Notice2021-22590
Proposed Agency Information Collection Activities; Comment Request
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
October 18, 2021
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Domestic Branch Application (FR 4001; OMB No. 7100-0097).
Full Text
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<title>Federal Register, Volume 86 Issue 198 (Monday, October 18, 2021)</title>
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[Federal Register Volume 86, Number 198 (Monday, October 18, 2021)]
[Notices]
[Pages 57673-57674]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-22590]
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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.
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SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Domestic Branch Application (FR 4001; OMB No. 7100-0097).
DATES: Comments must be submitted on or before December 17, 2021.
ADDRESSES: You may submit comments, identified by FR 4001, by any of
the following methods:
<bullet> Agency website: <a href="https://www.federalreserve.gov/">https://www.federalreserve.gov/</a>. Follow
the instructions for submitting comments at <a href="https://www.federalreserve.gov/apps/foia/proposedregs.aspx">https://www.federalreserve.gov/apps/foia/proposedregs.aspx</a>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#4b392e2c3865282426262e253f380b2d2e2f2e392a27392e382e393d2e652c243d"><span class="__cf_email__" data-cfemail="64160103174a070b0909010a10172402010001160508160117011612014a030b12">[email protected]</span></a>. Include the OMB
number in the subject line of the message.
<bullet> Fax: (202) 452-3819 or (202) 452-3102.
<bullet> 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
<a href="https://www.federalreserve.gov/apps/foia/proposedregs.aspx">https://www.federalreserve.gov/apps/foia/proposedregs.aspx</a> as
submitted, unless modified for technical reasons or to remove
personally identifiable information at the commenter's request.
Accordingly, comments will not be edited to remove any identifying or
contact information. Public comments may also be viewed electronically
or in paper in Room 146, 1709 New York Avenue NW, Washington, DC 20006,
between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the
Board requires that visitors make an appointment to inspect comments.
You may do so by calling (202) 452-3684. Upon arrival, visitors will be
required to present valid government-issued photo identification and to
submit to security screening in order to inspect and photocopy
comments.
Additionally, commenters may send a copy of their comments to the
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.
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.
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. 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.
A copy of the Paperwork Reduction Act (PRA) OMB submission,
including the reporting form and instructions, supporting statement,
and other documentation will be available at <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>, if approved. These documents will also be made
available on the 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.
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 Board's functions, including whether the
information has practical utility;
b. The accuracy of the Board'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 Board
should modify the proposal.
Proposal Under OMB Delegated Authority To Extend for Three Years,
Without Revision, the Following Information Collection
Report title: Domestic Branch Application.
Agency form number: FR 4001.
OMB control number: 7100-0097.
Frequency: On occasion.
Respondents: State member banks (SMBs).
Estimated number of respondents: Expedited notifications, 55;
nonexpedited notifications, 169; disclosures, 224.
Estimated average hours per response: Expedited notifications, 1;
nonexpedited notifications, 1.5; disclosures, 0.5.
Estimated annual burden hours: Expedited notifications, 55;
nonexpedited notifications, 254; disclosures, 112.
General description of report: The Federal Reserve Act and the
Board's
[[Page 57674]]
Regulation H require an SMB to seek prior approval of the Federal
Reserve System before establishing or acquiring a domestic branch. Such
requests for approval must be filed as applications at the appropriate
Reserve Bank for the SMB. Due to the limited information that an SMB
generally has to provide for branch proposals, there is no reporting
form for a domestic branch application. An SMB is required to notify
the Federal Reserve by letter of its intent to establish one or more
new branches and provide evidence that public notice of the proposed
branch(es) has been published by the SMB in the appropriate
newspaper(s). The Federal Reserve uses the information provided to
fulfill its statutory obligation to review branch applications before
acting on the proposals and to otherwise supervise SMBs.
Legal authorization and confidentiality: The filing requirements
under the FR 4001 are authorized by section 9(3) of the Federal Reserve
Act.\1\ The filing requirements under the FR 4001 are required to
obtain a benefit.
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\1\ 12 U.S.C. 321 (requiring state member banks to obtain Board
approval prior to establishing a domestic branch).
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The information in an SMB's domestic branch application is public.
An SMB may request that portions of its application be kept
confidential pursuant to exemption 4 of the Freedom of Information Act
(FOIA) if they contain commercial or financial information that is both
customarily and actually treated as private.\2\ Information provided by
an SMB as part of its domestic branch application may also be
considered confidential under FOIA exemption 6 if the application
contains personal information, the disclosure of which would
``constitute a clearly unwarranted invasion of privacy,'' \3\ and under
FOIA exemption 8 if it is obtained as part of an examination or
supervision of a financial institution.\4\
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\2\ 5 U.S.C. 552(b)(4).
\3\ 5 U.S.C. 552(b)(6).
\4\ 5 U.S.C. 552(b)(8).
Board of Governors of the Federal Reserve System, October 12,
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-22590 Filed 10-15-21; 8:45 am]
BILLING CODE 6210-01-P
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