Statement of Purpose for an Extension of Credit Secured by Margin Stock by a Person Subject to Registration Under Regulation U

ICR 201501-7100-007

OMB: 7100-0018

Federal Form Document

ICR Details
7100-0018 201501-7100-007
Historical Active 201409-7100-004
FRS FR G-3
Statement of Purpose for an Extension of Credit Secured by Margin Stock by a Person Subject to Registration Under Regulation U
Extension without change of a currently approved collection   No
Delegated
Approved without change 01/29/2015
Retrieve Notice of Action (NOA) 01/29/2015
  Inventory as of this Action Requested Previously Approved
01/31/2018 36 Months From Approved 01/31/2015
120 0 120
20 0 20
0 0 0

The Securities Exchange Act of 1934 ('34 Act) authorizes the Federal Reserve to regulate securities credit extended by brokers and dealers, banks, and other lenders. The purpose statements, FR U-1 and FR G-3, are recordkeeping requirements for banks and other lenders, respectively, to document the purpose of their loans secured by margin stock. Margin stock is defined as (1) stocks that are registered on a national securities exchange or any over-the-counter security designated for trading in the National Market System, (2) debt securities (bonds) that are convertible into margin stock, and (3) shares of most mutual funds. Lenders other than brokers and dealers and banks must register and deregister with the Federal Reserve using the FR G-1 and FR G-2, respectively, and they must file an annual report (FR G-4) while registered. The Federal Reserve uses the data to identify lenders subject to Regulation U, to verify their compliance with the regulation, and to monitor margin credit. The FR T-4 is a purpose statement for brokers and dealers.

US Code: 15 USC 78g Name of Law: Securities Exchange Act of 1934
   US Code: 5 USC 552(b)(4) Name of Law: Freedom of Information Act
   US Code: 5 USC 552(b)(6) Name of Law: Freedom of Information Act
  
None

Not associated with rulemaking

  79 FR 62442 10/17/2014
80 FR 2932 01/21/2015
No

  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 120 120 0 0 0 0
Annual Time Burden (Hours) 20 20 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
No
No
No
Uncollected
Daniel Newman 202 973-7409 [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.
01/29/2015


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