The FR Y-10 is an event-generated report filed by top-tier domestic bank holding companies (BHCs), foreign banking organizations (FBOs), and state member banks unaffiliated with a BHC, to capture changes in their regulated investments and activities. The FR Y-6 is an annual information collection submitted by top-tier BHCs and nonqualifying FBOs. It collects financial data, an organization chart, and information about shareholders. The FR Y-7 is an annual information collection submitted by qualifying FBOs to update their financial and organizational information with the Federal Reserve.
The Federal Reserve proposes to revise the FR Y-10S by (1) requiring data as of December 31, 2006, for reportable entities established in 2006 and reportable entities that have experienced a change since December 31, 2005, (2) modifying the option for submitting data on the suspension of Securities and Exchange Commission reporting requirements to include termination of reporting requirements, and (3) modifying the instructions to address questions that arose during the first data collection. Also, the Federal Reserve proposes to revise the FR Y-6 by modifying the cover page to make the certification similar to the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C; OMB No. 7100-0128), to add a requirement for BHCs to indicate their public web addresses, and to add check boxes to indicate whether confidentiality has been requested for any of the data provided. Finally, the Federal Reserve proposes to revise the FR Y-7 by (1) modifying the cover page to make the certification similar to the proposed FR Y-6, to add a requirement for FBOs to provide their public web addresses, and to include check boxes to indicate whether confidentiality has been requested for any of the data submitted and (2) modifying the checklist to add check boxes for information provided, to delete the separate attestation, and to delete the confidentiality check box (now included on the cover page).
The following proposed changes would be effective June 30, 2007. The Federal Reserve proposes to (1) combine the FR Y-10, FR Y-10F, FR Y-10S, and FR 2058 into one event-generated reporting form, to be called the FR Y-10, (2) revise a question currently on the Banking and Nonbanking Schedules of the FR Y-10 regarding whether the company is consolidated in the respondentÂs financial statements, (3) add a box to the new Nonbanking Schedule to indicate that an entity is 100% owned, and (4) add check boxes to indicate whether confidentiality has been requested for any of the data provided. The Federal Reserve also proposes to create a free-form supplement that would be used to collect additional structural information deemed to be critical and needed in an expedited manner. This reporting form would be called the FR Y-10E.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Form FR Y-7 Annual Report of Foreign Banking Organizations
FRY10.200612.omb.doc
Supplement to the Reports of Changes in Organizational Structure (FR Y-10E)