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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:
7100-0340
ICR Reference No:
201908-7100-004
Status:
Historical Active
Previous ICR Reference No:
201601-7100-019
Agency/Subagency:
FRS
Agency Tracking No:
MHC Forms
Title:
Applications and Notifications of a Mutual Holding Company
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:
01/29/2020
Retrieve Notice of Action (NOA)
Date Received in OIRA:
01/29/2020
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
01/31/2023
36 Months From Approved
01/31/2020
Responses
10
0
4
Time Burden (Hours)
491
0
1,450
Cost Burden (Dollars)
0
0
0
Abstract:
The MHC Forms consist of information that must be filed in connection with certain proposals involving savings and loan holding companies that are organized in mutual form (MHCs), including the reorganization of a savings association into MHC form, stock issuances of holding company subsidiaries of MHCs, and conversions of MHCs to stock form. The Board requires the submission of these filings to allow the Board to fulfill its obligations to review such transactions under section 10(o) of the Home Owners’ Loan Act (HOLA), as amended (12 U.S.C. § 1467a(o)) and the Board’s Regulation MM –Mutual Holding Companies (12 CFR 239). The Board uses the information submitted by an applicant or notificant to evaluate these transactions with respect to the relevant statutory and regulatory factors.
Authorizing Statute(s):
US Code:
12 USC 1467a(o)
Name of Law: Home Owners’ Loan Act
US Code:
12 USC 1467a(b)
Name of Law: Home Owners’ Loan Act
US Code:
12 USC 1467a(g)
Name of Law: Home Owners’ Loan Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
84 FR 39841
08/12/2019
30-day Notice:
Federal Register Citation:
Citation Date:
84 FR 70541
12/23/2019
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
6
IC Title
Form No.
Form Name
FR MM-10(o)-1
FR MM-10(o)-1
Notice of Mutual Holding Company Reorganization
FR MM-10(o)-2
FR MM-10(o)-2
Application for Approval of a Stock Issuance by a Subsidiary Holding Company of a Mutual Holding Company
FR MM-AC
FR MM-AC
Application for Conversion of a Mutual Holding Company to Stock Form
FR MM-OC
FR MM-OC
Offering Circulars
FR MM-OF
FR MM-OF
Order Forms
FR MM-PS
FR MM-PS
Proxy Statement
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
10
4
0
0
6
0
Annual Time Burden (Hours)
491
1,450
0
-2,258
1,299
0
Annual Cost Burden (Dollars)
0
0
0
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 estimated total annual burden for these applications is 2,749 hours, and would decrease to 491 hours with the adopted revisions. The average estimated hours per response for the FR MM-10(o)-1 (formerly the Form 1522) would decrease from 400 hours to 60 hours, the FR MM-10(o)-2 (formerly the Form 1523) would decrease from 350 hours to 30 hours, the FR MM-AC (formerly the Form 1680) would decrease from 299 hours to 60 hours, the FR MM-PS (formerly the Form 1681) would remain unchanged at 50 hours, the FR MM-OC (formerly the Form 1682) would decrease from 150 hours to 50 hours, and the FR MM-OF (formerly the Form 1683) would remain unchanged at 1 hour. The Application for Conversion (Form 1680), Proxy Statement (Form 1681), Offering Circular (Form 1682), and Order Form (Form 1683) currently form a family of information collections under OMB No. 7100-0335. This proposal would add these forms to the family of information collections under OMB No. 7100-0340.
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.
Yes
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]?
No
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:
Scott Farmer 202-452-2253 Scott.W.Farmer@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:
01/29/2020
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