83 FR 2985 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
FEDERAL RESERVE SYSTEM Federal Register Volume 83, Issue 14 (January 22, 2018)
Federal Register Volume 83, Issue 14 (January 22, 2018)
| Page Range | 2985-2987 | |
| FR Document | 2018-01056 |
[Federal Register Volume 83, Number 14 (Monday, January 22, 2018)] [Notices] [Pages 2985-2987] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-01056] ----------------------------------------------------------------------- FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB AGENCY: Board of Governors of the Federal Reserve System. SUMMARY: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Consolidated Financial Statements for Holding Companies (FR Y-9C) (OMB No. 7100-0128), the Parent Company Only Financial Statements for Large Holding Companies (FR Y-9LP) (OMB No. 7100-0128), the Parent Company Only Financial Statements for Small Holding Companies FR Y-9SP) (OMB No. 7100-0128), the Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (FR Y-7N) (OMB No. 7100-0125), and the Consolidated Report of Condition and Income for Edge and Agreement Corporations (FR 2886b) (OMB No. 7100-0086), and to extend, without revision, the Financial Statements for Employee Stock Ownership Plan Holding Companies (FR Y-9ES) (OMB No. 7100-0128) the Supplement to the Consolidated Financial Statements for Holding Companies (FR Y-9CS) (OMB No. 7100-0086), the Abbreviated Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (FR Y-7NS) (OMB No. 7100-0125); and the Capital and Asset Report for Foreign Banking Organizations (FR Y-7Q) (OMB No. 7100-0125). FOR FURTHER INFORMATION CONTACT: 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. 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. 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. Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the PRA submission, supporting statements, and approved collection of information instrument(s) are placed into OMB's [[Page 2986]] 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. Final Approval Under OMB Delegated Authority of the Extension for Three Years, With Revision, of the Following Reports 1. Report title: Consolidated Financial Statements for Holding Companies, Parent Company Only Financial Statements for Large Holding Companies, Parent Company Only Financial Statements for Small Holding Companies, Financial Statement for Employee Stock Ownership Plan Holding Companies, and the Supplemental to the Consolidated Financial Statements for Holding Companies. Agency form number: FR Y-9C, FR Y-9LP, FR Y-9SP, FR Y-9ES, and FR Y-9CS. OMB control number: 7100-0128. Frequency: Quarterly and semiannually. Reporters: Bank holding companies, savings and loan holding companies, securities holding companies, and U.S. Intermediate Holding Companies (collectively, holding companies (HCs)). Estimated annual reporting hours: FR Y-9C (non advanced approaches HCs): 123,636 hours; FR Y-9C (advanced approached HCs): 3,628 hours; FR Y-9LP: 16,400 hours; FR Y-9SP: 42,811; FR Y-9ES: 42 hours; FR Y-9CS: 472 hours. Estimated average hours per response: FR Y-9C (non-advanced approaches HCs): 49.14 hours; FR Y-9C (advanced approached HCs): 50.39 hours; FR Y-9LP: 5.27 hours; FR Y-9SP: 5.40 hours FR Y-9ES: 0.50 hours; FR Y-9CS: 0.50 hours. Number of respondents: FR Y-9C (non-advanced approaches holding companies): 629; FR Y-9C (advanced approached holding companies): 18; FR Y-9LP: 778; FR Y-9SP: 3,964 FR Y-9ES: 83; FR Y-9CS: 236. General description of report: Pursuant to the Bank Holding Company Act of 1956 (BHC Act), as amended, and the Home Owners' Loan Act (HOLA), the Federal Reserve requires HCs to provide standardized financial statements to fulfill the Federal Reserve's statutory obligation to supervise these organizations. HCs file the FRY-9C and FR Y-9LP quarterly, the FR Y-9SP semiannually, the FR Y-9ES annually, and the FR Y-9CS on a schedule that is determined when this supplement is used. Proposed revisions: The Federal Reserve is implementing a number of revisions to the FR Y-9C reporting requirements, most of which are consistent with recent changes to the Federal Financial Institutions Examination Council (FFIEC) Consolidated Reports of Condition and Income (Call Reports) (FFIEC 031 & 041; OMB No. 7100-0036).