certain investments by foreign organizations. Subpart C of Regulation K
governs investments in export trading companies by eligible
investors.\2\ The FR K-1 information collection contains eleven
attachments for the application and notification requirements in
Subparts A and C of Regulation K. The Board requires these applications
for regulatory and supervisory purposes and to allow the Board to
fulfill its statutory obligations under the Federal Reserve Act (FRA)
and the Bank Holding Company Act of 1956 (BHC Act). The applications
are event-generated and provide the Federal Reserve with information
necessary to evaluate each of the proposed transactions.
---------------------------------------------------------------------------
\2\ Eligible investors are BHCs, Edge and agreement corporations
that are subsidiaries of bank holding companies but are not
subsidiaries of banks, banker's banks, and foreign banking
organizations. 12 CFR 211.32(d).
---------------------------------------------------------------------------
Proposed revisions: The Board proposes to revise the FR K-1
information collection to account for several reporting and
recordkeeping provisions in sections 211.5, 211.8, 211.10, 211.11, and
211.13 of Regulation K that have not been previously cleared by the
Board under the PRA. The Board is not proposing to create additional
attachments to the FR K-1 to address these provisions.
Legal authorization and confidentiality: The Board is authorized to
collect the information required on the FR K-1 under sections 25 and
25A of the FRA,\3\ and sections 4(c)(13), 4(c)(14), and 5(c) of the BHC
Act.\4\ Section 25 of the FRA authorizes the Board to approve
applications to establish agreement corporations, establish foreign
branches, and invest in foreign banks in accordance with regulations
prescribed by the Board. Section 25 also authorizes the Board to
require reports concerning the condition of these entities. Section 25A
of the FRA authorizes the Board to approve the establishment of Edge
corporations, to issue rules and regulations relating to these
entities, and to require reports from these entities. Section 4(c)(13)
of the BHC Act authorizes the Board, by regulation or order, to
determine that BHCs may invest in companies that do business abroad.
Section 4(c)(14) of the BHC Act authorizes BHCs to invest in export
trading companies, subject to a notice requirement and disapproval by
the Board. Section 5(c) of the BHC Act grants the Board reporting and
examination authorities.
---------------------------------------------------------------------------
\3\ 12 U.S.C. 601-604(a) and 611-631.
\4\ 12 U.S.C. 1843(c)(13), 1843(c)(14), and 1844(c).
---------------------------------------------------------------------------
The applications and notifications comprising FR K-1 are required
to obtain a benefit. Individual respondents may request that
information submitted to the Board through the FR K-1 be kept
confidential. If a respondent requests confidential treatment, the
Board will determine whether the information is entitled to
confidential treatment on a case-by-case basis. To the extent a
respondent submits nonpublic commercial or financial information, which
is both customarily and actually treated as private by the respondent,
the respondent may request confidential treatment pursuant to exemption
4 of the Freedom of Information Act (FOIA).\5\ To the extent a
respondent submits personal, medical, or similar files, the disclosure
of which would constitute an unwarranted invasion of privacy, the
respondent may request confidential treatment pursuant to exemption 6
of the FOIA.\6\ To the extent that the Board obtains information as
part of the examination process, the information may be confidential
pursuant to exemption 8 of the FOIA.\7\
---------------------------------------------------------------------------
\5\ 5 U.S.C. 552(b)(4).
\6\ 5 U.S.C. 552(b)(6).
\7\ 5 U.S.C. 552(b)(8).
Board of Governors of the Federal Reserve System, April 29,
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-09426 Filed 5-4-21; 8:45 am]
BILLING CODE 6210-01-P