Bank Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates

Forms and Documents

Document Name	Status
Form FR Y-8 Institutions with covered transactions Form	Modified
Form FR Y-8 Institutions without covered transactions Form	Modified
FRY8_20150429_omb.pdf Supporting Statement A	2015-04-29

IC Document Collections

IC ID	Document Title	Status
36144	Institutions with covered transactions Form	Modified
186781	Institutions without covered transactions Form	Modified

ICR Details

OMB Control No: 7100-0126	ICR Reference No: 201504-7100-002
Status: Historical Active	Previous ICR Reference No: 201504-7100-001
Agency/Subagency: FRS	Agency Tracking No: FR Y-8
Title: Bank Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/29/2015
	Date Received in OIRA: 04/29/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2018	36 Months From Approved	04/30/2015
Responses	20,984	0	20,984
Time Burden (Hours)	47,422	0	47,422
Cost Burden (Dollars)	0	0	0

---

Abstract: The FR Y-8 collects information on transactions between an insured depository institution and its affiliates that are subject to section 23A of the Federal Reserve Act. The FR Y-8 is filed quarterly by all top-tier bank holding companies (BHCs), including financial holding companies (FHCs) and savings and loan holding companies (SLHCs), for all insured depository institutions that are owned by the BHC and by foreign banking organizations (FBOs) that directly own a U.S. subsidiary bank. The FR Y-8 reporting form comprises a cover page, declaration page, and two pages collecting data on covered transactions and derivatives. The primary purpose of the data is to enhance the Federal Reserve's ability to monitor insured depository institutions' exposures to affiliates and to ensure insured depository institutions' compliance with section 23A of the Federal Reserve Act. Section 23A of the Federal Reserve Act is one of the most important statutes on limiting exposures to individual institutions and protecting against the expansion of the federal safety net.

---

Authorizing Statute(s): US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 1467a(b)(2) Name of Law: Home Owners' Loan Act
   US Code: 5 USC 552(b)(4) Name of Law: Freedom of Information Act
  

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:
	80 FR 7592	02/11/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 23274	04/27/2015
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Institutions with covered transactions	FR Y-8	Bank Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates
Institutions without covered transactions	FR Y-8	Bank Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates

---

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	20,984	20,984	0	0	0	0
Annual Time Burden (Hours)	47,422	47,422	0	0	0	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:

---

Annual Cost to Federal Government: $264,300

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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? Uncollected

---

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: 04/29/2015

---