[Federal Register Volume 88, Number 40 (Wednesday, March 1, 2023)]
[Notices]
[Page 12936]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-04139]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval Under Delegated Authority and Submission to OMB
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
is adopting a proposal to extend for three years, with revision, the
Information Collections and Forms Related to Regulation MM (FR MM; OMB
No. 7100-0340).
FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of
Governors of the Federal Reserve System, [email protected], (202)
452-3884.
Office of Management and Budget (OMB) Desk Officer for the Federal
Reserve Board, Office of Information and Regulatory Affairs, Office of
Management and Budget, New Executive Office Building, Room 10235, 725
17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board
authority under the Paperwork Reduction Act (PRA) to approve and assign
OMB control numbers to collections of information conducted or
sponsored by the Board. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. The OMB inventory, as well as copies of the
PRA Submission, supporting statements (which contain more detailed
information about the information collections and burden estimates than
this notice), and approved collection of information instrument(s) are
available at https://www.reginfo.gov/public/do/PRAMain. These documents
are also available on the Federal Reserve Board's public website at
https://www.federalreserve.gov/apps/reportingforms/home/review or may
be requested from the agency clearance officer, whose name appears
above.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, With Revision, of the Following Information Collection
Collection title: Information Collections and Forms Related to
Regulation MM.
Collection identifier: FR MM.
OMB control number: 7100-0340.
Effective Date: The revisions are applicable as of March 1, 2023.
General description of collection: The FR MM consists of
information that must be filed in connection with certain proposals
involving savings and loan holding companies (SLHCs) that are organized
in mutual holding company (MHC) form, including the reorganization of a
savings association into MHC form, stock issuances of holding company
subsidiaries of MHCs, and conversions of MHCs to stock form, as well as
certain disclosures related to these filings. The Board requires the
submission of these filings to allow the Board to fulfill its
obligations to review such transactions under section 10(o) of the Home
Owners' Loan Act (HOLA), as amended (12 U.S.C. 1467a(o)) and the
Board's Regulation MM-Mutual Holding Companies (12 CFR part 239). The
Board uses the information submitted by an applicant or notificant to
evaluate these transactions with respect to the relevant statutory and
regulatory factors.
Frequency: On occasion.
Respondents: Mutual savings associations that wish to reorganize to
form a mutual holding company under the HOLA, subsidiary holding
companies of a mutual holding company, mutual holding companies, and
members of applying mutual organizations.
Total estimated number of respondents: 19.
Total estimated change in burden: (139).
Total estimated annual burden hours: 553.\1\
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\1\ More detailed information regarding this collection,
including more detailed burden estimates, can be found in the OMB
Supporting Statement posted at https://www.federalreserve.gov/apps/reportingforms/home/review. On the page displayed at the link, you
can find the OMB Supporting Statement by referencing the collection
identifier, FR MM.
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Current actions: On November 4, 2022, the Board published a notice
in the Federal Register (87 FR 66700) requesting public comment for 60
days on the extension, with revision, of the FR MM. The comment period
for this notice expired on January 3, 2023. The Board did not receive
any comments. The revisions will be implemented as proposed.
Board of Governors of the Federal Reserve System, February 23,
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-04139 Filed 2-28-23; 8:45 am]
BILLING CODE 6210-01-P