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Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices
screening in order to inspect and photocopy comments.
Additionally, commenters may send a copy of their comments to the Office of Management and Budget OMB Desk OfficerShagufta AhmedOffice 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.
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.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board authority under the PRA to approve and assign OMB control numbers to collections of information conducted or sponsored by the Board. In exercising this delegated authority, the Board is directed to take every reasonable step to solicit comment. In determining whether to approve a collection of information, the Board will consider all comments received from the public and other agencies.
A copy of the Paperwork Reduction Act PRA OMB submission, including the reporting form and instructions, supporting statement, and other documentation will be available at https www.reginfo.gov/public/do/
PRAMain, if approved. These documents will also be made available on the 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.

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Request for Comment on Information Collection Proposal The Board invites public comment on the following information collection, which is being reviewed under authority delegated by the OMB under the PRA. Comments are invited on the following:
a. Whether the proposed collection of information is necessary for the proper performance of the Boards functions, including whether the information has practical utility;
b. The accuracy of the Boards estimate of the burden of the proposed information collection, including the validity of the methodology and assumptions used;
c. Ways to enhance the quality, utility, and clarity of the information to be collected;
d. Ways to minimize the burden of information collection on respondents,
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including through the use of automated collection techniques or other forms of information technology; and e. Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information.
At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the Board should modify the proposal.
Proposal Under OMB Delegated Authority to Extend for Three Years, Without Revision, 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 5a through 5c of the BHC Act 3
authorize the Board to require the registration of bank holding companies, issue regulations and orders to carry out its supervisory responsibilities thereunder, and examine and require U.S.C. 1842a.
U.S.C. 1842c.
3 12 U.S.C. 1844ac.

reports to be submitted by bank holding companies, respectively. Together, these sections of the BHC Act provide the legal authorization for the FR Y3F. The FR Y3F is required to obtain a benefit.
To the extent a respondent submits nonpublic commercial or financial information in connection with the FR
Y3F, 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.4 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.5 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 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 treated as confidential pursuant to exemption 8 of the FOIA.6
Board of Governors of the Federal Reserve System, March 1, 2021.
Michele Taylor Fennell, Deputy Associate Secretary of the Board.
FR Doc. 202104663 Filed 3521; 8:45 am BILLING CODE 621001P

FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment Request Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
AGENCY:

The Board of Governors of the Federal Reserve System Board invites comment on a proposal to extend for three years, without revision, the International Applications and Prior Notifications under Subpart B of Regulation K FR K2; OMB No. 7100
0284.

SUMMARY:

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U.S.C. 552b4.
U.S.C. 552b6.
6 5 U.S.C. 552b8.

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