Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations; Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations

Forms and Documents

Document Name	Status
CECL_20190328_omb.pdf Supporting Statement A	2019-03-28

IC Document Collections

IC ID	Document Title	Status
46647	Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations Instruction	Modified
46646	Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations (annual) Other-Draft Form	Modified
36062	Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations (quarterly) Other-Draft Form	Modified

ICR Details

OMB Control No: 7100-0073	ICR Reference No: 201903-7100-013
Status: Active	Previous ICR Reference No: 201811-7100-001
Agency/Subagency: FRS	Agency Tracking No: FR 2314; FR 2314S
Title: Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations; Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations
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: 03/29/2019
	Date Received in OIRA: 03/29/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2022	36 Months From Approved	08/31/2021
Responses	2,295	0	2,295
Time Burden (Hours)	14,664	0	13,467
Cost Burden (Dollars)	0	0	0

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Abstract: The FR 2314 reporting forms collect financial information for non-functionally regulated direct or indirect foreign subsidiaries of U.S. state member banks (SMBs), Edge and agreement corporations, and holding companies (i.e., bank holding companies, savings and loan holding companies, securities holding companies, and intermediate holding companies). Parent organizations (SMBs, Edge and agreement corporations, or holding companies) file the FR 2314 on a quarterly or annual basis, or the FR 2314S on an annual basis, predominantly based on whether the organization meets certain asset size thresholds. The FR 2314 data are used to identify current and potential problems at the foreign subsidiaries of U.S. parent companies, to monitor the activities of U.S. banking organizations in specific countries, and to develop a better understanding of activities within the industry, in general, and of individual institutions, in particular.

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Authorizing Statute(s): US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 1467a(b) Name of Law: Home Owners’ Loan Act
   US Code: 12 USC 1850a Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 12 USC 324 Name of Law: Federal Reserve Act
   US Code: 12 USC 602 Name of Law: Federal Reserve Act
   US Code: 12 USC 625 Name of Law: Federal Reserve Act
   US Code: 12 USC 3106 Name of Law: International Banking Act of 1978
  

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 63870	12/12/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 11783	03/28/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations (quarterly)	FR 2314	Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations
Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations (annual)	FR 2314	Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations
Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations	FR 2314S	Abbreviated Financial Statements of Foreign Subsidiaries of U.S. 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	2,295	2,295	0	0	0	0
Annual Time Burden (Hours)	14,664	13,467	0	1,197	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 estimated total annual burden for the FR 2314 family of reports is 13,467 hours and will increase to 14,664 hours. The average estimated hours per response for the FR 2314 filers will increase from 6.6 hours to 7.2 hours, an increase of 0.6 hours.

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Annual Cost to Federal Government: $83,200

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]? 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: 03/29/2019

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