Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation YY

ICR 202004-7100-008

OMB: 7100-0350

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2020-04-21
IC Document Collections
IC ID
Document
Title
Status
241414
New
241413
New
241412
New
230020
Modified
230019
Modified
227911
Modified
227910
Modified
227909
Modified
227908
Modified
227907
Modified
227906
Modified
218464
Modified
218463
Modified
218462
Modified
218461
Modified
218460
Modified
218459
Modified
218458
Modified
218457
Modified
218447
Modified
218446
Modified
218445
Modified
218444
Modified
218443
Modified
218442
Unchanged
218441
Modified
218440
Unchanged
218439
Modified
218438
Unchanged
218437
Modified
218436
Removed
218435
Unchanged
218433
Unchanged
218432
Modified
218431
Unchanged
218430
Unchanged
218429
Unchanged
204843
Unchanged
204842
Unchanged
204841
Unchanged
204840
Unchanged
204830
Unchanged
204829
Unchanged
204828
Removed
204827
Modified
ICR Details
7100-0350 202004-7100-008
Active 202003-7100-007
FRS FR YY
Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation YY
Revision of a currently approved collection   No
Delegated
Approved without change 04/21/2020
Retrieve Notice of Action (NOA) 04/21/2020
  Inventory as of this Action Requested Previously Approved
04/30/2023 36 Months From Approved 11/30/2020
588 0 902
27,751 0 41,619
0 0 0

Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) requires the Board to implement Regulation YY - Enhanced Prudential Standards (12 CFR Part 252) for bank holding companies (BHCs) and foreign banking organizations (FBOs) with total consolidated assets of $50 billion or more. The enhanced prudential standards include risk-based and leverage capital requirements, liquidity standards, requirements for overall risk management (including establishing a risk committee), stress test requirements, and debt-to-equity limits for companies that the Financial Stability Oversight Council (FSOC) has determined pose a grave threat to financial stability.

US Code: 12 USC 1844(c)(1)(A) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 3106(a) Name of Law: International Banking Act of 1978
   US Code: 12 USC 5361 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  
PL: Pub.L. 115 - 174 132 Name of Law: Economic Growth, Regulatory Relief, and Consumer Protection Act

7100-AF45 Final or interim final rulemaking 84 FR 59032 11/01/2019

  83 FR 61408 11/29/2018
84 FR 21988 05/15/2019
No

43
IC Title Form No. Form Name
Reporting Sections 252.132(a) and (b)
Reporting Section 252.132(d)
Reporting Sections 252.143(a) and (b)
Reporting Section 252.143(c)
Reporting Sections 252.144(a) and (b)
Reporting Section 252.144(d)
Reporting Section 252.145(a)
Reporting Section 252.146(c)(1)(iii) Annual stress testing
Reporting Section 252.146(c)(1)(iii) Biennial stress testing
Reporting Section 252.153(a)(3)
Reporting Section 252.153(b)(5)
Reporting Section 252.16 (Initial Setup)
Recordkeeping Section 252.15(c) (Initial Setup)
Recordkeeping Sections 252.34(e)(3), 252.34(f), 252.34(h), and 252.35(a)(7) (Initial Setup)
Recordkeeping Section 252.56(c)(1) (Initial Setup)
Recordkeeping Section 252.153(e)(5) (Initial Setup)
Recordkeeping Sections 252.156(e), 252.156(g), and 252.157(a)(7) (Initial Setup)
Disclosure Section 252.58 (Initial Setup)
Reporting Section 252.153(c)(3)
Reporting Sections 252.154(a) and (b)
Reporting Section 252.154(c)
Reporting Section 252.157(b)
Reporting Section 252.158(c)(1)
Reporting Section 252.87(b)
Reporting Section 252.158(c)(2)
Recordkeeping Sections 252.156(e), 252.156(g), and 252.157(a)(7) Category IV FBOs
Disclosure Section 252.58
Reporting Section 252.158(d)(1)(ii)
Reporting Section 252.164
Disclosure Section 252.65 (Initial Setup)
Recordkeeping Section 252.15(c)
Recordkeeping Sections 252.156(e), 252.156(g), and 252.157(a)(7) Category II-III FBOs
Recordkeeping Sections 252.34(e)(3), 252.34(f), 252.34(h), and 252.35(a)(7) Category IV firms
Recordkeeping Sections 252.34(e)(3), 252.34(f), 252.34(h), and 252.35(a)(7) Category I-III firms
Recordkeeping Section 252.56(c)(1)
Reporting Section 252.153(d) (Initial Setup)
Reporting Section 252.122(b)(1)(iii)
Disclosure Section 252.65
Reporting Section 252.16
Reporting Section 252.85(b)
Disclosure Section 252.167
Recordkeeping Section 252.153(e)(5)
Disclosure Section 252.153(e)(5) (Initial Setup)
Disclosure Section 252.167 (Initial Setup)
Disclosure Section 252.153(e)(5)

  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 588 902 -314 0 0 0
Annual Time Burden (Hours) 27,751 41,619 -13,868 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The estimated total annual burden for the FR YY is 41,619 hours, and would decrease to 27,751 hours with the adopted revisions. The estimated average hours per response for the reporting requirements in section 252.16 would decrease by 50 hours for initial setup and 20 hours for ongoing compliance. The initial reporting requirements for section 252.153(d) and the reporting requirements for section 252.122(b)(1)(iii) would be eliminated. The reporting requirements for section 252.146(c)(1)(iii) would be split out for Annual stress testing and Biennial stress testing. The recordkeeping requirements for sections 252.34(e)(3), 252.34(f), 252.34(h), and 252.35(a)(7) would be split out for Category I-III firms and Category IV firms. The recordkeeping requirements for sections 252.156(e), 252.156(g), and 252.157(a)(7) would be split out for Category II-III FBOs and Category IV FBOs.

$0
No
    No
    No
No
Yes
No
Uncollected
Mark Tokarski 202-452-5241 Mark.E.Tokarski@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.
04/21/2020


© 2024 OMB.report | Privacy Policy