Notifications Related to Community Development and Public Welfare Investments by State Member Banks Pursuant to Section 208.22 of Regulation H

Forms and Documents

Document Name	Status
Form FR H-6 Investment notice Form and Instruction	Modified
Form FR H-6 Extension of divestiture period Form and Instruction	Modified
Form FR H-6 Application (Prior approval) Form and Instruction	Modified
FRH6_20171208_83c.pdf Justification for No Material/Nonsubstantive Change	2017-12-08

IC Document Collections

IC ID	Document Title	Status
36310	Investment notice Form and Instruction	Modified
184432	Extension of divestiture period Form and Instruction	Modified
184431	Application (Prior approval) Form and Instruction	Modified

ICR Details

OMB Control No: 7100-0278	ICR Reference No: 201712-7100-004
Status: Historical Active	Previous ICR Reference No: 201410-7100-007
Agency/Subagency: FRS	Agency Tracking No: FR H-6
Title: Notifications Related to Community Development and Public Welfare Investments by State Member Banks Pursuant to Section 208.22 of Regulation H
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: 12/08/2017
	Date Received in OIRA: 12/08/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2017	12/31/2017	12/31/2017
Responses	92	0	46
Time Burden (Hours)	400	0	182
Cost Burden (Dollars)	0	0	0

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Abstract: Regulation H - Membership of State Banking Institutions in the Federal Reserve System requires state member banks planning to make community development or public welfare investments to comply with the following Regulation H notification requirements: If the investment does not require prior Board approval per 12 CFR 208.22(b), a written notice must be sent to the appropriate Federal Reserve Bank per 12 CFR 208.22(c). If the investment does require prior Board approval per 12 CFR 208.22(d), a request for approval must be sent to the appropriate Federal Reserve Bank. If the Board orders divestiture, but the bank cannot divest within the established time limit, a request or requests for extension of the divestiture period must be submitted to the appropriate Federal Reserve Bank per 12 CFR 208.22(e).

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Authorizing Statute(s): US Code: 12 USC 338a Name of Law: Federal Reserve Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 57101	09/24/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 74088	12/15/2014
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Extension of divestiture period	FR H-6	Notice of Public Welfare Investments by State Member Banks to the Federal Reserve System
Application (Prior approval)	FR H-6	Notice of Public Welfare Investments by State Member Banks to the Federal Reserve System
Investment notice	FR H-6	Notice of Public Welfare Investments by State Member Banks to the Federal Reserve System

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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	92	46	0	0	46	0
Annual Time Burden (Hours)	400	182	0	0	218	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: The increase in burden hours reflects an update to the FR H-6 respondent count.

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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

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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: 12/08/2017

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