Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies

Forms and Documents

Document Name	Status
Form FR Y-11S FR Y-11S Form	Modified
Form FR Y-11 FR Y-11 (annual) Form	Modified
Form FR Y-11 FR Y-11 (quarterly) Form	Modified
FR2314_FR2314S_FRY11_FRY11S_20210924_omb.pdf Supporting Statement A	2021-09-24

IC Document Collections

IC ID	Document Title	Status
46644	FR Y-11S Form	Modified
46643	FR Y-11 (annual) Form	Modified
36274	FR Y-11 (quarterly) Form	Modified

ICR Details

OMB Control No: 7100-0244	ICR Reference No: 202109-7100-003
Status: Active	Previous ICR Reference No: 202103-7100-005
Agency/Subagency: FRS	Agency Tracking No: FR Y-11; FR Y-11S
Title: Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/24/2021
	Date Received in OIRA: 09/24/2021
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2024	36 Months From Approved	09/30/2021
Responses	2,242	0	2,242
Time Burden (Hours)	15,237	0	15,237
Cost Burden (Dollars)	0	0	0

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Abstract: The FR Y-11 reporting forms collect financial information for individual nonfunctional regulated U.S. nonbank subsidiaries of domestic holding companies, which is essential for monitoring the subsidiaries’ potential impact on the condition of the holding company or its subsidiary banks. Holding companies file the FR Y-11 on a quarterly or annual basis or the FR Y-11S on an annual basis, predominantly based on whether the organization meets certain asset size thresholds. The FR Y-11 data are used with other holding company data to assess the condition of holding companies that are heavily engaged in nonbanking activities and to monitor the volume, nature, and condition of their nonbanking operations.

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Authorizing Statute(s): US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 1467a(b) Name of Law: Home Owners’ Loan Act
   US Code: 12 USC 1850a Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 12 USC 3106 Name of Law: International Banking Act of 1978
  

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:
	85 FR 77345	12/02/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 28346	05/26/2021
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
FR Y-11 (annual)	FR Y-11	Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies
FR Y-11 (quarterly)	FR Y-11	Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies
FR Y-11S	FR Y-11S	Abbreviated Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies

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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	2,242	2,242	0	0	0	0
Annual Time Burden (Hours)	15,237	15,237	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:

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Annual Cost to Federal Government: $110,600

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.     Yes

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? Yes

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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: 09/24/2021

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