83_FR_18925 83 FR 18842 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB

83 FR 18842 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 83 (April 30, 2018)

Page Range18842-18843
FR Document2018-08992

The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Recordkeeping Requirements Associated with Limitations on Interbank Liabilities (Regulation F; OMB No. 7100-0331).

Federal Register, Volume 83 Issue 83 (Monday, April 30, 2018) 
[Federal Register Volume 83, Number 83 (Monday, April 30, 2018)]
[Notices]
[Pages 18842-18843]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-08992]


=======================================================================
-----------------------------------------------------------------------

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: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, without revision, the 
Recordkeeping Requirements Associated with Limitations on Interbank 
Liabilities (Regulation F; OMB No. 7100-0331).

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 
or by fax to (202) 395-6974.

SUPPLEMENTARY INFORMATION: On June 15, 1984, the Office of Management 
and Budget (OMB) delegated to the Board authority under the Paperwork 
Reduction Act (PRA) to approve of and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board. 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.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following report:
    Report title: Recordkeeping Requirements Associated with 
Limitations on Interbank Liabilities.
    Agency form number: Regulation F.
    OMB control number: 7100-0331.
    Frequency: On occasion.
    Respondents: Depository institutions insured by the Federal Deposit 
Insurance Corporation (FDIC).
    Estimated number of respondents: State member banks: 829; non-
member banks: 3,396; national banks: 921; state savings banks: 309; 
federal savings banks: 228; savings & loan associations: 195; insured 
federal branch of foreign banking organization: 4; insured state branch 
of foreign banking organization: 6; non-depository trust company 
member: 2; cooperative banks: 33.
    Estimated average hours per response: 8 hours.
    Estimated annual burden hours: State member banks: 6,632; non-
member banks: 27,168; national banks: 7,368; state savings banks: 
2,472; federal savings banks: 1,824; savings & loan associations: 
1,560; insured federal branch of foreign banking organization: 32; 
insured state branch of foreign banking organization: 48; non-
depository trust company member: 16; cooperative banks: 264.
    General description of report: Section 206.3 of the Board's 
Regulation F, 12 CFR 206.3, requires insured depository institutions to 
establish and maintain policies and procedures designed to prevent 
excessive exposure to ``correspondents,'' which include non-affiliated 
U.S. insured depository institutions and non-affiliated foreign banks. 
Regulation F limits the risks that the failure of a correspondent would 
pose to insured depository institutions. Where exposure to a 
correspondent is significant, the policies and procedures shall require 
periodic reviews of the financial condition of the correspondent and 
shall take into account any deterioration in the correspondent's 
financial condition. Where the financial condition of the correspondent 
and the form or maturity of the exposure create a significant risk that 
payments will not be made in full or in a timely manner, the policies 
and procedures should limit the bank's exposure to the correspondent, 
either by the establishment of internal limits or by other means.
    The Board has updated its burden estimate for this information 
collection to account for all depository institutions insured by the 
Federal Deposit Insurance Corporation (FDIC), all of which are 
potential respondents. The Board's previous burden estimate accounted 
only for state member banks. The increase in burden reflects the update 
to correct the number of potential respondents, and is not due to a 
change in burden for individual institutions.
    Legal authorization and confidentiality: The Board's Legal Division 
has determined that the recordkeeping requirements of Regulation F are 
mandatory and authorized by section 23 of the Federal Reserve Act, as 
added by section 308 of the Federal Deposit Insurance Corporation 
Improvement Act of 1991 (FDICIA) (12 U.S.C. 371b-2). Because the Board 
does not collect any information, no issue of confidentiality normally 
arises. However, if a compliance program becomes a Board record during 
an examination, the information may be protected from disclosure under 
exemptions (b)(4) and (b)(8) of the Freedom of Information Act (5 
U.S.C. 552(b)(4) and (b)(8)).
    Current actions: On January 23, 2018, the Board published a notice 
in the Federal Register (83 FR 3148) requesting public comment for 60 
days on the extension for three years, without revision, of the 
Recordkeeping Requirements Associated with Limitations on Interbank 
Liabilities (Regulation F). The comment period for this notice expired 
on March 26, 2018.

