83 FR 12760 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

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

Page Range		12760-12761
FR Document		2018-05958

The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the International Applications and Prior Notifications Under Subpart B of Regulation K (FR K-2; OMB No. 7100-0284). The Board proposes to revise the FR K-2 form and instructions in order to: Improve the clarity of the requests; reflect new laws, regulations, capital requirements, and accounting rules; make minor changes for improved style, grammar, and clarity; and harmonize the general information, certification, and confidentiality sections with other similar forms. The revisions are intended to reduce the need for subsequent requests for additional information from respondents, which delay the Federal Reserve's consideration of a filing and create additional burden for filers.

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

[Federal Register Volume 83, Number 57 (Friday, March 23, 2018)]
[Notices]
[Pages 12760-12761]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2018-05958]

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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.

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

SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, with revision,
the International Applications and Prior Notifications Under Subpart B
of Regulation K (FR K-2; OMB No. 7100-0284). The Board proposes to
revise the FR K-2 form and instructions in order to: Improve the
clarity of the requests; reflect new laws, regulations, capital
requirements, and accounting rules; make minor changes for improved
style, grammar, and clarity; and harmonize the general information,
certification, and confidentiality sections with other similar forms.
The revisions are intended to reduce the need for subsequent requests
for additional information from respondents, which delay the Federal
Reserve's consideration of a filing and create additional burden for
filers.

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

ADDRESSES: You may submit comments, identified by FR K-2, 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: regs.comments@federalreserve.gov. 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. 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 Paper Reduction Act
(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 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.

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: International Applications and Prior Notifications
Under Subpart B of Regulation K.
Agency form number: FR K-2.
OMB control number: 7100-0284.
Frequency: On occasion.
Respondents: Foreign banks.
Estimated number of respondents: 14.
Estimated average hours per response: 36 hours.
Estimated annual burden hours: 504 hours.
General description of collection: Foreign banks are required to
obtain the prior approval of the Federal Reserve to establish a branch,
agency, or representative office in the United States; to acquire
ownership or control of a commercial lending company in the United
States; or to change the status of any existing office in the United
States. The FR K-2 information collection contains five attachments for
the application and notification requirements embodied in subpart B of
Regulation K. The Federal Reserve uses the information to fulfill its
statutory obligations under the International Banking Act.
The applicant also is required to publish a notice in a newspaper
of general circulation in the community where the office is proposed to
be located. The notice must state the name and address of the
applicant/notificant

[[Page 12761]]

and the proposed office, and it must invite the public to submit
written comments to the appropriate Reserve Bank.
Proposed revisions: The Board proposes to revise the FR K-2 form
and instructions in order to: Improve the clarity of the requests;
reflect the impact of new laws, regulations, capital requirements, and
accounting rules; make minor changes for improved style, grammar and
clarity; and harmonize the general information, certification, and
confidentiality sections with other similar forms. The revisions are
intended to make initial filings more reflective of the proposed
transaction and thereby reduce the need for subsequent information
requests, which delay the Federal Reserve's consideration of a filing
and create additional burden for filers.
Legal authorization and confidentiality: This information
collection is mandatory and collected pursuant to sections 7, 10, and
13 of the International Banking Act (12 U.S.C. 3105, 3107, and 3108).
The information collected on the FR K-2 is normally subject to public
disclosure under the Freedom of Information Act (FOIA). The applying or
notifying organization may request that portions of the information
contained in the FR K-2 be afforded confidential treatment. To do so,
applicants must demonstrate how the information for which
confidentiality is requested would fall within the scope of one or more
of the exemptions contained in the FOIA. Any such request would 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. 2018-05958 Filed 3-22-18; 8:45 am]
BILLING CODE 6210-01-P

