81_FR_13841 81 FR 13791 - Proposed Agency Information Collection Activities; Comment Request

81 FR 13791 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 81, Issue 50 (March 15, 2016)

Page Range13791-13793
FR Document2016-05808

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 81 Issue 50 (Tuesday, March 15, 2016) 
[Federal Register Volume 81, Number 50 (Tuesday, March 15, 2016)]
[Notices]
[Pages 13791-13793]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-05808]


-----------------------------------------------------------------------

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 May 16, 2016.

ADDRESSES: You may submit comments, identified by FR 4198 or FR 4203 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: [email protected]. 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.

[[Page 13792]]

    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 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.

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;
    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 startup 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 Reports

    1. Report title: Funding and Liquidity Risk Management Guidance.
    Agency form number: FR 4198.
    OMB control number: 7100-0326.
    Frequency: On occasion and monthly.
    Reporters: Bank holding companies, savings and loan holding 
companies, state member banks, state-licensed branches and agencies of 
foreign banks (other than insured branches), and corporations organized 
or operating under sections 25 or 25A of the Federal Reserve Act 
(agreement corporations and Edge corporations).
    Estimated annual burden hours: Section 14 strategic planning and 
budgeting process: Large institutions: 20,160 hours; mid-sized 
institutions: 17,520 hours; small institutions: 428,080 hours. Section 
20 liquidity risk reporters: 261,696 hours.
    Estimated average hours per response: Section 14 strategic planning 
and budgeting process: Large institutions: 720 hours; mid-sized 
institutions: 240 hours; small institutions: 80 hours. Section 20 
liquidity risk reporters: 4 hours.
    Number of respondents: Section 14 strategic planning and budgeting 
process: Large institutions: 28; mid-sized institutions: 73; small 
institutions: 5,351. Section 20 liquidity risk reporters: 5,452.
    General description of report: The Board's Legal Division has 
determined that this information collection is mandatory based on the 
following relevant statutory provisions.
     Section 9(6) of the Federal Reserve Act (12 U.S.C. 324) 
requires state member banks to make reports of condition to their 
supervising Reserve Bank in such form and containing such information 
as the Board may require.
     Section 5(c) of the Bank Holding Company Act (12 U.S.C. 
1844(c)) authorizes the Board to require a BHC and any subsidiary to 
submit reports to keep the Board informed as to its financial 
condition, [and] systems for monitoring and controlling financial and 
operating risk.
     Section 7(c)(2) of the International Banking Act of 1978 
(12 U.S.C. 3105(c)(2) requires branches and agencies of foreign banking 
organizations to file reports of condition with the Federal Reserve to 
the same extent and in the same manner as if the branch or agency were 
a state member bank.
     Section 25A of the Federal Reserve Act (12 U.S.C. 625) 
requires Edge and agreement corporations to make reports to the Board 
at such time and in such form as it may require.
     Section 10(b) of the Home Owners' Loan Act requires an 
SLHC to file reports on the operation of the SLHC and any subsidiary as 
the Board may require and in such form and for such periods as the 
Board may require.
    Because the records required by the Guidance are maintained at the 
institution, issues of confidentiality are not expected to arise. 
Should the documents be obtained by the Federal Reserve System during 
the course of an examination, they would be exempt from disclosure 
under exemption 8 of FOIA, 5 U.S.C. 552(b)(8). In addition, some or all 
of the information may be ``commercial or financial'' information 
protected from disclosure under exemption 4 of FOIA, under the 
standards set forth in National Parks & Conservation Ass'n v. Morton, 
498 F.2d 765 (D.C. Cir. 1974).
    Abstract: On March 22, 2010, the Office of the Comptroller of the 
Currency (OCC), the Office of Thrift Supervision (OTS), the Federal 
Reserve, and the Federal Deposit Insurance Corporation (FDIC), and the 
National Credit Union Administration (NCUA) (the agencies) published a 
joint final notice in the Federal Register implementing guidance titled 
``Interagency Policy Statement on Funding and Liquidity Risk 
Management'' (the ``Guidance''), effective May 21, 2010.\1\
---------------------------------------------------------------------------