\1\ Additionally, the Federal Reserve will eliminate the concept of extraordinary items on various reports, add one new item to the FR Y- 9SP report, and revise the instructions to clarify the reporting of certain tax benefits on various reports. These changes would be effective for reports reflecting the March 31, 2018, report date. The changes include: --------------------------------------------------------------------------- \1\ The reporting changes to the FFIEC 031 and FFIEC 041 became effective March 31, 2017. See 82 Fed. Reg. 2444 (January 9, 2017). Certain data items deleted on the FFIEC 031 and FFIEC 041 do not correspond to any FR Y-9C data items. Also, certain data items that were deleted from the FFIEC 041 report because the data is predominantly reported by banks with foreign offices (FFIEC 031) remain on the FR Y-9C because no distinction is made for reporting of HCs with foreign offices versus those without foreign offices. ---------------------------------------------------------------------------Deleting existing data items from Schedule HI-B, Part I, Charge-Offs and Recoveries on Loans and Leases and Changes in Allowance for Loans and Lease Losses, of the FR Y-9C report that pertain to charge-offs and recoveries on loans to U.S banks and foreign banks. Deleting existing data items from Schedule HC-M, Memoranda, and Schedule HC-N, Past Due and Nonaccrual Loans, and Leases and Other Assets of the FR Y-9C that pertain to certain loans covered by loss-sharing agreements with the FDIC. Increasing one reporting threshold and adding one new reporting threshold on the FR Y-9C for certain data items on Schedule HI, Consolidated Income Statement. Eliminating extraordinary items on the FR Y-9LP. Revising data items for the reclassification of certain tax benefits on the FR Y-9C and FR Y-9LP. Adding one new data item to Schedule SI of the FR Y-9SP to collect information pertaining to discontinued operations. Revising one control total and adding two control totals on Schedule HC-C and HC-N of the FR Y-9C report. Revising captions and instructions to replace ``Loans net of unearned income'' with ``Loans held for investment'' for the FR Y- 9C, FR Y-9LP, FR Y-9SP, FR Y-7N and the FR 2886b. Legal authorization and confidentiality: The FR Y-9 family of reports is authorized by section 5(c) of the BHC Act (12 U.S.C. 1844(c)), section 10 of HOLA (12 U.S.C. 1467a(b)), sections 165 and 618 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 1850a(c)(1) and 5365), and section 252.153(b)(2) of Regulation YY (12 CFR 252.153(b)(2)). These reports are mandatory. In general, the Board does not consider the financial data in these reports to be confidential. However, a respondent may request confidential treatment pursuant to sections (b)(4), (b)(6), and (b)(8) of the Freedom of Information Act (5 U.S.C. 552(b)(4), (b)(6), and (b)(8)). The applicability of these exemptions would be reviewed on a case-by-case basis. Effective Date: March 31, 2018. 2. Report title: The Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations, Abbreviated Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations, and the Capital and Asset Report of Foreign Banking Organizations. Agency form number: FR Y-7N, FR Y-7NS, and FR Y-7Q. OMB control number: 7100-0125. Frequency: Quarterly and annually. Reporters: Foreign bank organizations. Estimated annual reporting hours: FR Y-7N (quarterly): 1,360; FR Y- 7N (annual): 313; FR Y-7NS: 66; FR Y-7Q (quarterly): 1,644; FR Y-7Q (annual): 48. Estimated average hours per response: FR Y-7N (quarterly): 6.8; FR Y-7N (annual): 6.8; FR Y-7NS: 1.0 FR Y-7Q (quarterly): 3.00; FR Y-7Q (annual): 1.5. Number of respondents: FR Y-7N (annual): 50; FR Y-7N (annual): 46; FR Y-7NS: 66 FR Y-7Q (quarterly): 137; FR Y-7Q (annual): 32. General description of report: The FR Y-7N and FR Y-7NS collect financial information for non-functionally regulated U.S. nonbank subsidiaries held by foreign banking organizations (FBOs) other than through a (BHC), (IHC) or U.S. bank. FBOs file the FR Y-7N quarterly or annually or the FR Y-7NS annually predominantly based on asset size thresholds. The FR Y-7Q collects consolidated regulatory capital information