Reports of Foreign Banking Organizations

ICR 201612-7100-003

OMB: 7100-0125

Federal Form Document

ICR Details
7100-0125 201612-7100-003
Historical Active 201608-7100-019
FRS FR Y-7N; FR Y-7NS; FR Y-7Q
Reports of Foreign Banking Organizations
Revision of a currently approved collection   No
Delegated
Approved without change 12/21/2016
Retrieve Notice of Action (NOA) 12/21/2016
  Inventory as of this Action Requested Previously Approved
12/31/2019 36 Months From Approved 03/31/2017
820 0 1,259
3,108 0 5,227
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 (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.

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
  
None

Not associated with rulemaking

  81 FR 19179 04/04/2016
81 FR 88239 12/07/2016
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 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
Yes
Miscellaneous Actions
Yes
Miscellaneous Actions
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.

$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.
12/21/2016


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