    \1\ 75 FR 13656 (March 22, 2010).
---------------------------------------------------------------------------

    The Guidance summarizes the principles of sound liquidity risk 
management that the agencies have issued in the past and, where 
appropriate, brings them into conformance with the ``Principles for 
Sound Liquidity Risk Management and Supervision'' issued by the Basel 
Committee on Banking Supervision (BCBS) in September 2008. While the 
BCBS liquidity principles primarily focuses on large internationally 
active financial institutions, the Guidance emphasizes supervisory 
expectations for

[[Page 13793]]

all domestic financial institutions including banks, thrifts and credit 
unions.
    The agencies \2\ have identified two sections of the Guidance that 
fall under the definition of an information collection. Section 14 
states that institutions should consider liquidity costs, benefits, and 
risks in strategic planning and budgeting processes. Section 20 
requires that liquidity risk reports provide aggregate information with 
sufficient supporting detail to enable management to assess the 
sensitivity of the institution to changes in market conditions, its own 
financial performance, and other important risk factors.
---------------------------------------------------------------------------

    \2\ As part of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act, the OTS was abolished and its functions and powers 
were transferred to the OCC, the FDIC, and the Federal Reserve.
---------------------------------------------------------------------------

    Current Actions: The Federal Reserve proposes to extend, without 
revision, the FR 4198 information collection.
    2. Report title: Recordkeeping Provisions Associated with Guidance 
on Leveraged Lending.
    Agency form number: FR 4203.
    OMB control number: 7100-0354.
    Frequency: On occasion.
    Reporters: All institutions that originate or participate in 
leverage lending.
    Estimated annual burden hours: 29,422 hours.
    Estimated average hours per response: 754.4 hours.
    Number of respondents: 39.
    General description of report: The Board's Legal Division has 
determined that all financial institutions supervised by the Board and 
substantively engaged in leveraged lending activities are subject to 
the FR 4203:
     Regarding state member banks, the information collection 
is authorized by Section 11(a)(2) of the Federal Reserve Act, 12 U.S.C. 
248(a)(2), which authorizes the Board to require any depository 
institution to make such reports of its assets and liabilities as the 
Board may determine to be necessary or desirable to enable the Board to 
discharge its responsibilities to monitor and control monetary and 
credit aggregates.
     With respect to bank holding companies, Section 5(c) of 
the Bank Holding Company Act, 12 U.S.C. 1844(c), authorizes the Board 
to require a bank holding company and any subsidiary ``to keep the 
Board informed as to--(i) its financial condition, [and] systems for 
monitoring and controlling financial and operating risks. . . .''
     With respect to savings and loan holding companies, 12 
U.S.C. 1467a(b)(3), authorizes the Board to ``maintain such books and 
records as may be prescribed by the Board.''
     Regarding branches and agencies of foreign banking 
organizations, Section 7(c)(2) of the International Banking Act of 
1978, 12 U.S.C. 3105(c)(2), subjects such entities to the requirements 
of section 11(a) of the Federal Reserve Act (12 U.S.C. 248(a)) ``to the 
same extent and in the same manner as if the branch or agency were a 
state member bank.''
     Under Section 25 of the Federal Reserve Act, 12 U.S.C. 
602, member banks are required to furnish to the Board ``information 
concerning the condition of'' Edge and Agreement Corporations in which 
they invest. More generally with respect to Edge and Agreement 
Corporations, under Section 25A of the Federal Reserve Act, 12 U.S.C. 
611a, the Federal Reserve may ``issue rules and regulations'' governing 
such entities ``consistent with and in furtherance of the purposes'' of 
that subchapter.
    Because the information collection is called for in guidance and 
not in a statute or regulation, it is considered voluntary.
    Because the information collected by the Proposed Guidance is 
maintained at the institutions, issues of confidentiality would not 
normally arise. Should the information be obtained by the Board in the 
course of an examination, it would be exempt from disclosure under 
exemption 8 of Freedom of Information Act (FOIA), 5 U.S.C. 552(b)(8). 
In addition, some or all of the information may be confidential 
commercial or financial information protected from disclosure under 
exemption 4 of FOIA, under the standards set forth in National Parks & 
Conservation Ass'n v. Morton, 498 F.2d 765 (D.C. Cir. 1974).
    Abstract: The interagency guidance outlines high-level principles 
related to safe and sound leveraged lending activities, including 
underwriting considerations, assessing and documenting enterprise 
value, risk management expectations for credits awaiting distribution, 
stress testing expectations and portfolio management, and risk 
management expectations. This guidance applies to all financial 
institutions substantively engaged in leveraged lending activities 
supervised by the Federal Reserve, FDIC, and OCC (the Agencies).
    The Agencies identified certain aspects of the proposed guidance 
that may constitute a collection of information. In particular, these 
aspects are the provisions that state a banking organization should (a) 
have underwriting policies for leveraged lending, including stress 
testing procedures for leveraged credits; (b) have risk management 
policies, including stress testing procedures for pipeline exposures; 
and (c) have policies and procedures for incorporating the results of 
leveraged credit and pipeline stress tests into the firm's overall 
stress testing framework.
    Although the guidance is applicable to all institutions that 
originate or participate in leverage lending, due to the large 
exposures created by these types of loans, these credits are most 
likely originated primarily by larger institutions.
    Current Actions: The Federal Reserve proposes to extend, without 
revision, the FR 4203 information collection.

