83 FR 18564 - Proposed Agency Information Collection Activities; Comment Request
FEDERAL RESERVE SYSTEM Federal Register Volume 83, Issue 82 (April 27, 2018)
Federal Register Volume 83, Issue 82 (April 27, 2018)
| Page Range | 18564-18565 | |
| FR Document | 2018-08838 |
[Federal Register Volume 83, Number 82 (Friday, April 27, 2018)] [Notices] [Pages 18564-18565] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-08838] ----------------------------------------------------------------------- FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request AGENCY: Board of Governors of the Federal Reserve System (Board), Federal Reserve System. ACTION: Notice and request for comment. ----------------------------------------------------------------------- SUMMARY: In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the ``agencies'') may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, has approved the Board's publication for public comment of a proposal to extend, without revision, the Country Exposure Report for U.S. Branches and Agencies of Foreign Banks (FFIEC 019), which is currently an approved collection of information. The Board is publishing this proposal on behalf of the agencies. In determining whether to modify the proposed collection of information, the agencies will consider all comments received. As required by the PRA, the Board would then publish a second Federal Register notice for a 30-day comment period and submit the final FFIEC 019 to OMB for review and approval. DATES: Comments must be submitted on or before June 26, 2018. ADDRESSES: Interested parties are invited to submit written comments to the agency listed below. All comments, which should refer to the OMB control number, will be shared among the agencies. You may submit comments, which should refer to ``FFIEC 019,'' by any of the following methods:Agency website: http://www.federalreserve.gov. Follow the instructions for submitting comments at: http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm. Email: regs.comments@federalreserve.gov. Include the reporting [[Page 18565]] form number in the subject line of the message. Fax: (202) 452-3819 or (202) 452-3102. Mail: Ann E. Misback, 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 website at www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm 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 NW (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 for the agencies by mail to the Office of Information and Regulatory Affairs, U.S. Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503; by fax to (202) 395-6974; or by email to oira_submission@omb.eop.gov. FOR FURTHER INFORMATION CONTACT: For further information about the proposed extension without revision of the FFIEC 019 discussed in this notice, please contact the agency staff member whose name appears below. In addition, a copy of the FFIEC 019 form can be obtained at the FFIEC's website (https://www.ffiec.gov/ffiec_report_forms.htm). Nuha Elmaghrabi, Federal Reserve Board Clearance Officer, (202) 452-3884, Office of the Chief Data Officer, Board of Governors of the Federal Reserve System, 20th and C Streets NW, Washington, DC 20551. Telecommunications Device for the Deaf (TDD) users may call (202) 263- 4869. SUPPLEMENTARY INFORMATION: The Board is proposing to extend for three years, without revision, the FFIEC 019. Report Title: Country Exposure Report for U.S. Branches and Agencies of Foreign Banks. Form Number: FFIEC 019. OMB Control Number: 7100-0213. Frequency of Response: Quarterly. Affected Public: Business or other for-profit. Respondents: All branches and agencies of foreign banks domiciled in the United States with total direct claims on foreign residents in excess of $30 million. Estimated Number of Respondents: 156. Estimated Average Burden per Response: 10 hours. Estimated Total Annual Burden: 6,240 hours. Type of Review: Extension of currently approved collection. I. General Description of Report This information collection is required pursuant to sections 7 and 13 of the International Banking Act (12 U.S.C. 3105 and 3108) for the Board, sections 7 and 10 of the Federal Deposit Insurance Act (12 U.S.C. 1817 and 1820) for the FDIC, and the National Bank Act (12 U.S.C. 161) as applied through section 4 of the International Banking Act (12 U.S.C. 3102) for the OCC. The FFIEC 019 is given confidential treatment consistent with 5 U.S.C. 552(b)(4) and (b)(8). Abstract The FFIEC 019 report must be filed by each U.S. branch or agency of a foreign bank that has total direct claims on foreign residents in excess of $30 million. The branch or agency reports its total exposure (1) to residents of its home country, and (2) to the other five foreign nations to which its exposure is largest and is at least $20 million. The home country exposure must be reported regardless of the size of the total claims for that nation. Each respondent must report by country, as appropriate, the information on its direct claims (assets such as deposit balances with banks, loans, or securities), indirect claims (which include guarantees), and total adjusted claims on foreign residents, as well as information on commitments. The respondent also must report information on claims on related non-U.S. offices that are included in total adjusted claims on the home country, as well as a breakdown for the home country and each other reported country of adjusted claims on unrelated foreign residents by the sector of borrower or guarantor, and by maturity (in two categories: One year or less, and over one year). The Federal Reserve System collects and processes this report on behalf of all