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Federal Register / Vol. 86, No. 109 / Wednesday, June 9, 2021 / Notices Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection Report title: The International Applications and Prior Notifications under Subpart B of Regulation K.
Agency form number: FR K2.
OMB control number: 71000284.
Frequency: On occasion.
Respondents: Foreign banks.
Estimated number of respondents: 13.
Estimated average hours per response:
Reporting: 35; Disclosure: 1.
Estimated annual burden hours:
Reporting: 455; Disclosure: 13.
General description of report: Under the International Banking Act of 1978
IBA, foreign banks are required to obtain the prior approval of the Board to establish a branch, agency, or representative office; to establish or acquire ownership or control of a commercial lending company in the United States; or to change the status of an agency or limited branch to a branch in the United States. The Board uses the information from the FR K2 in connection with these applications and to supervise foreign banks with offices 1
in the United States.
Legal authorization and confidentiality: The FR K2 is authorized pursuant to sections 7, 10, and 13 of the International Banking Act.2 The applications and notifications comprising FR K2 are required to obtain a benefit.
The Board does not routinely publicly release information collected through the FR K2. To the extent a respondent submits nonpublic commercial or financial information in connection with the FR K2, which is both customarily and actually treated as private by the respondent, the respondent may request confidential treatment pursuant to exemption 4 of the Freedom of Information Act FOIA.3 To the extent a respondent submits personal, medical, or similar files, the disclosure of which would constitute an unwarranted invasion of privacy, the respondent may request confidential treatment pursuant to exemption 6 of the FOIA.4 If a respondent requests confidential treatment, the Board will determine whether the information is entitled to confidential treatment on a case-by-case basis. The entity should separately designate any such information as 1 The term office means any branch, agency, or representative office, or a commercial lending company subsidiary.
2 12 U.S.C. 3105, 3107, and 3108.
3 5 U.S.C. 552b4.
4 5 U.S.C. 552b6.

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confidential commercial information or confidential financial information and the Board will treat such designated information as confidential to the extent permitted by law, including the FOIA.
To the extent a respondent submits information related to examination, operating, or condition reports prepared by, on behalf of, or for the use of a financial supervisory agency, the information may be confidential pursuant to exemption 8 of the FOIA.5
Current actions: On March 8, 2021, the Board published an initial notice in the Federal Register 86 FR 13383
requesting public comment for 60 days on the extension, without revision, of the FR K2. The comment period for this notice expired on May 7, 2021. The Board did not receive any comments.
The Board will adopt the extension, without revision of the FR K2 as originally proposed.
Board of Governors of the Federal Reserve System, June 4, 2021.
Ann Misback, Secretary of the Board.
FR Doc. 202112088 Filed 6821; 8:45 am BILLING CODE 621001P

FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Board of Governors of the Federal Reserve System.
SUMMARY: The Board of Governors of the Federal Reserve System Board is adopting a proposal to extend for three years, without revision, the Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company FR Y3F; OMB No. 71000119.
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Clearance OfficerNuha ElmaghrabiOffice of the Chief Data Officer, Board of Governors of the Federal Reserve System, Washington, DC 20551, 202
4523829.
Office of Management and Budget OMB Desk OfficerShagufta Ahmed Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503, or by fax to 202 3956974.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board authority under the PRA to approve and assign OMB control numbers to AGENCY:

collections of information conducted or sponsored by the Board. Boardapproved collections of information are incorporated into the official OMB
inventory of currently approved collections of information. The OMB
inventory, as well as copies of the PRA
Submission, supporting statements, and approved collection of information instruments are available at https
www.reginfo.gov/public/do/PRAMain.
These documents are also available on the Federal Reserve Boards public website at https
www.federalreserve.gov/apps/
reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears above.
Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection Report title: Application for a Foreign Organization to Acquire a U.S. Bank or Bank Holding Company.
Agency form number: FR Y3F.
OMB control number: 71000119.
Frequency: On occasion.
Respondents: Any company organized under the laws of a foreign country that seeks to acquire a U.S. bank or bank holding company.
Estimated number of respondents: 6.
Estimated average hours per response:
Reporting: Initial application: 90;
Subsequent application: 70; Disclosure:
1.
Estimated annual burden hours:
Reporting: Initial application: 90;
Subsequent application: 350;
Disclosure: 6.
General description of report: Under the Bank Holding Company Act BHC
Act, any company, including a company organized under the laws of a foreign country, that seeks to acquire a U.S. bank or bank holding company must receive prior approval from the Board to do so. The Federal Reserve uses the information collected by the FR
Y3F to determine whether to approve the application and, subsequently, to carry out its supervisory responsibilities with respect to the foreign banking organizations operations in the United States.
Legal authorization and confidentiality: Section 3a of the BHC
Act 1 requires prior approval by the Board for any company, including a foreign company, to acquire a U.S. bank or bank holding company, and section 3c of the BHC Act 2 sets forth the factors that the Board must consider in approving such an application. Sections 1 12

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