81 FR 33672 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
FEDERAL RESERVE SYSTEM Federal Register Volume 81, Issue 103 (May 27, 2016)
Federal Register Volume 81, Issue 103 (May 27, 2016)
| Page Range | 33672-33674 | |
| FR Document | 2016-12604 |
[Federal Register Volume 81, Number 103 (Friday, May 27, 2016)] [Notices] [Pages 33672-33674] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-12604] ----------------------------------------------------------------------- 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 Reports 1. Report title: Written Security Program for State Member Banks. Agency form number: FR 4198. OMB control number: 7100-0326. Frequency: On occasion. Reporters: Bank holding companies, savings and loan holding companies, state member banks, state-licensed branches and agencies of foreign banks [[Page 33673]] (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 reporting 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 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: On March 15, 2016, the Board published a notice in the Federal Register (81 FR 13791) requesting public comment for 60 days on the proposal to extend the FR 4198 for three years without revision. The comment period for the notice expired on May 16, 2016. The Federal Reserve did not receive any comments, and the information collection will be extended as proposed. 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 reporting 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 [[Page 33674]] 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: On March 15, 2016, the Board published a notice in the Federal Register (81 FR 13791) requesting public comment for 60 days on the proposal to extend the FR 4203 for three years without revision. The comment period for the notice expired on May 16, 2016. The Federal Reserve did not receive any comments, and the information collection will be extended as proposed. 3. Report 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 reporting 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: On March 17, 2016, the Board published a notice in the Federal Register (81 FR 14444) requesting public comment for 60 days on the proposal to extend the FR 4203 for three years without revision. The comment period for the notice expired on May 16, 2016. The Federal Reserve did not receive any comments, and the information collection will be extended as proposed. Board of Governors of the Federal Reserve System, May 24, 2016. Robert deV. Frierson, Secretary of the Board. [FR Doc. 2016-12604 Filed 5-26-16; 8:45 am] BILLING CODE 6210-01-P
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Total Annual Cost: No Cost. FEDERAL RESERVE SYSTEM Board of Governors of the Federal Reserve
Privacy Act Impact Assessment: No System, May 24, 2016.
impact(s). Formations of, Acquisitions by, and Michele Taylor Fennell,
Nature and Extent of Confidentiality: Mergers of Bank Holding Companies Assistant Secretary of the Board.
We note that USAC must preserve the [FR Doc. 2016–12580 Filed 5–26–16; 8:45 am]
confidentiality of all data obtained from The companies listed in this notice BILLING CODE 6210–01–P
respondents; must not use the data have applied to the Board for approval,
except for purposes of administering the pursuant to the Bank Holding Company
universal service programs; and must Act of 1956 (12 U.S.C. 1841 et seq.) FEDERAL RESERVE SYSTEM
not disclose data in company-specific (BHC Act), Regulation Y (12 CFR part
form unless directed to do so by the 225), and all other applicable statutes Agency Information Collection
Commission. and regulations to become a bank Activities: Announcement of Board
Needs and Uses: The Commission is Approval Under Delegated Authority
holding company and/or to acquire the
requesting approval for this new and Submission to OMB
assets or the ownership of, control of, or
collection. In March 2016, the
the power to vote shares of a bank or AGENCY: Board of Governors of the
Commission adopted an order reforming
its universal service support program in bank holding company and all of the Federal Reserve System.
areas served by rate-of-return carriers. banks and nonbanking companies SUMMARY: Notice is hereby given of the
Connect America Fund; ETC Annual owned by the bank holding company, final approval of a proposed information
Reports and Certifications; Establishing including the companies listed below. collection by the Board of Governors of
Just and Reasonable Rates for Local The applications listed below, as well the Federal Reserve System (Board)
Exchange Carriers; Developing a Unified as other related filings required by the under OMB delegated authority. Board-
Intercarrier Compensation Regime, WC Board, are available for immediate approved collections of information are
Docket Nos. 10–90, 14–58, 07–135, 05– inspection at the Federal Reserve Bank incorporated into the official OMB
337, 03–109; CC Docket Nos. 01–92, 96– indicated. The applications will also be inventory of currently approved
45, Report and Order, Order and Order collections of information. Copies of the
available for inspection at the offices of
on Reconsideration, and Further Notice Paperwork Reduction Act Submission,
the Board of Governors. Interested
of Proposed Rulemaking, FCC 16–33 supporting statements and approved
persons may express their views in
(Rate-of-Return Order). collection of information instrument(s)
writing on the standards enumerated in are placed into OMB’s public docket
The Commission adopted a voluntary
the BHC Act (12 U.S.C. 1842(c)). If the files. The Federal Reserve may not
path for rate-of-return carriers to receive
proposal also involves the acquisition of conduct or sponsor, and the respondent
model-based universal service support
a nonbanking company, the review also is not required to respond to, an
in exchange for making a commitment
to deploy broadband-capable networks includes whether the acquisition of the information collection that has been
meeting certain service obligation to a nonbanking company complies with the extended, revised, or implemented on or
pre-determined number of eligible standards in section 4 of the BHC Act after October 1, 1995, unless it displays
locations by state. The Commission (12 U.S.C. 1843). Unless otherwise a currently valid OMB control number.
