Privacy Act of 1974; System of Records

Pursuant to the provisions of the Privacy Act of 1974, notice is given that the Board of Governors of the Federal Reserve System (Board) proposes the establishment of a new system of records, BGFRS- 40, entitled ``FRB--Board Subscription Services.'' The new system of records, BGFRS-40, will maintain subscription-related information regarding individuals who subscribe to Board publications. The main publication that the Board provides is the Federal Reserve Regulatory Service (FRRS), which is a compilation of the statutes administered by the Board along with regulations, interpretations, policy statements, rulings, and opinions issued by the Board and its staff. The FRRS also includes select regulations issued by other agencies that are relevant to the Board's responsibilities. The Board also provides subscriptions to other publications such as general publications, reports to Congress, and economic research and data. To date, the Board has operated the subscription services itself and stored the data by year rather than by name or personal identifier. Going forward, the Board will contract the subscription services for the FRRS to a vendor, who will maintain the files (both electronic and in paper) in a manner that customarily allows the files to be accessed by name or personal identifier, thus necessitating this new system of records. After the transition of the FRRS subscription services to the vendor, the Board will continue to maintain its old historical FRRS subscription materials for the appropriate record retention period. In addition, the Board will continue to operate the subscription services for the other publications (e.g., the general publications). The Board, however, is changing how it maintains its Board-operated subscription services as, going forward, the Board will be using an electronic system that will allow retrieval of the subscription materials by subscriber name or other personal identifier.