Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations; Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations

ICR 201903-7100-013

OMB: 7100-0073

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2019-03-28
ICR Details
7100-0073 201903-7100-013
Active 201811-7100-001
FRS FR 2314; FR 2314S
Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations; Abbreviated Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations
Revision of a currently approved collection   No
Delegated
Approved without change 03/29/2019
Retrieve Notice of Action (NOA) 03/29/2019
  Inventory as of this Action Requested Previously Approved
03/31/2022 36 Months From Approved 08/31/2021
2,295 0 2,295
14,664 0 13,467
0 0 0

The FR 2314 reporting forms collect financial information for non-functionally regulated direct or indirect foreign subsidiaries of U.S. state member banks (SMBs), Edge and agreement corporations, and holding companies (i.e., bank holding companies, savings and loan holding companies, securities holding companies, and intermediate holding companies). Parent organizations (SMBs, Edge and agreement corporations, or holding companies) file the FR 2314 on a quarterly or annual basis, or the FR 2314S on an annual basis, predominantly based on whether the organization meets certain asset size thresholds. The FR 2314 data are used to identify current and potential problems at the foreign subsidiaries of U.S. parent companies, to monitor the activities of U.S. banking organizations in specific countries, and to develop a better understanding of activities within the industry, in general, and of individual institutions, in particular.

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 324 Name of Law: Federal Reserve Act
   US Code: 12 USC 602 Name of Law: Federal Reserve Act
   US Code: 12 USC 625 Name of Law: Federal Reserve Act
   US Code: 12 USC 3106 Name of Law: International Banking Act of 1978
  
None

Not associated with rulemaking

  83 FR 63870 12/12/2018
84 FR 11783 03/28/2019
No

  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 2,295 2,295 0 0 0 0
Annual Time Burden (Hours) 14,664 13,467 0 1,197 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
The estimated total annual burden for the FR 2314 family of reports is 13,467 hours and will increase to 14,664 hours. The average estimated hours per response for the FR 2314 filers will increase from 6.6 hours to 7.2 hours, an increase of 0.6 hours.

$83,200
No
    Yes
    No
No
Yes
No
Uncollected
Scott Farmer 202-452-2253 Scott.W.Farmer@frb.gov

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
03/29/2019


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