83 FR 12758 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 57 (March 23, 2018)

The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the Bank Holding Company Application and Notification Forms (OMB No. 7100-0121): The 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 (FR Y-3), the 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 (FR Y-3N), and the Notification for Prior Approval to Engage Directly or Indirectly in Certain Nonbanking Activities (FR Y-4).

[Federal Register Volume 83, Number 57 (Friday, March 23, 2018)]
[Notices]
[Pages 12758-12760]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-05956]


=======================================================================
-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

-----------------------------------------------------------------------

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, with revision, 
the Bank Holding Company Application and Notification Forms (OMB No. 
7100-0121): The 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 (FR Y-3), the 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 (FR Y-3N), and the 
Notification for Prior Approval to Engage Directly or Indirectly in 
Certain Nonbanking Activities (FR Y-4).

DATES: Comments must be submitted on or before May 22, 2018.

ADDRESSES: You may submit comments, identified by FR Y-3, FR Y-3N, or 
FR Y-4, by any of the following methods:
     Agency website: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     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 website at 
http://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons.

[[Page 12759]]

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, if approved. These documents will also be made available 
on the Federal Reserve Board's public website 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: 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.

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.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, With Revision, of the Following Report

    Report title: 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; Notice 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) and existing BHCs.
    Estimated average hours per response: FR Y-3, Section 3(a)(1): 50 
hours; FR Y-3, Section 3(a)(3) and 3(a)(5): 60.5 hours; FR Y-3N, 
Sections 3(a)(1), 3(a)(3), and 3(a)(5): 5 hours; FR Y-4, complete 
notification: 12 hours; FR Y-4, expedited notification: 5 hours; and FR 
Y-4, post-consummation: 0.5 hours.
    Estimated number of respondents: FR Y-3, Section 3(a)(1): 81; FR Y-
3, Section 3(a)(3) and 3(a)(5): 136; FR Y-3N, Sections 3(a)(1), 
3(a)(3), and 3(a)(5): 26; FR Y-4, complete notification: 30; FR Y-4, 
expedited notification: 11; and FR Y-4, post-consummation: 1.
    Estimated annual burden hours: 12,824 hours.
    General description of report: 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 (the BHC Act). These filings 
collect information on proposals by BHCs involving formations, 
acquisitions, mergers, and nonbanking activities. The Federal Reserve 
uses this information to evaluate each individual transaction with 
respect to financial and managerial factors, permissibility, 
competitive effects, net public benefits, financial stability, and the 
impact on the convenience and needs of affected communities.
    The applicant or notificant also is required to publish a notice in 
a newspaper of general circulation in the community where the head 
office of the bank to be acquired is located. The notice must state the 
name and address of the applicant and its proposed subsidiary, and it 
must invite the public to submit written comments to the appropriate 
Federal Reserve Bank.
    Proposed revisions: The Board proposes to revise the FR Y-3, FR Y-
3N, and FR Y-4 forms and instructions in order to improve the clarity 
of the requests; reflect the impact of new laws, regulations, capital 
requirements and accounting rules; delete items that are not typically 
useful for the analysis of the proposal; and add transparency for 
filers regarding the information that is required to consider a 
proposal. The revisions are intended to make initial filings better 
reflect and include the information that Board staff requires to 
evaluate a transaction and thereby reduce the need for subsequent 
information requests, which may delay the Board's consideration of a 
filing and create additional burden for filers.
    Legal authorization and confidentiality: The FR Y-3 application and 
FR Y-3N notification are mandatory and submitted pursuant to section 
3(a) of the BHC Act, which requires Board approval for formations, 
acquisitions, and mergers of bank holding companies (12 U.S.C. 
1842(a)), and section 5(b) of the BHC Act, which authorizes the Board 
to issue regulations and orders to carry out these functions (12 U.S.C. 
1844(b)). The FR Y-4 notification is mandatory and submitted pursuant 
to section 4(j) of the BHC Act, which requires BHCs to give advance 
written notice to the Board of any nonbanking activities (12 U.S.C. 
1843(j)), and section 5(b) of the BHC Act (12 U.S.C. 1844(b), described 
above.
    The information submitted in the FR Y-3, Y-3N, and Y-4 is 
considered to be public unless an institution requests confidential 
treatment for portions of the particular application or notification. 
Applicants may rely on any Freedom of Information Act exemption,

[[Page 12760]]

and such requests for confidentiality must contain detailed 
justifications corresponding to the claimed exemption. Requests for 
confidentiality will be evaluated on a case-by-case basis.
    Effective date: July 31, 2018.

    Board of Governors of the Federal Reserve System, March 20, 
2018.
Ann E. Misback
Secretary of the Board.
[FR Doc. 2018-05956 Filed 3-22-18; 8:45 am]
BILLING CODE 6210-01-P