80 FR 49999 - Agency Information Collection Activities: Submission for OMB Review; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 80, Issue 159 (August 18, 2015)

In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), the Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the agencies) may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. On May 6, 2015, the Board, under the auspices of the Federal Financial Institutions Examination Council (FFIEC) and on behalf of the agencies, published a notice in the Federal Register (80 FR 26050) requesting public comment on the extension, without revision, of the Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks (FFIEC 002), the Report of Assets and Liabilities of a Non-U.S. Branch that is Managed or Controlled by a U.S. Branch or Agency of a Foreign (Non-U.S.) Bank (FFIEC 002S), and the Country Exposure Report for U.S. Branches and Agencies of Foreign Banks (FFIEC 019), which are currently approved information collections. The comment period for this notice expired on July 6, 2015. The agencies received one comment expressing support for the renewal of the FFIEC 002 and FFIEC 002S. The Board hereby gives notice that it plans to submit to OMB on behalf of the agencies a request for approval of the extension, without revision, of the FFIEC 002, FFIEC 002S, and FFIEC 019.

[Federal Register Volume 80, Number 159 (Tuesday, August 18, 2015)]
[Notices]
[Pages 49999-50000]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-20275]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Notice of information collection to be submitted to OMB for 
review and approval under the Paperwork Reduction Act of 1995.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995 (44 U.S.C. chapter 35), the Board, the Federal Deposit 
Insurance Corporation (FDIC), and the Office of the Comptroller of the 
Currency (OCC) (collectively, the agencies) may not conduct or sponsor, 
and the respondent is not required to respond to, an information 
collection unless it displays a currently valid Office of Management 
and Budget (OMB) control number.
    On May 6, 2015, the Board, under the auspices of the Federal 
Financial Institutions Examination Council (FFIEC) and on behalf of the 
agencies, published a notice in the Federal Register (80 FR 26050) 
requesting public comment on the extension, without revision, of the 
Report of Assets and Liabilities of U.S. Branches and Agencies of 
Foreign Banks (FFIEC 002), the Report of Assets and Liabilities of a 
Non-U.S. Branch that is Managed or Controlled by a U.S. Branch or 
Agency of a Foreign (Non-U.S.) Bank (FFIEC 002S), and the Country 
Exposure Report for U.S. Branches and Agencies of Foreign Banks (FFIEC 
019), which are currently approved information collections. The comment 
period for this notice expired on July 6, 2015. The agencies received 
one comment expressing support for the renewal of the FFIEC 002 and 
FFIEC 002S. The Board hereby gives notice that it plans to submit to 
OMB on behalf of the agencies a request for approval of the extension, 
without revision, of the FFIEC 002, FFIEC 002S, and FFIEC 019.

DATES: Comments must be submitted on or before September 17, 2015.

ADDRESSES: Interested parties are invited to submit written comments to 
the agency listed below. All comments will be shared among the 
agencies. You may submit comments, identified by FFIEC 002, FFIEC 002S, 
or FFIEC 019, by any of the following methods:
     Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments on http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include the OMB 
control numbers 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 NW. (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

[[Page 50000]]

desk officer for the agencies by mail to the Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, 725 17th Street NW., Washington, DC 20503; 
by fax to (202) 395-6974; or by email to [email protected].

FOR FURTHER INFORMATION CONTACT: Additional information or a copy of 
the collections may be requested from Nuha Elmaghrabi, Federal Reserve 
Board Clearance Officer, (202) 452-3829, Office of the Chief Data 
Officer, Board of Governors of the Federal Reserve System, 20th and C 
Streets NW., Washington, DC 20551. Telecommunications Device for the 
Deaf (TDD) users may call (202) 263-4869.

