Request for Extension of Time to Dispose of Assets Acquired in Satisfaction of Debts Previously Contracted

ICR 201909-7100-006

OMB: 7100-0129

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2019-09-18
IC Document Collections
IC ID
Document
Title
Status
36161
Modified
237788
New
ICR Details
7100-0129 201909-7100-006
Active 201908-7100-014
FRS FR 4006
Request for Extension of Time to Dispose of Assets Acquired in Satisfaction of Debts Previously Contracted
Revision of a currently approved collection   No
Delegated
Approved without change 09/18/2019
Retrieve Notice of Action (NOA) 09/18/2019
  Inventory as of this Action Requested Previously Approved
09/30/2022 36 Months From Approved 12/31/2019
63 0 42
315 0 210
0 0 0

The Bank Holding Company Act of 1956 (BHC Act) and the Board’s Regulation Y - Bank Holding Companies and Change in Bank Control (12 CFR 225) require a bank holding company (BHC) that acquired voting securities of a bank or BHC or the securities or assets of a company engaged in a nonbanking activity through foreclosure or otherwise in the ordinary course of collecting a debt previously contracted (DPC) to seek prior Board approval in order to retain ownership of those shares or assets for more than two years. There are no required reporting forms associated with this information collection (the FR 4006 designation is for internal purposes only).

US Code: 12 USC 1842(a) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 1843(c)(2) Name of Law: Bank Holding Company Act of 1956
  
None

Not associated with rulemaking

  84 FR 13044 04/03/2019
84 FR 40055 08/13/2019
No

2
IC Title Form No. Form Name
Section 225.12(b)
Section 225.22(d)(1)

  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 63 42 0 21 0 0
Annual Time Burden (Hours) 315 210 0 105 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
The estimated total annual burden for the FR 4006 is 210 hours and would increase to 315 hours with the adopted revisions. The respondent burden per extension request is estimated to average five hours per submission. However, the respondent burden varies depending upon the complexity of the individual situation. The Board received an average of 42 requests for extension over the last two years for the section 225.22(d)(1) requirements. The Board expects that the revision would add 21 extension requests for the section 225.12(b) requirements.

$0
No
    No
    No
No
No
No
Uncollected
Lois Lawrence 202-452-2984 [email protected]

  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:
 
 
 
 
 
 
 
    (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.
09/18/2019


© 2024 OMB.report | Privacy Policy