83 FR 3145 - Agency Information Collection Activities; Announcement of Board Approval Under Delegated Authority and Submission to OMB

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 15 (January 23, 2018)

Page Range		3145-3146
FR Document		2018-01150

The Board of Governors of the Federal Reserve System (Board or Federal Reserve) is adopting a proposal to extend for three years, with revision, the following mandatory reports: (1) The Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies (FR Y-11; OMB No. 7100-0244), (2) the Abbreviated Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies (FR Y-11S; OMB No. 7100-0244), (3) the Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations (FR 2314; OMB No. 7100-0073), and (4) the Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations (FR 2314S; OMB No. 7100-0073).

Federal Register, Volume 83 Issue 15 (Tuesday, January 23, 2018)

[Federal Register Volume 83, Number 15 (Tuesday, January 23, 2018)]
[Notices]
[Pages 3145-3146]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-01150]


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

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 or 
Federal Reserve) is adopting a proposal to extend for three years, with 
revision, the following mandatory reports:
    (1) The Financial Statements of U.S. Nonbank Subsidiaries of U.S. 
Holding Companies (FR Y-11; OMB No. 7100-0244),
    (2) the Abbreviated Financial Statements of U.S. Nonbank 
Subsidiaries of U.S. Holding Companies (FR Y-11S; OMB No. 7100-0244),
    (3) the Financial Statements of Foreign Subsidiaries of U.S. 
Banking Organizations (FR 2314; OMB No. 7100-0073), and
    (4) the Abbreviated Financial Statements of Foreign Subsidiaries of 
U.S. Banking Organizations (FR 2314S; OMB No. 7100-0073).

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.

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 of 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 Paperwork Reduction Act 
Submission, supporting statements and approved collection of 
information instrument(s) are placed into OMB's 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 information collections:
    1. Report Title: Financial Statements of U.S. Nonbank Subsidiaries 
of U.S. Holding Companies and the Abbreviated Financial Statements of 
U.S. Nonbank Subsidiaries of U.S. Holding Companies.
    Agency Form Number: FR Y-11 and FR Y-11S.
    OMB Control Number: 7100-0244.
    Frequency: Quarterly and annually.
    Reporters: Holding companies.
    Estimated Number of Respondents: FR Y-11 (quarterly): 634; FR Y-11 
(annual): 230; FR Y-11S: 299.
    Estimated Average Hours per Response: FR Y-11 (quarterly): 6.8; FR 
Y-11 (annual): 6.8; FR Y-11S: 1.
    Estimated Annual Reporting Hours: FR Y-11 (quarterly): 17,244; FR 
Y-11 (annual): 1,564; FR Y-11S: 299.
    General Description of Information Collection: The FR Y-11 
reporting forms collect financial information for individual, non-
functionally regulated U.S. nonbank subsidiaries of domestic holding 
companies (i.e., bank holding companies, savings and loan holding 
companies, securities holding companies, and intermediate holding 
companies). Holding companies file the FR Y-11 on a quarterly or annual 
basis or the FR Y-11S on an annual basis, predominantly based on 
whether the organization meets certain asset size thresholds described 
in the instructions to the reports. The FR Y-11 data are used with 
other holding company data to assess the condition of holding companies 
that are heavily engaged in nonbanking activities and to monitor the 
volume, nature, and condition of their nonbanking operations.
    2. Report Title: Financial Statements of Foreign Subsidiaries of 
U.S. Banking Organizations and the Abbreviated Financial Statements of 
Foreign Subsidiaries of U.S. Banking Organizations.
    Agency Form Number: FR 2314 and FR 2314S.
    OMB Control Number: 7100-0073.
    Frequency: Quarterly and annually.

