Reports of Foreign Banking Organizations

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form FR Y-7Q Capital and Asset Report for Foreign Banking Organizations	Form	Modified	Available
Form FR Y-7Q Capital and Asset Report for Foreign Banking Organizations	Form	Modified	Available
Form FR Y-7NS Abbreviated Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations	Form	Modified	Available
Form FR Y-7N Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations	Form	Modified	Available
Form FR Y-7N Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations	Form	Modified	Available
FRY7N_FRY7NS_FRY7Q_20161221_omb.pdf	Supporting Statement A	Uploaded 2016-12-21	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
46514	Capital and Asset Report for Foreign Banking Organizations (Annual)	Form	Modified	Capital and Asset Report for Foreign Banking Organizations
46514	Capital and Asset Report for Foreign Banking Organizations (Annual)	Instruction	Modified
46513	Capital and Asset Report for Foreign Banking Organizations (Quarterly)	Form	Modified	Capital and Asset Report for Foreign Banking Organizations
46513	Capital and Asset Report for Foreign Banking Organizations (Quarterly)	Instruction	Modified
46512	Abbreviated Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations	Form	Modified	Abbreviated Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations
46512	Abbreviated Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations	Instruction	Modified
46511	Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (Annual)	Form	Modified	Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations
46511	Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (Annual)	Instruction	Modified
46510	Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (Quarterly)	Form	Modified	Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations
46510	Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (Quarterly)	Instruction	Modified

ICR Details

OMB Control No: 7100-0125	ICR Reference No: 201612-7100-003
Status: Historical Active	Previous ICR Reference No: 201608-7100-019
Agency/Subagency: FRS	Agency Tracking No: FR Y-7N; FR Y-7NS; FR Y-7Q
Title: Reports of Foreign Banking Organizations
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/21/2016
Retrieve Notice of Action (NOA)	Date Received in OIRA: 12/21/2016
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2019	36 Months From Approved	03/31/2017
Responses	820	0	1,259
Time Burden (Hours)	3,108	0	5,227
Cost Burden (Dollars)	0	0	0

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Abstract: 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 (BHC), financial holding company (FHC), or U.S. bank. FBOs file the FR Y-7N quarterly or annually or the FR Y-7NS annually predominantly based on asset size thresholds. The FR Y-7Q collects consolidated regulatory capital information from all FBOs either quarterly or annually. The FR Y-7Q is filed quarterly by FBOs that have effectively elected to become U.S. FHCs and by FBOs that have total consolidated assets of $50 billion or more, regardless of FHC status. All other FBOs file the FR Y-7Q annually.

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Authorizing Statute(s): US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 3106(c) Name of Law: International Banking Act
   US Code: 12 USC 3108 Name of Law: International Banking Act
   US Code: 12 USC 5365 Name of Law: Dodd-Frank 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:
	81 FR 19179	04/04/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 88239	12/07/2016
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 5

table that charts list of burden

IC Title	Form No.	Form Name
Abbreviated Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations	FR Y-7NS	Abbreviated Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations
Capital and Asset Report for Foreign Banking Organizations (Annual)	FR Y-7Q	Capital and Asset Report for Foreign Banking Organizations
Capital and Asset Report for Foreign Banking Organizations (Quarterly)	FR Y-7Q	Capital and Asset Report for Foreign Banking Organizations
Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (Annual)	FR Y-7N	Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations
Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (Quarterly)	FR Y-7N	Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations

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ICR Summary of Burden

table that charts list 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	820	1,259	0	-439	0	0
Annual Time Burden (Hours)	3,108	5,227	0	-2,119	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The current annual reporting burden for this family of reports is estimated to be 5,227 hours. The proposed revisions to the FR Y-7Q would result in an increase in burden of 680 hours due to the increase in estimated average hours per response from 1.75 to 3. However, the number of FR Y-7N and FR Y-7NS respondents is estimated to decrease by 154, from 269 to 115, due to the designation by certain foreign banking organizations of IHCs. As a result of these changes, the total annual burden for this family of reports would decrease to an estimated 3,108 hours.

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Annual Cost to Federal Government: $183,547

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]? Yes

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: 12/21/2016

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