82 FR 43367 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 178 (September 15, 2017)

Page Range		43367-43368
FR Document		2017-19568

The Board of Governors of the Federal Reserve System (Board or Federal Reserve) has modified its proposal to extend for three years, with revision, the Consolidated Financial Statements for Holding Companies (FR Y-9C) (OMB No. 7100-0128), the Parent Company Only Financial Statements for Large Holding Companies (FR Y-9LP) (OMB No. 7100-0128), the Parent Company Only Financial Statements for Small Holding Companies (FR Y-9SP) (OMB No. 7100-0128), the Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking Organizations (FR Y-7N) (OMB No. 7100-0125), the Consolidated Report of Condition and Income for Edge and Agreement Corporations (FR 2886b) (OMB No. 7100-0086), the Financial Statements of U.S. Nonbank Subsidiaries of U.S. Holding Companies (FR Y-11) (OMB No. 7100-0244), and the Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations (FR 2314) (OMB No. 7100-0073). The Board has changed the implementation date for reporting the proposed revisions from September 30, 2017, to March 31, 2018.

Federal Register, Volume 82 Issue 178 (Friday, September 15, 2017)

[Federal Register Volume 82, Number 178 (Friday, September 15, 2017)]
[Notices]
[Pages 43367-43368]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-19568]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Revision to proposal.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board or 
Federal Reserve) has modified its proposal to extend for three years, 
with revision, the Consolidated Financial Statements for Holding 
Companies (FR Y-9C) (OMB No. 7100-0128), the Parent Company Only 
Financial Statements for Large Holding Companies (FR Y-9LP) (OMB No. 
7100-0128), the Parent Company Only Financial Statements for Small 
Holding Companies (FR Y-9SP) (OMB No. 7100-0128), the Financial 
Statements of U.S. Nonbank Subsidiaries Held by Foreign Banking 
Organizations (FR Y-7N) (OMB No. 7100-0125), the Consolidated Report of 
Condition and Income for Edge and Agreement Corporations (FR 2886b) 
(OMB No. 7100-0086), the Financial Statements of U.S. Nonbank 
Subsidiaries of U.S. Holding Companies (FR Y-11) (OMB No. 7100-0244), 
and the Financial Statements of Foreign Subsidiaries of U.S. Banking 
Organizations (FR 2314) (OMB No. 7100-0073). The Board has changed the 
implementation date for reporting the proposed revisions from September 
30, 2017, to March 31, 2018.

DATES: The proposed collection of information is amended effective 
September 11, 2017, however the public comment period shall terminate 
on September 18, 2017.

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: On July 18, 2017, the Federal Reserve 
requested comment on two proposals. The first proposed to (1) extend 
for three years the FR Y-9 family of reports (FR Y-9C, FR Y-9LP, FR Y-
9SP, FR Y-9ES, and FR Y-9CS), the FR Y-7N family of reports (FR Y-7N, 
FR Y-7NS, and FR Y-7Q), and the FR 2886b report; \1\ (2) delete certain 
existing data items and make other targeted revisions to the FR Y-9C 
report; (3) remove from the FR Y-9LP, the FR Y-7N, and the FR 2886b 
reports the term ``extraordinary items'' and replace it with 
``discontinued operations'' to be consistent with recent accounting 
changes; (4) reclassify and clarify the reporting for certain tax 
benefits on all applicable reports; (5) add one new data item to the FR 
Y-9SP report; and (6) replace references to ``loans net of unearned 
income'' with ``loans held for investment'' on all applicable 
reports.\2\ The second proposal would (1) extend for three years the FR 
Y-11 family of reports (FR Y-11 and the FR Y-11S) and the FR 2314 
family of reports (FR 2314 and the FR 2314S); \3\ (2) remove from these 
reports the term ``extraordinary items'' and replace it with 
``discontinued operations'' to be consistent with recent accounting 
changes and (3) replace references to ``loans net of unearned income'' 
with ``loans held for

