Notice2024-09274
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 30, 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, with revision, the Bank Holding Company Applications and Notifications (FR Y-3, FR Y- 3N, and FR Y-4; OMB No. 7100-0121).
Full Text
<html>
<head>
<title>Federal Register, Volume 89 Issue 84 (Tuesday, April 30, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 84 (Tuesday, April 30, 2024)]
[Notices]
[Pages 34246-34247]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-09274]
-----------------------------------------------------------------------
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, with revision,
the Bank Holding Company Applications and Notifications (FR Y-3, FR Y-
3N, and FR Y-4; OMB No. 7100-0121).
DATES: Comments must be submitted on or before July 1, 2024.
ADDRESSES: You may submit comments, identified by FR Y-3, FR Y-3N, and
FR Y-4, 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#66140301154805090b0b03081215260003020314070a1403150314100348010910"><span class="__cf_email__" data-cfemail="daa8bfbda9f4b9b5b7b7bfb4aea99abcbfbebfa8bbb6a8bfa9bfa8acbff4bdb5ac">[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#e688938e87c8838a8b87818e9487848fa6809484c8818990"><span class="__cf_email__" data-cfemail="8de3f8e5eca3e8e1e0eceae5ffecefe4cdebffefa3eae2fb">[email protected]</span></a>, (202)
452-3884.
[[Page 34247]]
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 Proposals
The Board invites public comment on the following information
collections, which are being reviewed under authority delegated by the
OMB under the PRA. Comments are invited on the following:
a. Whether the proposed collections of information are 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 collections, 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, With
Revision, the Following Information Collections
Collection title: Bank Holding Company Applications and
Notifications.
Collection identifier: FR Y-3, FR Y-3N, and FR Y-4.
OMB control number: 7100-0121.
General description of collection: These filings collect
information on proposals by Bank Holding Companies (BHCs) involving
formations, acquisitions, mergers, and nonbanking activities. The Board
requires the submission of these filings for regulatory and supervisory
purposes and to allow the Board to fulfill its statutory obligations
under the Bank Holding Company Act of 1956 (the BHC Act). The Board
uses this information to evaluate each individual transaction with
respect to financial and managerial factors, permissibility,
competitive effects, financial stability, net public benefits, and
impact on the convenience and needs of affected communities.
Proposed revisions: The Board proposes to revise the FR Y-3, FR Y-
3N, and FR Y-4 forms and instructions to update or add certain
citations and references; delete language that requires an explanation
of the assumptions used in financial projections only if the
projections deviate from historical performance; remove the sample
publication from the instruction; add questions regarding groups acting
in concert, individuals who would own 10 percent or more of the
applicant, and companies that would own five percent or more of the
applicant; add a requirement that applicants provide a breakdown of pro
forma equity; add a requirement that applicants identify any management
official of the applicant who is also a management official at another
depository institution; and add a question regarding the integration of
the target into the applicant.
Frequency: Event-generated.
Respondents: BHCs and a company seeking to become a BHC.
Total estimated number of respondents: 335.
Total estimated change in burden: 388.
Total estimated annual burden hours: 7,603.\1\
---------------------------------------------------------------------------
\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 Y-3, FR Y-3N, and FR Y-4.
Board of Governors of the Federal Reserve System, April 25,
2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-09274 Filed 4-29-24; 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 April 30, 2024.
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.