addressed the requirement that carriers noted, nonbanking activities will be FOR FURTHER INFORMATION CONTACT:
electing model-based support must conducted throughout the United States. Federal Reserve Board Clearance
notify the Commission of that election Unless otherwise noted, comments Officer—Nuha Elmaghrabi—Office of
and their commitment to satisfy the regarding each of these applications the Chief Data Officer, Board of
specific service obligations associated must be received at the Reserve Bank Governors of the Federal Reserve
with the amount of model support. In indicated or the offices of the Board of System, Washington, DC 20551, (202)
addition, the Commission adopted Governors not later than June 24, 2016. 452–3829. Telecommunications Device
reforms to the universal service for the Deaf (TDD) users may contact
mechanisms used to determine support A. Federal Reserve Bank of Atlanta (202) 263–4869, Board of Governors of
for rate-of-return carriers not electing (Chapelle Davis, Assistant Vice the Federal Reserve System,
model-based support. Among other such President), 1000 Peachtree Street NE., Washington, DC 20551.
reforms, the Commission adopted an Atlanta, Georgia 30309. Comments can OMB Desk Officer—Shagufta
operating expense limitation to improve also be sent electronically to Ahmed—Office of Information and
carriers’ incentives to be prudent and Applications.Comments@atl.frb.org: Regulatory Affairs, Office of
efficient in their expenditures, a capital 1. Progressive Financial Group, Inc., Management and Budget, New
investment allowance to better target Jamestown, Tennessee; to become a Executive Office Building, Room 10235,
support to those areas with less bank holding company by acquiring 100 725 17th Street NW., Washington, DC
broadband deployment, and broadband percent of the voting shares of 20503.
deployment obligations to promote Progressive Savings Bank, Jamestown, Final Approval Under OMB Delegated
‘‘accountability from companies Tennessee. Authority of The Extension For Three
receiving support to ensure that public Years, Without Revision, of the
investment are used wisely to deliver 2. Progressive Financial Group, Inc.,
Jamestown, Tennessee, to acquire up to Following Reports
intended results.’’ This information
collection addresses the new burdens 23.3 percent of the voting shares of 1. Report title: Written Security
sradovich on DSK3TPTVN1PROD with NOTICES
associated with those reforms. Upper Cumberland Bancshares, Inc., Program for State Member Banks.
Byrdstown, Tennessee, and thereby Agency form number: FR 4198.
Federal Communications Commission. OMB control number: 7100–0326.
indirectly acquire People’s Bank and
Gloria J. Miles, Frequency: On occasion.
Trust Company of Pickett County,
Federal Register Liaison Officer, Office of the Reporters: Bank holding companies,
Secretary.
Byrdstown, Tennessee, and Peoples
Bank & Trust Company of Clinton, savings and loan holding companies,
[FR Doc. 2016–12611 Filed 5–26–16; 8:45 am] state member banks, state-licensed
Albany, Kentucky.
BILLING CODE 6712–01–P branches and agencies of foreign banks
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![Federal Register / Vol. 81, No. 103 / Friday, May 27, 2016 / Notices 33673
(other than insured branches), and Reserve System during the course of an comment period for the notice expired
corporations organized or operating examination, they would be exempt on May 16, 2016. The Federal Reserve
under sections 25 or 25A of the Federal from disclosure under exemption 8 of did not receive any comments, and the
Reserve Act (agreement corporations FOIA, 5 U.S.C. 552(b)(8). In addition, information collection will be extended
and Edge corporations). some or all of the information may be as proposed.