[[Page 43368]]

investment'' on all applicable reports.\4\ As originally proposed, both 
proposals would be effective for reports submitted on or after October 
1, 2017, beginning with the reports reflecting the September 30, 2017, 
report date. The comment period for both proposals ends September 18, 
2017.
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    \1\ The FR Y-9 family of reporting forms are the primary source 
of financial data on bank holding companies (BHCs), savings and loan 
holding companies (SLHCs), securities holding companies (SHCs), and 
U.S. Intermediate Holding Companies (IHCs) (collectively, holding 
companies (HCs)). The FR Y-7N family of reporting forms collect 
financial information for non-functionally regulated U.S. nonbank 
subsidiaries held by foreign banking organizations (FBOs) other than 
through a BHC, IHC, or U.S. bank. The FR 2886b reporting form 
collects financial data from banking Edge and agreement corporations 
and investment (nonbanking) Edge and agreement corporations 
(collectively, Edges or Edge corporations).
    \2\ See 82 FR 32812 (July 18, 2017).
    \3\ The FR Y-11 reporting forms collect financial information 
for individual non-functionally regulated U.S. nonbank subsidiaries 
of domestic holding companies. The FR 2314 reporting forms collect 
financial information for non-functionally regulated direct or 
indirect foreign subsidiaries of U.S. state member banks, Edge and 
agreement corporations, and holding companies.
    \4\ See 82 FR 32814 (July 18, 2017).
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    The Federal Reserve received a comment letter from a banking 
association that, while expressing support for the FR Y-9C proposed 
changes, urged the Federal Reserve to have the FR Y-9C revisions 
incorporated into the March 31, 2018, report date (rather than the 
September 30, 2017, report date) to harmonize the proposed changes with 
the proposed changes to the Federal Financial Institutions Examination 
Council (FFIEC) Consolidated Reports of Condition and Income (Call 
Reports) (FFIEC 031 & 041; OMB No. 7100-0036) that are filed by insured 
depository institutions.
    The Federal Reserve agrees with the commenter's suggestion. The 
Federal Reserve also believes that making the proposed changes 
effective with the reports reflecting the March 31, 2018, report date, 
which are submitted on or after April 1, 2018, would give institutions 
ample notice to prepare for the revisions and would minimize burden by 
allowing institutions to prepare their systems once for these proposed 
changes and any future burden reducing changes targeted for that report 
date. Finally, the Federal Reserve believes that notifying the public 
of this deferral prior to the end of the comment period would minimize 
the burden on institutions associated with system changes and other 
processes necessary to implement the reporting changes.
    Consequently, in order to avoid any undue hardships to holding 
companies in meeting the October 1, 2017, implementation date, the 
Federal Reserve recommends amending the proposals to extend, with 
revision, the FR Y-9 family of reports, the FR Y-7N family of reports, 
and the FR 2886b report to make the proposed changes effective for 
reports submitted on or after April 1, 2018, beginning with the reports 
reflecting the March 31, 2018, report date. Because the proposed 
revisions to the FR Y-11 family of reports and the FR 2314 family of 
reports align with the FR Y-9C reporting changes, the Federal Reserve 
also recommends deferring the proposed implementation date for these 
revisions. These modifications also would be effective for reports 
reflecting the March 31, 2018, report date, which are submitted on or 
after April 1, 2018. Amending the proposals would not require an 
extension of the proposals' comment period, the end of which would 
continue to be September 18, 2017.

    Board of Governors of the Federal Reserve System, September 11, 
2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-19568 Filed 9-14-17; 8:45 am]
 BILLING CODE 6210-01-P