three agencies. II. Current Actions The FFIEC has approved the Board's publication for public comment of a proposal to extend for three years, without revision, the FFIEC 019. III. Request for Comment The FFIEC 019 has remained substantially the same, including with respect to the reporting scope and thresholds, since its original adoption in May 1997. Although the agencies are not proposing any revisions to the FFIEC 019, they are interested in respondents' views on potential revisions they should consider in future proposals. This includes views on whether and how to adjust the $20 million minimum threshold for reporting a non-home foreign country exposure and whether to change the number of non-home foreign countries over that threshold that are reported. Public comment is requested on all aspects of this notice. Comment is also specifically invited on: a. Whether the information collection is necessary for the proper performance of the agencies' functions, including whether the information has practical utility; b. The accuracy of the agencies' estimate of the burden of the 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 the 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. Comments submitted to the Board in response to this notice will be shared with the other agencies. All comments will become a matter of public record. Board of Governors of the Federal Reserve System, April 23, 2018. Ann Misback, Secretary of the Board. [FR Doc. 2018-08838 Filed 4-26-18; 8:45 am] BILLING CODE 6210-01-P
![18564 Federal Register / Vol. 83, No. 82 / Friday, April 27, 2018 / Notices
applicable. In addition, the proposed commenter wanted to confirm that only Board of Governors of the Federal Reserve
revisions ensure that the reporting of public companies and companies with a System, April 23, 2018.
data on equity investments in several market capitalization greater than Ann Misback,
FFIEC 002 schedules is consistent with $75 million are required to have an Secretary of the Board.
changes in the accounting standards integrated audit. [FR Doc. 2018–08839 Filed 4–26–18; 8:45 am]
applicable to such investments. All of BILLING CODE 6210–01–P
Under section 363.3(b) of the FDIC’s
the proposed revisions have been
implemented or proposed to be regulations (12 CFR 363.3(b)), the
implemented in the Call Report. independent public accountant who FEDERAL RESERVE SYSTEM
The comment period for this proposal audits the financial statements of an
ended on February 26, 2018. The Board FDIC-insured branch of a foreign bank Proposed Agency Information
received two comments on the proposal, with $1 billion or more in total claims Collection Activities; Comment
one specific comment from an on nonrelated parties is required to Request
individual on a proposed revision and audit and report on the effectiveness of
AGENCY: Board of Governors of the
one general comment from a the branch’s internal control over
Federal Reserve System (Board), Federal
government entity. The government financial reporting (ICFR). Standards
Reserve System.
entity did not raise concerns about the issued by the PCAOB and the ASB
ACTION: Notice and request for comment.
proposal itself, but stated that it uses provide guidance regarding the
certain data items in the FFIEC 002 and integration of audits of ICFR with audits SUMMARY: In accordance with the
FFIEC 002S in preparing economic of financial statements. Thus, statement requirements of the Paperwork
statistics on international transactions, 1a and its reference to an integrated Reduction Act of 1995 (PRA), the Board,
and encouraged the agencies to continue audit are applicable to certain FDIC- the Federal Deposit Insurance
collecting those items. After considering insured branches, which means that the Corporation (FDIC), and the Office of
the comments received on the proposal, requirement for an integrated audit is the Comptroller of the Currency (OCC)
the agencies will proceed with the not limited to the circumstances (collectively, the ‘‘agencies’’) may not
proposed reporting revisions to the described by the commenter. However, conduct or sponsor, and the respondent
FFIEC 002 and FFIEC 002S, while the Board will clarify statement 1a of is not required to respond to, an
incorporating one clarification in information collection unless it displays
Memorandum item 17 by adding ‘‘(e.g.,
response to the specific comment a currently valid Office of Management
as required for FDIC-insured branches
described below. These reporting and Budget (OMB) control number. The
revisions would take effect as of the subject to Part 363 of the FDIC’s
regulations that have $1 billion or more Federal Financial Institutions
June 30, 2018, report date. Examination Council (FFIEC), of which
in total claims on nonrelated parties)’’ at
II. Specific Comment on the Proposed the end of the proposed text of this the agencies are members, has approved
FFIEC 002 and FFIEC 002S Revisions statement. the Board’s publication for public
Respondents to the FFIEC 002 report comment of a proposal to extend,
III. Request for Comment without revision, the Country Exposure
are currently required to indicate, in
Schedule RAL, Assets and Liabilities, Report for U.S. Branches and Agencies
Public comment is requested on all of Foreign Banks (FFIEC 019), which is
Memorandum item 17, for the March 31 aspects of this notice. Comment is
report date, the most comprehensive currently an approved collection of
specifically invited on: information. The Board is publishing
level of auditing work performed for the
branch or agency by, or on behalf of, its a. Whether the information this proposal on behalf of the agencies.