[[Page 3146]]

    Reporters: U.S. state member banks, holding companies, and Edge or 
agreement corporations.
    Estimated Annual Reporting Hours: FR 2314 (quarterly): 13,807; FR 
2314 (annual): 1,690; FR 2314S: 322.
    Estimated Average Hours per Response: FR 2314 (quarterly): 6.6; FR 
2314 (annual): 6.6; FR 2314S: 1.
    Number of Respondents: FR 2314 (quarterly): 523; FR 2314 (annual): 
256; FR 2314S: 322.
    General Description of Report: The FR 2314 reporting forms collect 
financial information for non-functionally regulated direct or indirect 
foreign subsidiaries of U.S. state member banks (SMBs), Edge and 
agreement corporations, and holding companies (i.e., bank holding 
companies, savings and loan holding companies, securities holding 
companies, and intermediate holding companies). Parent organizations 
(SMBs, Edge and agreement corporations, or holding companies) file the 
FR 2314 on a quarterly or annual basis, or the FR 2314S on an annual 
basis, predominantly based on whether the organization meets certain 
asset size thresholds described in the instructions to the reports. The 
FR 2314 data are used to identify current and potential problems at the 
foreign subsidiaries of U.S. parent companies, to monitor the 
activities of U.S. banking organizations in specific countries, and to 
develop a better understanding of activities within the industry, in 
general, and of individual institutions, in particular.
    Current Actions: On July 18, 2017, the Board published a notice in 
the Federal Register (82 FR 43367) requesting public comment on the 
extension for three years with revision of the FR Y-11, FR Y-11S, FR 
2314, and the FR 2314S. The Board proposed to revise the instructions 
for Schedule IS (and related line item captions on the reporting form) 
to remove the term ``extraordinary items'' and replace it with 
``discontinued operations,'' in accordance with revised accounting 
standards issued by the Financial Accounting Standards Board in ASU No. 
2015-01, ``Simplifying Income Statement Presentation by Eliminating the 
Concept of Extraordinary Items.'' In addition, the terms ``Loans net of 
unearned income'' and ``Loans held for investment'' are being used 
interchangeably throughout certain regulatory reports although both 
descriptions are intended to have the same reported amounts. Consistent 
with the Call Report, the Federal Reserve is revising the captions and 
instructions ``Loans net of unearned income'' and replace with ``Loans 
held for investment'' on all reports where applicable for clarity and 
internal consistency. The proposal was amended September 11, 2017, to 
extend the proposed implementation date from September 30, 2017, to 
March 31, 2018. The comment period expired on September 18, 2017, and 
no comments were received. The revisions will be implemented as 
proposed.
    Legal Authorization and Confidentiality: The Board has the 
authority to collect the information requested on the FR Y-11 series of 
reports and the FR 2314 series of reports from bank holding companies, 
savings and loan holding companies (SLHCs), securities holding 
companies, and intermediate holding companies (IHCs) under, 
respectively, section 5(c) of the Bank Holding Company Act (BHC Act), 
(12 U.S.C. 1844(c)) (BHCs and IHCs); the Homeowners' Loan Act, (12 
U.S.C. 1467a(b)(2)) (SLHCs); section 165 of the Dodd-Frank Act, (12 
U.S.C. 5365) (IHCs only); and section 618 of the Dodd-Frank Act, (12 
U.S.C. 850a) (securities holding companies). Collection of information 
from non-functionally regulated direct or indirect foreign subsidiaries 
of U.S. state member banks, Edge and agreement corporations filing the 
FR 2314 series of reports is authorized under sections 9(6), 25(7) and 
25A(17) of the Federal Reserve Act, (12 U.S.C. 324, 602, and 625), 
respectively. The Federal Reserve does not consider the data collected 
by the FR Y-11 series of reports or FR 2314 series of 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), (b)(8)). The applicability 
of these exemptions would be determined on a case-by-case basis.

