83 FR 34579 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 140 (July 20, 2018)

Page Range		34579-34580
FR Document		2018-15519

The Board of Governors of the Federal Reserve System (Board) is adopting 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).

Federal Register, Volume 83 Issue 140 (Friday, July 20, 2018)

[Federal Register Volume 83, Number 140 (Friday, July 20, 2018)]
[Notices]
[Pages 34579-34580]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-15519]


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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.

ACTION: Notice.

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

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting 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).

DATES: The revisions are applicable as of July 31, 2018.

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 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 Board 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 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

[[Page 34580]]

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 and the proposed office, and it must invite the 
public to submit written comments to the appropriate Reserve Bank.
    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.
    Current actions: On March 23, 2018, the Board published a notice in 
the Federal Register (83 FR 12760) requesting public comment for 60 
days on the extension, with revision, of the FR K-2. The Board proposed 
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. The 
comment period for this notice expired on May 22, 2018. The Board did 
not receive any comments. Accordingly, the revisions will be 
implemented as proposed.

    Board of Governors of the Federal Reserve System, July 17, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-15519 Filed 7-19-18; 8:45 am]
 BILLING CODE 6210-01-P

Federal Register / Vol. 83, No. 140 / Friday, July 20, 2018 / Notices 34579

collections of information. Copies of the 4(c)(14), and 5(c) of the Bank Holding adopting a proposal to extend for three
Paperwork Reduction Act Submission, Company Act (12 U.S.C. 1843(c)(13), years, with revision, the International
supporting statements and approved 1843(c)(14), 1844(c)). The information Applications and Prior Notifications
collection of information instrument(s) submitted in the FR K–1 is considered Under Subpart B of Regulation K (FR K–
are placed into OMB’s public docket to be public unless an institution 2; OMB No. 7100–0284).
files. The Board may not conduct or requests confidential treatment for DATES: The revisions are applicable as of
sponsor, and the respondent is not portions of the particular application or July 31, 2018.
required to respond to, an information notification. Applicants may rely on any FOR FURTHER INFORMATION CONTACT:
collection that has been extended, Freedom of Information Act (FOIA) Federal Reserve Board Clearance
revised, or implemented on or after exemption, but such requests for Officer—Nuha Elmaghrabi—Office of
October 1, 1995, unless it displays a confidentiality must contain detailed the Chief Data Officer, Board of
currently valid OMB control number. justifications corresponding to the
Governors of the Federal Reserve
claimed FOIA exemption. Any requests
Final Approval Under OMB Delegated System, Washington, DC 20551 (202)
for confidentiality will be evaluated on
Authority of the Extension for Three 452–3829. Telecommunications Device
a case-by-case basis.
Years, With Revision, of the Following Effective date: July 31, 2018. for the Deaf (TDD) users may contact
Report Current actions: On March 23, 2018, (202) 263–4869, Board of Governors of
the Board published a notice in the the Federal Reserve System,
Report title: International
Federal Register (83 FR 12761) Washington, DC 20551.
Applications and Prior Notifications
requesting public comment for 60 days OMB Desk Officer—Shagufta
under Subparts A and C of Regulation
on the extension, with revision, of the Ahmed—Office of Information and
K.
Agency form number: FR K–1. FR K–1. The Board proposed to revise Regulatory Affairs, Office of
OMB control number: 7100–0107. the FR K–1 form and instructions Management and Budget, New
Frequency: On occasion. primarily to make minor changes for Executive Office Building, Room 10235,
Respondents: Member banks, Edge improved style, grammar, and clarity, 725 17th Street NW, Washington, DC
and agreement corporations, bank and to align the general information, 20503 or by fax to (202) 395–6974.
holding companies (BHCs), and foreign certification, and confidentiality SUPPLEMENTARY INFORMATION: On June
organizations. sections with other similar forms.1 In 15, 1984, the Office of Management and
Estimated number of respondents: addition, a statement has been added Budget (OMB) delegated to the Board
Attachments A and B, 5; Attachments C indicating that the Board prefers that authority under the Paperwork
through G, 15; Attachments H and I, 12; applicants/notificants electronically Reduction Act (PRA) to approve of and
Attachment J, 2; Attachment K, 1. submit the application/notification and assign OMB control numbers to
Estimated average hours per response: that a pre-filing option is available. No collection of information requests and
Attachments A and B, 11.5 hours; changes have been made to the requirements conducted or sponsored
Attachments C through G, 10 hours; information required in the various by the Board. Board-approved
Attachments H and I, 15.5 hours; attachments to the FR K–1 form. The collections of information are
Attachment J, 10 hours; Attachment K, comment period for this notice expired incorporated into the official OMB
20 hours. on May 22, 2018. The Board did not inventory of currently approved
Estimated annual burden hours: 1,013 receive any comments. Accordingly, the collections of information. Copies of the
hours. revisions will be implemented as Paperwork Reduction Act Submission,
General description of collection: proposed. supporting statements and approved
Subpart A of the Board’s Regulation K collection of information instrument(s)
Board of Governors of the Federal Reserve
governs the foreign investments and System, July 17, 2018. are placed into OMB’s public docket
activities of member banks, Edge and Michele Taylor Fennell, files. The Board may not conduct or
agreement corporations, BHCs, and sponsor, and the respondent is not
Assistant Secretary of the Board.
certain investments by foreign required to respond to, an information
[FR Doc. 2018–15518 Filed 7–19–18; 8:45 am]
organizations. Subpart C of Regulation K collection that has been extended,
BILLING CODE 6210–01–P
governs investments in export trading revised, or implemented on or after
companies. The FR K–1 information October 1, 1995, unless it displays a
collection contains eleven attachments currently valid OMB control number.
FEDERAL RESERVE SYSTEM
for the application and notification
requirements embodied in Subparts A Final Approval Under OMB Delegated
Agency Information Collection Authority of the Extension for Three
and C of Regulation K. The Board Activities: Announcement of Board
requires these applications for Years, With Revision, of the Following
Approval Under Delegated Authority Report
regulatory and supervisory purposes and Submission to OMB
and to allow the Board to fulfill its Report title: International
statutory obligations under the Federal AGENCY: Board of Governors of the Applications and Prior Notifications
Reserve Act and the Bank Holding Federal Reserve System. Under Subpart B of Regulation K.
Company Act of 1956. The applications ACTION: Notice. Agency form number: FR K–2.
are event-generated and provide the OMB control number: 7100–0284.
SUMMARY: The Board of Governors of the
Federal Reserve with information Frequency: On occasion.
Federal Reserve System (Board) is
necessary to evaluate each of the Respondents: Foreign banks.
daltland on DSKBBV9HB2PROD with NOTICES