    Board of Governors of the Federal Reserve System, March 10, 
2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-05808 Filed 3-14-16; 8:45 am]
 BILLING CODE 6210-01-P

Federal Register / Vol. 81, No. 50 / Tuesday, March 15, 2016 / Notices 13791 Responses to the collection of submission of the ICR to OMB and the percent of the voting shares of Randolph information are mandatory (see 40 CFR opportunity to submit additional Savings Bank, Stoughton, part 790). Respondents may claim all or comments to OMB. If you have any Massachusetts, with the conversion of part of a notice as CBI. EPA will questions about this ICR or the approval Randolph Bancorp, from mutual to disclose information that is covered by process, please contact the technical stock form. a CBI claim only to the extent permitted person listed under FOR FURTHER Board of Governors of the Federal Reserve by, and in accordance with, the INFORMATION CONTACT. System, March 10, 2016. procedures in 40 CFR part 2. Authority: 44 U.S.C. 3501 et seq. Michael J. Lewandowski, Burden statement: The annual public Associate Secretary of the Board. reporting and recordkeeping burden for Dated: March 3, 2016. James Jones, [FR Doc. 2016–05778 Filed 3–14–16; 8:45 am] this collection of information is BILLING CODE 6210–01–P estimated to range between 8.5 and 243 Assistant Administrator, Office of Chemical hours per response, not including CDX Safety and Pollution Prevention. registration, and 0.53 hours per CDX [FR Doc. 2016–05821 Filed 3–14–16; 8:45 am] FEDERAL RESERVE SYSTEM registration. Burden is defined in 5 CFR BILLING CODE 6560–50–P 1320.3(b). Proposed Agency Information The ICR, which is available in the Collection Activities; Comment docket along with other related FEDERAL RESERVE SYSTEM Request materials, provides a detailed explanation of the collection activities Formations of, Acquisitions by, and AGENCY: Board of Governors of the and the burden estimate that is only Mergers of Bank Holding Companies Federal Reserve System. SUMMARY: On June 15, 1984, the Office briefly summarized here: The companies listed in this notice of Management and Budget (OMB) Respondents/Affected Entities: have applied to the Board for approval, delegated to the Board of Governors of Entities potentially affected by this ICR pursuant to the Bank Holding Company the Federal Reserve System (Board) its are manufacturers, processors, Act of 1956 (12 U.S.C. 1841 et seq.) approval authority under the Paperwork importers, users, distributors or (BHC Act), Regulation Y (12 CFR part Reduction Act (PRA), to approve of and disposers of one or more specified 225), and all other applicable statutes assign OMB numbers to collection of chemical substances. Estimated total number of potential and regulations to become a bank information requests and requirements respondents: 15. holding company and/or to acquire the conducted or sponsored by the Board. Frequency of response: On occasion. assets or the ownership of, control of, or Board-approved collections of Estimated total average number of the power to vote shares of a bank or information are incorporated into the responses for each respondent: 5.6. bank holding company and all of the official OMB inventory of currently Estimated total annual burden hours: banks and nonbanking companies approved collections of information. 3,055 hours. owned by the bank holding company, Copies of the PRA Submission, Estimated total annual costs: including the companies listed below. supporting statements and approved $27,089,112. This includes an estimated The applications listed below, as well collection of information instruments burden cost of $58,917 and an estimated as other related filings required by the are placed into OMB’s public docket cost of $27,030,195 for capital Board, are available for immediate files. The Federal Reserve may not investment or maintenance and inspection at the Federal Reserve Bank conduct or sponsor, and the respondent operational costs (namely laboratory test indicated. The applications will also be is not required to respond to, an costs). available for inspection at the offices of information collection that has been the Board of Governors. Interested extended, revised, or implemented on or III. Are there changes in the estimates persons may express their views in after October 1, 1995, unless it displays from the last approval? writing on the standards enumerated in a currently valid OMB number. There is a decrease of 626,838 hours the BHC Act (12 U.S.C. 1842(c)). If the DATES: Comments must be submitted on in the total estimated respondent proposal also involves the acquisition of or before May 16, 2016. burden compared with that identified in a nonbanking company, the review also ADDRESSES: You may submit comments, the ICR currently approved by OMB. includes whether the acquisition of the identified by FR 4198 or FR 4203 by any This decrease mainly reflects nonbanking company complies with the of the following methods: corrections to the previous renewal of standards in section 4 of the BHC Act • Agency Web site: http:// this collection, plus reduced levels of (12 U.S.C. 1843). Unless otherwise www.federalreserve.gov. Follow the activity in test rules, methodological noted, nonbanking activities will be instructions for submitting comments at corrections and updates, and conducted throughout the United States. http://www.federalreserve.gov/apps/ requirements for electronic reporting of Unless otherwise noted, comments foia/proposedregs.aspx. information. This change is both a regarding each of these applications • Federal eRulemaking Portal: http:// program change (electronic reporting) must be received at the Reserve Bank www.regulations.gov. Follow the and an adjustment (all other). indicated or the offices of the Board of instructions for submitting comments. Governors not later than April 8, 2016. • Email: regs.comments@ IV. What is the next step in the process A. Federal Reserve Bank of Boston federalreserve.gov. Include OMB for this ICR? (Prabal Chakrabarti, Senior Vice asabaliauskas on DSK3SPTVN1PROD with NOTICES number in the subject line of the EPA will consider the comments President) 600 Atlantic Avenue, Boston, message. received and amend the ICR as Massachusetts 02210–2204. Comments • FAX: (202) 452–3819 or (202) 452– appropriate. The final ICR package will can also be sent electronically to 3102. then be submitted to OMB for review BOS.SRC.Applications.Comments@ • Mail: Robert deV. Frierson, and approval pursuant to 5 CFR bos.frb.org: Secretary, Board of Governors of the 1320.12. EPA will issue another Federal 1. Randolph Bancorp, Inc., Stoughton, Federal Reserve System, 20th Street and Register document pursuant to 5 CFR Massachusetts; to become a bank Constitution Avenue NW., Washington, 1320.5(a)(1)(iv) to announce the holding company by acquiring 100 DC 20551. VerDate Sep<11>2014 17:40 Mar 14, 2016 Jkt 238001 PO 00000 Frm 00021 Fmt 4703 Sfmt 4703 E:\FR\FM\15MRN1.SGM 15MRN1

