Reporting Requirements Associated with Concentration Limit (Regulation XX); Financial Company (as defined) Report of Consolidated Liabilities

Forms and Documents

Document Name	Status
Form FR XX-1 Financial Company (as defined) Report of Consolidated Liabilities Form	Modified
Form FR XX-1 Initial set-up - Financial Company (as defined) Report of Consolidated Liabilities Form	Removed
FR XX 83C.pdf Justification for No Material/Nonsubstantive Change	2017-05-22

IC Document Collections

IC ID	Document Title	Status
214215	Financial Company (as defined) Report of Consolidated Liabilities Form	Modified
214214	Initial set-up - Financial Company (as defined) Report of Consolidated Liabilities Form	Removed
214213	Section 251.4(c)	Unchanged
214211	Section 251.4(b)	Unchanged

ICR Details

OMB Control No: 7100-0363	ICR Reference No: 201705-7100-009
Status: Historical Active	Previous ICR Reference No: 201410-7100-002
Agency/Subagency: FRS	Agency Tracking No: FR XX; FR XX-1
Title: Reporting Requirements Associated with Concentration Limit (Regulation XX); Financial Company (as defined) Report of Consolidated Liabilities
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: 05/22/2017
	Date Received in OIRA: 05/22/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2017	12/31/2017	12/31/2017
Responses	45	0	82
Time Burden (Hours)	106	0	300
Cost Burden (Dollars)	0	0	0

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Abstract: The Federal Reserve has adopted a final rule that would implement section 14 of the Bank Holding Company Act of 1956 (BHC Act), which was added by section 622 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 14 establishes a financial sector concentration limit that generally prohibits a financial company from merging or consolidating with, or acquiring, another company if the resulting company's liabilities upon consummation would exceed 10 percent of the aggregate liabilities of all financial companies. Regulation XX establishes reporting requirements for financial companies that do not otherwise report consolidated financial information to the Federal Reserve or other appropriate Federal banking agency and creates a new reporting form, the Financial Company (as defined) Report of Consolidated Liabilities (FR XX-1).

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Authorizing Statute(s): US Code: 12 USC 1852(d) Name of Law: Bank Holding Company Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
7100-AE18	Final or interim final rulemaking	79 FR 68095	11/14/2014

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 27801	05/15/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 68095	11/14/2014
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Initial set-up - Financial Company (as defined) Report of Consolidated Liabilities	FR XX-1	Financial Company (as defined) Report of Consolidated Liabilities
Section 251.4(b)
Section 251.4(c)
Financial Company (as defined) Report of Consolidated Liabilities	FR XX-1	Financial Company (as defined) Report of Consolidated Liabilities

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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	45	82	0	0	-37	0
Annual Time Burden (Hours)	106	300	0	0	-194	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: Decrease in burden hours reflects update to the FR XX-1 respondent count and deletion of initial set up.

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Annual Cost to Federal Government: $0

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]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 05/22/2017

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