[Federal Register Volume 79, Number 201 (Friday, October 17, 2014)]
[Notices]
[Pages 62442-62444]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-24690]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: On June 15, 1984, the Office of Management and Budget (OMB)
delegated to the Board of Governors of the Federal Reserve System
(Board) its approval authority under the Paperwork Reduction Act (PRA),
pursuant to 5 CFR 1320.16, to approve of and assign OMB control numbers
to collection of information requests and requirements conducted or
sponsored by the Board under conditions set forth in 5 CFR 1320
Appendix A.1. 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 instruments 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.
DATES: Comments must be submitted on or before December 16, 2014.
ADDRESSES: You may submit comments, identified by FR GTU, or FR 2030,
FR 2030a, FR 2056, FR 2086, FR 2086a, FR 2087, or FR 2083 by any of the
following methods:
Agency Web site: http://www.federalreserve.gov. Follow the
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
Email: [email protected]. Include OMB
number in the subject line of the message.
Fax: (202) 452-3819 or (202) 452-3102.
Mail: Robert deV. Frierson, Secretary, Board of Governors
of the Federal Reserve System, 20th Street and Constitution Avenue NW.,
Washington, DC 20551.
All public comments are available from the Board's Web site at
http://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted,
unless modified for technical reasons. Accordingly, your comments will
not be edited to remove any identifying or contact information. Public
comments may also be viewed electronically or in paper form in Room MP-
500 of the Board's Martin Building (20th and C Streets NW.) between 9
a.m. and 5 p.m. on weekdays.
Additionally, commenters may send a copy of their comments to the
OMB Desk Officer--Shagufta Ahmed--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: A copy of the PRA OMB submission,
including the proposed reporting form and instructions, supporting
statement, and other documentation will be placed into OMB's public
docket files, once approved. These documents will also be made
available on the Federal Reserve Board's public Web site at: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested
from the agency clearance officer, whose name appears below.
Federal Reserve Board Acting Clearance Officer--John Schmidt--
Office of the Chief Data Officer, Board of Governors of the Federal
Reserve System, Washington, DC 20551 (202) 452-3829. Telecommunications
Device for the Deaf (TDD) users may contact (202) 263-4869, Board of
Governors of the Federal Reserve System, Washington, DC 20551.
SUPPLEMENTARY INFORMATION:
Request for Comment on Information Collection Proposals
The following information collections, which are being handled
under this delegated authority, have received initial Board approval
and are hereby published for comment. At the end of the comment period,
the proposed information collections, along with an analysis of
comments and recommendations received, will be submitted to the Board
for final approval under OMB delegated authority. Comments are invited
on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
b. The accuracy of the Federal Reserve'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 start up costs and costs of operation,
maintenance, and purchase of services to provide information.
Proposal To Approve Under OMB Delegated Authority the Extension for
Three Years, Without Revision, of the Following Reports
1. Report titles: Registration Statement for Persons Who Extend
Credit Secured by Margin Stock (Other Than Banks, Brokers, or Dealers);
Deregistration Statement for Persons Registered Pursuant to Regulation
U; Statement of Purpose for an Extension of Credit Secured by Margin
Stock by a Person Subject to Registration Under Regulation U; Annual
Report; Statement of Purpose for an Extension of Credit by a Creditor;
and Statement of Purpose for an Extension of Credit Secured by Margin
Stock.
[[Page 62443]]
Agency form numbers: FR G-1, FR G-2, FR G-3, FR G-4, FR T-4, FR U-
1.
OMB control numbers: 7100-0011: FR G-1, FR G-2, FR G-4; 7100-0018:
FR G-3; 7100-0019: FR T-4; 7100-0115: FR U-1.
Frequency: FR G-1, FR G-2, FR G-3, FR T-4, and FR U-1: on occasion;
FR G-4: annual.
Reporters: Individuals and businesses.
Estimated annual reporting hours: 245 hours.
Estimated average hours per response: FR G-1: 2.5 hours; FR G-2: 15
minutes; FR G-3: 10 minutes; FR G-4: 2.0 hours; FR T-4: 10 minutes; FR
U-1: 10 minutes.
Number of respondents: FR G-1: 52; FR G-2: 25; FR G-3: 6; FR G-4:
12; FR T-4: 4; FR U-1: 4.
General description of reports: This information collection is
mandatory (15 U.S.C. 78g). In addition, the FR T-4 is required by
Section 220.6 of Regulation T (12 CFR 220.6), the FR U-1 is required by
Sections 221.3(c)(1)(i) and (2)(i) of Regulation U (12 CFR
221.3(c)(1)(i) and (2)(i)), and the FR G-1, G-2, G-3, and G-4 are
required by Sections 221.3(b)(1), (2), and (3), and (c)(1)(ii) and
(2)(ii) of Regulation U (12 CFR 221.3(b)(1), (2), and (3), and
(c)(1)(ii) and (2)(ii)).
The FR G-1 and FR G-4 collect financial information, including a
balance sheet, from nonbank lenders subject to Regulation U. Some of
these lenders may be individuals or nonbank entities that do not make
this information publicly available; release could therefore cause
substantial harm to the competitive position of the respondent or
result in an unwarranted invasion of personal privacy. In those cases,
the information could be withheld under Exemption 4 or Exemption 6 of
FOIA, 5 U.S.C. 552(b)(4) and (6), respectively. Confidentiality
determinations must be made on a case by case basis. Because the FR T-
4, FR U-1, and FR G-3 are not submitted to the Federal Reserve System,
and the FR G-2 does not contain any information considered to be
confidential, no confidentiality determination is necessary for these
reports.
