Document
Proposed Agency Information Collection Activities; Comment Request
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Reporting Requirements Associated wit...
SUPPLEMENTARY INFORMATION:
On June 15, 1984, OMB delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve and assign OMB control numbers to collections of information 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.
During the comment period for this proposal, a copy of the proposed PRA OMB submission, including the draft reporting form and instructions, supporting statement (which contains more detail about the information collection and burden estimates than this notice), and other documentation, will be made available on the Board's public website at
https://www.federalreserve.gov/apps/reportingforms/review
or may be requested from the agency clearance officer, whose name appears above. On the page displayed at the link above, you can find the supporting information by referencing the collection identifier, FR TT. Final versions of these documents will be made available at
https://www.reginfo.gov/public/do/PRAMain,
if approved.
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.
Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection
Collection title:
Reporting Requirements Associated with Regulation TT.
Collection identifier:
FR TT.
OMB control No.:
7100-0369.
General description of collection:
The Board's Regulation TT—Supervision and Regulation Assessments of Fees (12 CFR part 246) implements the second section 11(s) of the Federal Reserve Act, which directs the Board to collect assessments, fees, or other charges from bank holding companies and savings and loan holding companies that meet a size threshold and from all nonbank financial companies designated for Board supervision by the Financial Stability Oversight Council (FSOC) in an amount equal to the total expenses the Board estimates are necessary or appropriate to carry out its supervisory and regulatory responsibilities with respect to such companies. Pursuant to Regulation TT, the Board issues an annual notice of assessment to each assessed company. Assessed companies may file a written appeal with the Board regarding the assessment. Each assessed company has thirty calendar days from June 30 or, if issued later than June 30, thirty calendar days from the date of issuance for that assessment period, to submit an emailed statement to appeal the Board's determination (1) that the company is an assessed company or (2) of the company's total assessable assets.
Frequency:
Event-generated.
Respondents:
Bank holding companies and savings and loan holding companies that meet a size threshold of $100 billion or more in total consolidated assets and all nonbank financial companies designated for Board supervision by the FSOC.
Total estimated number of respondents:
3.
Total estimated annual burden hours:
30.
Board of Governors of the Federal Reserve System, January 31, 2025.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.