This collection of information
consists of information that must be filed in connection with
certain proposals involving the formation, acquisition, or merger
of a savings and loan holding company (SLHC). The Board requires
the submission of this filing from an applicant for regulatory and
supervisory purposes and to allow the Board to fulfill its
statutory obligations to review these transactions under section
l0(e) of the Home Owners’ Loan Act (HOLA) (12 U.S.C. 1461 et. seq.)
and the Board’s Regulation LL - Savings and Loan Holding Companies
(12 CFR 238.11). The Board uses the information submitted by
applicants to evaluate these transactions with respect to the
financial and managerial resources and future prospects of the
company(ies) and savings association(s) involved, the effect of the
acquisition on the savings association(s), the insurance risk to
the Deposit Insurance Fund, the convenience and needs of
communities to be served, and competitive effects.
The current estimated total
annual burden for the FR LL-10(e) is 7,500 hours but would decrease
to 900 hours. The average estimated hours per response would
decrease from 500 hours to 60 hours. The decrease in the estimated
time burden per response is partially attributable to a significant
reduction in the information collected due to the proposed
revisions to the FR LL-10(e). However, the majority of this
decrease is due to the Board’s use for the first time of its own
methodology for calculating the burden associated with the FR
LL-10(e). The previous burden estimate was based on the calculation
methodology used by the OTS to estimate the time burden associated
with filing the Form H-(e). When the Board inherited the form from
the OTS, the Board adopted the OTS’s estimates for time burden per
response, and has continued to use that estimate until now. In
connection with this proposal, the Board has estimated the time
burden per response using the same methodology that it uses for
other applications that have similar requirements. The Board does
not have access to the methodology that the OTS used to calculate
the estimated burden associated with filing Form H-(e), so it is
not possible to state how the methodologies differ, or the reasons
that the estimate using the Board’s methodology differs
significantly from that of the OTS. The revised burden estimates
are based on the number of applications and notifications,
including post-consummation notices, received in 2016 and
2017.
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.
Form Form H-(e) Application to Become a Savings and Loan Holding Company or to Acquire a Savings Association or Savings and Loan Holding Company
FRLL10e_20190529_omb.pdf
Application to Become a Savings and Loan Holding Company or to Acquire a Savings Association or Savings and Loan Holding Company