[[Page 18843]]

The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, April 24, 
2018.
Ann Misback,
Secretary of the Board.
[FR Doc. 2018-08992 Filed 4-27-18; 8:45 am]
 BILLING CODE 6210-01-P

18842 Federal Register / Vol. 83, No. 83 / Monday, April 30, 2018 / Notices newly chartered branch banking OMB Desk Officer—Shagufta CFR 206.3, requires insured depository institutions and the number of Ahmed—Office of Information and institutions to establish and maintain institutions that transitioned from Regulatory Affairs, Office of policies and procedures designed to having no branches to having at least Management and Budget, New prevent excessive exposure to one branch. FDIC records reflect that Executive Office Building, Room 10235, ‘‘correspondents,’’ which include non- there were 683 branch closures, on 725 17th Street NW, Washington, DC affiliated U.S. insured depository average, each year between 2015 and 20503 or by fax to (202) 395–6974. institutions and non-affiliated foreign 2017. FDIC estimates that an average of SUPPLEMENTARY INFORMATION: On June banks. Regulation F limits the risks that 23 institutions each year will transition 15, 1984, the Office of Management and the failure of a correspondent would from having no branches to having at Budget (OMB) delegated to the Board pose to insured depository institutions. least one branch. authority under the Paperwork Where exposure to a correspondent is Reduction Act (PRA) to approve of and significant, the policies and procedures Request for Comment assign OMB control numbers to shall require periodic reviews of the Comments are invited on: (a) Whether collection of information requests and financial condition of the correspondent the collection of information is requirements conducted or sponsored and shall take into account any necessary for the proper performance of by the Board. Board-approved deterioration in the correspondent’s the FDIC’s functions, including whether collections of information are financial condition. Where the financial the information has practical utility; (b) incorporated into the official OMB condition of the correspondent and the the accuracy of the estimates of the inventory of currently approved form or maturity of the exposure create burden of the information collection, collections of information. Copies of the a significant risk that payments will not including the validity of the Paperwork Reduction Act Submission, be made in full or in a timely manner, methodology and assumptions used; (c) supporting statements and approved the policies and procedures should limit ways to enhance the quality, utility, and collection of information instrument(s) the bank’s exposure to the clarity of the information to be are placed into OMB’s public docket correspondent, either by the collected; and (d) ways to minimize the files. The Federal Reserve may not establishment of internal limits or by burden of the collection of information conduct or sponsor, and the respondent other means. on respondents, including through the is not required to respond to, an The Board has updated its burden use of automated collection techniques information collection that has been estimate for this information collection or other forms of information extended, revised, or implemented on or to account for all depository institutions technology. All comments will become after October 1, 1995, unless it displays insured by the Federal Deposit a matter of public record. a currently valid OMB control number. Insurance Corporation (FDIC), all of Dated at Washington, DC, on April 25, Final approval under OMB delegated which are potential respondents. The 2018. authority of the extension for three Board’s previous burden estimate Federal Deposit Insurance Corporation. years, without revision, of the following accounted only for state member banks. Robert E. Feldman, report: The increase in burden reflects the Report title: Recordkeeping update to correct the number of Executive Secretary. Requirements Associated with potential respondents, and is not due to [FR Doc. 2018–09014 Filed 4–27–18; 8:45 am] Limitations on Interbank Liabilities. a change in burden for individual BILLING CODE 6714–01–P Agency form number: Regulation F. institutions. OMB control number: 7100–0331. Legal authorization and Frequency: On occasion. Respondents: Depository institutions confidentiality: The Board’s Legal FEDERAL RESERVE SYSTEM insured by the Federal Deposit Division has determined that the Agency Information Collection Insurance Corporation (FDIC). recordkeeping requirements of Activities: Announcement of Board Estimated number of respondents: Regulation F are mandatory and Approval Under Delegated Authority State member banks: 829; non-member authorized by section 23 of the Federal and Submission to OMB banks: 3,396; national banks: 921; state Reserve Act, as added by section 308 of savings banks: 309; federal savings the Federal Deposit Insurance AGENCY: Board of Governors of the Corporation Improvement Act of 1991 banks: 228; savings & loan associations: Federal Reserve System. (FDICIA) (12 U.S.C. 371b–2). Because 195; insured federal branch of foreign SUMMARY: The Board of Governors of the banking organization: 4; insured state the Board does not collect any Federal Reserve System (Board) is branch of foreign banking organization: information, no issue of confidentiality adopting a proposal to extend for three 6; non-depository trust company normally arises. However, if a years, without revision, the member: 2; cooperative banks: 33. compliance program becomes a Board Recordkeeping Requirements Estimated average hours per response: record during an examination, the Associated with Limitations on 8 hours. information may be protected from Interbank Liabilities (Regulation F; OMB Estimated annual burden hours: State disclosure under exemptions (b)(4) and No. 7100–0331). member banks: 6,632; non-member (b)(8) of the Freedom of Information Act FOR FURTHER INFORMATION CONTACT: banks: 27,168; national banks: 7,368; (5 U.S.C. 552(b)(4) and (b)(8)). Federal Reserve Board Clearance state savings banks: 2,472; federal Current actions: On January 23, 2018, Officer—Nuha Elmaghrabi—Office of savings banks: 1,824; savings & loan the Board published a notice in the the Chief Data Officer, Board of associations: 1,560; insured federal Federal Register (83 FR 3148) nshattuck on DSK9F9SC42PROD with NOTICES Governors of the Federal Reserve branch of foreign banking organization: requesting public comment for 60 days System, Washington, DC 20551 (202) 32; insured state branch of foreign on the extension for three years, without 452–3829. Telecommunications Device banking organization: 48; non- revision, of the Recordkeeping for the Deaf (TDD) users may contact depository trust company member: 16; Requirements Associated with (202) 263–4869, Board of Governors of cooperative banks: 264. Limitations on Interbank Liabilities the Federal Reserve System, General description of report: Section (Regulation F). The comment period for Washington, DC 20551. 206.3 of the Board’s Regulation F, 12 this notice expired on March 26, 2018. VerDate Sep<11>2014 15:01 Apr 27, 2018 Jkt 244001 PO 00000 Frm 00068 Fmt 4703 Sfmt 4703 E:\FR\FM\30APN1.SGM 30APN1

