View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
7100-0353
ICR Reference No:
201605-7100-006
Status:
Historical Active
Previous ICR Reference No:
201305-7100-007
Agency/Subagency:
FRS
Agency Tracking No:
Reg NN
Title:
Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation NN
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Delegated
OIRA Conclusion Action:
Approved without change
Conclusion Date:
05/26/2016
Retrieve Notice of Action (NOA)
Date Received in OIRA:
05/26/2016
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
05/31/2016
05/31/2016
05/31/2016
Responses
6
0
19
Time Burden (Hours)
1,972
0
6,870
Cost Burden (Dollars)
0
0
0
Abstract:
The Federal Reserve has adopted a final rule to permit banking organizations under its supervision to engage in certain transactions in foreign currency with retail customers. The final rule also describes various requirements with which banking organizations must comply to conduct such transactions. On August 3, 2011, the Federal Reserve published a notice of proposed rulemaking in the Federal Register for public comment (76 FR 46652). The comment period expired on October 11, 2011. On April 9, 2013, the Federal Reserve published a notice of final rulemaking in the Federal Register (78 FR 21019). The final rule is effective on May 13, 2013.
Authorizing Statute(s):
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 321 - 338
Name of Law: Federal Reserve Act
US Code:
12 USC 1818
Name of Law: Federal Deposit Insurance Act
US Code:
12 USC 3108
Name of Law: International Banking Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
7100-AD79
Not associated with rulemaking
78 FR 21019
04/09/2013
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
76 FR 46652
08/03/2011
30-day Notice:
Federal Register Citation:
Citation Date:
78 FR 21019
04/09/2013
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Reg NN - Disclosure
Reg NN - Recordkeeping
Reg NN - Reporting
ICR Summary 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
6
19
0
0
-13
0
Annual Time Burden (Hours)
1,972
6,870
0
0
-4,898
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:
No
Burden Reduction Due to:
Short Statement:
Decrease in burden hours reflects update to the Reg NN respondent count.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
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]?
Yes
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Yes
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Robert Dahl 202 622-3119 Robert.Dahl@do.treas.gov
Common Form ICR:
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:
(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:
05/26/2016
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