[Federal Register Volume 76, Number 47 (Thursday, March 10, 2011)]
[Notices]
[Pages 13188-13190]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-5514]


=======================================================================
-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

    SUMMARY: Background. Notice is hereby given of the final approval 
of proposed information collections by the Board of Governors of the 
Federal Reserve System (Board) under OMB delegated authority, as per 5 
CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the 
Public). Board-approved collections of information are incorporated 
into the official OMB inventory of currently approved collections of 
information. Copies of the Paperwork Reduction Act Submission, 
supporting statements and approved collection of information 
instrument(s) are placed into OMB's public docket files. The Federal 
Reserve may not conduct or sponsor, and the respondent is not required 
to respond to, an information collection that has been extended, 
revised, or implemented on or after October 1, 1995, unless it displays 
a currently valid OMB control number.
    For Further Information Contact: Cynthia Ayouch, Acting Federal 
Reserve Board Clearance Officer (202-452-3829), Division of Research 
and Statistics, Board of Governors of the Federal Reserve System, 
Washington, DC 20551. Telecommunications Device for the Deaf (TDD) 
users may contact (202-263-4869), Board of Governors of the Federal 
Reserve System, Washington, DC 20551.
    OMB Desk Officer--Shagufta Ahmed--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503.
    Final approval under OMB delegated authority of the implementation 
of the following report:
    Report title: Payment Systems Surveys: Ad Hoc Payments Systems 
Survey, Currency Quality Sampling Survey, Currency Quality Survey, and 
Currency Functionality Survey.
    Agency form number: FR 3054a, FR 3054b, FR 3054c, and FR 3054d.
    OMB control number: 7100-0332.
    Frequency: Annual, semi-annual, and on occasion.
    Reporters: Financial and nonfinancial businesses (banknote 
equipment manufacturers, or global wholesale bank note dealers).
    Estimated annual reporting hours: FR 3054a: 15,000 hours; FR 3054b: 
90 hours; FR 3054c: 1,500 hours; and FR 3054d: 960 hours.
    Estimated average hours per response: FR 3054a: 15 hours; FR 3054b: 
0.5 hours; FR 3054c: 30 hours; and FR 3054d: 48 hours.
    Number of respondents: FR 3054a: 100; FR 3054b: 180; FR 3054c; 25; 
and FR 3054d: 20.
    General description of report: These information collections are 
authorized pursuant to Section 11(d) of the Federal Reserve Act (12 
U.S.C. 248(d)) and are voluntary. The ability of the Federal Reserve to 
maintain the confidentiality of information provided by respondents to 
the Payment Systems surveys would be determined on a case-by-case basis 
depending on the type of information provided for a particular survey. 
Depending upon the survey questions, confidential treatment could be 
warranted under section (b)(4) of the Freedom of Information Act (5 
U.S.C. 552(b)(4)).
    Abstract: The FR 3054a will be an event-driven survey used to 
obtain information specifically tailored to the Federal Reserve's 
operational and fiscal agency responsibilities. The FR 3054a could be 
conducted independently by the Federal Reserve, jointly with another 
government agency, or a Federal Reserve Bank. The FR 3054b will be an 
annual survey to assess the quality of currency in circulation and will 
be conducted jointly with the Federal Reserve Bank of San Francisco's 
Cash Product Office (CPO), the Federal Reserve Bank of Richmond's 
Currency Technology Office (CTO), and each Federal Reserve Bank's cash 
department. The FR 3054c will be a semi-annual survey to determine 
depository institutions' and Banknote Equipment Manufacturers' opinions 
of currency quality and would be conducted jointly with the CPO and 
CTO. The FR 3054d will be an annual survey to assess the functionality 
of Federal Reserve notes in banknote handling equipment. The FR 3054d 
data collected from BEMs will be used as input for future designs of 
Federal Reserve notes. The FR 3054d will be conducted jointly with the 
U.S. Treasury's Bureau of Engraving and Printing and the CTO. The FR 
3054a, FR 3054b, FR 3054c, and FR 3054d will be sent to financial and 
nonfinancial businesses.
    The Federal Reserve will use the data collected from these surveys 
to determine: (1) Demand for currency and coin, (2) market preferences 
regarding currency quality, (3) quality of currency in circulation, (4) 
features used by bank note authentication equipment to denominate and 
authenticate bank notes, and (5) whether changes to Federal Reserve 
Bank sorting algorithms are necessary to ensure that currency in 
circulation remains fit for commerce.
    Current Actions: On December 28, 2010, the Federal Reserve 
published a notice in the Federal Register (75 FR 81607) requesting 
public comment for 60 days on the implementation of the FR 3054a, FR 
3054b, FR 3054c, and FR 3054d surveys. The comment period for this 
notice expired on February 28, 2011. The Federal Reserve did not 
receive any comments; the surveys will be implemented as proposed.
    Final approval under OMB delegated authority of the extension for 
three years, with revision, of the following reports:
    1. Report title: Consumer Satisfaction Questionnaire, Federal 
Reserve Consumer Help--Consumer Survey, and Consumer Online Complaint 
Form.
    Agency form number: FR 1379a, FR 1379b, and FR 1379c.
    OMB control number: 7100-0135.
    Frequency: Event generated.
    Reporters: Consumers.
    Estimated annual reporting hours: FR 1379a: 116 hours; FR 1379b: 
167 hours; FR 1379c: 1,351 hours.

