[Federal Register Volume 61, Number 251 (Monday, December 30, 1996)]
[Notices]
[Pages 68746-68748]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-33161]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Proposed Collection;
Comment Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice.
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Background
On June 15, 1984, the Office of Management and Budget (OMB)
delegated to the Board of Governors of the Federal Reserve System
(Board) its approval authority under the Paperwork Reduction Act, as
per 5 CFR 1320.16, to approve of and assign OMB control numbers to
collection of information requests and requirements conducted or
sponsored by the Board under conditions set forth in 5 CFR 1320
Appendix A.1. The Federal Reserve may not conduct or sponsor, and the
respondent is not required to respond to, an information collection
that has been extended, revised, or implemented on or after October 1,
1995, unless it displays a currently valid OMB control number. Board-
approved collections of information will be incorporated into the
official OMB inventory of currently approved collections of
information. A copy of the OMB 83-I and supporting statement and the
approved collection of information instrument will be placed into OMB's
public docket files. The following information collections, which are
being handled under this delegated authority, have received initial
Board approval and are hereby published for comment. At the end of the
comment period, the proposed information collection, along with an
analysis of comments and recommendations received, will be submitted to
the Board for final approval under OMB delegated authority. Comments
are invited on the following:
a. Whether the proposed collections of information are necessary
for the proper performance of the Federal Reserve's functions;
including whether the information has practical utility;
b. The accuracy of the Federal Reserve's estimate of the burden of
the proposed information collections, including the validity of the
methodology and assumptions used;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected; and
d. Ways to minimize the burden of information collection on
respondents, including through the use of automated collection
techniques or other forms of information technology.
DATES: Comments must be submitted on or before February 28, 1997.
ADDRESSES: Comments, which should refer to the OMB control number or
agency form number, should be addressed to Mr. William W. Wiles,
Secretary, Board of Governors of the Federal Reserve System, 20th and C
Streets, N.W., Washington, DC 20551, or delivered to the Board's mail
room between 8:45 a.m. and 5:15 p.m., and to the security control room
outside of those hours. Both the mail room and the security control
room are accessible from the courtyard entrance on 20th Street between
Constitution Avenue and C Street, N.W. Comments received may be
inspected in room M-P-500 between 9:00 a.m. and 5:00 p.m., except as
provided in section 261.8 of the Board's Rules Regarding Availability
of Information, 12 CFR 261.8(a).
A copy of the comments may also be submitted to the OMB desk
officer for the Board: Alexander T. Hunt, Office of Information and
Regulatory Affairs,
[[Page 68747]]
Office of Management and Budget, New Executive Office Building, Room
3208, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Robert T. Maahs, Supervisory Financial
Analyst (202-872-4935) or Tina Robertson, Supervisory Financial Analyst
(202-452-2949). A copy of the proposed form, the Paperwork Reduction
Act Submission (OMB 83-I), supporting statement, and other documents
that will be placed into OMB's public docket files once approved may be
requested from the agency clearance officer, whose name appears below.
Mary M. McLaughlin, Chief, Financial Reports Section (202-452-3829),
Division of Research and Statistics, Board of Governors of the Federal
Reserve System, Washington, DC 20551. Telecommunications Device for the
Deaf (TDD) users may contact Dorothea Thompson (202-452-3544), Board of
Governors of the Federal Reserve System, Washington, DC 20551.
SUPPLEMENTARY INFORMATION:
General Information
Under the Bank Holding Company Act of 1956, as amended, the Board
is responsible for the supervision and regulation of all bank holding
companies. The FR Y-9 and FR Y-11 series of reports historically have
been, and continue to be, the primary source of financial information
on bank holding companies and their nonbanking activities between on-
site inspections. Financial information, as well as ratios developed
from these reports, are used to detect emerging financial problems, to
review performance for pre-inspection analysis, to evaluate bank
holding company mergers and acquisitions, and to analyze a holding
company's overall financial condition and performance as part of the
Federal Reserve System's overall supervisory responsibilities.
Proposal to approve under OMB delegated authority the revision of
the following reports:
1. Report title: Consolidated Financial Statements for Bank Holding
Companies
Agency form number: FR Y-9C
OMB control number: 7100-0128
Frequency: Quarterly
Reporters: Bank holding companies
Annual reporting hours: 188,682
Estimated average hours per response: Range from 5 to 1,250 hours
Number of respondents: 1,389
Small businesses are affected.
