Notice2024-09115
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
April 29, 2024
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 International Applications and Prior Notifications under Subparts A and C of Regulation K (FR K-1; OMB No. 7100-0107).
Full Text
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<title>Federal Register, Volume 89 Issue 83 (Monday, April 29, 2024)</title>
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[Federal Register Volume 89, Number 83 (Monday, April 29, 2024)]
[Notices]
[Pages 33348-33349]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-09115]
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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 International Applications and Prior Notifications under
Subparts A and C of Regulation K (FR K-1; OMB No. 7100-0107).
DATES: Comments must be submitted on or before June 28, 2024.
ADDRESSES: You may submit comments, identified by FR K-1, 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#3f4d5a584c115c5052525a514b4c7f595a5b5a4d5e534d5a4c5a4d495a11585049"><span class="__cf_email__" data-cfemail="98eafdffebb6fbf7f5f5fdf6ecebd8fefdfcfdeaf9f4eafdebfdeaeefdb6fff7ee">[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: Federal Reserve Board of Governors, Attn: Ann E.
Misback, Secretary of the Board, Mailstop M-4775, 2001 C St 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 20551, between 9:00 a.m. and 5:00
p.m. on weekdays, except for Federal holidays. 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, <a href="/cdn-cgi/l/email-protection#533d263b327d363f3e32343b2132313a133521317d343c25"><span class="__cf_email__" data-cfemail="aec0dbc6cf80cbc2c3cfc9c6dccfccc7eec8dccc80c9c1d8">[email protected]</span></a>, (202)
452-3884.
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 (which contains more detail about
the information collection and burden estimates than this notice), and
other documentation, will be made available on the 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 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:
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
Collection title: International Applications and Prior
Notifications under Subparts A and C of Regulation K.
Collection identifier: FR K-1.
OMB control number: 7100-0107.
General description of collection: Subpart A of Regulation K,
International Banking Operations (12 CFR part 211, subpart A), governs
the foreign investments and activities of member banks, Edge and
agreement corporations, bank holding companies (BHCs), and certain
investments by foreign organizations. Subpart C of Regulation K, Export
Trading Companies (12 CFR part 211, subpart C), governs investments in
export trading companies by eligible investors.\1\ The FR K-1
information collection comprises a reporting form, as well as certain
reporting and recordkeeping requirements contained in these subparts of
Regulation K that are not directly reflected in the FR K-1 form, and a
disclosure requirement (via newspaper notice) for certain transactions.
The FR K-1 form contains
[[Page 33349]]
eleven attachments associated with the application and notification
requirements in Subparts A and C of Regulation K. The Board requires
the information collected by the FR K-1 for regulatory and supervisory
purposes and to allow the Board to fulfill its statutory obligations
under the Federal Reserve Act (FRA) and the Bank Holding Company Act of
1956 (BHC Act).
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\1\ Eligible investors are BHCs, banker's banks, foreign banking
organizations, and Edge and agreement corporations that are
subsidiaries of BHCs but are not subsidiaries of banks. 12 CFR
211.32(d).
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Frequency: Event-generated.
Respondents: Member banks, Edge and agreement corporations, BHCs,
and with regard to certain investments, foreign organizations.
Total estimated number of respondents: 119.
Total estimated annual burden hours: 1,009.\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 K-1.
Board of Governors of the Federal Reserve System, April 23,
2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-09115 Filed 4-26-24; 8:45 am]
BILLING CODE 6210-01-P
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