[[Page 13189]]

    Estimated average hours per response: FR 1379a: 5 minutes; FR 
1379b: 5 minutes; FR 1379c: 10 minutes.
    Number of respondents: FR 1379a: 1,391; FR 1379b: 2,001; FR 1379c: 
8,107.
    General description of report: This information collection is 
voluntary and is authorized by law pursuant the Federal Trade 
Commission Improvement Act (15 U.S.C. 57(a)(f)). The FR 1379a is not 
considered confidential. The FR 1379b collects the respondent's name 
and the respondent may provide other personal information and 
information regarding his or her complaint in response to question 
five. The FR 1379c collects the respondent's third-party representative 
if the respondent has such a representative. Thus, some of the 
information collected on the FR 1379b and c is considered confidential 
under the Freedom of Information Act (5 U.S.C. 552(b)(4), (b)(6), 
(b)(7)).
    Abstract: The FR 1379a questionnaire is sent to consumers who have 
filed complaints with the Federal Reserve against state member banks. 
The information is used to assess their satisfaction with the Federal 
Reserve's handling and written response to their complaint at the 
conclusion of an investigation. The FR 1379b questionnaire is sent as 
needed to consumers who contact the Federal Reserve Consumer Help 
(FRCH) to file a complaint or inquiry. The information is used to 
determine whether consumers are satisfied with the way the FRCH handled 
their complaint. Consumers use the FR 1379c to electronically submit a 
complaint against a financial institution to the FRCH.
    Current Actions: On December 28, 2010, the Federal Reserve 
published a notice in the Federal Register (75 FR 81607) requesting 
public comment for 60 days on the extension, with revision, of this 
information collection. The comment period for this notice expired on 
February 28, 2011. The Federal Reserve did not receive any comments. 
The revisions will be implemented as proposed.
    2. Report title: Application for Prior Approval to Become a Bank 
Holding Company or for a Bank Holding Company to Acquire an Additional 
Bank or Bank Holding Company, Notification for Prior Approval to Become 
a Bank Holding Company or for a Bank Holding Company to Acquire an 
Additional Bank or Bank Holding Company; and Notification for Prior 
Approval to Engage Directly or Indirectly in Certain Nonbanking 
Activities.
    Agency form number: FR Y-3, FR Y-3N, and FR Y-4.
    OMB control number: 7100-0121.
    Frequency: Event generated.
    Reporters: Corporations seeking to become bank holding companies 
(BHCs), or existing BHCs and state chartered banks that are members of 
the Federal Reserve System.
    Estimated annual reporting hours: FR Y-3 Section 3(a)(1): 5,565 
hours; FR Y-3 Section 3(a)(3) and 3(a)(5): 9,081 hours; FR Y-3N Section 
3(a)(1), 3(a)(3), and 3(a)(5): 225 hours; FR Y-4 Complete notification: 
936 hours; FR Y-4 Expedited notification: 90 hours; and FR Y-4 Post-
consummation: 8 hours.
    Estimated average hours per response: FR Y-3 Section 3(a)(1): 53 
hours; FR Y-3 Section 3(a)(3) and 3(a)(5): 63.5 hours; FR Y-3N Section 
3(a)(1), 3(a)(3), and 3(a)(5): 5 hours; FR Y-4 Complete notification: 
12 hours; FR Y-4 Expedited notification: 5 hours; and FR Y-4 Post-
consummation: 30 minutes.
    Number of respondents: FR Y-3 Section 3(a)(1): 105; FR Y-3 Section 
3(a)(3) and 3(a)(5): 143; FR Y-3N Section 3(a)(1), 3(a)(3), and 
3(a)(5): 45; FR Y-4 Complete notification: 78; FR Y-4 Expedited 
notification: 18; and FR Y-4 Post-consummation: 16.
    General description of report: These information collections are 
mandatory (12 U.S.C. 1842(a), 1844(b), 1843(j)). The information 
