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View ICR - OIRA Conclusion

OMB Control No: 7100-0125	ICR Reference No: 201612-7100-003
Status: Historical Active	Previous ICR Reference No: 201608-7100-019
Agency/Subagency: FRS	Agency Tracking No: FR Y-7N; FR Y-7NS; FR Y-7Q
Title: Reports of 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: 12/21/2016
	Date Received in OIRA: 12/21/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2019	36 Months From Approved	03/31/2017
Responses	820	0	1,259
Time Burden (Hours)	3,108	0	5,227
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	820	1,259	-439
Annual Time Burden (Hours)	3,108	5,227	-2,119
Annual Cost Burden (Dollars)	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 current annual reporting burden for this family of reports is estimated to be 5,227 hours. The proposed revisions to the FR Y-7Q would result in an increase in burden of 680 hours due to the increase in estimated average hours per response from 1.75 to 3. However, the number of FR Y-7N and FR Y-7NS respondents is estimated to decrease by 154, from 269 to 115, due to the designation by certain foreign banking organizations of IHCs. As a result of these changes, the total annual burden for this family of reports would decrease to an estimated 3,108 hours.

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