Reporting and Disclosure Requirements Associated with Regulation G

Forms and Documents

Document Name	Status
FR G 83C.pdf Justification for No Material/Nonsubstantive Change	2022-01-11

IC Document Collections

IC ID	Document Title	Status
36352	Reporting: IDI and affiliates Section 207.6(d)(1)(i) Copy of agreements to agency	Modified
219486	Disclosure: NGEP Section 207.6(b)(1) Covered agreements to public	Modified
219485	Disclosure: IDI and affiliates Section 207.4(b) Agreements relating to activities of CRA affiliates	Modified
219484	Disclosure: IDI and affiliates Section 207.6(b)(1) Covered agreements to public	Modified
219482	Reporting: NGEP Section 207.7(b) Annual report	Modified
219481	Reporting: NGEP Section 207.6(c)(1) Copy of agreements to agency	Modified
219480	Reporting: IDI and affiliates Section 207.7(f)(2) Filing NGEP annual report	Modified
219478	Reporting: IDI and affiliates Section 207.7(b) Annual report	Modified
219477	Reporting: IDI and affiliates Section 207.6(d)(1)(ii) List of agreements to agency	Modified

ICR Details

OMB Control No: 7100-0299	ICR Reference No: 202201-7100-004
Status: Active	Previous ICR Reference No: 201910-7100-006
Agency/Subagency: FRS	Agency Tracking No: FR G
Title: Reporting and Disclosure Requirements Associated with Regulation G
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: 02/03/2022
	Date Received in OIRA: 02/03/2022
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2022	11/30/2022	11/30/2022
Responses	16	0	54
Time Burden (Hours)	25	0	78
Cost Burden (Dollars)	0	0	0

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Abstract: Regulation G implements section 711 of the Gramm-Leach-Bliley Act (GLBA), which requires insured depository institutions (IDIs), affiliates of IDIs, and nongovernmental entities or persons (NGEPs) to disclose written agreements entered into in connection with fulfillment of the CRA. Specifically, Regulation G requires IDIs, their affiliates, and NGEPs to make a copy of any written CRA-related contract, arrangement, or understanding available upon request and to file an annual report with each relevant supervisory agency (federal banking agency) regarding the use of funds or other resources under such agreement for that fiscal year. In addition, IDIs and their affiliates must provide to the agency each calendar quarter copies of all CRA-related agreements entered into during the quarter or a list of the agreements. The GLBA directed the Board, as well as the other federal banking agencies, to issue consistent and comparable regulations to implement the requirements of section 48 of the FDI Act. In 2001, the agencies promulgated substantially identical regulations, which interpret the scope of written agreements that are subject to the statute and implement the disclosure and reporting requirements of section 48. The Board’s Regulation G implements the provisions of the GLBA requiring both IDIs and NGEPs to make a copy of any covered agreement available to the public and the appropriate Federal banking agency, and to file an annual report with each appropriate Federal banking agency regarding the use of funds under such agreement for that fiscal year. In addition, each calendar quarter, an IDI and its affiliates must provide to the appropriate Federal banking agency a list of all covered agreements entered into during that quarter or a copy of the covered agreements.

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Authorizing Statute(s): US Code: 12 USC 1831y(h)(1) Name of Law: Gramm-Leach-Bliley 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:
	84 FR 32743	07/09/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 55958	10/18/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

IC Title	Form No.	Form Name
Disclosure: IDI and affiliates Section 207.4(b) Agreements relating to activities of CRA affiliates
Disclosure: IDI and affiliates Section 207.6(b)(1) Covered agreements to public
Disclosure: NGEP Section 207.6(b)(1) Covered agreements to public
Reporting: IDI and affiliates Section 207.6(d)(1)(i) Copy of agreements to agency
Reporting: IDI and affiliates Section 207.6(d)(1)(ii) List of agreements to agency
Reporting: IDI and affiliates Section 207.7(b) Annual report
Reporting: IDI and affiliates Section 207.7(f)(2) Filing NGEP annual report
Reporting: NGEP Section 207.6(c)(1) Copy of agreements to agency
Reporting: NGEP Section 207.7(b) Annual report

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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	16	54	0	0	-38	0
Annual Time Burden (Hours)	25	78	0	0	-53	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 decrease in burden hours reflects a decrease in respondent counts and the number of reports these respondents submit annually.

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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? No

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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: 02/03/2022

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