from all FBOs either quarterly or annually. The FR Y-7Q is filed quarterly by FBOs that have effectively elected to become U.S. FHCs and by FBOs that have total consolidated assets of $50 billion or more, regardless of FHC status. All other FBOs file the FR Y-7Q annually. Proposed revisions: The Federal Reserve proposes to revise the report [[Page 2987]] form and instructions for the FR Y-7N to eliminate the concept of extraordinary items to be consistent with Accounting Standards Update (ASU) 2015-01, reclassify and clarify the reporting for certain tax benefits, and replace report form captions and instructions referencing ``Loans net of unearned income'' with ``Loans held for investment.'' Effective Date: March 31, 2018. Legal authorization and confidentiality: The FR Y-7N, FR Y-7NS, and FR Y-7Q are authorized by section 5(c) of the Bank Holding Company Act (12 U.S.C. 1844(c)) and sections 8(c) and 13 of the International Banking Act (12 U.S.C. 3106(c) and 3108). Section 165 of the Dodd-Frank Act (12 U.S.C. 5365) directs the Board to establish enhanced prudential standards for certain companies, including certain FBOs. The obligation of covered institutions to report this information is mandatory. Information disclosed in these reports is collected as part of the Board's supervisory process and may be accorded confidential treatment under exemption 8 of the Freedom of Information Act (FOIA) (5 U.S.C. 552(b)(8)), but information that is required to be disclosed publicly is generally not considered confidential. However, individual respondents may request that certain data be protected pursuant to Exemptions 4 and 6 (5 U.S.C. 552(b)(4) and (6)) of FOIA, where such data relates to trade secrets and financial information, or to personal information, respectively. The applicability of these exemptions would have to be determined on a case-by-case basis. 3. Report title: Consolidated Report of Condition and Income for Edge and Agreement Corporations. Agency form number: FR 2886b. OMB control number: 7100-0086. Frequency: Quarterly. Reporters: Banking Edge and agreement corporations and investment (nonbanking) Edge and agreement corporations. Estimated annual reporting hours: Banking: Edge and agreement corporations (quarterly): 424; Banking: Edge and agreement corporations (annually): 15; Investment: Edge and agreement corporations (quarterly): 922; Investment: Edge and agreement corporations (annually): 86. Estimated average hours per response: Banking: Edge and agreement corporations (quarterly): 15.15; Banking: Edge and agreement corporations (annually): 15.15; Investment: Edge and agreement corporations (quarterly): 9.6; Investment: Edge and agreement corporations (annually): 9.6. Number of respondents: Banking: Edge and agreement corporations (quarterly): 7; Banking: Edge and agreement corporations (annually): 1; Investment: Edge and agreement corporations (quarterly): 24; Investment: Edge and agreement corporations (annually): 9. General description of report: The FR 2886b reporting form is filed quarterly and annually by banking Edge and agreement corporations and investment (nonbanking) Edge and agreement corporations (collectively, ``Edges or Edge corporations''). The mandatory FR 2886b comprises an income statement with two schedules reconciling changes in capital and reserve accounts and a balance sheet with 11 supporting schedules. Other than examination reports, it provides the only financial data available for these corporations. The Federal Reserve is solely responsible for authorizing, supervising, and assigning ratings to Edges. The Federal Reserve uses the data collected on the FR 2886b to identify present and potential problems and monitor and develop a better understanding of activities within the industry. Proposed revisions: The Federal Reserve proposes to revise the report form and instructions to eliminate the concept of extraordinary items to be consistent with Accounting Standards Update (ASU) 2015-01, reclassify and clarify the reporting for certain tax benefits in the reporting instructions, and replace report form captions and instructions referencing ``Loans net of unearned income'' with ``Loans held for investment.'' These changes would be effective for