1550-NEW (SLHC Activities)

SUPPORTING STATEMENT
Permissible Activities of Savings and Loan Holding Companies
(New Collection)

A.

JUSTIFICATION

1.

Circumstances that make the collection necessary
The Office of Thrift Supervision (OTS) Holding Company Regulations implementing
section 10(c)(2)(F)(i) of Home Owners’ Loan Act (HOLA) provide authority for savings
and loan holding companies (SLHC) to only engage in activities that the Board of
Governors of the Federal Reserve System (FRB) has permitted under section 4(c)(8) of
the Bank Holding Company Act (BHCA), and do not provide authority for SLHCs to
engage in activities listed in other subsections of section 4(c) of the BHCA.
OTS is proposing to revise its regulations, at 12 CFR 584.2 and 584.2-2, to expand the
permissible activities of SLHC to the full extent permitted under the HOLA. Section
10(c)(4) of the HOLA requires prior OTS approval for SLHCs to engage in activities
pursuant to section 10(c)(2)(F)(i).1
In addition, OTS proposes to amend 12 CFR 584.4 to conform the regulation to the
statute that it is intended to implement, and to set forth standards that OTS will use to
evaluate applications submitted pursuant to the statutory application requirement.

2.

Use of the Information Collected
OTS will use the information collected to evaluate applications submitted under the
applicable approval standards.

3.

Consideration of the use of improved information technology
This information collection is not amenable to reduction through improved technology.
Since automated information systems may be used in a very limited capacity to obtain or
process the information required by the proposed information collection, and because
these systems vary from institution to institution, the use of improved technology to
reduce the burden is not applicable.

4.

Efforts to identify duplication
This information collection is not duplicative within the meaning of the PRA and OMB
regulations. Information that is similar to or that corresponds to information that could

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Section 10(c)(9) of HOLA, which, as described above, is a separate source of authority for SLHCs to engage in
activities, permits SLHCs to engage in any activity permissible for financial holding companies pursuant to section
4(k) of the BHCA. Section 4(k)(4)(F) of the BHCA permits financial holding companies to engage in section
4(c)(8) activities.

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serve OTS's purpose and need in this information collection is not being collected by any
other means or for any other purpose; nor is this information otherwise available in the
detail necessary to satisfy the purpose and need for which this collection of information is
undertaken. Each transaction is unique, thus the association submits documentation
peculiar to each such transaction.
5.

Methods used to minimize burden if the collection has a significant impact on a
substantial number of small entities
This information collection does not have a significant impact on a substantial number of
small entities.

6.

Consequences to the Federal program if the collection were conducted less
frequently
The information is submitted only when an SLHC requests approval to engage in certain
permissible activities, or when a SLHC seeks approval to acquire a non-controlling
interest of more than five percent of the voting stock of another SLHC or savings
association. It would not be possible for OTS to evaluate such action without the
requested information.

7.

Special circumstances necessitating collection inconsistent with 5 CFR part 1320
This information collection is conducted in a manner consistent with the guidelines set
out in 5 C.F.R. 1320. There are no specific recordkeeping requirements imposed by this
information collection.

8.

Consultation with persons outside the agency
OTS is publishing a Notice of Proposed Rulemaking and will carefully consider any
public comments received in response to that publication in developing the Final Rule.

9.

Payment to respondents
OTS provides no payments or gifts to respondents.

10.

Confidentiality
Not applicable.

11.

Information of a Sensitive Nature
None.

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12.

Burden estimate

Rule
Section

Subject

584.2-2

Application to
engage in
certain
activities

2

1

2

4

584.4

Application
by SLHC to
acquire noncontrolling
interest
exceeding
five percent
of nonsubsidiary
savings
association or
SLHC

2

1

2

4

13.

Number of
Respondents

Number of
Responses
per
Respondent

Average
Annual Burden
Hours per
Response

Annual
Disclosure &
Recordkeeping
Burden

Estimate of annualized costs to respondents
Not applicable.

14.

Estimate of annualized costs to the government
Not applicable.

15.

Analysis of change in burden
Because this is a new collection, the entire increase of eight burden hours is a program
change.

16.

Information regarding collections whose results are planned to be published for
statistical use
The results of these collections will not be published for statistical use.

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17.

Display of expiration date
Not applicable.

18.

Exceptions to certification statement
None.

B.

STATISTICAL METHODS
Not applicable.

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