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:
7100-0107
ICR Reference No:
202407-7100-010
Status:
Historical Active
Previous ICR Reference No:
202107-7100-007
Agency/Subagency:
FRS
Agency Tracking No:
FR K-1
Title:
International Applications and Prior Notifications under Subparts A and C of Regulation K
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Delegated
OIRA Conclusion Action:
Approved without change
Conclusion Date:
07/26/2024
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/26/2024
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2024
07/31/2024
07/31/2024
Responses
171
0
171
Time Burden (Hours)
1,009
0
987
Cost Burden (Dollars)
0
0
0
Abstract:
Subpart A of Regulation K, International Operations of U.S. Banking Organizations (12 CFR Part 211, Subpart A), governs the foreign investments and activities of member banks, Edge and agreement corporations, bank holding companies (BHCs), and certain investments by foreign organizations. Subpart C of Regulation K, Export Trading Companies (12 CFR Part 211, Subpart C), governs investments in export trading companies by eligible investors. The FR K-1 information collection comprises a reporting form, as well as certain reporting and recordkeeping requirements contained in these subparts of Regulation K that are not directly reflected in the FR K-1 form, and a disclosure requirement (via newspaper notice) for certain transactions. The FR K-1 form contains eleven attachments associated with the application and notification requirements in Subparts A and C of Regulation K. The Board requires the information collected by the FR K-1 for regulatory and supervisory purposes and to allow the Board to fulfill its statutory obligations under the Federal Reserve Act (FRA) and the Bank Holding Company Act of 1956 (BHC Act).
Authorizing Statute(s):
US Code:
12 USC 601-604a
Name of Law: Federal Reserve Act
US Code:
12 USC 611-631
Name of Law: Federal Reserve Act
US Code:
12 USC 1843(c)(13)
Name of Law: Bank Holding Company Act of 1956
US Code:
12 USC 1843(c)(14)
Name of Law: Bank Holding Company Act of 1956
US Code:
12 USC 1844(c)
Name of Law: Bank Holding Company Act of 1956
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:
86 FR 23968
05/05/2021
30-day Notice:
Federal Register Citation:
Citation Date:
86 FR 40840
07/29/2021
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
11
IC Title
Form No.
Form Name
Disclosure Section 211.5(f)
Recordkeeping Section 211.13
Reporting Attachment J
FR K-1
International Applications and Prior Notifications under Subparts A and C of Regulation K
Reporting Attachment K
FR K-1
International Applications and Prior Notifications under Subparts A and C of Regulation K
Reporting Attachments A and B
FR K-1
International Applications and Prior Notifications under Subparts A and C of Regulation K
Reporting Attachments C, D, E, F, and G
FR K-1
International Applications and Prior Notifications under Subparts A and C of Regulation K
Reporting Attachments H and I
FR K-1
International Applications and Prior Notifications under Subparts A and C of Regulation K
Reporting Section 211.11
Reporting Section 211.5(c)(4)
Reporting Section 211.8(g)(3)(iii)
Reporting Sections 211.10(a)(14)(i)(A), 211.10(a)(14)(ii), 211.10(a)(15)(ii), and 211.10(a)(15)(iv)(B)
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
171
171
0
0
0
0
Annual Time Burden (Hours)
1,009
987
0
0
22
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:
No
Burden Reduction Due to:
Short Statement:
The increase in total annual burden hours reflects standardizing the estimated average hours per response burden.
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:
Deven Patel 319 538-6278 deven.r.patel@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:
07/26/2024
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