reports reflecting the March 31, 2018, report date. Effective Date: March 31, 2018. Legal authorization and confidentiality: Sections 25 and 25A of the Federal Reserve Act authorize the Federal Reserve to collect the FR 2886b (12 U.S.C. 602, 625). The obligation to report this information is mandatory. The information collected on the FR 2886b is generally not considered confidential, but certain data may be exempt from disclosure pursuant to exemption (b)(4) and (b)(7)(C) of the Freedom of Information Act, (5 U.S.C. 552(b)(4) and (b)(7)(C)). The information exempt from disclosure pursuant to (b)(4) consists of information provided on Schedule RC-M (with the exception for item 3) and on Schedule RC-V, both of which pertain to claims on and liabilities to related organizations. The information exempt from disclosure pursuant to exemption (b)(7)(C) is information provided in the Patriot Act Contact Information section of the reporting form. Current actions: On July 18, 2017, the Board published a notice in the Federal Register (82 FR 32812) requesting public comment for 60 days on the proposal to extend with revision the FR Y-9C, FR Y-9LP, FR Y-7N, and FR 2886b; and to extend without revision the FR Y-9ES, FR Y- 9CS, FR Y-7NS, and FR Y-7Q. The comment period expired on September 18, 2017. The Board received one comment from a banking association that, while expressing support for the FR Y-9C proposed changes, urged the Board to have the FR Y-9C revisions incorporated into the March 31, 2018, report date (rather than the September 30, 2017, report date) to harmonize the proposed changes with the proposed changes to the Call Reports. The Board has approved, pursuant to authority delegated by the OMB, the collections of information as proposed and amended (as discussed below). Detailed Discussion of Public Comments: In response to the commenter's suggestion, the Board amended the proposal on September 11, 2017 (82 FR 43367), to make the proposed changes to the FR Y-9C family of reports, the FR Y-7N family of reports, and the FR 2886b report effective with the reports reflecting the March 31, 2018, report date. This effective date should give institutions ample time to prepare for the revisions and would minimize burden by allowing institutions to prepare their systems once for these changes and any future burden- reducing changes targeted for that report date. The comment period for the proposal expired on September 18, 2017. The Board did not receive any additional comments. The revisions will be implemented as proposed and amended on September 11, 2017. Board of Governors of the Federal Reserve System, January 17, 2018. Ann E. Misback, Secretary of the Board. [FR Doc. 2018-01056 Filed 1-19-18; 8:45 am] BILLING CODE 6210-01-P
![Federal Register / Vol. 83, No. 14 / Monday, January 22, 2018 / Notices 2985
July 2018 submission date for the information regarding assets, liabilities, SUMMARY: The Board of Governors of the
resolution plans of the complex, capital and major funding sources; (iv) Federal Reserve System (Board) is
domestic filers, which account for the a description of derivative activities and adopting a proposal to extend for three
largest percentage of overall burden hedging activities; (v) a list of years, with revision, the Consolidated
hours. memberships in material payment, Financial Statements for Holding
Legal authorization and clearing, and settlement systems; (vi) a Companies (FR Y–9C) (OMB No. 7100–
confidentiality: This information description of foreign operations; (vii) 0128), the Parent Company Only
collection is mandatory pursuant to the identities of material supervisory Financial Statements for Large Holding
section 165(d)(8) of the Dodd-Frank Act authorities; (viii) the identities of the Companies (FR Y–9LP) (OMB No. 7100–
(Pub. L. 111–203, 124 Stat. 1376, 1426– principal officers; (ix) a description of 0128), the Parent Company Only
1427), 12 U.S.C. 5365(d)(8), which the corporate governance structure and Financial Statements for Small Holding
requires the Board and the FDIC to processes related to resolution planning; Companies FR Y–9SP) (OMB No. 7100–
jointly issue rules implementing the (x) a description of material 0128), the Financial Statements of U.S.
