Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation NN

ICR 202208-7100-001

OMB: 7100-0353

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2022-08-02
ICR Details
7100-0353 202208-7100-001
Active 201908-7100-007
FRS FR NN
Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation NN
Extension without change of a currently approved collection   No
Delegated
Approved without change 08/02/2022
Retrieve Notice of Action (NOA) 08/02/2022
  Inventory as of this Action Requested Previously Approved
08/31/2025 36 Months From Approved 08/31/2022
5 0 5
1,956 0 1,956
0 0 0

The Board’s Regulation NN - Retail Foreign Exchange Transactions (12 CFR Part 240) establishes rules appliable to retail foreign currency transactions engaged in by state member banks, uninsured state-licensed branches of foreign banks, financial holding companies, bank holding companies, savings and loan holding companies, agreement corporations, and Edge corporations (collectively, banking institutions). Regulation NN includes certain reporting, recordkeeping, and disclosure requirements for banking institutions that elect to provide foreign currency exchange services to retail consumers.

US Code: 7 USC 2(c)(2)(E) Name of Law: Commodity Exchange Act
   US Code: 12 USC 248 Name of Law: Federal Reserve Act
   US Code: 12 USC 3106a Name of Law: International Banking Act of 1978
   US Code: 12 USC 3108 Name of Law: International Banking Act of 1978
   US Code: 12 USC 1844(b) Name of Law: Bank Holding Company Act of 1956
   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 1467a(g) Name of Law: Home Owners’ Loan Act
   US Code: 12 USC 625 Name of Law: Federal Reserve Act
   US Code: 12 USC 601-604a Name of Law: Federal Reserve Act
  
None

Not associated with rulemaking

  86 FR 66561 11/23/2021
87 FR 11705 03/02/2022
No

  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 5 5 0 0 0 0
Annual Time Burden (Hours) 1,956 1,956 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
    No
    No
No
No
No
No
Robert Dahl 202 622-3119 [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.
08/02/2022


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