Notice2021-12088
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 9, 2021
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the International Applications and Prior Notifications under Subpart B of Regulation K (FR K-2; OMB No. 7100-0284).
Full Text
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<title>Federal Register, Volume 86 Issue 109 (Wednesday, June 9, 2021)</title>
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[Federal Register Volume 86, Number 109 (Wednesday, June 9, 2021)]
[Notices]
[Pages 30604-30605]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-12088]
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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.
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
is adopting a proposal to extend for three years, without revision, the
International Applications and Prior Notifications under Subpart B of
Regulation K (FR K-2; OMB No. 7100-0284).
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.
Office of Management and Budget (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, OMB delegated to the Board
authority under the PRA to approve and assign OMB control numbers to
collections of information conducted or sponsored by the Board. Board-
approved collections of information are incorporated into the official
OMB inventory of currently approved collections of information. The OMB
inventory, as well as copies of the PRA Submission, supporting
statements, and approved collection of information instrument(s) are
available at <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>. These documents
are also available on the Federal Reserve Board's public website at
<a href="https://www.federalreserve.gov/apps/reportforms/review.aspx">https://www.federalreserve.gov/apps/reportforms/review.aspx</a> or may be
requested from the agency clearance officer, whose name appears above.
[[Page 30605]]
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of the Following Information Collection
Report title: The 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: 13.
Estimated average hours per response: Reporting: 35; Disclosure: 1.
Estimated annual burden hours: Reporting: 455; Disclosure: 13.
General description of report: Under the International Banking Act
of 1978 (IBA), foreign banks are required to obtain the prior approval
of the Board to establish a branch, agency, or representative office;
to establish or acquire ownership or control of a commercial lending
company in the United States; or to change the status of an agency or
limited branch to a branch in the United States. The Board uses the
information from the FR K-2 in connection with these applications and
to supervise foreign banks with offices \1\ in the United States.
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\1\ The term ``office'' means any branch, agency, or
representative office, or a commercial lending company subsidiary.
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Legal authorization and confidentiality: The FR K-2 is authorized
pursuant to sections 7, 10, and 13 of the International Banking Act.\2\
The applications and notifications comprising FR K-2 are required to
obtain a benefit.
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\2\ 12 U.S.C. 3105, 3107, and 3108.
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The Board does not routinely publicly release information collected
through the FR K-2. To the extent a respondent submits nonpublic
commercial or financial information in connection with the FR K-2,
which is both customarily and actually treated as private by the
respondent, the respondent may request confidential treatment pursuant
to exemption 4 of the Freedom of Information Act (FOIA).\3\ To the
extent a respondent submits personal, medical, or similar files, the
disclosure of which would constitute an unwarranted invasion of
privacy, the respondent may request confidential treatment pursuant to
exemption 6 of the FOIA.\4\ If a respondent requests confidential
treatment, the Board will determine whether the information is entitled
to confidential treatment on a case-by-case basis. The entity should
separately designate any such information as ``confidential commercial
information'' or ``confidential financial information'' and the Board
will treat such designated information as confidential to the extent
permitted by law, including the FOIA. To the extent a respondent
submits information related to examination, operating, or condition
reports prepared by, on behalf of, or for the use of a financial
supervisory agency, the information may be confidential pursuant to
exemption 8 of the FOIA.\5\
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\3\ 5 U.S.C. 552(b)(4).
\4\ 5 U.S.C. 552(b)(6).
\5\ 5 U.S.C. 552(b)(8).
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Current actions: On March 8, 2021, the Board published an initial
notice in the Federal Register (86 FR 13383) requesting public comment
for 60 days on the extension, without revision, of the FR K-2. The
comment period for this notice expired on May 7, 2021. The Board did
not receive any comments. The Board will adopt the extension, without
revision of the FR K-2 as originally proposed.
Board of Governors of the Federal Reserve System, June 4, 2021.
Ann Misback,
Secretary of the Board.
[FR Doc. 2021-12088 Filed 6-8-21; 8:45 am]
BILLING CODE 6210-01-P
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