81 FR 47801 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 81, Issue 141 (July 22, 2016)

The Board of Governors of the Federal Reserve System (Board or Federal Reserve) invites comment on a proposal to revise the FR H- (b)11, an information collection submitted by Savings and Loan Holding Companies (SLHCs). On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve of and assign OMB control numbers to collection of information requests and requirements 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.

[Federal Register Volume 81, Number 141 (Friday, July 22, 2016)]
[Notices]
[Pages 47801-47802]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-17358]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice for comment regarding the Federal Reserve proposal to 
extend with revision, the clearance under the Paperwork Reduction Act 
for the following information collection activity.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board or 
Federal Reserve) invites comment on a proposal to revise the FR H-
(b)11, an information collection submitted by Savings and Loan Holding 
Companies (SLHCs).
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board authority under the Paperwork Reduction Act 
(PRA) to approve of and assign OMB control numbers to collection of 
information requests and requirements 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.

DATES: Comments must be submitted on or before September 20, 2016.

ADDRESSES: You may submit comments, identified by FR H-(b)11 by any of 
the following methods:
     Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include OMB 
number in the subject line of the message.
     FAX: (202) 452-3819 or (202) 452-3102.
     Mail: Robert deV. Frierson, 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/apps/foia/proposedregs.aspx 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 
3515, 1801 K Street (between 18th and 19th Streets NW) Washington, DC 
20006 between 9:00 a.m. and 5:00 p.m. on weekdays.
    Additionally, commenters may send a copy of their comments to the 
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: 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/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    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. Telecommunications Device 
for the Deaf (TDD) users may contact (202) 263-4869, Board of Governors 
of the Federal Reserve System, Washington, DC 20551.

SUPPLEMENTARY INFORMATION: 

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 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;
    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 Federal 
Reserve should modify the proposed revisions prior to giving final 
approval.
    Proposal to approve under OMB delegated authority the extension for 
three years, with revision, of the following report:

[[Page 47802]]

    Report title: Savings Association Holding Company Report.
    Agency form number: FR H-(b)11.
    OMB control number: 7100-0334.
    Frequency: Quarterly.
    Respondents: Savings and Loan Holding Companies.
    Estimated number of respondents: 15.
    Estimated Average Hours per Response: 2 hours.
    Estimated Annual Burden Hours: 120 hours.
    General Description of Report: The FR H-(b)11 collects information 
on filings with the Securities and Exchange Commission (SEC), reports 
provided by the nationally recognized statistical rating organizations 
and securities analysts, supplemental information for select questions 
from the Quarterly Savings and Loan Holding Company Report (FR 2320; 
OMB No. 7100-0345), financial statements, and other materially 
important events and exhibits. Respondents are (1) grandfathered 
unitary SLHCs whose assets are primarily commercial and whose thrifts 
make up less than 5 percent of its consolidated assets and (2) SLHCs 
whose assets are primarily insurance-related and do not otherwise 
submit financial reports with the SEC pursuant to Section 13 or 15(d) 
of the Securities Exchange Act of 1934. The Federal Reserve uses the FR 
H-(b)11 data to analyze the overall financial condition of SLHCs to 
ensure safe and sound operations.
    Legal Authorization and Confidentiality: The Board's Legal Division 
has determined that the FR H-(b)11 is authorized by Section 10 of the 
Home Owners' Loan Act, which requires SLHCs to file ``such reports as 
may be required by the Board'' and provides that such reports ``shall 
contain such information concerning the operations of such SLHC and its 
subsidiaries as the Board may require'' (12 U.S.C. 1467a(b)(2)(A)).
    The obligation to respond to the FR H-(b)11 is mandatory. The FR H-
(b)11 covers 6 different items. Item 1 consists of SEC filings made by 
the SLHC that are not publicly traded companies and item 2 consists of 
reports provided by nationally recognized statistical rating 
organizations and securities analysts on any company in the SLHC's 
consolidated organization. The Board's Legal Division has determined 
that neither of these items should raise any issue of confidentiality.
    Item 3 consists of supplemental information for any questions on 
the FR 2320 to which the SLHC answered ``yes.'' The Board's Legal 
Division has determined that supplemental information in response to a 
``yes'' answer for the FR 2320's questions 24, 25, and 26 may be 
protected from disclosure under exemption 4 of the Freedom of 
Information Act (FOIA), which covers ``trade secrets and commercial or 
financial information obtained from a person [that is] privileged or 
confidential'' (5 U.S.C. 522(b)(4)). These questions concern any new or 
changed pledges of capital stock of any subsidiary savings association 
that secures short-term or long-term debt or other borrowings of the 
SLHC; changes to any class of securities of the SLHC or any of its 
subsidiaries that would negatively impact investors; and any default of 
the SLHC or any of its subsidiaries during the quarter. Disclosure of 
this type of information is likely to cause substantial competitive 
harm to the SLHC providing the information and thus this information 
may be protected from disclosure under FOIA exemption 4 (5 U.S.C. 
522(b)(4)).
    With regard to the supplemental information for other FR 2320 
questions that would be provided in item 3 of the FR H-(b)11, as well 
as item 4 (Other Materially Important Events), item 5 (Financial 
Statements) and item 6 (Exhibits--essentially copies not previously 
filed of its charter or bylaws), the respondent may request 
confidential treatment of such information under one or more of the 
exemptions in the FOIA. The most likely case for confidential treatment 
will be exemption 4 (5 U.S.C. 522(b)(4)). However, all such requests 
for confidential treatment would need to be reviewed on a case-by-case 
basis and in response to a specific request for disclosure.
    Proposed Revisions: The Federal Reserve proposes to eliminate the 
requirement that a publicly-traded SLHC submit a copy of its filings 
with the SEC.

    Board of Governors of the Federal Reserve System, July 14, 2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-17358 Filed 7-21-16; 8:45 am]
 BILLING CODE 6210-01-P