[Federal Register: August 31, 2006 (Volume 71, Number 169)]
[Notices]
[Page 51828-51829]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr31au06-53]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: Background.
On June 15, 1984, the Office of Management and Budget (OMB)
delegated to the Board of Governors of the Federal Reserve System
(``Board'') its approval authority under the Paperwork Reduction Act,
as per 5 CFR 1320.16, to approve of and assign OMB control numbers to
collection of information requests and requirements conducted or
sponsored by the Board under conditions set forth in 5 CFR 1320
Appendix A.1. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. Copies of the OMB 83-Is and supporting
statements and approved collection of information instruments are
placed into OMB's public docket files. The Federal Reserve may not
conduct or sponsor, and the respondent is not required to respond to,
an information collection that has been extended, revised, or
implemented on or after October 1, 1995, unless it displays a currently
valid OMB control number.
Request for comment on information collection proposal
The following information collection, which is being handled under
this delegated authority, has received initial Board approval and is
hereby published for comment. At the end of the comment period, the
proposed information collection, along with an analysis of comments and
recommendations received, will be submitted to the Board for final
approval under OMB delegated authority. Comments are invited on the
following:
a. Whether the proposed collection of information is necessary for
the proper 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; and
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.
DATES: Comments must be submitted on or before October 30, 2006.
ADDRESSES: You may submit comments, identified by FR Y-12 or FR Y-12A,
by any of the following methods:
Agency Web Site: http://www.federalreserve.gov Follow the instructions for submitting comments at http://www.federalreserve.gov/.
.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: regs.comments@federalreserve.gov. Include docket
number in the subject line of the message.
FAX: 202-452-3819 or 202-452-3102.
Mail: Jennifer J. Johnson, Secretary, Board of Governors
of the Federal Reserve System, 20th Street and Constitution Avenue,
N.W., Washington, DC 20551.
All public comments are available from the Board's web site at
http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm 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 in Room MP-500
of the Board's Martin Building (20th and C Streets, N.W.) between 9:00
a.m. and 5:00 p.m. on weekdays.
FOR FURTHER INFORMATION CONTACT: A copy of the proposed form and
instructions, the Paperwork Reduction Act Submission (OMB 83-I),
supporting statement, and other documents that will be placed into
OMB's public docket files once approved may be requested from the
agency clearance officer, whose name appears below.
Michelle Long, Federal Reserve Board Clearance Officer (202-452-
3829), Division of Research and Statistics, Board of Governors of the
Federal Reserve System, Washington, DC 20551. Telecommunications Device
for the Deaf (TDD) users may contact (202-263-4869), Board of Governors
of the Federal Reserve System, Washington, DC 20551.
Proposal to approve under OMB delegated authority the extension for
three years, with revision, of the following collection of information:
Report title: Consolidated Bank Holding Company Report of Equity
Investments in Nonfinancial Companies, and the Annual Report of
Merchant Banking Investments Held for an Extended Period.
Agency form number: FR Y-12 and FR Y-12A, respectively
OMB control number: 7100-0300
Frequency: FR Y-12, quarterly and semiannually; FR Y-12A, annually
Reporters: Bank holding companies, financial holding companies
Annual reporting hours: FR Y-12, 1,824; FR Y-12A, 105
Estimated average hours per response: FR Y-12, 16; FR Y-12A, 7
Number of respondents: FR Y-12, 30; FR Y-12A, 15
General description of report: This collection of information is
mandatory pursuant to Section 5(c) of the Bank Holding Company Act (12
U.S.C. 1844(c)). The FR Y-12 data are not considered confidential,
however, bank holding companies may request confidential treatment
pursuant to Sections (b)(4) and (b)(8) of the Freedom of Information
Act (FOIA) (5 U.S.C. 552(b)(4) and (b)(8)). The FR Y-12A data would be
considered confidential on the basis that disclosure of specific
commercial or financial data relating to investments held for extended
periods of time could result in substantial harm to the competitive
position of the financial holding company pursuant to the FOIA (5
U.S.C. 552(b)(4) and (b)(8)).
Abstract: The FR Y-12 collects data from certain domestic bank
holding companies on their equity investments in nonfinancial companies
on four schedules: Type of Investments, Type of Security, Type of
Entity within the Banking Organization, and Nonfinancial Investment
Transactions during Reporting Period. The FR Y-12 data serve as an
important risk-monitoring device for institutions active in this
business line by allowing the Federal Reserve to monitor an
institution's activity between review dates. It also serves as an early
warning mechanism to identify institutions whose activities in this
area are growing rapidly and therefore warrant special supervisory
attention.
Current actions: The Federal Reserve proposes to extend for three
years, without revision, the FR Y-12. In addition, the Federal Reserve
proposes to implement a companion reporting form, the FR Y-12A,
effective December 31, 2006. The proposed FR Y-12A is
[[Page 51829]]
intended to provide the Federal Reserve with data concerning merchant
banking investments that are approaching the end of the holding period
permissible under Regulation Y. A financial holding company generally
would have to submit a FR Y-12A if it holds a merchant banking
investment for longer than eight years (or thirteen years in the case
of an investment held through a qualifying private equity fund).
Board of Governors of the Federal Reserve System, August
28,2006.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E6-14503 Filed 8-30-06; 8:45 am]
BILLING CODE 6210-01-S