12760 Federal Register / Vol. 83, No. 57 / Friday, March 23, 2018 / Notices

and such requests for confidentiality All public comments are available the PRA. Comments are invited on the
must contain detailed justifications from the Board’s website at http:// following:
corresponding to the claimed www.federalreserve.gov/apps/foia/ a. Whether the proposed collection of
exemption. Requests for confidentiality proposedregs.aspx as submitted, unless information is necessary for the proper
will be evaluated on a case-by-case modified for technical reasons. performance of the Federal Reserve’s
basis. Accordingly, your comments will not be functions; including whether the
Effective date: July 31, 2018. edited to remove any identifying or information has practical utility;
Board of Governors of the Federal Reserve contact information. Public comments b. The accuracy of the Federal
System, March 20, 2018. may also be viewed electronically or in Reserve’s estimate of the burden of the
Ann E. Misback paper form in Room 3515, 1801 K Street proposed information collection,
Secretary of the Board. (between 18th and 19th Streets NW) including the validity of the
[FR Doc. 2018–05956 Filed 3–22–18; 8:45 am] Washington, DC 20006 between 9:00 methodology and assumptions used;
a.m. and 5:00 p.m. on weekdays. c. Ways to enhance the quality,
BILLING CODE 6210–01–P
Additionally, commenters may send a utility, and clarity of the information to
copy of their comments to the OMB be collected;
FEDERAL RESERVE SYSTEM Desk Officer—Shagufta Ahmed—Office d. Ways to minimize the burden of
of Information and Regulatory Affairs, information collection on respondents,
Proposed Agency Information Office of Management and Budget, New including through the use of automated
Collection Activities; Comment Executive Office Building, Room 10235, collection techniques or other forms of
Request 725 17th Street NW, Washington, DC information technology; and
20503 or by fax to (202) 395–6974. e. Estimates of capital or startup costs
AGENCY: Board of Governors of the and costs of operation, maintenance,
Federal Reserve System. FOR FURTHER INFORMATION CONTACT: A and purchase of services to provide
ACTION: Notice, request for comment. copy of the Paper Reduction Act (PRA) information.
OMB submission, including the At the end of the comment period, the
SUMMARY: The Board of Governors of the proposed reporting form and comments and recommendations
Federal Reserve System (Board) invites instructions, supporting statement, and received will be analyzed to determine
comment on a proposal to extend for other documentation will be placed into the extent to which the Federal Reserve
three years, with revision, the OMB’s public docket files, if approved. should modify the proposal.
International Applications and Prior These documents will also be made
Notifications Under Subpart B of available on the Federal Reserve Board’s Proposal To Approve Under OMB
Regulation K (FR K–2; OMB No. 7100– public website at: http:// Delegated Authority the Extension for
0284). The Board proposes to revise the www.federalreserve.gov/apps/ Three Years, With Revision, of the
FR K–2 form and instructions in order reportforms/review.aspx or may be Following Report
to: Improve the clarity of the requests; requested from the agency clearance Report title: International
reflect new laws, regulations, capital officer, whose name appears below. Applications and Prior Notifications
requirements, and accounting rules; Under Subpart B of Regulation K.
Federal Reserve Board Clearance
make minor changes for improved style, Agency form number: FR K–2.
Officer—Nuha Elmaghrabi—Office of
grammar, and clarity; and harmonize OMB control number: 7100–0284.
the Chief Data Officer, Board of
the general information, certification, Frequency: On occasion.
Governors of the Federal Reserve
and confidentiality sections with other Respondents: Foreign banks.
System, Washington, DC 20551, (202)
similar forms. The revisions are Estimated number of respondents: 14.
452–3829. Telecommunications Device
intended to reduce the need for Estimated average hours per response:
for the Deaf (TDD) users may contact
subsequent requests for additional 36 hours.
(202) 263–4869, Board of Governors of
information from respondents, which Estimated annual burden hours: 504
the Federal Reserve System,
delay the Federal Reserve’s hours.
Washington, DC 20551.
consideration of a filing and create General description of collection:
additional burden for filers. SUPPLEMENTARY INFORMATION: On June Foreign banks are required to obtain the
DATES: Comments must be submitted on 15, 1984, the Office of Management and prior approval of the Federal Reserve to
or before May 22, 2018. Budget (OMB) delegated to the Board establish a branch, agency, or
ADDRESSES: You may submit comments,
authority under the PRA to approve of representative office in the United
identified by FR K–2, by any of the and assign OMB control numbers to States; to acquire ownership or control
following methods: collection of information requests and of a commercial lending company in the
• Agency website: http:// requirements conducted or sponsored United States; or to change the status of
www.federalreserve.gov. Follow the by the Board. In exercising this any existing office in the United States.
instructions for submitting comments at delegated authority, the Board is The FR K–2 information collection
http://www.federalreserve.gov/apps/ directed to take every reasonable step to contains five attachments for the
foia/proposedregs.aspx. solicit comment. In determining application and notification
• Email: regs.comments@ whether to approve a collection of requirements embodied in subpart B of
federalreserve.gov. Include OMB information, the Board will consider all Regulation K. The Federal Reserve uses
number in the subject line of the comments received from the public and the information to fulfill its statutory
message. other agencies. obligations under the International
amozie on DSK30RV082PROD with NOTICES

