Financial Statements of U.S. Nonbank Subsidiaries Held by FBOs, Abbreviated Financial Statements of U.S. Nonbank Subsidiares Held by FBOs, Capital and Asset Report for Foreign Banking Organizations

ICR 201412-7100-001

OMB: 7100-0125

Federal Form Document

ICR Details
7100-0125 201412-7100-001
Historical Active 201403-7100-008
FRS FR Y-7N, FR Y-7NS, FR Y-7Q
Financial Statements of U.S. Nonbank Subsidiaries Held by FBOs, Abbreviated Financial Statements of U.S. Nonbank Subsidiares Held by FBOs, Capital and Asset Report for Foreign Banking Organizations
Revision of a currently approved collection   No
Delegated
Approved without change 12/03/2014
Retrieve Notice of Action (NOA) 12/03/2014
  Inventory as of this Action Requested Previously Approved
03/31/2017 03/31/2017 03/31/2017
1,401 0 1,401
6,559 0 6,439
0 0 0

The FR Y-7N and FR Y-7NS collect financial information for non-functionally regulated U.S. nonbank subsidiaries held by foreign banking organizations (FBOs) other than through a U.S. bank holding company, U.S. financial holding company or U.S. bank. The FR Y-7Q collects consolidated regulatory capital information from all FBOs. The Federal Reserve System uses the 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.

US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 5 USC 552(b)(4) and (b)6) Name of Law: Freedom of Information Act
   US Code: 12 USC 3106(c) and 3108 Name of Law: International Banking Act
  
US Code: 12 USC 5365 Name of Law: Dodd-Frank Act

Not associated with rulemaking

  79 FR 34753 06/18/2014
79 FR 69476 11/21/2014
Yes

  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 1,401 1,401 0 0 0 0
Annual Time Burden (Hours) 6,559 6,439 120 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The Federal Reserve is collecting one new data item to implement the enhanced prudential standards for foreign banking organizations adopted pursuant to section 165 of the Dodd-Frank Act (DFA Section 165), Enhanced Prudential Standards for Large Domestic and Foreign Banking Organizations. The proposed revisions to the FR Y-7Q would result in an increase in burden of 120 hours.

$183,547
No
No
No
Yes
No
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.
12/03/2014


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