Reporting, Recordkeeping, and
Disclosure Requirements Associated with Regulation Q
Revision of a currently approved collection
No
Emergency
03/09/2021
03/09/2021
Requested
Previously Approved
6 Months From Approved
03/31/2023
3,309
3,277
81,381
81,309
0
0
The Board’s Regulation Q - Capital
Adequacy of Bank Holding Companies, Savings and Loan Holding
Companies, and State Member Banks (12 CFR Part 217) sets forth the
capital adequacy requirements for state member banks (SMBs), BHCs,
U.S. intermediate holding companies (IHCs), and covered savings and
loan holding companies (SLHCs) (collectively, Board-regulated
institutions).
The delegation of
authority to the Board from OMB that permits the Board to approve
collections of information under the Paperwork Reduction Act
includes the authority to temporarily approve a collection of
information without seeking public comment. To exercise this
authority, the Board must determine that a new collection of
information or a change to an existing collection must be
instituted quickly and that public participation in the approval
process would substantially interfere with the Board’s ability to
perform its statutory obligation. Following the temporary approval
of an information collection, the Board must conduct a normal
delegated review of the collection within six months, including
publishing in the Federal Register a notice seeking public comment.
In response to recent economic disruptions and volatility in U.S.
financial markets caused by the spread of Coronavirus Disease 2019
(COVID-19), the Board and the agencies issued interim final rules
(IFRs) that revised, on a temporary basis, the disclosure
requirements contained in the Board’s Regulation Q and introduced a
new notice opt-in provision and a requirement for prior Board
approval for certain capital distributions by SMBs. The Board has
proposed to extend these temporary revisions so that they would be
effective for the FR Q through March 31, 2021, the date on which
the relevant IFR provisions would expire.
US Code:
12
USC 1831o(c) Name of Law: Federal Deposit Insurance Act
US Code:
12 USC 3907(a)(1) Name of Law: International Lending
Supervision Act of 1983
US Code: 12
USC 324 Name of Law: Federal Reserve Act
US Code: 12
USC 1844(c) Name of Law: Bank Holding Company Act of 1956
The estimated total annual
burden for the FR Q is 81,309 hours, and would increase to 81,381
with the revisions. The Board believes that the new reporting
requirements will amount to 12 burden hours per respondent (two
responses per respondent at six hours per response).
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.
FRQ_20210309_omb_emergency.pdf
Risk-based Capital Surcharge for GSIBs - Recordkeeping Sections 217.402 and 217.403