    Board of Governors of the Federal Reserve System, January 18, 
2018.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2018-01150 Filed 1-22-18; 8:45 am]
 BILLING CODE 6210-01-P

3146 Federal Register / Vol. 83, No. 15 / Tuesday, January 23, 2018 / Notices

Reporters: U.S. state member banks, investment’’ on all reports where notices are set forth in paragraph 7 of
holding companies, and Edge or applicable for clarity and internal the Act (12 U.S.C. 1817(j)(7)).
agreement corporations. consistency. The proposal was amended The notices are available for
Estimated Annual Reporting Hours: September 11, 2017, to extend the immediate inspection at the Federal
FR 2314 (quarterly): 13,807; FR 2314 proposed implementation date from Reserve Bank indicated. The notices
(annual): 1,690; FR 2314S: 322. September 30, 2017, to March 31, 2018. also will be available for inspection at
Estimated Average Hours per The comment period expired on the offices of the Board of Governors.
Response: FR 2314 (quarterly): 6.6; FR September 18, 2017, and no comments Interested persons may express their
2314 (annual): 6.6; FR 2314S: 1. were received. The revisions will be views in writing to the Reserve Bank
Number of Respondents: FR 2314 implemented as proposed. indicated for that notice or to the offices
(quarterly): 523; FR 2314 (annual): 256; of the Board of Governors. Comments
Legal Authorization and
FR 2314S: 322. must be received not later than February
General Description of Report: The FR Confidentiality: The Board has the
authority to collect the information 12, 2018.
2314 reporting forms collect financial A. Federal Reserve Bank of Kansas
information for non-functionally requested on the FR Y–11 series of
reports and the FR 2314 series of reports City (Dennis Denney, Assistant Vice
regulated direct or indirect foreign President) 1 Memorial Drive, Kansas
subsidiaries of U.S. state member banks from bank holding companies, savings
and loan holding companies (SLHCs), City, Missouri 64198–0001:
(SMBs), Edge and agreement
securities holding companies, and 1. Guy L. Berry and William L. Berry,
corporations, and holding companies
intermediate holding companies (IHCs) both of Sapulpa, Oklahoma;
(i.e., bank holding companies, savings
under, respectively, section 5(c) of the individually, to retain voting shares of
and loan holding companies, securities
Bank Holding Company Act (BHC Act), American Bancorporation, Inc.,
holding companies, and intermediate
(12 U.S.C. 1844(c)) (BHCs and IHCs); the Sapulpa, Oklahoma, and thereby
holding companies). Parent
Homeowners’ Loan Act, (12 U.S.C. indirectly retain shares of American
organizations (SMBs, Edge and
1467a(b)(2)) (SLHCs); section 165 of the Heritage Bank, Sapulpa, Oklahoma.
agreement corporations, or holding
companies) file the FR 2314 on a Dodd-Frank Act, (12 U.S.C. 5365) (IHCs In addition, James A. Dilley Jr., Jarrett
quarterly or annual basis, or the FR only); and section 618 of the Dodd- Blake Dilley, Kaylee D. Berry, Hannah
2314S on an annual basis, Frank Act, (12 U.S.C. 850a) (securities D. Berry, Brooklyn B. Berry, and the Guy
predominantly based on whether the holding companies). Collection of L. Berry, Jr. Trust B–1, all of Sapulpa,
organization meets certain asset size information from non-functionally Oklahoma, to retain/acquire voting
thresholds described in the instructions regulated direct or indirect foreign shares and be approved as members of
to the reports. The FR 2314 data are subsidiaries of U.S. state member banks, the Berry Family Group which, acting in
used to identify current and potential Edge and agreement corporations filing concert, controls American
problems at the foreign subsidiaries of the FR 2314 series of reports is Bancorporation.
U.S. parent companies, to monitor the authorized under sections 9(6), 25(7) 2. Jeffrey Royal, Omaha, Nebraska; to
activities of U.S. banking organizations and 25A(17) of the Federal Reserve Act, retain voting shares of Tri Valley
in specific countries, and to develop a (12 U.S.C. 324, 602, and 625), Bancshares, Inc., and thereby retain
better understanding of activities within respectively. The Federal Reserve does voting shares of Tri Valley Bank, both of
the industry, in general, and of not consider the data collected by the Talmage, Nebraska.
individual institutions, in particular. FR Y–11 series of reports or FR 2314 Board of Governors of the Federal Reserve
Current Actions: On July 18, 2017, the series of reports to be confidential. System, January 18, 2018.
Board published a notice in the Federal However, a respondent may request Ann E. Misback,
Register (82 FR 43367) requesting confidential treatment pursuant to Secretary of the Board.
public comment on the extension for sections (b)(4), (b)(6), and (b)(8) of the [FR Doc. 2018–01133 Filed 1–22–18; 8:45 am]
three years with revision of the FR Y– Freedom of Information Act (5 U.S.C.
BILLING CODE P
11, FR Y–11S, FR 2314, and the FR 552(b)(4), (b)(6), (b)(8)). The
2314S. The Board proposed to revise the applicability of these exemptions would
instructions for Schedule IS (and related be determined on a case-by-case basis. FEDERAL RESERVE SYSTEM
line item captions on the reporting Board of Governors of the Federal Reserve
form) to remove the term ‘‘extraordinary System, January 18, 2018. Proposed Agency Information
items’’ and replace it with Margaret McCloskey Shanks, Collection Activities; Comment
‘‘discontinued operations,’’ in Deputy Secretary of the Board. Request
accordance with revised accounting
[FR Doc. 2018–01150 Filed 1–22–18; 8:45 am] AGENCY: Board of Governors of the
standards issued by the Financial
Accounting Standards Board in ASU BILLING CODE 6210–01–P Federal Reserve System.
No. 2015–01, ‘‘Simplifying Income ACTION: Notice, request for comment.
Statement Presentation by Eliminating FEDERAL RESERVE SYSTEM
the Concept of Extraordinary Items.’’ In SUMMARY: The Board of Governors of the
addition, the terms ‘‘Loans net of Federal Reserve System (Board) invites
Change in Bank Control Notices; comment on a proposal to extend for
unearned income’’ and ‘‘Loans held for Acquisitions of Shares of a Bank or
investment’’ are being used three years, with revision, the reports on
Bank Holding Company Margin Credit (FR G–1, FR G–2, FR G–
interchangeably throughout certain
sradovich on DSK3GMQ082PROD with NOTICES

