Notice2024-16597
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
July 29, 2024
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 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 145 (Monday, July 29, 2024)</title>
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[Federal Register Volume 89, Number 145 (Monday, July 29, 2024)]
[Notices]
[Pages 60893-60894]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-16597]
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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
International Applications and Prior Notifications under Subparts A and
C of Regulation K (FR K-1; OMB No. 7100-0107).
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#88e6fde0e9a6ede4e5e9efe0fae9eae1c8eefaeaa6efe7fe"><span class="__cf_email__" data-cfemail="cea0bba6afe0aba2a3afa9a6bcafaca78ea8bcace0a9a1b8">[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. On the page displayed at the link above, you can find the
supporting information by referencing the collection identifier, FR K-
1.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of the Following Information Collection
Collection title: International Applications and Prior
Notifications
[[Page 60894]]
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. 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)). The FR K-1 information
collection comprises a reporting form (FR K-1 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 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 and the
Bank Holding Company Act of 1956.
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.
Current actions: On April 29, 2024, the Board published a notice in
the Federal Register (89 FR 33348) requesting public comment for 60
days on the extension, without revision, of the FR K-1. The comment
period for this notice expired on June 28, 2024. The Board did not
receive any comments.
Board of Governors of the Federal Reserve System, July 24, 2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-16597 Filed 7-26-24; 8:45 am]
BILLING CODE 6210-01-P
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