FR 2030

Application for Federal Reserve Bank Stock (for use by de novo national banks)

Description: The FR 2030 is an application for the issuance of Federal Reserve Bank stock and is submitted by de novo national banks. The application requires a resolution by the applying bank's board of directors authorizing the transaction, an indication of the capital and surplus of the bank, and an indication of the number of shares and dollar amount of Federal Reserve Bank stock to be purchased.

OMB: 7100-0042

Purpose: The application is required by the Federal Reserve Act and Regulation I and is necessary in order to obtain account data on the bank's capital and surplus and to properly document requests for issuance of Federal Reserve Bank stock.

Background: National banks are required to become members of the Federal Reserve System and must subscribe to the capital stock of the Federal Reserve Bank of the district in which the bank is located.

Respondent Panel: Organizing national banks.

Frequency: Event generated.

Public Release: The information is not published but is not considered confidential.

Last Update: January 15, 2020