82 FR 40000 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 162 (August 23, 2017)

The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the mandatory Quarterly Savings and Loan Holding Company Report (FR 2320; OMB No. 7100-0345). On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve 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 82, Number 162 (Wednesday, August 23, 2017)]
[Notices]
[Pages 40000-40001]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-17823]


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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, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the mandatory Quarterly Savings and Loan Holding Company 
Report (FR 2320; OMB No. 7100-0345).
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board authority under the Paperwork Reduction Act 
(PRA) to approve 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 October 23, 2017.

ADDRESSES: You may submit comments, identified by FR 2320, 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: Ann E. Misback, 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 proposal prior to giving final approval.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, Without Revision, of the Following Report

    Report Title: Quarterly Savings and Loan Holding Company Report.
    Agency Form Number: FR 2320.
    OMB Control Number: 7100-0345.
    Frequency: Quarterly.

[[Page 40001]]

    Respondents: Savings and loan holding companies (SLHCs) that are 
currently exempt from filing other Federal Reserve regulatory reports.
    Estimated Number of Respondents: 15.
    Estimated Average Hours per Response: 2.5 hours.
    Estimated Annual Burden Hours: 150 hours.
    General Description of Report: The FR 2320 collects select parent 
only and consolidated balance sheet and income statement financial data 
and organizational structure data from SLHCs that are currently exempt 
from filing other Federal Reserve regulatory reports (exempt SLHCs).\1\ 
The FR 2320 is used by the Board to analyze the overall financial 
condition of exempt SLHCs to ensure safe and sound operations. These 
data assist the Board in the evaluation of a diversified holding 
company and in determining whether an institution is in compliance with 
applicable laws and regulations.
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    \1\ To be exempt, an SLHC must meet one of the following 
criteria: (1) The SLHC was formed under section 10(c)(9)(C) of the 
Home Owners' Loan Act (HOLA) and the consolidated assets of its 
saving association subsidiaries make up less than 5 percent of the 
total consolidated assets of the SLHC; or (2) its top-tier holding 
company is an insurance company that only prepares financial 
statements using statutory accounting principles.
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    Legal Authorization and Confidentiality: The Board has determined 
that the Home Owners' Loan Act authorizes the Board to require SLHCs to 
file ``such reports as may be required by the Board'' and instructs 
that such reports ``shall contain such information concerning the 
operations of such savings and loan holding company and its 
subsidiaries as the Board may require.'' (12 U.S.C. 1467a(b)(2)). The 
obligation to respond is mandatory for exempt SLHCs. In some cases, 
lower-tier SLHCs may voluntarily file the FR 2320. In other cases 
lower-tier SLHCs may be required to file (in addition to the top-tier 
SLHC) for safety and soundness purposes at the discretion of the 
appropriate Federal Reserve Bank.
    The Board also has determined that data items C572, C573, and C574 
(line items 24, 25, and 26) may be protected from disclosure under 
exemption 4 of the Freedom of Information Act (FOIA). Commercial or 
financial information may be protected from disclosure under exemption 
4 if disclosure of such information is likely to cause substantial 
competitive harm to the provider of the information. (5 U.S.C. 
552(b)(4)). The data items listed above pertain to new or changed 
pledges, or 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 defaults 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.
    With regard to the remaining data items on the FR 2320, the Board 
has determined that institutions may request confidential treatment for 
any FR 2320 data item or for all FR 2320 data items, and that 
confidential treatment will be reviewed on a case-by-case basis.

    Board of Governors of the Federal Reserve System, August 18, 
2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-17823 Filed 8-22-17; 8:45 am]
BILLING CODE 6210-01-P