81 FR 14444 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 81, Issue 52 (March 17, 2016)

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, Number 52 (Thursday, March 17, 2016)]
[Notices]
[Pages 14444-14445]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-06040]


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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 May 16, 2016.

ADDRESSES: You may submit comments, identified by Reg NN 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.
    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 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:
    1. Collection title: Reporting, Recordkeeping, and Disclosure 
Requirements Associated with Regulation NN.
    Agency form number: Reg NN.
    OMB control number: 7100-0353.
    Frequency: On occasion.
    Reporters: Banking organizations seeking to engage in off-exchange 
transactions in foreign currency with retail customers.
    Estimated annual burden hours: 1,972 hours.
    Estimated average hours per response: Reporting, 16 hours; 
Recordkeeping, 183 hours; Disclosure, 787 hours.
    Number of respondents: 2.
    General description of report: This information collection is 
required by the Commodity Exchange Act (7 U.S.C. Section 2(c)(2)(E)), 
the Federal Reserve Act (12 U.S.C. Sections 248 and 321-338), the 
Federal Deposit Insurance Act (12 U.S.C. Section 1818), the 
International Banking Act (12 U.S.C. Section 3108), and Regulation NN 
(12 CFR part 240). The information collection is mandatory. The 
reported data are regarded as confidential under the Freedom of 
Information Act (5 U.S.C. Section 552(b)(4)).
    Abstract: The reporting requirements associated with Regulation NN 
are found in section 240.4; the recordkeeping requirements are found in 
sections 240.7, 240.9, and 240.13(a); and the disclosure requirements 
are found in sections 240.5, 240.6, 240.10, 240.13b-d, 240.15, and 
240.16. These requirements permit banking organizations under the 
Federal Reserve's supervision to engage in off-exchange transactions in 
foreign currency with retail customers and to describe various 
requirements with which banking organizations must comply to conduct 
such transactions.
    Current Actions: The Federal Reserve proposes to extend, without 
revision, the clearance for Reg NN.


[[Page 14445]]


    Board of Governors of the Federal Reserve System, March 14, 
2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-06040 Filed 3-16-16; 8:45 am]
 BILLING CODE 6210-01-P