83 FR 3148 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 15 (January 23, 2018)

Page Range		3148-3149
FR Document		2018-01114

The Board of Governors of the Federal Reserve System (Board) invites comment on 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 15 (Tuesday, January 23, 2018)

[Federal Register Volume 83, Number 15 (Tuesday, January 23, 2018)]
[Notices]
[Pages 3148-3149]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2018-01114]

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FEDERAL RESERVE SYSTEM

Proposed Agency Information Collection Activities; Comment
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

-----------------------------------------------------------------------

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

DATES: Comments must be submitted on or before March 26, 2018.

ADDRESSES: You may submit comments, identified by Regulation F, by any
of the following methods:
Agency Website: http://www.federalreserve.gov. Follow the
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
Email: regs.comments@federalreserve.gov. Include OMB
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
http://www.federalreserve.gov/apps/foia/proposedregs.aspx 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 (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--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.

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 website 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 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. In exercising this delegated authority, the
Board is

[[Page 3149]]

directed to take every reasonable step to solicit comment. In
determining whether to approve a collection of information, the Board
will consider all comments received from the public and other agencies.

Request for Comment on Information Collection Proposal

The Board invites public comment on the following information
collection, which is being reviewed under authority delegated by the
OMB under the PRA. Comments are invited on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
b. The accuracy of the Federal Reserve's estimate of the burden of
the proposed 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 information collection on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
e. Estimates of capital or startup costs and costs of operation,
maintenance, and purchase of services to provide information.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the Federal
Reserve should modify the proposal prior to giving final approval.
Proposal to approve under OMB delegated authority 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)).

Board of Governors of the Federal Reserve System, January 17,
2018.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2018-01114 Filed 1-22-18; 8:45 am]
BILLING CODE 6210-01-P

3148 Federal Register / Vol. 83, No. 15 / Tuesday, January 23, 2018 / Notices

Estimated number of respondents: 4. Regulation U (12 CFR 221.3(c)(1)(i) and • Federal eRulemaking Portal: http://
Estimated average hours per response: (2)(i)), and FR G–1, FR G–2, FR G–3, and www.regulations.gov. Follow the
0.17. FR G–4 are required by sections instructions for submitting comments.
Estimated annual burden hours: 51. 221.3(b)(1), (2), and (3), and (c)(1)(ii) • Email: regs.comments@
General Description of Report: The FR and (2)(ii) of Regulation U (12 CFR federalreserve.gov. Include OMB
G–3, FR T–4, and FR U–1 purpose 221.3(b)(1), (2), and (3), and (c)(1)(ii) number in the subject line of the
statements, which are completed by the and (2)(ii)). message.
borrower and the lender (brokers and FR G–1 and FR G–4 collect financial • FAX: (202) 452–3819 or (202) 452–
dealers, in the case of the FR T–4), information, including a balance sheet, 3102.
consist of three parts. The borrower from nonbank lenders subject to • Mail: Ann E. Misback, Secretary,
completes Part I of the reporting form Board of Governors of the Federal
Regulation U. Some of these lenders
and is required to do the following: Reserve System, 20th Street and
may be individuals or nonbank entities
State the amount of the loan and Constitution Avenue NW, Washington,
that do not make this information
whether the purpose of the loan is to DC 20551.
publicly available; release could
purchase, carry, or trade in securities All public comments are available
therefore cause substantial harm to the
(pursuant to Regulation T) or purchase from the Board’s website at http://
competitive position of the respondent
