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 Name of Law: International Banking Act
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.