regulatory reports although both The notificants listed below have 4; OMB No. 7100–0011. FR G–3; OMB
descriptions are intended to have the applied under the Change in Bank No. 7100–0018. FR T–4; OMB No. 7100–
same reported amounts. Consistent with Control Act (12 U.S.C. 1817(j)) and 0019. FR U–1; OMB No. 7100–0115).
the Call Report, the Federal Reserve is § 225.41 of the Board’s Regulation Y (12 DATES: Comments must be submitted on
revising the captions and instructions CFR 225.41) to acquire shares of a bank or before March 26, 2018.
‘‘Loans net of unearned income’’ and or bank holding company. The factors ADDRESSES: You may submit comments,
replace with ‘‘Loans held for that are considered in acting on the identified by FR G–1, FR G–2, FR G–3,

VerDate Sep<11>2014 17:59 Jan 22, 2018 Jkt 244001 PO 00000 Frm 00037 Fmt 4703 Sfmt 4703 E:\FR\FM\23JAN1.SGM 23JAN1

Document Created: 2018-01-23 01:08:46
Document Modified: 2018-01-23 01:08:46

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 43367) requesting public comment on the extension for three years with revision of the FR Y-11, FR Y-11S, FR 2314, and the FR 2314S. The Board proposed to revise the instructions for Schedule IS (and related line item captions on the reporting form) to remove the term ``extraordinary items'' and replace it with ``discontinued operations,'' in accordance with revised accounting standards issued by the Financial Accounting Standards Board in ASU No. 2015-01, ``Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.'' In addition, the terms ``Loans net of unearned income'' and ``Loans held for investment'' are being used interchangeably throughout certain regulatory reports although both descriptions are intended to have the same reported amounts. Consistent with the Call Report, the Federal Reserve is revising the captions and instructions ``Loans net of unearned income'' and replace with ``Loans held for investment'' on all reports where applicable for clarity and internal consistency. The proposal was amended September 11, 2017, to extend the proposed implementation date from September 30, 2017, to March 31, 2018. The comment period expired on September 18, 2017, and no comments were received. The revisions will be implemented as proposed.
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 3145