Notice2023-26573
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 4, 2023
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 Reporting Requirements Associated with Regulation XX (FR XX; OMB No. 7100-0363).
Full Text
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<title>Federal Register, Volume 88 Issue 231 (Monday, December 4, 2023)</title>
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[Federal Register Volume 88, Number 231 (Monday, December 4, 2023)]
[Notices]
[Pages 84142-84143]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-26573]
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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
Reporting Requirements Associated with Regulation XX (FR XX; OMB No.
7100-0363).
FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of
Governors of the Federal Reserve
[[Page 84143]]
System, <a href="/cdn-cgi/l/email-protection#610f1409004f040d0c00060913000308210713034f060e17"><span class="__cf_email__" data-cfemail="69071c0108470c0504080e011b080b00290f1b0b470e061f">[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, Without Revision, of the Following Information Collection
Collection title: Reporting Requirements Associated with Regulation
XX.
Collection identifier: FR XX.
OMB control number: 7100-0363.
General description of collection: The Board's Regulation XX--
Concentration Limit (12 CFR part 251) implements section 14 of the Bank
Holding Company Act of 1956 (BHC Act), which establishes a financial
sector concentration limit that generally prohibits a financial company
from merging or consolidating with, or otherwise acquiring, another
company if the resulting company's liabilities upon consummation would
exceed 10 percent of the aggregate liabilities of all financial
companies (a covered acquisition). Under section 14 of the BHC Act and
Regulation XX, a financial company means (1) an insured depository
institution, (2) a bank holding company, (3) a savings and loan holding
company, (4) any other company that controls an insured depository
institution, (5) a nonbank financial company designated by the
Financial Stability Oversight Council (Council) for supervision by the
Board, or (6) a foreign bank or company that is treated as a bank
holding company for purposes of the BHC Act. Regulation XX includes
certain reporting requirements that apply to financial companies
(sections 251.3(e), 251.4(b), and 251.4(c)). In addition, section 251.6
of Regulation XX requires financial companies that do not report
consolidated financial information to the Board or other appropriate
Federal banking agency to report information on their total
liabilities; the Board has implemented this requirement through the
Financial Company (as defined) Report of Consolidated Liabilities (FR
XX-1).
Frequency: Event-generated, annual.
Respondents: Financial companies.
Total estimated number of respondents: 35.
Total estimated annual burden hours: 97.\1\
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\1\ 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 XX.
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Current actions: On July 19, 2023, the Board published a notice in
the Federal Register (88 FR 46162) requesting public comment for 60
days on the extension, without revision, of the FR XX. The comment
period for this notice expired on September 18, 2023. The Board did not
receive any comments.
Board of Governors of the Federal Reserve System, November 29,
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-26573 Filed 12-1-23; 8:45 am]
BILLING CODE 6210-01-P
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