Abstract: The Securities Exchange Act of 1934 authorizes the
Federal Reserve to regulate securities credit extended by brokers and
dealers, banks, and other lenders. The purpose statements, FR T-4, FR
U-1, and FR G-3, are recordkeeping requirements for brokers and
dealers, banks, and other lenders, respectively, to document the
purpose of their loans secured by margin stock. Margin stock is defined
as (1) stocks that are registered on a national securities exchange or
any over-the-counter security designated for trading in the National
Market System, (2) debt securities (bonds) that are convertible into
margin stock, and (3) shares of most mutual funds. Lenders other than
brokers and dealers and banks must register and deregister with the
Federal Reserve using the FR G-1 and FR G-2, respectively, and they
must file an annual report (FR G-4) while registered. The Federal
Reserve uses the data to identify lenders subject to Regulation U, to
verify their compliance with the regulation, and to monitor margin
credit.
2. Report title: Applications for Subscription to, Adjustment in
the Holding of, and Cancellation of Federal Reserve Bank Stock.
Agency form number: FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a,
FR 2087.
OMB control number: 7100-0042.
Frequency: On occasion.
Reporters: National, State Member, and Nonmember banks.
Estimated annual reporting hours: FR 2030: 2 hours; FR 2030a: 1
hour; FR 2056: 667 hours; FR 2086: 23 hours; FR 2086a: 40 hours; FR
2087: 1 hour.
Estimated average hours per response: .5 hours.
Number of respondents: FR 2030: 4; FR 2030a: 2; FR 2056: 1,333; FR
2086: 45; FR 2086a: 79; FR 2087: 1.
General description of report: These information collections are
mandatory.
FR 2030 and FR 2030a: Section 2 of the Federal Reserve Act
[12 U.S.C. 222 and 282] and Sections 9 and 11(a) of the Federal Reserve
Act [12 U.S.C. 248(a) and 321];
FR 2056: Section 5 of the Federal Reserve Act [12 U.S.C.
287] and Sections 11(a) and (i) of the Federal Reserve Act [12 U.S.C.
248(a) and (i)];
FR 2086: Section 5 of the Federal Reserve Act [12 U.S.C.
287] and Sections 11(a) and (i) of the Federal Reserve Act [12 U.S.C.
248(a) and (i)];
FR 2086a: Section 9 of the Federal Reserve Act [12 U.S.C.
321], Section 5 of the Federal Reserve Act [12 U.S.C. 287], and Section
11(a) of the Federal Reserve Act [12 U.S.C. 248(a)]; and
FR 2087: Section 6 of the Federal Reserve Act [12 U.S.C.
288] and Sections 11(a) and (i) of the Federal Reserve Act [12 U.S.C.
248 (a) and (i)].
The information solicited in these application forms is not
considered confidential, but applicants may request that parts of the
forms be kept confidential. Any request for confidential treatment of
information must be accompanied by a detailed justification for
confidentiality. For example, a justification for confidential
treatment of business information under exemption 4 of the Freedom of
Information Act (FOIA), 5 U.S.C. 552(b)(4), should demonstrate that
substantial harm would result from public release of the information.
Submissions of these forms may also be exempt under exemption 6 of
FOIA, 5. U.S.C. 552(b)(6), if a submitter identifies information of a
personal nature the disclosure of which would result in a clearly
unwarranted invasion of personal privacy. Additionally, exemption 8 of
FOIA, 5 U.S.C. 552(b)(8) may apply to the extent the reported
information is contained in or related to examination reports. Each
request for confidentiality that is received by a submitter of these
forms will need to be reviewed on a case-by-case basis.
Abstract: These application forms are required by the Federal
Reserve Act and Regulation I. These forms must be used by a new or
existing member bank (including a national bank) to request the
issuance, and adjustment in, or cancellation of Federal Reserve Bank
stock. The forms must contain certain certifications by the applicants,
as well as certain other financial and shareholder data that is needed
by the Federal Reserve to process the request.
3. Report title: Application for Membership in the Federal Reserve
System.
Agency form number: FR 2083, 2083A, 2083B, and 2083C.
OMB control number: 7100-0046.
Frequency: On occasion.
Reporters: Newly organized banks that seek to become state member
banks, or existing banks or savings institutions that seek to convert
to state member bank status.
Estimated annual reporting hours: 184 hours.
Estimated average hours per response: 4 hours.
Number of respondents: 46.
General description of report: This information collection is
mandatory (Section 9 of the Federal Reserve Act [12 U.S.C. 321, 322,
and 333]). The information solicited in this application form is not
considered confidential, but applicants may request that parts of the
form be kept confidential. Any request for confidential treatment of
information must be accompanied by a detailed justification for
confidentiality. For example, a justification for confidential
treatment of business information under exemption 4 of the Freedom of
Information Act (FOIA), 5 U.S.C. 552(b)(4), should demonstrate that
substantial harm would result from public release of the information.
Submissions of this form may also be exempt under exemption 6 of FOIA,
5. U.S.C. 552(b)(6), if a submitter identifies
[[Page 62444]]
information of a personal nature the disclosure of which would result
in a clearly unwarranted invasion of personal privacy. Additionally,
exemption 8 of FOIA, 5 U.S.C. 552(b)(8) may apply to the extent the
reported information is contained in or related to examination reports.
Each request for confidentiality that is received by a submitter of
this form will need to be reviewed on a case-by-case basis.
Abstract: The application for membership is a required one-time
submission that collects the information necessary for the Federal
Reserve to evaluate the statutory criteria for admission of a new or
existing state bank into membership in the Federal Reserve System. The
application collects managerial, financial, and structural data.
Board of Governors of the Federal Reserve System, October 14,
2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014-24690 Filed 10-16-14; 8:45 am]
BILLING CODE 6210-01-P