proposed transactions. 1 Bank Holding Company Application and
Estimated number of respondents: 14.
Legal authorization and Notification Forms (FR Y–3, FR Y–3N, and FR Y– Estimated average hours per response:
confidentiality: This information 4; OMB No. 7100–0121), the International 36 hours.
collection is mandatory and collected Applications and Prior Notifications Under Subpart Estimated annual burden hours: 504
B of Regulation K (FR K–2; OMB No. 7100–0284),
pursuant to sections 25 and 25A of the and the Application for a Foreign Organization to
hours.
Federal Reserve Act (12 U.S.C. 601– Acquire a U.S. Bank or Bank Holding Company (FR General description of collection:
604(a), 611–631), and sections 4(c)(13), Y–3F; OMB No. 7100–0119). Foreign banks are required to obtain the

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34580 Federal Register / Vol. 83, No. 140 / Friday, July 20, 2018 / Notices

prior approval of the Federal Reserve to on May 22, 2018. The Board did not collection of information requests and
establish a branch, agency, or receive any comments. Accordingly, the requirements conducted or sponsored
representative office in the United revisions will be implemented as by the Board. Board-approved
States; to acquire ownership or control proposed. collections of information are
of a commercial lending company in the Board of Governors of the Federal Reserve incorporated into the official OMB
United States; or to change the status of System, July 17, 2018. inventory of currently approved
any existing office in the United States. Michele Taylor Fennell, collections of information. Copies of the
The FR K–2 information collection Paperwork Reduction Act Submission,
Assistant Secretary of the Board.
contains five attachments for the supporting statements and approved
[FR Doc. 2018–15519 Filed 7–19–18; 8:45 am]
application and notification collection of information instrument(s)
BILLING CODE 6210–01–P
requirements embodied in subpart B of are placed into OMB’s public docket
Regulation K. The Federal Reserve uses files. The Board may not conduct or
the information to fulfill its statutory sponsor, and the respondent is not
obligations under the International FEDERAL RESERVE SYSTEM
required to respond to, an information
Banking Act. Agency Information Collection collection that has been extended,
The applicant also is required to revised, or implemented on or after
Activities: Announcement of Board
publish a notice in a newspaper of October 1, 1995, unless it displays a
Approval Under Delegated Authority
general circulation in the community currently valid OMB control number.
and Submission to OMB
where the office is proposed to be
located. The notice must state the name AGENCY: Board of Governors of the Final Approval Under OMB Delegated
and address of the applicant/notificant Federal Reserve System. Authority of the Extension for Three
and the proposed office, and it must Years, With Revision, of the Following
ACTION: Notice
invite the public to submit written Report
comments to the appropriate Reserve SUMMARY: The Board of Governors of the Report title: Application for Prior
Bank. Federal Reserve System (Board) is Approval to Become a Bank Holding
Legal authorization and adopting a proposal to extend for three Company, or for a Bank Holding
confidentiality: This information years, with revision, the Bank Holding Company to Acquire an Additional
collection is mandatory and collected Company Application and Notification Bank or Bank Holding Company;
pursuant to sections 7, 10, and 13 of the Forms (OMB No. 7100–0121): The Notification for Prior Approval to
International Banking Act (12 U.S.C. Application for Prior Approval to Become a Bank Holding Company, or
3105, 3107, and 3108). The information Become a Bank Holding Company or for for a Bank Holding Company to Acquire
collected on the FR K–2 is normally a Bank Holding Company to Acquire an an Additional Bank or Bank Holding
subject to public disclosure under the Additional Bank or Bank Holding Company; and Notification for Prior