General description of report: The information collection is
mandatory 12 U.S.C. 1844(b) and (c) and 12 CFR 225.5(b). Confidential
treatment is not routinely given to the data in these reports. However,
confidential treatment for the reporting information, in whole or in
part, can be requested in accordance with the instructions to the form.
Data reported on the FR Y-9C, Schedule HC-H, Column A, requiring
information on ``assets past due 30 through 89 days and still
accruing'' and memoranda item 2 are confidential pursuant to Section
(b)(8) of the Freedom of Information Act 5 U.S.C. 552(b)(8).
The FR Y-9C consolidated financial statements are currently filed
by top-tier bank holding companies with total consolidated assets of
$150 million or more and by lower-tier bank holding companies that have
total consolidated assets of $1 billion or more. In addition, all
multibank bank holding companies with debt outstanding to the general
public or engaged in certain nonbank activities, regardless of size,
must file the FR Y-9C. The following bank holding companies are exempt
from filing the FR Y-9C, unless the Board specifically requires an
exempt company to file the report: bank holding companies that are
subsidiaries of another bank holding company and have total
consolidated assets of less than $1 billion; bank holding companies
that have been granted a hardship exemption by the Board under section
4(d) of the Bank Holding Company Act; and foreign banking organizations
as defined by section 211.23(b) of Regulation K.
The report includes a balance sheet, income statement, and
statement of changes in equity capital with supporting schedules
providing information on securities, loans, risk-based capital,
deposits, average balances, off-balance sheet activities, past due
loans, and loan charge-offs and recoveries.
The Federal Reserve proposes revisions to the FR Y-9C that would be
effective with the March 31, 1997, reporting date. Most of the proposed
new items are needed to maintain consistency with comparable items
recently proposed or previously added to the commercial bank Reports of
Condition and Income (Call Report). The proposed revisions to the FR Y-
9C consist of combining or eliminating several line items, revising the
reporting for assets sold with recourse, implementing Financial
Accounting Standards Board Statement Number 125, Accounting for
Transfers and Servicing of Financial Assets and Extinguishments of
Liabilities, for reporting transfers and servicing of financial assets,
and adding the reporting of credit derivative instruments. The result
of these revisions would be a net reduction of fifteen reporting items
on the FR Y-9C. The proposed revisions do not include Call Report
changes that were proposed by the Federal Financial Institutions
Examination Council to improve the monitoring of interest rate risk
exposures.
The Federal Reserve is attempting to minimize reporting burden by
making appropriate reporting revisions in a manner consistent with the
Call Report and effective with the same reporting period. In addition,
revisions and clarifications to existing instructions would be
incorporated into this report.
2. Report title: Parent Company Only Financial Statements for Large
Bank Holding Companies
Agency form number: FR Y-9LP
OMB control number: 7100-0128
Frequency: Quarterly
Reporters: Bank holding companies
Annual reporting hours: 30,819
Estimated average hours per response: Range from 2.0 to 13.5 hours
Number of respondents: 1,716
Small businesses are affected.
General description of report: The information collection is
mandatory 12 U.S.C. 1844(b) and (c) and 12 CFR 225.5(b). Confidential
treatment is not routinely given to the information in these reports.
However, confidential treatment for the report information, in whole or
in part, can be requested in accordance with the instructions to the
form.
The FR Y-9LP includes standardized financial statements filed
quarterly on a parent company only basis from each bank holding company
that files the FR Y-9C. In addition, for tiered bank holding companies,
a separate FR Y-9LP must be filed for each lower tier bank holding
company if the top tier bank holding company files the FR Y-9C. The
following bank holding companies are exempt from filing the FR Y-9LP,
unless the Board specifically requires an exempt company to file the
report: bank holding companies that have been granted a hardship
exemption by the Board under section 4(d) of the Bank Holding Company
Act; and foreign banking organizations as defined by section 211.23(b)
of Regulation K.
The Federal Reserve proposes minor revisions to the FR Y-9LP to
maintain consistency with the revisions proposed to the FR Y-9C, and
would be effective with the March 31, 1997, reporting date.
3. Report title: Parent Company Only Financial Statements for Small
Bank Holding Companies
Agency form number: FR Y-9SP
OMB control number: 7100-0128
Frequency: Semiannual
Reporters: Bank holding companies
Annual reporting hours: 32,295
[[Page 68748]]
Estimated average hours per response: Range from 1.5 to 6.0 hours
Number of respondents: 4,306
Small businesses are affected.