Federal Register / Vol. 82, No. 178 / Friday, September 15, 2017 / Notices 43367

this 60-day comment period to the technical and market data regarding the requested from the agency clearance
Office of Management and Budget broadband services they provide is officer, whose name appears below.
(OMB) to obtain the full three-year unavailable from other sources. Federal Reserve Board Clearance
clearance. Federal Communications Commission. Officer—Nuha Elmaghrabi—Office of
This study’s collection of information the Chief Data Officer, Board of
Katura Jackson,
on actual speeds and performance of Governors of the Federal Reserve
fixed and mobile broadband Federal Register Liaison Officer, Office of the
Secretary. System, Washington, DC 20551, (202)
connections delivered to consumers by 452–3829. Telecommunications Device
ISPs has been reported to be of great [FR Doc. 2017–19579 Filed 9–14–17; 8:45 am]
for the Deaf (TDD) users may contact
value to academic researchers, BILLING CODE 6712–01–P
(202) 263–4869, Board of Governors of
manufacturers and technology the Federal Reserve System,
providers, broadband providers, public Washington, DC 20551.
interest groups and other diverse
stakeholders. Validation of fixed FEDERAL RESERVE SYSTEM SUPPLEMENTARY INFORMATION: On July
broadband subscribed speeds as 18, 2017, the Federal Reserve requested
Proposed Agency Information comment on two proposals. The first
opposed to actual speeds by
Collection Activities; Comment proposed to (1) extend for three years
participating ISPs remains unique to
Request the FR Y–9 family of reports (FR Y–9C,
this program and provides a context for
measured speeds. Mobile broadband AGENCY: Board of Governors of the FR Y–9LP, FR Y–9SP, FR Y–9ES, and
performance information is measured Federal Reserve System. FR Y–9CS), the FR Y–7N family of
using the FCC Speed Test app for reports (FR Y–7N, FR Y–7NS, and FR
ACTION: Revision to proposal.
Android and iPhone devices to test the Y–7Q), and the FR 2886b report; 1 (2)
upload and download speed, latency SUMMARY: The Board of Governors of the delete certain existing data items and
and packet loss, as well as the wireless Federal Reserve System (Board or make other targeted revisions to the FR
performance characteristics of the Federal Reserve) has modified its Y–9C report; (3) remove from the FR Y–
broadband connection and the kind of proposal to extend for three years, with 9LP, the FR Y–7N, and the FR 2886b
handsets and versions of operating revision, the Consolidated Financial reports the term ‘‘extraordinary items’’
systems tested. Information the FCC Statements for Holding Companies (FR and replace it with ‘‘discontinued
Speed Test App (‘‘Application’’) collects Y–9C) (OMB No. 7100–0128), the Parent operations’’ to be consistent with recent
is limited to information used to Company Only Financial Statements for accounting changes; (4) reclassify and
measure volunteers’ mobile broadband Large Holding Companies (FR Y–9LP) clarify the reporting for certain tax
service and no personally identifiable (OMB No. 7100–0128), the Parent benefits on all applicable reports; (5)
information, such as subscribers’ name, Company Only Financial Statements for add one new data item to the FR Y–9SP
phone number or unique identifiers Small Holding Companies (FR Y–9SP) report; and (6) replace references to
associated with a device is collected. (OMB No. 7100–0128), the Financial ‘‘loans net of unearned income’’ with
Software-based tools and online tools Statements of U.S. Nonbank ‘‘loans held for investment’’ on all
exist that can test consumer’s broadband Subsidiaries Held by Foreign Banking applicable reports.2 The second
connections, including a set of Organizations (FR Y–7N) (OMB No. proposal would (1) extend for three
consumer tools launched by the FCC in 7100–0125), the Consolidated Report of years the FR Y–11 family of reports (FR
conjunction with the National Condition and Income for Edge and Y–11 and the FR Y–11S) and the FR
Broadband Plan. However, these tools Agreement Corporations (FR 2886b) 2314 family of reports (FR 2314 and the
track speeds experienced by consumers, (OMB No. 7100–0086), the Financial FR 2314S); 3 (2) remove from these
rather than speeds delivered directly to Statements of U.S. Nonbank reports the term ‘‘extraordinary items’’
a consumer by an ISP. The distinction Subsidiaries of U.S. Holding Companies and replace it with ‘‘discontinued
is important for supporting Agency (FR Y–11) (OMB No. 7100–0244), and operations’’ to be consistent with recent
broadband policy analysis, as ISPs the Financial Statements of Foreign accounting changes and (3) replace
advertise speeds and performance Subsidiaries of U.S. Banking references to ‘‘loans net of unearned
delivered rather than speeds Organizations (FR 2314) (OMB No. income’’ with ‘‘loans held for
experienced, which suffers from 7100–0073). The Board has changed the
degradation outside of an ISP’s control. implementation date for reporting the 1 The FR Y–9 family of reporting forms are the

