Structure Reporting and Recordkeeping Requirements for Domestic and Foreign Banking Organizations

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form FR Y-7 Annual Report of Foreign Banking Organizations	Form	Modified	Available
Form FR Y-6 Annual Report of Holding Companies	Form	Modified	Available
Form FR Y-10 Report of Changes in Organizational Structure	Form	New	Available
Form FR Y-6 Annual Report of Holding Companies	Form	New	Available
Form FR Y-10 Report of Changes in Organizational Structure	Form	Modified	Available
FRY6_FRY7_FRY10_FRY10E_20221129_omb.pdf	Supporting Statement A	Uploaded 2022-11-29	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
45554	Reporting FR Y-7	Form	Modified	Annual Report of Foreign Banking Organizations
45554	Reporting FR Y-7	Instruction	Modified
45553	Reporting FR Y-6	Form	Modified	Annual Report of Holding Companies
45553	Reporting FR Y-6	Instruction	Modified
256927	Recordkeeping FR Y-10	Form	New	Report of Changes in Organizational Structure
256927	Recordkeeping FR Y-10	Instruction	New
256926	Recordkeeping FR Y-6	Form	New	Annual Report of Holding Companies
256926	Recordkeeping FR Y-6	Instruction	New
223035	Reporting FR Y-10E		Modified
217886	Reporting FR Y-10	Form	Modified	Report of Changes in Organizational Structure
217886	Reporting FR Y-10	Instruction	Modified

ICR Details

OMB Control No: 7100-0297	ICR Reference No: 202211-7100-004
Status: Historical Active	Previous ICR Reference No: 202202-7100-001
Agency/Subagency: FRS	Agency Tracking No: FR Y-6; FR Y-7; FR Y-10; FR Y-10E
Title: Structure Reporting and Recordkeeping Requirements for Domestic and Foreign Banking Organizations
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: 11/29/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 11/29/2022
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2025	36 Months From Approved	11/30/2022
Responses	38,394	0	21,290
Time Burden (Hours)	53,997	0	57,207
Cost Burden (Dollars)	0	0	0

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Abstract: This information collection comprises the following four reports: • Annual Report of Holding Companies (FR Y-6), which collects financial and organizational information from holding companies (HCs) and foreign banking organizations (FBOs) that are not “qualifying” FBOs under section 211.23 of the Board’s Regulation K - International Banking Operations (12 CFR Part 211), • Annual Report of Foreign Banking Organizations (FR Y-7), which collects financial and organizational information from qualifying FBOs, • Report of Changes in Organizational Structure (FR Y-10), which is an event-generated report that captures changes in organizational structure or regulated investments and activities of various Board-supervised entities, and • Supplement to the Report of Changes in Organizational Structure (FR Y-10E), which is a formless supplement to the FR Y-10 that the Board may use to collect additional structural information on an emergency basis.

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Authorizing Statute(s): US Code: 12 USC 1844(c)(1) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 1467a(b)(2) Name of Law: Home Owners’ Loan Act
   US Code: 12 USC 1850a(c)(1) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 5311(a)(1) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 12 USC 3106(a) Name of Law: International Banking Act of 1978
   US Code: 12 USC 3108(a) Name of Law: International Banking Act of 1978
   US Code: 12 USC 324 Name of Law: Federal Reserve Act
   US Code: 12 USC 602 Name of Law: Federal Reserve Act
   US Code: 12 USC 625 Name of Law: Federal Reserve Act
   US Code: 12 USC 5365 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection 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:
	87 FR 27639	05/09/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 73304	11/29/2022
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 6

table that charts list of burden

IC Title	Form No.	Form Name
Recordkeeping FR Y-10	FR Y-10	Report of Changes in Organizational Structure
Recordkeeping FR Y-6	FR Y-6	Annual Report of Holding Companies
Reporting FR Y-10	FR Y-10	Report of Changes in Organizational Structure
Reporting FR Y-10E
Reporting FR Y-6	FR Y-6	Annual Report of Holding Companies
Reporting FR Y-7	FR Y-7	Annual Report of Foreign Banking Organizations

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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	38,394	21,290	0	17,104	0	0
Annual Time Burden (Hours)	53,997	57,207	0	-3,210	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The estimated total annual burden for the FR Y-6, FR Y-7, FR Y-10, and FR Y-10E reports is 57,207 hours, and would decrease to 53,997 hours. The revisions would result in a decrease of 3,210 hours. The Board estimates that the average hours per response would decrease by 3 hours for the FR Y-6 and 1.5 hours for the FR Y-7. The decrease in burden is primarily due to the elimination of the requirement to file a full FR Y-6 report for firms that would check “No” in the proposed new checkboxes on the FR Y-6, the automation of the organization chart for the FR Y-6 and FR Y-7, and changes to the submission of the tiered structure information. The Board estimates that the average hours per response for the FR Y-6 and FR Y-10 recordkeeping requirements would be 0.5 hours each.

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Annual Cost to Federal Government: $2,730,600

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: 11/29/2022

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