Reporting Requirements Associated with Regulation XX

ICR 202312-7100-003

OMB: 7100-0363

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Justification for No Material/Nonsubstantive Change
2023-12-09
IC Document Collections
IC ID
Document
Title
Status
245076 Modified
214215
Modified
214213
Modified
214211
Modified
ICR Details
7100-0363 202312-7100-003
Historical Active 202004-7100-011
FRS FR XX
Reporting Requirements Associated with Regulation XX
No material or nonsubstantive change to a currently approved collection   No
Delegated
Approved without change 12/09/2023
Retrieve Notice of Action (NOA) 12/09/2023
  Inventory as of this Action Requested Previously Approved
12/31/2023 12/31/2023 12/31/2023
38 0 40
97 0 100
0 0 0

The Board’s Regulation XX - Concentration Limit (12 CFR Part 251) implements section 14 of the Bank Holding Company Act of 1956 (BHC Act), which establishes a financial sector concentration limit that generally prohibits a financial company from merging or consolidating with, or otherwise acquiring, another company if the resulting company’s liabilities upon consummation would exceed 10 percent of the aggregate liabilities of all financial companies (a covered acquisition). Under section 14 of the BHC Act and Regulation XX, a financial company means (1) an insured depository institution, (2) a bank holding company, (3) a savings and loan holding company, (4) any other company that controls an insured depository institution, (5) a nonbank financial company designated by the Financial Stability Oversight Council (Council) for supervision by the Board, or (6) a foreign bank or company that is treated as a bank holding company for purposes of the BHC Act. Regulation XX includes certain reporting requirements that apply to financial companies, and the FR XX-1 report collects information from certain financial companies that do not otherwise report consolidated financial information to the Board or another Federal banking agency.

US Code: 12 USC 1467a(b) and (g) Name of Law: Home Owners’ Loan Act
   US Code: 12 USC 248(a) Name of Law: Federal Reserve Act
   US Code: 12 USC 324 Name of Law: Federal Reserve Act
   US Code: 12 USC 3105(c)(2) Name of Law: International Banking Act of 1978
   US Code: 12 USC 1852(d) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
  
None

Not associated with rulemaking

  85 FR 51713 08/21/2020
85 FR 80099 12/11/2020
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 38 40 0 0 -2 0
Annual Time Burden (Hours) 97 100 0 0 -3 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The decrease in total annual burden hours reflects an update to the respondent count and standardizing the estimated average hours per response burden.

$24,700
No
    Yes
    No
No
No
No
No
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.
12/09/2023


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