• FAX: (202) 452–3819 or (202) 452– Request for Comment on Information Banking Act.
3102. Collection Proposal The applicant also is required to
• Mail: Ann E. Misback, Secretary, publish a notice in a newspaper of
Board of Governors of the Federal The Board invites public comment on general circulation in the community
Reserve System, 20th Street and the following information collection, where the office is proposed to be
Constitution Avenue NW, Washington, which is being reviewed under located. The notice must state the name
DC 20551. authority delegated by the OMB under and address of the applicant/notificant

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Federal Register / Vol. 83, No. 57 / Friday, March 23, 2018 / Notices 12761

and the proposed office, and it must FR K–1 form and instructions primarily System, Washington, DC 20551, (202)
invite the public to submit written to make minor changes for improved 452–3829. Telecommunications Device
comments to the appropriate Reserve style, grammar, and clarity, and to align for the Deaf (TDD) users may contact
Bank. the general information, certification, (202) 263–4869, Board of Governors of
Proposed revisions: The Board and confidentiality sections with other the Federal Reserve System,
proposes to revise the FR K–2 form and similar forms. No changes have been Washington, DC 20551.
instructions in order to: Improve the made to the information required in SUPPLEMENTARY INFORMATION: On
clarity of the requests; reflect the impact various attachments. June 15, 1984, the Office of Management
of new laws, regulations, capital DATES: Comments must be submitted on and Budget (OMB) delegated to the
requirements, and accounting rules; or before May 22, 2018. Board authority under the PRA to
make minor changes for improved style, ADDRESSES: You may submit comments, approve of and assign OMB control
grammar and clarity; and harmonize the identified by FR K–1, by any of the numbers to collection of information
general information, certification, and following methods: requests and requirements conducted or
confidentiality sections with other • Agency website: http:// sponsored by the Board. In exercising
similar forms. The revisions are www.federalreserve.gov. Follow the this delegated authority, the Board is
intended to make initial filings more instructions for submitting comments at directed to take every reasonable step to
reflective of the proposed transaction http://www.federalreserve.gov/apps/ solicit comment. In determining
and thereby reduce the need for foia/proposedregs.aspx. whether to approve a collection of
subsequent information requests, which • Email: regs.comments@ information, the Board will consider all
delay the Federal Reserve’s federalreserve.gov. Include OMB comments received from the public and
consideration of a filing and create number in the subject line of the other agencies.
additional burden for filers. message.
Legal authorization and Request for Comment on Information
• FAX: (202) 452–3819 or (202) 452– Collection Proposal
confidentiality: This information 3102.
collection is mandatory and collected • Mail: Ann E. Misback, Secretary, The Board invites public comment on
pursuant to sections 7, 10, and 13 of the Board of Governors of the Federal the following information collection,
International Banking Act (12 U.S.C. Reserve System, 20th Street and which is being reviewed under
3105, 3107, and 3108). The information Constitution Avenue NW, Washington, authority delegated by the OMB under
collected on the FR K–2 is normally DC 20551. the PRA. Comments are invited on the
subject to public disclosure under the All public comments are available following:
Freedom of Information Act (FOIA). The from the Board’s website at http:// a. Whether the proposed collection of
applying or notifying organization may www.federalreserve.gov/apps/foia/ information is necessary for the proper