provisions of section 165(d) of the management information systems; and Nonbank Subsidiaries Held by Foreign
Dodd-Frank Act. The Board’s Legal (xi) a description, at a high level, of the Banking Organizations (FR Y–7N) (OMB
Division has determined that under covered company’s resolution strategy, No. 7100–0125), and the Consolidated
section 112(d)(5)(A) of the Dodd-Frank covering such items as the range of Report of Condition and Income for
Act, the Board and the FDIC ‘‘shall potential purchasers of the covered Edge and Agreement Corporations (FR
maintain the confidentiality of any data, company, its material entities and core 2886b) (OMB No. 7100–0086), and to
information, and reports submitted business lines. extend, without revision, the Financial
under’’ Title I (which includes section While the information in the public Statements for Employee Stock
165(d), the authority this regulation is section of a resolution plan should be Ownership Plan Holding Companies
promulgated under) of the Dodd-Frank sufficiently detailed to allow the public (FR Y–9ES) (OMB No. 7100–0128) the
Act. to understand the business of the Supplement to the Consolidated
The Board and the FDIC will assess covered company, such information can Financial Statements for Holding
the confidentiality of resolution plans be high level in nature and based on Companies (FR Y–9CS) (OMB No. 7100–
and related material in accordance with publicly available information. The 0086), the Abbreviated Financial
FOIA and the Board’s and the FDIC’s public section will be made available to Statements of U.S. Nonbank
implementing regulations (12 CFR part the public exactly as submitted by the Subsidiaries Held by Foreign Banking
261 (Board); 12 CFR part 309 (FDIC)). covered companies as soon as possible Organizations (FR Y–7NS) (OMB No.
The Board and the FDIC expect that following receipt by the agencies. A 7100–0125); and the Capital and Asset
large portions of the submissions will covered company should submit a Report for Foreign Banking
contain or consist of ‘‘trade secrets and properly substantiated request for Organizations (FR Y–7Q) (OMB No.
commercial or financial information confidential treatment of any details in 7100–0125).
obtained from a person and privileged the confidential section that it believes FOR FURTHER INFORMATION CONTACT:
or confidential’’ and information that is are subject to withholding under Federal Reserve Board Clearance
‘‘contained in or related to examination, exemption 4 of the FOIA. In addition, Officer—Nuha Elmaghrabi—Office of
operating, or condition reports prepared the Board and the FDIC will make the Chief Data Officer, Board of
by, on behalf of, or for the use of an formal exemption and segregability Governors of the Federal Reserve
agency responsible for the regulation or determinations if and when a plan is System, Washington, DC 20551, (202)
supervision of financial institutions.’’ requested under the FOIA. 452–3829. Telecommunications Device
This information is subject to for the Deaf (TDD) users may contact
Consultation outside the agency: The
withholding under exemptions 4 and 8 (202) 263–4869, Board of Governors of
Board consulted with FDIC staff
of the FOIA, 5 U.S.C. 552(b)(4) and the Federal Reserve System,
regarding the revised burden estimate.
552(b)(8).4 The Board and the FDIC also Washington, DC 20551.
In addition, to inform the Board’s
recognize, however, that the regulation OMB Desk Officer—Shagufta
estimates, Board staff sought
calls for the submission of details Ahmed—Office of Information and
information from all respondents
regarding covered companies that are Regulatory Affairs, Office of
concerning each respondent’s estimate
publicly available or otherwise are not Management and Budget, New
of the burden associated with this
sensitive and should be made public. In Executive Office Building, Room 10235,
collection. A total of 33 respondents
order to address this, the regulation 725 17th Street NW, Washington, DC
provided burden information.
requires resolution plans to be divided 20503 or by fax to (202) 395–6974.
into two portions: a public section and Board of Governors of the Federal Reserve
System, January 17, 2018. SUPPLEMENTARY INFORMATION: On June
a confidential section.
In addition to any responses to Ann E. Misback, 15, 1984, the Office of Management and
guidance from the Agencies, the public Budget (OMB) delegated to the Board
Secretary of the Board.
