[Federal Register Volume 75, Number 122 (Friday, June 25, 2010)]
[Notices]
[Pages 36393-36395]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-15492]
=======================================================================
-----------------------------------------------------------------------
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 August 24, 2010.
ADDRESSES: You may submit comments, identified by FR 1373, FR 2070, FR
2081, or FR 4025, by any of the following methods:
Agency Web Site: http://www.federalreserve.gov. Follow the
instructions for submitting comments at http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: [email protected].
[[Page 36394]]
Include the OMB control 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,
NW., 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, NW) between 9 a.m. and 5 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 Web site 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).
Proposal to approve under OMB delegated authority the extension for
three years, without revision, of the following reports:
1. Report title: Surveys of Board Publications.
Agency form number: FR 1373a, b.
OMB control number: 7100-0301.
Frequency: FR 1373a, survey: One or two times per year; discussion
groups: Two times a year. FR 1373b, small-panel survey: Two times a
year; large-panel survey, one time per year.
Reporters: FR 1373a: Community-based educators, key stakeholders,
and other educators who have previously requested consumer education
materials from the Federal Reserve. FR 1373b: Current subscribers of
the publications being surveyed.
Estimated annual reporting hours: FR 1373a: Survey, 375 hours;
discussion groups, 60 hours. FR 1373b: small-panel, 6 hours; large-
panel 32 hours.
Estimated average hours per response: FR 1373a: Survey, 30 minutes;
discussion groups, 90 minutes. FR 1373b: Small-panel, 10 minutes;
large-panel 10 minutes.
Number of respondents: FR 1373a: Survey, 500; panel discussion, 20.
FR 1373b: Small-panel, 20; large-panel, 200.
General description of report: This information collection is
voluntary. The FR 1373a study is authorized pursuant to section 18(f)
of the Federal Trade Commission Improvement Act (15 U.S.C. 57a(f)). The
FR 1373b study is authorized pursuant to the Federal Reserve Act (12
U.S.C. 248(i)). The specific information collected is not considered
confidential.
Abstract: The Federal Reserve uses the FR 1373a to: (1) Conduct
periodic reviews and evaluations of the consumer education materials
and (2) develop and evaluate consumer education materials under
consideration for distribution. The FR 1373b data help the Federal
Reserve determine if it should continue to issue certain publications
and, if so, whether the public would like to see changes in the method
of information delivery, frequency, content, format, or appearance.
2. Report title: Interagency Bank Merger Act Application.
Agency form number: FR 2070.
OMB control number: 7100-0171.
Frequency: On occasion.
Reporters: State member banks.
Estimated annual reporting hours: Nonaffiliate Transactions: 1,470
hours; Affiliate Transactions: 216 hours.
Estimated average hours per response: Nonaffiliate Transactions: 30
hours; Affiliate Transactions: 18 hours.
Number of respondents: Nonaffiliate Transactions: 49; Affiliate
Transactions: 12.
General description of report: This information collection is
mandatory. The FR 2070 is pursuant to section 18(c) of the Federal
Deposit Insurance Act (12 U.S.C. 1828(c)) and is not given confidential
treatment. However, applicants may request that parts of a submitted
application be kept confidential. In such cases, the burden is on the
applicant to justify the exemption by demonstrating that disclosure
would cause substantial competitive harm or result in an unwarranted
invasion of personal privacy or would otherwise qualify for an
exemption under the Freedom of Information Act (5 U.S.C. 552(b)(4) and
(b)(6)). The confidentiality status of the information submitted will
be judged on a case-by-case basis.
Abstract: The Federal Reserve, the Office of the Comptroller of the
Currency, the Federal Deposit Insurance Corporation, and the Office of
Thrift Supervision each use this application form to collect
information for bank merger proposals that require prior approval under
the Bank Merger Act. Prior approval is required for every merger
transaction involving affiliated or nonaffiliated institutions and must
be sought from the regulatory agency of the depository institution that
would survive the proposed transaction. A merger transaction may
include a merger, consolidation, assumption of deposit liabilities, or
certain asset-transfers between or among two or more institutions. The
Federal Reserve collects this information so that it may meet its
statutory obligation to evaluate the competitive, financial,
managerial, future prospects, and convenience and needs aspects of each
state member bank merger proposal.
