83 FR 43870 - Proposed Agency Information Collection Activities; Comment Request
FEDERAL RESERVE SYSTEM Federal Register Volume 83, Issue 167 (August 28, 2018)
Federal Register Volume 83, Issue 167 (August 28, 2018)
| Page Range | 43870-43872 | |
| FR Document | 2018-18550 |
[Federal Register Volume 83, Number 167 (Tuesday, August 28, 2018)] [Notices] [Pages 43870-43872] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-18550] ----------------------------------------------------------------------- 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 Supervisory and Regulatory Survey (FR 3052; OMB No. 7100- 0322). DATES: Comments must be submitted on or before October 29, 2018. ADDRESSES: You may submit comments, identified by FR 3052, 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. Email: [email protected]. 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 NW, Washington, DC 20006, between [[Page 43871]] 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the Board requires that visitors make an appointment to inspect comments. You may do so by calling (202) 452-3684. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in order to inspect and photocopy comments. 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, if 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 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 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 Board's functions; including whether the information has practical utility; b. The accuracy of the Board'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 Board should modify the proposal prior to giving final approval. Proposal to Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: Supervisory and Regulatory Survey. Agency form number: FR 3052. OMB control number: 7100-0322. Frequency: On occasion. Respondents: Bank holding companies (BHCs), state member banks (SMBs), savings and loan holding companies (SLHCs), intermediate holding companies (IHCs), U.S branches and agencies of foreign banking organizations (FBOs), Edge and agreement corporations, nonbank financial companies that the Financial Stability Oversight Council (FSOC) has determined should be supervised by the Board, or the combined domestic operations of FBOs. Estimated number of respondents: 5,000. Estimated average hours per response: 0.5 hours. Estimated annual burden hours: 60,000 hours. General description of report: The FR 3052 collects information from financial institutions specifically tailored to the Federal Reserve's supervisory, regulatory, and operational responsibilities. Examples of past surveys include collected information related to regulatory capital, operational risk loss event history, and transactions by securities dealers. The frequency and content of the questions depend on changing economic, regulatory, supervisory, or legislative developments. The Board utilizes the survey process, as needed, to collect information on specific issues that affect its decision-making. The principal value of the FR 3052 is the flexibility it provides the Federal Reserve to respond quickly to the need for data due to unanticipated economic, financial, supervisory, or regulatory developments. The Board cannot predict what specific information will be needed, but such needs are generally very time sensitive. Because the relevant questions may change with each survey, there is no fixed reporting form. Written qualitative questions or questionnaires may include categorical questions, yes-no questions, ordinal questions, and open- ended questions. Written quantitative surveys may include dollar amounts, percentages, numbers of items, interest rates, and other such information. Institutions may also be required to provide copies of existing documents (for example, pertaining to practices and performances for a particular business activity). Before conducting a survey, the Board reviews any information to be collected to determine if the information is available by other means. Legal authorization and confidentiality: The FR 3052 is authorized pursuant to section 9 of the Federal Reserve Act (FRA) (12 U.S.C. 324) for SMBs; section 5 of the Bank Holding Company Act (12 U.S.C. 1844(c)(1)(A)) for BHCs and their subsidiaries; section 10 of the Home Owners' Loan Act (12 U.S.C. 1467a(b)(1)) for SLHCs and their subsidiaries; section 7(c)(2) of International Banking Act (IBA) (12 U.S.C. 3105(c)(2)) for the U.S. branches and agencies of foreign banks; section 8 of the IBA (12 U.S.C. 3106) for foreign banking organizations; sections 25 and 25A of the FRA (12 U.S.C. 602 and 625) for Edge and agreement corporations; and section 161 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5361) for nonbank financial companies designated by FSOC for supervision by the Board. The surveys would be conducted on a voluntary basis. The questions asked on each survey would vary, so the ability of the Board to maintain the confidentiality of information collected would be determined on a case by case basis. It is possible that the information collected would constitute confidential commercial or financial information, which may be kept confidential under exemption 4 to the Freedom of Information Act (FOIA) (5 U.S.C. 552(b)(4)). In circumstances where the Board collects information related to individuals, exemption 6 to FOIA [[Page 43872]] would protect information ``the disclosure of which would constitute a clearly unwarranted invasion of personal privacy'' (5 U.S.C. 552(b)(6)). To the extent the information collected relates to examination, operating, or condition reports prepared for the use of an agency supervising financial institutions, such information may be kept confidential under exemption 8 to FOIA (5 U.S.C. 552(b)(8)). Board of Governors of the Federal Reserve System, August 23, 2018. Ann Misback, Secretary of the Board. [FR Doc. 2018-18550 Filed 8-27-18; 8:45 am] BILLING CODE 6210-01-P
![43870 Federal Register / Vol. 83, No. 167 / Tuesday, August 28, 2018 / Notices
report a covered loan if it has met the with section 104(a) of EGRRCPA and the under any federal or state privacy law
loan origination threshold for that loan Bureau’s recent statement addressing (12 U.S.C. 2803(j)(2)(B)). The redacted
category (open-end or closed-end). the applicability of this statutory information may be kept confidential
The final rules generally will require amendment to HMDA,9 the Board under exemption 6 of the Freedom and
covered institutions to collect and estimates that institutions eligible for Information Act, which protects from
report any mortgage loan secured by a the partial exemption will report release information that, if disclosed,
dwelling, including open-end lines of approximately half the data points would ‘‘constitute a clearly unwarranted
credit, regardless of the loan’s purpose. currently required by the Bureau’s final invasion of personal privacy’’ (5 U.S.C.
