Notice by Financial Institutions of Government Securities Broker or Government Securities Dealer Activities; Notice by Financial Institutions of Termination of Activities as a Government Securities Br

Forms and Documents

Document Name	Status
Form Form G-FINW Reporting Form G-FINW Form	Modified
Form Form G-FINW Recordkeeping Form G-FINW Form	New
Form Form G-FIN Recordkeeping Form G-FIN Form	New
FormGFIN_FormGFINW_20200221_omb.pdf Supporting Statement A	2020-02-21

IC Document Collections

IC ID	Document Title	Status
46127	Reporting Form G-FINW Form	Modified
36251	Reporting Form G-FIN Other-Draft Form	Modified
240058	Recordkeeping Form G-FINW Form	New
240056	Recordkeeping Form G-FIN Form	New

ICR Details

OMB Control No: 7100-0224	ICR Reference No: 201912-7100-021
Status: Active	Previous ICR Reference No: 201606-7100-004
Agency/Subagency: FRS	Agency Tracking No: Form G-FIN; Form G-FINW
Title: Notice by Financial Institutions of Government Securities Broker or Government Securities Dealer Activities; Notice by Financial Institutions of Termination of Activities as a Government Securities Br
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: 02/21/2020
	Date Received in OIRA: 02/21/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2023	36 Months From Approved	02/29/2020
Responses	39	0	6
Time Burden (Hours)	36	0	5
Cost Burden (Dollars)	0	0	0

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Abstract: The Securities Exchange Act of 1934, as amended (the Act), requires financial institutions to notify their appropriate regulatory agency (ARA) prior to using the mails or any means or instrumentality of interstate commerce to engage in government securities broker or dealer activities, and to notify their ARA upon terminating such activities. The Board is the ARA for state member banks, foreign banks, uninsured state branches or state agencies of foreign banks, commercial lending companies owned or controlled by foreign banks, and Edge Act corporations (collectively, Board-regulated financial institutions). A Board-regulated financial institution must use Form G-FIN to register as a government securities broker or dealer or to amend a previously submitted Form G-FIN, and must use Form G-FINW to notify the Board of its termination of such activities.

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Authorizing Statute(s): US Code: 12 USC 3108 Name of Law: International Banking Act of 1978
   US Code: 12 USC 625 Name of Law: Federal Reserve Act
   US Code: 15 USC 78o-5(a)(1)(B)(i) Name of Law: Securities Exchange Act of 1934
   US Code: 12 USC 3106 Name of Law: International Banking Act of 1978
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
   US Code: 15 USC 78o-5(a)(1)(B)(ii) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-5(b)(1) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-5(b)(1)(C) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-5(b)(3)(A) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-5(a)(1)(B) Name of Law: Securities Exchange Act of 1934
  

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:
	84 FR 45491	08/29/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 70542	12/23/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Reporting Form G-FINW	Form G-FINW	Notice by Financial Institutions of Termination of Activities as a Government Securities Broker or Government Securities Dealer
Reporting Form G-FIN	Form G-FIN	Notice by Financial Institutions of Government Securities Broker or Government Securities Dealer Activities
Recordkeeping Form G-FIN	Form G-FIN	Notice by Financial Institutions of Government Securities Broker or Government Securities Dealer Activities
Recordkeeping Form G-FINW	Form G-FINW	Notice by Financial Institutions of Termination of Activities as a Government Securities Broker or Government Securities Dealer

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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	39	6	0	33	0	0
Annual Time Burden (Hours)	36	5	0	31	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 Form G-FIN and Form G-FINW is 5 hours, and would increase to 36 hours with the adopted revisions. The estimated number of respondents is based on the average number of combined files received in the past three years. With regard to the Board’s recordkeeping requirement associated with Form G-FIN and Form G-FINW, only foreign banks, commercial lending companies owned or controlled by foreign banks, and Edge Act corporations are included as respondents. The recordkeeping requirement with regard to the financial institutions that file Form G-FIN and Form G-FINW with the Board is imposed by the Treasury. Therefore, the estimated total annual recordkeeping burden for Form G-FIN and Form G-FINW is diminutive.

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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

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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: 02/21/2020

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