3. Report title: Interagency Notice of Change in Control,
Interagency Notice of Change in Director or Senior Executive Officer,
and Interagency Biographical and Financial Report.
Agency form number: FR 2081a, FR 2081b, and FR 2081c.
OMB control number: 7100-0134.
Frequency: On occasion.
Reporters: Financial institutions and certain of their officers and
shareholders.
Annual reporting hours: FR 2081a: 3,570 hours; FR 2081b: 272 hours;
FR 2081c: 3,572 hours.
Estimated average hours per response: FR 2081a: 30 hours; FR 2081b:
2 hours; FR 2081c: 4 hours.
Number of respondents: FR 2081a: 119; FR 2081b: 136; FR 2081c: 893.
General description of report: This information collection is
mandatory pursuant to section 7(j) of the Federal Deposit Insurance Act
(12 U.S.C. 1817(j)) and section 914 of the Financial Institutions
Reform, Recovery, and Enforcement Act (12 U.S.C. 1831(i)) and is not
given confidential treatment. However, applicants may request that
parts of a submitted application be kept confidential. In such cases,
the burden is on the applicant to justify the exemption by
demonstrating that disclosure would cause substantial competitive harm
or result in an unwarranted invasion of personal privacy or would
otherwise qualify for
[[Page 36395]]
an exemption under the Freedom of Information Act (5 U.S.C. 552(b)(4)
and (b)(6)). The confidentiality status of the information submitted
will be judged on a case-by-case basis.
Abstract: The information collected assists the Federal Reserve,
the Office of the Comptroller of the Currency, the Federal Deposit
Insurance Corporation, and the Office of Thrift Supervision in
fulfilling their statutory responsibilities as supervisors. Each of
these forms is used to collect information in connection with
applications and notices filed prior to proposed changes in the
ownership or management of banking organizations. The agencies use the
information to evaluate the controlling owners, senior officers, and
directors of the insured depository institutions subject to their
oversight.
4. Report title: Recordkeeping and Disclosure Requirements
Associated with Regulation R.
Agency form number: FR 4025.
OMB control number: 7100-0316.
Frequency: On occasion.
Reporters: Commercial banks and savings associations.
Estimated annual reporting hours: Section 701, disclosures to
customers--12,500 hours; Section 701, disclosures to brokers--375
hours; Section 723, recordkeeping--188 hours; Section 741, disclosures
to customers--62,500 hours.
Estimated average hours per response: Section 701, disclosures to
customers--5 minutes; Section 701, disclosures to brokers--15 minutes;
Section 723, recordkeeping--15 minutes; Section 741, disclosures to
customers--5 minutes.
Number of respondents: Section 701, disclosures to customers--
1,500; Section 701, disclosures to brokers--1,500; Section 723,
recordkeeping--75; Section 741, disclosures to customers--750.
General description of report: This information collection is
required to obtain a benefit pursuant to section 3(a)(4)(F) of the
Securities Exchange Act (15 U.S.C. 78c(a)(4)(F)) and may be given
confidential treatment under the authority of the Freedom of
Information Act (5 U.S.C. 552(b)(4) and (b)(8)).
Abstract: Regulation R implements certain exceptions for banks from
the definition of broker under Section 3(a)(4) of the Securities
Exchange Act of 1934, as amended by the Gramm-Leach-Bliley Act.
Sections 701, 723, and 741 of Regulation R contain information
collection requirements. Section 701 requires banks that wish to
utilize the exemption in that section to make certain disclosures to
the high net worth customer or institutional customer. In addition,
section 701 requires banks that wish to utilize the exemption in that
section to provide a notice to its broker-dealer partner regarding
names and other identifying information about bank employees. Section
723 requires a bank that chooses to rely on the exemption in that
section to exclude certain trust or fiduciary accounts in determining
its compliance with the chiefly compensated test in section 721 to
maintain certain records relating to the excluded accounts. Section 741
requires a bank relying on the exemption provided by that section to
provide customers with a prospectus for the money market fund
securities, not later than the time the customer authorizes the bank to
effect the transaction in such securities, if the class of series of
securities are not no-load.
Board of Governors of the Federal Reserve System, June 22, 2010.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2010-15492 Filed 6-24-10; 8:45 am]
BILLING CODE 6210-01-P