13792 Federal Register / Vol. 81, No. 50 / Tuesday, March 15, 2016 / Notices All public comments are available including the validity of the financial condition, [and] systems for from the Board’s Web site at http:// methodology and assumptions used; monitoring and controlling financial www.federalreserve.gov/apps/foia/ c. Ways to enhance the quality, and operating risk. proposedregs.aspx as submitted, unless utility, and clarity of the information to • Section 7(c)(2) of the International modified for technical reasons. be collected; Banking Act of 1978 (12 U.S.C. Accordingly, your comments will not be d. Ways to minimize the burden of 3105(c)(2) requires branches and edited to remove any identifying or information collection on respondents, agencies of foreign banking contact information. Public comments including through the use of automated organizations to file reports of condition may also be viewed electronically or in collection techniques or other forms of with the Federal Reserve to the same paper form in Room 3515, 1801 K Street information technology; and extent and in the same manner as if the (between 18th and 19th Streets NW.) e. Estimates of capital or startup costs branch or agency were a state member Washington, DC 20006 between 9:00 and costs of operation, maintenance, bank. a.m. and 5:00 p.m. on weekdays. and purchase of services to provide • Section 25A of the Federal Reserve Additionally, commenters may send a information. Act (12 U.S.C. 625) requires Edge and copy of their comments to the OMB agreement corporations to make reports Proposal To Approve Under OMB to the Board at such time and in such Desk Officer—Shagufta Ahmed—Office Delegated Authority the Extension for of Information and Regulatory Affairs, form as it may require. Three Years, Without Revision, of the • Section 10(b) of the Home Owners’ Office of Management and Budget, New Following Reports Executive Office Building, Room 10235, Loan Act requires an SLHC to file 725 17th Street NW., Washington, DC 1. Report title: Funding and Liquidity reports on the operation of the SLHC 20503 or by fax to (202) 395–6974. Risk Management Guidance. and any subsidiary as the Board may Agency form number: FR 4198. require and in such form and for such FOR FURTHER INFORMATION CONTACT: A OMB control number: 7100–0326. periods as the Board may require. copy of the PRA OMB submission, Frequency: On occasion and monthly. Because the records required by the including the proposed reporting form Reporters: Bank holding companies, Guidance are maintained at the and instructions, supporting statement, savings and loan holding companies, institution, issues of confidentiality are and other documentation will be placed state member banks, state-licensed not expected to arise. Should the into OMB’s public docket files, once branches and agencies of foreign banks documents be obtained by the Federal approved. These documents will also be (other than insured branches), and Reserve System during the course of an made available on the Federal Reserve corporations organized or operating examination, they would be exempt Board’s public Web site at: http:// under sections 25 or 25A of the Federal from disclosure under exemption 8 of www.federalreserve.gov/apps/ Reserve Act (agreement corporations FOIA, 5 U.S.C. 552(b)(8). In addition, reportforms/review.aspx or may be and Edge corporations). some or all of the information may be requested from the agency clearance Estimated annual burden hours: ‘‘commercial or financial’’ information officer, whose name appears below. Section 14 strategic planning