International Applications and Prior Notifications under Subpart B of Regulation K

Forms and Documents

Document Name	Status
Form FR K-2 International Applications and Prior Notifications under Subpart B of Regulation K Form and Instruction	Modified
FRK2_20180723_omb.pdf Supporting Statement A	2018-07-23

IC Document Collections

IC ID	Document Title	Status
36320	International Applications and Prior Notifications under Subpart B of Regulation K Form and Instruction	Modified

ICR Details

OMB Control No: 7100-0284	ICR Reference No: 201807-7100-010
Status: Active	Previous ICR Reference No: 201412-7100-003
Agency/Subagency: FRS	Agency Tracking No: FR K-2
Title: International Applications and Prior Notifications under Subpart B of Regulation K
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: 07/23/2018
	Date Received in OIRA: 07/23/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2021	36 Months From Approved	07/31/2018
Responses	14	0	14
Time Burden (Hours)	504	0	490
Cost Burden (Dollars)	0	0	0

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Abstract: Foreign banks are required to obtain the prior approval of the Board to establish a branch, agency, or representative office; to establish or acquire ownership or control of a commercial lending company in the United States; or to change the status of any existing office in the United States. The Board uses the information to determine, in part, whether to approve the application and, subsequently, the information is used to supervise foreign banking organizations with offices in the United States.

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Authorizing Statute(s): US Code: 12 USC 3105 Name of Law: International Banking Act
   US Code: 12 USC 3107 Name of Law: International Banking Act
   US Code: 12 USC 3108 Name of Law: International Banking 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:
	83 FR 12760	03/23/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 34579	07/20/2018
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
International Applications and Prior Notifications under Subpart B of Regulation K	FR K-2	International Applications and Prior Notifications under Subpart B of Regulation K

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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	14	14	0	0	0	0
Annual Time Burden (Hours)	504	490	0	14	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 current annual reporting burden for the FR K-2 is estimated to be 490 hours. The current burden estimate is based on the number of responses received during a typical year. The annual burden for the revised FR K-2 is estimated to increase slightly to 504 hours.

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Annual Cost to Federal Government: $0

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: 07/23/2018

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