parent organization during the collections are necessary for the proper In determining whether to modify the
preceding calendar year. In response to performance of the agencies’ functions, proposed collection of information, the
certain auditing standards issued by the including whether the information has agencies will consider all comments
Public Company Accounting Oversight practical utility; received. As required by the PRA, the
Board (PCAOB) and the American b. The accuracy of the agencies’ Board would then publish a second
Institute of Certified Public Federal Register notice for a 30-day
estimate of the burden of the
Accountants’ Auditing Standards Board comment period and submit the final
information collections, including the
(ASB), the Board proposed to revise two FFIEC 019 to OMB for review and
validity of the methodology and
of the existing statements describing the approval.
assumptions used;
most comprehensive level of auditing DATES: Comments must be submitted on
work performed for the branch or c. Ways to enhance the quality,
or before June 26, 2018.
agency during the preceding year. The utility, and clarity of the information to
ADDRESSES: Interested parties are
Board also proposed to revise the be collected;
invited to submit written comments to
information collected in Memorandum d. Ways to minimize the burden of the the agency listed below. All comments,
item 17 to refer only to work performed information collections on respondents, which should refer to the OMB control
by independent external auditors and to including through the use of automated number, will be shared among the
remove the reference to work performed collection techniques or other forms of agencies.
on behalf of the parent organization. information technology; and You may submit comments, which
The Board received one comment should refer to ‘‘FFIEC 019,’’ by any of
e. Estimates of capital or start up costs
from an individual requesting the following methods:
daltland on DSKBBV9HB2PROD with NOTICES
and costs of operation, maintenance,
clarification as to which branches and • Agency website: http://
and purchase of services to provide
agencies are required to have an www.federalreserve.gov. Follow the
integrated audit conducted by information.
instructions for submitting comments at:
independent external auditors as Comments submitted in response to http://www.federalreserve.gov/
mentioned in the text for proposed this notice will be shared among the generalinfo/foia/ProposedRegs.cfm.
statement 1a in the response to agencies. All comments will become a • Email: regs.comments@
Memorandum item 17. Specifically, the matter of public record. federalreserve.gov. Include the reporting
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![Federal Register / Vol. 83, No. 82 / Friday, April 27, 2018 / Notices 18565
form number in the subject line of the Estimated Total Annual Burden: respondents’ views on potential
message. 6,240 hours. revisions they should consider in future
• Fax: (202) 452–3819 or (202) 452– Type of Review: Extension of proposals. This includes views on
3102. currently approved collection. whether and how to adjust the $20
• Mail: Ann E. Misback, Secretary, million minimum threshold for
Board of Governors of the Federal I. General Description of Report
reporting a non-home foreign country
Reserve System, 20th Street and This information collection is exposure and whether to change the
Constitution Avenue NW, Washington, required pursuant to sections 7 and 13 number of non-home foreign countries
DC 20551. of the International Banking Act (12 over that threshold that are reported.
All public comments are available U.S.C. 3105 and 3108) for the Board, Public comment is requested on all
from the Board’s website at sections 7 and 10 of the Federal Deposit aspects of this notice. Comment is also
www.federalreserve.gov/generalinfo/ Insurance Act (12 U.S.C. 1817 and 1820) specifically invited on:
foia/ProposedRegs.cfm as submitted, for the FDIC, and the National Bank Act a. Whether the information collection
unless modified for technical reasons. (12 U.S.C. 161) as applied through is necessary for the proper performance
Accordingly, your comments will not be section 4 of the International Banking of the agencies’ functions, including
edited to remove any identifying or Act (12 U.S.C. 3102) for the OCC. The whether the information has practical
contact information. Public comments FFIEC 019 is given confidential utility;
may also be viewed electronically or in treatment consistent with 5 U.S.C. b. The accuracy of the agencies’
paper form in Room 3515, 1801 K Street 552(b)(4) and (b)(8). estimate of the burden of the
NW (between 18th and 19th Streets information collection, including the
Abstract
NW), Washington, DC 20006, between validity of the methodology and
9:00 a.m. and 5:00 p.m. on weekdays. The FFIEC 019 report must be filed by assumptions used;
Additionally, commenters may send a each U.S. branch or agency of a foreign c. Ways to enhance the quality,
copy of their comments to the OMB bank that has total direct claims on utility, and clarity of the information to
desk officer for the agencies by mail to foreign residents in excess of $30 be collected;
the Office of Information and Regulatory million. The branch or agency reports d. Ways to minimize the burden of the
Affairs, U.S. Office of Management and its total exposure (1) to residents of its information collection on respondents,
Budget, New Executive Office Building, home country, and (2) to the other five including through the use of automated
Room 10235, 725 17th Street NW, foreign nations to which its exposure is collection techniques or other forms of
Washington, DC 20503; by fax to (202) largest and is at least $20 million. The information technology; and
395–6974; or by email to oira_ home country exposure must be e. Estimates of capital or start up costs
submission@omb.eop.gov. reported regardless of the size of the and costs of operation, maintenance,
FOR FURTHER INFORMATION CONTACT: For total claims for that nation. and purchase of services to provide
further information about the proposed Each respondent must report by information.
