95-5368. Agency Forms Under Review

[Federal Register Volume 60, Number 43 (Monday, March 6, 1995)]
[Notices]
[Pages 12215-12216]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-5368]



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FEDERAL RESERVE SYSTEM


Agency Forms Under Review

Background

    Notice is hereby given of the final approval of a proposed 
information collection by the Board of Governors of the Federal Reserve 
System (Board) under OMB delegated authority, as per 5 C.F.R. 1320.9 
(OMB Regulations on Controlling Paperwork Burdens on the Public).
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Clearance Officer--Mary M. McLaughlin--Division 
of Research and Statistics, Board of Governors of the Federal Reserve 
System, Washington, D.C. 20551 (202-452-3829)
OMB Desk Officer--Milo Sunderhauf--Office of Information and Regulatory 
Affairs, Office of Management and Budget, New Executive Office 
Building, Room 3208, Washington, D.C. 20503 (202-395-7340)
    Final approval under OMB delegated authority of the extension, with 
revision, of the following report(s):
    1. Report title: Annual Report of Bank Holding Companies.
Agency form number: FR Y-6.
OMB Docket number: 7100-0124.
Frequency: Annual.
Reporters: Bank Holding Companies.
Annual reporting hours: 21,972.
Estimated average hours per response: Range from 1.3 to 101 hours per 
response. [[Page 12216]] 
Number of respondents: 5,493.
Small businesses are affected.
    General description of report: This information collection is 
mandatory to obtain or retain a benefit [12 U.S.C. 1844(b) and (c)] and 
12 CFR 225.5 of Regulation Y. Confidential treatment is not routinely 
given to the information in these reports. However, confidential 
treatment for the report information can be requested, in whole or 
part, in accordance with the instructions to the form.
    Abstract: The FR Y-6 is an annual report filed by the top-tier bank 
holding companies. Foreign banking organizations as defined by section 
211.23(b) of Regulation K are not required to file this form. The FR Y-
6 consists of consolidated and parent company financial statements in 
the company's own format.
    The FR Y-6 report is the Federal Reserve's principal source of 
internally generated and independently audited financial data on 
individual bank holding companies and their banking and nonbanking 
subsidiaries. The report enables the Federal Reserve to monitor bank 
holding company operations and to ensure that the operations are 
conducted in a safe and sound manner and in compliance with the 
provisions of the Bank Holding Company Act and Regulation Y.
    The Federal Reserve approved the following revisions to the FR Y-6:
    (1) Eliminate the requirement to submit consolidated and parent 
company financial statements.
    (2) Revise the requirement for audited financial statements to 
include only holding companies with assets of $500 million or more.
    (3) Eliminate the requirement to submit nonbank subsidiary 
financial statements. This information is currently proposed to be 
incorporated into an expanded standardized FR Y-11 report (Financial 
Statement of Nonbank Subsidiaries of Bank Holding Companies).
    (4) Eliminate the requirement to submit certified copies of 
amendments to organizational documents.
    (5) Eliminate the collection of information on insider loans.
    (6) Eliminate the confirmation of changes in investments and 
activities.

    Board of Governors of the Federal Reserve System, February 28, 
1995.
William W. Wiles,
Secretary of the Board.
[FR Doc. 95-5368 Filed 3-3-95; 8:45AM]
Billing Code 6210-01-F