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:
7100-0350
ICR Reference No:
201712-7100-014
Status:
Historical Active
Previous ICR Reference No:
201708-7100-015
Agency/Subagency:
FRS
Agency Tracking No:
FR YY
Title:
Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation YY
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:
02/16/2018
Retrieve Notice of Action (NOA)
Date Received in OIRA:
02/16/2018
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2020
11/30/2020
08/31/2020
Responses
1,225
0
1,193
Time Burden (Hours)
119,264
0
118,842
Cost Burden (Dollars)
0
0
0
Abstract:
Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) requires the Board to implement Regulation YY - Enhanced Prudential Standards (12 CFR 252) for bank holding companies (BHCs) and foreign banking organizations (FBOs) with total consolidated assets of $50 billion or more. The enhanced prudential standards include risk-based and leverage capital requirements, liquidity standards, requirements for overall risk management (including establishing a risk committee), stress test requirements, and debt-to-equity limits for companies that the Financial Stability Oversight Council (FSOC) has determined pose a grave threat to financial stability.
Authorizing Statute(s):
US Code:
12 USC 1844(c)(1)(A)
Name of Law: Bank Holding Company Act
US Code:
12 USC 3106(a)
Name of Law: International Banking Act
US Code:
12 USC 5361
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 124 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
7100-AE52
Final or interim final rulemaking
82 FR 42882
09/12/2017
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
81 FR 29169
05/11/2016
30-day Notice:
Federal Register Citation:
Citation Date:
82 FR 42882
09/12/2017
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
42
IC Title
Form No.
Form Name
Disclosure Subpart F, section 252.58
Disclosure Subpart F, section 252.58 (Initial Setup)
Disclosure Subpart G, section 252.65
Disclosure Subpart G, section 252.65 (Initial Setup)
Disclosure Subpart O, section 252.153e5
Disclosure Subpart O, section 252.153e5 (Initial Setup)
Disclosure Subpart P, section 252.167
Disclosure Subpart P, section 252.167 (Initial Setup)
Recordkeeping Subpart B, section 252.15c
Recordkeeping Subpart B, section 252.15c (Initial Setup)
Recordkeeping Subpart D, sections 252.34e3, .34f, .34h, and .35a7
Recordkeeping Subpart D, sections 252.34e3, .34f, .34h, and .35a7 (Initial Setup)
Recordkeeping Subpart F, section 252.56c1
Recordkeeping Subpart F, section 252.56c1 (Initial Setup)
Recordkeeping Subpart O, section 252.153e5
Recordkeeping Subpart O, section 252.153e5 (Initial Setup)
Recordkeeping Subpart O, sections 252.156e, .156g, and .157a7
Recordkeeping Subpart O, sections 252.156e, .156g, and .157a7 (Initial Setup)
Reporting Subpart B, section 252.16
Reporting Subpart B, section 252.16 (Initial Setup)
Reporting Subpart I, section 252.85b
Reporting Subpart I, section 252.87b
Reporting Subpart L, section 252.122b1iii
Reporting Subpart M, section 252.132d
Reporting Subpart M, sections 252.132a and b
Reporting Subpart N, section 252.143c
Reporting Subpart N, section 252.144d
Reporting Subpart N, section 252.145a
Reporting Subpart N, section 252.146c1iii
Reporting Subpart N, sections 252.143a and b
Reporting Subpart N, sections 252.144a and b
Reporting Subpart O, section 252.153a3
Reporting Subpart O, section 252.153b5
Reporting Subpart O, section 252.153c3
Reporting Subpart O, section 252.153d (Initial Setup)
Reporting Subpart O, section 252.154a and b
Reporting Subpart O, section 252.154c
Reporting Subpart O, section 252.157b
Reporting Subpart O, section 252.158c1
Reporting Subpart O, section 252.158c2
Reporting Subpart O, section 252.158d1ii
Reporting Subpart P, section 252.164
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
1,225
1,193
32
0
0
0
Annual Time Burden (Hours)
119,264
118,842
422
0
0
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:
The current annual burden for FR YY is estimated to be 118,842 hours. The proposed reporting requirements would increase the estimated annual burden hours by 422 hours. The estimated average hours per response for the reporting requirements in section 252.85(b) would be 40 hours and the estimated average hours per response for the reporting requirements in section 252.87(b) would be 1 hour.
Annual Cost to Federal Government:
$0
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.
No
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]?
Yes
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Mark Tokarski 202-452-5241 Mark.E.Tokarski@frb.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:
02/16/2018
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