Estimated annual reporting hours: ‘‘commercial or financial’’ information 2. Report title: Recordkeeping
Section 14 strategic planning and protected from disclosure under Provisions Associated with Guidance on
budgeting process: Large institutions: exemption 4 of FOIA, under the Leveraged Lending.
20,160 hours; mid-sized institutions: standards set forth in National Parks & Agency form number: FR 4203.
17,520 hours; small institutions: Conservation Ass’n v. Morton, 498 F.2d OMB control number: 7100–0354.
428,080 hours. Section 20 liquidity risk 765 (D.C. Cir. 1974). Frequency: On occasion.
reporters: 261,696 hours. Abstract: On March 22, 2010, the Reporters: All institutions that
Estimated average hours per response: Office of the Comptroller of the originate or participate in leverage
Section 14 strategic planning and Currency (OCC), the Office of Thrift lending.
budgeting process: Large institutions: Supervision (OTS), the Federal Reserve, Estimated annual reporting hours:
720 hours; mid-sized institutions: 240 and the Federal Deposit Insurance 29,422 hours.
hours; small institutions: 80 hours. Corporation (FDIC), and the National Estimated average hours per response:
Section 20 liquidity risk reporters: 4 Credit Union Administration (NCUA) 754.4 hours.
hours. (the agencies) published a joint final Number of respondents: 39.
Number of respondents: Section 14 notice in the Federal Register General description of report: The
strategic planning and budgeting implementing guidance titled Board’s Legal Division has determined
process: Large institutions: 28; mid- ‘‘Interagency Policy Statement on that all financial institutions supervised
sized institutions: 73; small institutions: Funding and Liquidity Risk by the Board and substantively engaged
5,351. Section 20 liquidity risk Management’’ (the ‘‘Guidance’’), in leveraged lending activities are
reporters: 5,452. effective May 21, 2010.1 subject to the FR 4203:
General description of report: The The Guidance summarizes the • Regarding state member banks, the
Board’s Legal Division has determined principles of sound liquidity risk information collection is authorized by
that this information collection is management that the agencies have Section 11(a)(2) of the Federal Reserve
mandatory based on the following issued in the past and, where Act, 12 U.S.C. 248(a)(2), which
relevant statutory provisions. appropriate, brings them into authorizes the Board to require any
• Section 9(6) of the Federal Reserve conformance with the ‘‘Principles for depository institution to make such
Act (12 U.S.C. 324) requires state Sound Liquidity Risk Management and reports of its assets and liabilities as the
member banks to make reports of Supervision’’ issued by the Basel Board may determine to be necessary or
condition to their supervising Reserve Committee on Banking Supervision desirable to enable the Board to
Bank in such form and containing such (BCBS) in September 2008. While the discharge its responsibilities to monitor
information as the Board may require. BCBS liquidity principles primarily and control monetary and credit
• Section 5(c) of the Bank Holding focuses on large internationally active aggregates.
Company Act (12 U.S.C. 1844(c)) financial institutions, the Guidance • With respect to bank holding
authorizes the Board to require a BHC emphasizes supervisory expectations for companies, Section 5(c) of the Bank
and any subsidiary to submit reports to all domestic financial institutions Holding Company Act, 12 U.S.C.
keep the Board informed as to its including banks, thrifts and credit 1844(c), authorizes the Board to require
financial condition, [and] systems for unions. a bank holding company and any
monitoring and controlling financial The agencies 2 have identified two subsidiary ‘‘to keep the Board informed
and operating risk. sections of the Guidance that fall under as to—(i) its financial condition, [and]
• Section 7(c)(2) of the International the definition of an information systems for monitoring and controlling
Banking Act of 1978 (12 U.S.C. collection. Section 14 states that financial and operating risks . . . .’’