section of the resolution plan should authority under the Paperwork
[FR Doc. 2018–01046 Filed 1–19–18; 8:45 am]
consist of an executive summary of the Reduction Act (PRA) to approve and
BILLING CODE 6210–01–P
resolution plan that describes the assign OMB control numbers to
business of the covered company and collection of information requests and
includes, to the extent material to an requirements conducted or sponsored
FEDERAL RESERVE SYSTEM
by the Board. Board-approved
ethrower on DSK3G9T082PROD with NOTICES
understanding of the covered company:
(i) The names of material entities; (ii) a Agency Information Collection collections of information are
description of core business lines; (iii) Activities: Announcement of Board incorporated into the official OMB
consolidated or segment financial Approval Under Delegated Authority inventory of currently approved
and Submission to OMB collections of information. Copies of the
4 Depending upon the circumstances of any PRA submission, supporting statements,
specific FOIA request, other exemptions may also AGENCY: Board of Governors of the and approved collection of information
apply. Federal Reserve System. instrument(s) are placed into OMB’s
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![Federal Register / Vol. 83, No. 14 / Monday, January 22, 2018 / Notices 2987
form and instructions for the FR Y–7N Number of respondents: Banking: Current actions: On July 18, 2017, the
to eliminate the concept of Edge and agreement corporations Board published a notice in the Federal
extraordinary items to be consistent (quarterly): 7; Banking: Edge and Register (82 FR 32812) requesting
with Accounting Standards Update agreement corporations (annually): 1; public comment for 60 days on the
(ASU) 2015–01, reclassify and clarify Investment: Edge and agreement proposal to extend with revision the FR
the reporting for certain tax benefits, corporations (quarterly): 24; Investment: Y–9C, FR Y–9LP, FR Y–7N, and FR
and replace report form captions and Edge and agreement corporations 2886b; and to extend without revision
instructions referencing ‘‘Loans net of (annually): 9. the FR Y–9ES, FR Y–9CS, FR Y–7NS,
unearned income’’ with ‘‘Loans held for General description of report: The FR and FR Y–7Q. The comment period
investment.’’ 2886b reporting form is filed quarterly expired on September 18, 2017. The
Effective Date: March 31, 2018. and annually by banking Edge and Board received one comment from a
Legal authorization and agreement corporations and investment banking association that, while
confidentiality: The FR Y–7N, FR Y– (nonbanking) Edge and agreement expressing support for the FR Y–9C
7NS, and FR Y–7Q are authorized by corporations (collectively, ‘‘Edges or proposed changes, urged the Board to
section 5(c) of the Bank Holding Edge corporations’’). The mandatory FR have the FR Y–9C revisions
Company Act (12 U.S.C. 1844(c)) and 2886b comprises an income statement incorporated into the March 31, 2018,
sections 8(c) and 13 of the International with two schedules reconciling changes report date (rather than the September
Banking Act (12 U.S.C. 3106(c) and in capital and reserve accounts and a 30, 2017, report date) to harmonize the
3108). Section 165 of the Dodd-Frank balance sheet with 11 supporting proposed changes with the proposed
Act (12 U.S.C. 5365) directs the Board schedules. Other than examination changes to the Call Reports. The Board
to establish enhanced prudential reports, it provides the only financial has approved, pursuant to authority
standards for certain companies, data available for these corporations. delegated by the OMB, the collections of
including certain FBOs. The obligation The Federal Reserve is solely information as proposed and amended
of covered institutions to report this responsible for authorizing, supervising, (as discussed below).
information is mandatory. Information and assigning ratings to Edges. The Detailed Discussion of Public
disclosed in these reports is collected as Federal Reserve uses the data collected Comments: In response to the
part of the Board’s supervisory process on the FR 2886b to identify present and commenter’s suggestion, the Board
and may be accorded confidential potential problems and monitor and amended the proposal on September 11,
treatment under exemption 8 of the develop a better understanding of 2017 (82 FR 43367), to make the
Freedom of Information Act (FOIA) (5 activities within the industry. proposed changes to the FR Y–9C family
U.S.C. 552(b)(8)), but information that is Proposed revisions: The Federal of reports, the FR Y–7N family of
required to be disclosed publicly is Reserve proposes to revise the report reports, and the FR 2886b report
generally not considered confidential. form and instructions to eliminate the effective with the reports reflecting the
However, individual respondents may concept of extraordinary items to be March 31, 2018, report date. This
request that certain data be protected consistent with Accounting Standards effective date should give institutions
pursuant to Exemptions 4 and 6 (5 Update (ASU) 2015–01, reclassify and ample time to prepare for the revisions
U.S.C. 552(b)(4) and (6)) of FOIA, where clarify the reporting for certain tax and would minimize burden by
such data relates to trade secrets and benefits in the reporting instructions, allowing institutions to prepare their
financial information, or to personal and replace report form captions and systems once for these changes and any
information, respectively. The instructions referencing ‘‘Loans net of future burden-reducing changes targeted
applicability of these exemptions would unearned income’’ with ‘‘Loans held for for that report date. The comment
have to be determined on a case-by-case investment.’’ These changes would be period for the proposal expired on
basis. effective for reports reflecting the March September 18, 2017. The Board did not
3. Report title: Consolidated Report of 31, 2018, report date. receive any additional comments. The
Condition and Income for Edge and Effective Date: March 31, 2018. revisions will be implemented as
Agreement Corporations. Legal authorization and proposed and amended on September
Agency form number: FR 2886b. confidentiality: Sections 25 and 25A of 11, 2017.