and protected from disclosure under Federal Reserve Board Clearance budgeting process: Large institutions: exemption 4 of FOIA, under the Officer—Nuha Elmaghrabi—Office of 20,160 hours; mid-sized institutions: standards set forth in National Parks & the Chief Data Officer, Board of 17,520 hours; small institutions: Conservation Ass’n v. Morton, 498 F.2d Governors of the Federal Reserve 428,080 hours. Section 20 liquidity risk 765 (D.C. Cir. 1974). System, Washington, DC 20551 (202) reporters: 261,696 hours. Abstract: On March 22, 2010, the 452–3829. Telecommunications Device Estimated average hours per response: Office of the Comptroller of the for the Deaf (TDD) users may contact Section 14 strategic planning and Currency (OCC), the Office of Thrift (202) 263–4869, Board of Governors of budgeting process: Large institutions: Supervision (OTS), the Federal Reserve, the Federal Reserve System, 720 hours; mid-sized institutions: 240 and the Federal Deposit Insurance Washington, DC 20551. hours; small institutions: 80 hours. Corporation (FDIC), and the National SUPPLEMENTARY INFORMATION: Section 20 liquidity risk reporters: 4 Credit Union Administration (NCUA) hours. (the agencies) published a joint final Request for Comment on Information Number of respondents: Section 14 notice in the Federal Register Collection Proposal strategic planning and budgeting implementing guidance titled The following information collection, process: Large institutions: 28; mid- ‘‘Interagency Policy Statement on which is being handled under this sized institutions: 73; small institutions: Funding and Liquidity Risk delegated authority, has received initial 5,351. Section 20 liquidity risk Management’’ (the ‘‘Guidance’’), Board approval and is hereby published reporters: 5,452. effective May 21, 2010.1 for comment. At the end of the comment General description of report: The The Guidance summarizes the period, the proposed information Board’s Legal Division has determined principles of sound liquidity risk collection, along with an analysis of that this information collection is management that the agencies have comments and recommendations mandatory based on the following issued in the past and, where received, will be submitted to the Board relevant statutory provisions. appropriate, brings them into for final approval under OMB delegated • Section 9(6) of the Federal Reserve conformance with the ‘‘Principles for authority. Comments are invited on the Act (12 U.S.C. 324) requires state Sound Liquidity Risk Management and following: member banks to make reports of Supervision’’ issued by the Basel asabaliauskas on DSK3SPTVN1PROD with NOTICES a. Whether the proposed collection of condition to their supervising Reserve Committee on Banking Supervision information is necessary for the proper Bank in such form and containing such (BCBS) in September 2008. While the performance of the Federal Reserve’s information as the Board may require. BCBS liquidity principles primarily functions, including whether the • Section 5(c) of the Bank Holding focuses on large internationally active information has practical utility; Company Act (12 U.S.C. 1844(c)) financial institutions, the Guidance b. The accuracy of the Federal authorizes the Board to require a BHC emphasizes supervisory expectations for Reserve’s estimate of the burden of the and any subsidiary to submit reports to proposed information collection, keep the Board informed as to its 1 75 FR 13656 (March 22, 2010). VerDate Sep<11>2014 17:40 Mar 14, 2016 Jkt 238001 PO 00000 Frm 00022 Fmt 4703 Sfmt 4703 E:\FR\FM\15MRN1.SGM 15MRN1

