80 FR 30248 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 80, Issue 101 (May 27, 2015)

Page Range		30248-30249
FR Document		2015-12740

On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board of Governors of the Federal Reserve System (Board) its approval authority under the Paperwork Reduction Act (PRA), to approve of and assign OMB numbers to collection of information requests and requirements conducted or sponsored by the Board. Board- approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the PRA Submission, supporting statements and approved collection of information instruments are placed into OMB's public docket files. The Federal Reserve may not conduct or sponsor, and the respondent is not required to respond to, an information collection that has been extended, revised, or implemented on or after October 1, 1995, unless it displays a currently valid OMB number.

Federal Register, Volume 80 Issue 101 (Wednesday, May 27, 2015)

[Federal Register Volume 80, Number 101 (Wednesday, May 27, 2015)]
[Notices]
[Pages 30248-30249]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2015-12740]

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FEDERAL RESERVE SYSTEM

Proposed Agency Information Collection Activities; Comment
Request

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: On June 15, 1984, the Office of Management and Budget (OMB)
delegated to the Board of Governors of the Federal Reserve System
(Board) its approval authority under the Paperwork Reduction Act (PRA),
to approve of and assign OMB numbers to collection of information
requests and requirements conducted or sponsored by the Board. Board-
approved collections of information are incorporated into the official
OMB inventory of currently approved collections of information. Copies
of the PRA Submission, supporting statements and approved collection of
information instruments are placed into OMB's public docket files. The
Federal Reserve may not conduct or sponsor, and the respondent is not
required to respond to, an information collection that has been
extended, revised, or implemented on or after October 1, 1995, unless
it displays a currently valid OMB number.

DATES: Comments must be submitted on or before July 27, 2015.

ADDRESSES: You may submit comments, identified by Reg W, by any of the
following methods:
Agency Web site: http://www.federalreserve.gov. Follow the
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
Email: regs.comments@federalreserve.gov. Include OMB
number in the subject line of the message.
FAX: (202) 452-3819 or (202) 452-3102.
Mail: Robert deV. Frierson, Secretary, Board of Governors
of the Federal Reserve System, 20th Street and Constitution Avenue NW.,
Washington, DC 20551.
All public comments are available from the Board's Web site at
http://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted,
unless modified for technical reasons. Accordingly, your comments will
not be edited to remove any identifying or contact information. Public
comments may also be viewed electronically or in paper form in Room
3515, 1801 K Street (between 18th and 19th Streets NW.) Washington, DC
20006 between 9:00 a.m. and 5:00 p.m. on weekdays.
Additionally, commenters may send a copy of their comments to the
OMB Desk Officer--Shagufta Ahmed--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.

FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission,
including the proposed reporting form and instructions, supporting
statement, and other documentation will be placed into OMB's public
docket files, once approved. These documents will also be made
available on the Federal Reserve Board's public Web site at: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested
from the agency clearance officer, whose name appears below.
Federal Reserve Board Acting Clearance Officer--Mark Tokarski--
Office of the Chief Data Officer, Board of Governors of the Federal
Reserve System, Washington, DC 20551 (202) 452-3829. Telecommunications
Device for the Deaf (TDD) users may contact (202) 263-4869, Board of
Governors of the Federal Reserve System, Washington, DC 20551.

SUPPLEMENTARY INFORMATION:

Request for Comment on Information Collection Proposal

The following information collection, which is being handled under
this delegated authority, has received initial Board approval and is
hereby published for comment. At the end of the comment period, the
proposed information collection, along with an analysis of comments and
recommendations received, will be submitted to the Board for final
approval under OMB delegated authority. Comments are invited on the
following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
b. The accuracy of the Federal Reserve's estimate of the burden of
the proposed information collection, including the validity of the
methodology and assumptions used;

[[Page 30249]]

c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of information collection on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
e. Estimates of capital or start up costs and costs of operation,
maintenance, and purchase of services to provide information.

