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:
7100-0042
ICR Reference No:
202202-7100-007
Status:
Historical Active
Previous ICR Reference No:
201912-7100-009
Agency/Subagency:
FRS
Agency Tracking No:
FR 2030, FR 2030a, FR 2056, FR 2086, FR2086a, 2087
Title:
Federal Reserve Bank Stock Applications
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:
02/14/2022
Retrieve Notice of Action (NOA)
Date Received in OIRA:
02/14/2022
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
02/28/2025
36 Months From Approved
12/31/2022
Responses
158
0
1,176
Time Burden (Hours)
80
0
589
Cost Burden (Dollars)
0
0
0
Abstract:
The stock application forms (FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, and FR 2087) are authorized under the FRA and Regulation I - Issue and Cancellation of Federal Reserve Bank Capital Stock (12 CFR Part 209). These application forms must be used by a new or existing member bank (including a national bank) to request the issuance, adjustment in, or cancellation of Federal Reserve Bank stock. The application forms must contain certain certifications by the applicant as well as certain other financial and shareholder data that are needed by a Reserve Bank to process the request.
Authorizing Statute(s):
US Code:
12 USC 222
Name of Law: Federal Reserve Act
US Code:
12 USC 282
Name of Law: Federal Reserve Act
US Code:
12 USC 287
Name of Law: Federal Reserve Act
US Code:
12 USC 321
Name of Law: Federal Reserve Act
US Code:
12 USC 288
Name of Law: Federal Reserve Act
US Code:
12 USC 248(a)
Name of Law: Federal Reserve Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
7100-AG13
Final or interim final rulemaking
87 FR 2027
01/13/2022
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
86 FR 19152
04/13/2021
30-day Notice:
Federal Register Citation:
Citation Date:
87 FR 2027
01/13/2022
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 2030
FR 2030
Application for Federal Reserve Bank Stock (for use by de novo national banks)
FR 2030a
FR 2030a
Application for Federal Reserve Bank Stock (for use by nonmember state banks converting into national banks)
FR 2056
FR 2056
Application for Adjustment in the Holding of Federal Reserve Bank Stock
FR 2086
FR 2086
Application for Cancellation of Federal Reserve Bank Stock (for use by member banks in voluntary liquidation)
FR 2086a
FR 2086a
Application for Cancellation of Federal Reserve Bank Stock (for use by member banks converting into or merging into member or nonmember banks)
FR 2087
FR 2087
Application for Cancellation of Federal Reserve Bank Stock (for use by insolvent member banks)
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
158
1,176
0
-1,018
0
0
Annual Time Burden (Hours)
80
589
0
-509
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:
Yes
Burden Reduction Due to:
Changing Regulations
Short Statement:
The estimated total annual burden for the Federal Reserve Bank Stock Applications is 589 hours, and would decrease to 80 hours. For the FR 2056, the Board anticipates that there are approximately 50 mergers each year in which the surviving stockholder is a member bank, and it will take a surviving stockholder approximately 30 minutes to complete the paperwork associated with an adjustment to its stock subscription; the remaining burden estimates are unchanged.
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?
No
Agency Contact:
Kaitlin Merritt 202 452-3752 kaitlin.m.merritt@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:
02/14/2022
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