General description of report: The information collection is
mandatory 12 U.S.C. 1844(b) and (c) and 12 CFR 225.5(b). Confidential
treatment is not routinely given to the information in these reports.
However, confidential treatment for the report information, in whole or
in part, can be requested in accordance with the instructions to the
form.
The FR Y-9SP is a parent company only financial statement filed by
one-bank holding companies with total consolidated assets of less than
$150 million on a semiannual basis. This report, an abbreviated version
of the more extensive FR Y-9LP, is designed to obtain basic balance
sheet and income statement information, information on intercompany
transactions, and data for capital adequacy evaluation.
The Federal Reserve proposes minor revisions to the FR Y-9SP to
maintain consistency with the revisions proposed to the FR Y-9C, and
would be effective with the June 30, 1997, reporting date.
4. Report title: Quarterly Financial Statements of Nonbank
Subsidiaries of Bank Holding Companies
Agency form number: FR Y-11Q
OMB control number: 7100-0244
Frequency: Quarterly
Reporters: Bank holding companies
Annual reporting hours: 6,845
Estimated average hours per response: Range from 3.0 to 8.0 hours
Number of respondents: 276
Small businesses are affected.
General description of report: The information collection is
mandatory 12 U.S.C. 1844(b) and (c) and 12 CFR 225.5(b). Confidential
treatment is not routinely given to most of the data in these reports.
However, confidential treatment for the report information, in whole or
in part, can be requested in accordance with the instructions to the
form. FR Y-11Q, memorandum item 7.a, ``loans and leases past due 30
through 89 days'' and FR Y-11Q, memorandum item 7.d, ``loans and leases
restructured and included in past due and nonaccrual loans'' are
confidential pursuant to Section (b)(8) of the Freedom of Information
Act 5 U.S.C. 552(b)(8).
The FR Y-11Q is filed quarterly by the top tier bank holding
companies for each nonbank subsidiary of a bank holding company with
total consolidated assets of $150 million or more in which the nonbank
subsidiary has total assets of 5 percent or more of the top-tier bank
holding company's consolidated Tier 1 capital, or where the nonbank
subsidiary's total operating revenue equals 5 percent or more of the
top-tier bank holding company's consolidated total operating revenue.
The report consists of a balance sheet, income statement, off-balance-
sheet items, information on changes in equity capital, and a memoranda
section.
The Federal Reserve proposes minor revisions to the FR Y-11Q to
maintain consistency with the revisions proposed to the FR Y-9C, and
would be effective with the March 31, 1997, reporting date.
5. Report title: Annual Financial Statements of Nonbank
Subsidiaries
Agency form number: FR Y-11I
OMB control number: 7100-0244
Frequency: Annual
Reporters: Bank holding companies
Annual reporting hours: 6,560
Estimated average hours per response: Range from .4 to 8.0 hours
Number of respondents: 2,050
Small businesses are affected.
General description of report: The information collection is
mandatory 12 U.S.C. 1844(b) and (c) and 12 CFR 225.5(b). Confidential
treatment is not routinely given to the data in these reports. However,
confidential treatment for the report information, in whole or in part,
can be requested in accordance with the instructions to the form. FR Y-
11I, Schedule A, item 7.a, ``loans and leases past due 30 through 89
days'' and FR Y-11I, Schedule A, item 7.d, ``loans and leases
restructured and included in past due and nonaccrual loans'' are
confidential pursuant to Section (b)(8) of the Freedom of Information
Act 5 U.S.C. 552(b)(8).
The FR Y-11I is filed annually by the top tier bank holding
companies for each of their nonbank subsidiaries that are not required
to file a quarterly FR Y-11Q. The FR Y-11I report consists of similar
balance sheet, income statement, off-balance-sheet, and change in
equity capital information that is included on the FR Y-11Q. In
addition, the FR Y-11I also includes a loan schedule to be submitted
only by respondents engaged in credit extending activities.
The Federal Reserve proposes minor revisions to the FR Y-11I to
maintain consistency with the revisions proposed to the FR Y-9C, and
would be effective with the December 31, 1997, reporting date.
Board of Governors of the Federal Reserve System, December 24,
1996.
William W. Wiles,
Secretary of the Board.
[FR Doc. 96-33161 Filed 12-27-96; 8:45am]
BILLING CODE 6210-01-F
