Report of Changes in Organizational Structure; Supplement to the Report of Changes in Organizational Structure; Annual Report of Holding Companies; Annual Report of Foreign Banking Organizations

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form FR Y-7 Annual Report of Foreign Banking Organizations	Form	Modified	Repair queued
Form FR Y-6 Annual Report of Holding Companies	Form	Modified	Repair queued
Form FR Y-10 Report of Changes in Organizational Structure	Form	Modified	Available
FRY6_FRY7_FRY10_20121201_omb.pdf	Supporting Statement A	Uploaded 2012-11-30	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
46508	Supplement to the Reports of Changes in Organizational Structure		Modified
45554	Annual Report of Foreign Banking Organizations	Form	Modified
45553	Annual Report of Holding Companies	Form	Modified
36348	Report of Changes in Organizational Structure	Form	Modified
204991	FR Y-10 Verification		New

ICR Details

OMB Control No: 7100-0297	ICR Reference No: 201211-7100-007
Status: Historical Active	Previous ICR Reference No: 201205-7100-012
Agency/Subagency: FRS	Agency Tracking No: FR Y-10; FR Y-10E; FR Y-6; FR Y-7
Title: Report of Changes in Organizational Structure; Supplement to the Report of Changes in Organizational Structure; Annual Report of Holding Companies; Annual Report of Foreign 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: 12/02/2012
	Date Received in OIRA: 12/02/2012
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2015	36 Months From Approved	12/31/2014
Responses	21,501	0	18,571
Time Burden (Hours)	58,012	0	45,402
Cost Burden (Dollars)	0	0	0

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Abstract: The FR Y-10 is an event-generated information collection submitted by foreign banking organizations (FBOs); top-tier bank holding companies (BHCs); state member banks unaffiliated with a BHC; Edge and agreement corporations that are not controlled by a member bank, a domestic BHC, or a FBO; and nationally chartered banks that are not controlled by a BHC (with regard to their foreign investments only), to capture changes in their regulated investments and activities. The Federal Reserve uses the data to monitor structure information on subsidiaries and regulated investments of these entities engaged in banking and nonbanking activities. The FR Y-10E is a free-form supplement that may be used to collect additional structural information deemed to be critical and needed in an expedited manner. The FR Y-6 is an annual information collection submitted by top-tier BHCs and nonqualifying FBOs. It collects financial data, an organization chart, verification of domestic branch data, and information about shareholders. The Federal Reserve uses the data to monitor holding company operations and determine holding company compliance with the provisions of the Bank Holding Company Act (BHC Act) and Regulation Y (12 CFR 225). The FR Y-7 is an annual information collection submitted by qualifying FBOs to update their financial and organizational information with the Federal Reserve. The FR Y-7 collects financial, organizational, and managerial information. The Federal Reserve uses information to assess an FBO's ability to be a continuing source of strength to its U.S. operations and to determine compliance with U.S. laws and regulations.

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Authorizing Statute(s): US Code: 12 USC 1843(k), 1844(c)(1)(A) Name of Law: Bank Holding Company Act
   US Code: 12 USC 3106(a), 3108(a) Name of Law: International Banking Act
   US Code: 12 USC 321, 601, 602, 611a, 615, 625 Name of Law: Federal Reserve Act
   US Code: 12 USC 248(a)(1) Name of Law: Federal Reserve Act
   US Code: 12 USC 5412, 1850a(c)(1) Name of Law: Dodd-Frank Act
  

Citations for New Statutory Requirements: US Code: 12 USC 5412 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
US Code: 12 USC 1850a(c)(1) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010

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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:
	77 FR 34384	06/11/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 56842	09/14/2012
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 5

table that charts list of burden

IC Title	Form No.	Form Name
Annual Report of Holding Companies	FR Y-6	Annual Report of Holding Companies
Annual Report of Foreign Banking Organizations	FR Y-7	Annual Report of Foreign Banking Organizations
Report of Changes in Organizational Structure	FR Y-10	Report of Changes in Organizational Structure
Supplement to the Reports of Changes in Organizational Structure
FR Y-10 Verification

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ICR Summary of Burden

table that charts list 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	21,501	18,571	2,930	0	0	0
Annual Time Burden (Hours)	58,012	45,402	12,610	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: The current annual reporting burden for the structure report forms and instructions is estimated to be 45,402 hours. The proposed revisions result in a net increase in burden of 12,610 hours. The Federal Reserve estimates that most of the burden increase would be attributed to the 765 SLHCs that would be required to file the FR Y-10 and FR Y-6 reports. Since SLHCs represent less than 20 percent of all FR Y-10 respondents, the Federal Reserve estimates that the average hours per response for the FR Y-10 would only increase by 30 minutes across all respondents. In addition, the Federal Reserve estimates it would take, on average, 1.25 hours for SLHCs to complete the FR Y-10 supplement. The Federal Reserve does not believe that the changes to the ongoing FR Y-6 and FR Y-7 are significant enough to warrant a change in the average hours per response.

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Annual Cost to Federal Government: $2,362,850

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]? No

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

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

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: 12/02/2012

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