submitted in the FR Y-3, FR Y-3N, and FR Y-4 is considered to be public 
unless an institution requests confidential treatment for portions of 
the particular application or notification. Applicants may rely on any 
Freedom of Information Act (FOIA) exemption, but such requests for 
confidentiality must contain detailed justifications corresponding to 
the claimed FOIA exemption. Requests for confidentiality must be 
evaluated on a case-by-case basis.
    Abstract: The Federal Reserve requires the submission of these 
filings for regulatory and supervisory purposes and to allow the 
Federal Reserve to fulfill its statutory obligations under the Bank 
Holding Company (BHC) Act of 1956. These filings collect information on 
proposals by bank holding companies involving formations, acquisitions, 
mergers, and nonbanking activities. The Federal Reserve must obtain 
this information to evaluate each individual transaction with respect 
to financial and managerial factors, permissibility, competitive 
effects, net public benefits, and the impact on the convenience and 
needs of affected communities.
    Current Actions: On December 28, 2010, the Federal Reserve 
published a notice in the Federal Register (75 FR 81607) requesting 
public comment for 60 days on the extension, with minor revision, of 
this information collection. The comment period for this notice expired 
on February 28, 2011. The Federal Reserve did not receive any comments. 
The revision will be implemented as proposed.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following reports:
    1. Report title: Annual Daylight Overdraft Capital Report for U.S. 
Branches and Agencies of Foreign Banks.
    Agency form number: FR 2225.
    OMB control number: 7100-0216.
    Frequency: Annual.
    Reporters: Foreign banks with U.S. branches or agencies.
    Estimated annual reporting hours: 45 hours.
    Estimated average hours per response: 1 hour.
    Number of respondents: 45.
    General description of report: This information collection is 
authorized pursuant to sections 11(i), 16, and 19(f) of the Federal 
Reserve Act (12 U.S.C. 248(i), 248-1, and 464). A foreign banking 
organization (FBO) is required to respond in order to obtain or retain 
a benefit, i.e., in order for the U.S. branch or agency of an FBO to 
establish and maintain a non-zero net debit cap. The information 
submitted by respondents is not confidential; however, respondents may 
request confidential treatment for portions of the report. Data may be 
considered confidential and exempt from disclosure under section (b)(4) 
of the Freedom of Information Act if it constitutes commercial or 
financial information and it would customarily not be released to the 
public by the person from whom it was obtained (5 U.S.C. 552(b)(4)).
    Abstract: This report was implemented in March 1986 as part of the 
procedures used to administer the Federal Reserve's Payments System 
Risk (PSR) policy. A key component of the PSR policy is a limit, or a 
net debit cap, on an institution's negative intraday balance in its 
Reserve Bank account. The Federal Reserve calculates an institution's 
net debit cap by applying the multiple associated with the net debit 
cap category to the institution's capital. For FBOs, a percentage of 
the FBO's capital measure, known as the U.S. capital equivalency, is 
used to calculate the FBO's net debit cap.
    Currently, an FBO with U.S. branches or agencies may voluntarily 
file the FR 2225 to provide the Federal Reserve with its capital 
measure. Because an FBO that files the FR 2225 may be able to use its 
total capital in determining its U.S capital equivalency measure, which

