Recordkeeping Requirements Associated with Changes in Foreign Investments (Made Pursuant to Regulation K)

Forms and Documents

Document Name	Status
FR2064_20150819_omb.pdf Supporting Statement A	2015-08-19

IC Document Collections

IC ID	Document Title	Status
36113	Recordkeeping Requirements Associated with Changes in Foreign Investments (Made Pursuant to Regulation K)	Modified

ICR Details

OMB Control No: 7100-0109	ICR Reference No: 201507-7100-001
Status: Historical Active	Previous ICR Reference No: 201506-7100-001
Agency/Subagency: FRS	Agency Tracking No: FR 2064
Title: Recordkeeping Requirements Associated with Changes in Foreign Investments (Made Pursuant to Regulation K)
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: 08/19/2015
	Date Received in OIRA: 08/19/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2018	36 Months From Approved	11/30/2015
Responses	80	0	80
Time Burden (Hours)	160	0	160
Cost Burden (Dollars)	0	0	0

---

Abstract: The Federal Reserve uses the information to monitor investment in the international operations of U.S. banking organizations and to fulfill its supervisory responsibilities under Regulation K. Internationally active U.S banking organizations (member banks, Edge and agreement corporations, and bank holding companies) are required to maintain adequate internal records that demonstrate compliance with the investment provisions contained in Subpart A of Regulation K.

---

Authorizing Statute(s): US Code: 12 USC 3105 Name of Law: International Banking Act
   US Code: 12 USC 3108(a) Name of Law: International Banking Act
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 601 - 604a Name of Law: Federal Reserve Act
   US Code: 12 USC 611 - 631 Name of Law: Federal Reserve Act
   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
   US Code: 5 USC 552(b)(8) Name of Law: Freedom of Information Act
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 19986	04/14/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 36991	06/29/2015
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Recordkeeping Requirements Associated with Changes in Foreign Investments (Made Pursuant to Regulation K)

---

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	80	80	0	0	0	0
Annual Time Burden (Hours)	160	160	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:

---

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

---

Common Form ICR:  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:

(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: 08/19/2015

---