[Federal Register Volume 83, Number 1 (Tuesday, January 2, 2018)]
[Notices]
[Pages 123-125]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-28290]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
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SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, with revision,
the mandatory Financial Statements for Holding Companies (FR Y-9; OMB
No. 7100-0128).
On June 15, 1984, the Office of Management and Budget (OMB)
delegated to the Board authority under the Paperwork Reduction Act
(PRA) to approve of and assign OMB control numbers to collection of
information requests and requirements 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.
DATES: Comments must be submitted on or before March 5, 2018.
ADDRESSES: You may submit comments, identified by FR Y-9C, FR Y-9LP, FR
Y-9SP, FR Y-9ES, or FR Y-9CS, by any of the following methods:
Agency website: 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: Ann E. Misback, 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 website 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
3515, 1801 K Street (between 18th and 19th Streets NW) Washington, DC
20006 between 9:00 a.m. and 5:00 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 website 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 Clearance Officer--Nuha Elmaghrabi--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 Proposal
The Board invites public comment on the following information
collection, which is being reviewed under authority delegated by the
OMB under the PRA. 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 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 Federal
Reserve should modify the proposal prior to giving final approval.
Proposal To Approve Under OMB Delegated Authority the Extension for
Three Years, With Revision, of the Following Report
Consolidated Financial Statements for Holding Companies, Parent
Company Only Financial Statements for Large Holding Companies, Parent
Company Only Financial Statements for Small Holding Companies,
Financial Statement for Employee Stock Ownership Plan Holding
Companies, and the Supplement to the Consolidated Financial Statements
for Holding Companies.
Agency form number: FR Y-9C, FR Y-9LP, FR Y-9SP, FR Y-9ES, and FR
Y-9CS.
OMB control number: 7100-0128.
Frequency: Quarterly and semiannually.
Reporters: Bank holding companies (BHCs), savings and loan holding
companies (SLHCs), securities holding companies (SHCs), and U.S.
Intermediate Holding Companies (IHCs) (collectively, holding companies
(HCs)).
Estimated annual reporting hours: FR Y-9C (non-advanced approaches
holding companies): 125,357 hours; FR Y-9C (advanced approached holding
companies): 3,556 hours; FR Y-9LP: 16,969 hours; FR Y-9SP: 42,919; FR
Y-9ES: 42 hours; FR Y-9CS: 472 hours.
Estimated average hours per response: FR Y-9C (non-advanced
approaches holding companies): 48.14 hours; FR Y-9C (advanced
approached holding companies HCs): 49.39 hours; FR Y-9LP: 5.27 hours;
FR Y-9SP: 5.40 hours FR Y-9ES: 0.50 hours; FR Y-9CS: 0.50 hours.
Number of respondents: FR Y-9C (non-advanced approaches holding
companies): 651; FR Y-9C (advanced approached holding companies): 18;
FR Y-9LP: 805; FR Y-9SP: 3,974 FR Y-9ES: 84; FR Y-9CS: 236.
General description of report: Pursuant to the Bank Holding Company
Act of 1956 (BHC Act), as amended, and the Home Owners' Loan Act
(HOLA), the Federal Reserve requires HCs to provide standardized
financial statements to fulfill the Federal Reserve's statutory
obligation to supervise these organizations. HCs file the FRY-9C and FR
Y-9LP quarterly, and the FR Y-9SP semiannually, the FR Y-9ES annually,
and the FR Y-9CS on a schedule that is determined when this supplement
is used.
Proposed revisions: The Board proposes a number of revisions to the
FR Y-9C requirements, most of which are consistent with proposed
changes to the Federal Financial Institutions Examination Council
(FFIEC) Consolidated Reports of Condition and Income (Call Reports)
(FFIEC 031, FFIEC 041, and FFIEC 051; OMB No. 7100-0036). The proposed
revisions to the FR Y-9C include deletions and consolidations of
existing data items into new data items, reductions in reporting
frequency, and new and
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revised reporting thresholds for certain data items. The Board also
proposes to make changes to the reporting forms and instructions for
the FR Y-9C, FR Y-9LP, and FR Y-9SP to implement accounting changes
pertaining to equity securities under Accounting Standards update (ASU
No. 2016-01, ``Recognition and Measurement of Financial Assets and
Financial Liabilities.''). The accounting changes pertaining to equity
securities would be effective beginning with the reports reflecting the
March 31, 2018, report date and June 30, 2018 for all other changes.
The proposed changes include:
Deleting and combining of certain data items pertaining to
(1) Goodwill and Other intangible assets from Schedule HC, Balance
Sheet; (2) U.S. Government agency obligations and structured financial
products from Schedule HC-B, Securities; (3) Structured financial
products and certain loans and the unpaid principal balance of such
loans on Schedule HC-D, Trading Assets; (4) Certain over-the counter
derivatives on Schedule HC-L, Derivatives and Off-Balance sheet items,
and (5) Purchased credit card relationships and nonmortgage servicing
assets from Schedule HC-M, Memoranda;
Deleting two preprinted captions for other noninterest
income on Schedule HI, Income Statement and certain data items on
Schedule HC-D, Trading Assets and Liabilities;
Deleting Column B (Domestic Office) from Schedule HC-D,
Trading Assets and Liabilities
Reducing the reporting frequency from quarterly to
semiannual and from quarterly to annual for certain data items on the
FR Y-9C report
Increasing and adding reporting thresholds for certain
data items in four FR Y-9C schedules
Revising the reporting forms and instructions to implement
the reporting of equity securities under ASU-2016-01 and
Moving ``Goodwill'' from Schedule HC to Schedule HC-M,
Memoranda.
Legal authorization and confidentiality: The Board's Legal Division
has determined that the FR Y-9 family of reports is authorized by
section 5(c) of the Bank Holding Company Act (12 U.S.C. 1844(c)),
section 10 of Home Owners' Loan Act (12 U.S.C. 1467a(b) and
1850a(c)(1)), section 165 of the Dodd-Frank Act (12 U.S.C. 5365), and
section 252.153(b)(2) of Regulation YY (12 CFR 252.153(b)(2)). The
obligation of covered HCs to report this information is mandatory. In
general, the Board does not consider the financial data in these
reports to be confidential. However, a respondent may request
confidential treatment pursuant to sections (b)(4), (b)(6), and (b)(8)
of the Freedom of Information Act (5 U.S.C. 552(b)(4), (b)(6), and
(b)(8)). The applicability of these exemptions would need to be
reviewed on a case by case basis.
Board of Governors of the Federal Reserve System, December 27,
2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-28290 Filed 12-29-17; 8:45 am]
BILLING CODE 6210-01-P