[Federal Register Volume 75, Number 176 (Monday, September 13, 2010)]
[Notices]
[Pages 55580-55582]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-22676]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval Under Delegated Authority and Submission to OMB
SUMMARY:
Background
Notice is hereby given of the final approval of proposed
information collections by the Board of Governors of the Federal
Reserve System (Board) under OMB delegated authority, as per 5 CFR
1320.16 (OMB Regulations on Controlling Paperwork Burdens on the
Public). Board-approved collections of information are incorporated
into the official OMB inventory of currently approved collections of
information.
[[Page 55581]]
Copies of the Paperwork Reduction Act (PRA) Submission, supporting
statements and approved collection of information instrument(s) 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.
FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance
Officer--Michelle Shore--Division of Research and Statistics, Board of
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829);
OMB Desk Officer--Shagufta Ahmed--Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 10235, Washington, DC 20503.
Final approval under OMB delegated authority of 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; FR 1373a
discussion groups, two times a year. FR 1373b small-panel survey, two
times a year; FR 1373b 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; FR
1373a discussion groups, 60 hours. FR 1373b small-panel, 6 hours; FR
1373b large-panel 32 hours.
Estimated average hours per response: FR 1373a survey, 30 minutes;
FR 1373a discussion groups, 90 minutes. FR 1373b small-panel, 10
minutes; FR 1373b large-panel 10 minutes.
Number of respondents: FR 1373a survey, 500; FR 1373a panel
discussion, 20. FR 1373b small-panel, 20; FR 1373b 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.
Current Actions: On June 25, 2010, the Federal Reserve published a
notice in the Federal Register (75 FR 36393) seeking public comment for
60 days on the extension, without revision, of the Surveys of Board
Publications. The comment period for this notice expired on August 24,
2010. The Federal Reserve did not receive any comments.
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),
(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.
Current Actions: On June 25, 2010, the Federal Reserve published a
notice in the Federal Register (75 FR 36393) seeking public comment for
60 days on the extension, without revision, of the Interagency Bank
Merger Act Application. The comment period for this notice expired on
August 24, 2010. The Federal Reserve did not receive any comments.
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 an exemption under the Freedom of Information Act
(5 U.S.C. 552(b)(4), (b)(6)). The confidentiality status of the
information submitted will be judged on a case-by-case basis.
[[Page 55582]]
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.
Current Actions: On June 25, 2010, the Federal Reserve published a
notice in the Federal Register (75 FR 36393) seeking public comment for
60 days on the extension, without revision, of the FR 2081a, b, c. The
comment period for this notice expired on August 24, 2010. The Federal
Reserve did not receive any comments.
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), (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.
Current Actions: On June 25, 2010, the Federal Reserve published a
notice in the Federal Register (75 FR 36393) seeking public comment for
60 days on the extension, without revision, of the FR 4025. The comment
period for this notice expired on August 24, 2010. The Federal Reserve
did not receive any comments.
Board of Governors of the Federal Reserve System, September 7,
2010.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2010-22676 Filed 9-10-10; 8:45 am]
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