or carry margin stock (pursuant to www.federalreserve.gov/apps/foia/
or result in an unwarranted invasion of
Regulation U) and, if not, describe the proposedregs.aspx as submitted, unless
personal privacy. In those cases, the
specific purpose of the loan. FR T–4 modified for technical reasons.
information could be withheld under
respondents must also answer a Accordingly, your comments will not be
question as to whether the securities exemption 4 or exemption 6 of the
Freedom of Information Act (5 U.S.C. edited to remove any identifying or
serving as collateral will be delivered contact information. Public comments
against payment. The borrower must 552(b)(4) and (6)), respectively.
Confidentiality determinations must be may also be viewed electronically or in
sign and date the reporting form. The paper form in Room 3515, 1801 K Street
lender completes Part II, which may made on a case by case basis. Because
FR G–3, FR T–4, and FR U–1 are not (between 18th and 19th Streets NW)
entail listing and valuing any collateral. Washington, DC 20006 between 9:00
The lender then signs and dates Part III submitted to the Federal Reserve System
and FR G–2 does not contain any a.m. and 5:00 p.m. on weekdays.
of the reporting form, acknowledging Additionally, commenters may send a
that the customer’s statement is information considered to be
confidential, no confidentiality copy of their comments to the OMB
accepted in good faith. The lender is Desk Officer—Shagufta Ahmed—Office
required to hold the reporting forms for determination is necessary for these
reports. of Information and Regulatory Affairs,
at least three years after the credit is Office of Management and Budget, New
extinguished. The Federal Reserve Board of Governors of the Federal Reserve
Executive Office Building, Room 10235,
System does not collect or process this System, January 17, 2018.
725 17th Street NW, Washington, DC
information, but as noted, the Ann E. Misback,
20503 or by fax to (202) 395–6974.
information required on the form may Secretary of the Board.
FOR FURTHER INFORMATION CONTACT: A
be used by Federal Reserve examiners to [FR Doc. 2018–01115 Filed 1–22–18; 8:45 am]
assess compliance with the Securities copy of the PRA OMB submission,
BILLING CODE 6210–01–P including the proposed reporting form
Exchange Act of 1934 and Regulation T.
Proposed revisions: The Board and instructions, supporting statement,
proposes to revise the instructions for and other documentation will be placed
FEDERAL RESERVE SYSTEM
the FR G–1, FR G–2, and FR G–4 to into OMB’s public docket files, once
require respondents to submit Portable Proposed Agency Information approved. These documents will also be
Document Format (PDF) versions of the Collection Activities; Comment made available on the Federal Reserve
reporting forms and attachments to a Request Board’s public website at: http://
designated Federal Reserve Board email www.federalreserve.gov/apps/
address. The Board is proposing these AGENCY: Board of Governors of the reportforms/review.aspx or may be
revisions in an effort to improve clarity Federal Reserve System. requested from the agency clearance
as the current instructions do not ACTION: Notice, request for comment. officer, whose name appears below.
contain explicit guidance on the form of Federal Reserve Board Clearance
submission for the reports. The SUMMARY: The Board of Governors of the Officer—Nuha Elmaghrabi—Office of
revisions would be effective April 1, Federal Reserve System (Board) invites the Chief Data Officer, Board of
2018. comment on a proposal to extend for Governors of the Federal Reserve
The Board also proposes to three years, without revision, the System, Washington, DC 20551 (202)
consolidate all six Margin Credit Recordkeeping Requirements 452–3829. Telecommunications Device
Reports under one OMB control Associated with Limitations on for the Deaf (TDD) users may contact
number, 7100–0011, which currently Interbank Liabilities (Regulation F; OMB (202) 263–4869, Board of Governors of
only includes the FR G–1, FR G–2, and No. 7100–0331). the Federal Reserve System,
FR G–4. This change is aimed at Washington, DC 20551.
DATES: Comments must be submitted on
simplifying the tracking and clearance SUPPLEMENTARY INFORMATION: On June
or before March 26, 2018.
process for the Margin Credit Reports. 15, 1984, the Office of Management and
Legal authorization and ADDRESSES: You may submit comments, Budget (OMB) delegated to the Board
sradovich on DSK3GMQ082PROD with NOTICES

