Notice of Proposed Stock Redemption

ICR 201606-7100-019

OMB: 7100-0131

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2016-06-29
IC Document Collections
IC ID
Document
Title
Status
36164
Modified
ICR Details
7100-0131 201606-7100-019
Historical Active 201305-7100-004
FRS FR 4008
Notice of Proposed Stock Redemption
Extension without change of a currently approved collection   No
Delegated
Approved without change 06/29/2016
Retrieve Notice of Action (NOA) 06/29/2016
  Inventory as of this Action Requested Previously Approved
06/30/2019 36 Months From Approved 06/30/2016
10 0 10
155 0 155
0 0 0

The Bank Holding Company Act (BHC Act) and Bank Holding Companies and Change in Bank Control (Regulation Y) generally require a BHC to seek prior Federal Reserve approval before purchasing or redeeming its equity securities. Given that a BHC is exempt from this requirement if it meets certain financial, managerial, and supervisory standards, only a small portion of proposed stock redemptions actually require the prior approval of the Federal Reserve. There is no formal reporting form (the FR 4008 designation is for internal purposes only) and each required request for prior approval must be filed as a notification with the Reserve Bank that has direct supervisory responsibility for the BHC. The Federal Reserve uses the information provided in the redemption notice to fulfill its statutory obligation to supervise BHCs.

US Code: 12 USC 1844(b) Name of Law: Bank Holding Company Act
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
  
None

Not associated with rulemaking

  81 FR 20384 04/07/2016
81 FR 42357 06/29/2016
No

1
IC Title Form No. Form Name
Notice of Proposed Stock Redemption

  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 10 10 0 0 0 0
Annual Time Burden (Hours) 155 155 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
No
No
No
Uncollected
Lois Lawrence 202-452-2984 [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.
06/29/2016


© 2024 OMB.report | Privacy Policy