Statement of Purpose for an Extension of Credit Secured by Margin Stock by a Person Subject to Registration Under Regulation U

ICR 200711-7100-009

OMB: 7100-0018

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Modified
Justification for No Material/Nonsubstantive Change
2007-11-09
ICR Details
7100-0018 200711-7100-009
Historical Active 200503-7100-004
FRS FR G-3
Statement of Purpose for an Extension of Credit Secured by Margin Stock by a Person Subject to Registration Under Regulation U
No material or nonsubstantive change to a currently approved collection   No
Delegated
Approved without change 12/11/2007
Retrieve Notice of Action (NOA) 12/11/2007
  Inventory as of this Action Requested Previously Approved
03/31/2008 03/31/2008 03/31/2008
12,040 0 5,560
2,047 0 945
0 0 0

The Securities Exchange Act of 1934 ('34 Act) authorizes the Federal Reserve to regulate securities credit issued by banks, brokers and dealers, and other lenders. The purpose statement is a recordkeeping requirement for banks, brokers and dealers, and other lenders, respectively, to document the purpose of their loans secured by margin stock.

US Code: 15 USC 78g Name of Law: Securities Exchange Act of 1934
  
None

Not associated with rulemaking

No

  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 12,040 5,560 0 0 6,480 0
Annual Time Burden (Hours) 2,047 945 0 0 1,102 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
Increase in burden hours reflects an update to the method of estimating the number of respondents and the annual frequency. This purpose statement is used by creditors as an internal documentation tool and is not submitted to the Federal Reserve. The estimated number of respondents is derived from the 2007 U.S. Census Bureau's Statistical Abstract of the United States and information obtained from the Financial Industry Regulatory Authority. The annual frequency is based on an approximate number of new and renewed loans secured by margin stock.

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Scott Farmer 202-452-2253 [email protected]

  No

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.
12/11/2007


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