-
Savings Association Holding Company Report H-(b)11
OMB Control No. 1550-0060
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.
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 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 March 9, 2010 (75 FR 10863). 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.
12. Estimate of Annual Hour Burden
The estimated number of respondents is 951. Frequency of response is quarterly
(951 x 4 = 3,804 responses). Number of hours per response is two hours. The total annual burden is 7,608 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 $190,200.
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
OTS is citing a reduction in the inventory burden due to a decrease 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.
| File Type | application/msword |
| File Title | Part A: Justification |
| Author | OTS |
| Last Modified By | Ira Mills |
| File Modified | 2010-06-24 |
| File Created | 2010-02-19 |