confidentiality: The Board has identified by Regulation F, by any of the authority under the Paperwork
determined that each of the reports is following methods: Reduction Act (PRA) to approve of and
authorized by section 7 of the Act (15 • Agency Website: http:// assign OMB control numbers to
U.S.C. 78g). In addition, FR T–4 is www.federalreserve.gov. Follow the collection of information requests and
required by section 220.6 of Regulation instructions for submitting comments at requirements conducted or sponsored
T (12 CFR 220.6), FR U–1 is required by http://www.federalreserve.gov/apps/ by the Board. In exercising this
sections 221.3(c)(1)(i) and (2)(i) of foia/proposedregs.aspx. delegated authority, the Board is

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Federal Register / Vol. 83, No. 15 / Tuesday, January 23, 2018 / Notices 3149

directed to take every reasonable step to banks: 27,168; national banks: 7,368; Board of Governors of the Federal Reserve
solicit comment. In determining state savings banks: 2,472; federal System, January 17, 2018.
whether to approve a collection of savings banks: 1,824; savings & loan Ann E. Misback,
information, the Board will consider all associations: 1,560; insured federal Secretary of the Board.
comments received from the public and branch of foreign banking organization: [FR Doc. 2018–01114 Filed 1–22–18; 8:45 am]
other agencies. 32; insured state branch of foreign BILLING CODE 6210–01–P
banking organization: 48; non-
Request for Comment on Information
depository trust company member: 16;
Collection Proposal
cooperative banks: 264.
The Board invites public comment on General description of report: Section GOVERNMENT ACCOUNTABILITY
the following information collection, 206.3 of the Board’s Regulation F, 12 OFFICE
which is being reviewed under CFR 206.3, requires insured depository Request for Medicare Payment
authority delegated by the OMB under institutions to establish and maintain Advisory Commission Nominations
the PRA. Comments are invited on the policies and procedures designed to
following: prevent excessive exposure to AGENCY: U.S. Government
a. Whether the proposed collection of ‘‘correspondents,’’ which include non- Accountability Office (GAO).
information is necessary for the proper affiliated U.S. insured depository ACTION: Request for letters of
performance of the Federal Reserve’s institutions and non-affiliated foreign nomination and resumes.
functions; including whether the banks. Regulation F limits the risks that
information has practical utility; the failure of a correspondent would SUMMARY: The Balanced Budget Act of
b. The accuracy of the Federal pose to insured depository institutions. 1997 established the Medicare Payment
Reserve’s estimate of the burden of the Where exposure to a correspondent is Advisory Commission (MedPAC) and
proposed information collection, significant, the policies and procedures gave the Comptroller General
including the validity of the shall require periodic reviews of the responsibility for appointing its
methodology and assumptions used; financial condition of the correspondent members. GAO is now accepting
c. Ways to enhance the quality, and shall take into account any nominations for MedPAC appointments
utility, and clarity of the information to deterioration in the correspondent’s that will be effective in May 2018.
be collected; financial condition. Where the financial Letters of nomination and resumes
d. Ways to minimize the burden of condition of the correspondent and the should be submitted no later than
information collection on respondents, form or maturity of the exposure create February 23, 2018 to ensure adequate
including through the use of automated a significant risk that payments will not opportunity for review and
collection techniques or other forms of be made in full or in a timely manner, consideration of nominees prior to
information technology; and the policies and procedures should limit
e. Estimates of capital or startup costs appointment of new members.
the bank’s exposure to the Acknowledgement of submissions will
and costs of operation, maintenance, correspondent, either by the
and purchase of services to provide be provided within a week of
establishment of internal limits or by submission. Please contact Greg Giusto
information. other means.
At the end of the comment period, the at (202) 512–8268 if you do not receive
The Board has updated its burden an acknowledgment.
comments and recommendations estimate for this information collection
received will be analyzed to determine ADDRESSES: Email:
to account for all depository institutions
the extent to which the Federal Reserve MedPACappointments@gao.gov. Mail:
insured by the Federal Deposit
should modify the proposal prior to U.S. GAO, Attn: MedPAC
Insurance Corporation (FDIC), all of
giving final approval. Appointments, 441 G Street NW,
which are potential respondents. The
Proposal to approve under OMB Washington, DC 20548.
Board’s previous burden estimate
delegated authority the extension for FOR FURTHER INFORMATION CONTACT: Greg
accounted only for state member banks.
three years, without revision, of the Giusto, 202–512–8268, GiustoG@
The increase in burden reflects the
following report: gao.gov, or the GAO Office of Public
Report title: Recordkeeping update to correct the number of
potential respondents, and is not due to Affairs, (202) 512–4800.
Requirements Associated with
Limitations on Interbank Liabilities. a change in burden for individual Authority: 42 U.S.C. 1395b–6.
Agency form number: Regulation F. institutions.
Legal authorization and Gene L. Dodaro,
OMB control number: 7100–0331. Comptroller General of the United States.
Frequency: On occasion. confidentiality: The Board’s Legal
Respondents: Depository institutions Division has determined that the [FR Doc. 2018–00434 Filed 1–22–18; 8:45 am]
insured by the Federal Deposit recordkeeping requirements of BILLING CODE 1610–02–M

Insurance Corporation (FDIC). Regulation F are mandatory and
Estimated number of respondents: authorized by section 23 of the Federal
State member banks: 829; non-member Reserve Act, as added by section 308 of DEPARTMENT OF HEALTH AND
banks: 3,396; national banks: 921; state the Federal Deposit Insurance HUMAN SERVICES
savings banks: 309; federal savings Corporation Improvement Act of 1991
banks: 228; savings & loan associations: (FDICIA) (12 U.S.C. 371b–2). Because Centers for Disease Control and
195; insured federal branch of foreign the Board does not collect any Prevention
information, no issue of confidentiality
sradovich on DSK3GMQ082PROD with NOTICES

banking organization: 4; insured state [30Day–18–0621]
branch of foreign banking organization: normally arises. However, if a
6; non-depository trust company compliance program becomes a Board Agency Forms Undergoing Paperwork
member: 2; cooperative banks: 33. record during an examination, the Reduction Act Review
Estimated average hours per response: information may be protected from
8 hours. disclosure under exemptions (b)(4) and In accordance with the Paperwork
Estimated annual burden hours: State (b)(8) of the Freedom of Information Act Reduction Act of 1995, the Centers for
member banks: 6,632; non-member (5 U.S.C. 552(b)(4) and (b)(8)). Disease Control and Prevention (CDC)

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Document Created: 2018-01-23 01:09:05
Document Modified: 2018-01-23 01:09:05

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, request for comment.
Dates		Comments must be submitted on or before March 26, 2018.
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 website at: http:// www.federalreserve.gov/apps/reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears below.
FR Citation		83 FR 3148