Notifications Related to Community Development and Public Welfare Investments of State Member Banks

Forms and Documents

Document	Type	Status	Availability
Form FR H-6 FR H-6 Investment Notice	Form and Instruction	Unchanged	Repair queued
Form FR H-6 FR H-6 Extension of divesture period	Form and Instruction	Unchanged	Available
Form FR H-6 FR H -6 Application (Prior Approval)	Form and Instruction	Unchanged	Available
FRH6_201412_omb.pdf	Supporting Statement A	Uploaded 2014-12-17	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
36310	FR H-6 Investment Notice	Form and Instruction	Unchanged
184432	FR H-6 Extension of divesture period	Form and Instruction	Unchanged
184431	FR H -6 Application (Prior Approval)	Form and Instruction	Unchanged

ICR Details

OMB Control No: 7100-0278	ICR Reference No: 201410-7100-007
Status: Historical Active	Previous ICR Reference No: 201407-7100-002
Agency/Subagency: FRS	Agency Tracking No: FR H-6
Title: Notifications Related to Community Development and Public Welfare Investments of State Member Banks
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/19/2014
	Date Received in OIRA: 12/19/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2017	36 Months From Approved	03/31/2015
Responses	46	0	46
Time Burden (Hours)	182	0	182
Cost Burden (Dollars)	0	0	0

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Abstract: Regulation H requires state member banks planning to make community development or public welfare investments to comply with the Regulation H notification requirements: (1) If the investment does not require prior Board approval, a written notice must be sent to the appropriate Federal Reserve Bank; (2) if certain criteria are not met, and requires prior Board approval, a request for approval must be sent to the appropriate Federal Reserve Bank; and, (3) if the Board orders divestiture, but the bank cannot divest within the established time limit, a request or requests for extension of the divestiture period must be submitted to the appropriate Federal Reserve Bank.

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Authorizing Statute(s): US Code: 12 USC 338a Name of Law: Federal Reserve Act
   US Code: 5 USC 552(b)(4)(8) Name of Law: Freedom of Information 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:
	79 FR 57101	09/24/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 74088	12/15/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
FR H-6 Extension of divesture period	FR H-6	Notifications Related to Community Development and Public Welfare Investments of State Member Banks
FR H-6 Investment Notice	FR H-6	Notifications Related to Community Development and Public Welfare Investments of State Member Banks
FR H -6 Application (Prior Approval)	FR H-6	Notifications Related to Conmmunity Development and Public Welfare Investments of State Member Banks

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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	46	46	0	0	0	0
Annual Time Burden (Hours)	182	182	0	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:

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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: 12/19/2014

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