Proposal To Approve Under OMB Delegated Authority the Extension for
Three Years, Without Revision, of the Following Report

Report title: Notice Requirements in Connection with Regulation W
(12 CFR part 223 Transactions Between Member Banks and Their
Affiliates).
Agency form number: Reg W.
OMB control number: 7100-0304.
Frequency: Event-generated.
Reporters: Insured depository institutions and uninsured member
banks.
Estimated annual reporting hours: 24 hours.
Estimated average hours per response: Loan participation renewal
notice, 2 hours; Acquisition notice, 6 hours; Internal corporate
reorganization transactions notice, 6 hours; and Section 23A additional
exemption notice, 10 hours.
Number of respondents: Loan participation renewal notice, 1;
Acquisition notice, 1; Internal corporate reorganization transactions
notice, 1; and Section 23A additional exemption notice, 1.
General description of report: This mandatory information
collection is required to evidence compliance with sections 23A and 23B
of the Federal Reserve Act (12 U.S.C. 371c and 371c-1). Confidential
and proprietary information collected for the purposes of the Loan
Participation Renewal notice (12 CFR 223.15(b)(4)) may be protected
under the authority of section (b)(4) of FOIA [5 U.S.C. 552(b)(4)].
That section of FOIA exempts commercial or financial information deemed
competitively sensitive from disclosure. Respondents who desire that
the information on this notice be kept confidential in accordance with
section (b)(4) can request confidential treatment under the Board's
rules at 12 CFR 261.15. In addition, information that is obtained as
part of an examination of a financial institution is exempt from
disclosure under exemption (b)(8) of FOIA. 5 U.S.C. 552(b)(8).
Abstract: On December 12, 2002, the Federal Reserve published a
Federal Register notice \1\ adopting Regulation W (Reg W) to implement
sections 23A and 23B. Reg W was effective April 1, 2003. The Board
issued Reg W for several reasons. First, the regulatory framework
established by the Gramm-Leach-Bliley Act \2\ emphasized the importance
of sections 23A and 23B as a means to protect depository institutions
from losses in transactions with affiliates. Second, adoption of a
comprehensive rule simplified the interpretation and application of
sections 23A and 23B, ensured that the statute is consistently
interpreted and applied, and minimized burden on banking organizations
to the extent consistent with the statute's goals. Third, issuing a
comprehensive rule allowed the public an opportunity to comment on
Federal Reserve interpretations of sections 23A and 23B.
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\1\ (67 FR 76603).
\2\ Public Law 106-102, 113 Stat. 1338 (1999).
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The information collection requirements associated with Regulation
W comprise four notices: (1) The Loan Participation Renewal notice (12
CFR 223.15(b)(4)), which is a condition to an exemption for renewals of
loan participations involving problem loans; (2) the Acquisition notice
(12 CFR 223.31(d)(4)), which is a condition to an exemption for a
depository institution's acquisition of an affiliate that becomes an
operating subsidiary of the institution after the acquisition; (3) the
Internal Corporate Reorganization Transactions notice (12 CFR
223.41(d)(2)), which is a condition to an exemption for internal
corporate reorganization transactions; and (4) the Section 23A
Additional Exemption notice (12 CFR 223.43(b)), which provides
procedures for requesting additional exemptions from the requirements
of section 23A. These notifications are event-generated and must be
provided to the appropriate federal banking agency and, if applicable,
the Federal Reserve Board within the time periods established by the
law and regulation.

Board of Governors of the Federal Reserve System, March 21,
2015.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2015-12740 Filed 5-26-15; 8:45 am]
BILLING CODE 6210-01-P