However, the final rules exclude rules on the loans described above.10 552(b)(6)).
unsecured home-improvement loans The Bureau will collect the HMDA/ Consultation outside the agency: The
(which historically were required to be LAR data on behalf of the applicable Board consulted with Bureau staff
reported), dwelling-secured loans that Federal supervisory agency, and the regarding the estimated burden of this
are made principally for a commercial data will be combined and aggregated information collection.
or business purpose, agricultural– for each Metropolitan Statistical Area Board of Governors of the Federal Reserve
purpose loans, and other specifically (MSA). Certain aggregated data will System, August 22, 2018.
excluded loans.6 continue to be publicly available, Ann Misback,
The final rules also will require though the Bureau has yet to determine Secretary of the Board.
collection of additional data points. For what the information collected in the [FR Doc. 2018–18542 Filed 8–27–18; 8:45 am]
covered institutions that are otherwise new data fields will be disclosed once
BILLING CODE 6210–01–P
not eligible for the partial exemption the final rules are fully effective.
under section 104(a) of EGRRCPA, as Legal authorization and
discussed further below, these confidentiality: The FR HMDA–LAR is FEDERAL RESERVE SYSTEM
additional data points will be reported authorized pursuant to section 304(j) of
in 2019. HMDA (12 U.S.C. 2803(j)), which Proposed Agency Information
These new fields include requires that the Bureau prescribe by Collection Activities; Comment
• additional information about the regulation the form of loan application Request
applicant or borrower, such as age register information that must be
and credit score reported by covered financial AGENCY: Board of Governors of the
• information about the loan pricing, institutions. Section 1003.5 of Federal Reserve System.
such as the borrower’s total cost to Regulation C implements this statutory ACTION: Notice, request for comment.
obtain a mortgage, temporary provision, and requires covered SUMMARY: The Board of Governors of the
introductory rates, and borrower-paid financial institutions to submit reports Federal Reserve System (Board) invites
origination charges to their appropriate federal agency. comment on a proposal to extend for
• information about loan features, such Section 304(h)(2)(A) of HMDA (12 three years, without revision, the
as the loan term, prepayment U.S.C. 2803(h)(2)(A)) designates the Supervisory and Regulatory Survey (FR
penalties, or non-amortizing features Board as the appropriate agency with 3052; OMB No. 7100–0322).
(such as interest only or balloon respect to the entities described above.
payments) DATES: Comments must be submitted on
The FR HMDA–LAR is mandatory.
• additional information about property or before October 29, 2018.
HMDA requires the information
securing the loan, such as property ADDRESSES: You may submit comments,
collected on the FR HMDA–LAR to be
value and property type made available to the general public in identified by FR 3052, by any of the
In addition, the Bureau’s final rules the form proscribed by the Bureau. The following methods:
amend several existing requirements, • Agency website: http://
Bureau is authorized to redact or modify
including the requirements for www.federalreserve.gov. Follow the
the scope of the information before it is
collection and reporting of information instructions for submitting comments at
publicly disclosed to protect the privacy
regarding an applicant’s or borrower’s http://www.federalreserve.gov/apps/
of loan applicants and to protect
ethnicity, race and sex.7 foia/proposedregs.aspx.
depository institutions from liability • Email: regs.comments@
Effective May 24, 2018, an institution
that is eligible for the partial exemption 9 See Bureau Statement, which provides that for
federalreserve.gov. Include OMB
under section 104(a) of EGRRCPA will loans subject to the partial exemption, ‘‘the number in the subject line of the
only need to report a subset of the data requirements of [HMDA section 304(b)(5) and (6)] message.
shall not apply . . . [therefore,] institutions are • Fax: (202) 452–3819 or (202) 452–
points required under HMDA if it exempt from the collection, recording, and 3102.
originates fewer than 500 closed-end reporting requirements for some, but not all, of the
• Mail: Ann E. Misback, Secretary,
mortgage loans in each of the two data points specified in current Regulation C.’’