No other dedicated panel of direct proposed revisions from September 30, primary source of financial data on bank holding
fixed and mobile broadband companies (BHCs), savings and loan holding
2017, to March 31, 2018. companies (SLHCs), securities holding companies
performance measurement using
DATES: The proposed collection of (SHCs), and U.S. Intermediate Holding Companies
publicly documented methodologies (IHCs) (collectively, holding companies (HCs)). The
using free and add-free technologies information is amended effective FR Y–7N family of reporting forms collect financial
exists today in the country. The program September 11, 2017, however the public information for non-functionally regulated U.S.
will continue to support existing comment period shall terminate on nonbank subsidiaries held by foreign banking
September 18, 2017. organizations (FBOs) other than through a BHC,
software-based tools and online tools IHC, or U.S. bank. The FR 2886b reporting form
but the focus of the program will remain FOR FURTHER INFORMATION CONTACT: A collects financial data from banking Edge and
the direct measurement of broadband copy of the PRA OMB submission, agreement corporations and investment
performance delivered to the consumer. including the proposed reporting form (nonbanking) Edge and agreement corporations
(collectively, Edges or Edge corporations).
The collection effort also has specific and instructions, supporting statement,
mstockstill on DSK30JT082PROD with NOTICES

2 See 82 FR 32812 (July 18, 2017).
elements focused on further network and other documentation will be placed 3 The FR Y–11 reporting forms collect financial
performance statistics, time of day into OMB’s public docket files, once information for individual non-functionally
parameters, and other elements affecting approved. These documents will also be regulated U.S. nonbank subsidiaries of domestic
consumers’ broadband experience that made available on the Federal Reserve holding companies. The FR 2314 reporting forms
collect financial information for non-functionally
are not tracked elsewhere. The Board’s public Web site at: http:// regulated direct or indirect foreign subsidiaries of
information to be confirmed by ISP www.federalreserve.gov/apps/ U.S. state member banks, Edge and agreement
Partners about their subscribers or reportforms/review.aspx or may be corporations, and holding companies.

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43368 Federal Register / Vol. 82, No. 178 / Friday, September 15, 2017 / Notices