3105(c)(2) requires branches and institutions should consider liquidity • With respect to savings and loan
agencies of foreign banking costs, benefits, and risks in strategic holding companies, 12 U.S.C.
organizations to file reports of condition planning and budgeting processes. 1467a(b)(3), authorizes the Board to
with the Federal Reserve to the same Section 20 requires that liquidity risk ‘‘maintain such books and records as
extent and in the same manner as if the reports provide aggregate information may be prescribed by the Board.’’
branch or agency were a state member with sufficient supporting detail to • Regarding branches and agencies of
bank. enable management to assess the foreign banking organizations, Section
• Section 25A of the Federal Reserve sensitivity of the institution to changes 7(c)(2) of the International Banking Act
Act (12 U.S.C. 625) requires Edge and in market conditions, its own financial of 1978, 12 U.S.C. 3105(c)(2), subjects
agreement corporations to make reports performance, and other important risk such entities to the requirements of
to the Board at such time and in such factors. section 11(a) of the Federal Reserve Act
form as it may require. Current Actions: On March 15, 2016, (12 U.S.C. 248(a)) ‘‘to the same extent
• Section 10(b) of the Home Owners’ the Board published a notice in the and in the same manner as if the branch
Loan Act requires an SLHC to file Federal Register (81 FR 13791) or agency were a state member bank.’’
reports on the operation of the SLHC requesting public comment for 60 days • Under Section 25 of the Federal
and any subsidiary as the Board may on the proposal to extend the FR 4198 Reserve Act, 12 U.S.C. 602, member
sradovich on DSK3TPTVN1PROD with NOTICES
require and in such form and for such for three years without revision. The banks are required to furnish to the
periods as the Board may require. Board ‘‘information concerning the
Because the records required by the 1 75 FR 13656 (March 22, 2010). condition of’’ Edge and Agreement
2 As part of the Dodd-Frank Wall Street Reform
Guidance are maintained at the Corporations in which they invest. More
and Consumer Protection Act, the OTS was
institution, issues of confidentiality are abolished and its functions and powers were
generally with respect to Edge and
not expected to arise. Should the transferred to the OCC, the FDIC, and the Federal Agreement Corporations, under Section
documents be obtained by the Federal Reserve. 25A of the Federal Reserve Act, 12
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![33674 Federal Register / Vol. 81, No. 103 / Friday, May 27, 2016 / Notices
U.S.C. 611a, the Federal Reserve may comment period for the notice expired DEPARTMENT OF DEFENSE
‘‘issue rules and regulations’’ governing on May 16, 2016. The Federal Reserve
such entities ‘‘consistent with and in did not receive any comments, and the GENERAL SERVICES
furtherance of the purposes’’ of that information collection will be extended ADMINISTRATION
subchapter. as proposed.
Because the information collection is 3. Report title: Reporting, NATIONAL AERONAUTICS AND
called for in guidance and not in a Recordkeeping, and Disclosure SPACE ADMINISTRATION
statute or regulation, it is considered Requirements Associated with
[OMB Control No. 9000–0173; Docket 2016–
voluntary. Regulation NN. 0053; Sequence 28]
Because the information collected by Agency form number: Reg NN.
the Proposed Guidance is maintained at OMB control number: 7100–0353. Information Collection; Limitations on
the institutions, issues of confidentiality Frequency: On occasion.
Pass-Through Charges
would not normally arise. Should the Reporters: Banking organizations
information be obtained by the Board in seeking to engage in off-exchange AGENCY: Department of Defense (DOD),
the course of an examination, it would transactions in foreign currency with General Services Administration (GSA),
be exempt from disclosure under retail customers. and National Aeronautics and Space
exemption 8 of Freedom of Information Estimated annual reporting hours: Administration (NASA).
Act (FOIA), 5 U.S.C. 552(b)(8). In 1,972 hours.
ACTION: Notice of request for public
addition, some or all of the information Estimated average hours per response:
Reporting, 16 hours; Recordkeeping, 183 comments regarding an extension to an
may be confidential commercial or existing OMB clearance.
financial information protected from hours; Disclosure, 787 hours.
disclosure under exemption 4 of FOIA, Number of respondents: 2. SUMMARY: Under the provisions of the
General description of report: This
under the standards set forth in Paperwork Reduction Act, the
information collection is required by the
National Parks & Conservation Ass’n v. Regulatory Secretariat Division will be
Commodity Exchange Act (7 U.S.C.
Morton, 498 F.2d 765 (D.C. Cir. 1974). submitting to the Office of Management
Abstract: The interagency guidance Section 2(c)(2)(E)), the Federal Reserve
and Budget (OMB) a request to review
outlines high-level principles related to Act (12 U.S.C. Sections 248 and 321–
and approve a previously approved
safe and sound leveraged lending 338), the Federal Deposit Insurance Act
information collection requirement
activities, including underwriting (12 U.S.C. Section 1818), the
regarding Limitations on Pass-Through
considerations, assessing and International Banking Act (12 U.S.C.
