Reports of Foreign Banking Organizations

Forms and Documents

Document Name	Status
Form FR Y-7Q Capital and Asset Report for Foreign Banking Organizations (Annual) Form	Unchanged
Form FR Y-7Q Capital and Asset Report for Foreign Banking Organizations (Quarterly) Form	Modified
Form FR Y-7NS Abbreviated Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations Form	Modified
Form FR Y-7N Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (Annual) Form	Modified
Form FR Y-7N Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (Quarterly) Form	Modified
FRY7N_FRY7NS_FRY7Q_20180315_83c.pdf Justification for No Material/Nonsubstantive Change	2018-03-15

IC Document Collections

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

ICR Details

OMB Control No: 7100-0125	ICR Reference No: 201803-7100-004
Status: Historical Active	Previous ICR Reference No: 201802-7100-018
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: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/15/2018
	Date Received in OIRA: 03/15/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2019	12/31/2019	12/31/2019
Responses	892	0	820
Time Burden (Hours)	3,431	0	3,108
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:
	80 FR 16386	03/27/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 52282	08/28/2015
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Capital and Asset Report for Foreign Banking Organizations (Quarterly)	FR Y-7Q	Capital and Asset Report for Foreign Banking Organizations
Capital and Asset Report for Foreign Banking Organizations (Annual)	FR Y-7Q	Capital and Asset Report for 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
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
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

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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	892	820	0	0	72	0
Annual Time Burden (Hours)	3,431	3,108	0	0	323	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: The increase in burden hours reflects an update to the respondent counts.

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Annual Cost to Federal Government: $183,547

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 03/15/2018

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