10 Section 104(a) of EGRRCPA does not define the Board of Governors of the Federal
preceding calendar years.8 Consistent Reserve System, 20th Street and
terms ‘‘closed-end loan’’ or ‘‘open-end line of
6 12
credit.’’ However, for purposes of estimating Constitution Avenue NW, Washington,
CFR 1003.2(e). burden, the Board is making the assumption that
7 For the complete list of data points, see 12 CFR
DC 20551.
these terms will be used consistent with how they
1003.4. are currently defined in Regulation C. See 12 CFR
All public comments are available
8 Section 104(a) of EGRRCPA also provides a 1002.2(d) and (o), which defines the term ‘‘closed- from the Board’s website at http://
partial exemption to the data collection and end loan’’ and ‘‘open-end line of credit,’’ www.federalreserve.gov/apps/foia/
reporting requirements under HMDA for respectively. Further, for purposes of estimating proposedregs.aspx as submitted, unless
daltland on DSKBBV9HB2PROD with NOTICES
institutions that originate fewer than 500 open-end burden, the Board is making the assumption that
lines of credit in each of the two preceding calendar the loan volume thresholds for closed-end loans
modified for technical reasons.
years and otherwise meet the applicable will be determined consistent with how such loan Accordingly, your comments will not be
performance evaluation rating standards under thresholds are currently used under Regulation C to edited to remove any identifying or
CRA. However, institutions eligible for this partial determine if a transaction must be reported. See 12 contact information. Public comments
exemption are already completely exempt from all CFR 1003.3(c)(11) and (12), which provides how to
data collection and reporting requirements under determine the loan threshold volume for closed-end
may also be viewed electronically or in
the temporary exemption provided by the Bureau’s loan reporters and open-end line of credit reporters, paper form in Room 3515, 1801 K Street
final rules until January 1, 2020. respectively. NW, Washington, DC 20006, between
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![43872 Federal Register / Vol. 83, No. 167 / Tuesday, August 28, 2018 / Notices
would protect information ‘‘the security, resulting from a suspected or Constitution Avenue NW, Washington,
disclosure of which would constitute a confirmed breach. DC 20551.
clearly unwarranted invasion of These breach-response related uses All public comments will be made
personal privacy’’ (5 U.S.C. 552(b)(6)). are relevant and apply to all of the available on the Board’s website at
To the extent the information collected Board’s systems of records. Accordingly, www.federalreserve.gov/generalinfo/
relates to examination, operating, or the Board is revising its list of General foia/ProposedRegs.cfm as submitted,
condition reports prepared for the use of Routine Uses and is amending all of the unless modified for technical reasons or
an agency supervising financial Board’s systems of records to include to remove personally identifiable
institutions, such information may be the revised Routine Use I and the new information at the commenter’s request.
kept confidential under exemption 8 to Routine Use J. These uses will ensure Public comments may also be viewed
FOIA (5 U.S.C. 552(b)(8)). that the Board is able to respond as electronically or in paper form in Room
Board of Governors of the Federal Reserve necessary in the event of a breach of 3515, 1801 K Street (between 18th and
System, August 23, 2018. personally identifiable information 19th Streets NW) Washington, DC 20006
Ann Misback, involving a Board system of records and between 9:00 a.m. and 5:00 p.m. on
Secretary of the Board. assist other federal agencies or federal weekdays. For security reasons, the
[FR Doc. 2018–18550 Filed 8–27–18; 8:45 am]
entities in their response. Breaches pose Board requires that visitors make an
a risk of harm to individuals, and thus appointment to inspect comments. You
BILLING CODE 6210–01–P
the revised and new routine uses will may do so by calling (202) 452–3684.
further enhance the Board’s ability to Upon arrival, visitors will be required to
FEDERAL RESERVE SYSTEM protect the privacy of individuals by present valid government-issued photo
allowing the Board to respond to the identification and to submit to security
Privacy Act of 1974; System of suspected or confirmed breach and screening in order to inspect and
Records prevent, minimize, or remedy the photocopy comments.
resulting harm posed by the breach. In FOR FURTHER INFORMATION CONTACT:
AGENCY: Board of Governors of the
order that the Board’s General Routine David B. Husband, Senior Attorney,
Federal Reserve System.
