Notice2022-27920
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
December 23, 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, with revision, the Federal Reserve Membership Application (FR 2083, FR 2083A, FR 2083B, and FR 2083C; OMB No. 7100-0046) and the Federal Reserve Bank Stock Applications (FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, and FR 2087; OMB No. 7100-0042).
Full Text
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<title>Federal Register, Volume 87 Issue 246 (Friday, December 23, 2022)</title>
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[Federal Register Volume 87, Number 246 (Friday, December 23, 2022)]
[Notices]
[Pages 78962-78964]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-27920]
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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, with revision, the
Federal Reserve Membership Application (FR 2083, FR 2083A, FR 2083B,
and FR 2083C; OMB No. 7100-0046) and the Federal Reserve Bank Stock
Applications (FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, and FR
2087; OMB No. 7100-0042).
FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of
Governors of the Federal Reserve
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System, <a href="/cdn-cgi/l/email-protection#fd9388959cd39891909c9a958f9c9f94bd9b8f9fd39a928b"><span class="__cf_email__" data-cfemail="f799829f96d9929b9a96909f8596959eb7918595d9909881">[email protected]</span></a>, (202) 452-3884.
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 (which contain more detailed
information about the information collections and burden estimates than
this notice), 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/reportingforms/home/review">https://www.federalreserve.gov/apps/reportingforms/home/review</a> or may
be requested from the agency clearance officer, whose name appears
above.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, With Revision, of the Following Information Collections \1\
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\1\ As part of this clearance, the Board will clear the FR 2083,
FR 2083A, FR 2083B, and FR 2083C (FR 2083/A/B/C) under the FR 2030,
FR 2030a, FR 2056, FR 2086, FR 2086a, and FR 2087 OMB control number
(7100-0042), and then discontinue the FR 2083/A/B/C's separate OMB
control number (7100-0046). This change is aimed at simplifying the
tracking and clearance process for the two related sets of forms.
This change would not modify the reporting requirements of the forms
in any way. The collection will then be titled ``The Federal Reserve
Membership and Bank Stock Applications'' (FR 2030, FR 2030a, FR
2056, FR 2083, FR 2083A, FR 2083B, FR 2083C, FR 2086, FR 2086a, and
FR 2087; 7100-0042).
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Collection title: Federal Reserve Membership Application.
Collection identifier: FR 2083, FR 2083A, FR 2083B, and FR 2083C.
OMB control number: 7100-0046.
Effective date: January 23, 2023.
General description of collection: Any state-chartered bank (or
national bank converting to become a state-chartered bank) applying for
membership in the Federal Reserve System must file an application with
the appropriate Federal Reserve Bank. The four individual application
forms in the FR 2083/A/B/C series (membership application and relevant
attachments) are all one-time submissions that are used by new or
existing state-chartered banks to apply for membership in the Federal
Reserve System:
<bullet> FR 2083--Cover sheet, with general information and
instructions detailing the information to be submitted according to the
type of applicant bank,
<bullet> FR 2083A--Application form for the purchase of Federal
Reserve Bank stock by state banks (except mutual savings banks) and by
national banks converting into state member banks,
<bullet> FR 2083B--Application form for the purchase of Federal
Reserve Bank stock by mutual savings banks, and
<bullet> FR 2083C--Certificate of Organizers or Directors
certifying that the information being submitted is true and complete,
and the proposed capital is not impaired.
Frequency: On occasion.
Respondents: State-chartered banks (or national banks converting to
become state-chartered banks) applying for membership in the Federal
Reserve System.
Total estimated number of respondents: 13.\2\
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\2\ More detailed information regarding this collection,
including more detailed burden estimates, can be found in the OMB
Supporting Statement posted at <a href="https://www.federalreserve.gov/apps/reportingforms/home/review">https://www.federalreserve.gov/apps/reportingforms/home/review</a>. On the page displayed at the link, you
can find the OMB Supporting Statement by referencing the collection
identifier, FR 2030 et al or FR 2083.
