Notifications Related to Community Development and Public Welfare Investments by State Member Banks Pursuant to Section 208.22 of Regulation H

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form FR H-6 Public welfare investment notice	Form and Instruction	Unchanged	Available
FRH6_20201228_omb.pdf	Supporting Statement A	Uploaded 2020-12-28	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
36310	Public welfare investment notice	Form and Instruction	Unchanged
184432	Extension of divestiture period		Removed
184431	Request for prior approval		Unchanged

ICR Details

OMB Control No: 7100-0278	ICR Reference No: 202012-7100-009
Status: Historical Active	Previous ICR Reference No: 202012-7100-006
Agency/Subagency: FRS	Agency Tracking No: FR H-6
Title: Notifications Related to Community Development and Public Welfare Investments by State Member Banks Pursuant to Section 208.22 of Regulation H
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: 12/28/2020
Retrieve Notice of Action (NOA)	Date Received in OIRA: 12/28/2020
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2023	36 Months From Approved	12/31/2020
Responses	206	0	207
Time Burden (Hours)	634	0	639
Cost Burden (Dollars)	0	0	0

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Abstract: Regulation H - Membership of State Banking Institutions in the Federal Reserve System (12 CFR Part 208) requires state member banks (SMBs) planning to make community development or public welfare investments to comply with the following Regulation H notification requirements: If the investment does not require prior Board approval per 12 CFR 208.22(b), a written notice must be sent to the appropriate Federal Reserve Bank in accordance with 12 CFR 208.22(c). If the investment does require prior Board approval per 12 CFR 208.22(d), a request for approval must be sent to the appropriate Federal Reserve Bank in accordance with 12 CFR 208.22(d).

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Authorizing Statute(s): US Code: 12 USC 338a Name of Law: Federal Reserve Act
   US Code: 12 USC 248(a) Name of Law: Federal Reserve Act
   US Code: 12 USC 324 Name of Law: Federal Reserve Act
  

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:
	85 FR 58052	09/17/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 83954	12/23/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
Extension of divestiture period
Public welfare investment notice	FR H-6	Notice of Community Development and Public Welfare Investments by State Member Banks Pursuant to Section 208.22 of Regulation H
Request for prior approval

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ICR Summary of Burden

table that charts list 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	206	207	0	-1	0	0
Annual Time Burden (Hours)	634	639	0	-5	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The estimated total annual burden for the FR H-6 is 639 hours, and would decrease to 634 hours with the revisions. The estimated number of respondents listed is based on the number of notices and requests received by the Federal Reserve in 2019.

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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? No

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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: 12/28/2020

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