Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations and Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations

Forms and Documents

Document Name	Status
Form FR 2314S Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations Form	Modified
Form FR 2314 (Annual) Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations Form	Modified
Form FR 2314 Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations Form	Modified
FRY11.2314.200703.omb.doc Supporting Statement A	0000-00-00

IC Document Collections

IC ID	Document Title	Status
46647	Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations Form	Modified
46646	Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations Form	Modified
36062	Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations Form	Modified

ICR Details

OMB Control No: 7100-0073	ICR Reference No: 200703-7100-001
Status: Historical Active	Previous ICR Reference No: 200701-7100-002
Agency/Subagency: FRS	Agency Tracking No: FR 2314, FR 2314S
Title: Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations and Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/28/2007
	Date Received in OIRA: 03/28/2007
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2008	03/31/2008	03/31/2008
Responses	1,233	0	1,233
Time Burden (Hours)	6,606	0	6,457
Cost Burden (Dollars)	0	0	0

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Abstract: The FR 2314 collects information on the assets, liabilities, off-balance-sheet items, and earnings from all active direct or indirect foreign subsidiaries of a U.S. bank, bank holding company or Edge or agreement corporation. The data are used to monitor the growth, profitability and activities of foreign subsidiaries.

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Authorizing Statute(s): US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 324, 602, 625 Name of Law: Federal Reserve Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 1325	01/11/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 14104	03/26/2007
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations	FR 2314S	Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations
Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations	FR 2314	Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations
Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations	FR 2314 (Annual)	Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	1,233	1,233	0	0	0	0
Annual Time Burden (Hours)	6,606	6,457	0	149	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Federal Reserve proposes to collect four new data items on the FR 2314 reporting forms to monitor the extension of negatively amortizing residential mortgage loans and to make them consistent with the proposed revision on the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C; OMB No. 7100-0128). The Federal Reserve also proposes to add a new section to the FR 2314 titled Notes to the Financial Statements. The Federal Reserve is not proposing any revisions to the FR 2314S.

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Annual Cost to Federal Government: $94,200

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 03/28/2007

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