30248 Federal Register / Vol. 80, No. 101 / Wednesday, May 27, 2015 / Notices

B. Interbank Fee implementation costs and ongoing www.federalreserve.gov/apps/foia/
The Board recognizes that both ODFIs operating costs between ODFIs and proposedregs.aspx as submitted, unless
and RDFIs will need to make RDFIs. modified for technical reasons.
investments in systems and operations By order of the Board of Governors of the Accordingly, your comments will not be
to facilitate same-day ACH transactions. Federal Reserve System, May 21, 2015. edited to remove any identifying or
ODFIs have the choice of offering a Robert deV. Frierson, contact information. Public comments
same-day ACH service to originating Secretary of the Board. may also be viewed electronically or in
customers and may be able to offset [FR Doc. 2015–12739 Filed 5–26–15; 8:45 am]
paper form in Room 3515, 1801 K Street
their investment through additional (between 18th and 19th Streets NW.)
BILLING CODE 6210–01–P
service offerings and higher fees for Washington, DC 20006 between 9:00
same-day processing. RDFIs, in contrast, a.m. and 5:00 p.m. on weekdays.
would not be able to refuse receipt of FEDERAL RESERVE SYSTEM Additionally, commenters may send a
same-day ACH transactions under a copy of their comments to the OMB
mandatory participation requirement Proposed Agency Information Desk Officer—Shagufta Ahmed—Office
and may incur same-day settlement Collection Activities; Comment of Information and Regulatory Affairs,
costs that they are unable to fully offset Request Office of Management and Budget, New
through incremental revenue. As a Executive Office Building, Room 10235
AGENCY: Board of Governors of the 725 17th Street NW., Washington, DC
result, RDFIs may lack an effective Federal Reserve System.
method of offsetting the investment and 20503 or by fax to (202) 395–6974.
SUMMARY: On June 15, 1984, the Office
ongoing costs of same-day ACH FOR FURTHER INFORMATION CONTACT: A
of Management and Budget (OMB)
settlement. copy of the PRA OMB submission,
In light of this potential effect on delegated to the Board of Governors of
including the proposed reporting form
RDFIs, NACHA designed the interbank the Federal Reserve System (Board) its
and instructions, supporting statement,
fee to allow RDFIs to offset costs approval authority under the Paperwork
and other documentation will be placed
associated with the up-front Reduction Act (PRA), to approve of and
into OMB’s public docket files, once
investments and ongoing operating costs assign OMB numbers to collection of
approved. These documents will also be
necessary for accepting, posting, and information requests and requirements
conducted or sponsored by the Board. made available on the Federal Reserve
making funds available from same-day Board’s public Web site at: http://
transactions. The initial interbank fee Board-approved collections of
information are incorporated into the www.federalreserve.gov/apps/
under NACHA’s amended operating reportforms/review.aspx or may be
rules is 5.2 cents per forward official OMB inventory of currently
approved collections of information. requested from the agency clearance
transaction.16 The amended operating officer, whose name appears below.
rules provide that the interbank fee Copies of the PRA Submission,
supporting statements and approved Federal Reserve Board Acting
would be reduced if actual same-day Clearance Officer—Mark Tokarski—
transaction volume exceeds original collection of information instruments
are placed into OMB’s public docket Office of the Chief Data Officer, Board
projections by more than 25 percent of Governors of the Federal Reserve
during regularly required review files. The Federal Reserve may not
conduct or sponsor, and the respondent System, Washington, DC 20551 (202)
periods.17 Ten years after the final phase 452–3829. Telecommunications Device
of implementation is effective, and is not required to respond to, an
information collection that has been for the Deaf (TDD) users may contact
every ten years thereafter, NACHA will (202) 263–4869, Board of Governors of
reevaluate the interbank fee.18 In no extended, revised, or implemented on or
after October 1, 1995, unless it displays the Federal Reserve System,
instance may the interbank fee be Washington, DC 20551.
increased from its initial level of 5.2 a currently valid OMB number.
DATES: Comments must be submitted on SUPPLEMENTARY INFORMATION:
cents per forward transaction.
The Board requests comment on or before July 27, 2015. Request for Comment on Information
whether the interbank fee included in ADDRESSES: You may submit comments, Collection Proposal
NACHA’s amended operating rules identified by Reg W, by any of the
The following information collection,
equitably reapportions the initial following methods:
• Agency Web site: http:// which is being handled under this
16 In the amended operating rules, the interbank www.federalreserve.gov. Follow the delegated authority, has received initial
fee per transaction is equal to RDFIs’ estimated instructions for submitting comments at Board approval and is hereby published
costs of same-day ACH (plus a rate of return equal
http://www.federalreserve.gov/apps/ for comment. At the end of the comment
to 12.2%), divided by projected same-day ACH period, the proposed information
volume. To create the methodology for and the foia/proposedregs.aspx.
calculation of the interbank fee, NACHA engaged a • Federal eRulemaking Portal: http:// collection, along with an analysis of
consultant who surveyed and interviewed both www.regulations.gov. Follow the comments and recommendations
RDFIs and ODFIs to determine implementation and instructions for submitting comments. received, will be submitted to the Board
ongoing costs. The final interbank fee does not
include the allowance for lost opportunity costs
• Email: regs.comments@ for final approval under OMB delegated
that was included in NACHA’s December 2014 federalreserve.gov. Include OMB authority. Comments are invited on the
proposal. The original fee calculation proposed by number in the subject line of the following:
NACHA considered opportunity costs that included message. a. Whether the proposed collection of
the profits lost by RDFIs if some transactions
migrated to same-day ACH from other higher-
• FAX: (202) 452–3819 or (202) 452– information is necessary for the proper
mstockstill on DSK4VPTVN1PROD with NOTICES

