Federal Register - March 8, 2021

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Source: Federal Register

Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices Comments must be submitted on or before May 7, 2021.
ADDRESSES: You may submit comments, identified by FR K2, by any of the following methods:
Agency Website: https
www.federalreserve.gov/. Follow the instructions for submitting comments at https www.federalreserve.gov/apps/
foia/proposedregs.aspx.
Email: regs.comments@
federalreserve.gov. Include the OMB
number in the subject line of the message.
Fax: 202 4523819 or 202 452
3102.
Mail: Ann E. Misback, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551.
All public comments are available from the Boards website at https
www.federalreserve.gov/apps/foia/
proposedregs.aspx as submitted, unless modified for technical reasons or to remove personally identifiable information at the commenters request.
Accordingly, comments will not be edited to remove any identifying or contact information. Public comments may also be viewed electronically or in paper in Room 146, 1709 New York Avenue NW, Washington, DC 20006, between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the Board requires that visitors make an appointment to inspect comments. You may do so by calling 202 4523684.
Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security 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
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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.
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, 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: 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.

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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 in the United States; 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 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.5
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.
5 5 U.S.C. 552b8.

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Federal Register - March 8, 2021

TitoloFederal Register

PaeseStati Uniti

Data08/03/2021

Conteggio pagine303

Numero di edizioni7799

Prima edizione14/03/1936

Ultima edizione22/06/2026

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