1550-0060 (Supporting Statement)

SUPPORTING STATEMENT
Savings Association Holding Company Report H-(b)11
OMB Control No. 1550-0060

A.

JUSTIFICATION

1.

Circumstances and Need

Section 10(b) of the Home Owners’ Loan Act and 12 CFR 584.1(a)(2) provide that each savings
and loan holding company is required to file an annual report H-(b)11 within 90 days of the end
of its fiscal year. Quarterly filings are also required within 45 days of the end of the first three
fiscal quarters, and should describe any material changes from the most recently filed H-(b)11.
If material changes have occurred during the fourth quarter, an H-(b)11 filing must be filed
within 45 days of the end of the holding company’s fiscal fourth quarter as well. In addition,
with this submission, OTS is clarifying reporting expectations and making plain language
changes in the instructions to this form.
The information gathered is essential for OTS to monitor whether savings and loan
holding companies are in compliance with applicable statutes, regulations, and conditions of
approval to acquire an insured savings association.
There is no third party requirement for the completion and submission of the H-(b)11 to
OTS.
2.

Use of Information Collected

OTS reviews the H-(b)11 filings to assess compliance with applicable laws and
regulations, as well as the impact of the holding company’s operations on the insured savings
association.
3.

Use of Technology to Reduce Burden

Currently, OTS requires only one original hard copy of the H-(b)11 filing, and that
respondents file the second copy as a PDF document. Having a PDF copy helps to streamline
any requests for copies of the filings made through the Freedom of Information Act.
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 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

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savings and loan holding company is unique, thus the documentation submitted is peculiar to
each such savings and loan holding company.
5.

Minimizing the Burden on Small Businesses

The statutory requirement makes no exception for small holding companies. However,
smaller holding companies will generally have fewer material changes, and thus less of a
reporting burden than larger holding companies whose operations are more complex.
6.

Consequences of Less Frequent Collection

OTS will be hampered in making timely assessments of the safety and soundness of
savings and loan holding company operations without this information collection.
7.

Special Circumstances Requiring Data Collection Inconsistent with 5 CFR Part 1320

This information collection will be conducted in a manner that is consistent with the
guidelines set forth in 5 CFR § 1320. The H-(b)11 reports are submitted directly to the
appropriate OTS Regional Office.
8.

Consultation with Persons Outside OTS

Notice of intent to renew this information collection was published in the Federal
Register on December 27, 2006 (71 FR 77869). OTS received no comments.
9.

Payments of Gifts
No payments or gifts will be made in connection with this information collection.

10.

Confidentiality

In most cases, the information collection is already in the public domain as part of the
holding company’s routine Securities and Exchange Commission disclosures. However, to the
extent that this information collection contains proprietary “managerial resources”, such as
biographical information or business models, a request for treating such information as
confidential can be made. The withholding of any information from public disclosure will be
done in conformity with subsections (b)(4), (6), and (8) of the Freedom of Information Act, 5
U.S.C. § 552.
11.

Information of a Sensitive Nature
No questions of a personally sensitive nature are required by this information collection.

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12.

Estimate of Annual Hour Burden

The estimated number of respondents is 1,012. Frequency of response is quarterly.
Number of hours per response is two hours. The total annual burden is 8,096 hours.
13.

Estimate of Annual Cost Burden

The average cost per respondent for this requirement is $25 an hour, and the total cost
relating to the collection is $202,400.
14.

Estimates of Annualized Cost to Government

There are no start-up costs associated with this collection of information, and there will
be no additional costs to the federal government involved in this collection, as a copy of the H(b)11 is maintained on OTS’s website, where holding companies can obtain copies for future
use, precluding the need for government printing and mailing.
15.

Reason for Change in Burden

The estimated burden under this information collection is an increase of 40 hours,
reflecting a slight increase in the number of respondents.
16.

Publication
The information will not be published.

17.

Expiration Date

We are not seeking approval to not display the expiration date for OMB approval of the
information collection.
18.

Exceptions
Not applicable.

B.

COLLECTIONS OF INFORMATION EMPLOYING STATISTICAL METHODS
Not applicable.