Application to Become a Savings and Loan Holding Company or to Acquire a Savings Association or Savings and Loan Holding Company

ICR 201905-7100-007

OMB: 7100-0336

Federal Form Document

ICR Details
7100-0336 201905-7100-007
Active 201905-7100-005
FRS FR LL-10(e)
Application to Become a Savings and Loan Holding Company or to Acquire a Savings Association or Savings and Loan Holding Company
Revision of a currently approved collection   No
Delegated
Approved without change 05/29/2019
Retrieve Notice of Action (NOA) 05/29/2019
  Inventory as of this Action Requested Previously Approved
05/31/2022 36 Months From Approved 07/31/2019
15 0 15
900 0 7,500
0 0 0

This collection of information consists of information that must be filed in connection with certain proposals involving the formation, acquisition, or merger of a savings and loan holding company (SLHC). The Board requires the submission of this filing from an applicant for regulatory and supervisory purposes and to allow the Board to fulfill its statutory obligations to review these transactions under section l0(e) of the Home Owners’ Loan Act (HOLA) (12 U.S.C. 1461 et. seq.) and the Board’s Regulation LL - Savings and Loan Holding Companies (12 CFR 238.11). The Board uses the information submitted by applicants to evaluate these transactions with respect to the financial and managerial resources and future prospects of the company(ies) and savings association(s) involved, the effect of the acquisition on the savings association(s), the insurance risk to the Deposit Insurance Fund, the convenience and needs of communities to be served, and competitive effects.

US Code: 12 USC 1467a(b) Name of Law: Home Owners’ Loan Act
  
None

Not associated with rulemaking

  83 FR 61635 11/30/2018
84 FR 21780 05/15/2019
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 15 15 0 0 0 0
Annual Time Burden (Hours) 900 7,500 0 -6,600 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Miscellaneous Actions
The current estimated total annual burden for the FR LL-10(e) is 7,500 hours but would decrease to 900 hours. The average estimated hours per response would decrease from 500 hours to 60 hours. The decrease in the estimated time burden per response is partially attributable to a significant reduction in the information collected due to the proposed revisions to the FR LL-10(e). However, the majority of this decrease is due to the Board’s use for the first time of its own methodology for calculating the burden associated with the FR LL-10(e). The previous burden estimate was based on the calculation methodology used by the OTS to estimate the time burden associated with filing the Form H-(e). When the Board inherited the form from the OTS, the Board adopted the OTS’s estimates for time burden per response, and has continued to use that estimate until now. In connection with this proposal, the Board has estimated the time burden per response using the same methodology that it uses for other applications that have similar requirements. The Board does not have access to the methodology that the OTS used to calculate the estimated burden associated with filing Form H-(e), so it is not possible to state how the methodologies differ, or the reasons that the estimate using the Board’s methodology differs significantly from that of the OTS. The revised burden estimates are based on the number of applications and notifications, including post-consummation notices, received in 2016 and 2017.

$0
No
    Yes
    No
No
No
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.
05/29/2019


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