extension without revision of the FFIEC country, as appropriate, the information Comments submitted to the Board in
019 discussed in this notice, please on its direct claims (assets such as response to this notice will be shared
contact the agency staff member whose deposit balances with banks, loans, or with the other agencies. All comments
name appears below. In addition, a copy securities), indirect claims (which will become a matter of public record.
of the FFIEC 019 form can be obtained include guarantees), and total adjusted Board of Governors of the Federal Reserve
at the FFIEC’s website (https:// claims on foreign residents, as well as System, April 23, 2018.
www.ffiec.gov/ffiec_report_forms.htm). information on commitments. The Ann Misback,
Nuha Elmaghrabi, Federal Reserve respondent also must report information Secretary of the Board.
Board Clearance Officer, (202) 452– on claims on related non-U.S. offices
[FR Doc. 2018–08838 Filed 4–26–18; 8:45 am]
3884, Office of the Chief Data Officer, that are included in total adjusted
BILLING CODE 6210–01–P
Board of Governors of the Federal claims on the home country, as well as
Reserve System, 20th and C Streets NW, a breakdown for the home country and
Washington, DC 20551. each other reported country of adjusted FEDERAL RESERVE SYSTEM
Telecommunications Device for the Deaf claims on unrelated foreign residents by
(TDD) users may call (202) 263–4869. the sector of borrower or guarantor, and Formations of, Acquisitions by, and
SUPPLEMENTARY INFORMATION: The Board by maturity (in two categories: One year Mergers of Bank Holding Companies
is proposing to extend for three years, or less, and over one year). The Federal
Reserve System collects and processes The companies listed in this notice
without revision, the FFIEC 019. have applied to the Board for approval,
Report Title: Country Exposure Report this report on behalf of all three
agencies. pursuant to the Bank Holding Company
for U.S. Branches and Agencies of
Act of 1956 (12 U.S.C. 1841 et seq.)
Foreign Banks. II. Current Actions
Form Number: FFIEC 019. (BHC Act), Regulation Y (12 CFR part
OMB Control Number: 7100–0213. The FFIEC has approved the Board’s 225), and all other applicable statutes
Frequency of Response: Quarterly. publication for public comment of a and regulations to become a bank
Affected Public: Business or other for- proposal to extend for three years, holding company and/or to acquire the
profit. without revision, the FFIEC 019. assets or the ownership of, control of, or
Respondents: All branches and the power to vote shares of a bank or
III. Request for Comment bank holding company and all of the
agencies of foreign banks domiciled in
daltland on DSKBBV9HB2PROD with NOTICES
the United States with total direct The FFIEC 019 has remained banks and nonbanking companies
claims on foreign residents in excess of substantially the same, including with owned by the bank holding company,
$30 million. respect to the reporting scope and including the companies listed below.
Estimated Number of Respondents: thresholds, since its original adoption in The applications listed below, as well
156. May 1997. Although the agencies are as other related filings required by the
Estimated Average Burden per not proposing any revisions to the Board, are available for immediate
Response: 10 hours. FFIEC 019, they are interested in inspection at the Federal Reserve Bank
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Document Created: 2018-04-27 01:45:05
Document Modified: 2018-04-27 01:45:05
| 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 comment. | |
| Dates | Comments must be submitted on or before June 26, 2018. | |
| Contact | For further information about the proposed extension without revision of the FFIEC 019 discussed in this notice, please contact the agency staff member whose name appears below. In addition, a copy of the FFIEC 019 form can be obtained at the FFIEC's website (https://www.ffiec.gov/ffiec_report_forms.htm). | |
| FR Citation | 83 FR 18564 |
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