Notice2024-16598
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
Effective
August 28, 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, 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
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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 60891-60892]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-16598]
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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
Bank Holding Company Applications and Notifications (FR Y-3, FR Y-3N,
and FR Y-4; OMB No. 7100-0121).
DATES: The revisions are effective as of August 28, 2024.
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#721c071a135c171e1f13151a0013101b321400105c151d04"><span class="__cf_email__" data-cfemail="dcb2a9b4bdf2b9b0b1bdbbb4aebdbeb59cbaaebef2bbb3aa">[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
[[Page 60892]]
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 Y-3, FR Y-3N,
and FR Y-4.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, With Revision, of 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 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.
Frequency: Event-generated.
Respondents: BHCs and any 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.
Current actions: On April 30, 2024, the Board published a notice in
the Federal Register (89 FR 34246) requesting public comment for 60
days on the extension, with revision, of the FR Y-3, FR Y-3N, and FR Y-
4. The Board proposed 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 instructions; 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.
The comment period for this notice expired on July 1, 2024. The Board
did not receive any comments. The revisions will be implemented as
proposed.
Board of Governors of the Federal Reserve System, July 24, 2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-16598 Filed 7-26-24; 8:45 am]
BILLING CODE 6210-01-P
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