81 FR 93934 - Proposed Collections; Comment Requests

FINANCIAL STABILITY OVERSIGHT COUNCIL

Federal Register Volume 81, Issue 246 (December 22, 2016)

The Financial Stability Oversight Council (the ``Council'') invites members of the public and affected agencies to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. The Council is soliciting comments concerning its collection of information related to its authority to designate financial market utilities as systemically important. Section 804 of the Dodd-Frank Wall Street Reform and Consumer Protection (the ``Dodd-Frank Act'') provides the Council the authority to designate a financial market utility (``FMU'') that the Council determines is or is likely to become systemically important because the failure of or a disruption to the functioning of the FMU could create, or increase, the risk of significant liquidity or credit problems spreading among financial institutions or markets and thereby threaten the stability of the United States financial system.

[Federal Register Volume 81, Number 246 (Thursday, December 22, 2016)]
[Notices]
[Page 93934]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-30846]



[[Page 93934]]

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FINANCIAL STABILITY OVERSIGHT COUNCIL


Proposed Collections; Comment Requests

ACTION: Notice and request for comments.

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SUMMARY: The Financial Stability Oversight Council (the ``Council'') 
invites members of the public and affected agencies to comment on 
proposed and/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995. The Council is soliciting comments 
concerning its collection of information related to its authority to 
designate financial market utilities as systemically important. Section 
804 of the Dodd-Frank Wall Street Reform and Consumer Protection (the 
``Dodd-Frank Act'') provides the Council the authority to designate a 
financial market utility (``FMU'') that the Council determines is or is 
likely to become systemically important because the failure of or a 
disruption to the functioning of the FMU could create, or increase, the 
risk of significant liquidity or credit problems spreading among 
financial institutions or markets and thereby threaten the stability of 
the United States financial system.

DATES: Written comments on the rule must be received on or before 
February 21, 2017.

FOR FURTHER INFORMATION CONTACT: Eric A. Froman, Executive Director, 
Financial Stability Oversight Council, U.S. Treasury Department, (202) 
622-1942; Stephen Milligan, Attorney-Advisor, U.S. Treasury Department, 
(202) 622-4051.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposed collection according to the instructions below. All 
submissions must refer to the document title.
    Electronic submission of comments. Interested persons may submit 
comments electronically through the Federal eRulemaking Portal at 
http://www.regulations.gov. Electronic submission of comments allows 
the commenter maximum time to prepare and submit a comment, ensures 
timely receipt, and enables the Council to make them available to the 
public. Comments submitted electronically through the http://www.regulations.gov Web site can be viewed by other commenters and 
interested members of the public. Commenters should follow the 
instructions provided on that site to submit comments electronically.
    Mail. Send comments to Financial Stability Oversight Council, 1500 
Pennsylvania Avenue NW., Washington, DC 20220.
    Public inspection of comments. All properly submitted comments will 
be available for inspection and downloading at http://www.regulations.gov.
    Additional instructions. In general, comments received, including 
attachments and other supporting materials, are part of the public 
record and are available to the public. Do not submit any information 
in your comment or supporting materials that you consider confidential 
or inappropriate for public disclosure.

SUPPLEMENTARY INFORMATION: 
    Title: Designation of Financial Market Utilities.
    OMB Control Number: 1505-0239.
    Abstract: On July 27, 2011, the Council published in the Federal 
Register a final rule (12 CFR part 1320) that describes the criteria 
that will inform and the processes and procedures established under the 
Dodd-Frank Act for the Council's designation of FMUs as systemically 
important under the Dodd-Frank Act. On July 18, 2012, the Council 
designated eight FMUs as systemically important under Title VIII of the 
Dodd-Frank Act. The collection of information under 12 CFR 1320.11 
affords FMUs that are under consideration for designation, or 
rescission of designation, an opportunity to submit written materials 
to the Council in support of, or in opposition to, designation or 
rescission of designation. The collection of information under 12 CFR 
1320.12 affords FMUs an opportunity to contest a proposed determination 
of the Council by requesting a hearing and submitting written materials 
(or, at the sole discretion of the Council, oral testimony and oral 
argument). The collection of information in 12 CFR 1320.14 affords FMUs 
an opportunity to contest the Council's waiver or modification of the 
notice, hearing, or other requirements contained in 12 CFR 1320.11 and 
1320.12 by requesting a hearing and submitting written materials (or, 
at the sole discretion of the Council, oral testimony and oral 
argument). The information collected from FMUs under 12 CFR 1320.20 
will be used by the Council to determine whether to designate an 
additional FMU or to rescind the designation of a designated FMU.
    The collection of information under 12 CFR 1320.11 affords FMUs 
that are under consideration for designation, or rescission of 
designation, an opportunity to submit written materials to the Council 
in support of, or in opposition to, designation or rescission of 
designation. The collection of information under 12 CFR 1320.12 affords 
FMUs an opportunity to contest a proposed determination of the Council 
by requesting a hearing and submitting written materials (or, at the 
sole discretion of the Council, oral testimony and oral argument). The 
collection of information in 12 CFR 1320.14 affords FMUs an opportunity 
to contest the Council's waiver or modification of the notice, hearing, 
or other requirements contained in 12 CFR 1320.11 and 1320.12 by 
requesting a hearing and submitting written materials (or, at the sole 
discretion of the Council, oral testimony and oral argument). The 
information collected from FMUs under 12 CFR 1320.20 will be used by 
the Council to determine whether to designate an additional FMU or to 
rescind the designation of a designated FMU.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit and not-for-profit 
organization.
    Estimated Total Annual Burden Hours for all Collections: 500 hours.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information has practical utility; (b) the accuracy of the agency's 
estimate of the burden of the collection of information; (c) ways to 
enhance the quality, utility, and clarity of the information to be 
collected; (d) ways to minimize the burden of the collection of 
information 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.

    Authority: Public Law 104-13 (44 U.S.C. 3506(c)(2)(A))

    Dated: December 14, 2016.
Eric A. Froman,
Executive Director, Financial Stability Oversight Council.
[FR Doc. 2016-30846 Filed 12-21-16; 8:45 am]
 BILLING CODE 4810-25-P-P