Federal Register / Vol. 83, No. 83 / Monday, April 30, 2018 / Notices 18843 The Board did not receive any order to inspect and photocopy c. Ways to enhance the quality, comments. comments. utility, and clarity of the information to Board of Governors of the Federal Reserve Additionally, commenters may send a be collected; System, April 24, 2018. copy of their comments to the OMB d. Ways to minimize the burden of Ann Misback, Desk Officer—Shagufta Ahmed—Office information collection on respondents, Secretary of the Board. of Information and Regulatory Affairs, including through the use of automated Office of Management and Budget, New collection techniques or other forms of [FR Doc. 2018–08992 Filed 4–27–18; 8:45 am] Executive Office Building, Room 10235, information technology; and BILLING CODE 6210–01–P 725 17th Street NW, Washington, DC e. Estimates of capital or startup costs 20503 or by fax to (202) 395–6974. and costs of operation, maintenance, and purchase of services to provide FEDERAL RESERVE SYSTEM FOR FURTHER INFORMATION CONTACT: A information. copy of the PRA OMB submission, At the end of the comment period, the Proposed Agency Information including the proposed reporting form Collection Activities; Comment comments and recommendations and instructions, supporting statement, received will be analyzed to determine Request and other documentation will be placed the extent to which the Federal Reserve AGENCY: Board of Governors of the into OMB’s public docket files, if should modify the proposal. Federal Reserve System. approved. These documents will also be Proposal to approve under OMB ACTION: Notice, request for comment. made available on the Federal Reserve delegated authority the extension for Board’s public website at: http:// three years, with revision, of the SUMMARY: The Board of Governors of the www.federalreserve.gov/apps/ following reports: Federal Reserve System (Board) invites reportforms/review.aspx or may be Report title: Financial Statements for comment on a proposal to extend for requested from the agency clearance Holding Companies. three years, with revision, the Financial officer, whose name appears below. Agency form number: FR Y–9C, FR Statements for Holding Companies (FR Federal Reserve Board Clearance Y–9LP, FR Y–9SP, FR Y–9ES, and FR Y–9 family of reports) (OMB No. 7100– Officer—Nuha Elmaghrabi—Office of Y–9CS. 0128). the Chief Data Officer, Board of OMB control number: 7100–0128. DATES: Comments must be submitted on Governors of the Federal Reserve Frequency: Quarterly, semiannually, or before June 29, 2018. System, Washington, DC 20551, (202) and annually. ADDRESSES: You may submit comments, 452–3829. Telecommunications Device Reporters: Bank holding companies, identified by FR Y–9C, FR Y–9LP, FR Y– for the Deaf (TDD) users may contact savings and loan holding companies, 9SP, FR Y–9ES, or FR Y–9CS, by any of (202) 263–4869, Board of Governors of securities holding companies, and U.S. the following methods: the Federal Reserve System, Intermediate Holding Companies • Agency Website: http:// Washington, DC 20551. (collectively, holding companies (HCs)). www.federalreserve.gov. Follow the SUPPLEMENTARY INFORMATION: On June Estimated average hours per response: instructions for submitting comments at 15, 1984, the Office of Management and FR Y–9C (non-advanced approaches http://www.federalreserve.gov/apps/ Budget (OMB) delegated to the Board holding companies): 46.29 hours; FR foia/proposedregs.aspx. authority under the Paperwork Y–9C (advanced approached holding • Email: regs.comments@ Reduction Act (PRA) to approve of and companies HCs): 47.54 hours; FR federalreserve.gov. Include OMB assign OMB control numbers to Y–9LP: 5.27 