[[Page 13190]]

is then used to calculate its net debit cap, an FBO seeking to maximize 
its daylight overdraft capacity may find it advantageous to file the FR 
2225. An FBO that does not file FR 2225 may use an alternative capital 
measure based on its nonrelated liabilities.
    Current Actions: On December 28, 2010, the Federal Reserve 
published a notice in the Federal Register (75 FR 81607) requesting 
public comment for 60 days on the extension, with revision, of the 
Annual Daylight Overdraft Capital Report for U.S. Branches and Agencies 
of Foreign Banks. The comment period for this notice expired on 
February 28, 2011. The Federal Reserve did not receive any comments.
    2. Report title: International Applications and Prior Notifications 
under Subparts A and C of Regulation K.
    Agency form number: FR K-1.
    OMB control number: 7100-0107.
    Frequency: Event generated.
    Reporters: State member banks, Edge and agreement corporations, 
bank holding companies, and certain FBOs.
    Estimated annual reporting hours: Attachments A and B, 161 hours; 
Attachments C through G, 120 hours; Attachments H and I, 558 hours; 
Attachment J, 30 hours; Attachment K, 20 hours.
    Estimated average hours per response: Attachments A and B, 11.5 
hours; Attachments C through G, 10 hours; Attachments H and I, 15.5 
hours; Attachment J, 10 hours; Attachment K, 20 hours.
    Number of respondents: Attachments A and B, 7; Attachments C 
through G, 6; Attachments H and I, 12; Attachment J, 3; Attachment K, 
1.
    General description of report: This information collection is 
mandatory pursuant to sections 25 and 25A of the Federal Reserve Act 
(12 U.S.C. 601-604(a), 611-631) and sections 4(c)(13), 4(c)(14), and 
5(c) of the BHC Act (12 U.S.C. 1843(c)(13), 1843(c)(14), 1844(c)). The 
information submitted in the FR K-1 is considered to be public unless 
an institution requests confidential treatment for portions of the 
particular application or notification. Applicants may rely on any FOIA 
exemption, but such requests for confidentiality must contain detailed 
justifications corresponding to the claimed FOIA exemption. Requests 
for confidentiality must be evaluated on a case-by-case basis.
    Abstract: Subpart A of Regulation K governs the foreign investments 
and activities of member banks, Edge and agreement corporations, bank 
holding companies, and certain investments by foreign organizations. 
Subpart C of Regulation K governs investments in export trading 
companies. The FR K-1 information collection contains eleven 
attachments for the application and notification requirements embodied 
in Subparts A and C of Regulation K. The Federal Reserve requires these 
applications for regulatory and supervisory purposes and to allow the 
Federal Reserve to fulfill its statutory obligations under the Federal 
Reserve Act and the BHC Act of 1956.
    Current Actions: On December 28, 2010, the Federal Reserve 
published a notice in the Federal Register (75 FR 81607) requesting 
public comment for 60 days on the extension, without revision, of the 
International Applications and Prior Notifications under Subparts A and 
C of Regulation K. The comment period for this notice expired on 
February 28, 2011. The Federal Reserve did not receive any comments.
    3. Report title: International Applications and Prior Notifications 
Under Subpart B of Regulation K.
    Agency form number: FR K-2.
    OMB control number: 7100-0284.
    Frequency: Event generated.
    Reporters: Foreign banks.
    Estimated annual reporting hours: 630 hours.
    Estimated average hours per response: 35 hours.
    Number of respondents: 18.
    General description of report: This information collection is 
mandatory pursuant to sections 7, 10, and 13 of the International 
Banking Act (12 U.S.C. 3105, 3107, 3108). The applying or notifying 
organization may request that portions of the information contained in 
the FR K-2 be afforded confidential treatment. To do so, applicants 
must demonstrate how the information for which confidentiality is 
requested would fall within the scope of one or more of the exemptions 
contained in the Freedom of Information Act. Any such request would 
have to be evaluated on a case-by-case basis.
    Abstract: Foreign banks are required to obtain the prior approval 
of the Federal Reserve to establish a branch, agency, or representative 
office; to acquire ownership or control of a commercial lending company 
in the United States; or to change the status of any existing office in 
the United States. The Federal Reserve uses the information, in part, 
to fulfill its statutory obligation to supervise FBOs with offices in 
the United States.
    Current Actions: On December 28, 2010, the Federal Reserve 
published a notice in the Federal Register (75 FR 81607) requesting 
public comment for 60 days on the extension, without revision, of the 
International Applications and Prior Notifications Under Subpart B of 
Regulation K. The comment period for this notice expired on February 
28, 2011. The Federal Reserve did not receive any comments.
    4. Report title: Application for a Foreign Organization to Acquire 
a U.S. Bank or Bank Holding Company.
    Agency form number: FR Y-3F.
    OMB control number: 7100-0119.
    Frequency: Event generated.
    Reporters: Any company organized under the laws of a foreign 
country seeking to acquire a U.S. subsidiary bank or BHC.
    Estimated annual reporting hours: Initial application, 90 hours; 
subsequent application, 490 hours.
    Estimated average hours per response: Initial application, 90 
hours; subsequent application, 70 hours.
    Number of respondents: Initial application, 1; subsequent 
application, 7.
    General description of report: This information collection is 
required to obtain or retain a benefit under sections 3(a), 3(c), and 
5(a) through 5(c) of the BHC Act (12 U.S.C. 1842(a), (c), 1844(a)-(c)). 
The information provided in the application is not confidential unless 
the applicant specifically requests confidentiality and the Federal 
Reserve approves the request.
    Abstract: Under the BHC Act, submission of this application is 
required for any company organized under the laws of a foreign country 
seeking to acquire a U.S. subsidiary bank or BHC. Applicants must 
provide financial and managerial information, discuss the competitive 
effects of the proposed transaction, and discuss how the proposed 
transaction would enhance the convenience and needs of the community to 
be served. The Federal Reserve uses the information, in part, to 
fulfill its supervisory responsibilities with respect to FBOs in the 
United States.
    Current Actions: On December 28, 2010, the Federal Reserve 
published a notice in the Federal Register (75 FR 81607) requesting 
public comment for 60 days on the extension, without revision, of the 
Application for a Foreign Organization to Acquire a U.S. Bank or Bank 
Holding Company. The comment period for this notice expired on February 
28, 2011. The Federal Reserve did not receive any comments.

    Board of Governors of the Federal Reserve System, March 7, 2011.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2011-5514 Filed 3-9-11; 8:45 am]
BILLING CODE 6210-01-P