Uses will be contained in a single notice Legal Division, (202) 530–6270, or
ACTION: Notice of General Amendment readily accessible by the public, the david.b.husband@frb.gov; Alye S.
to Federal Reserve Board of Governors Board is republishing the General Foster, Assistant General Counsel, Legal
Systems of Records. Routine Uses previously published on Division, or (202) 452–5289, or
SUMMARY: Pursuant to the provisions of May 6, 2008 (73 FR 24985) which were alye.s.foster@frb.gov. Board of
the Privacy Act of 1974, notice is given not revised under this notice. Governors of the Federal Reserve
that the Board of Governors of the DATES: Comments must be received on System, 20th Street and Constitution
Federal Reserve System (Board) is or before September 27, 2018. The Avenue NW, Washington, DC 20551,
amending its General Routine Uses of revised systems of records notices and Telecommunications Device for the Deaf
Board Systems of Records (General General Routine Uses will become (TDD) users may contact (202) 263–
Routine Uses) that apply to the Board’s effective September 27, 2018, without 4869.
systems of records, by revising an further notice, unless comments dictate SUPPLEMENTARY INFORMATION: In
existing routine use and adding a new otherwise. The Office of Management accordance with the Privacy Act of
routine use, both related to breach and Budget (OMB), which has oversight 1974, 5 U.S.C. 552a(r), a report of these
response. The changes are necessary in responsibility under the Privacy Act, systems of records is being filed with
order to comply with Office of requires a 30-day period prior to the Chair of the House Committee on
Management and Budget (OMB) publication in the Federal Register in Oversight and Government Reform, the
Memorandum M–17–12, ‘‘Preparing for which to review the system and to Chair of the Senate Committee on
and Responding to a Breach of provide any comments to the agency. Homeland Security and Governmental
Personally Identifiable Information’’ The public is then given a 30-day period Affairs, and the Administrator of the
(January 3, 2017), which sets forth the in which to comment, in accordance Office of Information and Regulatory
two required routine uses. Accordingly, with 5 U.S.C. 552a(e)(4) and (11). The Affairs of the Office of Management and
the Board is revising Routine Use I, as routine uses below were submitted to Budget.
prescribed by OMB, which allows the OMB on July 16, 2018.
Board to disclose records as necessary to SYSTEM NAME AND NUMBER:
ADDRESSES: You may submit comments,
respond to a suspected or confirmed identified by Board General Routine BGFRS–1 Recruiting and Placement
breach of the system of records where Uses and SORN Amendment, by any of Records
the Board has determined the breach the following methods: BGFRS–2 Personnel Security
poses a risk of harm to individuals, the • Agency website: http:// Systems
Board, the Federal Government, or www.federalreserve.gov. Follow the BGFRS–3 Medical Records
national security, and the disclosure is BGFRS–4 General Personnel
instructions for submitting comments at
reasonably necessary to assist the Board Records
http://www.federalreserve.gov/ BGFRS–5 EEO Discrimination
in its efforts to respond to the breach or generalinfo/foia/ProposedRegs.cfm. Complaint File
to prevent, minimize or remedy such • Email: regs.comments@ BGFRS–6 Disciplinary and Adverse
harm. The Board is also adding Routine federalreserve.gov. Include ‘‘Board Action Records
Use J as prescribed by OMB to allow the General Routine Uses and SORN BGFRS–7 Payroll and Leave Records
daltland on DSKBBV9HB2PROD with NOTICES
Board to assist another federal agency or Amendment’’ in the subject line of the BGFRS–8 Travel Records
federal entity in that agency’s or entity’s message. BGFRS–9 Supplier Files
response to a suspected or confirmed • Fax: (202) 452–3819 or (202) 452– BGFRS–10 General Files on Board
breach or efforts to prevent, minimize, 3102. Members
or remedy the risk of harm to • Mail: Ann E. Misback, Secretary, BGFRS–11 Official General Files
individuals, the agency or entity, the Board of Governors of the Federal BGFRS–12 Bank Officers Personnel
Federal Government, or national Reserve System, 20th Street and System
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Document Created: 2018-08-28 00:22:23
Document Modified: 2018-08-28 00:22:23
| 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 October 29, 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, if 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 43870 |
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