Interagency Bank Merger Act Application

Forms and Documents

Document Name	Status
Form FR 2070 Nonaffiliate Transactions Form and Instruction	Modified
Form FR 2070 Affiliate Transactions Form and Instruction	Modified
FR2070_20180530_omb.pdf Supporting Statement A	2018-05-30

IC Document Collections

IC ID	Document Title	Status
36186	Nonaffiliate Transactions Form and Instruction	Modified
179620	Affiliate Transactions Form and Instruction	Modified

ICR Details

OMB Control No: 7100-0171	ICR Reference No: 201805-7100-007
Status: Active	Previous ICR Reference No: 201708-7100-013
Agency/Subagency: FRS	Agency Tracking No: FR 2070
Title: Interagency Bank Merger Act Application
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: 05/30/2018
	Date Received in OIRA: 05/30/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2021	36 Months From Approved	06/30/2018
Responses	64	0	64
Time Burden (Hours)	1,864	0	1,800
Cost Burden (Dollars)	0	0	0

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Abstract: The Board, Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) each use this reporting form to collect information on bank merger proposals that require prior approval under the Bank Merger Act. Prior approval is required for merger transactions involving affiliated or nonaffiliated institutions and must be sought from the regulatory agency of the depository institution that would survive the proposed transaction. A merger transaction may include a merger, consolidation, assumption of deposit liabilities, or certain asset transfers between or among two or more institutions. The Board collects this information so that it may meet its statutory obligation of evaluating, with respect to every state member bank (SMB) merger proposal, the competitive effects, the adequacy of the financial and managerial resources of the institutions involved, future prospects, financial stability, and the effect on the convenience and needs of the affected communities.

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Authorizing Statute(s): US Code: 12 USC 1828(c) Name of Law: Federal Deposit Insurance 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:
	82 FR 45847	10/02/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 11521	03/15/2018
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Nonaffiliate Transactions	FR 2070	Interagency Bank Merger Act Application
Affiliate Transactions	FR 2070	Interagency Bank Merger Act Application

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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	64	64	0	0	0	0
Annual Time Burden (Hours)	1,864	1,800	0	64	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: No

Burden Reduction Due to:

Short Statement: The burden for the revised FR 2070 is estimated to be 1,864 hours annually for state member banks. The Board estimates that the proposed average response time would be 31 hours for applications filed to effect a merger, consolidation, assumption of deposit liabilities, or other combining transaction between nonaffiliated parties and 19 hours for applications filed to effect a corporate reorganization between affiliated parties.

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Annual Cost to Federal Government: $227,500

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.     Yes

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]? 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

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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: 05/30/2018

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