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: 7100-0313	ICR Reference No: 202008-7100-005
Status: Historical Active	Previous ICR Reference No: 202003-7100-006
Agency/Subagency: FRS	Agency Tracking No: FR Q
Title: Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation Q
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Emergency	Approval Requested By: 03/09/2021
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/18/2021
Retrieve Notice of Action (NOA)	Date Received in OIRA: 03/09/2021
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2021	6 Months From Approved	03/31/2023
Responses	3,309	0	3,277
Time Burden (Hours)	81,381	0	81,309
Cost Burden (Dollars)	0	0	0

Abstract: The Board’s Regulation Q - Capital Adequacy of Bank Holding Companies, Savings and Loan Holding Companies, and State Member Banks (12 CFR Part 217) sets forth the capital adequacy requirements for state member banks (SMBs), BHCs, U.S. intermediate holding companies (IHCs), and covered savings and loan holding companies (SLHCs) (collectively, Board-regulated institutions).

Emergency Justfication: The delegation of authority to the Board from OMB that permits the Board to approve collections of information under the Paperwork Reduction Act includes the authority to temporarily approve a collection of information without seeking public comment. To exercise this authority, the Board must determine that a new collection of information or a change to an existing collection must be instituted quickly and that public participation in the approval process would substantially interfere with the Board’s ability to perform its statutory obligation. Following the temporary approval of an information collection, the Board must conduct a normal delegated review of the collection within six months, including publishing in the Federal Register a notice seeking public comment. In response to recent economic disruptions and volatility in U.S. financial markets caused by the spread of Coronavirus Disease 2019 (COVID-19), the Board and the agencies issued interim final rules (IFRs) that revised, on a temporary basis, the disclosure requirements contained in the Board’s Regulation Q and introduced a new notice opt-in provision and a requirement for prior Board approval for certain capital distributions by SMBs. The Board has proposed to extend these temporary revisions so that they would be effective for the FR Q through March 31, 2021, the date on which the relevant IFR provisions would expire.

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion	Change Due to Adjustment in Estimate
Annual Number of Responses	3,309	3,277	12	20
Annual Time Burden (Hours)	81,381	81,309	72	0
Annual Cost Burden (Dollars)	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The estimated total annual burden for the FR Q is 81,309 hours, and would increase to 81,381 with the revisions. The Board believes that the new reporting requirements will amount to 12 burden hours per respondent (two responses per respondent at six hours per response).

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]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Yes

Agency Contact: Kaitlin Merritt 202 452-3752 kaitlin.m.merritt@frb.gov