OMB control number: 7100–0086. the Federal Reserve Act authorize the
Federal Reserve to collect the FR 2886b Board of Governors of the Federal Reserve
Frequency: Quarterly. System, January 17, 2018.
Reporters: Banking Edge and (12 U.S.C. 602, 625). The obligation to
report this information is mandatory. Ann E. Misback,
agreement corporations and investment
The information collected on the FR Secretary of the Board.
(nonbanking) Edge and agreement
corporations. 2886b is generally not considered [FR Doc. 2018–01056 Filed 1–19–18; 8:45 am]
Estimated annual reporting hours: confidential, but certain data may be BILLING CODE 6210–01–P
Banking: Edge and agreement exempt from disclosure pursuant to
corporations (quarterly): 424; Banking: exemption (b)(4) and (b)(7)(C) of the
Edge and agreement corporations Freedom of Information Act, (5 U.S.C. FEDERAL RESERVE SYSTEM
(annually): 15; Investment: Edge and 552(b)(4) and (b)(7)(C)). The information
Formations of, Acquisitions by, and
agreement corporations (quarterly): 922; exempt from disclosure pursuant to
Mergers of Savings and Loan Holding
Investment: Edge and agreement (b)(4) consists of information provided
Companies
corporations (annually): 86. on Schedule RC–M (with the exception
Estimated average hours per response: for item 3) and on Schedule RC–V, both The companies listed in this notice
ethrower on DSK3G9T082PROD with NOTICES
Banking: Edge and agreement of which pertain to claims on and have applied to the Board for approval,
corporations (quarterly): 15.15; Banking: liabilities to related organizations. The pursuant to the Home Owners’ Loan Act
Edge and agreement corporations information exempt from disclosure (12 U.S.C. 1461 et seq.) (HOLA),
(annually): 15.15; Investment: Edge and pursuant to exemption (b)(7)(C) is Regulation LL (12 CFR part 238), and
agreement corporations (quarterly): 9.6; information provided in the Patriot Act Regulation MM (12 CFR part 239), and
Investment: Edge and agreement Contact Information section of the all other applicable statutes and
corporations (annually): 9.6. reporting form. regulations to become a savings and
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Document Created: 2018-01-23 21:36:00
Document Modified: 2018-01-23 21:36:00
| 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 | On July 18, 2017, the Board published a notice in the Federal Register (82 FR 32812) requesting public comment for 60 days on the proposal to extend with revision the FR Y-9C, FR Y-9LP, FR Y-7N, and FR 2886b; and to extend without revision the FR Y-9ES, FR Y- 9CS, FR Y-7NS, and FR Y-7Q. The comment period expired on September 18, 2017. The Board received one comment from a banking association that, while expressing support for the FR Y-9C proposed changes, urged the Board to have the FR Y-9C revisions incorporated into the March 31, 2018, report date (rather than the September 30, 2017, report date) to harmonize the proposed changes with the proposed changes to the Call Reports. The Board has approved, pursuant to authority delegated by the OMB, the collections of information as proposed and amended (as discussed below). | |
| Dates | March 31, 2018. | |
| Contact | 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. | |
| FR Citation | 83 FR 2985 |
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