Freedom of Information Act (FOIA). The Company (FR Y–3), the Notification for Approval to Engage Directly or
applying or notifying organization may Prior Approval to Become a Bank Indirectly in Certain Nonbanking
request that portions of the information Holding Company or for a Bank Holding Activities.
contained in the FR K–2 be afforded Company to Acquire an Additional Agency form number: FR Y–3,
confidential treatment. To do so, Bank or Bank Holding Company FR Y–3N, and FR Y–4.
applicants must demonstrate how the (FR Y–3N), and the Notification for OMB control number: 7100–0121.
information for which confidentiality is Prior Approval to Engage Directly or Frequency: Event-generated.
requested would fall within the scope of Indirectly in Certain Nonbanking Respondents: Corporations seeking to
one or more of the exemptions Activities (FR Y–4). become bank holding companies (BHCs)
contained in the FOIA. Any such DATES: The revisions are applicable as of and existing BHCs.
request would be evaluated on a case- July 31, 2018. Estimated average hours per response:
by-case basis. FR Y–3, Section 3(a)(1): 50 hours; FR Y–
Effective date: July 31, 2018. FOR FURTHER INFORMATION CONTACT:
3, Section 3(a)(3) and 3(a)(5): 60.5 hours;
Current actions: On March 23, 2018, Federal Reserve Board Clearance FR Y–3N, Sections 3(a)(1), 3(a)(3), and
the Board published a notice in the Officer—Nuha Elmaghrabi—Office of 3(a)(5): 5 hours; FR Y–4, complete
Federal Register (83 FR 12760) the Chief Data Officer, Board of notification: 12 hours; FR Y–4,
requesting public comment for 60 days Governors of the Federal Reserve expedited notification: 5 hours; and FR
on the extension, with revision, of the System, Washington, DC 20551 (202) Y–4, post-consummation: 0.5 hours.
FR K–2. The Board proposed to revise 452–3829. Telecommunications Device Estimated number of respondents: FR
the FR K–2 form and instructions in for the Deaf (TDD) users may contact Y–3, Section 3(a)(1): 81; FR Y–3, Section
order to: Improve the clarity of the (202) 263–4869, Board of Governors of 3(a)(3) and 3(a)(5): 136; FR Y–3N,
requests; reflect the impact of new laws, the Federal Reserve System, Sections 3(a)(1), 3(a)(3), and 3(a)(5): 26;
regulations, capital requirements, and Washington, DC 20551. FR Y–4, complete notification: 30; FR
accounting rules; make minor changes OMB Desk Officer—Shagufta Y–4, expedited notification: 11; and FR
for improved style, grammar and clarity; Ahmed—Office of Information and Y–4, post-consummation: 1.
and harmonize the general information, Regulatory Affairs, Office of Estimated annual burden hours:
certification, and confidentiality Management and Budget, New 12,824 hours.
sections with other similar forms. The Executive Office Building, Room 10235, General description of report: The
revisions are intended to make initial 725 17th Street NW, Washington, DC Federal Reserve requires the submission
daltland on DSKBBV9HB2PROD with NOTICES

filings more reflective of the proposed 20503 or by fax to (202) 395–6974. of these filings for regulatory and
transaction and thereby reduce the need SUPPLEMENTARY INFORMATION: On June supervisory purposes and to allow the
for subsequent information requests, 15, 1984, the Office of Management and Federal Reserve to fulfill its statutory
which delay the Federal Reserve’s Budget (OMB) delegated to the Board obligations under the Bank Holding
consideration of a filing and create authority under the Paperwork Company Act of 1956 (the BHC Act).
additional burden for filers. The Reduction Act (PRA) to approve of and These filings collect information on
comment period for this notice expired assign OMB control numbers to proposals by BHCs involving

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Document Created: 2018-07-20 01:18:47
Document Modified: 2018-07-20 01:18:47

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.
Dates		The revisions are applicable as of July 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 34579