SUPPLEMENTARY INFORMATION: Proposal to request approval from OMB of the 
extension for three years, without revision, of the following reports:
    1. Report titles: Report of Assets and Liabilities of U.S. Branches 
and Agencies of Foreign Banks; Report of Assets and Liabilities of a 
Non-U.S. Branch that is Managed or Controlled by a U.S. Branch or 
Agency of a Foreign (Non-U.S.) Bank.
    Agency form numbers: FFIEC 002; FFIEC 002S.
    OMB control number: 7100-0032.
    Frequency of response: Quarterly.
    Affected public: U.S. branches and agencies of foreign banks.
    Number of respondents: FFIEC 002--223; FFIEC 002S--49.
    Estimated average time per response: FFIEC 002--25.43 hours; FFIEC 
002S--6.0 hours.
    Estimated total annual burden: FFIEC 002--22,684 hours; FFIEC 
002S--1,176 hours.
    General description of reports: These information collections are 
mandatory (12 U.S.C. 3105(c)(2), 1817(a)(1) and (3), and 3102(b)). 
Except for select sensitive items, the FFIEC 002 is not given 
confidential treatment; the FFIEC 002S is given confidential treatment 
(5 U.S.C. 552(b)(4) and (8)).
    Abstract: On a quarterly basis, all U.S. branches and agencies of 
foreign banks are required to file the FFIEC 002, which is a detailed 
report of condition with a variety of supporting schedules. This 
information is used to fulfill the supervisory and regulatory 
requirements of the International Banking Act of 1978. The data are 
also used to augment the bank credit, loan, and deposit information 
needed for monetary policy and other public policy purposes. The FFIEC 
002S is a supplement to the FFIEC 002 that collects information on 
assets and liabilities of any non-U.S. branch that is managed or 
controlled by a U.S. branch or agency of the foreign bank. Managed or 
controlled means that a majority of the responsibility for business 
decisions, including but not limited to decisions with regard to 
lending or asset management or funding or liability management, or the 
responsibility for recordkeeping in respect of assets or liabilities 
for that foreign branch, resides at the U.S. branch or agency. A 
separate FFIEC 002S must be completed for each managed or controlled 
non-U.S. branch. The FFIEC 002S must be filed quarterly along with the 
U.S. branch or agency's FFIEC 002. The data from both reports are used 
for (1) monitoring deposit and credit transactions of U.S. residents; 
(2) monitoring the impact of policy changes; (3) analyzing structural 
issues concerning foreign bank activity in U.S. markets; (4) 
understanding flows of banking funds and indebtedness of developing 
countries in connection with data collected by the International 
Monetary Fund and the Bank for International Settlements that are used 
in economic analysis; and (5) assisting in the supervision of U.S. 
offices of foreign banks. The Federal Reserve System collects and 
processes these reports on behalf of all three agencies. No changes 
were proposed to the FFIEC 002 and FFIEC 002S reporting forms or 
instructions.
    2. Report title: Country Exposure Report for U.S. Branches and 
Agencies of Foreign Banks.
    Agency form number: FFIEC 019.
    OMB control number: 7100-0213.
    Frequency of response: Quarterly.
    Affected public: U.S. branches and agencies of foreign banks.
    Number of respondents: 167.
    Estimated average time per response: 10 hours.
    Estimated total annual burden: 6,680 hours.
    General description of reports: This information collection is 
mandatory (12 U.S.C. 3906 for all agencies); 12 U.S.C. 3105 and 3108 
for the Board; 12 U.S.C. 1817 and 1820 for the FDIC; and 12 U.S.C. 161 
for the OCC. This information collection is given confidential 
treatment under the Freedom of Information Act (5 U.S.C. 552(b)(8)).
    Abstract: All individual U.S. branches and agencies of foreign 
banks that have more than $30 million in direct claims on residents of 
foreign countries must file the FFIEC 019 report quarterly. Currently, 
all respondents report adjusted exposure amounts to the five largest 
countries having at least $20 million in total adjusted exposure. The 
agencies collect this data to monitor the extent to which such branches 
and agencies are pursuing prudent country risk diversification policies 
and limiting potential liquidity pressures. No changes were proposed to 
the FFIEC 019 reporting form or instructions.

    Board of Governors of the Federal Reserve System, August 12, 
2015.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2015-20275 Filed 8-17-15; 8:45 am]
 BILLING CODE 6210-01-P