Notice2022-01714
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
January 28, 2022
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 Notice of Proposed Declaration of Dividend (FR 1583; OMB No. 7100-0339).
Full Text
<html>
<head>
<title>Federal Register, Volume 87 Issue 19 (Friday, January 28, 2022)</title>
</head>
<body><pre>
[Federal Register Volume 87, Number 19 (Friday, January 28, 2022)]
[Notices]
[Pages 4595-4596]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-01714]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Notice of Proposed Declaration of Dividend (FR 1583; OMB
No. 7100-0339).
DATES: Comments must be submitted on or before March 29, 2022.
ADDRESSES: You may submit comments, identified by FR 1583, 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#a3d1c6c4d08dc0cccecec6cdd7d0e3c5c6c7c6d1c2cfd1c6d0c6d1d5c68dc4ccd5"><span class="__cf_email__" data-cfemail="11637476623f727e7c7c747f6562517774757463707d637462746367743f767e67">[email protected]</span></a>. Include the OMB
number or FR 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 confidential
business information, identifying information, or contact information.
Public comments may also be viewed electronically or in paper in Room
M-4365A, 2001 C St. 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 for the Federal
Reserve Board, 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 Paperwork Reduction Act (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.
During the comment period for this proposal, a copy of the proposed
PRA OMB submission, including the draft reporting form and
instructions, supporting statement, and other documentation, will 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. Final
versions of these documents will be made available at <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>, if approved.
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:
[[Page 4596]]
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: Notice of Proposed Declaration of Dividend.
Agency form number: FR 1583.
OMB control number: 7100-0339.
Frequency: Event-generated.
Respondents: Savings association subsidiaries of savings and loan
holding companies (SLHCs).
Estimated number of respondents: 180.
Estimated average hours per response: 0.25.
Estimated annual burden hours: 90.
General description of report: A savings association subsidiary of
an SLHC must provide prior notice of the proposed declaration of a
dividend by filing form FR 1583, whether electronically or by hard
copy, with the appropriate Reserve Bank. The FR 1583 requires
information regarding the date of the filing and the nature and amount
of the proposed dividend, as well as the names and signatures of the
executive officer and secretary of the savings association that is
providing the notice. The FR 1583 notice may include a schedule
proposing dividends over a period specified by the notificant, not to
exceed 12 months.
Legal authorization and confidentiality: The FR 1583 is authorized
by Section 10(f) of the Home Owners' Loan Act (HOLA).\1\ Section 10(f)
of HOLA provides that every subsidiary savings association of an SLHC
shall give the Board at least 30 days' advance notice of the proposed
declaration by its directors of any dividend on its guaranty,
permanent, or other nonwithdrawable stock. Additionally, Section 10(b)
of HOLA authorizes the Board to require SLHCs to file ``such reports as
may be required by the Board.'' \2\ The FR 1583 is mandatory.
---------------------------------------------------------------------------
\1\ 12 U.S.C. 1467a(f).
\2\ 12 U.S.C. 1467a(b). See 12 U.S.C. 1467a(g).
---------------------------------------------------------------------------
Individual respondents may request that information submitted on
the FR 1583 be kept confidential on a case-by-case basis. If such a
request is made, the Board will determine whether the information is
entitled to confidential treatment. Requests filed pursuant to the FR
1583 may include information related to the SLHC's business operations,
such as terms and sources of the funding for dividends and pro forma
balance sheets. To the extent that this information constitutes
nonpublic commercial or financial information, which is both
customarily and actually treated as private by the respondent, it may
be kept confidential under exemption 4 of the Freedom of Information
Act, which exempts ``trade secrets and commercial or financial
information obtained from a person and privileged or confidential.''
\3\
---------------------------------------------------------------------------
\3\ 5 U.S.C. 552(b)(4).
Board of Governors of the Federal Reserve System, January 24,
2022.
Ann Misback,
Secretary of the Board.
[FR Doc. 2022-01714 Filed 1-27-22; 8:45 am]
BILLING CODE 6210-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on January 28, 2022.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.