80 FR 76490 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB

FEDERAL RESERVE SYSTEM

Federal Register Volume 80, Issue 236 (December 9, 2015)

Notice is hereby given of the final approval of a proposed information collection by the Board of Governors of the Federal Reserve System (Board) under OMB delegated authority. Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the Paperwork Reduction Act Submission, supporting statements and approved collection of information instrument(s) 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 control number.

[Federal Register Volume 80, Number 236 (Wednesday, December 9, 2015)]
[Notices]
[Pages 76490-76491]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-31039]


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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: Notice is hereby given of the final approval of a proposed 
information collection by the Board of Governors of the Federal Reserve 
System (Board) under OMB delegated authority. Board-approved 
collections of information are incorporated into the official OMB 
inventory of currently approved collections of information. Copies of 
the Paperwork Reduction Act Submission, supporting statements and 
approved collection of information instrument(s) 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 control 
number.

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, 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.
    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.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following report:
    Report title: Requirements for Disclosure and Reporting of 
Community Reinvestment Act (CRA)-Related Agreements (Regulation G).
    Agency form number: Reg G.
    OMB control number: 7100-0299.
    Frequency: On occasion and annual.
    Reporters: State member banks and their subsidiaries; bank holding 
companies; savings and loan holding companies; and affiliates of bank 
holding companies and savings and loan holding institutions, other than 
banks, savings associations and subsidiaries of banks and savings 
associations; and nongovernmental entities or persons (NGEPs) that 
enter into covered agreements with any of the aforementioned companies.
    Estimated annual reporting hours: Disclosure burden for insured 
depository institutions (IDI) and affiliates: Covered agreements to 
public, 6 hours; and Agreements relating to activities of CRA 
affiliates, 6 hours; Reporting burden for IDI and affiliates: Copy of 
agreements to agency, 8 hours; List of agreements to agency, 8 hours; 
Annual report, 8 hours; and Filing NGEP annual report, 6 hours; 
Disclosure burden for NGEP: Covered agreements to public, 6 hours; 
Reporting burden for NGEP: Copy of agreements to agency, 6 hours; and 
Annual report, 24 hours.
    Estimated average hours per response: Disclosure burden for IDI and 
affiliates: Covered agreements to public, 1 hour; and Agreements 
relating to activities of CRA affiliates, 1 hour; Reporting burden for 
IDI and affiliates: Copy of agreements to agency, 1 hour; List of 
agreements to agency, 1 hour; Annual report, 4 hours; and Filing NGEP 
annual report, 1 hour; Disclosure burden for NGEP: Covered agreements 
to public, 1 hour; Reporting burden for NGEP: Copy of agreements to 
agency, 1 hour; and Annual report, 4 hours.
    Number of respondents: Disclosure burden for IDI and affiliates: 
Covered agreements to public, 2 respondents; and Agreements relating to 
activities of CRA affiliates, 2 respondents; Reporting burden for IDI 
and affiliates: Copy of agreements to agency, 2 respondents; List of 
agreements to agency, 2 respondents; Annual report, 2 respondents; and 
Filing NGEP annual report, 2 respondents; Disclosure burden for NGEP: 
Covered agreements to public, 6 respondents; Reporting burden for NGEP: 
Copy of agreements to agency, 6 respondents; and Annual report, 6 
respondents.
    General description of report: This information collection is 
mandatory pursuant to Section 48 of the Federal Deposit Insurance Act 
(12 U.S.C. 1831y). The Board does not generally consider the 
information obtained under Regulation G to be confidential. However, a 
respondent may request confidential treatment under section (b)(4) of 
the Freedom of Information Act (FOIA). Section (b)(4) provides an 
exemption for ``trade secrets and commercial or financial information 
obtained from a person and privileged or confidential'' (5 U.S.C. 
552(b)(4)). In order for a respondent to avail itself of this 
exemption, the respondent would have to show that the release of 
information would likely cause substantial harm to their competitive 
position. In addition, the information obtained under Regulation G may 
in appropriate circumstances also be withheld pursuant to section 
(b)(8) of the FOIA, which exempts information contained in 
``examination, operating, or condition reports prepared by, on behalf 
of, or for the use of an agency responsible for the regulation or 
supervision of financial institutions'' (5 U.S.C. 552(b)(8)).
    Abstract: Regulation G implements provisions of the Gramm-Leach-
Bliley Act (GLBA) that require reporting and public disclosure of 
written agreements between (1) IDIs or their affiliates and (2) NGEPs, 
that are made in connection with the fulfillment of CRA

[[Page 76491]]

requirements.\1\ The GLBA requires both IDIs and NGEPs to make a copy 
of any CRA-Related agreement available upon request and file an annual 
report with each relevant supervisory agency regarding the use of funds 
under such agreement for that fiscal year. In addition, an IDI and 
affiliate must provide to the relevant supervisory agency each calendar 
quarter a list of all CRA-related agreements entered into during the 
quarter with a copy of the agreement.
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    \1\ 12 U.S.C. 2901 et seq.
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    Current Actions: On September 23, 2015 the Federal Reserve 
published a notice in the Federal Register (80 FR 57374) requesting 
public comment for 60 days on the extension, without revision, of the 
Requirements for Disclosure and Reporting of CRA-Related Agreements 
(Regulation G). The comment period for this notice expired on November 
23, 2015. The Federal Reserve did not receive any comments. The 
information collection will be extended for three years, without 
revision, as proposed.

    Board of Governors of the Federal Reserve System, December 4, 
2015.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2015-31039 Filed 12-8-15; 8:45 am]
BILLING CODE 6210-01-P