investment’’ on all applicable reports.4 the March 31, 2018, report date, which SUPPLEMENTARY INFORMATION: Pursuant
As originally proposed, both proposals are submitted on or after April 1, 2018. to Section 6(f) of the Federal Trade
would be effective for reports submitted Amending the proposals would not Commission Act, 15 U.S.C. 46(f), and
on or after October 1, 2017, beginning require an extension of the proposals’ FTC Rule 2.34, 16 CFR 2.34, notice is
with the reports reflecting the comment period, the end of which hereby given that the above-captioned
September 30, 2017, report date. The would continue to be September 18, consent agreement containing a consent
comment period for both proposals ends 2017. order to cease and desist, having been
September 18, 2017. Board of Governors of the Federal Reserve filed with and accepted, subject to final
The Federal Reserve received a System, September 11, 2017. approval, by the Commission, has been
comment letter from a banking placed on the public record for a period
Ann E. Misback,
association that, while expressing of thirty (30) days. The following
Secretary of the Board.
support for the FR Y–9C proposed Analysis to Aid Public Comment
changes, urged the Federal Reserve to [FR Doc. 2017–19568 Filed 9–14–17; 8:45 am]
describes the terms of the consent
have the FR Y–9C revisions BILLING CODE 6210–01–P agreement, and the allegations in the
incorporated into the March 31, 2018, complaint. An electronic copy of the
report date (rather than the September full text of the consent agreement
30, 2017, report date) to harmonize the FEDERAL TRADE COMMISSION package can be obtained from the FTC
proposed changes with the proposed Home Page (for September 8, 2017), on
changes to the Federal Financial [File No. 172 3172] the World Wide Web, at https://
Institutions Examination Council www.ftc.gov/news-events/commission-
(FFIEC) Consolidated Reports of Md7, LLC; Analysis To Aid Public actions.
Condition and Income (Call Reports) Comment You can file a comment online or on
(FFIEC 031 & 041; OMB No. 7100–0036) paper. For the Commission to consider
that are filed by insured depository AGENCY: Federal Trade Commission. your comment, we must receive it on or
institutions. ACTION: Proposed consent agreement. before October 10, 2017. Write ‘‘In the
The Federal Reserve agrees with the Matter of Md7, LLC, File No. 172 3172’’
commenter’s suggestion. The Federal SUMMARY: The consent agreement in this on your comment. Your comment—
Reserve also believes that making the matter settles alleged violations of including your name and your state—
proposed changes effective with the federal law prohibiting unfair or will be placed on the public record of
reports reflecting the March 31, 2018, deceptive acts or practices. The attached this proceeding, including, to the extent
report date, which are submitted on or Analysis to Aid Public Comment practicable, on the public Commission
after April 1, 2018, would give describes both the allegations in the Web site, at https://www.ftc.gov/policy/
institutions ample notice to prepare for complaint and the terms of the consent public-comments.
the revisions and would minimize order—embodied in the consent Postal mail addressed to the
burden by allowing institutions to agreement—that would settle these Commission is subject to delay due to
prepare their systems once for these allegations. heightened security screening. As a
proposed changes and any future DATES: Comments must be received on result, we encourage you to submit your
burden reducing changes targeted for or before October 10, 2017. comments online. To make sure that the
that report date. Finally, the Federal Commission considers your online
ADDRESSES: Interested parties may file a
Reserve believes that notifying the comment, you must file it at https://
comment online or on paper, by
public of this deferral prior to the end ftcpublic.commentworks.com/ftc/
of the comment period would minimize following the instructions in the md7consent by following the
the burden on institutions associated Request for Comment part of the instructions on the web-based form. If
SUPPLEMENTARY INFORMATION section
with system changes and other this Notice appears at http://
processes necessary to implement the below. Write: ‘‘In the Matter of Md7, www.regulations.gov/#!home, you also
reporting changes. LLC, File No. 172 3172’’ on your may file a comment through that Web
Consequently, in order to avoid any comment, and file your comment online site.
undue hardships to holding companies at https://ftcpublic.commentworks.com/ If you prefer to file your comment on
in meeting the October 1, 2017, ftc/md7consent by following the paper, write ‘‘In the Matter of Md7, LLC,
implementation date, the Federal instructions on the web-based form. If File No. 172 3172’’ on your comment
Reserve recommends amending the you prefer to file your comment on and on the envelope, and mail your
proposals to extend, with revision, the paper, write ‘‘In the Matter of Md7, LLC, comment to the following address:
FR Y–9 family of reports, the FR Y–7N File No. 172 3172’’ on your comment Federal Trade Commission, Office of the
family of reports, and the FR 2886b and on the envelope, and mail your Secretary, 600 Pennsylvania Avenue
report to make the proposed changes comment to the following address: NW., Suite CC–5610 (Annex D),
effective for reports submitted on or Federal Trade Commission, Office of the Washington, DC 20580, or deliver your
after April 1, 2018, beginning with the Secretary, 600 Pennsylvania Avenue comment to the following address:
reports reflecting the March 31, 2018, NW., Suite CC–5610 (Annex D), Federal Trade Commission, Office of the
report date. Because the proposed Washington, DC 20580, or deliver your Secretary, Constitution Center, 400 7th
revisions to the FR Y–11 family of comment to the following address: Street SW., 5th Floor, Suite 5610
reports and the FR 2314 family of Federal Trade Commission, Office of the (Annex D), Washington, DC 20024. If
reports align with the FR Y–9C Secretary, Constitution Center, 400 7th possible, submit your paper comment to
mstockstill on DSK30JT082PROD with NOTICES

reporting changes, the Federal Reserve Street SW., 5th Floor, Suite 5610 the Commission by courier or overnight
also recommends deferring the (Annex D), Washington, DC 20024. service.
proposed implementation date for these FOR FURTHER INFORMATION CONTACT: Because your comment will be placed
revisions. These modifications also Monique Einhorn (202–326–2575), on the publicly accessible FTC Web site
would be effective for reports reflecting Bureau of Consumer Protection, 600 at https://www.ftc.gov, you are solely
Pennsylvania Avenue NW., Washington, responsible for making sure that your
4 See 82 FR 32814 (July 18, 2017). DC 20580. comment does not include any sensitive

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Document Created: 2017-09-15 00:18:18
Document Modified: 2017-09-15 00:18:18

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		Revision to proposal.
Dates		The proposed collection of information is amended effective September 11, 2017, however the public comment period shall terminate on September 18, 2017.
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.
FR Citation		82 FR 43367