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Total estimated change in burden: 13 hours.
Total estimated annual burden hours: 65.
Collection title: Federal Reserve Bank Stock Applications.
Collection identifier: FR 2030, FR 2030a, FR 2056, FR 2086, FR
2086a, and FR 2087.
OMB control number: 7100-0042.
Effective date: January 23, 2023.
General description of collection: Any national bank seeking to
purchase stock in the Federal Reserve System, any member bank seeking
to increase or decrease its Federal Reserve Bank stock holdings, or any
member bank seeking to cancel its stock holdings must file an
application with the appropriate Federal Reserve Bank. The application
forms for the initial subscription of Federal Reserve Bank stock filed
by organizing national banks and nonmember state banks converting to
national banks or federal savings associations electing to operate as a
covered savings association (CSA) (FR 2030 and 2030a, respectively) and
the application forms for the cancellation of Federal Reserve Bank
stock filed by liquidating member banks, member banks merging or
consolidating with nonmember banks or CSAs terminating an election to
operate as a CSA, and insolvent member banks (FR 2086, FR 2086a, and FR
2087, respectively) may require one or more of the following: a
resolution by the applying bank's board of directors authorizing the
transaction, an indication of the capital and surplus of the bank as of
the date of application, a certification (by official signatures) of
the resolution, and/or an indication of the number of shares and dollar
amount of the Federal Reserve Bank stock to be purchased or canceled.
The application form for an adjustment in a member bank's holdings
of Federal Reserve Bank stock (FR 2056) requires an indication of the
capital and surplus of the bank as of the date of application and an
indication of the number of shares held and the number of shares to be
acquired or canceled. A completed application form must be submitted
for each required adjustment by the survivor member bank due to legal
merger or other consolidation as a result of Regulation I. The amount
of Federal Reserve Bank stock actually held by the member bank is
determined by the Reserve Bank through its monitoring of the member
bank's capital accounts reported quarterly on the Consolidated Reports
of Condition and Income (Call Report) (FFIEC 031, FFIEC 041, and FFIEC
051; OMB No. 7100 0036). The Federal Reserve Bank stock applications
are distributed by the Federal Reserve Banks and the information
collected enables them to account for required subscription,
adjustment, or cancellation payments to and from the System and for
dividends paid by the System on any outstanding stock.
Frequency: On occasion.
Respondents: Banks seeking to become state member banks, existing
banks or savings institutions seeking to convert to state member bank
status, national banks seeking to purchase stock in the Federal Reserve
System, and member banks seeking to increase, decrease, or cancel their
Federal Reserve Bank stock holdings.
Total estimated number of respondents: 90.
Total estimated annual burden hours: 47.
Current actions: On September 14, 2022, the Board published a
notice in the Federal Register (87 FR 56421) requesting public comment
for 60 days on the extension, with revision, of the FR 2083, FR 2083A,
FR 2083B, FR 2083C, FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, and
FR 2087. The Board revised the FR 2083, FR 2056, FR
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2086, FR 2086a, and FR 2087 by aligning the Applicant's Interagency
Biographical and Financial Report (FR 2081c; OMB No. 7100-0134)
requirements with Federal Reserve internal guidance, requiring updated
shareholder records if changes are proposed, updating the total
consolidated assets threshold for the purchase of Federal Reserve bank
stock to conform with the Board's Regulation I--Issue and Cancellation
of Federal Reserve Bank Capital Stock (12 CFR 209), and removing items
that are no longer required in the application process. These revisions
are intended to improve the clarity of the information requests. There
were no proposed revisions to the FR 2030, FR 2030a, FR 2083A, FR
2083B, or FR 2083C as part of this clearance.
The comment period for this notice expired on November 14, 2022.
The Board did not receive any comments.
Board of Governors of the Federal Reserve System, December 19,
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-27920 Filed 12-22-22; 8:45 am]
BILLING CODE 6210-01-P
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