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View ICR - OIRA Conclusion

OMB Control No: 7100-0297	ICR Reference No: 202211-7100-004
Status: Historical Active	Previous ICR Reference No: 202202-7100-001
Agency/Subagency: FRS	Agency Tracking No: FR Y-6; FR Y-7; FR Y-10; FR Y-10E
Title: Structure Reporting and Recordkeeping Requirements for Domestic and 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: 11/29/2022
	Date Received in OIRA: 11/29/2022
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2025	36 Months From Approved	11/30/2022
Responses	38,394	0	21,290
Time Burden (Hours)	53,997	0	57,207
Cost Burden (Dollars)	0	0	0

Authorizing Statute(s): US Code: 12 USC 1844(c)(1) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 1467a(b)(2) Name of Law: Home Owners’ Loan Act
   US Code: 12 USC 1850a(c)(1) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 5311(a)(1) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 12 USC 3106(a) Name of Law: International Banking Act of 1978
   US Code: 12 USC 3108(a) Name of Law: International Banking Act of 1978
   US Code: 12 USC 324 Name of Law: Federal Reserve Act
   US Code: 12 USC 602 Name of Law: Federal Reserve Act
   US Code: 12 USC 625 Name of Law: Federal Reserve Act
   US Code: 12 USC 5365 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

Citations for New Statutory Requirements: None

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	38,394	21,290	17,104
Annual Time Burden (Hours)	53,997	57,207	-3,210
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 estimated total annual burden for the FR Y-6, FR Y-7, FR Y-10, and FR Y-10E reports is 57,207 hours, and would decrease to 53,997 hours. The revisions would result in a decrease of 3,210 hours. The Board estimates that the average hours per response would decrease by 3 hours for the FR Y-6 and 1.5 hours for the FR Y-7. The decrease in burden is primarily due to the elimination of the requirement to file a full FR Y-6 report for firms that would check “No” in the proposed new checkboxes on the FR Y-6, the automation of the organization chart for the FR Y-6 and FR Y-7, and changes to the submission of the tiered structure information. The Board estimates that the average hours per response for the FR Y-6 and FR Y-10 recordkeeping requirements would be 0.5 hours each.

Annual Cost to Federal Government: $2,730,600

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: Mark Tokarski 202-452-5241 Mark.E.Tokarski@frb.gov

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