Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company

Forms and Documents

Document Name	Status
Form FR Y-3F Initial application Form	Modified
Form FR Y-3F Subsequent application Form	Modified
FRY3F_20180726_omb.pdf Supporting Statement A	2018-07-26

IC Document Collections

IC ID	Document Title	Status
36125	Initial application Form	Modified
185209	Subsequent application Form	Modified

ICR Details

OMB Control No: 7100-0119	ICR Reference No: 201807-7100-011
Status: Active	Previous ICR Reference No: 201412-7100-005
Agency/Subagency: FRS	Agency Tracking No: FR Y-3F
Title: Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company
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: 07/26/2018
	Date Received in OIRA: 07/26/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2021	36 Months From Approved	07/31/2018
Responses	6	0	6
Time Burden (Hours)	446	0	440
Cost Burden (Dollars)	0	0	0

---

Abstract: Under the Bank Holding Company Act (BHC Act), any company, including a company organized under the laws of a foreign country, that seeks to acquire a U.S. bank or bank holding company must receive prior approval from the Board to do so. Applicants must provide financial and managerial information, discuss the competitive effects of the proposed transaction, and discuss how the proposed transaction would enhance the convenience and needs of the community to be served. The Federal Reserve uses the information to determine, in part, whether to approve the application and, subsequently, the information is used for the Federal Reserve’s supervisory responsibilities with respect to the foreign banking organization in the United States.

---

Authorizing Statute(s): US Code: 12 USC 1842(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 1844(b) Name of Law: Bank Holding Company Act
   US Code: 12 USC 1842(a) Name of Law: Bank Holding Company Act
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 12762	03/23/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 34577	07/20/2018
Did the Agency receive public comments on this ICR? No

---

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

IC Title	Form No.	Form Name
Initial application	FR Y-3F	Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company
Subsequent application	FR Y-3F	Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company

---

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	6	6	0	0	0	0
Annual Time Burden (Hours)	446	440	0	6	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 revised total annual burden for these applications is estimated to be 446 hours. The current burden estimates are based on the average number of responses received over the last three years. The estimated average hours per response for initial entry is 91 hours and the estimated average hours per response for foreign organizations that have already received approval to establish a branch or agency or to acquire a U.S. bank is 71 hours.

---

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

---

Common Form ICR:  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:

(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: 07/26/2018

---