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View ICR - OIRA Conclusion

OMB Control No: 7100-0125	ICR Reference No: 202311-7100-001
Status: Historical Active	Previous ICR Reference No: 202112-7100-003
Agency/Subagency: FRS	Agency Tracking No: FR Y-7N; FR Y-7NS; FR Y-7Q
Title: Reports of 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: 12/11/2023
	Date Received in OIRA: 12/11/2023
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2026	36 Months From Approved	09/30/2024
Responses	654	0	654
Time Burden (Hours)	2,610	0	2,100
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	654	654	0
Annual Time Burden (Hours)	2,610	2,100	510
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: No

Burden Reduction Due to:

Short Statement: The estimated total annual burden for the FR Y-7N, FR Y-7NS, and FR Y-7Q is 2,100 hours, and would increase to 2,610 hours with the revisions. The Board revised the FR Y-7Q report to (1) add a line item on Part 1A to collect the total combined U.S. assets net of intercompany balances and transactions, based on a quarterly average, (2) require the three items that capture U.S. assets be filed by all respondents on a calendar quarter-end or year-end basis, (3) as of December 31, 2023, change the due date from 90 days to 70 days after the report date for all FR Y-7Q filers that also file the Systemic Risk Report (FR Y-15; OMB No. 7100-0352) and as of December 31, 2024, change the due date from 90 days to 70 days after the report date for the remaining FR Y-7Q filers who are not eligible to file the FR Y-15, and (4) make other minor clarifications and conforming edits to the form and instructions.

Annual Cost to Federal Government: $161,500

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: Ron Qiu 202 430-9259 ron.qiu@frb.gov

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