Charges.
documenting enterprise value, risk Section 3108), and Regulation NN (12
CFR part 240). The information DATES: Submit comments on or before
management expectations for credits
collection is mandatory. The reported July 26, 2016.
awaiting distribution, stress testing
expectations and portfolio management, data are regarded as confidential under ADDRESSES: Submit comments
and risk management expectations. This the Freedom of Information Act (5 identified by Information Collection
guidance applies to all financial U.S.C. Section 552(b)(4)). 9000–0173, Limitations on Pass-
Abstract: The reporting requirements Through Charges by any of the
institutions substantively engaged in
associated with Regulation NN are following methods:
leveraged lending activities supervised
found in section 240.4; the • Regulations.gov: http://
by the Federal Reserve, FDIC, and OCC
recordkeeping requirements are found www.regulations.gov. Submit comments
(the Agencies).
in sections 240.7, 240.9, and 240.13(a); via the Federal eRulemaking portal by
The Agencies identified certain
and the disclosure requirements are searching the OMB control number.
aspects of the proposed guidance that
found in sections 240.5, 240.6, 240.10, Select the link ‘‘Submit a Comment’’
may constitute a collection of
240.13b–d, 240.15, and 240.16. These that corresponds with ‘‘Information
information. In particular, these aspects
requirements permit banking Collection 9000–0173, Limitations on
are the provisions that state a banking
organizations under the Federal Pass-Through Charges’’. Follow the
organization should (a) have
Reserve’s supervision to engage in off- instructions provided at the ‘‘Submit a
underwriting policies for leveraged
exchange transactions in foreign Comment’’ screen. Please include your
lending, including stress testing
currency with retail customers and to name, company name (if any), and
procedures for leveraged credits; (b) describe various requirements with
have risk management policies, ‘‘Information Collection 9000–0173,
which banking organizations must Limitations on Pass-Through Charges’’
including stress testing procedures for comply to conduct such transactions.
pipeline exposures; and (c) have on your attached document.
Current Actions: On March 17, 2016,
policies and procedures for • Mail: General Services
the Board published a notice in the
incorporating the results of leveraged Administration, Regulatory Secretariat
Federal Register (81 FR 14444)
credit and pipeline stress tests into the Division (MVCB), 1800 F Street NW.,
requesting public comment for 60 days
firm’s overall stress testing framework. Washington, DC 20405. ATTN: Ms.
on the proposal to extend the FR 4203
Although the guidance is applicable Flowers/IC 9000–0173, Limitations on
for three years without revision. The
to all institutions that originate or Pass-Through Charges.
comment period for the notice expired
participate in leverage lending, due to Instructions: Please submit comments
on May 16, 2016. The Federal Reserve
the large exposures created by these only and cite Information Collection
did not receive any comments, and the
types of loans, these credits are most 9000–0173, Limitations on Pass-
information collection will be extended
likely originated primarily by larger Through Charges, in all correspondence
sradovich on DSK3TPTVN1PROD with NOTICES
as proposed.
institutions. related to this collection. Comments
Current Actions: On March 15, 2016, Board of Governors of the Federal Reserve received generally will be posted
the Board published a notice in the System, May 24, 2016. without change to http://
Federal Register (81 FR 13791) Robert deV. Frierson, www.regulations.gov, including any
requesting public comment for 60 days Secretary of the Board. personal and/or business confidential
on the proposal to extend the FR 4203 [FR Doc. 2016–12604 Filed 5–26–16; 8:45 am] information provided. To confirm
for three years without revision. The BILLING CODE 6210–01–P receipt of your comment(s), please
VerDate Sep<11>2014 18:00 May 26, 2016 Jkt 238001 PO 00000 Frm 00021 Fmt 4703 Sfmt 4703 E:\FR\FM\27MYN1.SGM 27MYN1](https://thefederalregister.org/doc/81_FR_33775/page/3.svg)
Document Created: 2018-02-07 15:09:33
Document Modified: 2018-02-07 15:09:33
| 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 | |
| Action | On March 15, 2016, the Board published a notice in the Federal Register (81 FR 13791) requesting public comment for 60 days on the proposal to extend the FR 4198 for three years without revision. The comment period for the notice expired on May 16, 2016. The Federal Reserve did not receive any comments, and the information collection will be extended as proposed. | |
| 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. | |
| FR Citation | 81 FR 33672 |
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