FINANCIAL REPORT FOR WHOLLY OWNED SERVICE CORPORATIONS

Forms and Documents

Document Name	Status

No forms / supporting documents in this ICR. Check IC Document Collections.

IC Document Collections

IC ID	Document Title	Status
152502	FINANCIAL REPORT FOR WHOLLY OWNED SERVICE CORPORATIONS Form	Migrated

ICR Details

OMB Control No: 3068-0029	ICR Reference No: 198710-3068-002
Status: Historical Active	Previous ICR Reference No: 198511-3068-001
Agency/Subagency: FHLBB	Agency Tracking No:
Title: FINANCIAL REPORT FOR WHOLLY OWNED SERVICE CORPORATIONS
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/19/1987
	Date Received in OIRA: 10/09/1987
Terms of Clearance: APPROVED WITH THE FOLLOWING CONDITIONS: (1) THE COLLECTION IS APPROVED FOR ONE YEAR, AS REQUESTED, DURING WHICH THE FHLBB WILL WORK TO IMPLEMENT A NEW REPORTING SYSTEM, (2) THE FHLBB MUST KEEP OMB INFORMED OF THE PROGRESS ON THIS NEW SYSTEM AND SHOULD FORWARD TO OMB AS SOON AS POSSIBLE (BUT NOT LATER THAN DECEMBER 20, 1987) A COPY OF THE FHLBB'S STUDY ON THE NEW REPORTING SYSTEM, (3) THE REQUEST FOR SUBMISSION OF THE ORIGINAL FORM AND THREE COPIES MUST BE MODIFIED TO REQUESTING THE ORIGINAL AND TWO COPIES, TO COMPORT WITH THE REQUIREMENTS OF THE PAPERWORK REDUCTION ACT'S IMPLEMENTING REGULATIONS AT 5 CFR 1320, AND (4) DURING THE FHLBB'S STUDY OF THE NEW REPORTING SYSTEM, THE FHLBB MUST GIVE DUE CONSIDERATION TO ALLOWING REPORTERS TO SUBMIT INFORMATION ON THEIR FISCAL YEAR BASIS RATHER THAN THE CURRENT CALENDER YEAR BASIS REQUIREMENT. THIS REVISION APPEARS TO HAVE MERIT AS IT WILL REDUCE THE BURDEN ON RESPONDENTS WITHOUT INTERFERRING WITH THE FHLBB'S RESPONSIBILITIES, AND THE FHLBB'S DECISION ON THIS ISSUE MUST BE DISCUSSED IN THE NEXT SUBMISSION OF THIS INFORMATION COLLECTION FOR OMB REVIEW. THESE CONDITIONS ARE BEING IMPOSED TO ENSURE THAT THE COLLECTION REQUIREMENTS IMPOSE THE MINIMUM BURDEN NECESSARY AS REQUIRED BY THE PAPERWORK REDUCTION ACT AND ITS IMPLEMENTING REGULATIONS AT 5 CFR 1320.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/1988	11/30/1988
Responses	4,300	0	0
Time Burden (Hours)	17,200	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: THE WHOLLY OWNED SERVICE CORPORATION REPORT COLLECTS FINANCIAL INFORMATION ON APPROXIMATELY 4,300 ENTITIES WITH APPROXIMATELY $63 BILLION IN TOTAL ASSETS. INFORMATION FROM THIS REPORT IS USED TO SUPERVISE AND REGULATE THE THRIFT INDUSTRY.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
FINANCIAL REPORT FOR WHOLLY OWNED SERVICE CORPORATIONS	FHLBB, 1015

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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	4,300	0	0	4,300	0	0
Annual Time Burden (Hours)	17,200	0	0	17,200	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

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: $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]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

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: 10/09/1987

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