Notice2022-03469
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
February 17, 2022
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 Domestic Branch Application (FR 4001; OMB No. 7100-0097).
Full Text
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<title>Federal Register, Volume 87 Issue 33 (Thursday, February 17, 2022)</title>
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[Federal Register Volume 87, Number 33 (Thursday, February 17, 2022)]
[Notices]
[Pages 9054-9055]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-03469]
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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
Domestic Branch Application (FR 4001; OMB No. 7100-0097).
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 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.
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. 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 9055]]
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of 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 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 information, the disclosure of which would ``constitute a
clearly unwarranted invasion of personal privacy,'' \3\ and under FOIA
exemption 8 if the application 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).
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Current actions: On October 18, 2021, the Board published a notice
in the Federal Register (86 FR 57673) requesting public comment for 60
days on the extension, without revision, of the Domestic Branch
Application. The comment period for this notice expired on December 17,
2021. The Board did not receive any comments.
Board of Governors of the Federal Reserve System, February 14,
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-03469 Filed 2-16-22; 8:45 am]
BILLING CODE 6210-01-P
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