81 FR 93934 - Proposed Collections; Comment Requests

FINANCIAL STABILITY OVERSIGHT COUNCIL

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

Page Range		93934-93934
FR Document		2016-30846

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 Issue 246 (Thursday, December 22, 2016)

[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

93934 Federal Register / Vol. 81, No. 246 / Thursday, December 22, 2016 / Notices

FINANCIAL STABILITY OVERSIGHT Pennsylvania Avenue NW., Washington, opposition to, designation or rescission
COUNCIL DC 20220. of designation. The collection of
Public inspection of comments. All information under 12 CFR 1320.12
Proposed Collections; Comment properly submitted comments will be affords FMUs an opportunity to contest
Requests available for inspection and a proposed determination of the Council
downloading at http:// by requesting a hearing and submitting
Notice and request for
ACTION:
www.regulations.gov.
comments. written materials (or, at the sole
Additional instructions. In general, discretion of the Council, oral testimony
SUMMARY: The Financial Stability comments received, including and oral argument). The collection of
Oversight Council (the ‘‘Council’’) attachments and other supporting information in 12 CFR 1320.14 affords
invites members of the public and materials, are part of the public record FMUs an opportunity to contest the
affected agencies to comment on and are available to the public. Do not Council’s waiver or modification of the
proposed and/or continuing information submit any information in your
notice, hearing, or other requirements
collections, as required by the comment or supporting materials that
contained in 12 CFR 1320.11 and
Paperwork Reduction Act of 1995. The you consider confidential or
inappropriate for public disclosure. 1320.12 by requesting a hearing and
Council is soliciting comments
submitting written materials (or, at the
concerning its collection of information SUPPLEMENTARY INFORMATION:
sole discretion of the Council, oral
related to its authority to designate Title: Designation of Financial Market
financial market utilities as systemically testimony and oral argument). The
Utilities.
important. Section 804 of the Dodd- information collected from FMUs under
OMB Control Number: 1505–0239.
Frank Wall Street Reform and Consumer Abstract: On July 27, 2011, the 12 CFR 1320.20 will be used by the
Protection (the ‘‘Dodd-Frank Act’’) Council published in the Federal Council to determine whether to
provides the Council the authority to Register a final rule (12 CFR part 1320) designate an additional FMU or to
designate a financial market utility that describes the criteria that will rescind the designation of a designated
(‘‘FMU’’) that the Council determines is inform and the processes and FMU.
or is likely to become systemically procedures established under the Dodd- Type of Review: Extension of a
important because the failure of or a Frank Act for the Council’s designation currently approved collection.
disruption to the functioning of the of FMUs as systemically important
FMU could create, or increase, the risk Affected Public: Businesses or other
under the Dodd-Frank Act. On July 18, for-profit and not-for-profit
of significant liquidity or credit 2012, the Council designated eight
problems spreading among financial organization.
FMUs as systemically important under
institutions or markets and thereby Title VIII of the Dodd-Frank Act. The Estimated Total Annual Burden
threaten the stability of the United collection of information under 12 CFR Hours for all Collections: 500 hours.
States financial system. 1320.11 affords FMUs that are under Request for Comments: Comments
DATES: Written comments on the rule consideration for designation, or submitted in response to this notice will
must be received on or before February rescission of designation, an be summarized and/or included in the
21, 2017. opportunity to submit written materials request for OMB approval. All
FOR FURTHER INFORMATION CONTACT: Eric to the Council in support of, or in comments will become a matter of
A. Froman, Executive Director, opposition to, designation or rescission public record. Comments are invited on:
Financial Stability Oversight Council, of designation. The collection of (a) Whether the collection of
U.S. Treasury Department, (202) 622– information under 12 CFR 1320.12
information is necessary for the proper
1942; Stephen Milligan, Attorney- affords FMUs an opportunity to contest
performance of the functions of the
Advisor, U.S. Treasury Department, a proposed determination of the Council
agency, including whether the
(202) 622–4051. by requesting a hearing and submitting
written materials (or, at the sole information has practical utility; (b) the
ADDRESSES: Interested persons are
discretion of the Council, oral testimony accuracy of the agency’s estimate of the
invited to submit comments regarding
and oral argument). The collection of burden of the collection of information;
this proposed collection according to
information in 12 CFR 1320.14 affords (c) ways to enhance the quality, utility,
the instructions below. All submissions
must refer to the document title. FMUs an opportunity to contest the and clarity of the information to be
Electronic submission of comments. Council’s waiver or modification of the collected; (d) ways to minimize the
Interested persons may submit notice, hearing, or other requirements burden of the collection of information
comments electronically through the contained in 12 CFR 1320.11 and on respondents, including through the
Federal eRulemaking Portal at http:// 1320.12 by requesting a hearing and use of automated collection techniques
www.regulations.gov. Electronic submitting written materials (or, at the or other forms of information
submission of comments allows the sole discretion of the Council, oral technology, and (e) estimates of capital
commenter maximum time to prepare testimony and oral argument). The or start-up costs and costs of operation,
and submit a comment, ensures timely information collected from FMUs under maintenance, and purchase of services
receipt, and enables the Council to make 12 CFR 1320.20 will be used by the to provide information.
them available to the public. Comments Council to determine whether to
Authority: Public Law 104–13 (44 U.S.C.
submitted electronically through the designate an additional FMU or to 3506(c)(2)(A))
rescind the designation of a designated
sradovich on DSK3GMQ082PROD with NOTICES

http://www.regulations.gov Web site can
be viewed by other commenters and FMU. Dated: December 14, 2016.
interested members of the public. The collection of information under Eric A. Froman,
Commenters should follow the 12 CFR 1320.11 affords FMUs that are Executive Director, Financial Stability
instructions provided on that site to under consideration for designation, or Oversight Council.
submit comments electronically. rescission of designation, an [FR Doc. 2016–30846 Filed 12–21–16; 8:45 am]
Mail. Send comments to Financial opportunity to submit written materials BILLING CODE 4810–25–P–P
Stability Oversight Council, 1500 to the Council in support of, or in

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Document Created: 2016-12-21 23:52:35
Document Modified: 2016-12-21 23:52:35

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		Notice and request for comments.
Dates		Written comments on the rule must be received on or before February 21, 2017.
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.
FR Citation		81 FR 93934