Federal Register / Vol. 81, No. 50 / Tuesday, March 15, 2016 / Notices 13793 all domestic financial institutions 1467a(b)(3), authorizes the Board to procedures for leveraged credits; (b) including banks, thrifts and credit ‘‘maintain such books and records as have risk management policies, unions. may be prescribed by the Board.’’ including stress testing procedures for The agencies 2 have identified two • Regarding branches and agencies of pipeline exposures; and (c) have sections of the Guidance that fall under foreign banking organizations, Section policies and procedures for the definition of an information 7(c)(2) of the International Banking Act incorporating the results of leveraged collection. Section 14 states that of 1978, 12 U.S.C. 3105(c)(2), subjects credit and pipeline stress tests into the institutions should consider liquidity such entities to the requirements of firm’s overall stress testing framework. costs, benefits, and risks in strategic section 11(a) of the Federal Reserve Act planning and budgeting processes. (12 U.S.C. 248(a)) ‘‘to the same extent Although the guidance is applicable Section 20 requires that liquidity risk and in the same manner as if the branch to all institutions that originate or reports provide aggregate information or agency were a state member bank.’’ participate in leverage lending, due to with sufficient supporting detail to • Under Section 25 of the Federal the large exposures created by these enable management to assess the Reserve Act, 12 U.S.C. 602, member types of loans, these credits are most sensitivity of the institution to changes banks are required to furnish to the likely originated primarily by larger in market conditions, its own financial Board ‘‘information concerning the institutions. performance, and other important risk condition of’’ Edge and Agreement Current Actions: The Federal Reserve factors. Corporations in which they invest. More proposes to extend, without revision, Current Actions: The Federal Reserve generally with respect to Edge and Agreement Corporations, under Section the FR 4203 information collection. proposes to extend, without revision, the FR 4198 information collection. 25A of the Federal Reserve Act, 12 Board of Governors of the Federal Reserve 2. Report title: Recordkeeping U.S.C. 611a, the Federal Reserve may System, March 10, 2016. Provisions Associated with Guidance on ‘‘issue rules and regulations’’ governing Robert deV. Frierson, Leveraged Lending. such entities ‘‘consistent with and in Secretary of the Board. Agency form number: FR 4203. furtherance of the purposes’’ of that [FR Doc. 2016–05808 Filed 3–14–16; 8:45 am] OMB control number: 7100–0354. subchapter. Because the information collection is BILLING CODE 6210–01–P Frequency: On occasion. Reporters: All institutions that called for in guidance and not in a originate or participate in leverage statute or regulation, it is considered lending. voluntary. FEDERAL RESERVE SYSTEM Estimated annual burden hours: Because the information collected by 29,422 hours. the Proposed Guidance is maintained at Change in Bank Control Notices; Estimated average hours per response: the institutions, issues of confidentiality Acquisitions of Shares of a Bank or 754.4 hours. would not normally arise. Should the Bank Holding Company Number of respondents: 39. information be obtained by the Board in General description of report: The the course of an examination, it would The notificants listed below have Board’s Legal Division has determined be exempt from disclosure under applied under the Change in Bank that all financial institutions supervised exemption 8 of Freedom of Information Control Act (12 U.S.C. 1817(j)) and by the Board and substantively engaged Act (FOIA), 5 U.S.C. 