margin payment methods. 3102. performance of the Federal Reserve’s
17 Same-day ACH volume will be reviewed five • Mail: Robert deV. Frierson, functions; including whether the
years and eight years after the final phase of Secretary, Board of Governors of the information has practical utility;
implementation is effective. Federal Reserve System, 20th Street and b. The accuracy of the Federal
18 NACHA’s reevaluation will not include
Constitution Avenue NW., Washington, Reserve’s estimate of the burden of the
recovered implementation costs, and will be based
on the average costs incurred by RDFIs, same-day DC 20551. proposed information collection,
ACH volumes, projected future developments, and All public comments are available including the validity of the
the extent to which the fee satisfied RDFI costs. from the Board’s Web site at http:// methodology and assumptions used;

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Federal Register / Vol. 80, No. 101 / Wednesday, May 27, 2015 / Notices 30249

c. Ways to enhance the quality, Register notice 1 adopting Regulation W Act of 1956 (12 U.S.C. 1841 et seq.)
utility, and clarity of the information to (Reg W) to implement sections 23A and (BHC Act), Regulation Y (12 CFR part
be collected; 23B. Reg W was effective April 1, 2003. 225), and all other applicable statutes
d. Ways to minimize the burden of The Board issued Reg W for several and regulations to become a bank
information collection on respondents, reasons. First, the regulatory framework holding company and/or to acquire the
including through the use of automated established by the Gramm-Leach-Bliley assets or the ownership of, control of, or
collection techniques or other forms of Act 2 emphasized the importance of the power to vote shares of a bank or
information technology; and sections 23A and 23B as a means to bank holding company and all of the
e. Estimates of capital or start up costs protect depository institutions from banks and nonbanking companies
and costs of operation, maintenance, losses in transactions with affiliates. owned by the bank holding company,
and purchase of services to provide Second, adoption of a comprehensive including the companies listed below.
information. rule simplified the interpretation and The applications listed below, as well
application of sections 23A and 23B, as other related filings required by the
Proposal To Approve Under OMB ensured that the statute is consistently Board, are available for immediate
Delegated Authority the Extension for interpreted and applied, and minimized inspection at the Federal Reserve Bank
Three Years, Without Revision, of the burden on banking organizations to the indicated. The applications will also be
Following Report extent consistent with the statute’s available for inspection at the offices of
Report title: Notice Requirements in goals. Third, issuing a comprehensive the Board of Governors. Interested
Connection with Regulation W (12 CFR rule allowed the public an opportunity persons may express their views in
part 223 Transactions Between Member to comment on Federal Reserve writing on the standards enumerated in
Banks and Their Affiliates). interpretations of sections 23A and 23B. the BHC Act (12 U.S.C. 1842(c)). If the
Agency form number: Reg W. The information collection proposal also involves the acquisition of
OMB control number: 7100–0304. requirements associated with Regulation a nonbanking company, the review also
Frequency: Event-generated. W comprise four notices: (1) The Loan includes whether the acquisition of the
Reporters: Insured depository Participation Renewal notice (12 CFR nonbanking company complies with the
institutions and uninsured member 223.15(b)(4)), which is a condition to an standards in section 4 of the BHC Act
banks. exemption for renewals of loan (12 U.S.C. 1843). Unless otherwise
Estimated annual reporting hours: 24 participations involving problem loans; noted, nonbanking activities will be
hours. (2) the Acquisition notice (12 CFR conducted throughout the United States.
Estimated average hours per response: 223.31(d)(4)), which is a condition to an Unless otherwise noted, comments
Loan participation renewal notice, 2 exemption for a depository institution’s regarding each of these applications
hours; Acquisition notice, 6 hours; acquisition of an affiliate that becomes must be received at the Reserve Bank
Internal corporate reorganization an operating subsidiary of the indicated or the offices of the Board of
transactions notice, 6 hours; and Section institution after the acquisition; (3) the Governors not later than June 19, 2015.
23A additional exemption notice, 10 Internal Corporate Reorganization A. Federal Reserve Bank of Richmond
hours. Transactions notice (12 CFR (Adam M. Drimer, Assistant Vice
Number of respondents: Loan 223.41(d)(2)), which is a condition to an President) 701 East Byrd Street,
participation renewal notice, 1; exemption for internal corporate Richmond, Virginia 23261–4528:
Acquisition notice, 1; Internal corporate reorganization transactions; and (4) the 1. Delmarva Bancshares, Inc.,
reorganization transactions notice, 1; Section 23A Additional Exemption Cambridge, Maryland; to acquire 100
and Section 23A additional exemption notice (12 CFR 223.43(b)), which percent of the voting shares of Easton
notice, 1. provides procedures for requesting Bancorp, Inc., and thereby indirectly
General description of report: This additional exemptions from the acquire voting shares of Easton Bank &
mandatory information collection is requirements of section 23A. These Trust Company, both in Easton,
required to evidence compliance with notifications are event-generated and Maryland.
sections 23A and 23B of the Federal must be provided to the appropriate
federal banking agency and, if Board of Governors of the Federal Reserve
Reserve Act (12 U.S.C. 371c and 371c– System, May 21, 2015.
1). Confidential and proprietary applicable, the Federal Reserve Board
within the time periods established by Michael J. Lewandowski,
information collected for the purposes
the law and regulation. Associate Secretary of the Board.
of the Loan Participation Renewal
[FR Doc. 2015–12722 Filed 5–26–15; 8:45 am]
notice (12 CFR 223.15(b)(4)) may be Board of Governors of the Federal Reserve
protected under the authority of section System, March 21, 2015. BILLING CODE 6210–01–P