request that portions of the information proposedregs.aspx as submitted, unless performance of the Federal Reserve’s
contained in the FR K–2 be afforded modified for technical reasons. functions; including whether the
confidential treatment. To do so, Accordingly, your comments will not be information has practical utility;
applicants must demonstrate how the edited to remove any identifying or b. The accuracy of the Federal
information for which confidentiality is contact information. Public comments Reserve’s estimate of the burden of the
requested would fall within the scope of may also be viewed electronically or in proposed information collection,
one or more of the exemptions paper form in Room 3515, 1801 K Street including the validity of the
contained in the FOIA. Any such (between 18th and 19th Streets NW), methodology and assumptions used;
request would be evaluated on a case- Washington, DC 20006 between 9:00 c. Ways to enhance the quality,
by-case basis. a.m. and 5:00 p.m. on weekdays. utility, and clarity of the information to
Effective date: July 31, 2018. Additionally, commenters may send a be collected;
Board of Governors of the Federal Reserve copy of their comments to the OMB d. Ways to minimize the burden of
System, March 20, 2018. Desk Officer—Shagufta Ahmed—Office information collection on respondents,
Ann E. Misback, of Information and Regulatory Affairs, including through the use of automated
Secretary of the Board. Office of Management and Budget, New collection techniques or other forms of
Executive Office Building, Room 10235, information technology; and
[FR Doc. 2018–05958 Filed 3–22–18; 8:45 am]
e. Estimates of capital or startup costs
BILLING CODE 6210–01–P 725 17th Street NW, Washington, DC
and costs of operation, maintenance,
20503 or by fax to (202) 395–6974.
and purchase of services to provide
FOR FURTHER INFORMATION CONTACT: information.
FEDERAL RESERVE SYSTEM A copy of the Paperwork Reduction Act At the end of the comment period, the
(PRA) OMB submission, including the comments and recommendations
Proposed Agency Information proposed reporting form and
Collection Activities; Comment received will be analyzed to determine
instructions, supporting statement, and the extent to which the Federal Reserve
Request other documentation will be placed into should modify the proposal.
AGENCY: Board of Governors of the OMB’s public docket files, if approved.
Federal Reserve System. These documents will also be made Proposal To Approve Under OMB
available on the Federal Reserve Board’s Delegated Authority the Extension for
ACTION: Notice, request for comment.
public website at: http:// Three Years, With Revision, of the
SUMMARY: The Board of Governors of the www.federalreserve.gov/apps/ Following Report
amozie on DSK30RV082PROD with NOTICES

Federal Reserve System (Board) invites reportforms/review.aspx or may be Report title: International
comment on a proposal to extend for requested from the agency clearance Applications and Prior Notifications
three years, with revision, the officer, whose name appears below. under Subparts A and C of
International Applications and Prior Federal Reserve Board Clearance Regulation K.
Notifications under Subparts A and C of Officer—Nuha Elmaghrabi—Office of Agency form number: FR K–1.
Regulation K (FR K–1; OMB No. 7100– the Chief Data Officer, Board of OMB control number: 7100–0107.
0107). The Board proposes to revise the Governors of the Federal Reserve Frequency: On occasion.

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Document Created: 2018-11-01 08:54:19
Document Modified: 2018-11-01 08:54:19

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice, request for comment.
Dates		Comments must be submitted on or before May 22, 2018.
Contact		A copy of the Paper Reduction Act (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.
FR Citation		83 FR 12760