552(b)(8). In § 225.41 of the Board’s Regulation Y (12 in leveraged lending activities are addition, some or all of the information CFR 225.41) to acquire shares of a bank subject to the FR 4203: may be confidential commercial or or bank holding company. The factors • Regarding state member banks, the financial information protected from that are considered in acting on the information collection is authorized by disclosure under exemption 4 of FOIA, notices are set forth in paragraph 7 of Section 11(a)(2) of the Federal Reserve under the standards set forth in the Act (12 U.S.C. 1817(j)(7)). Act, 12 U.S.C. 248(a)(2), which National Parks & Conservation Ass’n v. The notices are available for authorizes the Board to require any Morton, 498 F.2d 765 (D.C. Cir. 1974). depository institution to make such immediate inspection at the Federal Abstract: The interagency guidance reports of its assets and liabilities as the Reserve Bank indicated. The notices outlines high-level principles related to Board may determine to be necessary or also will be available for inspection at safe and sound leveraged lending desirable to enable the Board to activities, including underwriting the offices of the Board of Governors. discharge its responsibilities to monitor considerations, assessing and Interested persons may express their and control monetary and credit documenting enterprise value, risk views in writing to the Reserve Bank aggregates. management expectations for credits indicated for that notice or to the offices • With respect to bank holding awaiting distribution, stress testing of the Board of Governors. Comments companies, Section 5(c) of the Bank expectations and portfolio management, must be received not later than March Holding Company Act, 12 U.S.C. and risk management expectations. This 30, 2016. 1844(c), authorizes the Board to require guidance applies to all financial A. Federal Reserve Bank of Dallas a bank holding company and any institutions substantively engaged in (Robert L. Triplett III, Senior Vice subsidiary ‘‘to keep the Board informed leveraged lending activities supervised President) 2200 North Pearl Street, as to—(i) its financial condition, [and] by the Federal Reserve, FDIC, and OCC Dallas, Texas 75201–2272: systems for monitoring and controlling (the Agencies). asabaliauskas on DSK3SPTVN1PROD with NOTICES financial and operating risks. . . .’’ The Agencies identified certain 1. Elizabeth Ann McDonald, Austin, • With respect to savings and loan aspects of the proposed guidance that Texas, and Wade Compton McDonald, holding companies, 12 U.S.C. may constitute a collection of Plano, Texas, to join the Compton/ information. In particular, these aspects McDonald Family Group, a group acting 2 As part of the Dodd-Frank Wall Street Reform are the provisions that state a banking in concert, to retain voting shares of and Consumer Protection Act, the OTS was Menard Bancshares, Inc., and thereby abolished and its functions and powers were organization should (a) have transferred to the OCC, the FDIC, and the Federal underwriting policies for leveraged indirectly retain voting shares of Reserve. lending, including stress testing Menard Bank, both in Menard, Texas. VerDate Sep<11>2014 17:40 Mar 14, 2016 Jkt 238001 PO 00000 Frm 00023 Fmt 4703 Sfmt 4703 E:\FR\FM\15MRN1.SGM 15MRN1


Document Created: 2016-03-15 04:06:42
Document Modified: 2016-03-15 04:06:42
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionThe Federal Reserve proposes to extend, without revision, the FR 4198 information collection.
DatesComments must be submitted on or before May 16, 2016.
ContactA 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 Citation81 FR 13791 
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR