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:
202212-7100-009
Status:
Active
Previous ICR Reference No:
202202-7100-007
Agency/Subagency:
FRS
Agency Tracking No:
FR 2083; FR 2083A; FR 2083B; FR 2083C; FR 2030; FR
Title:
Federal Reserve Membership and 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:
12/28/2022
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/28/2022
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2025
36 Months From Approved
02/28/2025
Responses
103
0
158
Time Burden (Hours)
112
0
80
Cost Burden (Dollars)
0
0
0
Abstract:
When acting upon an initial Federal Reserve Membership Application (FR 2083/A/B/C) filed by a state-chartered bank, the Federal Reserve is required under section 9 of the Federal Reserve Act (FRA) to consider the financial condition of the applying bank, the general character of its management, and whether the corporate powers to be exercised are consistent with the FRA. The Federal Reserve uses the information collected through the application form, along with other Federal Reserve System-generated data, to determine whether the applicant bank meets the standards for approval. The information requested in the FR 2083/A/B/C application for membership is necessary for the Federal Reserve to be able to fulfill its responsibilities with respect to evaluating a state-chartered bank for membership. The Federal Reserve Bank Stock Applications forms (FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, and FR 2087) are used to fulfill the Board’s responsibilities under the FRA, Home Owners’ Loan Act, and Regulation I. These application forms must be used by a new or existing member bank (including a national bank or a CSA) to request the issuance, adjustments (related to a merger) 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 322
Name of Law: Federal Reserve Act
US Code:
12 USC 323
Name of Law: Federal Reserve Act
US Code:
12 USC 329
Name of Law: Federal Reserve Act
US Code:
12 USC 333
Name of Law: Federal Reserve Act
US Code:
12 USC 248(a)
Name of Law: Federal Reserve Act
US Code:
12 USC 1464a(c)
Name of Law: Home Owners’ Loan Act
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
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:
87 FR 56421
09/14/2022
30-day Notice:
Federal Register Citation:
Citation Date:
87 FR 78962
12/23/2022
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
7
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 2083, FR 2083A, FR 2083B, and FR 2083C
FR 2083, FR 2083A, FR 2083B, and FR 2083C
Federal Reserve Membership Application
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
103
158
0
0
-55
0
Annual Time Burden (Hours)
112
80
0
13
19
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:
No
Burden Reduction Due to:
Short Statement:
The estimated total annual burden for the Federal Reserve Membership Application and Federal Reserve Bank Stock Applications is 99 hours, and would increase to 112 hours with the revisions. The FR 2083/A/B/C estimated average hours per response increased 1 hour with the revisions. As part of this clearance, the Board cleared the FR 2083, FR 2083A, FR 2083B, and FR 2083C (FR 2083/A/B/C) under the FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a, and FR 2087 OMB control number (7100-0042), and then discontinued the FR 2083/A/B/C’s separate OMB control number (7100-0046). This change was aimed at simplifying the tracking and clearance process for the two related sets of forms. This change did not modify the reporting requirements of the forms in any way.
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:
12/28/2022
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