Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company

Forms and Documents

Document Name	Status
FRY3F_201409_83c.pdf Justification for No Material/Nonsubstantive Change	2014-09-23

IC Document Collections

IC ID	Document Title	Status
36125	Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company Instruction	Unchanged
185209	Application for a Foreign Organization to Acquire a Bank Holding Company Instruction	Modified

ICR Details

OMB Control No: 7100-0119	ICR Reference No: 201409-7100-016
Status: Historical Active	Previous ICR Reference No: 201101-7100-002
Agency/Subagency: FRS	Agency Tracking No: FR Y-3F
Title: Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/28/2014
	Date Received in OIRA: 09/28/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2015	03/31/2015	03/31/2015
Responses	6	0	8
Time Burden (Hours)	440	0	580
Cost Burden (Dollars)	0	0	0

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Abstract: Under the Bank Holding Company Act, submission of this application is required for any company organized under the laws of a foreign country seeking to acquire a U.S. subsidiary bank or bank holding company. Applicants must provide financial and managerial information, discuss the competitive effects of the proposed transaction, and discuss how the proposed transaction would enhance the convenience and needs of the community to be served. The Federal Reserve uses the information, in part, to fulfill its supervisory responsibilities with respect to foreign banking organizations in the United States.

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Authorizing Statute(s): US Code: 12 USC 1842(a) and (c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 1844(a) thru (c) Name of Law: Bank Holding Company 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:
	75 FR 81607	12/28/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 13188	03/10/2011
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company	FR Y-3F	Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company
Application for a Foreign Organization to Acquire a Bank Holding Company	FR Y-3F	Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company

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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	6	8	0	0	-2	0
Annual Time Burden (Hours)	440	580	0	0	-140	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: Decrease in burden hours reflects update to the respondent count.

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Annual Cost to Federal Government: $0

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]? No

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: 09/28/2014

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