Consolidated Report of Condition and Income for Edge and Agreement Corporations

Forms and Documents

Document Name	Status
Form FR 2886b Banking Edge and agreement corporations (quarterly) Form	Modified
Form FR 2886b Investment Edge and agreement corporations (annual) Form	Modified
Form FR 2886b Investment Edge and agreement corporations (quarterly) Form	Modified
Form FR 2886b Banking Edge and agreement corporations (annual) Form	Modified
CECL_20190328_omb.pdf Supporting Statement A	2019-03-28

IC Document Collections

IC ID	Document Title	Status
36084	Banking Edge and agreement corporations (quarterly) Form	Modified
187282	Investment Edge and agreement corporations (annual) Form	Modified
187280	Investment Edge and agreement corporations (quarterly) Form	Modified
181981	Banking Edge and agreement corporations (annual) Form	Modified

ICR Details

OMB Control No: 7100-0086	ICR Reference No: 201903-7100-016
Status: Historical Active	Previous ICR Reference No: 201811-7100-004
Agency/Subagency: FRS	Agency Tracking No: FR 2886b
Title: Consolidated Report of Condition and Income for Edge and Agreement Corporations
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: 03/29/2019
	Date Received in OIRA: 03/29/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2022	36 Months From Approved	03/31/2021
Responses	128	0	128
Time Burden (Hours)	1,652	0	1,433
Cost Burden (Dollars)	0	0	0

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Abstract: The FR 2886b reporting form is filed quarterly and annually by banking Edge and agreement corporations and investment (nonbanking) Edge and agreement corporations (collectively, “Edges or Edge corporations”). The mandatory FR 2886b comprises an income statement with two schedules reconciling changes in capital and reserve accounts and a balance sheet with 11 supporting schedules. Other than examination reports, it provides the only financial data available for these entities. The Federal Reserve is solely responsible for authorizing, supervising, and assigning ratings to Edges. The Federal Reserve uses the data collected on the FR 2886b to identify present and potential problems and monitor and develop a better understanding of activities within the industry.

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Authorizing Statute(s): US Code: 12 USC 602 Name of Law: Federal Reserve Act
   US Code: 12 USC 625 Name of Law: Federal Reserve 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:
	83 FR 63870	12/12/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 11783	03/28/2019
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
Investment Edge and agreement corporations (quarterly)	FR 2886b	Consolidated Report of Condition and Income for Edge and Agreement Corporations
Banking Edge and agreement corporations (quarterly)	FR 2886b	Consolidated Report of Condition and Income for Edge and Agreement Corporations
Banking Edge and agreement corporations (annual)	FR 2886b	Consolidated Report of Condition and Income for Edge and Agreement Corporations
Investment Edge and agreement corporations (annual)	FR 2886b	Consolidated Report of Condition and Income for Edge and Agreement Corporations

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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	128	128	0	0	0	0
Annual Time Burden (Hours)	1,652	1,433	0	219	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: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The estimated total annual burden for the FR 2886b is 1,433 hours and will increase to 1,652 hours. The average estimated hours per response for the (1) quarterly banking FR 2886b filers will increase from 15.15 hours to 15.77 hours, an increase of 0.62 hours; (2) annual banking FR 2886b filers will increase from 15.15 hours to 15.87 hours, an increase of 0.72 hours; (3) quarterly investment FR 2886b filers will increase from 9.6 hours to 11.81 hours, an increase of 2.21 hours; and (4) annual investment FR 2886b filers will increase from 9.6 hours to 10.82 hours, an increase of 1.22 hours. The estimated reporting burden is lower for investment Edges, which file only 4 supporting schedules, than for banking Edges, which file all 11 supporting schedules.

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Annual Cost to Federal Government: $204,300

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? 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: 03/29/2019

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