(b)(4) of FOIA [5 U.S.C. 552(b)(4)]. That Robert deV. Frierson,
section of FOIA exempts commercial or Secretary of the Board.
financial information deemed [FR Doc. 2015–12740 Filed 5–26–15; 8:45 am]
competitively sensitive from disclosure. GENERAL SERVICES
BILLING CODE 6210–01–P
Respondents who desire that the ADMINISTRATION
information on this notice be kept
confidential in accordance with section FEDERAL RESERVE SYSTEM [OMB Control No. 3090–0080 Docket 2015–
(b)(4) can request confidential treatment 0001; Sequence 2]
under the Board’s rules at 12 CFR Formations of, Acquisitions by, and
mstockstill on DSK4VPTVN1PROD with NOTICES

261.15. In addition, information that is Mergers of Bank Holding Companies Submission to OMB for Review;
obtained as part of an examination of a General Services Administration
The companies listed in this notice Acquisition Regulation; Contract
financial institution is exempt from have applied to the Board for approval,
disclosure under exemption (b)(8) of Financing Final Payment (GSA Form
pursuant to the Bank Holding Company 1142 Release of Claims)
FOIA. 5 U.S.C. 552(b)(8).
Abstract: On December 12, 2002, the 1 (67 FR 76603). AGENCY: Office of Acquisition Policy,
Federal Reserve published a Federal 2 Public Law 106–102, 113 Stat. 1338 (1999). GSA.

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Document Created: 2015-12-15 15:35:48
Document Modified: 2015-12-15 15:35:48

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Dates		Comments must be submitted on or before July 27, 2015.
Contact		A copy of the PRA OMB submission, including the proposed reporting form and instructions, supporting statement, and other documentation will be placed into OMB's public docket files, once approved. These documents will also be made available on the Federal Reserve Board's public Web site at: http:// www.federalreserve.gov/apps/reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears below.
FR Citation		80 FR 30248