hours; FR Y–9SP: 5.40 number in the subject line of the collection of information requests and hours FR Y–9ES: 0.50 hours; FR Y–9CS: message. requirements conducted or sponsored 0.50 hours. • FAX: (202) 452–3819 or (202) 452– by the Board. In exercising this Estimated number of respondents: FR 3102. Y–9C (non-advanced approaches delegated authority, the Board is • Mail: Ann E. Misback, Secretary, holding companies): 623; FR Y–9C directed to take every reasonable step to Board of Governors of the Federal (advanced approached holding solicit comment. In determining Reserve System, 20th Street and companies): 18; FR Y–9LP: 761; FR whether to approve a collection of Constitution Avenue NW, Washington, Y–9SP: 3,613 FR Y–9ES: 84; FR Y–9CS: information, the Board will consider all DC 20551. 236. All public comments are available comments received from the public and Estimated annual burden hours: FR from the Board’s website at http:// other agencies. Y–9C (non-advanced approaches www.federalreserve.gov/apps/foia/ Request for comment on information holding companies): 115,355 hours; FR proposedregs.aspx as submitted, unless collection proposal: Y–9C (advanced approached holding modified for technical reasons. The Board invites public comment on companies): 3,423 hours; FR Y–9LP: Accordingly, your comments will not be the following information collection, 16,042 hours; FR Y–9SP: 39,020; FR edited to remove any identifying or which is being reviewed under Y–9ES: 42 hours; FR Y–9CS: 472 hours. contact information. Public comments authority delegated by the OMB under General description of report: The FR may also be viewed electronically or in the PRA. Comments are invited on the Y–9C serves as standardized financial paper form in Room 3515, 1801 K Street following: statements for the consolidated holding (between 18th and 19th Streets NW) a. Whether the proposed collection of company. The FR Y–9 family of Washington, DC 20006 between 9:00 information is necessary for the proper reporting forms continues to be the a.m. and 5:00 p.m. on weekdays. For performance of the Federal Reserve’s primary source of financial data on HCs nshattuck on DSK9F9SC42PROD with NOTICES security reasons, the Board requires that functions; including whether the that examiners rely on between on-site visitors make an appointment to inspect information has practical utility; inspections. Financial data from these comments. You may do so by calling b. The accuracy of the Federal reporting forms is used to detect (202) 452–3684. Upon arrival, visitors Reserve’s estimate of the burden of the emerging financial problems, review will be required to present valid proposed information collection, performance, conduct pre-inspection government-issued photo identification including the validity of the analysis, monitor and evaluate capital and to submit to security screening in methodology and assumptions used; adequacy, evaluate HC mergers and VerDate Sep<11>2014 15:01 Apr 27, 2018 Jkt 244001 PO 00000 Frm 00069 Fmt 4703 Sfmt 4703 E:\FR\FM\30APN1.SGM 30APN1


Document Created: 2018-04-28 01:04:07
Document Modified: 2018-04-28 01:04:07
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionOn January 23, 2018, the Board published a notice in the Federal Register (83 FR 3148) requesting public comment for 60 days on the extension for three years, without revision, of the Recordkeeping Requirements Associated with Limitations on Interbank Liabilities (Regulation F). The comment period for this notice expired on March 26, 2018. The Board did not receive any comments.
ContactFederal 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 Citation83 FR 18842 
2024 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR