Reporting Requirements Associated with Regulation XX

Forms and Documents

Document Name	Status
Form FR XX-1 Reporting Section 251.6 Form	Modified
FRXX_20231209_83c.pdf Justification for No Material/Nonsubstantive Change	2023-12-09

IC Document Collections

IC ID	Document Title	Status
245076	Reporting Section 251.6 Form	Modified
214215	Reporting Section 251.4(c)	Modified
214213	Reporting Section 251.4(b)	Modified
214211	Reporting Section 251.3(e)	Modified

ICR Details

OMB Control No: 7100-0363	ICR Reference No: 202312-7100-003
Status: Historical Active	Previous ICR Reference No: 202004-7100-011
Agency/Subagency: FRS	Agency Tracking No: FR XX
Title: Reporting Requirements Associated with Regulation XX
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: 12/09/2023
	Date Received in OIRA: 12/09/2023
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2023	12/31/2023	12/31/2023
Responses	38	0	40
Time Burden (Hours)	97	0	100
Cost Burden (Dollars)	0	0	0

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Abstract: The Board’s Regulation XX - Concentration Limit (12 CFR Part 251) implements section 14 of the Bank Holding Company Act of 1956 (BHC Act), which establishes a financial sector concentration limit that generally prohibits a financial company from merging or consolidating with, or otherwise acquiring, another company if the resulting company’s liabilities upon consummation would exceed 10 percent of the aggregate liabilities of all financial companies (a covered acquisition). Under section 14 of the BHC Act and Regulation XX, a financial company means (1) an insured depository institution, (2) a bank holding company, (3) a savings and loan holding company, (4) any other company that controls an insured depository institution, (5) a nonbank financial company designated by the Financial Stability Oversight Council (Council) for supervision by the Board, or (6) a foreign bank or company that is treated as a bank holding company for purposes of the BHC Act. Regulation XX includes certain reporting requirements that apply to financial companies, and the FR XX-1 report collects information from certain financial companies that do not otherwise report consolidated financial information to the Board or another Federal banking agency.

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Authorizing Statute(s): US Code: 12 USC 1467a(b) and (g) Name of Law: Home Owners’ Loan Act
   US Code: 12 USC 248(a) Name of Law: Federal Reserve Act
   US Code: 12 USC 324 Name of Law: Federal Reserve Act
   US Code: 12 USC 3105(c)(2) Name of Law: International Banking Act of 1978
   US Code: 12 USC 1852(d) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
  

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 51713	08/21/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 80099	12/11/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Reporting Section 251.3(e)
Reporting Section 251.4(b)
Reporting Section 251.4(c)
Reporting Section 251.6	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	38	40	0	0	-2	0
Annual Time Burden (Hours)	97	100	0	0	-3	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 total annual burden hours reflects an update to the respondent count and standardizing the estimated average hours per response burden.

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Annual Cost to Federal Government: $24,700

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? 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: 12/09/2023

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