[Federal Register: February 4, 2008 (Volume 73, Number 23)]
[Notices]
[Page 6515-6517]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr04fe08-51]
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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 (PRA),
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 Paperwork Reduction Act
Submission, 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 proposals
The following information collections, which are being handled
under this delegated authority, have received initial Board approval
and are hereby published for comment. At the end of the comment period,
the proposed information collections, 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 April 4, 2008.
ADDRESSES: You may submit comments, identified by FR Y-3, FR Y-3N, and
FR Y-4; FR K-1; or FR 1379, 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
[[Page 6516]]
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 form 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.
Additionally, commenters should send a copy of their comments to
the OMB Desk Officer by mail to the Office of Information and
Regulatory Affairs, U.S. 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: http://www.federalreserve.gov/boarddocs/reportforms/review.cfm
or may be
requested from the agency clearance officer, whose name appears below.
Michelle Shore, 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 reports:
1. Report titles: Application for Prior Approval to Become a Bank
Holding Company or for a Bank Holding Company to Acquire an Additional
Bank or Bank Holding Company; Notification for Prior Approval to Become
a Bank Holding Company or for a Bank Holding Company to Acquire an
Additional Bank or Bank Holding Company; and Notification for Prior
Approval to Engage Directly or Indirectly in Certain Nonbanking
Activities
Agency form numbers: FR Y-3, FR Y-3N, and FR Y-4
OMB control number: 7100-0121
Frequency: Event generated
Reporters: Corporations seeking to become bank holding companies
(BHCs), or BHCs and state chartered banks that are members of the
Federal Reserve System.
Annual reporting hours: 22,920
Estimated average hours per response: FR Y-3 Section 3(a)(1): 49;
FR Y-3 Section 3(a)(3) and 3(a)(5): 59.5; FR Y-3N Section 3(a)(1),
3(a)(3), and 3(a)(5): 5; FR Y-4 Complete notification: 12; FR Y-4
Expedited notification: 5; and FR Y-4 Post-consummation: 30 minutes
Number of respondents: 674
General description of report: This information collection is
mandatory (12 U.S.C. 1842(a), 1844(b),and 1843(j)(1)(b)). The forms are
designed so that all information contained in a filing is available to
the public unless the applicant, notificant, or individual(s) can
substantiate that an exemption under the Freedom of Information Act
(FOIA) is satisfied.
Abstract: The Federal Reserve requires the submission of these
filings for regulatory and supervisory purposes and to allow the
Federal Reserve to fulfill its statutory obligations under the Bank
Holding Company Act of 1956. These filings collect information on
proposals by bank holding companies involving formations, acquisitions,
mergers, and nonbanking activities. The Federal Reserve must obtain
this information to evaluate each individual transaction with respect
to financial and managerial factors, permissibility, competitive
effects, net public benefits, and the impact on the convenience and
needs of affected communities.
Current Actions: The proposed revisions reflect changes to the
Federal Reserve's Small Bank Holding Company Policy Statement and the
Federal Reserve's risk-based and leverage capital guidelines that were
announced in February 2006. The proposed revisions also reflect recent
changes in the type of information that the Federal Reserve requires
from filers for purposes of determining whether information submitted
in a filing may be provided to the public under the FOIA. Each proposed
revision is intended to make initial filings more reflective of the
specifically proposed transaction and thereby reduce the need for
subsequent information requests, which delay the Federal Reserve's
consideration of a filing and create additional burden for filers. In
addition, the instructions have been reformatted to clarify the
possible filings, clarify the legal and financial requirements for
different types of filings, and provide additional practical guidance
to assist a filer in understanding the information and processing
requirements for particular types of proposals.
2. 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: Event generated
Reporters: State member banks, Edge and agreement corporations,
bank holding companies, and certain foreign banking organizations.
Annual reporting hours: 889
Estimated average hours per response: Attachments A and B, 11.5
hours; Attachments C through G, 10 hours; Attachments H and I, 15.5
hours; Attachment J, 10 hours; Attachment K, 20 hours
Number of respondents: 29
General description of report: This information collection is
mandatory (12 U.S.C. 601-604(a) and 611-631)) and (12 U.S.C.
1843(c)(13), 1843(c)(14) and 1844(c)). The applying organization has
the opportunity to request confidentiality for information that it
believes will qualify for an FOIA exemption.
Abstract: Subpart A of Regulation K governs the foreign investments
and activities of member banks, Edge and agreement corporations, bank
holding companies, and certain investments by foreign organizations.
Subpart C of Regulation K governs investments in export trading
companies. The FR K-1 information collection contains eleven
attachments for the application and notification requirements embodied
in Subparts A and C of Regulation K. The Federal Reserve requires these
applications for regulatory and supervisory purposes and to allow the
Federal Reserve to fulfill its statutory obligations under the Federal
Reserve Act and the Bank Holding Company Act of 1956.
Current Actions: The Federal Reserve proposes to replace the
existing confidentiality paragraph in the General Information and
Instructions. In addition, respondents would be required to make a
certification regarding information contained in the application.
3. Report titles: Consumer Satisfaction Questionnaire; Federal
Reserve Consumer Help Center Survey; and Federal Reserve Consumer Help
Online Complaint Form
Agency form numbers: FR 1379a, FR 1379b, and FR 1379c
OMB control number: 7100-0135
Frequency: Event generated
Reporters: Consumers
Annual reporting hours: 2,037
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Estimated average hours per response: FR 1379a: 5 minutes; FR
1379b: 5 minutes; FR 1379c: 10 minutes.
Number of respondents: FR 1379a: 2,640; FR 1379b: 1,800; FR 1379c:
10,000.
General description of report: This information collection is
voluntary and authorized by law (15 U.S.C. 57(a)(f)(1)). While the
individual respondent's information is confidential, once such
information has been aggregated, the aggregated information is not
considered confidential. The information may be aggregated with
responses from other respondents and released in statistical format
while maintaining the privacy of the individual respondents. If a
respondent provides information not specifically solicited on the form,
that information may be exempt from disclosure under FOIA (5 U.S.C.
Sec. 552 (b)(4), (b)(6), or (b)(7)) upon specific request from the
respondent.
Abstract: The FR 1379 questionnaires are sent to consumers who have
filed complaints with the Federal Reserve against state member banks.
The information gathered on the questionnaires is used to determine
whether consumers are satisfied with the way the Federal Reserve Bank
handled their complaints and to solicit suggestions for improving the
complaint investigation process.
Current Actions: The Federal Reserve proposes to revise the FR 1379
information collection by: (1) renumbering the current FR 1379 to FR
1379a and reducing the number of questions from twenty-five to six, (2)
implementing a new voluntary questionnaire, the Federal Reserve
Consumer Help Center Survey (FR 1379b) to survey consumers about the
Federal Reserve Consumer Help (FRCH) center, the Federal Reserve
System's new central intake center for consumer complaints and
inquiries, and (3) implementing a new voluntary consumer complaint
form, the Federal Reserve Consumer Help Online Complaint Form (FR
1379c) to the FRCH web site\1\ that would allow consumers to submit
their complaint or inquiry to the FRCH center electronically. The
proposed changes would be effective second quarter 2008.
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\1\ See Press Release dated November 19, 2007:
http://www.federalreserve.gov/newsevents/press/other/20071119a.htm.
Board of Governors of the Federal Reserve System, January 30,
2008.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E8-1930 Filed 2-1-08; 8:45 am]
BILLING CODE 6210-01-S